Written by ForexBrokers.com
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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0 of 5| Overall Rating | AvaTrade | LegacyFX | |
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| Trust Score | 93 | 66 | |
| Winner | check_circle | ||
| Review | AvaTrade Review | LegacyFX Review |
| Broker Screenshots | AvaTrade | LegacyFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
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| Mobile Trading Gallery (click to expand) | |||
| Education Gallery (click to expand) |
| Regulation | AvaTrade | LegacyFX | |
|---|---|---|---|
| Trust Score | 93 | 66 | |
| Year Founded | 2006 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| European Union Authorised (MiFID) | Yes | Yes | |
| Tier-1 Licenses | 4 | 0 | |
| Tier-2 Licenses | 4 | 1 | |
| Tier-3 Licenses | 1 | 1 |
| Tier-1 Licenses (High Trust) | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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) | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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) | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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 |
| Investments | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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). |
| Cost | AvaTrade | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.92 | N/A | |
| All-in Cost EUR/USD - Active | 0.61 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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 Platforms | AvaTrade | 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 | Yes | No | |
| ZuluTrade | Yes | No |
| Trading Tools | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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 Trading | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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 |
| Research | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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 |
| Education | AvaTrade | LegacyFX | |
|---|---|---|---|
| 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 Pairs | AvaTrade | LegacyFX | |
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| 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 |
| Overall | AvaTrade | LegacyFX | |
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| Trust Score | 93 | 66 | |
| Winner | check_circle | ||
| Review | AvaTrade Review | LegacyFX Review |
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.
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.
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.
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.
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.
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.
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).
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).
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.
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
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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