Interactive Brokers vs LegacyFX 2025

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.

Regulation

Interactive Brokers and LegacyFX are both players in the online brokerage world, yet they stand apart in terms of trust and regulatory endorsements. Interactive Brokers, founded in 1977, has a stellar reputation, reflected by its maximum Trust Score of 99 out of 99 from ForexBrokers.com. It holds 9 Tier-1 licenses and 2 Tier-2 licenses, highlighting its strong compliance with top financial authorities. Furthermore, as a publicly traded company, Interactive Brokers offers transparency that can be reassuring for many investors, though it is not a bank.

In contrast, LegacyFX, founded more recently in 2012, is seen as having a higher risk with a Trust Score rating of 67 out of 99. While it is licensed with 1 Tier-1, it lacks any Tier-2 licenses, which may raise concerns for potential clients. Unlike Interactive Brokers, LegacyFX is not publicly traded, which might limit insights into its corporate practices. Similar to Interactive Brokers, LegacyFX is also not a bank. These differences highlight Interactive Brokers as the more regulated and potentially safer choice for cautious investors.

Feature	Interactive Brokers	LegacyFX
Year Founded info	1977	2012
Publicly Traded (Listed) info	Yes	No
Bank info	No	No
Tier-1 Licenses info	9	1
Tier-2 Licenses info	2	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	1

Fees

Interactive Brokers earns 5/5 stars and ranks #2 out of 63 brokers for commissions and fees, while LegacyFX is rated 3.5/5 stars and ranks #58. Interactive Brokers uses an agency-style, commission-based model that tends to be cheaper for standard lot sizes and active traders. LegacyFX’s costs are harder to pin down because it does not publish average spreads, and pricing varies by account tier and regulator.

At Interactive Brokers, the average EUR/USD spread in Q3 2024 was 0.19 pips, with an effective all-in cost of about 0.59 pips after commission. Forex commissions start at 0.00002 (0.2 basis points) per side with a $2 minimum per order ($4 round turn), roughly $16–$40 per million round turn. A typical 100,000 EUR/USD trade carries about 0.40 pips in commission in addition to the spread. Note the $2 per-side minimum makes smaller trade sizes proportionally pricier. High-volume discounts are available (minimums can drop to $1.50 per order above $1B monthly volume, and to $1 at $5B). IBKR Lite and IBKR Pro both support forex, but neither is commission-free.

LegacyFX does not publish average spreads, which makes real-world costs difficult to compare. In the EU, it offers Silver ($500 minimum deposit), Gold ($5,000), and Platinum ($25,000) accounts; the Silver account’s advertised minimum spread is as high as 1.6 pips on EUR/USD, with lower advertised minimums on higher tiers. Its international entity (Vanuatu) adds more tiers from $500 up to $50,000. Because LegacyFX relies on advertised minimums instead of average spreads, traders may find it harder to estimate ongoing costs versus a commission-based broker like Interactive Brokers.

Feature	Interactive Brokers	LegacyFX
Minimum Deposit info	$0	$500
Average spread (EUR/USD) - Standard account info	0.59 info	N/A
All-in Cost EUR/USD - Active info	0.65 info	N/A
Non-wire bank transfer info	Yes	No
PayPal (Deposit/Withdraw) info	No	No
Skrill (Deposit/Withdraw) info	No	Yes
Bank Wire (Deposit/Withdraw) info	Yes	Yes

Dive deeper: Best Low Spread Forex Brokers.

Range of investments

Interactive Brokers vs. LegacyFX: Interactive Brokers delivers access to 8,500 tradeable symbols, including 90 forex pairs, with forex available as both CFDs and spot. It also lets clients buy exchange-traded securities on U.S. and international exchanges (for example, Apple on NASDAQ and Vodafone in London). LegacyFX offers 425 symbols and 44 forex pairs, with forex available as CFDs and spot, but it does not provide access to exchange-traded stocks on U.S. or international exchanges.

