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 account | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets delivers a much wider range of markets than LegacyFX, with about 10,000 tradeable symbols versus LegacyFX’s 425. Forex traders also get more choice at FP Markets, which lists 71 currency pairs compared to 44 at LegacyFX. Both brokers let you trade forex as CFDs or spot (depending on account options), and both support cryptocurrency CFDs while not offering the ability to buy actual crypto.
Neither broker provides access to exchange-traded stocks on U.S. or international exchanges, but both support copy trading. For overall range of investments, FP Markets is rated 4.5 stars and ranks 19th out of 63 brokers, while LegacyFX is rated 3.5 stars and ranks 49th. In short, FP Markets suits traders who want the widest selection of instruments, while LegacyFX covers the essentials with a smaller lineup.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 425 |
| Forex Pairs (Total) | 71 | 44 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 make it easy to get started with a free demo account for paper trading, and each offers web and Windows desktop platforms, copy trading, and the ability to place trades directly from charts. A key difference is that FP Markets also provides its own proprietary platform, while LegacyFX does not.
If you prefer MetaTrader, FP Markets supports both MT4 and MT5, whereas LegacyFX offers MT5 only. In independent reviews of trading platforms and tools, FP Markets scores 4 stars and ranks #23 out of 63 brokers, while LegacyFX earns 3.5 stars and ranks #61 out of 63. Traders who want MT4 access or an in-house platform may lean toward FP Markets; those satisfied with MT5 and core features may find LegacyFX suitable.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and LegacyFX both offer mobile trading apps for iPhone and Android, with price alerts for stocks and forex, the ability to draw trendlines on charts, and auto-saving of drawings. Neither app syncs watchlists across mobile and web. For charting tools, FP Markets uses the standard MetaTrader toolkit (MT4/MT5) with its familiar set of technical indicators, while LegacyFX lists 30 technical studies in its app.
According to ForexBrokers.com, FP Markets earns 4 stars for its mobile trading app and ranks #18 out of 63 brokers, while LegacyFX scores 3.5 stars and ranks #62. If you prefer a MetaTrader-based experience with a stronger third-party rating, FP Markets has the edge; if you want a fixed set of 30 indicators with similar drawing tools and alerts, LegacyFX may suit your needs.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
If you’re new to forex and CFDs, both FP Markets and LegacyFX make learning straightforward. Each runs ongoing client webinars at least once a month and provides large video libraries, including 10+ beginner videos and 10+ advanced lessons, so you can start with the basics and move into more detailed strategies at your own pace.
When it comes to overall education quality, FP Markets has a slight edge. ForexBrokers.com rates FP Markets 4 stars for Education and ranks it 23rd out of 63 brokers, while LegacyFX earns 3.5 stars and ranks 35th. Beginners who want a stronger, more highly rated learning track may favor FP Markets, though LegacyFX still offers a solid mix of regular webinars and plenty of beginner-friendly videos.
| Feature |
FP Markets
|
LegacyFX
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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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FP Markets vs LegacyFX: neither broker lets you buy actual delivered cryptocurrencies, but both offer cryptocurrency trading via CFDs.
Comparing online brokers FP Markets vs LegacyFX for deposit and withdrawal methods: FP Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA, while LegacyFX also does not support ACH/SEPA and its options for PayPal, Skrill, bank wires, and Visa/Mastercard were not specified.
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, FSRA, or SCA 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. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $500 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | FP Markets | LegacyFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | FP Markets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | LegacyFX | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FP Markets | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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