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CMC Markets vs LegacyFX 2022

ForexBrokers.com

Written by ForexBrokers.com

Last updated August 25, 2022
Published July 15, 2022

Is CMC Markets better than LegacyFX? In our analysis of 23 international regulators across 39 brokers, CMC Markets is considered low-risk, with an overall Trust Score of 99 out of 99. LegacyFX is considered average-risk, with an overall Trust Score of 75 out of 99. Learn more about Trust Score.

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Overall Rating expand_moreexpand_less CMC Markets LegacyFX
Overall Rating
Commissions & Fees
Offering of Investments
Platform & Tools
Mobile Trading
Research
Education
Trust Score 99 75
Winner check_circle
Review CMC Markets Review LegacyFX Review
Regulation expand_moreexpand_less CMC Markets LegacyFX
Trust Score 99 75
Year Founded 1989 2012
Publicly Traded (Listed) Yes No
Bank No No
Tier-1 Licenses 5 1
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Authorised in European Union Yes Yes
Tier-1 Licenses (High Trust) expand_moreexpand_less CMC Markets LegacyFX
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) Yes No
Tier-2 Licenses (Average Trust) expand_moreexpand_less CMC Markets LegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
NSE Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust) expand_moreexpand_less CMC Markets LegacyFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
Investments expand_moreexpand_less CMC Markets LegacyFX
Forex Trading Yes Yes
Trading - Forex or CFDs Yes Yes
Tradeable Symbols (Total) 11927 425
Forex Pairs (Total) 158 41
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) Yes 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 expand_moreexpand_less CMC Markets LegacyFX
Average Spread EUR/USD - Standard 0.73 (August 2021) 0
All-in Cost EUR/USD - Active N/A 0
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes No
Funding expand_moreexpand_less CMC Markets LegacyFX
Minimum Initial Deposit $0 $500
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) No Yes
Trading Platforms expand_moreexpand_less CMC Markets 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) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading Tools expand_moreexpand_less CMC Markets LegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 9 7
Charting - Indicators / Studies (Total) 86 30
Charting - Drawing Tools (Total) 40 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile Trading expand_moreexpand_less CMC 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 29 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes No
Research expand_moreexpand_less CMC Markets LegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes No
Autochartist Yes Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
Education expand_moreexpand_less CMC Markets LegacyFX
Has 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 expand_moreexpand_less CMC 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 CMC Markets Review LegacyFX Review
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CMC Markets vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare CMC Markets vs LegacyFX.

Does CMC Markets 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, CMC Markets offers better pricing overall for traders.

Is CMC Markets 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. CMC Markets holds 5 global Tier-1 licenses, while LegacyFX holds 1. Both CMC Markets and LegacyFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, CMC Markets earned a higher Trust Score than LegacyFX.

Which trading platform is better: CMC Markets or LegacyFX?

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

How many forex pairs and CFDs are available to trade?

CMC Markets provides traders 158 currency pairs (e.g., EUR/USD) compared to LegacyFX's 41 available pairs. Forex pairs aside, CMC Markets offers traders access to 11927 CFDs while LegacyFX has 425 available CFDs, a difference of 11502.

Can I trust CMC Markets?

CMC Markets is publicly traded, does not operate a bank, and is authorised by five tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). CMC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).

Can I trust LegacyFX?

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

Is CMC Markets good?

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.

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: CMC Markets

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