Written by ForexBrokers.com
In this head to head comparison of iFOREX 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 iFOREX and LegacyFX, it's clear both brokers, despite offering financial services, are not publicly traded or classified as banks. Founded in 1996, iFOREX has greater longevity in the market compared to LegacyFX, which began operations in 2012. Regulatory oversight is a critical factor in assessing trustworthiness. Both brokers hold one Tier-1 license, which signifies a high level of trust according to ForexBrokers.com. However, neither holds any Tier-2 licenses.
In terms of trust ratings from ForexBrokers.com, iFOREX received a score of 75, positioning it in the average risk category. LegacyFX, on the other hand, received a score of 67, which places it in the high-risk category. These scores suggest that while iFOREX might offer a more reliable option based on regulatory credibility, LegacyFX may present a slightly higher risk to potential investors.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Year Founded | 1996 | 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 |
Comparing commissions and fees, both iFOREX and LegacyFX fall short on pricing transparency because neither publishes average spread data. That makes it tough to estimate your real trading costs. Based on ForexBrokers.com’s scoring for this category, iFOREX earns 3 out of 5 stars and ranks #62 of 63, while LegacyFX scores slightly higher at 3.5 out of 5 stars and ranks #58 of 63.
For iFOREX, the absence of average spread figures means you can’t easily benchmark its spreads against peers or calculate typical costs per trade. If you rely on published averages to plan expenses, this lack of data is a key consideration.
LegacyFX offers more account tiers, but still no average spread data to gauge true costs. In the EU (CySEC-regulated entity), there are Silver, Gold, and Platinum accounts with minimum deposits of $500, $5,000, and $25,000; advertised spreads are lowest on Platinum, slightly higher on Gold, and notably higher on Silver, where the minimum EUR/USD spread can be as high as 1.6 pips. Internationally (Vanuatu entity), there are seven tiers—Standard ($500), Bronze ($1,000), Silver ($3,000), Gold ($5,000), Platinum ($10,000), Premium ($25,000), and VIP ($50,000)—with higher tiers mainly unlocking more support and tools rather than clearly defined lower average spreads. Overall, LegacyFX edges out iFOREX on ratings, but both lack the pricing clarity many cost-conscious traders prefer.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $500 |
| Average spread (EUR/USD) - Standard account | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
iFOREX offers a wider range of investments with 750 tradable symbols and 88 forex pairs, compared with LegacyFX’s 425 symbols and 44 forex pairs. Both brokers support forex trading and CFDs across multiple markets, but LegacyFX stands out by offering copy trading, which iFOREX does not.
Neither broker provides access to exchange-traded U.S. or international stocks, so you can’t buy actual shares like Apple or Vodafone. Both offer cryptocurrency CFDs but not actual (delivered) crypto. For Range of Investments, each earns 3.5 out of 5 stars. In ForexBrokers.com’s ranking of 63 brokers, iFOREX is placed #42, while LegacyFX is #49.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 750 | 425 |
| Forex Pairs (Total) | 88 | 44 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | No | 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.
iFOREX vs LegacyFX for trading platforms and tools: iFOREX offers a proprietary, in‑house platform that runs in your web browser and supports trading directly from charts. It does not provide a Windows desktop platform, copy trading, MetaTrader 4, or MetaTrader 5, and there’s no free demo (paper) account. LegacyFX, by contrast, has a web platform plus a Windows desktop download, supports copy trading and MT5 (but not MT4), and also lets you trade from charts. It does not have its own proprietary platform, but it does offer a free virtual demo account for practice.
According to ForexBrokers.com, iFOREX is rated 4 out of 5 stars for Trading Platforms and Tools and ranks #55 out of 63 brokers, while LegacyFX is rated 3.5 out of 5 stars and ranks #61. In short, iFOREX suits traders who want a straightforward, browser-based proprietary experience without MT5 or copy trading, whereas LegacyFX fits those who prefer a Windows desktop platform, MT5, copy trading, and an easy way to practice with a demo account.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 57 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
iFOREX and LegacyFX both offer mobile trading apps for iPhone and Android, so you can trade on the go with either broker. The differences start with features: LegacyFX supports price alerts, while iFOREX does not. Neither app syncs watchlists with the web platform, so lists you create on mobile won’t automatically match your online account.
