Written by ForexBrokers.com
In this head to head comparison of Markets.com 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.
Markets.com and LegacyFX offer online trading services, but there's a distinct difference in their trust ratings and regulatory standing. Established in 1999, Markets.com is a more seasoned broker with a strong trust rating of 93 out of 99 according to ForexBrokers.com, which is considered highly trusted. It holds three Tier-1 licenses and one Tier-2 license, indicating a firm regulatory foundation. On the other hand, LegacyFX, founded in 2012, has a trust score of 67, placing it in the high-risk category. It holds one Tier-1 license but lacks Tier-2 licenses, which reflects its comparatively less extensive regulatory coverage.
Neither Markets.com nor LegacyFX is publicly traded or operates as a bank. While both brokers are committed to offering online trading services, Markets.com stands out with its higher trust rating and broader regulatory credentials. Investors seeking reassurance in terms of regulation and trust may find Markets.com more appealing, given its long-standing presence in the industry and robust licensing portfolio. On the contrary, while LegacyFX provides trading services, potential users should be mindful of its trust score and regulatory details when making investment decisions.
| Feature |
Markets.com
|
LegacyFX
|
|---|---|---|
| Year Founded | 1999 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When it comes to comparing the online brokers Markets.com and LegacyFX based on commissions and fees, both brokers have their unique offerings, though their ratings reflect similar standing. Markets.com earns a 3.5-star rating for its commission and fee structure. However, specific average spread data for Markets.com is not available, making it challenging to determine exact trading costs. In the ForexBrokers.com rankings for the Commissions and Fees category, Markets.com is positioned at #49 out of 62 brokers.
LegacyFX also holds a 3.5-star rating and ranks slightly lower in the category at #56 out of 62 brokers. The commission and fee structure of LegacyFX varies depending on whether traders choose the EU entity regulated by CySEC or the international entity in Vanuatu. Despite offering multiple account types, average spread data is notably absent, which can make it difficult to gauge the precise cost of trading with LegacyFX. For EU residents, account types like Silver, Gold, and Platinum have progressive minimum deposits of $500, $5,000, and $25,000 respectively, with the Platinum account offering the most competitive spreads.
For international clients using LegacyFX's Vanuatu entity, a wider range of seven account types is available, starting with the Standard account requiring a $500 minimum deposit and scaling up to a VIP account with a $50,000 minimum deposit. These accounts provide varying levels of client support and access to trading tools, with trading costs heavily influenced by the type of account chosen.
| Feature |
Markets.com
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $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 | 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.
Markets.com and LegacyFX both provide attractive options for forex trading through CFDs or spot contracts, catering to those interested in currency trading. Markets.com stands out with a larger selection, offering a total of 2,179 tradeable symbols compared to LegacyFX's 425. Additionally, Markets.com offers more forex pairs, with 57 available options, whereas LegacyFX provides access to 44 forex pairs. While neither platform allows the purchase of exchange-traded securities, both brokers do facilitate cryptocurrency derivatives, although they do not offer direct cryptocurrency purchases.
Copy trading is supported on both platforms, allowing users to mimic the trades of experienced investors. When it comes to range of investments, Markets.com earns a 4-star rating, with a rank of #29 out of 62 brokers according to ForexBrokers.com. LegacyFX, in contrast, is rated at 3.5 stars and ranked #48. This information may guide potential investors in choosing a broker that aligns with their needs and preferences.
| Feature |
Markets.com
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2179 | 425 |
| Forex Pairs (Total) | 57 | 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.
Markets.com and LegacyFX both provide simulated trading through free virtual demo accounts, allowing new traders to practice without financial risk. While Markets.com boasts a proprietary trading platform as part of its offerings, LegacyFX does not, although both brokers do provide a Windows-based desktop download platform and web-based trading platforms. Additionally, MetaTrader 5 is available on both platforms, but only Markets.com offers the widely used MetaTrader 4. Both brokers support copy trading, but duplicate and social trading options like DupliTrade and ZuluTrade are not available on either platform.
When it comes to charting and analytical tools, Markets.com offers four drawing tools and six columns for watch lists, while LegacyFX supplies more versatility with 15 drawing tools and seven watch list columns. Furthermore, only LegacyFX supports the capability to trade directly from stock charts. Although Markets.com scores higher with a 4-star rating compared to LegacyFX's 3.5 stars for trading platforms and tools, the distinction is affirmed by ForexBrokers.com's rankings, with Markets.com positioned at #27 and LegacyFX trailing at #59 among 62 brokers.
| Feature |
Markets.com
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 89 | 30 |
| Charting - Drawing Tools (Total) | 4 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Markets.com and LegacyFX provide mobile trading apps available for iPhone and Android users, catering to those who wish to trade on the go. When it comes to features like stock or forex price alerts, both platforms are well-matched and user-friendly. However, they diverge when it comes to watchlist synchronization. Markets.com offers seamless syncing of watchlists across devices, a feature absent on LegacyFX. This makes it easier for users to stay updated with their favorite stocks or forex pairs across different platforms. Additionally, when it comes to charting tools, while LegacyFX provides a wider range of technical studies with 30 options, Markets.com's app lacks some of these advanced tools.
