Written by ForexBrokers.com
In this head to head comparison of LegacyFX vs IUX, 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.
LegacyFX has been operating since 2012 and holds a single Tier-1 license, indicating a high level of trust according to ForexBrokers.com. However, it is not publicly traded and does not operate as a bank. Its Trust Score is 67 out of 99, placing it in the high-risk category. Conversely, IUX, founded in 2016, holds no Tier-1 licenses but does have a Tier-2 license. It is similarly not listed on any stock exchange and isn't a bank, yet its Trust Score is slightly higher at 69, also categorizing it as high risk.
When considering these online brokers, both LegacyFX and IUX have room for improvement in terms of trust and regulatory oversight. LegacyFX's single Tier-1 license contrasts with IUX's Tier-2 licensing, reflecting their varied approach to regulation. Neither broker is publicly traded or operates as a bank, underscoring the importance of evaluating their trust ratings and regulatory status when deciding which broker might suit your trading needs.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Year Founded | 2012 | 2016 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 0 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing commissions and fees between LegacyFX and IUX, both brokers cater to different trading needs but differ considerably in their pricing structure. LegacyFX provides various account types depending on its regulatory body, offering three tiers under the EU's CySEC oversight and seven for international clients via its Vanuatu entity. EU residents face higher minimum deposit requirements, from $500 for a Silver account to $25,000 for a Platinum account, with spreads ranging from a relatively high 1.6 pips on EUR/USD for Silver to lower costs for Platinum users. For international traders, LegacyFX provides broader offerings, with accounts from Standard to VIP, demanding deposits ranging from $500 up to $50,000, with varying benefits in support and tool access.
In contrast, IUX presents a more straightforward pricing model, particularly appealing to those who prefer low-entry barriers and a choice between spread-only and commission-based accounts. Standard and Standard+ accounts require a mere $10 deposit, with the latter offering deposit bonuses at the expense of wider spreads. More active traders might opt for the Raw or Pro accounts, both needing a $500 minimum deposit. The Raw account features the tightest spreads from 0.6 pips, factoring in its $6 commission per lot, whereas the Pro account provides slightly higher spreads with no commissions.
In terms of broker ratings, IUX holds a slight edge with a 4-star rating for commissions and fees, compared to LegacyFX's 3.5 stars. Ranking among 63 brokers highlights IUX's competitive stance at #49, while LegacyFX lags at #57. Both brokers provide distinct benefits, but it's crucial to balance spreads, commissions, and deposit requirements when selecting the best option for your trading needs.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Minimum Deposit | $500 | 10 |
| Average Spread EUR/USD - Standard | N/A | 0.9 |
| All-in Cost EUR/USD - Active | N/A | 0.6 |
| Active Trader or VIP Discounts | Yes | 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.
LegacyFX and IUX both allow forex trading through CFDs or spot contracts, giving traders flexibility in how they approach the forex market. When it comes to the total number of tradable symbols, LegacyFX stands out with 425 options compared to IUX's 152. In terms of forex pairs specifically, LegacyFX still maintains a slight edge, offering 44 pairs against IUX's 34. However, both platforms fail to offer exchange-traded securities on U.S. markets, making it impossible to purchase individual stocks like Apple. Notably, IUX provides access to international exchanges, allowing investors to buy shares such as Vodafone, while LegacyFX does not.
Both platforms fall short in offering actual cryptocurrency purchases, but they do allow trading through cryptocurrency derivatives. LegacyFX sets itself apart by offering copy trading features, whereas IUX does not provide this service. Both brokers have the same rating for their range of investments, receiving 3.5 stars out of five. Despite this, LegacyFX is ranked higher in the category by ForexBrokers.com, coming in at #48, while IUX is ranked #60 out of 63 brokers. This makes LegacyFX a slightly more diverse option for those interested in a broader range of investment opportunities.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 425 | 152 |
| Forex Pairs (Total) | 44 | 34 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
LegacyFX and IUX both cater to traders with a variety of platforms designed for flexibility and ease. While LegacyFX does not offer its own proprietary platform, IUX boasts a unique in-house platform, providing a distinct experience tailored to its service. Both brokers support Windows-based desktop download platforms and offer web-based trading, ensuring traders have access from different devices. For those new to trading or looking to refine their strategies, each broker provides simulated paper trading, allowing users to practice without financial risk. However, for copy trading enthusiasts, LegacyFX is the go-to choice, as IUX does not offer this feature.
When it comes to advanced trading tools, both LegacyFX and IUX support the popular MetaTrader 5 platform. While neither offers MetaTrader 4, they meet professional standards by giving traders the ability to execute orders directly from stock charts. IUX, however, edges ahead with significantly more drawing tools and customizable watch list fields, offering 89 drawing tools and 46 watch list columns compared to LegacyFX's 15 tools and 7 fields. Despite these differences, both brokers share a 3.5-star rating for trading platforms and tools, ranking closely at #59 and #60 out of 63 brokers, according to ForexBrokers.com.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 106 |
| Charting - Drawing Tools (Total) | 15 | 89 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 46 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
LegacyFX and IUX both offer mobile trading apps for iPhone and Android users, providing a seamless experience for traders on the go. Both apps allow for the creation of watchlists with real-time quotes and have the ability to auto-save drawings on stock or forex charts, making them convenient options for active traders. Despite the similarities, a distinct edge for LegacyFX is its capability to provide stock or forex price alerts—a feature absent in the IUX app. Additionally, LegacyFX allows users to draw trendlines on charts, which is not an option with IUX.