For extras, LegacyFX supports copy trading, while Interactive Brokers does not. In crypto, Interactive Brokers offers both delivered cryptocurrencies and crypto CFDs; LegacyFX offers crypto CFDs only. Reflecting this breadth, ForexBrokers.com rates Interactive Brokers 5 stars for Range of Investments and ranks it #1 out of 63 brokers, while LegacyFX earns 3.5 stars and ranks #49.

Feature	Interactive Brokers	LegacyFX
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	425
Forex Pairs (Total) info	90	44
U.S. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	No	Yes
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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.

Trading platforms and tools

Interactive Brokers and LegacyFX both offer Windows desktop and web-based platforms, free paper trading (demo accounts), and the ability to place trades directly from charts. The key differences: Interactive Brokers provides a proprietary, in-house platform suite, while LegacyFX does not have its own platform and instead supports MetaTrader 5 (MT5; neither broker offers MT4). Copy trading is available at LegacyFX but not at Interactive Brokers.

When it comes to trading platforms and tools, ForexBrokers.com rates Interactive Brokers at 5 stars and ranks it #3 out of 63 brokers, while LegacyFX earns 3.5 stars and ranks #61. Choose Interactive Brokers if you want an in-house platform with many features and a free practice account; pick LegacyFX if MT5 and built-in copy trading are must-haves, keeping in mind its lower tools rating and ranking.

Feature	Interactive Brokers	LegacyFX
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	Yes	No
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	Yes
MetaTrader 4 (MT4) info	No	No
MetaTrader 5 (MT5) info	No	Yes
Charting - Indicators / Studies (Total) info	155	30
Charting - Trade From Chart info	Yes	Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and LegacyFX both offer mobile trading apps for iPhone and Android, with price alerts and the ability to draw trendlines on charts. Where they differ is in everyday workflow and charting depth: Interactive Brokers syncs watchlists between the mobile app and your online account, while LegacyFX does not. For charting, Interactive Brokers provides 97 technical studies compared with LegacyFX’s 30. One small trade-off: Interactive Brokers does not auto-save chart drawings, whereas LegacyFX does.

Ratings and rankings underscore the gap. Interactive Brokers earns 5 stars for Mobile Trading Apps and ranks #4 out of 63 brokers at ForexBrokers.com. LegacyFX is rated 3.5 stars and ranks #62. If you want richer charting and seamless watchlist syncing, the Interactive Brokers app is the stronger pick; if auto-saving drawings matters most, LegacyFX may appeal despite its lower ranking.

Feature	Interactive Brokers	LegacyFX
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	Yes	No
Mobile Charting - Indicators / Studies info	97	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes

Dive deeper: Best Forex Trading Apps.

Market research

Interactive Brokers and LegacyFX both deliver daily market commentary, forex news from top-tier sources such as Bloomberg or Reuters, and an economic calendar to track key events. The big differences show up in the extras: Interactive Brokers includes Trading Central analytics, a sentiment tool that shows long/short positioning, plus research from TipRanks and tools from Acuity Trading. LegacyFX offers Autochartist for technical and fundamental insights but does not include Trading Central or a sentiment tool; availability of TipRanks and Acuity Trading at LegacyFX is not specified.

For overall research quality, ForexBrokers.com rates Interactive Brokers 5 out of 5 stars and ranks it #3 out of 63 brokers, while LegacyFX earns 3.5 stars and ranks #47. If you want a wider set of research sources and analytics in one place, Interactive Brokers stands out. If you mainly need daily commentary, major news coverage, and Autochartist support, LegacyFX can fit the bill.

Feature	Interactive Brokers	LegacyFX
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
Client sentiment data info	Yes	No
TipRanks info	Yes
Acuity Trading info	Yes
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Comparing education for beginners at Interactive Brokers vs. LegacyFX: both brokers host ongoing client webinars at least once a month and offer sizable video libraries for learning. Each provides at least 10 beginner videos that explain trading basics in plain terms, plus at least 10 advanced videos for when you’re ready to level up. This mix of webinars and videos makes it easier to learn at your own pace, whether you’re just starting out or building on existing skills.

