Written by ForexBrokers.com
In this head to head comparison of eToro 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, eToro and LegacyFX present distinct profiles, especially concerning their regulatory standing. Founded in 2007, eToro is a publicly traded company and holds three Tier-1 licenses, indicative of high trust, along with one Tier-2 license. This strong regulatory framework earns eToro a high Trust Score of 96 from ForexBrokers.com, reflecting its position as a highly trusted broker. Although not a bank, eToro's commitment to security and compliance is evident in its extensive licensing.
On the other hand, LegacyFX, established in 2012, remains privately held and holds just one Tier-1 license, with no Tier-2 licenses to bolster its regulatory oversight. This results in a Trust Score of 67 from ForexBrokers.com, marking it as a high-risk broker. While both eToro and LegacyFX are not banks, eToro's presence as a publicly traded entity with multiple licenses provides a stronger trust signal for potential investors. In contrast, LegacyFX may appeal to those more focused on niche trading opportunities rather than reliance on widespread regulatory assurance.
| Feature |
eToro
|
LegacyFX
|
|---|---|---|
| Year Founded | 2007 | 2012 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
eToro’s commissions and fees lean on simplicity: as a market-maker, it lists a typical variable spread of 1 pip on EUR/USD, which is a bit higher than the industry average. Many clients choose eToro for its social copy trading rather than ultra-tight spreads. The eToro Club (Silver to Diamond) rewards balances from $5,000 to $250,000 with perks like Trading Central access, discounted deposits/withdrawals, and a dedicated account manager. For Commissions and Fees, eToro is rated 4.5/5 stars and ranked #23 out of 63 brokers by ForexBrokers.com.
LegacyFX’s pricing depends on which entity you use. In the EU (CySEC), there are Silver, Gold, and Platinum accounts with minimum deposits of $500, $5,000, and $25,000; spreads are lowest on Platinum and highest on Silver, where the EUR/USD minimum spread can be as high as 1.6 pips. Internationally (Vanuatu), there are seven account tiers with minimums from $500 to $50,000, and added tools and support at higher levels. A key drawback is that LegacyFX does not publish average spreads, making real trading costs harder to judge. LegacyFX is rated 3.5/5 stars and ranked #58 out of 63 for Commissions and Fees.
Bottom line: eToro discloses a typical 1-pip EUR/USD spread and offers VIP-style discounts via its Club, while LegacyFX provides many account tiers but lacks average spread data and can be pricier on entry-level accounts. If clear, publishable pricing matters most, eToro has the edge; if you prioritize tiered services and are comfortable with variable, less transparent costs, LegacyFX may appeal.
| Feature |
eToro
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $500 |
| Average Spread EUR/USD - Standard | 1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | 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.
eToro vs LegacyFX: for range of investments, eToro lists 5,461 tradeable symbols compared with 425 at LegacyFX, and offers 55 forex pairs versus LegacyFX’s 44. Both support forex trading via CFDs or spot contracts. eToro also provides exchange-traded securities (non-CFD) on U.S. and international exchanges, so you can buy actual shares like Apple or Vodafone; LegacyFX does not offer real-share dealing.
Both brokers feature copy trading. For crypto, eToro lets you buy actual coins in addition to crypto derivatives, whereas LegacyFX limits you to derivatives only. Reflecting this breadth, eToro earns 5/5 stars for Range of Investments and ranks 11th out of 63 brokers at ForexBrokers.com; LegacyFX scores 3.5/5 stars and ranks 49th.
| Feature |
eToro
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 425 |
| Forex Pairs (Total) | 55 | 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) | Yes | 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.
Comparing trading platforms and tools, eToro and LegacyFX both provide free demo accounts, web-based platforms, and copy trading. eToro uses its own in-house platform and skips Windows desktop software as well as MT4 and MT5. LegacyFX doesn’t have a proprietary platform, but it does offer a Windows desktop platform and supports MetaTrader 5 (not MT4). Neither broker connects to DupliTrade or ZuluTrade.
