Written by ForexBrokers.com
In this head to head comparison of FXGT.com 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.
FXGT.com and LegacyFX are both online brokers that offer trading services to users, but there are differences in their regulatory standing and trust ratings. FXGT.com was established in 2019 and holds both a Tier-1 and a Tier-2 license, indicating a mix of highly trusted and trusted regulatory oversight. Its ForexBrokers.com Trust Score is 69, categorizing it as high risk. Despite not being publicly traded or a bank, FXGT.com maintains a slightly stronger regulatory position than some of its competitors.
On the other hand, LegacyFX was founded in 2012 and holds a Tier-1 license, offering high trust in terms of regulatory compliance, although it lacks Tier-2 licenses. With a ForexBrokers.com Trust Score of 67, LegacyFX also falls into the high-risk category. Like FXGT.com, LegacyFX is neither publicly traded nor operates as a bank. When considering these factors, users should weigh the regulatory credentials and trust scores to determine which broker aligns better with their trading needs.
| Feature |
FXGT.com
|
LegacyFX
|
|---|---|---|
| Year Founded | 2019 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing FXGT.com and LegacyFX for their commissions and fees, both brokers feature average offerings with a variety of account types but lack exact spread details, which can often help determine trading costs. FXGT.com, although not providing spread data, secures a middle-ground rating of 3.5 stars for its fee structure. This places it at rank 56 out of 63 brokers in this category according to ForexBrokers.com, signaling room for improvement when compared to industry standards.
LegacyFX provides different account options based on the entity through which you register. In its EU entity, regulated by CySEC, the available accounts include Silver, Gold, and Platinum, with minimum deposits of $500, $5,000, and $25,000, respectively. The advertised spreads are lower for the Platinum account but can reach as high as 1.6 pips on the EUR/USD pair for the Silver account. For international users on its Vanuatu entity, LegacyFX offers seven account types, ranging from a Standard account starting at $500 to a VIP account requiring a $50,000 deposit. This variety reflects how additional features, like access to trading tools and client support, correspond to the account type selected.
LegacyFX also holds a 3.5-star rating for commissions and fees, similar to FXGT.com, but is ranked slightly lower at 57 out of 63 brokers, indicating a need for better transparency and competitiveness in their fee structure as compared to top performers in the industry.
| Feature |
FXGT.com
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $5 | $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 | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When looking at FXGT.com and LegacyFX for their range of investments, both brokers offer forex trading through CFDs or spot contracts, allowing users to engage in currency exchange markets. FXGT.com provides 117 tradeable symbols with 53 forex pairs, whereas LegacyFX presents a broader selection with 425 symbols and 44 forex pairs. Neither platform offers the purchase of exchange-traded securities on U.S. or international exchanges, meaning you can't directly buy shares like Apple or Vodafone through these brokers. However, both platforms facilitate cryptocurrency trading through derivatives rather than actual coins, and they support copy trading features for users looking to mimic successful trading strategies.
Despite the similarities, there are notable differences in their offerings and ratings. FXGT.com has a three-star rating for its range of investments, whereas LegacyFX edges slightly ahead with a 3.5-star rating. According to ForexBrokers.com, FXGT.com holds the 61st position out of 63 brokers in the Range of Investments category, while LegacyFX ranks more favorably at #48. These ratings provide potential investors with a clearer picture of the breadth and accessibility of investments each platform offers.
| Feature |
FXGT.com
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 117 | 425 |
| Forex Pairs (Total) | 53 | 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). | 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.
When comparing FXGT.com and LegacyFX, both brokers provide access to simulated trading through their free demo accounts, catering to beginners and experienced traders testing new strategies. Neither offers a proprietary platform, but both provide Windows-based desktop downloads and web-based trading platforms. While FXGT.com shines with its inclusion of MetaTrader 4 and MetaTrader 5, LegacyFX confines its offering to just MetaTrader 5. Both brokers support copy trading, though neither supports DupliTrade or ZuluTrade. For traders interested in charting, FXGT.com presents 23 drawing tools compared to LegacyFX's 15, and both offer the capability to trade directly from stock charts.
Despite these similarities, some features set these platforms apart in terms of user customization. FXGT.com offers five columns for watchlists, but LegacyFX provides more with seven. In terms of ratings, FXGT.com slightly edges out with four stars for trading platforms and tools versus LegacyFX's 3.5 stars, according to ForexBrokers.com. In the competitive landscape of 63 brokers, FXGT.com ranks 56th, while LegacyFX places at 60th, highlighting FXGT.com's slight advantage in platform offerings and usability. Such detailed distinctions might influence the choice of platform based on specific trading needs and the desired toolset.
| Feature |
FXGT.com
|
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 | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 23 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by FXGT.com and LegacyFX, both brokers support iPhone and Android devices, providing convenience for traders on the go. They also offer essential features such as stock and forex price alerts and the ability to draw trend lines on charts. Both apps provide multiple time frames for chart analysis and auto-save any drawings made on them. With 30 technical studies available for charting, traders have the necessary tools to make informed decisions on both platforms. Additionally, users can create watchlists with real-time quotes on both FXGT.com and LegacyFX apps, although FXGT.com extends this convenience further by allowing watchlist symbol syncing, meaning any changes made on the mobile app also reflect on the online account.
