Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets 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.
BlackBull Markets, established in 2014, and LegacyFX, founded in 2012, are both online brokers not publicly traded or recognized as banks. Both companies hold one Tier-1 license, indicating a high level of trust, according to ForexBrokers.com. Despite their similar regulatory standing, BlackBull Markets boasts a Trust Score of 78, positioning it as an average risk broker. Meanwhile, LegacyFX has a Trust Score of 67, categorizing it as a high-risk broker by the same standards.
While neither broker holds any Tier-2 licenses, BlackBull Markets appears to offer a slightly more trustworthy profile based on industry ratings. The differences in Trust Scores highlight the importance of evaluating regulatory credentials alongside broker offerings. Potential users should consider these factors when assessing the suitability of either BlackBull Markets or LegacyFX for their trading needs.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2014 | 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 | 1 | 1 |
BlackBull Markets and LegacyFX offer varied options for traders, particularly when it comes to commissions and fees. BlackBull Markets provides three account types: Standard, Prime, and ECN Institutional. The Standard account is commission-free with no minimum deposit requirement but comes with higher spreads. The Prime account, preferred for its lower spread of 0.16 on EUR/USD, requires a $2,000 minimum deposit and charges commissions of $6 per 10,000 traded. The ECN Institutional account, targeting active traders with a starting deposit of $20,000, offers the lowest commission rate of $4 per round turn. BlackBull Markets scores 4.5 stars and ranks 18th out of 63 brokers in the Commissions and Fees category.
LegacyFX's account options depend on whether you choose their EU or international entity. The EU entity, overseen by CySEC, offers Silver, Gold, and Platinum accounts, with minimum deposits of $500, $5,000, and $25,000, respectively. The trading costs reduce as you upgrade, with the lowest spreads available on the Platinum account. For international clients, LegacyFX operates under its Vanuatu entity, providing seven account types ranging from Standard to VIP, with minimum deposits extending from $500 to $50,000. Services offered improve as the accounts scale up, but average spread data is not readily available, which might make assessing the true cost challenging. LegacyFX receives 3.5 stars and is ranked 57th out of 63 brokers in the same category.
In summary, BlackBull Markets offers more competitive pricing, especially for those who can meet the Prime or ECN Institutional account requirements, boasting a higher rating and better ranking than LegacyFX. LegacyFX, however, provides a broader selection of account types catering to both EU and international clients, though they fall short in spread transparency and rank lower in affordability. Both brokers offer unique advantages, but traders should consider the costs and account benefits aligned with their individual trading strategies and requirements.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $500 |
| Average Spread EUR/USD - Standard | 0.71 | N/A |
| All-in Cost EUR/USD - Active | 0.71 | 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 BlackBull Markets to LegacyFX in terms of investment offerings, several key differences emerge. BlackBull Markets stands out with an impressive array of 26,000 tradeable symbols, significantly surpassing LegacyFX's 425. In the forex space, BlackBull Markets continues to hold the upper hand with 72 tradeable forex pairs compared to LegacyFX's 44. Both brokers provide forex trading as a CFD or spot contract, and offer options for cryptocurrency trading via derivatives, though neither supports the purchase of actual cryptocurrencies. An important distinction is that BlackBull Markets provides access to exchange-traded securities on U.S. and international exchanges, allowing investments in major companies like Apple and Vodafone, a feature LegacyFX does not offer.
While both platforms support copy trading, BlackBull Markets receives a superior rating for its range of investments, boasting a full 5-star rating compared to LegacyFX's 3.5 stars. This excellence is reflected in their rankings, with BlackBull Markets positioned at an impressive #6 out of 63 brokers according to ForexBrokers.com, as opposed to LegacyFX, which is ranked at #48. For those prioritizing a wide selection of investment opportunities, BlackBull Markets offers a more comprehensive platform, appealing to traders seeking diverse investment avenues.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 425 |
| Forex Pairs (Total) | 72 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | 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 BlackBull Markets and LegacyFX in terms of their trading platforms and tools, both brokers provide access to virtual demo accounts, enabling traders to practice their strategies without risk. Neither offers a proprietary platform, but both support Windows-based and web-based platforms, making access convenient for different trading preferences. However, the diversity of trading options slightly tilts in favor of BlackBull Markets as it offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX supports only MetaTrader 5. Additionally, BlackBull Markets stands out with the inclusion of ZuluTrade for copy trading, an option not present at LegacyFX.
