Written by ForexBrokers.com
In this head to head comparison of Eightcap 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 Eightcap and LegacyFX, one can see some clear differences in their trust ratings and regulatory standings. Founded in 2009, Eightcap holds three Tier-1 licenses, considered highly trusted by ForexBrokers.com, contributing to a Trust Score of 85 out of 99, placing it in the "trusted" category. On the other hand, LegacyFX, founded in 2012, holds one Tier-1 license and has a Trust Score of 67, which categorizes it as "high risk." Neither Eightcap nor LegacyFX is publicly traded or operates as a bank.
While both brokers have been around for over a decade, Eightcap appears to offer greater regulatory reassurance with more Tier-1 licenses and a higher trust score. This could be an important consideration for traders seeking a more secure trading environment. As always, understanding the regulatory framework and trust scores can be crucial in making informed decisions when selecting an online broker.
| Feature |
Eightcap
|
LegacyFX
|
|---|---|---|
| Year Founded | 2009 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing Eightcap and LegacyFX for commissions and fees, both brokers provide several account options with different cost structures. Eightcap offers two main account types, the commission-based Raw account and the spread-only Standard account. The Raw account lists an average spread of 0.06 pips, but with an additional commission of $3.50 per trade, the all-in cost is around 0.76 pips, slightly below the industry average. Eightcap, rated 4 out of 5 stars for commissions and fees, is ranked #26 out of 63 brokers by ForexBrokers.com.
LegacyFX, on the other hand, operates within both EU regulations under CySEC and international regulations in Vanuatu, offering tailored account types per region. In the EU, three account types are available: Silver, Gold, and Platinum, with minimum deposits ranging from $500 to $25,000. The Platinum account provides the tightest spreads, while the Silver account incurs higher costs, with spreads starting at 1.6 pips for EUR/USD. LegacyFX advertises seven account tiers for international clients, with varying deposit requirements and benefits. The lack of available average spreads makes it harder to assess trading costs. LegacyFX is rated 3.5 stars and ranked #57.
In summary, Eightcap tends to offer more competitive pricing for its accounts when compared to the industry average. LegacyFX, although offering a broader range of account options, has less transparency in trading costs due to the absence of average spreads. This results in Eightcap holding a slightly better position in the rankings for commissions and fees, suggesting that it might be a more cost-efficient choice for traders focused on minimizing costs.
| Feature |
Eightcap
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $500 |
| Average Spread EUR/USD - Standard | 1.0 | N/A |
| All-in Cost EUR/USD - Active | 0.76 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | 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 Eightcap and LegacyFX for their range of investments, both brokers offer forex trading through CFDs or spot contracts, ensuring flexibility for forex enthusiasts. Eightcap provides a larger selection with 800 tradeable symbols, including 56 forex pairs, compared to LegacyFX’s 425 symbols and 44 forex pairs. While neither broker allows trading of exchange-traded securities on U.S. or international exchanges, both cater to digital currency traders by offering cryptocurrency derivatives instead of the actual asset.
For those interested in social trading, both platforms provide copy trading options, allowing users to replicate successful investment strategies from experienced traders. Despite having comparable offerings, Eightcap and LegacyFX are each rated 3.5 stars for their range of investments. However, when it comes to their standings among 63 brokers on ForexBrokers.com, Eightcap takes a slightly higher position at #40, with LegacyFX trailing at #48. This ranking highlights Eightcap's slight edge in investment variety despite the equal star ratings.
| Feature |
Eightcap
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 800 | 425 |
| Forex Pairs (Total) | 56 | 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.
Eightcap and LegacyFX both cater to traders with various preferences by offering a range of platforms and tools. Both brokers provide a free virtual demo account for users to practice trading. While neither offers a proprietary platform, they do provide downloads for Windows-based desktop platforms and accessible web-based platforms. Eightcap supports MetaTrader 4 (MT4) alongside MetaTrader 5 (MT5), giving it an edge over LegacyFX, which only offers MT5. Both brokers provide copy trading options, allowing traders to replicate the strategies of successful investors, though neither supports third-party services DupliTrade or ZuluTrade for enhanced social trading features.
When it comes to trading directly from a stock chart, both Eightcap and LegacyFX offer this capability, enriching the trading experience with convenience and efficiency. Each platform provides 15 drawing tools for charting, aiding in technical analysis. For watch list customization, both brokers offer up to seven columns. Despite these similarities, Eightcap stands out in terms of ratings, achieving four stars for its trading platforms and tools, compared to LegacyFX’s 3.5-star rating. Consequently, Eightcap ranks #38 among 63 brokers according to ForexBrokers.com, a significantly higher position than LegacyFX, which is ranked at #60.
| Feature |
Eightcap
|
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 | 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.
