Written by ForexBrokers.com
In this head to head comparison of GBE brokers 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.
When comparing GBE brokers and LegacyFX, both established online brokers, distinct differences in their trust and regulatory standings emerge. Founded in 2013, GBE brokers boasts a ForexBrokers.com Trust Score of 71 out of 99, indicating an average risk level. Meanwhile, LegacyFX, which started a year earlier in 2012, has a slightly lower Trust Score of 67, placing it in the high-risk category. Both brokers are privately held entities and do not operate as banks, sharing a non-public trading status.
On the regulatory front, GBE brokers and LegacyFX each hold one Tier-1 license, which is highly trusted according to ForexBrokers.com standards. However, neither of them holds any Tier-2 licenses. These shared regulatory standings highlight the security measures in place, yet also point to potential areas for growth in enhancing their trustworthiness scores. For investors, these trust and regulatory details provide essential factors to consider when choosing between the two brokers.
| Feature |
GBE brokers
|
LegacyFX
|
|---|---|---|
| Year Founded | 2013 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
GBE Brokers stands out with a solid reputation for its commissions and fees, earning 4 out of 5 stars. Despite the lack of detailed average spread data, GBE Brokers is ranked #37 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com, indicating a competitive position in this area. Its pricing structure is generally favorable for traders looking for cost-effective trading options, although specifics on spreads would enhance its transparency further.
In contrast, LegacyFX offers a range of account types whose fees vary considerably depending on the regulatory entity selected—either the EU-regulated entity via CySEC or the international entity based in Vanuatu. While average spreads aren't provided, traders can choose from multiple account tiers. The EU accounts include Silver, Gold, and Platinum, with the last offering the best-advertised spreads. However, the Silver account can incur higher trading costs, with spreads on the EUR/USD starting at 1.6 pips. For international clients, there are additional account levels, such as Bronze, Standard, and VIP, each requiring a higher minimum deposit and offering various levels of support and tool access.
LegacyFX is awarded 3.5 stars for its commissions and fees, ranking at #56 out of 62 brokers according to ForexBrokers.com. While LegacyFX provides a versatile account selection depending on customer location, the lack of average spread data creates uncertainty about the true cost of trading, a crucial factor where other leading brokers excel.
| Feature |
GBE brokers
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $500 | $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) | Yes | 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.
GBE Brokers and LegacyFX both offer an extensive selection of investment opportunities, catering to different trading preferences. Both brokers support forex trading as CFDs, allowing traders access to a variety of markets. GBE Brokers stands out with a total of 500 tradeable symbols, which includes 71 available forex pairs. In comparison, LegacyFX offers 425 tradeable symbols with 44 forex pairs, slightly lacking in the forex department. Neither broker provides direct access to publicly traded U.S. or international stocks, opting instead to focus on other asset classes.
In addition to forex trading, both platforms allow users to engage in copy trading and trade cryptocurrency derivatives. However, neither supports the purchase of actual cryptocurrencies, keeping their focus on derivative products. Rated 3.5 stars for their range of investments, GBE Brokers and LegacyFX offer similar scopes of services, though GBE Brokers is slightly ahead in the rankings at 44th place compared to LegacyFX’s 48th out of 62 brokers surveyed by ForexBrokers.com.
| Feature |
GBE brokers
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 425 |
| Forex Pairs (Total) | 71 | 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 the trading platforms and tools of GBE brokers and LegacyFX, both offer significant features tailored for traders of all experience levels. Both brokers provide free virtual demo accounts, allowing users to practice trading without financial risk. However, neither broker has developed an in-house trading platform. Instead, traders at both brokers can access trading via downloadable Windows-based desktop platforms and convenient web-based interfaces. An essential feature many traders look for is copy trading, which both GBE brokers and LegacyFX support, providing a seamless way to follow and mimic successful trades. For those familiar with MetaTrader platforms, GBE brokers deliver both MT4 and MT5, whereas LegacyFX only supports MT5. Neither broker supports DupliTrade or ZuluTrade, but both facilitate direct trading from stock charts. Charting capabilities include 15 drawing tools and a watchlist featuring seven customizable columns.
When it comes to ratings and rankings, GBE brokers edges out with a four-star rating in Trading Platforms and Tools compared to LegacyFX’s 3.5 stars. Despite this, GBE brokers ranks 57th out of 62 brokers reviewed by ForexBrokers.com, slightly outperforming LegacyFX, which sits at 59th in the same category. Overall, both platforms offer comprehensive trading tools and platforms, but GBE brokers may have a slight advantage for traders who rely heavily on technical indicators available within MetaTrader 4 and other platform functionalities.
| Feature |
GBE brokers
|
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) | 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.
