Written by ForexBrokers.com
In this head to head comparison of Alpari vs LegacyFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 1998, Alpari is a well-established online broker, while LegacyFX, established in 2012, is a newer entrant in the financial services industry. Neither company is publicly traded or operates as a bank, making their regulatory standings crucial for evaluating trust and safety. When it comes to regulatory credentials, Alpari holds no Tier-1 or Tier-2 licenses, earning a Trust Score of 68 out of 99 from ForexBrokers.com, indicating a high-risk investment classification.
In comparison, LegacyFX, although not publicly traded or a bank, secures a slightly lower Trust Score of 67 but boasts one Tier-1 license, the higher-tier regulatory clearance amongst the two. Despite its slightly lower score, LegacyFX's Tier-1 license suggests a more secure trading environment compared to Alpari's unlicensed status under ForexBrokers.com's Trust Score system. Both brokers offer potential trading platforms, but it's important for investors to consider these regulatory nuances when choosing between them.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Year Founded | 1998 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 0 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the online brokers Alpari and LegacyFX in terms of commissions and fees, Alpari emerges as a more favorable option for traders who prioritize these cost factors. Alpari has been rated 4 out of 5 stars for its commission and fee structure, placing it at rank 41 out of 62 brokers on ForexBrokers.com. Although detailed average spread data is unavailable for Alpari, this star rating suggests competitive trading costs relative to other brokers in the industry.
On the other hand, LegacyFX has a more complex fee structure differentiated by geographical location and account type. For EU clients regulated by CySEC, LegacyFX offers three main account types: Silver, Gold, and Platinum, with minimum deposits ranging from $500 to $25,000. The spreads vary, with the Platinum account offering the most favorable trading conditions. International clients with the Vanuatu entity can choose from seven account types, each having different deposit requirements and levels of access to client support and trading tools. The absence of average spreads makes it challenging to evaluate trading expenses accurately compared to other top brokers. LegacyFX earns a 3.5-star rating and is ranked #56 for commissions and fees out of 62 brokers.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $20 | $500 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments offered by Alpari and LegacyFX, both brokers provide opportunities for forex trading via contracts for difference (CFDs) or spot contracts. Alpari offers a total of 105 tradeable symbols, which includes 46 forex pairs. Meanwhile, LegacyFX provides a wider selection with 425 tradeable symbols and slightly fewer forex pairs at 44. Interestingly, neither broker allows clients to purchase exchange-traded securities on U.S. exchanges, like Apple shares. However, Alpari stands out by giving access to international exchange-traded securities, such as Vodafone shares, a service that LegacyFX does not provide.
Both Alpari and LegacyFX support copy trading and offer cryptocurrency derivatives, though neither offers the purchase of actual cryptocurrency. In terms of range of investments, Alpari receives a three-star rating, while LegacyFX scores slightly higher with 3.5 stars. According to ForexBrokers.com, Alpari ranks #62 out of 62 brokers, highlighting a need for a more extensive range of offerings. In contrast, LegacyFX ranks higher at #48, reflecting a broader array of investment opportunities.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 105 | 425 |
| Forex Pairs (Total) | 46 | 44 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Alpari and LegacyFX are both prominent online brokers, each offering a variety of trading platforms and tools to cater to different trader needs. Both brokers provide the option for simulated (paper) trading with a free virtual demo account, making it easy for beginners to practice without risk. When it comes to proprietary platforms, Alpari has the edge with its in-house platform, whereas LegacyFX does not offer one. However, both brokers provide Windows-based desktop downloads and web-based trading platforms, ensuring flexibility for their users. For those interested in copy trading, both Alpari and LegacyFX accommodate this feature. While Alpari supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), LegacyFX only offers MT5.
In terms of charting tools, both brokers offer 15 drawing tools and provide the capability to trade directly from stock charts. They each allow for seven columns in watch lists, giving traders detailed monitoring options. Despite these similarities, Alpari stands slightly ahead with a 4-star rating for Trading Platforms and Tools, compared to LegacyFX's 3.5 stars. Alpari is ranked #55 out of 62 brokers by ForexBrokers.com in the Trading Platforms and Tools category, while LegacyFX is positioned at #59. This subtle difference in ranking and rating may sway traders towards Alpari for a slightly more polished platform experience.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Alpari and LegacyFX offer accessible solutions for iPhone and Android users. They provide real-time stock and forex price alerts, alongside the ability to create watchlists with up-to-date quotes. While neither app supports syncing watchlists between the mobile app and the client’s online account, they both allow users to draw trendlines on charts and access 30 technical studies for detailed analysis. Additionally, both apps provide the flexibility to view different time frames on charts, such as daily, weekly, or intraday options. However, a notable difference is that LegacyFX's app saves drawing annotations automatically, a feature not available with Alpari.
