Written by ForexBrokers.com
In this head to head comparison of BDSwiss 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.
BDSwiss and LegacyFX, both established in 2012, offer services as online brokers without being publicly traded or operating as banks. When it comes to regulatory trust, BDSwiss holds a slight edge with a Tier-1 license, the highest level of trust recognized by ForexBrokers.com. Similarly, LegacyFX also possesses a Tier-1 license. Neither broker has any Tier-2 licenses, which are still considered a sign of trust according to the rating system used by ForexBrokers.com.
In terms of overall trust and risk assessment, BDSwiss secures a Trust Score of 73 out of 99, categorizing it at an average risk level. On the other hand, LegacyFX has a Trust Score of 67, placing it in the high-risk category. These scores reflect the perceived reliability and regulatory compliance of each broker, providing potential investors with an insightful comparison for making informed decisions.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Year Founded | 2012 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
BDSwiss and LegacyFX offer competitive trading conditions, but when comparing their commissions and fees, there are notable differences. BDSwiss offers a range of accounts with variable spreads and commission structures, aiming to provide adequate order execution despite higher spreads compared to industry leaders. Its Classic account has a spread of 1.5 pips on EUR/USD, which may be seen as costly. The Raw account offers a more competitive scenario with a 0.3 pips spread plus a $5 commission per side, totaling an effective spread of 1.3 pips. For those opting for the VIP experience, the account has a spread of 1.2 pips. BDSwiss earns a solid 4-star rating for its commissions and fees, ranking #30 out of 62 brokers assessed by ForexBrokers.com.
LegacyFX, on the other hand, offers varied account options across its EU and international entities. The EU-regulated accounts—Silver, Gold, and Platinum—require minimum deposits of $500, $5,000, and $25,000 respectively, with the Platinum account offering the most favorable spreads. However, the Silver account features higher costs, such as a minimum spread of 1.6 pips on EUR/USD. For its international clients, LegacyFX provides a broader range of accounts from Standard to VIP, with added client support and trading tool access as you move up tiers. Despite its offerings, LegacyFX lacks transparency in average spreads, resulting in a slightly lower 3.5-star rating for commissions and fees, and it ranks #56 in the same category according to ForexBrokers.com.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $10-$5000 | $500 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 1.3 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | 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 BDSwiss and LegacyFX on their range of available investments, both platforms provide access to forex trading as CFDs or spot contracts, making them a viable choice for traders interested in currencies. However, BDSwiss stands out with a total of 1,081 tradeable symbols, while LegacyFX offers 425. For forex pairs, BDSwiss again offers more options with 53 pairs available compared to LegacyFX's 44. Neither broker offers exchange-traded securities on U.S. or international exchanges, meaning investors cannot directly purchase stocks like Apple or Vodafone. Both BDSwiss and LegacyFX provide opportunities for copy trading and cryptocurrency derivatives, but neither supports the direct purchase of actual cryptocurrencies.
In terms of ratings, BDSwiss received 4 out of 5 stars for its range of investments, securing the 34th spot out of 62 brokers according to ForexBrokers.com. LegacyFX was rated slightly lower, with 3.5 stars, and holds the 48th position in the same ranking. These ratings reflect BDSwiss's broader selection of tradeable symbols and forex pairs, giving it a slight edge over LegacyFX in offering a diverse array of investment opportunities.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1081 | 425 |
| Forex Pairs (Total) | 53 | 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.
BDSwiss and LegacyFX both provide essential tools for traders, including a free virtual demo account to practice trading strategies. BDSwiss stands out with its proprietary platform, offering traders an exclusive in-house developed environment, while LegacyFX relies on established third-party platforms. Both brokers cater to different user preferences with available Windows desktop and web-based platforms. The MetaTrader 4 platform is part of BDSwiss's offerings but isn't available with LegacyFX, which might be a deciding factor for users who prefer this specific platform. However, both brokers offer MetaTrader 5, ensuring access to more advanced trading features.
Copy trading capabilities are available with both BDSwiss and LegacyFX, supporting users who wish to follow the trades of others. While neither platform supports DupliTrade or ZuluTrade, they equip users with various charting tools and the ability to trade directly from stock charts. Each broker provides 15 drawing tools for charting and seven columns for watch lists, catering to the needs of detail-oriented traders. Overall, BDSwiss is slightly favored with a 4-star rating and ranks 24th out of 62 brokers, whereas LegacyFX holds a commendable 3.5-star rating and is ranked 59th. These distinctions might guide traders looking for specific features and rankings in trading platforms and tools.
| Feature |
BDSwiss
|
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 BDSwiss and LegacyFX, both platforms offer a comprehensive experience for iPhone and Android users, featuring essential capabilities like stock and forex price alerts. Each app provides an impressive array of 30 technical studies, the ability to draw trendlines, and supports viewing multiple time frames, ensuring traders have the tools needed for in-depth analysis. Additionally, both platforms allow for creating watchlists with real-time quotes, and any drawings on charts are automatically saved for user convenience. However, neither app offers syncing for watchlist symbols between the mobile app and the online account, which could be a consideration for traders who rely on cross-platform consistency.