In terms of functionality, both apps allow you to draw trendlines and have real-time quotes in personalized watchlists. However, LegacyFX stands out by enabling users to view charts in multiple time frames and auto-saving drawings, both of which are not available on Markets.com. Despite these differences, user experience ratings tell an intriguing story. Markets.com edges out with a slightly higher rating of four stars compared to LegacyFX's 3.5 stars for their mobile apps. Moreover, Markets.com holds a more favorable rank at #33, while LegacyFX is positioned at #60 according to ForexBrokers.com, suggesting a preference among traders for Markets.com in overall mobile trading app performance.
| Feature |
Markets.com
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | (default on MT4, none on Markets app) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Markets.com and LegacyFX both offer daily market commentary and access to forex news from top-tier sources such as Bloomberg and Reuters. This ensures that traders using either platform have timely and reliable insights to base their trading decisions on. While both brokers provide an economic calendar to track global news events, their offerings diverge in certain research tools. For instance, LegacyFX stands out with its technical analysis tools from Autochartist, which are not available with Markets.com. However, Markets.com provides a sentiment-based trading tool that helps traders understand long or short positions across various instruments, a feature LegacyFX lacks.
In terms of research ratings, Markets.com holds a slightly higher position with a 4-star rating, compared to LegacyFX's 3.5 stars, according to ForexBrokers.com. Furthermore, in a comparison of 62 brokers, Markets.com is ranked 17th, while LegacyFX is positioned at number 45. These rankings reflect Markets.com's stronger overall research capabilities, which could be a deciding factor for traders focused on leveraging extensive market analysis and sentiment tools to inform their strategies. Despite these differences, both platforms offer substantial resources for informed trading.
| Feature |
Markets.com
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | 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 catering to beginners with educational resources, Markets.com and LegacyFX both bring valuable elements to the table but differ in specific offerings. Markets.com excels in hosting monthly online webinars and providing at least ten beginner-friendly educational videos, as well as advanced videos for traders with more experience. However, it falls short by not offering a substantial collection of articles or recorded webinars focused on forex or CFDs, nor does it provide an investor dictionary with many financial terms. Despite these gaps, Markets.com earns a solid 4-star rating in education.
LegacyFX, on the other hand, offers a more comprehensive suite of educational resources, including over ten articles, videos, or webinars focused specifically on forex and CFDs. Like Markets.com, LegacyFX also provides monthly educational webinars and a robust catalog of both beginner and advanced videos. Additionally, LegacyFX stands out with a searchable archive of past webinars and an investor dictionary of over 50 investing terms. This depth of content, however, results in a slightly lower education rating of 3.5 stars. Even though LegacyFX ranks one position lower than Markets.com in educational resources among brokers, beginners can find value in its diverse offerings.
| Feature |
Markets.com
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Markets.com is better than LegacyFX. Markets.com finished with an overall rank of #23, while LegacyFX finished with an overall rank of #62.
Thanks to its web-based MarketsX platform, Markets.com is easy to use and new trader friendly. However, Markets.com is pricey and lacks the feature-rich trading tools required to compete with the best trading platforms.
| Feature |
Markets.com
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 67 |
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Both Markets.com and LegacyFX provide options for trading cryptocurrency derivatives, though neither platform allows for the purchase of actual, delivered cryptocurrency.
Both Markets.com and LegacyFX do not support ACH or SEPA transfers or PayPal for funding or withdrawing from accounts, but both platforms offer deposit and withdrawal options through Skrill, Visa or Mastercard, and bank wires.
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 | Markets.com | LegacyFX | |
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| Trust Score | 93 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | Markets.com | LegacyFX | |
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| Regulation | Markets.com | LegacyFX | |
|---|---|---|---|
| Trust Score | 93 | 67 | |
| Year Founded | 1999 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Markets.com | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | Markets.com | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Markets.com | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2179 | 425 | |
| Forex Pairs (Total) | 57 | 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 | Markets.com | 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 | Markets.com | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $500 | |
| 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 | Markets.com | 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) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Markets.com | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 89 | 30 | |
| Charting - Drawing Tools (Total) | 4 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Markets.com | 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 | (default on MT4, none on Markets app) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Markets.com | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Markets.com | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Markets.com | LegacyFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | No | Yes | |
| AUD/USD | Yes | Yes | |
| Review | LegacyFX Review |
| Overall | Markets.com | LegacyFX | |
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| Trust Score | 93 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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