Compare forex brokers MultiBank VS Legacyfx

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

MULTIBANK VS LEGACYFX

LegacyFX
LegacyFX Overview

At onlineforextrading.net we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly! For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in case of this LegacyFX broker review.

LegacyFX has been providing brokerage services since 2017. The MiFID-compliant broker is regulated by CySEC and the National Bank of the Republic of Belarus. Originally founded in 2012, LegacyFX rebranded and relaunched its services under new management in 2017. Presently, LegacyFX is owned and operated by “A.N. All New Investments Ltd”, a financial investment firm, based in Larnaca, Cyprus. The brand provides currency pairs, metals, commodities, stocks and indices for trading on its platform across multiple devices.

MultiBank
MultiBank Overview

At onlineforextrading.net we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly! For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in case of this MultiBank broker review.

MultiBank Group is one of the leading Forex & CFD brokers worldwide. Founded in the USA in 2005, MultiBank was one of the first in the foreign exchange industry to launch a fully transparent electronic Forex and Financial Derivatives Exchange. Since its inception, MultiBank has evolved into one of the largest online financial derivatives providers.

Combining prime liquidity, cutting edge technology and first-class customer service, MultiBank delivers advanced trading platforms and tight pricing in online financial products, including forex, metals, shares, indices, commodities and cryptocurrencies CFDs. MultiBank Group boasts a daily trading volume in excess of US$ 6.2 billion and provides services to an extensive client-base of over 320,000 customers from across 90 countries worldwide.

# Broker's Features MULTIBANK Availability LEGACYFX 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 MultiBank vs Legacyfx.

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. MultiBank offers Online Financial Trading and Investment Services Such as Forex, Metals, Shares, Indices, Commodities, Crypt, while Legacyfx offers Forex, CFDs on Indices, Commodities, Metals, Crypt.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. MultiBank is ECN Broker, while Legacyfx is STP.

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. MultiBank recommended minimum capital is 50, while Legacyfx has a Minimum Deposit Requirement of 500.

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. MultiBank is regulated by ASIC, BaFin, FMA, CNMV, FSC, CIMA, RAK, while Legacyfx regulated by CySEC, BaFin, FCA. 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. MultiBank offers USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD different account currencies for each account types, while Legacyfx offers UDS, EUR, GBP account currencies.

Languages Available: Next lets have a look at each broker's different Language options. MultiBank offers English, Spanish, Italian, French, German, Portugu, while Legacyfx offers English, Spanish, Italian, German Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. MultiBank offers Credit card, bank wire, Skrill, Neteller, Pay Trus different payment methods for each account types, while Legacyfx offers E-wallets (Neteller, Skrill and more), wire transf payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, MultiBank makes MT4: ECN Pro, MultiBank Pro, Maximus; MT5; WebTrad available to clients, while Legacyfx offers MetaTrader5.

The Verdict: MultiBank or Legacyfx?

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

Objectively, MultiBank is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. MultiBank broker is regulated in more major hubs. MultiBank offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. MultiBank 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. MultiBank 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.