Written by ForexBrokers.com
In this head to head comparison of Axi 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.
When comparing online brokers Axi and LegacyFX, both companies have established themselves in the forex trading industry, albeit with distinct differences. Founded in 2007, Axi holds a Trust Score of 82 out of 99, signifying a trusted status according to ForexBrokers.com. It is noteworthy that Axi is not publicly traded nor a bank, yet it maintains a strong regulatory foundation with two Tier-1 licenses and one Tier-2 license. This regulatory compliance signals a higher level of oversight and consumer protection.
LegacyFX, founded later in 2012, holds a lower Trust Score of 67, categorizing it as a high risk broker based on ForexBrokers.com's criteria. Like Axi, LegacyFX is neither publicly traded nor a banking institution. In terms of regulatory credentials, LegacyFX holds one Tier-1 license, but lacks any Tier-2 licenses, offering it comparatively less regulatory backing. While both brokers offer online trading platforms, Axi's higher Trust Score and regulatory licenses may provide clients with added peace of mind in terms of trust and security.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Year Founded | 2007 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing Axi and LegacyFX based on commissions and fees, Axi is rated 4 out of 5 stars and holds the 43rd rank out of 63 brokers on ForexBrokers.com. Unfortunately, specific average spread data for Axi is not available, which makes it harder to determine the precise trading costs for potential investors.
LegacyFX, on the other hand, receives a 3.5 out of 5-star rating for its commissions and fees and ranks 57th. The costs and types of accounts vary significantly depending on whether you choose to trade through their EU entity, regulated by CySEC, or their international entity based in Vanuatu. EU residents can choose between Silver, Gold, and Platinum accounts, with the minimum deposit ranging from $500 to $25,000. The Platinum account offers the lowest spreads, while the Silver account incurs higher trading costs with spreads starting at 1.6 pips on EUR/USD.
For international clients trading through the Vanuatu entity, LegacyFX provides a wider variety of accounts from Standard to VIP, requiring minimum deposits between $500 and $50,000. These account types affect your level of client support and the breadth of trading tools available to you. However, the lack of average spread data for LegacyFX makes it challenging to fully gauge the true cost of trading with them.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $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 online brokers Axi and LegacyFX, both platforms provide opportunities to trade forex as either CFDs or spot contracts. Axi offers a selection of 175 tradeable symbols with 65 forex pairs, while LegacyFX provides a larger catalog of 425 symbols but only 44 forex pairs. However, neither broker allows clients to purchase exchange traded securities on either U.S. or international exchanges.
Both Axi and LegacyFX support copy trading, allowing users to emulate successful trading strategies with ease. For those interested in cryptocurrencies, both brokers offer trading through derivatives but do not facilitate buying the actual cryptocurrency. Overall, both Axi and LegacyFX receive a rating of 3.5 stars for their range of investments. When ranked among 63 brokers on ForexBrokers.com, LegacyFX fares slightly better, taking the 48th spot, with Axi close behind at 56th place.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 175 | 425 |
| Forex Pairs (Total) | 65 | 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 (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.
Both Axi and LegacyFX offer comprehensive trading platforms that cater to a range of trader needs. Each broker provides a free demo account, allowing users to engage in simulated trading. While neither has developed a proprietary platform, both offer desktop and web-based trading options to ensure flexible access. Axi is known for supporting MetaTrader 4 (MT4) and includes features like copy trading and integration with ZuluTrade, while LegacyFX focuses on MetaTrader 5 (MT5) capabilities, offering a different suite of trading techniques.
Charting tools and watchlist customization are equally robust across both platforms, with each broker providing 15 drawing tools and seven columns for watch lists. Additionally, both brokers allow users to trade directly from stock charts. Despite these offerings, Axi and LegacyFX receive an average community rating of 3.5 stars for their trading platforms and tools, reflecting room for improvement. They are ranked at the lower end by ForexBrokers.com, with Axi ranking 63rd and LegacyFX 60th out of 63 brokers, indicating a need for further enhancements to rise within this competitive space.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | 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.