In terms of ratings, FXGT.com and LegacyFX both receive a score of 3.5 out of 5 stars for their mobile trading apps, suggesting they offer a satisfactory user experience. However, when ranked by ForexBrokers.com out of 63 brokers, FXGT.com is placed at #58, slightly ahead of LegacyFX, which is ranked at #61. This indicates that while both apps offer many similar features and user experiences, FXGT.com may have a slight edge over LegacyFX in terms of overall performance and functionality.
| Feature |
FXGT.com
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FXGT.com and LegacyFX on market research features, several distinctions emerge that can help traders decide which platform aligns with their needs. LegacyFX offers daily market commentary, while FXGT.com does not. Additionally, LegacyFX provides forex news from renowned sources such as Bloomberg or Reuters, enhancing its professional insights, which is another advantage over FXGT.com. Traders looking for advanced analysis will find LegacyFX integrates tools from Autochartist, unlike FXGT.com, which may appeal to those needing detailed technical and fundamental research.
While FXGT.com does stand out with its sentiment-based trading tool that displays long or short positions across various instruments, LegacyFX lacks this feature, potentially limiting its insight into market sentiment. Both platforms offer an economic calendar showcasing global news events, catering to traders who rely on such information for strategizing their trades. Despite having these research tools, FXGT.com is rated slightly lower with three stars compared to LegacyFX’s 3.5 stars, and it ranks #56 out of 63 brokers, trailing behind LegacyFX at #46 in the Research category according to ForexBrokers.com. This comparison can guide traders in selecting a broker that best suits their approach to market analysis.
| Feature |
FXGT.com
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | ||
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, LegacyFX stands out compared to FXGT.com. While FXGT.com provides an investor dictionary with a good number of investing terms, it falls short in more interactive and thorough educational offerings. On the other hand, LegacyFX offers an extensive range of educational materials tailored for beginners, including more than ten educational pieces on forex and CFDs, alongside an impressive selection of beginner trading videos. Moreover, LegacyFX organizes monthly educational webinars and provides access to an archive, allowing clients to revisit recorded sessions whenever needed.
Despite FXGT.com receiving a reasonable three-star rating for education and possessing a dictionary of investing terms, it lacks the depth found at LegacyFX. LegacyFX not only performs better in client engagement through webinars and recorded sessions but also offers advanced educational materials that cater to seasoned traders. This more comprehensive educational approach is reflected in their slightly higher education rating of 3.5 stars and a more favorable ranking of 35 among 63 brokers by ForexBrokers.com, compared to FXGT.com's ranking of 60. Thus, for those seeking broader and more interactive educational tools to aid their trading journey, LegacyFX proves to be a more ideal choice.
| Feature |
FXGT.com
|
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 FXGT.com is better than LegacyFX. FXGT.com finished with an overall rank of #59, while LegacyFX finished with an overall rank of #63.
FXGT.com is a plain vanilla MetaTrader-only broker offering a narrow range of markets alongside a decent number of crypto CFDs and platform plugins. This broker lacks robust market research and educational resources beyond a few ebooks and some basic sentiment data. FXGT.com’s small number of regulatory licenses brings down its overall Trust Score. It’s also worth noting that, though FXGT.com is regulated in the EU, retail clients are not accepted in that region.
| Feature |
FXGT.com
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LegacyFX
|
|---|---|---|
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| Trust Score | 69 | 67 |
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Both FXGT.com and LegacyFX do not provide the option to buy actual (delivered) cryptocurrency, but each does offer the ability to purchase cryptocurrency derivatives, rather than the actual digital currencies themselves.
While both FXGT.com and LegacyFX provide Visa, Mastercard, and bank wire options for depositing or withdrawing funds, FXGT.com also offers ACH and SEPA transfers, unlike LegacyFX, which supports Skrill but not ACH, SEPA, or PayPal.
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 | FXGT.com | LegacyFX | |
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| Trust Score | 69 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | FXGT.com | LegacyFX | |
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| Regulation | FXGT.com | LegacyFX | |
|---|---|---|---|
| Trust Score | 69 | 67 | |
| Year Founded | 2019 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXGT.com | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | No | ||
| Hong Kong (SFC Authorised) | No | ||
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | No | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | ||
| USA (CFTC Authorized) | No | ||
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXGT.com | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | FXGT.com | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 117 | 425 | |
| Forex Pairs (Total) | 53 | 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). | 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 | FXGT.com | 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 | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXGT.com | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $5 | $500 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXGT.com | 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 | No | No |
| Trading Tools | FXGT.com | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 23 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXGT.com | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXGT.com | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | |||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXGT.com | 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 | FXGT.com | 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 | FXGT.com | LegacyFX | |
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| Trust Score | 69 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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