Charting tools and customization differ notably between the two, with BlackBull Markets providing 60 drawing tools compared to LegacyFX’s 15. Both brokers allow for trading directly from a stock chart, which can enhance trading efficiency. When it comes to watchlist customization, LegacyFX offers one more column than BlackBull Markets. In terms of ratings, BlackBull Markets scores higher with a 4-star rating for trading platforms and tools, ranking 29th out of 63 brokers according to ForexBrokers.com. In contrast, LegacyFX earns 3.5 stars and ranks 60th, indicating more developed features and customer satisfaction with BlackBull Markets.
| Feature |
BlackBull Markets
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 30 |
| Charting - Drawing Tools (Total) | 60 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both BlackBull Markets and LegacyFX offer solid options for traders using iPhones and Android devices. They both provide stock and forex price alerts and let users draw trendlines on charts. Additionally, each app supports viewing charts across multiple time frames, saving drawings, and creating watchlists with real-time quotes. However, BlackBull Markets takes the lead with its watchlist symbol syncing feature, which ensures any changes made are reflected across devices. This feature is notably absent from the LegacyFX app. Both apps offer 30 technical studies for charting, providing traders with a comprehensive toolset for analysis.
Rated four stars, BlackBull Markets outshines LegacyFX, which has a 3.5-star rating in the mobile trading app category. The difference in user satisfaction is further highlighted by their rankings; BlackBull Markets secures a position at #31 out of 63 brokers, while LegacyFX finds itself at #61 according to ForexBrokers.com. These ratings suggest that while both apps serve traders well, BlackBull Markets edges ahead with its superior syncing capabilities and overall user experience. This makes it a more attractive choice for traders seeking seamless integration across devices.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
When comparing BlackBull Markets to LegacyFX for market research offerings, both platforms provide daily market commentary, ensuring regular updates for traders. However, LegacyFX stands out by offering forex news from top-tier sources such as Bloomberg and Reuters, whereas BlackBull Markets does not have this feature. Both brokers provide technical analysis and fundamental research tools from Autochartist, enabling traders to make informed decisions. Neither BlackBull Markets nor LegacyFX offers tools from Trading Central or market research from TipRanks, keeping their research toolkits on similar ground in these areas.
A key difference between the two is BlackBull Markets' sentiment-based trading tool, which gives traders insights into long and short positions across currency pairs, a feature that LegacyFX lacks. Both brokers provide an economic calendar to track global news events, catering to traders interested in macroeconomic trends. With a research rating of 4 stars and a rank of 18th out of 63 brokers from ForexBrokers.com, BlackBull Markets edges ahead compared to LegacyFX's 3.5-star rating and 46th rank. This ranking suggests that BlackBull Markets offers slightly more comprehensive market research tools and insights for its users.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | 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, BlackBull Markets and LegacyFX both offer valuable content to help new traders learn the ropes of forex and CFD trading. Both brokers provide a minimum of 10 educational pieces, including articles, videos, and archived webinars, focusing primarily on forex and CFDs. Additionally, they each offer online webinars for their clients at least once a month, ensuring ongoing learning opportunities. If you're interested in revisiting past webinars, both brokers supply a searchable archive of previously recorded sessions, making it simple to find the information you need at your convenience.
For those looking for video content tailored to beginners, both BlackBull Markets and LegacyFX deliver by providing at least 10 beginner-friendly educational videos. They extend this offer to advanced traders as well, with at least 10 videos covering topics suited for more experienced individuals. To further aid in understanding complex trading language, both brokers maintain an investor dictionary with over 50 investing terms. However, when rated for education, BlackBull Markets edges out with a 4-star rating compared to LegacyFX's 3.5 stars. According to ForexBrokers.com, BlackBull Markets ranks higher at 29th, while LegacyFX holds the 35th position out of 63 brokers in the education category. Whether you're just starting or looking to deepen your knowledge, both brokers provide a range of resources to support your trading journey.
| Feature |
BlackBull Markets
|
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 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than LegacyFX. BlackBull Markets finished with an overall rank of #24, while LegacyFX finished with an overall rank of #63.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 67 |
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Both BlackBull Markets and LegacyFX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to buy cryptocurrency derivatives, allowing investors to engage in crypto trading without owning the actual digital currency.
Both BlackBull Markets and LegacyFX provide similar funding options, allowing deposits and withdrawals via Skrill, Visa/Mastercard, and bank wires, but neither broker supports ACH, SEPA transfers, or PayPal as payment methods.
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 | BlackBull Markets | LegacyFX | |
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| Trust Score | 78 | 67 | |
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| Review | BlackBull Markets Review | LegacyFX Review |
| Broker Screenshots | BlackBull Markets | LegacyFX | |
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| Regulation | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 78 | 67 | |
| Year Founded | 2014 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | BlackBull Markets | 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 | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 425 | |
| Forex Pairs (Total) | 72 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | 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 | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.71 | N/A | |
| All-in Cost EUR/USD - Active | 0.71 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | 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 | BlackBull Markets | 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) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 109 | 30 | |
| Charting - Drawing Tools (Total) | 60 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | 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 | 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 | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | 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 | BlackBull Markets | 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 | BlackBull Markets Review | LegacyFX Review |
| Overall | BlackBull Markets | LegacyFX | |
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| Trust Score | 78 | 67 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | LegacyFX Review |
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