Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets, founded in 2005, is an online brokerage not listed on any stock exchange and is not a bank. With a ForexBrokers.com Trust Score of 89, it is considered a trusted broker. FP Markets holds 2 Tier-1 licenses and 1 Tier-2 license, underscoring its regulatory strength and commitment to high standards in financial trading. This regulatory framework appears to offer a reassuring level of trust for traders concerned about the security and oversight of their broker.
In contrast, LegacyFX, established in 2012, also operates as a privately held brokerage and is not a bank. It has a ForexBrokers.com Trust Score of 67, placing it in the high-risk category compared to FP Markets. LegacyFX holds 1 Tier-1 license but lacks any Tier-2 licenses, which indicates a lesser degree of regulatory coverage. Traders looking for more regulatory assurance might prefer FP Markets, given its higher Trust Score and more extensive licensing.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2005 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
FP Markets outshines LegacyFX on trading costs. FP Markets earns 5 stars and ranks #6 of 63 for Commissions and Fees, while LegacyFX holds 3.5 stars and ranks #58 of 63. In plain terms, FP Markets is generally cheaper and more transparent, with award-winning pricing, whereas LegacyFX provides many account tiers but lacks published average spread data, making true cost comparisons harder.
With FP Markets, the commission-based Raw ECN account is the standout: average spreads were 0.1 pips (about 0.8 pips all-in after commission) and forex commissions are a flat $6 per round-turn per standard lot on MetaTrader and cTrader. The Standard account costs more, with around 1.1 pips on EUR/USD. For share CFDs, FP Markets’ Iress ViewPoint offers DMA and full depth of book but can add platform and data fees unless you’re on the Premier tier or generate at least AUD 150 in monthly commissions; the Iress Investor account waives monthly fees but has limited tools and no default streaming data.
LegacyFX’s pricing depends on the entity and account tier, but the broker does not publish average spreads. In the EU, Silver, Gold, and Platinum accounts require $500, $5,000, and $25,000 minimum deposits, respectively; spreads tighten as you move up, while the Silver account can be as high as 1.6 pips minimum on EUR/USD. Internationally (Vanuatu), there are seven tiers from $500 to $50,000, with higher tiers offering more support and tools. Bottom line: if low, clear spreads and commissions are your priority, FP Markets is the stronger choice; LegacyFX may suit traders seeking tiered service but still lacks the pricing transparency many cost-focused traders expect.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 AUD | $500 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | 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.
Comparing the range of investments at FP Markets and LegacyFX, FP Markets offers far more choice: 10,000 tradeable symbols versus 425 at LegacyFX. FP Markets also lists 71 forex pairs compared with 44 at LegacyFX. Both brokers support forex trading (CFDs/spot), and both include copy trading.
Neither broker lets you buy real, exchange-traded shares on U.S. or international markets, and neither sells actual cryptocurrency, though both provide crypto derivatives. For Range of Investments, FP Markets is rated 4.5/5 stars and ranks 19th out of 63 brokers at ForexBrokers.com, while LegacyFX is rated 3.5/5 stars and ranks 49th. If you want the widest instrument selection, FP Markets has the edge; if you only need core markets plus copy trading and crypto derivatives, both will work.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 425 |
| Forex Pairs (Total) | 71 | 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.
FP Markets and LegacyFX both provide free demo (paper) accounts, copy trading, and access to Windows desktop and web platforms. FP Markets adds a proprietary, in-house platform, while LegacyFX does not. For third-party software, FP Markets supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), whereas LegacyFX offers MT5 but not MT4. Neither broker connects to DupliTrade or ZuluTrade.
