Written by ForexBrokers.com
In this head to head comparison of Libertex (Forex Club) 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.
Founded in 1997, Libertex (Forex Club) stands as a seasoned player in the online brokerage sector. It is not publicly traded and does not operate as a bank. Libertex holds one Tier-1 license, recognized for its high level of trust, and maintains a Trust Score rating of 73 out of 99, categorizing it as an average risk broker according to ForexBrokers.com standards. This score suggests a moderate level of trust among traders, offering a reliable platform for forex trading.
In comparison, LegacyFX, established in 2012, also refrains from being listed on a stock exchange or functioning as a bank. Like Libertex, it holds one Tier-1 license, symbolizing a similar trust factor in terms of regulatory oversight. Nevertheless, LegacyFX holds a ForexBrokers.com Trust Score rating of 67 out of 99, classifying it as a high-risk broker. This rating indicates a slightly lower confidence level compared to Libertex, suggesting traders should weigh their options carefully when considering LegacyFX for their trading needs.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Year Founded | 1997 | 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 | 0 | 1 |
When comparing online brokers, Libertex (Forex Club) and LegacyFX present distinct offerings regarding commissions and fees. Libertex, rated three out of five stars, lacks average spread data, which hinders a complete assessment of trading costs. As per ForexBrokers.com, it ranks #62 out of 63 brokers for commissions and fees.
LegacyFX, with a higher rating of 3.5 stars, offers a variety of account types that impact trading costs. In its EU entity, LegacyFX provides Silver, Gold, and Platinum accounts with minimum deposits of $500, $5,000, and $25,000, respectively. Platinum accounts enjoy the lowest advertised spreads, while Silver accounts face high trading costs, with minimum spreads as high as 1.6 pips on EUR/USD. The Vanuatu entity serves international clients through seven account types, ranging from Standard to VIP, requiring minimum deposits from $500 to $50,000. LegacyFX earns the #57 spot among 63 brokers for commissions and fees.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $10 | $500 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Libertex (Forex Club) and LegacyFX, both platforms provide a variety of investment options tailored to the needs of their users. Both offer forex trading as CFDs, with Libertex providing access to 300 tradable symbols and 51 forex pairs. In contrast, LegacyFX offers a broader selection with 425 tradable symbols but slightly fewer forex pairs at 44. While neither platform offers the opportunity to invest in exchange-traded securities on U.S. or international exchanges, they both support copy trading and the trading of cryptocurrency derivatives. However, clients cannot purchase actual cryptocurrencies outright on either platform.
Given their offerings, both brokers receive a 3.5-star rating in the Range of Investments category. Considering the breadth of tradable symbols, LegacyFX has a slight edge, ranking 48th out of 63 brokers according to ForexBrokers.com, while Libertex ranks 53rd. This distinction highlights LegacyFX's relatively more extensive range, although both brokers present viable choices for potential investors seeking diverse investment vehicles.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 425 |
| Forex Pairs (Total) | 51 | 44 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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.
When comparing the trading platforms and tools of Libertex (Forex Club) and LegacyFX, several key differences stand out. Both brokers offer simulated trading with a virtual demo account, which is great for beginners wishing to practice without financial risk. However, while Libertex features a proprietary platform developed in-house, LegacyFX does not offer such a specialized option. Both brokers provide Windows-based desktop platforms and web-based trading options, but Libertex supports MetaTrader 4 (MT4) while LegacyFX does not. Conversely, LegacyFX caters to traders using MetaTrader 5 (MT5), which Libertex does not support. Both brokers facilitate trading directly from stock charts, although Libertex offers double the drawing tools compared to LegacyFX.
For investors interested in copy trading, both Libertex and LegacyFX have this option available, though neither supports DupliTrade or ZuluTrade. When it comes to charting, each broker offers 7 fields for watch lists, making them equally robust in this respect. In terms of user ratings, Libertex receives 4 stars for trading platforms and tools, slightly edging out LegacyFX, which has a 3.5-star rating. According to ForexBrokers.com, Libertex ranks #50 out of 63 brokers in this category, while LegacyFX is placed at #60. This suggests that while both brokers offer solid trading tools, Libertex may provide a bit more satisfaction based on customer feedback and available features.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Libertex (Forex Club) and LegacyFX offer options for iPhone and Android users, ensuring accessibility across popular mobile devices. Each platform provides features like stock and forex price alerts, and the ability to draw trendlines and view multiple time frames on charts. Both apps also support the creation of watchlists with real-time quotes, enhancing the user experience for traders on the move. However, when it comes to syncing watchlists, Libertex stands out by allowing changes made on the mobile app to sync with the online account, a feature LegacyFX does not offer.
