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Libertex (Forex Club) vs LegacyFX 2024

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Written by ForexBrokers.com

August 05, 2024

Is Libertex (Forex Club) better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Libertex (Forex Club) is considered Average Risk, with an overall Trust Score of 73 out of 99. LegacyFX is considered High Risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Libertex (Forex Club) LegacyFX
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 3/5 Stars 3.5/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3/5 Stars 3.5/5 Stars
Education 3/5 Stars 3.5/5 Stars
Trust Score info 73 67
Winner check_circle
Review LegacyFX Review
Broker Screenshots Libertex (Forex Club) LegacyFX
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Libertex (Forex Club) LegacyFX
Trust Score info 73 67
Year Founded info 1997 2012
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 1 1
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) Libertex (Forex Club) LegacyFX
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No 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) Libertex (Forex Club) LegacyFX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Libertex (Forex Club) LegacyFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 300 425
Forex Pairs (Total) info 51 44
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) 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 Libertex (Forex Club) LegacyFX
Average Spread EUR/USD - Standard info N/A info N/A
All-in Cost EUR/USD - Active info N/A info N/A
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No No
Execution: Agency Broker info No No
Execution: Market Maker info Yes Yes
Funding Libertex (Forex Club) LegacyFX
Minimum Deposit info $10 $500
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms Libertex (Forex Club) LegacyFX
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Libertex (Forex Club) LegacyFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 15 30
Charting - Drawing Tools (Total) info 30 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Libertex (Forex Club) LegacyFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Mobile Economic Calendar info Yes Yes
Research Libertex (Forex Club) LegacyFX
Daily Market Commentary info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education Libertex (Forex Club) LegacyFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info No Yes
Client Webinars (Archived) info No Yes
Videos - Beginner Trading Videos info No Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info No Yes
Major Forex Pairs Libertex (Forex Club) LegacyFX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review LegacyFX Review
Overall Libertex (Forex Club) LegacyFX
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 3/5 Stars 3.5/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3/5 Stars 3.5/5 Stars
Education 3/5 Stars 3.5/5 Stars
Trust Score info 73 67
Winner check_circle
Review LegacyFX Review
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Libertex (Forex Club) vs LegacyFX Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Libertex (Forex Club) vs LegacyFX.

Can I trust Libertex (Forex Club)?

Libertex (Forex Club) is not publicly traded and does not operate a bank. Libertex (Forex Club) is authorised by one Tier-1 regulator (Highly Trusted), zero tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). Libertex (Forex Club) is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

Can I trust LegacyFX?

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). LegacyFX is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

Is Libertex (Forex Club) good?

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.

Is LegacyFX good?

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.

What is the minimum deposit requirement for opening an account with Libertex (Forex Club)?

To open a trading account with Libertex (Forex Club), you'll need to make an initial minimum deposit of $10.

What is the minimum deposit requirement for opening an account with LegacyFX?

LegacyFX requires a minimum deposit of $500 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Libertex (Forex Club) offers Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas LegacyFX provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does Libertex (Forex Club) or LegacyFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that LegacyFX offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is Libertex (Forex Club) or LegacyFX safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both Libertex (Forex Club) and LegacyFX hold 1 global Tier-1 licenses. Both Libertex (Forex Club) and LegacyFX hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Libertex (Forex Club) (73) earned a higher Trust Score than LegacyFX (67).

Which trading platform is better: Libertex (Forex Club) or LegacyFX?

To compare the trading platforms of both Libertex (Forex Club) and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Libertex (Forex Club) offers a better experience. With research, LegacyFX offers superior market research. Finally, we found Libertex (Forex Club) to provide better mobile trading apps.

Here’s what trading platforms are available at Libertex (Forex Club):

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

Here’s what trading platforms are available at LegacyFX:

  • Proprietary Platform - No
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Libertex (Forex Club) offers MetaTrader 4 (MT4), while LegacyFX does not. Forex traders also appreciate the ability to engage in social copy trading. Libertex (Forex Club) and LegacyFX both offer copy trading.

What can I trade with each broker?

Libertex (Forex Club) provides traders 51 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. If you are interested in trading a full range of securities, LegacyFX offers traders access to 425 tradeable symbols, while Libertex (Forex Club) offers access to 300 tradeable symbols; so LegacyFX offers 125 more tradeable symbols than Libertex (Forex Club).

We found in our testing that LegacyFX offers a more diverse selection of investment options than Libertex (Forex Club), allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.

Overall winner: Libertex (Forex Club)

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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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