Both Axi and LegacyFX offer mobile trading apps available for iPhone and Android users, providing accessibility for traders on the go. These apps come equipped with useful features such as stock or forex price alerts, and the capability to draw trendlines on charts. Additionally, both platforms allow users to view charts using multiple time frames including daily, weekly, and intraday views. Each app has a consistent offering of 30 technical studies, enabling traders to perform detailed market analysis. However, neither app supports watchlist symbol syncing, so changes made on mobile do not carry over to their online accounts.
On the customization front, both Axi and LegacyFX allow the creation of watchlists that display real-time quotes, but when it comes to saving chart drawings, LegacyFX has an edge as its app auto-saves these, while Axi does not. Despite these features, both trading apps are rated 3.5 out of five stars for their performance. In a ranking of 63 brokers by ForexBrokers.com for mobile trading apps, Axi is placed at #59 while LegacyFX is slightly lower at #61, showing similar user satisfaction levels.
| Feature |
Axi
|
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 tools, Axi and LegacyFX each have their strengths. LegacyFX stands out by offering daily market commentary, which is a useful feature for traders eager to stay updated with frequent insights. However, both brokers provide forex news from reputable sources like Bloomberg and Reuters, ensuring traders have access to high-quality information. Axi and LegacyFX both incorporate Autochartist into their offerings, providing valuable technical and fundamental analysis tools. On the other hand, neither broker currently supplies tools from Trading Central or research services from TipRanks or Acuity Trading, which could be a consideration for traders seeking those specific resources.
For those interested in sentiment analysis, Axi offers a tool displaying the ratio of long to short positions across different markets, a feature LegacyFX presently lacks. Both brokers provide an economic calendar to keep traders informed of upcoming global events. According to ratings, Axi scores 3 out of 5 stars for research, while LegacyFX edges slightly ahead with a 3.5-star rating. In rankings by ForexBrokers.com, Axi holds the 55th position out of 63 brokers in the research category, while LegacyFX ranks somewhat higher at 46th place. These distinctions make LegacyFX a slightly more favored choice for those who prioritize a more comprehensive research experience.
| Feature |
Axi
|
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 | Yes | 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 interested in forex and CFDs, both Axi and LegacyFX offer a broad selection of materials. Both platforms provide more than ten educational pieces, including articles, videos, and webinars focused on forex and CFDs, making them valuable for newcomers eager to learn. Additionally, both brokers conduct at least one online educational webinar monthly to enhance client knowledge. While Axi provides a sizable collection of beginner videos, LegacyFX complements its offering by providing an archive of past webinars that users can search to find specific content.
LegacyFX stands out for more advanced learners by offering at least ten advanced videos on trading topics, a feature that Axi currently does not provide. Both brokers offer an investor dictionary with comprehensive definitions of over 50 investing terms. Overall, Axi is rated 3 stars for education, ranking it #27 out of 63 brokers on ForexBrokers.com, whereas LegacyFX receives a slightly higher rating of 3.5 stars, although it ranks #35 in the education category. This ranking suggests that while both brokers provide valuable educational tools, their offerings cater to slightly different user needs.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | 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 Axi is better than LegacyFX. Axi finished with an overall rank of #49, while LegacyFX finished with an overall rank of #63.
Axi, previously known as AxiTrader, is an evolving brand regulated in Australia, the UK, and the UAE. With just the MetaTrader platform available and a limited range of investment products, Axi lags behind the best multi-asset brokers.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 82 | 67 |
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Both Axi and LegacyFX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
When comparing online brokers Axi and LegacyFX, neither offers ACH or SEPA transfers, nor PayPal for depositing or withdrawing funds, while both support Skrill, Visa or Mastercard, and bank wire options for seamless financial transactions.
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 | Axi | LegacyFX | |
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| Trust Score | 82 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | Axi | LegacyFX | |
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| Regulation | Axi | LegacyFX | |
|---|---|---|---|
| Trust Score | 82 | 67 | |
| Year Founded | 2007 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Axi | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | Yes | 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) | Axi | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Axi | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 175 | 425 | |
| Forex Pairs (Total) | 65 | 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 (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 | Axi | 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 | Axi | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | Axi | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | Axi | 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 | Axi | 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 | No | Yes |
| Research | Axi | 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 | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Axi | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | 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 | Axi | 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 | Axi | LegacyFX | |
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| Trust Score | 82 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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