In terms of overall user satisfaction, Alpari edges ahead with a 4-star rating for its Mobile Trading Apps, while LegacyFX follows with a score of 3.5 stars. On the broader scale, as ranked by ForexBrokers.com, Alpari claims the 56th spot out of 62 brokers evaluated in the Mobile Trading Apps category, while LegacyFX sits slightly lower at rank 60. These rankings suggest that while both apps have similar functionality, there might be slight nuances in user experience that make Alpari a slightly preferred choice among traders.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings between Alpari and LegacyFX, there are several factors to consider. LegacyFX stands out with its provision of daily market commentary, which can be a valuable resource for traders seeking regular insights. In contrast, Alpari does not provide this type of commentary. Both brokers, however, supply forex news from reputable sources like Bloomberg and Reuters. Additionally, they share the advantage of offering technical analysis tools from Autochartist, though neither utilizes resources from Trading Central or sentiment-based trading tools displaying long or short positions across currency pairs. Furthermore, both lack market research from TipRanks or tools from Acuity Trading.
Alpari and LegacyFX both include economic calendars that track global news events, yet their research ratings differ slightly. LegacyFX is rated slightly higher with 3.5 stars compared to Alpari's 3 stars. Looking at rankings by ForexBrokers.com, LegacyFX is ranked #45, outperforming Alpari, which sits at #57 among 62 brokers in the Research category. This comparison highlights LegacyFX’s slight edge in market research capabilities and resources, potentially making it a more attractive choice for those prioritizing these services.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by online brokers Alpari and LegacyFX, both provide a variety of materials for newcomers to forex and CFDs. Each offers at least 10 educational pieces like articles, videos, and archived webinars that focus primarily on these subjects, making them useful resources for learning the basics. Additionally, both brokers provide a series of beginner-friendly videos, ensuring newcomers have access to fundamental trading concepts. They also offer comprehensive investor dictionaries with definitions for over 50 investing terms, which can be invaluable for understanding market jargon.
LegacyFX, however, goes a step further by hosting regular monthly webinars for clients, along with maintaining a searchable archive of recorded sessions. This feature makes it easier for traders to catch up on missed webinars and dive deeper into specific topics at their convenience. In contrast, Alpari does not offer regular webinars or a searchable archive of past sessions. Furthermore, LegacyFX provides a set of advanced educational videos designed for experienced traders, a feature Alpari lacks. Reflecting these differences, LegacyFX achieves a slightly higher education rating of 3.5 stars out of five, whereas Alpari is rated at three stars. According to ForexBrokers.com rankings, LegacyFX stands at 35th place out of 62 brokers for education, compared to Alpari's ranking at 48th place.
| Feature |
Alpari
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Alpari is better than LegacyFX. Alpari finished with an overall rank of #57, while LegacyFX finished with an overall rank of #62.
Alpari is one of the first brokers to offer the MetaTrader platform glopbally before it became popular. The Alpari group of companies are regulated only in a few jurisdictions, putting the broker at a disadvantage compared to the most trusted brokers.
| Feature |
Alpari
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 68 | 67 |
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Both Alpari and LegacyFX do not offer the ability to buy actual cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
Both Alpari and LegacyFX don't offer ACH or SEPA transfers and PayPal for deposits or withdrawals, but provide similar options with Skrill, Visa or Mastercard, and bank wires available for managing account funds.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Alpari | LegacyFX | |
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| Trust Score | 68 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | Alpari | LegacyFX | |
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| Regulation | Alpari | LegacyFX | |
|---|---|---|---|
| Trust Score | 68 | 67 | |
| Year Founded | 1998 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 0 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Alpari | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Alpari | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Alpari | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 105 | 425 | |
| Forex Pairs (Total) | 46 | 44 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Alpari | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Alpari | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $20 | $500 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Alpari | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Alpari | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Alpari | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Alpari | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Alpari | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Alpari | LegacyFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | LegacyFX Review |
| Overall | Alpari | LegacyFX | |
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| Trust Score | 68 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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