Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM and LegacyFX are two online brokers with distinct regulatory profiles. Founded in 1999, FXCM is publicly traded, with a high Trust Score of 95 out of 99 from ForexBrokers.com, reflecting a high level of trust. FXCM is not a bank but stands out with four Tier-1 licenses and two Tier-2 licenses, suggesting it is well-regulated and considered highly trustworthy. In terms of regulatory standing, this positions FXCM as a reliable choice for traders seeking a broker with strong compliance credentials.
On the other hand, LegacyFX, established in 2012, is not publicly traded and holds a ForexBrokers.com Trust Score of 67, placing it in the high-risk category. Like FXCM, LegacyFX is not a bank, but it holds only one Tier-1 license and lacks Tier-2 licenses. This limited regulatory oversight might be a concern for traders who prioritize safety and compliance. While LegacyFX is a younger company, its regulatory footprint is smaller, which can imply a different risk profile compared to more established brokers like FXCM.
| Feature |
FXCM
|
LegacyFX
|
|---|---|---|
| Year Founded | 1999 | 2012 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM’s commissions and fees are slightly higher than the industry average, but its commission-based setup can narrow costs if you trade decent volume. In May 2024, average EUR/USD spreads were about 0.78 pips for its EU, U.K., and Australia offerings, and 1.38 pips with its St. Vincent and the Grenadines entity. On commission-based accounts, core spreads averaged 0.28 pips, with an effective cost closer to 0.74 pips after adding the commission (about 0.50 pips round turn). FXCM also runs an Active Trader Rebate Program (five tiers, typically $5–$25 per million traded, where available). As an example, a U.K. account with $25,000 and at least $50 million in monthly volume can see commissions drop to $2.50 per side ($5 round turn), with all-in EUR/USD costs around 0.78 pips (based on January 2024 core pricing). Note that spreads can widen during rollovers or volatile markets. FXCM commissions and fees rating: 4.0/5 stars; category ranking: #25 of 63.
LegacyFX’s commissions and fees are harder to pin down because it does not publish average spreads, making cost comparisons less precise. Pricing varies by regulator and account tier. In the EU (CySEC), the Silver, Gold, and Platinum accounts require $500, $5,000, and $25,000 minimum deposits, respectively, with the Silver account showing the highest costs (EUR/USD minimum spread from 1.6 pips). Internationally (Vanuatu), seven tiers run from Standard ($500) up to VIP ($50,000), with more tools and support at higher levels. Absent average-spread data and with high minimum spreads on entry tiers, LegacyFX’s trading costs can be steeper unless you qualify for higher-tier accounts. LegacyFX commissions and fees rating: 3.5/5 stars; category ranking: #58 of 63.
Bottom line: FXCM generally offers clearer, more competitive all-in costs—especially on its commission-based model and with rebates—while LegacyFX lacks transparent average-spread data and posts higher minimum spreads on lower-tier accounts. If low spreads and volume-based discounts matter most, FXCM is usually the stronger pick; if you prioritize tiered service and are prepared for higher deposits, LegacyFX may appeal, but expect higher trading costs unless you access its top tiers.
| Feature |
FXCM
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $500 |
| Average spread (EUR/USD) - Standard account | 0.9 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM vs. LegacyFX: both brokers let you trade forex either as CFDs or spot contracts, and both support copy trading. FXCM offers a slightly wider lineup with 440 total instruments and 46 currency pairs, while LegacyFX lists 425 instruments and 44 pairs. Neither broker provides direct access to exchange-traded stocks on U.S. or international exchanges—so you can’t buy shares like Apple or Vodafone through them as actual stocks.
For crypto, neither broker offers real (delivered) coins, but both let you trade crypto via CFDs. In ForexBrokers.com’s Range of Investments ratings, FXCM and LegacyFX each earn 3.5 out of 5 stars. FXCM ranks 48th out of 63 brokers in this category, with LegacyFX close behind at 49th, underscoring how similar their product ranges are, with FXCM holding a small edge in the number of markets you can trade.
| Feature |
FXCM
|
LegacyFX
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|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 425 |
| Forex Pairs (Total) | 46 | 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.
FXCM and LegacyFX both include free demo accounts for paper trading and offer web and Windows desktop platforms, plus copy trading. FXCM also provides its own proprietary platform, while LegacyFX does not. In independent ratings for trading platforms and tools, FXCM scores 5 stars and ranks #6 out of 63 brokers with ForexBrokers.com, whereas LegacyFX earns 3.5 stars and ranks #61.