Charting capabilities on both apps include 30 technical studies, though Libertex does not auto-save drawings on charts, unlike LegacyFX. This could affect traders who regularly annotate their charts. User ratings reflect these differences; Libertex scores a respectable 4 stars compared to LegacyFX’s 3.5. ForexBrokers.com ranks Libertex higher in the Mobile Trading Apps category at #49, compared to LegacyFX's #61, suggesting that while both apps offer solid features, Libertex might provide a slightly more integrated experience for mobile traders.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Libertex (Forex Club) and LegacyFX, there are several key differences and similarities that prospective users should consider. Both platforms provide forex news from renowned sources like Bloomberg and Reuters, ensuring users have access to reputable news flows. Additionally, each platform offers an economic calendar, helping traders keep track of significant global events. However, only LegacyFX delivers daily market commentary and integrates research tools from Autochartist, equipping traders with additional insights into market trends and patterns.
Despite these offerings, neither Libertex (Forex Club) nor LegacyFX utilizes tools from Acuity Trading or offers sentiment-based trading tools. LegacyFX edges out Libertex slightly in overall research ratings, earning 3.5 out of 5 stars compared to Libertex's 3 stars. In the detailed rankings by ForexBrokers.com, LegacyFX ranks notably higher at #46 out of 63 brokers, while Libertex trails at #61. These distinctions highlight LegacyFX's dedication to providing a more comprehensive research experience, making it a stronger choice for those prioritizing in-depth market analysis tools and commentary.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| 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 comparing the educational resources available for beginners at Libertex (Forex Club) and LegacyFX, both online brokers offer a minimum of 10 educational materials focused on forex or CFDs, which could include articles, videos, and archived webinars. However, LegacyFX stands out by providing monthly online educational client webinars and a searchable archive of these recorded sessions, while Libertex does not offer such features. This makes LegacyFX a more dynamic choice for those who value interactive and live learning opportunities.
LegacyFX also caters to beginners with a library of at least 10 introductory educational videos, providing a solid foundation for novice traders. In contrast, Libertex focuses more on advanced traders, offering several in-depth video resources for experienced investors. Furthermore, LegacyFX includes an investor dictionary containing definitions of over 50 trading terms, an asset not available with Libertex. Such comprehensive offerings contribute to LegacyFX's slightly higher educational rating of 3.5 stars compared to Libertex's 3 stars, with ForexBrokers.com ranking them #35 and #57 out of 63 brokers, respectively.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Libertex (Forex Club) is better than LegacyFX. Libertex (Forex Club) finished with an overall rank of #61, while LegacyFX finished with an overall rank of #63.
Forex Club is a long-standing MetaTrader broker offering forex and CFDs, along it's more recently launched Libertex brand catering to the EU market with a proprietary web platform. The biggest issue with Libertex (Forex Club) is the few regulatory licenses it holds, which bring down its Trust Score, compared to the most trusted brokers.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 73 | 67 |
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Both Libertex (Forex Club) and LegacyFX do not offer the ability to buy actual (delivered) cryptocurrencies, but they both provide the opportunity to trade cryptocurrency derivatives.
When comparing online brokers, Libertex (Forex Club) provides more versatile transaction options, offering ACH, SEPA transfers, PayPal, Skrill, and bank wire services but not Visa or Mastercard, while LegacyFX supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options.
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 | Libertex (Forex Club) | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | Libertex (Forex Club) | LegacyFX | |
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| Regulation | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Trust Score | 73 | 67 | |
| Year Founded | 1997 | 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 | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Libertex (Forex Club) | 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) | 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 | Yes |
| Tier-2 Licenses (Trusted) | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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) | No | No |
| Investments | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 300 | 425 | |
| Forex Pairs (Total) | 51 | 44 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $10 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Libertex (Forex Club) | 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 | LegacyFX Review |
| Overall | Libertex (Forex Club) | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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