Written by ForexBrokers.com
In this head to head comparison of HFM 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.
HFM and LegacyFX are two online brokers that have been serving traders since 2010 and 2012, respectively. Neither of them is publicly traded nor operates as a bank. In terms of regulatory credentials, HFM boasts a stronger position with two Tier-1 licenses and three Tier-2 licenses. These credentials contribute to its Trust Score of 86 out of 99 on ForexBrokers.com, categorizing it as trusted.
In comparison, LegacyFX holds one Tier-1 license and no Tier-2 licenses, resulting in a ForexBrokers.com Trust Score of 67, which places it in the high-risk category. While both brokers are not publicly listed or banks, HFM has a wider regulatory protection net, offering traders a relatively more trusted environment for online trading.
| Feature |
HFM
|
LegacyFX
|
|---|---|---|
| Year Founded | 2010 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
HFM edges out LegacyFX on commissions and fees thanks to clearer—though not perfect—pricing. HFM earns 4 out of 5 stars and ranks #32 of 63 for this category, while LegacyFX holds 3.5 out of 5 stars and ranks #58 of 63. In short, HFM’s costs are slightly above the industry average but easier to gauge than LegacyFX, which provides fewer reliable benchmarks for typical spreads.
At HFM, the Standard account lists a typical spread of 1.2 pips, but there’s no date range to confirm it as a true average. The Zero account can be sharper at an effective 0.7 pips after commission, yet this figure is also not an average. These caveats aside, HFM’s pricing is relatively straightforward for evaluating day‑to‑day trading costs.
LegacyFX’s pricing depends on the entity and account tier, and it does not publish average spreads, making real‑world costs harder to compare. In the EU (CySEC), Silver, Gold, and Platinum accounts require $500, $5,000, and $25,000 minimum deposits, with tighter spreads at higher tiers; the Silver account can be as high as 1.6 pips on EUR/USD. Internationally (Vanuatu), there are seven tiers from Standard ($500) to VIP ($50,000). These mainly change service perks and tool access rather than providing clear, average pricing, which contributes to LegacyFX’s lower ranking for fees.
| Feature |
HFM
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $500 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
HFM and LegacyFX both support forex trading as CFDs or spot contracts, and each offers copy trading. HFM provides a wider range overall with 500 tradeable symbols and 102 forex pairs, compared with LegacyFX’s 425 symbols and 44 pairs. Neither broker offers exchange-traded stocks on U.S. or international exchanges, and neither lets you buy actual cryptocurrency; however, both include cryptocurrency derivatives for trading.
For range of investments, HFM earns 4 stars and ranks 37th out of 63 brokers at ForexBrokers.com, while LegacyFX earns 3.5 stars and ranks 49th. In simple terms, HFM edges out LegacyFX for variety—especially in forex pairs—while both share the same limitations around direct stock and crypto access.
| Feature |
HFM
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 425 |
| Forex Pairs (Total) | 102 | 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.
HFM and LegacyFX both offer free demo (paper) accounts, web-based and Windows desktop platforms, copy trading, and the ability to place trades directly from charts. Each supports MetaTrader 5, provides seven watchlist columns, and does not integrate DupliTrade or ZuluTrade. The number of built-in technical indicators wasn’t specified for either broker.
Key differences: HFM includes a proprietary in‑house platform and supports MetaTrader 4, while LegacyFX does not. For charting, HFM lists 30 drawing tools compared with 15 at LegacyFX. These factors help explain why HFM earns 4 stars and ranks 43rd out of 63 brokers for Trading Platforms and Tools, while LegacyFX scores 3.5 stars and ranks 61st. If you want MT4 access and more drawing tools, HFM stands out; if you only need MT5 and a demo account, both brokers fit the bill.
| Feature |
HFM
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM and LegacyFX both offer full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, real-time quotes on custom watchlists, and essential charting tools: 30 technical studies, trendline drawing, and multiple time frames from intraday to daily and weekly. Drawings auto-save on both platforms. One shared limitation is that watchlists don’t sync between the mobile app and the client’s web account.
Where they differ is in overall quality scores. HFM’s mobile trading app earns 4 stars and ranks #40 out of 63 brokers at ForexBrokers.com. LegacyFX trails with a 3.5-star rating and a #62 ranking. If you want similar features but place weight on third-party ratings and industry standing, HFM has the edge.
| Feature |
HFM
|
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.
HFM and LegacyFX both cover the research essentials: daily market commentary, forex news from top-tier sources (such as Bloomberg, Reuters, or Dow Jones), Autochartist tools, and an economic calendar. Neither broker integrates Trading Central. HFM stands out by adding a sentiment tool that shows the long/short split across instruments, while LegacyFX does not. HFM does not offer TipRanks or Acuity Trading; for LegacyFX, access to TipRanks or Acuity Trading isn’t specified in the available details.
In testing by ForexBrokers.com, HFM earned 4 stars for Research and ranked #20 out of 63 brokers, while LegacyFX received 3.5 stars and ranked #47. If you want sentiment data alongside news and analysis, HFM has the edge; if you only need commentary, a calendar, and Autochartist, LegacyFX covers the basics.
| Feature |
HFM
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both HFM and LegacyFX offer a well-rounded selection tailored to those new to forex and CFDs trading. Each broker provides over 10 educational pieces, including articles, videos, and archived webinars, all focusing on essential trading topics. Beginners will also benefit from at least 10 videos created specifically for them, helping to break down complex trading concepts into digestible content. Monthly webinars are available from both brokers, allowing clients to engage with interactive sessions to enhance their learning experience. Furthermore, each broker hosts a searchable archive of these past webinars, offering flexibility for those eager to reinforce their learning on their own time.
In addition to beginner-friendly content, both HFM and LegacyFX cater to more experienced traders with a suite of advanced videos. A comprehensive investor dictionary offered by each platform helps clarify over 50 investing terms, serving as a handy reference tool for traders at any stage. While HFM and LegacyFX deliver comparably rich educational offerings, HFM edges out slightly in rating with a 4-star education rating versus LegacyFX's 3.5-star rating. Interestingly, despite its higher educational rating, HFM ranks 37th among 63 brokers, slightly below LegacyFX's 35th place ranking in the Education category according to ForexBrokers.com.
| Feature |
HFM
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | 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 HFM is better than LegacyFX. HFM finished with an overall rank of #30, while LegacyFX finished with an overall rank of #63.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 67 |
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Both HFM and LegacyFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
Both HFM and LegacyFX do not offer ACH or SEPA transfers or PayPal as options for depositing or withdrawing funds, but they do support Skrill, Visa or Mastercard, and bank wire transfers for such transactions.
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 | HFM | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HFM Review | LegacyFX Review |
| Broker Screenshots | HFM | LegacyFX | |
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| Regulation | HFM | LegacyFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 2010 | 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 | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | 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) | HFM | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | HFM | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 425 | |
| Forex Pairs (Total) | 102 | 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 | HFM | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $500 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HFM | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | HFM | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | 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 | HFM | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HFM | 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 | HFM Review | LegacyFX Review |
| Overall | HFM | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HFM Review | LegacyFX Review |
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