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 |
When it comes to commissions and fees, GBE Brokers holds a competitive position with a four-star rating. While specific average spread data is not available, GBE Brokers is ranked 37th out of 63 brokers by ForexBrokers.com in the Commissions and Fees category. This suggests a solid offering in terms of cost-efficiency, even without average spread figures for direct comparison.
On the other hand, LegacyFX offers a varied account structure depending on the entity you choose. For the EU entity regulated by CySEC, there are three account types—Silver, Gold, and Platinum—with minimum deposits of $500, $5,000, and $25,000, respectively. The advertised spreads are lowest for Platinum accounts, while Silver accounts incur spreads as high as 1.6 pips for EUR/USD. The international entity in Vanuatu provides more choices with seven account types, starting from Standard to VIP, each offering different levels of client support.
Despite these options, average spreads for LegacyFX remain unspecified, preventing a full assessment of trading costs. Compared to GBE Brokers, LegacyFX has a slightly lower rating of 3.5 stars for commissions and fees and ranks 57th among 63 brokers. This places them behind GBE Brokers in terms of cost-related competitiveness.
| Feature |
GBE brokers
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $1000 | $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 forex trading as CFDs, providing a solid foundation for traders interested in currency markets. When it comes to the number of tradeable symbols, GBE brokers edges out LegacyFX with 500 available symbols compared to LegacyFX's 425. In terms of forex pairs, GBE brokers offers a wider selection of 71 pairs, while LegacyFX provides 44. Both brokers also support copy trading, appealing to those who prefer mirroring successful strategies. Though neither broker supports buying actual cryptocurrency, they do offer cryptocurrency derivatives, allowing traders to speculate on crypto price movements without owning the currencies themselves.
For investors interested in exchange-traded securities, both GBE brokers and LegacyFX have limitations. Neither broker allows for the purchasing of stocks on U.S. or international exchanges, missing out on direct investment in companies like Apple or Vodafone. In terms of industry rankings by ForexBrokers.com, GBE brokers is slightly more favorably ranked at 44th compared to LegacyFX at 48th for Range of Investments. Both brokers receive a rating of 3.5 stars for their investment offerings, reflecting a competitive yet similar standing in the investment landscape.
| 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.
Both GBE brokers and LegacyFX offer traders the opportunity to practice their skills with free virtual demo accounts. However, neither broker has developed a unique proprietary platform, relying instead on well-known trading interfaces. For Windows users, both platforms provide downloadable desktop software. Additionally, traders can access their accounts through web-based platforms, ensuring flexibility whether you're on a desktop or a laptop. Both GBE brokers and LegacyFX support copy trading, allowing users to mirror the trades of more experienced traders. When it comes to popular platforms, GBE brokers offer both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX only supports MetaTrader 5 (MT5).
Charting tools at both brokers are quite similar, each providing 15 drawing tools to assist traders with their analysis. Users can also trade directly from stock charts on both platforms. If organization is important to you, both GBE brokers and LegacyFX offer watch lists with seven columns or fields to customize. Notably, in terms of trading platforms and tools, GBE brokers receive a slightly higher rating of four stars compared to LegacyFX's 3.5 stars. According to ForexBrokers.com, GBE brokers are ranked #57 out of 63 brokers, while LegacyFX is ranked #60, offering a slight edge in this category for GBE brokers.
| 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 provide convenient mobile trading solutions that cater to the needs of traders who use iPhone and Android devices. Each of these brokers ensures that users receive real-time stock or forex price alerts and have access to 30 technical studies for in-depth charting analysis. While neither broker offers watchlist syncing between mobile and online accounts, users can rely on the functionality of adding or monitoring trendlines, exploring various time frames, and enjoying real-time quote watchlists that enhance their mobile trading experience. Additionally, both GBE Brokers and LegacyFX ensure chart drawings are auto-saved, allowing traders ease and flexibility in analyzing market trends without losing valuable information.
In the realm of mobile trading app performance, GBE Brokers stands slightly above LegacyFX with a 4-star rating compared to LegacyFX's 3.5 stars. Although both brokers rank relatively low on ForexBrokers.com's comparison list, with GBE Brokers at #57 and LegacyFX at #61 among 63 brokers, their mobile applications still offer essential features for traders on the go. The availability of fundamental tools and seamless access to mobile trading could make either platform a viable option depending on individual trader priorities 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 market research features, both GBE Brokers and LegacyFX provide daily market commentary and an economic calendar that highlights key global events. However, they differ in their offerings in other areas. LegacyFX offers forex news from top-tier sources such as Bloomberg and Reuters, while GBE Brokers does not have this feature. Additionally, LegacyFX provides access to technical analysis tools from Autochartist, enhancing its research capabilities.
On the other hand, GBE Brokers stands out with its sentiment-based trading tool, which helps traders gauge market positioning across various instruments. Neither broker offers tools from Trading Central or research from TipRanks and Acuity Trading. In terms of ratings, LegacyFX scores slightly higher with 3.5 stars out of five for research compared to GBE Brokers’ 3 stars. LegacyFX is also better ranked, coming in at 46th place among 63 brokers on ForexBrokers.com, whereas GBE Brokers ranks 62nd.
| 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 | ||
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, GBE brokers and LegacyFX offer quite different experiences for those new to forex and CFDs trading. While GBE brokers lacks a variety of educational materials, LegacyFX provides a more comprehensive set of learning tools. LegacyFX offers over ten educational pieces including articles, videos, and archived webinars aimed at enhancing their clients’ understanding of forex and CFDs. In addition, LegacyFX hosts monthly educational webinars and maintains a searchable archive of these sessions, which is an excellent resource for continual learning.
GBE brokers, on the other hand, does not deliver the same level of educational support, lacking in all these areas. For beginners looking for online educational webinars or a dictionary of investing terms, LegacyFX is the better option, as it includes an investor dictionary with over 50 terms and also curates beginner and advanced videos on trading topics. With a slightly higher education rating of 3.5 stars compared to GBE brokers' 3 stars, and a superior ranking at #35 among 63 brokers for education, LegacyFX stands out as a more resourceful choice for anyone starting their trading journey.
| 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 63 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 #57, while LegacyFX finished with an overall rank of #63.
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
|
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 | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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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) | |||
| 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) | |||
| 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 | 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 | $1000 | $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 | |||
| 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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