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AvaTrade vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is AvaTrade better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, AvaTrade is considered low-risk, with an overall Trust Score of 93 out of 99. LegacyFX is considered average-risk, with an overall Trust Score of 66 out of 99. Learn more about Trust Score.

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Compare

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Overall RatingAvaTradeLegacyFX
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading 4.5/5 Stars 3.5/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Trust Score 93 66
Winner check_circle
Review AvaTrade Review LegacyFX Review
Broker ScreenshotsAvaTradeLegacyFX
Trading Platforms Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Gallery (click to expand)
Education Gallery (click to expand)
RegulationAvaTradeLegacyFX
Trust Score 93 66
Year Founded 2006 2012
Publicly Traded (Listed) No No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Tier-1 Licenses 4 0
Tier-2 Licenses 4 1
Tier-3 Licenses 1 1
Tier-1 Licenses (High Trust)AvaTradeLegacyFX
Australia (ASIC Authorised) Yes No
Canada (SRO Authorised) Yes No
Hong Kong (SFC Authorised) No No
CBI Authorised (Ireland) Yes No
Japan (SFC Authorised) Yes 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
Tier-2 Licenses (Average Trust)AvaTradeLegacyFX
China (CBRC Authorised) No No
Cyprus (CySEC Authorised) Yes Yes
India (SEBI Authorised) No No
Israel (ISA Authorised) Yes No
Russia (CBR Authorised) No No
South Africa (FSCA Authorised) Yes No
Thailand (SEC Authorised) No No
UAE (DFSA/Central Bank Authorised) Yes No
Tier-3 Licenses (Low Trust)AvaTradeLegacyFX
Bahamas (SCB Authorised) No No
Belize (FSC Authorised) No No
Cayman Islands (CIMA Authorised) No No
Bermuda (BMA Authorised) No No
British Virgin Islands (FSC Authorised) Yes No
Mauritius (FSC Authorised) No No
Vanuatu (VFSC Authorised) No Yes
InvestmentsAvaTradeLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 1260 425
Forex Pairs (Total) 55 44
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostAvaTradeLegacyFX
Average Spread EUR/USD - Standard 0.92 info N/A
All-in Cost EUR/USD - Active 0.61 info N/A
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingAvaTradeLegacyFX
Minimum Deposit $100 $500
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsAvaTradeLegacyFX
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 Yes No
ZuluTrade Yes No
Trading ToolsAvaTradeLegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 7 7
Charting - Indicators / Studies (Total) 80 30
Charting - Drawing Tools (Total) 13 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingAvaTradeLegacyFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 73 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar Yes Yes
ResearchAvaTradeLegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationAvaTradeLegacyFX
Education (Forex or CFDs) Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsAvaTradeLegacyFX
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 AvaTrade Review LegacyFX Review
OverallAvaTradeLegacyFX
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading 4.5/5 Stars 3.5/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Trust Score 93 66
Winner check_circle
Review AvaTrade Review LegacyFX Review
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AvaTrade vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare AvaTrade vs LegacyFX.

Does AvaTrade or LegacyFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, AvaTrade offers better pricing overall for traders.

Is AvaTrade or LegacyFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. AvaTrade holds 4 global Tier-1 licenses, while LegacyFX holds 0. AvaTrade holds 4 global Tier-2 licenses, while LegacyFX holds 1. In our analysis of 23 international regulators across 50 brokers, AvaTrade earned a higher Trust Score than LegacyFX.

Which trading platform is better: AvaTrade or LegacyFX?

To compare the trading platforms of both AvaTrade and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, AvaTrade offers a better experience. With research, AvaTrade offers superior market research. Finally, we found AvaTrade to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.AvaTrade and LegacyFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

AvaTrade provides traders 55 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. Forex pairs aside, AvaTrade offers traders access to 1260 CFDs while LegacyFX has 425 available CFDs, a difference of 835.

Can I trust AvaTrade?

AvaTrade is not publicly-traded and does not operate a bank. AvaTrade is authorised by four tier-1 regulators (high trust), four tier-2 regulators (average trust), and one tier-3 regulator (low trust). AvaTrade is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Central Bank of Ireland (CBI) and the Japanese Financial Services Authority (JFSA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

Can I trust LegacyFX?

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Is AvaTrade good?

AvaTrade is a trusted global brand best known for offering an extensive selection of trading platforms for forex and CFD traders, as well as exceptional educational content that helped it nab a Best in Class rating for Beginners for 2022.

Is LegacyFX good?

LegacyFX is a plain-vanilla MetaTrader 5 (MT5) broker that offers a medium range of CFD markets and forex pairs. It has built a good foundation of research offerings, and its investor education content is on par with the industry average. Overall, LegacyFX still has room to grow, and trails behind the best MetaTrader brokers.

Overall winner: AvaTrade

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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