Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets, established in 2007, is a reputable online broker known for its strong regulatory standing. With a Trust Score of 84 from ForexBrokers.com, IC Markets is considered trusted. The broker holds two Tier-1 licenses, indicating a high level of trustworthiness, but it is neither publicly traded nor operates as a bank. This makes IC Markets a solid choice for traders seeking a reliable platform with substantial regulatory backing.
LegacyFX, founded in 2012, offers a different level of assurance with its regulatory credentials. Holding one Tier-1 license, LegacyFX earns a ForexBrokers.com Trust Score of 67, categorizing it as a higher risk broker compared to IC Markets. Like its counterpart, LegacyFX is not listed on a stock exchange and does not function as a bank. Traders considering LegacyFX should weigh its regulatory status in the context of their personal risk tolerance and investment needs.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2007 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing commissions and fees, IC Markets stands out with a 5/5 star rating and a #5 of 63 ranking for the Commissions & Fees category, while LegacyFX holds 3.5/5 stars and ranks #58 of 63. The gap comes down to pricing structure, average spread data, and how clearly each broker discloses costs.
IC Markets offers three account types: Standard (spread-only), Raw Spread (MT4/MT5), and cTrader Raw Spread. Commissions on cTrader are $3.0 per side per 100,000 units ($6 round turn), versus $3.5 per side ($7 round turn) on MT4/MT5 Raw. IC Markets lists an average EUR/USD spread of 0.02 pips; the all-in cost is about 0.62 pips on cTrader Raw and 0.72 pips on MT4/MT5 Raw. The Standard account is commission-free with an average EUR/USD spread of 0.62 pips. Spreads vary by platform and entity (EU, Australia, Seychelles). Add in a low deposit requirement for commission accounts and volume discounts for 100+ lots per month, and IC Markets delivers pricing that rivals low-cost leaders like IG and CMC Markets—earning Best in Class for Commissions & Fees in 2024.
LegacyFX’s pricing depends on the entity and account tier. In the EU (CySEC), three accounts—Silver ($500 min), Gold ($5,000), and Platinum ($25,000)—offer tighter advertised spreads at higher tiers; the Silver account shows a minimum EUR/USD spread as high as 1.6 pips. Internationally (Vanuatu), seven tiers range from $500 (Standard) to $50,000 (VIP), with services scaling by tier. A key drawback is that LegacyFX does not publish average spreads, making it difficult to assess true all-in trading costs compared with peers.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $200 | $500 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | 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.
IC Markets offers a far wider range of investments than LegacyFX, with 3,583 tradeable symbols versus 425. Forex traders also get more choice at IC Markets, with 61 currency pairs compared with 44 at LegacyFX. Both brokers support forex trading, offer copy trading, and let you trade cryptocurrency via derivatives (not the actual coins). Neither broker lets you buy U.S.-listed shares outright, but IC Markets does provide access to exchange-traded securities on some international exchanges, while LegacyFX does not.
Independent ratings reflect this breadth: IC Markets scores 4.5/5 stars for Range of Investments and ranks 26th out of 63 brokers on ForexBrokers.com, while LegacyFX scores 3.5/5 stars and ranks 49th. If you want more markets and forex pairs under one roof, IC Markets delivers broader choice; LegacyFX may appeal if you prefer a smaller lineup with copy trading and crypto derivatives still available.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 425 |
| Forex Pairs (Total) | 61 | 44 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
Comparing IC Markets vs LegacyFX for trading platforms and tools: both brokers provide free demo accounts, Windows desktop software, and a web-based platform, and neither offers a proprietary system. IC Markets supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX offers MT5 only—useful to note if you prefer MT4. Both brokers also support copy trading, but their options differ.
On the tools side, each broker lets you trade directly from charts, includes 15 drawing tools, and offers watch lists with 7 columns. For social trading, IC Markets works with ZuluTrade, whereas LegacyFX does not; neither supports DupliTrade. For overall platform and tool quality, IC Markets is rated 4 stars and ranked #16 out of 63, while LegacyFX is rated 3.5 stars and ranked #61 out of 63—suggesting IC Markets has the edge in platform variety and copy-trading integrations.
| Feature |
IC Markets
|
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 | Yes | 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.
