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 account | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing IC Markets vs LegacyFX for range of investments: IC Markets offers a far wider selection, with 3,583 tradeable symbols and 61 forex pairs, while LegacyFX lists 425 symbols and 44 forex pairs. Both support forex trading (CFDs and/or spot), provide copy trading, and let you trade crypto via CFDs, but neither allows buying actual, delivered cryptocurrency.
When it comes to real shares, neither broker offers U.S.-listed stocks, but IC Markets does provide access to exchange-traded securities on certain international markets, whereas LegacyFX does not. Reflecting this breadth, IC Markets is rated 4.5/5 stars and ranks #26 out of 63 for Range of Investments, compared to LegacyFX’s 3.5/5 stars and #49 ranking—making IC Markets the better fit for traders seeking more instruments, while LegacyFX covers the essentials.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 425 |
| Forex Pairs (Total) | 61 | 44 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
IC Markets and LegacyFX both make it easy to get started with a free demo account and offer desktop (Windows) and web-based platforms. Neither broker has its own proprietary platform, relying instead on third‑party options. The biggest difference is MetaTrader support: IC Markets offers both MT4 and MT5, while LegacyFX supports MT5 but not MT4. Both brokers include copy trading and let you place trades directly from charts, which can help streamline your workflow.
When it comes to platform quality and tools, IC Markets earns 4 out of 5 stars and ranks #16 out of 63 brokers at ForexBrokers.com, while LegacyFX scores 3.5 stars and ranks #61. If you want access to MT4 plus MT5, IC Markets has the edge; if you only need MT5, LegacyFX still covers the basics with web and desktop access, demo trading, copy-trading options, and chart-based order entry.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and LegacyFX both check the key boxes for mobile trading. Each offers an iPhone app and an Android app, plus stock and forex price alerts. Charting tools are similar on both platforms: 30 technical studies, the ability to draw trendlines, and automatic saving of your drawings. One shared drawback is that watchlists created on mobile do not sync with your online account.
Where they differ is in scores and rankings. IC Markets earns 4 out of 5 stars for Mobile Trading Apps and is ranked #22 out of 63 brokers by ForexBrokers.com. LegacyFX scores 3.5 out of 5 stars and is ranked #62 out of 63. If app quality and overall user experience matter most, IC Markets has the edge, while LegacyFX delivers comparable charting features but trails in independent rankings.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and LegacyFX both deliver forex and CFD education that clears the bar of 10+ learning pieces. Each hosts monthly client webinars and supplies a sizable video library, including at least 10 beginner-friendly videos to explain key trading basics, plus 10+ advanced videos for when you’re ready to go deeper.
Based on third-party evaluations, IC Markets holds a slight edge for education: it earns 4 stars and ranks #16 out of 63 brokers at ForexBrokers.com, while LegacyFX scores 3.5 stars and ranks #35. For beginners, both are good places to learn, but IC Markets may be the better pick if ratings and ranking are your tiebreakers, whereas LegacyFX still offers helpful webinars and plenty of videos to get started.
| Feature |
IC Markets
|
LegacyFX
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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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Online brokers IC Markets and LegacyFX do not offer buying actual (delivered) cryptocurrencies, but both support trading cryptocurrency CFDs.
IC Markets vs LegacyFX: neither supports ACH/SEPA for deposits or withdrawals; IC Markets offers PayPal, Skrill, and bank wire transfers, while LegacyFX’s support for PayPal, Skrill, Visa/Mastercard, and bank wires—along with IC Markets’ Visa/Mastercard—was not specified.
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, FSRA, or SCA 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. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $200 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | LegacyFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | IC Markets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | LegacyFX | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IC Markets | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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