Compare forex brokers LegacyFX VS Olymp Trade

If you're choosing between LegacyFX and Olymp Trade forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is LegacyFX better than Olymp Trade? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

LEGACYFX VS OLYMP TRADE

LegacyFX
LegacyFX Overview

LegacyFX is an online forex and CFD broker located in Cyprus. It offers forex, stocks, indices and commodities for trading on the MT5 platform.

Olymp Trade
Olymp Trade Overview

Olymp Trade is a Forex Binary Broker offering Forex Trading services via Mobile and Web trading platforms. Regarding orders execution model, Olymp Trade is a b-book broker (market maker). Olymp Trade offers trading of currencies, indices, shares and commodities - binary options only. Olymp Trade is regulated by the FinaCom (Hong Kong).

# Broker's Features LEGACYFX Availability OLYMP TRADE Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare LegacyFX vs Olymp Trade.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. LegacyFX offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures, while Olymp Trade offers Cryptocurrency-currencies, Currencies, Commodities, Indice.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. LegacyFX is STP, while Olymp Trade is Broker.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. LegacyFX recommended minimum capital is 500, while Olymp Trade has a Minimum Deposit Requirement of 10.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. LegacyFX is regulated by CySEC, BaFin, FCA, while Olymp Trade regulated by IFC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. LegacyFX offers UDS, EUR, GBP different account currencies for each account types, while Olymp Trade offers dollar, euro, ruble, Brazilian real, Thai baht, Ch account currencies.

Languages Available: Next lets have a look at each broker's different Language options. LegacyFX offers English, Spanish, Italian, German, while Olymp Trade offers English, Thai, Indonesian, Portuguese, Spanish, Tu Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. LegacyFX offers Credit/Debit Cards, Neteller, Skrill, Bank Wire Transfer different payment methods for each account types, while Olymp Trade offers Credit/Debit Cards, QIWI, Skrill, Webmoney, Bitcoin, Yand payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, LegacyFX makes MT5 available to clients, while Olymp Trade offers Olymp Trade platform.

The Verdict: LegacyFX or Olymp Trade?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Olymp Trade is more reliable based on our criteria above. Olymp Trade offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Olymp Trade has a wider range of languages in which customer service is offered making the broker more accessible.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.

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