For charting, LegacyFX is the stronger pick, offering around 30 technical studies, trendline drawing, and auto‑saving for your drawings. iFOREX doesn’t list built‑in studies and lacks trendline tools and auto‑save. Despite that, iFOREX holds a higher overall Mobile Trading Apps rating (4 stars) and a better category ranking (#56 out of 63) than LegacyFX (3.5 stars, #62). If you value alerts and chart tools, LegacyFX has the edge. If you prioritize overall app score and availability on both major platforms, iFOREX is worth a look.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | No | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
iFOREX and LegacyFX both deliver daily market commentary and an economic calendar to help you track key events. LegacyFX stands out for offering forex news from top-tier outlets like Bloomberg, Reuters, or Dow Jones and includes Autochartist for technical analysis. iFOREX, on the other hand, provides Trading Central tools and a sentiment gauge that shows the ratio of long vs. short positions, though it does not include premium news.
If you want integrated real-time news and Autochartist, LegacyFX may suit you; if you prefer Trading Central insights and sentiment data, iFOREX is a strong alternative. Both are rated 3.5 out of 5 for research, with LegacyFX ranked #47 and iFOREX #49 out of 63 brokers by ForexBrokers.com. Availability of TipRanks and Acuity Trading tools is not specified for either broker.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | ||
| Acuity Trading | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner traders comparing iFOREX and LegacyFX for forex and CFD education, both brokers offer at least 10 beginner-friendly videos that explain the basics in clear terms. LegacyFX adds monthly live client webinars and also delivers 10+ advanced videos for when you’re ready to go beyond the fundamentals. By contrast, iFOREX does not run monthly webinars and does not meet the 10-video mark for advanced topics, so its learning track leans more toward self-paced beginner videos.
Both are rated 3.5 out of 5 stars for Education, but LegacyFX ranks higher overall in this category (#35 of 63) than iFOREX (#53 of 63). If you want ongoing live sessions and more depth as you progress, LegacyFX has the edge. If you’re mainly after straightforward beginner video lessons without live webinars, iFOREX can fit the bill.
| Feature |
iFOREX
|
LegacyFX
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that iFOREX is better than LegacyFX. iFOREX finished with an overall rank of #52, while LegacyFX finished with an overall rank of #63.
iFOREX is operated by a long-standing company, previously known as Vestle, with regulatory status in a growing number of jurisdictions, offering forex and CFDs through its proprietary platform. The biggest drawback is the lack of markets you can trade with fewer than 200, compared to the best multi asset forex and CFD brokers.
| Feature |
iFOREX
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LegacyFX
|
|---|---|---|
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| Trust Score | 75 | 67 |
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In the iFOREX vs LegacyFX comparison, neither broker offers buying actual (delivered) cryptocurrencies, but both allow trading cryptocurrency CFDs.
iFOREX vs LegacyFX: both brokers do not support ACH or SEPA transfers but do allow bank wire deposits/withdrawals and Skrill; iFOREX additionally supports PayPal while LegacyFX does not, and Visa/Mastercard availability is not specified for either.
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 | iFOREX | LegacyFX | |
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| Trust Score | 75 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | iFOREX | LegacyFX | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | iFOREX | LegacyFX | |
|---|---|---|---|
| Trust Score | 75 | 67 | |
| Year Founded | 1996 | 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) | iFOREX | 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) | iFOREX | 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 | iFOREX | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 750 | 425 | |
| Forex Pairs (Total) | 88 | 44 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | No | 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 | iFOREX | LegacyFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | iFOREX | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | iFOREX | LegacyFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | iFOREX | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Price Alerts | No | Yes | |
| Charting - Indicators / Studies (Total) | 57 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | iFOREX | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | No | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | No | Yes |
| Research | iFOREX | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | |||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | iFOREX | LegacyFX | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes |
| Major Forex Pairs | iFOREX | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | LegacyFX Review |
| Overall | iFOREX | LegacyFX | |
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| Trust Score | 75 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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