Despite the similarities in features, BDSwiss holds a higher rating for its mobile trading app experience, boasting four out of five stars compared to LegacyFX's 3.5 stars. Furthermore, BDSwiss ranks significantly higher in the Mobile Trading Apps category according to ForexBrokers.com, coming in at #24 out of 62 brokers, while LegacyFX is positioned at #60. These distinctions may sway traders who prioritize app usability and overall performance in their mobile trading journey.
| Feature |
BDSwiss
|
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 | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both BDSwiss and LegacyFX provide traders with daily market commentaries, offering valuable insights into market movements. However, when it comes to accessing news from top-tier sources like Bloomberg and Reuters, LegacyFX stands out as the better choice, while BDSwiss lacks in this area. Both brokers equip their users with advanced tools from Autochartist to enhance their technical analysis and research capabilities. BDSwiss further distinguishes itself by offering additional resources from Trading Central, adding depth to its research toolkit, a feature that LegacyFX does not provide.
While neither broker offers sentiment analysis tools or services from Acuity Trading and TipRanks, they both offer comprehensive economic calendars to track global news events. In terms of research ratings, BDSwiss scores slightly higher with 4 stars compared to LegacyFX's 3.5 stars. This is reflected in their respective rankings by ForexBrokers.com, where BDSwiss holds the 24th position, outperforming LegacyFX, which is ranked 45th. These distinctions make BDSwiss a more appealing choice for traders prioritizing research and analysis capabilities.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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, both BDSwiss and LegacyFX offer extensive content to help new traders get started. Each broker provides at least 10 pieces of educational materials, which include articles, videos, and archived webinars focused on forex and CFDs. These resources are designed to support new traders as they become familiar with the financial markets. Both brokers host webinars for their clients every month and maintain searchable archives of these sessions, making it easier for users to revisit key insights and deepen their knowledge at their own pace.
For those looking to expand their learning through video content, both BDSwiss and LegacyFX have a selection of at least 10 videos for beginners and 10 videos catering to advanced topics for seasoned traders. These are complemented by investor dictionaries with over 50 investing terms, ensuring users can understand industry-specific jargon. While BDSwiss slightly outranks LegacyFX in educational quality with a 4-star rating compared to LegacyFX's 3.5 stars, and ranks 19th out of 62 brokers compared to LegacyFX's 35th place on ForexBrokers.com, both platforms present strong educational offerings to support beginner traders.
| Feature |
BDSwiss
|
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 |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that BDSwiss is better than LegacyFX. BDSwiss finished with an overall rank of #36, while LegacyFX finished with an overall rank of #62.
The BDSwiss brand caters to over 1.6 million registered forex and CFD traders, and offers the full MetaTrader platform suite alongside its own proprietary mobile app. BDSwiss demonstrates good order execution statistics and provides access to over 1,000 tradable symbols – though its spreads are higher than industry leaders.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
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| Trust Score | 73 | 67 |
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BDSwiss and LegacyFX both provide the option to purchase cryptocurrency derivatives rather than actual cryptocurrencies, but neither offers the ability to buy and have cryptocurrencies delivered.
When comparing online brokers BDSwiss and LegacyFX, BDSwiss provides more versatility with funding options, offering ACH and SEPA transfers, unlike LegacyFX, both support Skrill, Visa, Mastercard, and bank wires, but neither support PayPal.
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 | BDSwiss | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | BDSwiss Review | LegacyFX Review |
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| Regulation | BDSwiss | LegacyFX | |
|---|---|---|---|
| Trust Score | 73 | 67 | |
| Year Founded | 2012 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | BDSwiss | 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) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | BDSwiss | 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 | BDSwiss | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1081 | 425 | |
| Forex Pairs (Total) | 53 | 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 | BDSwiss | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 1.3 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | BDSwiss | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $10-$5000 | $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 | Yes | No |
| Trading Platforms | BDSwiss | 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 | BDSwiss | 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 | BDSwiss | 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 | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | BDSwiss | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | BDSwiss | 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 | BDSwiss | 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 | BDSwiss Review | LegacyFX Review |
| Overall | BDSwiss | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | BDSwiss Review | LegacyFX Review |
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