Written by ForexBrokers.com
In this head to head comparison of FXOpen 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.
FXOpen and LegacyFX are both online brokers that have been in operation since 2003 and 2012, respectively. Neither of the brokers is publicly traded or operates as a bank. They differ significantly in their regulatory credentials, which may influence your choice based on trust and reliability. FXOpen holds two Tier-1 licenses, while LegacyFX holds one, reflecting a stronger regulatory standing for FXOpen according to ForexBrokers.com. These Tier-1 licenses are considered highly trusted, adding a layer of assurance to their operation.
When it comes to trust ratings, FXOpen scores a 76 out of 99 according to ForexBrokers.com, placing them in the average risk category. In comparison, LegacyFX has a Trust Score of 67, indicating a higher risk. The absence of Tier-2 licenses for both shows they don't have an added trusted layer beyond their Tier-1 holdings. Understanding these regulatory elements can assist in making a more informed decision when choosing between FXOpen and LegacyFX.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Year Founded | 2003 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Here’s how FXOpen and LegacyFX stack up on commissions and fees. Both brokers do not publish average spread data, which makes it harder to pinpoint true trading costs from public information. In ForexBrokers.com’s Commissions & Fees category, FXOpen is rated 4 out of 5 stars and ranks #45 out of 63 brokers, while LegacyFX is rated 3.5 out of 5 stars and ranks #58 out of 63.
FXOpen does not provide average spreads, so you’ll need to judge pricing from live quotes and your own trading. Its higher rating suggests generally competitive pricing within this review set, but transparency is limited without averages. As with any broker, check instrument-specific commissions, overnight financing rates, and any non-trading fees on its website.
LegacyFX’s costs vary by entity and account tier. In the EU (CySEC), there are Silver ($500 minimum), Gold ($5,000), and Platinum ($25,000) accounts; spreads are lowest on Platinum and highest on Silver, where the minimum quoted spread on EUR/USD can be as high as 1.6 pips. Internationally (Vanuatu), there are seven tiers from Standard ($500) up to VIP ($50,000), with more services as you move up. Since LegacyFX also doesn’t publish average spreads, gauging all-in costs is tough, but expect lower spreads on higher-tier accounts and higher costs on entry-level accounts.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $500 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
FXOpen and LegacyFX both let you trade forex as CFDs or spot contracts. LegacyFX offers a broader selection overall, with 425 tradeable symbols and 44 forex pairs compared with FXOpen’s 87 symbols and 25 forex pairs. Neither broker provides access to exchange-traded U.S. or international stocks, so you can’t buy actual shares like Apple or Vodafone through either platform.
Both brokers support copy trading and crypto derivatives, but neither allows purchasing actual (delivered) cryptocurrency. For range of investments, FXOpen earns 3 out of 5 stars and ranks 63rd out of 63 brokers on ForexBrokers.com, while LegacyFX scores 3.5 stars and ranks 49th. In short, LegacyFX offers a larger lineup of markets, though both focus on CFDs and derivatives rather than real shares or delivered crypto.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 87 | 425 |
| Forex Pairs (Total) | 25 | 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). |
Dive deeper: Best Copy Trading Platforms.
FXOpen and LegacyFX both provide free demo (paper) accounts and support Windows desktop and web-based trading platforms. Neither offers a proprietary platform. For MetaTrader, FXOpen supports both MT4 and MT5, while LegacyFX supports MT5 but not MT4. Copy trading is available at both brokers; however, ZuluTrade is offered by FXOpen only, and neither supports DupliTrade. Both let you place trades directly from charts.
For charting, each lists 15 drawing tools, though the number of built-in indicators wasn’t provided. Watch lists include 7 columns at both brokers. According to ForexBrokers.com, FXOpen is rated 4 stars and ranks 54th out of 63 for Trading Platforms and Tools, while LegacyFX is rated 3.5 stars and ranks 61st. Choose FXOpen if you need MT4 or ZuluTrade; pick either for MT5, web and desktop access, copy trading, and straightforward chart trading tools.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXOpen and LegacyFX both deliver mobile trading apps for iPhone and Android. Each app supports price alerts and lets you build watchlists with real-time quotes. Charting is comparable: both the FXOpen mobile app and the LegacyFX mobile app include 30 technical indicators, let you draw trendlines, and allow switching among multiple time frames like intraday, daily, and weekly. One limitation for both brokers is that watchlist symbol syncing isn’t available, so changes on mobile won’t automatically mirror your online account.
The key difference is chart annotation persistence: LegacyFX auto-saves your drawings, while FXOpen does not. In overall quality, FXOpen is rated 4 stars and ranks 55th out of 63 brokers for Mobile Trading Apps on ForexBrokers.com; LegacyFX is rated 3.5 stars and ranks 62nd. If higher ratings matter most, FXOpen has the edge. If keeping your chart marks saved on mobile is a priority, LegacyFX may suit you better.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXOpen vs LegacyFX: both brokers deliver daily market commentary, forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, and an economic calendar to track key events. However, neither integrates Trading Central, and neither offers a sentiment tool that shows long/short positioning.
LegacyFX pulls ahead on market research thanks to Autochartist tools, which FXOpen doesn’t provide. That advantage is reflected in industry assessments: LegacyFX holds a 3.5/5 research rating and ranks 47th with ForexBrokers.com, while FXOpen is rated 3/5 and ranks 64th. Choose LegacyFX if you want more built-in trade ideas and technical screening; pick FXOpen if you mainly need reliable news, commentary, and a calendar.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | ||
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXOpen vs LegacyFX for beginner education: LegacyFX offers a fuller learning path with at least 10 forex/CFD lessons, monthly client webinars, and a searchable archive of past sessions. It also provides 10+ beginner videos and 10+ advanced videos, plus an investor dictionary with 50+ terms. FXOpen, on the other hand, does not meet the 10-piece education threshold, does not host monthly webinars or keep a webinar archive, and lacks 10-video libraries for both beginner and advanced topics, though it does include an investor dictionary with 50+ terms.
For quality and depth, ForexBrokers.com rates LegacyFX 3.5/5 and ranks it #35 of 63 for Education, while FXOpen earns 3/5 and ranks #59 of 63. If you’re a new trader seeking structured learning with videos and webinars, LegacyFX is the stronger pick; if you mainly want a basic glossary, FXOpen may be enough.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 FXOpen is better than LegacyFX. FXOpen finished with an overall rank of #54, while LegacyFX finished with an overall rank of #63.
FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 76 | 67 |
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Both FXOpen and LegacyFX do not offer the ability to purchase actual delivered cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
Both FXOpen and LegacyFX do not support ACH or SEPA transfers, nor do they offer PayPal for account transactions; however, they both provide Skrill, Visa or Mastercard, and bank wire options for depositing or withdrawing funds.
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 | FXOpen | LegacyFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | FXOpen | LegacyFX | |
|---|---|---|---|
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| Regulation | FXOpen | LegacyFX | |
|---|---|---|---|
| Trust Score | 76 | 67 | |
| Year Founded | 2003 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXOpen | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | Yes | 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) | FXOpen | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXOpen | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 87 | 425 | |
| Forex Pairs (Total) | 25 | 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). |
| Cost | FXOpen | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXOpen | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $500 | |
| PayPal (Deposit/Withdraw) | No | 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 | FXOpen | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No |
| Trading Tools | FXOpen | 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 | FXOpen | 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXOpen | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | |||
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FXOpen | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXOpen | 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 | LegacyFX Review |
| Overall | FXOpen | LegacyFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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