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FP Markets vs LegacyFX 2022

Is FP Markets better than LegacyFX? In our analysis of 23 international regulators across 39 brokers, FP Markets is considered average-risk, with an overall Trust Score of 82 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 Rating expand_moreexpand_less FP Markets LegacyFX
Overall Rating starstarstarstarstar starstarstarstarstar
Commissions & Fees starstarstarstarstar starstarstarstarstar
Offering of Investments starstarstarstarstar starstarstarstarstar
Platform & Tools starstarstarstarstar starstarstarstarstar
Mobile Trading starstarstarstarstar starstarstarstarstar
Research starstarstarstarstar starstarstarstarstar
Education starstarstarstarstar starstarstarstarstar
Trust Score 82 75
Regulation expand_moreexpand_less FP Markets LegacyFX
Trust Score 82 75
Year Founded 2005 2012
Publicly Traded (Listed) No No
Bank No No
Tier-1 Licenses 1 1
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Authorised in European Union Yes Yes
Tier-1 Licenses (High Trust) expand_moreexpand_less FP Markets LegacyFX
ASIC Authorised (Australia) Yes 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) No No
FCA Authorised (U.K.) No Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust) expand_moreexpand_less FP Markets LegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
NSE 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) expand_moreexpand_less FP Markets LegacyFX
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
Investments expand_moreexpand_less FP Markets LegacyFX
Forex Trading Yes Yes
Trading - Forex or CFDs Yes Yes
Tradeable Symbols (Total) 9790 425
Forex Pairs (Total) 63 41
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 (CFD) Yes Yes
Cost expand_moreexpand_less FP Markets LegacyFX
Average Spread EUR/USD - Standard 1.2 (September 2021) 0
All-in Cost EUR/USD - Active 0.7 (September 2021) 0
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes No
Funding expand_moreexpand_less FP Markets LegacyFX
Minimum Initial Deposit $100 AUD $500
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) Yes Yes
Trading Platforms expand_moreexpand_less 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 No No
DupliTrade No No
ZuluTrade No No
Trading Tools expand_moreexpand_less 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) 15 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile Trading expand_moreexpand_less 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
Forex Calendar Yes No
Research expand_moreexpand_less FP Markets LegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes No
Autochartist Yes Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
Education expand_moreexpand_less FP Markets LegacyFX
Has 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 expand_moreexpand_less 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
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FP Markets vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FP Markets vs LegacyFX.

Does FP Markets 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, FP Markets offers better pricing overall for traders.

Is FP Markets 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 FP Markets and LegacyFX hold [Variable A] global Tier-1 licenses. Both FP Markets and LegacyFX hold [Variable A] global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, FP Markets earned a higher Trust Score than LegacyFX.

Which trading platform is better: FP Markets or LegacyFX?

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

How many forex pairs and CFDs are available to trade?

FP Markets provides traders 63 currency pairs (e.g., EUR/USD) compared to LegacyFX's 41 available pairs. Forex pairs aside, FP Markets offers traders access to 9790 CFDs while LegacyFX has 425 available CFDs, a difference of 9365.

Can I trust FP Markets?

FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FP Markets is authorised by the following tier-1 regulator: Australian Securities & Exchange Commission (ASIC).

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 FP Markets good?

FP Markets shines as a low-cost broker for trading forex and CFDs โ€“ as long as you use the MetaTrader platform. The Iress platform suite offers well over 8,000 tradeable symbols, but itโ€™s mostly a share trading platform โ€“ and is generally a much pricier option.

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: FP Markets

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