Both brokers let you place trades directly from charts and include 7 watchlist columns. FP Markets lists 17 drawing tools versus 15 at LegacyFX; indicator totals were not specified. In independent testing of trading platforms and tools by ForexBrokers.com, FP Markets earned 4 stars and ranked #23 out of 63 brokers, while LegacyFX earned 3.5 stars and ranked #61. In short, FP Markets offers broader platform choice and slightly stronger tools, while LegacyFX covers core needs if you’re comfortable with MT5.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and LegacyFX both deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, drawing trendlines, switching between multiple time frames, auto-saving chart drawings, and creating watchlists with real-time quotes. Neither broker currently syncs watchlist symbols between the mobile app and the online account. For charting, FP Markets’ app runs on MetaTrader, giving you the platform’s standard indicator set, while LegacyFX lists 30 technical studies in its app.
When it comes to ratings and rankings, FP Markets leads the way: it earns 4 out of 5 stars and ranks #18 out of 63 for Mobile Trading Apps on ForexBrokers.com. LegacyFX scores 3.5 out of 5 stars and ranks #62 out of 63. If you prefer the familiar MetaTrader environment, FP Markets is the stronger pick; if you’re satisfied with a defined set of 30 indicators, LegacyFX covers the essentials but trails in overall recognition.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 FP Markets and LegacyFX deliver daily market commentary and offer forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones. Each broker includes Autochartist tools and an economic calendar for tracking global events. Where they differ: FP Markets also provides Trading Central research and a sentiment tool showing long/short positioning across instruments, while LegacyFX does not offer those features. FP Markets does not include TipRanks or Acuity Trading; availability of TipRanks and Acuity Trading for LegacyFX was not specified.
For market research quality, FP Markets is rated 4 out of 5 stars and ranks #25 out of 63 brokers at ForexBrokers.com, while LegacyFX is rated 3.5 stars and ranks #47. If you want added research extras—especially Trading Central analytics and sentiment data—FP Markets has the edge, while LegacyFX covers the essentials with commentary, news, Autochartist, and an economic calendar.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets and LegacyFX both provide excellent educational resources for beginners interested in forex or CFD trading. Both platforms offer a minimum of 10 educational content pieces such as articles, videos, and archived webinars centered around forex or CFDs. Additionally, they both host online webinars for clients each month and maintain a searchable archive of past sessions, making learning convenient and flexible. Whether you're a beginner or an advanced trader, each broker offers at least 10 educational videos tailored to your trading experience level, allowing you to continue advancing along your learning path.
New traders can also benefit from the investor dictionaries provided by both FP Markets and LegacyFX, which contain definitions for over 50 investment terms. However, FP Markets seems to have a slight edge over LegacyFX when rated on their educational offerings, receiving four stars compared to LegacyFX's 3.5 stars. This distinction ranks FP Markets at #23 out of 63 brokers for education on ForexBrokers.com, while LegacyFX is placed at #35, making FP Markets a slightly stronger choice for those who prioritize educational resources.
| Feature |
FP Markets
|
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 FP Markets is better than LegacyFX. FP Markets finished with an overall rank of #19, while LegacyFX finished with an overall rank of #63.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 67 |
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Both FP Markets and LegacyFX do not offer the ability to buy actual cryptocurrency but do allow for the trading of cryptocurrency derivatives.
While both FP Markets and LegacyFX provide options for depositing or withdrawing funds via Skrill, Visa or Mastercard, and bank wires, FP Markets offers additional flexibility with PayPal, which is not available with LegacyFX, whereas neither broker offers 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.
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0 of 5| Overall Rating | FP Markets | LegacyFX | |
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| Trust Score | 89 | 67 | |
| Winner | check_circle | ||
| Review | FP Markets Review | LegacyFX Review |
| Broker Screenshots | FP Markets | LegacyFX | |
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| Regulation | FP Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 89 | 67 | |
| Year Founded | 2005 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FP Markets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 425 | |
| Forex Pairs (Total) | 71 | 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 | FP Markets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $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 | FP 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) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | 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) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | LegacyFX | |
|---|---|---|---|
| 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 | MetaTrader (Default) | 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 | FP Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP 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 | FP Markets Review | LegacyFX Review |
| Overall | FP Markets | LegacyFX | |
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| Trust Score | 89 | 67 | |
| Winner | check_circle | ||
| Review | FP Markets Review | LegacyFX Review |
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