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FlowBank vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is FlowBank better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, FlowBank is considered average-risk, with an overall Trust Score of 77 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 RatingFlowBankLegacyFX
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score 77 75
Winner check_circle
Review FlowBank Review LegacyFX Review
RegulationFlowBankLegacyFX
Trust Score 77 75
Year Founded 2020 2012
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union No info Yes info
Tier-1 Licenses 1 1
Tier-2 Licenses 0 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)FlowBankLegacyFX
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) No Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)FlowBankLegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI 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) No No
Tier-3 Licenses (Low Trust)FlowBankLegacyFX
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
InvestmentsFlowBankLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 408600 425
Forex Pairs (Total) 51 41
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 (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).
CostFlowBankLegacyFX
Average Spread EUR/USD - Standard N/A 0
All-in Cost EUR/USD - Active N/A 0
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes No
FundingFlowBankLegacyFX
Minimum Initial Deposit $0.00 $500
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsFlowBankLegacyFX
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 ToolsFlowBankLegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 7 7
Charting - Indicators / Studies (Total) 37 30
Charting - Drawing Tools (Total) 17 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingFlowBankLegacyFX
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 5 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes No
ResearchFlowBankLegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes No
Autochartist No Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationFlowBankLegacyFX
Has 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) No Yes
Major Forex PairsFlowBankLegacyFX
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 FlowBank Review LegacyFX Review
OverallFlowBankLegacyFX
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score 77 75
Winner check_circle
Review FlowBank Review LegacyFX Review
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FlowBank vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare FlowBank vs LegacyFX.

Does FlowBank 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, FlowBank offers better pricing overall for traders.

Is FlowBank 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. Both FlowBank and LegacyFX hold 1 global Tier-1 licenses. LegacyFX holds 1 global Tier-2 licenses, while FlowBank holds 0. In our analysis of 23 international regulators across 50 brokers, FlowBank earned a higher Trust Score than LegacyFX.

Which trading platform is better: FlowBank or LegacyFX?

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

How many forex pairs and CFDs are available to trade?

FlowBank provides traders 51 currency pairs (e.g., EUR/USD) compared to LegacyFX's 41 available pairs. Forex pairs aside, FlowBank offers traders access to 408600 CFDs while LegacyFX has 425 available CFDs, a difference of 408175.

Can I trust FlowBank?

FlowBank operates a regulated Swiss bank, and is authorised by one tier-1 regulator (high trust): the Swiss Financial Market Supervisory Authority (FINMA).

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 FlowBank good?

As a relative newcomer to the Swiss online brokerage scene, FlowBank already has a lot to offer its customers. FlowBank clients benefit from the advantages that come with holding a Swiss bank account, and its brokerage services provide access to more advertised symbols than any online broker that weโ€™ve reviewed thus far.

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: FlowBank

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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