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 |
Alpari holds a commendable position in the online brokerage world, particularly in its commissions and fees structure. With an impressive 4-star rating, Alpari ranks #41 out of 63 brokers per ForexBrokers.com’s assessment. However, specific average spread data is not available for Alpari, making it a bit challenging to assess the full cost of trading with them. Despite this, its reputation in the industry suggests it offers competitive trading conditions for its users.
LegacyFX presents a more varied scenario depending on the entity with which traders decide to open an account. In the EU, clients can choose between Silver, Gold, and Platinum accounts with minimum deposits ranging from $500 to $25,000. Spreads on these accounts differ, with the Platinum account providing the tightest spreads. International clients dealing with LegacyFX’s Vanuatu entity can opt for one of seven account types, each requiring different minimum deposits and offering distinct levels of service and access to trading tools.
Despite its diverse account offerings, LegacyFX receives a slightly lower rating of 3.5 stars in terms of commissions and fees. It ranks as the 57th broker out of 63 in this category according to ForexBrokers.com. The absence of average spread data makes it difficult to evaluate the precise cost-effectiveness of LegacyFX, potentially impacting its appeal to cost-conscious traders.
| 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 comparing the range of investments offered by Alpari and LegacyFX, both brokers provide the opportunity to trade forex via CFDs or spot contracts. Al pari grants access to 105 tradable symbols, including 46 forex pairs, whereas LegacyFX provides a broader selection with 425 tradable symbols, featuring 44 forex pairs. Neither broker permits clients to purchase exchange-traded securities on U.S. exchanges. However, Alpari stands out by allowing investments in international exchanges, such as buying Vodafone shares, which LegacyFX does not offer. Both platforms support copy trading and provide cryptocurrency derivatives instead of letting traders buy actual cryptocurrencies.
In terms of ratings, Alpari receives 3 out of 5 stars for its range of investments, while LegacyFX scores slightly higher with 3.5 stars. According to ForexBrokers.com, Alpari ranks last at 63rd out of 63 brokers in the Range of Investments category, whereas LegacyFX holds a more favorable position, ranking 48th. These distinctions highlight differing strengths and opportunities for traders seeking comprehensive investment offerings and support for their trading strategies.
| 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.
When comparing Alpari and LegacyFX's trading platforms and tools, several differences and similarities emerge. Alpari stands out by providing a proprietary platform, allowing users to enjoy a unique experience tailored by the broker itself. In contrast, LegacyFX doesn't offer a proprietary platform but instead focuses on widely-used solutions. Both brokers support MetaTrader 5 (MT5), but Alpari also offers MetaTrader 4 (MT4), which is not available at LegacyFX. If you're interested in simulated trading to test strategies without financial risk, both brokers offer free virtual demo accounts, providing a great way for novices and experts alike to practice trading under real-market conditions. Additionally, both offer Windows-based desktop and web-based platforms, meeting the needs of various trading preferences.
For traders keen on copying strategies, both Alpari and LegacyFX incorporate copy trading in their services. They also provide an equal number of 15 drawing tools for charting and allow trades to be executed directly from stock charts, demonstrating a focus on user flexibility and efficiency. However, the availability of technical indicators is undetermined for both brokers. Regarding watch list customization, users of both platforms can utilize seven different fields to organize their trading activities. In terms of ratings, Alpari edges out with a 4-star rating for Trading Platforms and Tools compared to LegacyFX's 3.5-star rating. Furthermore, in a comparative analysis by ForexBrokers.com, Alpari ranks at #55 while LegacyFX ranks slightly lower at #60 out of 63 brokers, showcasing Alpari's slight advantage in platform offerings and tools.
| 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 comparing the mobile trading apps of Alpari and LegacyFX, both brokers provide applications available for iPhone and Android users. Both apps offer essential features like stock and forex price alerts, the ability to draw trendlines on charts, and support for viewing different time frames such as daily or weekly. Also, each app allows users to create watchlists with real-time quotes, making it easy to monitor market changes while on the go. For charting capabilities, both apps come equipped with 30 technical studies, offering traders a broad range of indicators to analyze the markets.
However, there are a few distinctions between the two. LegacyFX’s app has the added advantage of automatically saving drawings on charts, a feature that Alpari's app lacks. On the other hand, both apps do not support watchlist syncing with the client's online account. When it comes to user ratings, Alpari edges out with a higher rating of 4 stars compared to LegacyFX’s 3.5 stars. According to ForexBrokers.com, Alpari is ranked at #56 out of 63 brokers for mobile trading apps, while LegacyFX comes in at #61, indicating a slightly better user experience with Alpari.
| 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 comparing Alpari and LegacyFX, both online brokers demonstrate a similar commitment to keeping their traders informed with high-quality forex news from top-tier sources like Bloomberg and Reuters. They also provide valuable technical analysis tools from Autochartist and maintain economic calendars to track significant global economic events. However, one primary distinction lies in LegacyFX's daily market commentary, which Alpari does not offer, providing LegacyFX an edge in delivering timely insights for traders seeking daily updates.
On a broader scale, neither Alpari nor LegacyFX provides tools from Trading Central, sentiment-based trading tools, or insights from companies like TipRanks or Acuity Trading. Despite these similarities, LegacyFX slightly outperforms Alpari in terms of research services, reflected in its higher rating of 3.5 stars compared to Alpari’s 3 stars. This is further reinforced by their rankings on ForexBrokers.com, where LegacyFX ranks 46th, showcasing a better overall position than Alpari's rank of 57th in the research category.
| 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 it comes to educational resources for beginners in forex and CFD trading, both Alpari and LegacyFX offer a range of materials. Each platform provides a minimum of ten educational pieces, such as articles and videos, tailored to forex and CFDs. Beginner traders can also access at least ten educational videos dedicated to foundational trading topics on both platforms. Additionally, both Alpari and LegacyFX offer an investor dictionary with over 50 investing terms, providing newcomers with valuable definitions to help them understand financial terminology.
However, LegacyFX edges out Alpari by also delivering monthly online educational webinars and maintaining a searchable archive of past sessions, enabling ongoing learning for their users. On the advanced education front, LegacyFX distinguishes itself by offering over ten advanced educational videos designed for experienced traders, a feature absent in Alpari's offerings. Reflecting these differences, LegacyFX has a slightly higher education rating of 3.5 stars, compared to Alpari's 3 stars, placing them at #35 and #48, respectively, in the ForexBrokers.com education rankings.
| 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 63 of the best forex brokers, our research and account testing finds that Alpari is better than LegacyFX. Alpari finished with an overall rank of #58, while LegacyFX finished with an overall rank of #63.
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
|
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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