IC Markets and LegacyFX both offer mobile trading apps for iPhone and Android, with price alerts and watchlists that show real-time quotes. Each app includes 30 technical indicators, the ability to draw trendlines, multiple time frames (intraday to weekly), and auto-saving for chart drawings. One limitation shared by both brokers is that watchlists created on mobile do not sync with the online account.
Where they differ is overall quality. IC Markets earns 4 stars and ranks #22 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while LegacyFX scores 3.5 stars and ranks #62. If you want a feature-rich forex trading app on your smartphone, both will cover the basics, but IC Markets is rated higher for the mobile experience.
| Feature |
IC Markets
|
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.
IC Markets and LegacyFX both deliver daily market commentary and forex news from top sources such as Bloomberg, Reuters, and Dow Jones. Each broker also includes Autochartist tools and an economic calendar to help you track trade setups and upcoming events. IC Markets goes further with Trading Central analytics and a sentiment tool that shows the share of long vs. short positions across instruments—features LegacyFX does not include. TipRanks and Acuity Trading integrations are not offered at IC Markets; for LegacyFX, availability of these integrations is not specified.
According to ForexBrokers.com, IC Markets earns 4 out of 5 stars for research and ranks #23 out of 63 brokers, while LegacyFX earns 3.5 stars and ranks #47. If you want Trading Central and sentiment data, IC Markets is the stronger choice; for everyday commentary, top-tier news, Autochartist, and an economic calendar, both platforms cover the essentials.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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, IC Markets and LegacyFX both provide solid offerings for those venturing into forex or CFDs trading. Both brokers offer more than ten educational materials, including articles, videos, and archived webinars focused on these subjects. Additionally, they host at least one instructional webinar each month and maintain searchable archives of their recorded sessions, making it easy for traders to learn at their own pace. For those just starting, both IC Markets and LegacyFX present over ten beginner-friendly videos on trading topics, laying a groundwork for newcomers to understand the complexities of the market.
In terms of advanced education, both brokers again present over ten videos designed to challenge experienced traders. They each supply an investor dictionary packed with definitions of more than fifty investing terms, enhancing understanding in the process. When rated on their educational offerings, IC Markets receives a slightly higher ranking with four stars compared to LegacyFX's 3.5 stars. On a broader scale, IC Markets is positioned at #16, and LegacyFX at #35 among 63 brokers in the Education category by ForexBrokers.com. This slight edge in rating and ranking suggests IC Markets may hold a modest advantage for education-focused traders.
| Feature |
IC Markets
|
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 IC Markets is better than LegacyFX. IC Markets finished with an overall rank of #20, while LegacyFX finished with an overall rank of #63.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 67 |
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Both IC Markets and LegacyFX provide options for trading cryptocurrency derivatives but do not offer the purchase of the actual, delivered cryptocurrency.
IC Markets and LegacyFX both provide multiple options for depositing or withdrawing funds, such as Visa, Mastercard, Skrill, and bank wires, but differ in that IC Markets supports PayPal transactions whereas LegacyFX does not, with neither offering ACH or SEPA transfers.
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 | IC Markets | LegacyFX | |
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| Trust Score | 84 | 67 | |
| Winner | check_circle | ||
| Review | IC Markets Review | LegacyFX Review |
| Broker Screenshots | IC Markets | LegacyFX | |
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| Regulation | IC Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 84 | 67 | |
| Year Founded | 2007 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | IC Markets | 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 | IC Markets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 425 | |
| Forex Pairs (Total) | 61 | 44 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | No |
| Trading Platforms | IC Markets | 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | 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 | IC Markets | 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 | IC Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | LegacyFX Review |
| Overall | IC Markets | LegacyFX | |
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| Trust Score | 84 | 67 | |
| Winner | check_circle | ||
| Review | IC Markets Review | LegacyFX Review |
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