Where they differ is in quality and recognition. Interactive Brokers earns a 5-star Education rating and ranks #3 out of 63 brokers for Education on ForexBrokers.com, while LegacyFX holds a 3.5-star rating and ranks #35. If you’re a new trader choosing between the two, Interactive Brokers stands out for stronger overall education, while LegacyFX still offers helpful webinars and video content for getting started.

Feature	Interactive Brokers	LegacyFX
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than LegacyFX. Interactive Brokers finished with an overall rank of #2, while LegacyFX finished with an overall rank of #63.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature	Interactive Brokers	LegacyFX
Overall Rating info
Trust Score info	99	67
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	LegacyFX
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	67
Winner	check_circle
Review	Interactive Brokers Review	LegacyFX Review

Broker Screenshots	Interactive Brokers	LegacyFX
Broker Gallery (click to expand) info

Regulation	Interactive Brokers	LegacyFX
Trust Score info	99	67
Year Founded info	1977	2012
Publicly Traded (Listed) info	Yes	No
Bank info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info
Tier-1 Licenses info	9	1
Tier-2 Licenses info	2	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	1

Tier-1 Licenses (Highly Trusted)	Interactive Brokers	LegacyFX
Australia (ASIC Authorised) info	Yes	No
Canada (CIRO Authorised) info	Yes	No
Hong Kong (SFC Authorised) info	Yes	No
Japan (SFC Authorised) info	Yes	No
Singapore (MAS Authorised) info	Yes	No
Switzerland (FINMA Authorised) info	Yes
United Kingdom (U.K.) (FCA Authorised) info	Yes	No
USA (CFTC Authorized) info	Yes	No
New Zealand (FMA Authorised) info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info

Tier-2 Licenses (Trusted)	Interactive Brokers	LegacyFX
Kenya (CMA Authorised) info
Israel (ISA Authorised) info	No	No
South Africa (FSCA Authorised) info	No	No
UAE (DFSA, FSRA, or SCA Authorised) info	Yes	No
India (SEBI Authorised) info	Yes	No
Jordan (JSC Authorised) info

Investments	Interactive Brokers	LegacyFX
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	425
Forex Pairs (Total) info	90	44
U.S. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	No	Yes
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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	Interactive Brokers	LegacyFX
Average spread (EUR/USD) - Standard account info	0.59 info	N/A
All-in Cost EUR/USD - Active info	0.65 info	N/A
Inactivity Fee info	No	No
Order execution: Agency info	Yes	No
Order execution: Market Maker info	No	Yes

Funding	Interactive Brokers	LegacyFX
Minimum Deposit info	$0	$500
PayPal (Deposit/Withdraw) info	No	No
Skrill (Deposit/Withdraw) info	No	Yes
Bank Wire (Deposit/Withdraw) info	Yes	Yes
Non-wire bank transfer info	Yes	No

Trading Platforms	Interactive Brokers	LegacyFX
Proprietary Desktop Trading Platform info	Yes	No
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	Yes
MetaTrader 4 (MT4) info	No	No
MetaTrader 5 (MT5) info	No	Yes
cTrader info	No	No

Trading Tools	Interactive Brokers	LegacyFX
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	155	30
Charting - Trade From Chart info	Yes	Yes
Charts can be saved info	Yes	Yes

Mobile Trading	Interactive Brokers	LegacyFX
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	Yes	No
Mobile Charting - Indicators / Studies info	97	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	Interactive Brokers	LegacyFX
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
TipRanks info	Yes
Client sentiment data info	Yes	No
Economic Calendar info	Yes	Yes

Education	Interactive Brokers	LegacyFX
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Major Forex Pairs	Interactive Brokers	LegacyFX
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	Interactive Brokers Review	LegacyFX Review

Overall	Interactive Brokers	LegacyFX
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	67
Winner	check_circle
Review	Interactive Brokers Review	LegacyFX Review