In terms of technical analysis, IUX surpasses with 106 technical studies compared to LegacyFX's 30. Both apps offer multiple time frames for viewing charts, ensuring versatility for different trading strategies. However, neither app offers watchlist symbol syncing with online accounts, which can limit user experience. Despite scoring equally at 3.5 stars for their mobile trading apps, IUX ranks slightly higher at #60 compared to LegacyFX's #61 among 63 brokers listed by ForexBrokers.com in the Mobile Trading Apps category. This slight ranking difference suggests a marginal preference in user satisfaction or feature set.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 106 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
LegacyFX stands out as a strong choice for traders who value comprehensive market research tools. With daily market commentary, forex news from top-tier sources like Bloomberg and Reuters, and collaboration with Autochartist for technical analysis tools, LegacyFX ensures its users stay well-informed. Additionally, both LegacyFX and IUX provide an economic calendar that keeps traders updated on global economic events. However, while IUX offers these calendars, it lacks the daily comments and premium news resources, making LegacyFX a more enticing option for market-savvy traders looking for deeper insights.
When it comes to research ratings, LegacyFX has an edge with a 3.5-star score, placing it at rank #45 out of 63 brokers according to ForexBrokers.com. On the other hand, IUX receives a slightly lower rating of 3 stars, ranking it #59. Neither platform offers tools from Trading Central, sentiment-based trading insights, TipRanks, or Acuity Trading. Therefore, traders seeking varied research resources might find LegacyFX better catering to their needs, particularly for its inclusion of advanced analysis features and timely market updates.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners in forex and CFDs trading, LegacyFX stands out compared to IUX. LegacyFX provides extensive learning material such as more than ten educational articles, videos, and archived webinars focusing on forex and CFDs. They also offer monthly online webinars and maintain an accessible archive of these sessions. Furthermore, LegacyFX caters to different skill levels by offering over ten beginner and advanced educational videos. Additionally, they support learning with an investor dictionary that defines over 50 essential investing terms. These features contribute to their 3.5-star rating for education and rank of #35 out of 63 brokers by ForexBrokers.com.
In contrast, IUX offers a more limited range of educational resources. While they do provide at least ten beginner educational videos, they lack in other areas such as providing forex or CFDs-focused educational content, regular webinars, and a comprehensive investor dictionary. IUX falls short by not offering a searchable archive of client webinars or advanced educational videos, factors that contribute to their lower 3-star education rating and rank of #59 out of 63 brokers according to ForexBrokers.com. For beginners seeking a more comprehensive educational experience, LegacyFX presents a more resource-rich option than IUX.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that LegacyFX is better than IUX. LegacyFX finished with an overall rank of #62, while IUX finished with an overall rank of #63.
LegacyFX is a plain-vanilla MetaTrader 5 (MT5) broker that offers a medium range of CFD markets and forex pairs. It has built a good foundation of research offerings, and its investor education content is on par with the industry average. Overall, LegacyFX still has room to grow, and trails behind the best MetaTrader brokers.
| Feature |
LegacyFX
|
IUX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 67 | 69 |
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Both LegacyFX and IUX do not offer the option to purchase actual delivered cryptocurrencies, but they do provide the opportunity to trade cryptocurrency derivatives.
Both LegacyFX and IUX allow deposits and withdrawals through Skrill, Visa, Mastercard, and bank wire transfers, but neither offers ACH, SEPA, or PayPal options for account funding.
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 | LegacyFX | IUX | |
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| Trust Score | 67 | 69 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | LegacyFX | IUX | |
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| Regulation | LegacyFX | IUX | |
|---|---|---|---|
| Trust Score | 67 | 69 | |
| Year Founded | 2012 | 2016 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 1 | 0 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | LegacyFX | IUX | |
|---|---|---|---|
| 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) | No | No | |
| 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 | No |
| Tier-2 Licenses (Trusted) | LegacyFX | IUX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | LegacyFX | IUX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 425 | 152 | |
| Forex Pairs (Total) | 44 | 34 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| 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). |
| Cost | LegacyFX | IUX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | 0.6 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | LegacyFX | IUX | |
|---|---|---|---|
| Minimum Deposit | $500 | 10 | |
| 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 | LegacyFX | IUX | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | LegacyFX | IUX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 46 | |
| Charting - Indicators / Studies (Total) | 30 | 106 | |
| Charting - Drawing Tools (Total) | 15 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | LegacyFX | IUX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 106 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | LegacyFX | IUX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | LegacyFX | IUX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | LegacyFX | IUX | |
|---|---|---|---|
| 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 | LegacyFX Review |
| Overall | LegacyFX | IUX | |
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| Trust Score | 67 | 69 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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