Both Eightcap and LegacyFX offer mobile trading apps compatible with iPhone and Android devices, allowing users to manage their trading on the go. For those who like to keep an eye on market fluctuations, both apps provide stock and forex price alerts. Charting is robust in each app, offering 30 technical studies and the ability to draw trendlines, while also providing multiple time frame views, such as daily, weekly, or intraday. Watchlist creation with real-time quotes is available in both applications. However, Eightcap edges out LegacyFX by offering watchlist symbol syncing between the mobile app and the client's online account—a feature absent in LegacyFX.
In terms of user ratings and rankings, Eightcap has a slight advantage. It is rated 4 stars out of 5 for its mobile trading app, compared to LegacyFX's 3.5 stars. Moreover, according to ForexBrokers.com, Eightcap ranks 38th out of 63 brokers for mobile trading apps, while LegacyFX comes in at 61st. While both platforms present a suite of mobile features appealing to traders, Eightcap's extra offerings and slightly higher user ratings make it a favored choice for those needing seamless integration and enhanced functionality in their mobile trading experience.
| Feature |
Eightcap
|
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.
Both Eightcap and LegacyFX offer daily market commentary, which can be beneficial for traders seeking regular insights. However, when it comes to sourcing forex news from top-tier providers like Bloomberg or Reuters, LegacyFX has the upper hand, offering this service while Eightcap does not. LegacyFX also provides tools from Autochartist for technical and fundamental research, giving it an additional edge over Eightcap, which lacks these offerings. On the flip side, Eightcap stands out by providing a sentiment-based trading tool to gauge long or short positions across various instruments, a feature LegacyFX does not have.
While neither broker provides research tools from Trading Central or Acuity Trading, both offer economic calendars to keep traders informed about global news events. Despite these differences in their research tools and offerings, both Eightcap and LegacyFX share identical research ratings of 3.5 stars. In terms of rankings, Eightcap is placed slightly higher than LegacyFX for research by ForexBrokers.com, securing the 39th spot compared to LegacyFX's 46th position out of 63 brokers.
| Feature |
Eightcap
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | 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 comparing the educational resources for beginners between online brokers Eightcap and LegacyFX, there are a few aspects to highlight. Both Eightcap and LegacyFX provide a minimum of 10 educational pieces focusing on forex and CFDs, in the form of articles, videos, and archived webinars. This makes them both resourceful places for learning the basics. While neither broker significantly edges the other in this area, one notable difference is that LegacyFX offers live educational webinars monthly, which Eightcap does not. However, both brokers provide a searchable archive of previously recorded webinars, giving users access to a wealth of past content. Additionally, each offers comprehensive introductory video content tailored for beginners.
For those interested in advancing their trading knowledge, LegacyFX provides a wider selection of advanced educational videos, while Eightcap falls short in this department. Both brokers offer dictionaries with definitions of over 50 investing terms, supporting their commitment to investor education. Despite these offerings, both brokers share the same rating of 3.5 stars for education. However, LegacyFX has a slight advantage in the rankings by ForexBrokers.com, coming in at #35 compared to Eightcap's #40 out of 63 brokers evaluated. This overall analysis suggests that while both brokers are well-equipped for beginners, LegacyFX may offer a little more for those looking to continue expanding their skills.
| Feature |
Eightcap
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | 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 Eightcap is better than LegacyFX. Eightcap finished with an overall rank of #38, while LegacyFX finished with an overall rank of #63.
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins, including TradingView.
| Feature |
Eightcap
|
LegacyFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 85 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Eightcap and LegacyFX do not offer the option to purchase actual delivered cryptocurrency, but they both provide the ability to trade cryptocurrency derivatives.
When comparing online brokers Eightcap and LegacyFX, both offer Visa, Mastercard, Skrill, and bank wire options for depositing and withdrawing funds, but Eightcap uniquely provides PayPal, whereas neither broker supports ACH or SEPA transfers.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Eightcap | LegacyFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 85 | 67 | |
| Winner | check_circle | ||
| Review | Eightcap Review | LegacyFX Review |
| Broker Screenshots | Eightcap | LegacyFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | Eightcap | LegacyFX | |
|---|---|---|---|
| Trust Score | 85 | 67 | |
| Year Founded | 2009 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | 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). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Eightcap | 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 | Eightcap | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 800 | 425 | |
| Forex Pairs (Total) | 56 | 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 | Eightcap | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | N/A | |
| All-in Cost EUR/USD - Active | 0.76 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | 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 | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Eightcap | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | 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 | Eightcap | 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 | Eightcap | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Eightcap | 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 | Eightcap Review | LegacyFX Review |
| Overall | Eightcap | LegacyFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 85 | 67 | |
| Winner | check_circle | ||
| Review | Eightcap Review | LegacyFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill