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 Both brokers do not publish average spread data, which makes it harder to pinpoint true trading costs from public information.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 account | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | ||
| Bank Wire (Deposit/Withdraw) |
Dive deeper: Best Low Spread Forex Brokers.
FXOpen and LegacyFX both let you trade forex via CFDs or spot. LegacyFX offers a wider lineup: 425 total tradeable symbols and 44 currency pairs, compared with FXOpen’s 87 symbols and 25 pairs. Neither broker lets you buy exchange-traded shares directly on U.S. or international exchanges (no Apple or Vodafone share dealing).
Both brokers support copy trading and offer cryptocurrency through CFDs, but neither allows you to buy actual crypto. For range of investments, ForexBrokers.com rates FXOpen at 3 stars (ranked 63rd out of 63) and LegacyFX at 3.5 stars (ranked 49th out of 63). If you want more markets to choose from, LegacyFX has the edge, while FXOpen may suit traders focused on a smaller menu.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 87 | 425 |
| Forex Pairs (Total) | 25 | 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). |
Dive deeper: Best Copy Trading Platforms.
Comparing FXOpen vs LegacyFX on trading platforms and tools, both brokers offer a free demo (paper) account, web-based platforms, and Windows desktop downloads. Neither provides a proprietary platform, and both support copy trading. Platform choice is the key difference: FXOpen offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX supports MT5 only. Each broker also lets you place trades directly from charts for quicker order entry.
According to ForexBrokers.com, FXOpen is rated 4 stars for Trading Platforms and Tools and ranks 54th out of 63 brokers, while LegacyFX is rated 3.5 stars and ranks 61st. If you need MT4 alongside MT5, FXOpen fits the bill; if MT5 is all you need, LegacyFX covers the basics with demo access, web and desktop platforms, and copy trading.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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.
FXOpen vs LegacyFX for mobile trading: both brokers offer iPhone and Android apps and support stock and forex price alerts. Their charting tools are similar too, with 30 technical indicators apiece and the ability to draw trendlines. One shared drawback is that watchlist syncing isn’t available, so changes you make on the mobile app won’t sync with your online account.
The key difference is chart annotations: LegacyFX’s app auto-saves your drawings, while FXOpen’s does not. In overall quality, FXOpen earns a higher Mobile Trading Apps rating (4 stars) and a better category ranking from ForexBrokers.com (#55 out of 63) compared to LegacyFX (3.5 stars, #62 out of 63). If saved chart markups matter to you, LegacyFX has an edge; if you want a better-rated mobile experience overall, FXOpen comes out ahead.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | No | No |
| Client sentiment data | No | No |
| TipRanks | ||
| Acuity Trading | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXOpen vs LegacyFX for beginner education: LegacyFX stands out for learners who want plenty of videos and live lessons. It offers at least 10 beginner videos, at least 10 advanced videos, and hosts client webinars each month. FXOpen, by contrast, does not run monthly educational webinars and doesn’t meet the 10-video mark for either beginner or advanced topics. If you prefer a video-first path with live sessions, LegacyFX provides a fuller schedule, while FXOpen may suit those who are comfortable learning without many videos or webinars.
Independent ratings back this up: ForexBrokers.com rates LegacyFX 3.5 out of 5 stars for Education and ranks it #35 of 63 brokers, while FXOpen holds 3 stars and ranks #59. For forex and CFD education aimed at beginners, LegacyFX delivers more structured content, whereas FXOpen offers a lighter set of materials.
| Feature |
FXOpen
|
LegacyFX
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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
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LegacyFX
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|---|---|---|
| Overall Rating |
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| Trust Score | 76 | 67 |
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In the FXOpen vs LegacyFX comparison for cryptocurrency trading, neither broker allows buying actual (delivered) cryptocurrencies, but both offer the ability to trade cryptocurrency CFDs.
In comparing FXOpen vs LegacyFX for funding options, neither broker supports ACH or SEPA transfers for deposits or withdrawals, and the availability of PayPal, Skrill, Visa/Mastercard, and bank wire methods is 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 | 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, FSRA, or SCA 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. 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). |
| Cost | FXOpen | LegacyFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FXOpen | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $500 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | |||
| Bank Wire (Deposit/Withdraw) | |||
| Non-wire bank transfer | No | No |
| Trading Platforms | FXOpen | LegacyFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 | No | No |
| Trading Tools | FXOpen | 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 | FXOpen | 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXOpen | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | No | No | |
| TipRanks | |||
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FXOpen | LegacyFX | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes |
| Major Forex Pairs | FXOpen | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | LegacyFX Review |
| Overall | FXOpen | LegacyFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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