For charting, both brokers include technical indicators (neither lists an exact count). eToro shines with a large set of drawing tools (161), while LegacyFX offers fewer (15) but lets you place trades directly from charts. Watchlists are flexible on both: eToro has 6 fields, LegacyFX has 7. Based on ForexBrokers.com’s Trading Platforms and Tools scores, eToro earns 4.5 stars and ranks #8 out of 63 brokers, while LegacyFX earns 3.5 stars and ranks #61.
| Feature |
eToro
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
eToro and LegacyFX both offer mobile trading apps for iPhone and Android, with price alerts and real-time watchlists included. A key difference is syncing: eToro syncs watchlists across mobile and web, while LegacyFX does not. According to ForexBrokers.com, eToro earns 4.5 stars and ranks #10 out of 63 brokers for Mobile Trading Apps, whereas LegacyFX earns 3.5 stars and ranks #62.
For charting, eToro supplies 104 technical indicators compared with 30 on LegacyFX. Both apps let you switch among multiple time frames, but LegacyFX supports drawing trendlines and automatically saves chart drawings—features eToro lacks. Choose eToro if you want a higher-rated app with extensive indicators and synced watchlists. Pick LegacyFX if drawing and saving chart annotations are priorities for your workflow.
| Feature |
eToro
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing eToro vs LegacyFX for market research: both brokers provide daily market commentary and an economic calendar. eToro adds Trading Central analytics, a sentiment tool showing long vs. short positioning, and stock research from TipRanks. LegacyFX counters with premium forex news from top-tier sources (such as Bloomberg/Reuters/Dow Jones) and Autochartist scanning tools. eToro does not include top-tier news or Autochartist, and it also lacks Acuity Trading tools; LegacyFX’s use of TipRanks or Acuity Trading isn’t specified.
For overall quality, eToro is rated 4.5/5 stars for Research and ranks #13 out of 63 brokers, while LegacyFX is rated 3.5/5 stars and ranks #47. Pick eToro if you want Trading Central, sentiment data, and TipRanks research; choose LegacyFX if premium news feeds and Autochartist are more important to your trading.
| Feature |
eToro
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both eToro and LegacyFX provide a variety of options to help new traders learn the ropes of forex and CFDs. Each offers more than ten educational pieces, including articles, videos, and webinars focused on trading. Both brokers host at least one educational webinar per month and maintain searchable archives of these sessions, offering flexibility for those who wish to learn at their own pace. With a strong selection of beginner videos and advanced trading content, newcomers and experienced traders alike have access to valuable insights. Both eToro and LegacyFX also offer an investor dictionary featuring over 50 investing terms, ensuring that users can easily find definitions when needed.
Despite the similarities, eToro stands out with a higher educational rating of 4.5 stars compared to LegacyFX’s 3.5 stars. ForexBrokers.com ranks eToro fifth out of 63 brokers for educational excellence, while LegacyFX holds the 35th position. This difference may reflect the quality or user experience associated with each platform's educational content. Overall, both eToro and LegacyFX are commendable for their educational offerings, but eToro leads slightly in providing a more rated educational experience. Whether you're a beginner looking to understand the basics or a seasoned trader seeking advanced strategies, these brokers have resources to fit your needs.
| Feature |
eToro
|
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 eToro is better than LegacyFX. eToro finished with an overall rank of #9, while LegacyFX finished with an overall rank of #63.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 67 |
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When comparing eToro and LegacyFX in terms of cryptocurrency offerings, eToro allows for the purchase of both actual delivered cryptocurrency and cryptocurrency derivatives, whereas LegacyFX provides the option only to buy cryptocurrency derivatives.
Comparing eToro to LegacyFX, eToro offers a wider range of deposit and withdrawal options including ACH, SEPA transfers, and PayPal, which are not available with LegacyFX, while both platforms support options like Skrill, Visa, Mastercard, and bank wires.
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 | eToro | LegacyFX | |
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| Trust Score | 96 | 67 | |
| Winner | check_circle | ||
| Review | eToro Review | LegacyFX Review |
| Broker Screenshots | eToro | LegacyFX | |
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| Regulation | eToro | LegacyFX | |
|---|---|---|---|
| Trust Score | 96 | 67 | |
| Year Founded | 2007 | 2012 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | 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) | |||
| 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) | eToro | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| 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) |
| Investments | eToro | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 425 | |
| Forex Pairs (Total) | 55 | 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) | Yes | 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 | eToro | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $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 | Yes | No |
| Trading Platforms | eToro | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | eToro | 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 | eToro | 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 | eToro Review | LegacyFX Review |
| Overall | eToro | LegacyFX | |
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| Trust Score | 96 | 67 | |
| Winner | check_circle | ||
| Review | eToro Review | LegacyFX Review |
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