Both GBE Brokers and LegacyFX offer mobile trading apps that are available on iPhone and Android devices, providing users with the flexibility to trade on the go. Each app supports stock and forex price alerts, allowing traders to stay updated with market movements. Both platforms offer charting capabilities with 30 technical studies available in their apps, along with the ability to draw trendlines and view multiple time frames on charts, catering to varied analytical preferences. Additionally, drawings on charts are automatically saved, simplifying the user experience. Both brokers also support real-time quotes in watchlists, although neither offers watchlist symbol syncing between the app and online accounts, which might be a consideration for traders seeking seamless integration.
When it comes to user ratings, GBE Brokers edges slightly ahead with a 4-star rating for its mobile trading apps, while LegacyFX holds a 3.5-star rating. In the ForexBrokers.com ranking for mobile trading apps, which includes 62 brokers in total, GBE Brokers is placed at #57, while LegacyFX is ranked at #60. These rankings and ratings provide a snapshot of user satisfaction and performance, which can aid traders in making informed decisions based on their mobile trading needs and preferences.
| Feature |
GBE brokers
|
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 | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to daily market commentary, both GBE brokers and LegacyFX provide this essential service to their clients. However, LegacyFX takes the lead in offering forex news from top-tier sources like Bloomberg and Reuters, while GBE brokers do not provide this feature. For those keen on using advanced analytical tools, LegacyFX supports Autochartist for technical or fundamental research, a service absent from GBE brokers. On the flip side, GBE brokers provide a unique sentiment-based trading tool that helps traders understand the market mood by displaying long or short positions across various instruments.
Both brokers offer comprehensive economic calendars that display global news events crucial for decision-making. Despite these strengths, neither GBE brokers nor LegacyFX features research tools from the well-regarded companies like TipRanks or Acuity Trading. In terms of research rating, LegacyFX fares better with a 3.5-star rating, compared to GBE brokers at 3 stars. Moreover, in the competitive landscape evaluated by ForexBrokers.com, LegacyFX ranks higher at 45th out of 62 brokers, while GBE brokers fall behind in 61st place, highlighting a significant gap in research capabilities.
| Feature |
GBE brokers
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners, LegacyFX stands out as a more comprehensive option than GBE brokers. LegacyFX provides a wide array of over ten educational materials, including articles, videos, and archived webinars dedicated to forex and CFDs. Additionally, LegacyFX hosts monthly online client webinars and maintains a searchable archive of these recorded sessions. Their educational content extends to at least ten beginner-friendly videos that make complex trading topics more accessible, alongside ten advanced videos for more experienced traders. LegacyFX even offers an investor dictionary with definitions of over fifty investing terms, catering to various learning needs.
On the other hand, GBE brokers falls behind in providing educational resources for beginners. They do not offer a collection of ten forex or CFDs educational pieces, nor do they host regular online client webinars. While GBE brokers lacks a searchable archive of webinars, LegacyFX makes it easy for clients to revisit past sessions. Furthermore, GBE brokers does not provide a series of beginner or advanced trading videos, or an investor dictionary. Despite these gaps, GBE brokers maintains a 3-star rating in education, while LegacyFX slightly surpasses that with a 3.5-star rating. In rankings, LegacyFX is placed at #35 by ForexBrokers.com for their educational offerings, whereas GBE brokers is at the bottom at #62.
| Feature |
GBE brokers
|
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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that GBE brokers is better than LegacyFX. GBE brokers finished with an overall rank of #56, while LegacyFX finished with an overall rank of #62.
GBE offers 500 tradeable symbols from its CySEC-regulated entity in Cyprus, but lacks additional regulatory licenses which hampers its Trust Score, compared to leading multi-asset brokers.
| Feature |
GBE brokers
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 67 |
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GBE brokers and LegacyFX both offer the ability to trade cryptocurrency derivatives, but neither platform allows for the purchase of actual, delivered cryptocurrency.
GBE Brokers offers a wider variety of fund deposit and withdrawal options, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, compared to LegacyFX, which supports Skrill, Visa, Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal options.
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 | GBE brokers | LegacyFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | GBE brokers | LegacyFX | |
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| Regulation | GBE brokers | LegacyFX | |
|---|---|---|---|
| Trust Score | 71 | 67 | |
| Year Founded | 2013 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | GBE brokers | 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) | No | No | |
| 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) | GBE brokers | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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) | No | No |
| Investments | GBE brokers | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 425 | |
| Forex Pairs (Total) | 71 | 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 | GBE brokers | 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 | GBE brokers | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $500 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | GBE brokers | 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 | GBE brokers | 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 | GBE brokers | 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 | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | GBE brokers | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | GBE brokers | 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) | No | Yes |
| Major Forex Pairs | GBE brokers | 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 | GBE brokers | LegacyFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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