Platform choices differ: FXCM supports MetaTrader 4 (MT4) but not MT5, making it a fit for MT4 users and those who want an in-house platform option. LegacyFX supports MetaTrader 5 (MT5) but not MT4. Both brokers let you trade directly from charts. Specific counts for technical indicators and watchlist columns were not provided. In short, pick FXCM if you want MT4 and a proprietary platform; choose LegacyFX if you prefer MT5.
| Feature |
FXCM
|
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) | No | Yes |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and LegacyFX both offer mobile trading apps for iPhone and Android, and each supports stock or forex price alerts. Charting basics are covered on both apps, including the ability to draw trendlines and have your drawings auto-saved. A key difference is watchlist syncing: FXCM syncs your watchlists between the mobile app and your online account, while LegacyFX does not, which can matter if you switch devices or trade on desktop and phone.
FXCM offers deeper charting with 59 technical studies compared to LegacyFX’s 30. That extra toolkit is reflected in third-party assessments: FXCM’s mobile apps are rated 4.5 out of 5 stars and ranked #16 out of 63 brokers by ForexBrokers.com, while LegacyFX is rated 3.5 stars and ranked #62. If you want more studies and synced watchlists, FXCM is the stronger fit; if you just need core mobile trading with alerts, LegacyFX can still do the job.
| Feature |
FXCM
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing FXCM vs LegacyFX for market research: both brokers publish daily market commentary and stream forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones. Each offers an economic calendar. FXCM stands out with Trading Central analytics, a sentiment tool that shows long-versus-short positioning, and access to TipRanks research; it does not include tools from Acuity Trading. LegacyFX counters with Autochartist for chart pattern scanning, but does not provide Trading Central or a sentiment tool. TipRanks and Acuity Trading availability at LegacyFX is not specified in the information provided.
Overall, FXCM earns 4.5/5 stars for Research and ranks #11 out of 63 brokers on ForexBrokers.com, while LegacyFX scores 3.5/5 stars and ranks #47. If you want Trading Central, sentiment data, and TipRanks, FXCM is the stronger choice; if Autochartist is your priority, LegacyFX may fit your needs—both still cover daily news and key market events.
| Feature |
FXCM
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | Yes | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing FXCM vs LegacyFX education for beginners: both brokers offer a clear path to learning forex and CFDs. Each provides at least 10 educational pieces across formats like articles, videos, and archived webinars. New traders can join ongoing client webinars (at least monthly) and watch 10 or more beginner-focused videos that cover basic strategies, risk management, platform use, and market terms. As your skills grow, both also supply at least 10 advanced videos so you can keep learning without leaving their sites.
Where they differ is in third‑party scores. FXCM’s education earns 4.5 out of 5 stars and ranks 14th out of 63 brokers on ForexBrokers.com, while LegacyFX holds 3.5 stars and ranks 35th. If you want a higher-rated, more polished learning experience from day one, FXCM is the stronger choice; if you simply need solid beginner materials with regular webinars, LegacyFX can get you started.
| Feature |
FXCM
|
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 FXCM is better than LegacyFX. FXCM finished with an overall rank of #15, while LegacyFX finished with an overall rank of #63.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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LegacyFX
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|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 67 |
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FXCM vs LegacyFX: neither online broker offers actual delivered cryptocurrency purchases, but both allow trading cryptocurrency CFDs (contracts for difference).
FXCM supports deposits and withdrawals via ACH/SEPA transfers, PayPal, Skrill, and bank wires, whereas LegacyFX does not support ACH/SEPA and its availability of PayPal, Skrill, Visa/Mastercard, and bank wires 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 | FXCM | LegacyFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | FXCM Review | LegacyFX Review |
| Broker Screenshots | FXCM | LegacyFX | |
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| Regulation | FXCM | LegacyFX | |
|---|---|---|---|
| Trust Score | 95 | 67 | |
| Year Founded | 1999 | 2012 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | FXCM | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 425 | |
| Forex Pairs (Total) | 46 | 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 | FXCM | LegacyFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FXCM | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No |
| Trading Tools | FXCM | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXCM | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | LegacyFX | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FXCM | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FXCM Review | LegacyFX Review |
| Overall | FXCM | LegacyFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | FXCM Review | LegacyFX Review |
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