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FOREX.com vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is FOREX.com better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, FOREX.com 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 RatingFOREX.comLegacyFX
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 3.5/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 75
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Review FOREX.com Review LegacyFX Review
RegulationFOREX.comLegacyFX
Trust Score 99 75
Year Founded 1999 2012
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 4 1
Tier-2 Licenses 2 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)FOREX.comLegacyFX
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)FOREX.comLegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes 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) Yes No
Tier-3 Licenses (Low Trust)FOREX.comLegacyFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) Yes No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsFOREX.comLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 5500 425
Forex Pairs (Total) 91 41
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading No 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).
CostFOREX.comLegacyFX
Average Spread EUR/USD - Standard 1.0 (July 2022) 0
All-in Cost EUR/USD - Active 1.0 (July 2022) 0
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes No
FundingFOREX.comLegacyFX
Minimum Initial Deposit $100 $500
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsFOREX.comLegacyFX
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading No Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) Yes Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsFOREX.comLegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 20 7
Charting - Indicators / Studies (Total) 203 30
Charting - Drawing Tools (Total) 25 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingFOREX.comLegacyFX
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 88 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes No
ResearchFOREX.comLegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes No
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationFOREX.comLegacyFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) No Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos No Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsFOREX.comLegacyFX
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 FOREX.com Review LegacyFX Review
OverallFOREX.comLegacyFX
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 3.5/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 75
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Review FOREX.com Review LegacyFX Review
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FOREX.com 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 FOREX.com vs LegacyFX.

Does FOREX.com 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, FOREX.com offers better pricing overall for traders.

Is FOREX.com 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. FOREX.com holds 4 global Tier-1 licenses, while LegacyFX holds 1. FOREX.com holds 2 global Tier-2 licenses, while LegacyFX holds 1. In our analysis of 23 international regulators across 50 brokers, FOREX.com earned a higher Trust Score than LegacyFX.

Which trading platform is better: FOREX.com or LegacyFX?

To compare the trading platforms of both FOREX.com and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FOREX.com offers a better experience. With research, FOREX.com offers superior market research. Finally, we found FOREX.com 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.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to LegacyFX's 41 available pairs. Forex pairs aside, FOREX.com offers traders access to 5500 CFDs while LegacyFX has 425 available CFDs, a difference of 5075.

Can I trust FOREX.com?

FOREX.com is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

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 FOREX.com good?

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms โ€“ alongside limited access to MetaTrader.

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: FOREX.com

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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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