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 comparing Markets.com and LegacyFX in terms of commissions and fees, potential traders might find that both brokers offer distinctive features that cater to different trading needs. Markets.com does not provide average spread data, which can make it challenging for traders to discern the total cost of trading with this platform. It has received a rating of 3.5 stars for commissions and fees and ranks #50 out of 63 brokers according to ForexBrokers.com.
Conversely, LegacyFX provides a more detailed structure of account types, especially depending on whether traders are opting for its EU entity, regulated by CySEC, or its international entity based in Vanuatu. For EU residents, LegacyFX offers Silver, Gold, and Platinum accounts with varying minimum deposits and spreads, ranging from as low as 1.6 pips on the EUR/USD for the Silver account. The Vanuatu entity offers seven account types with features like client support and access to trading tools differentiated by account type. Despite not providing average spreads, LegacyFX shares the same 3.5-star rating as Markets.com but is ranked slightly lower at #57 in the Commissions and Fees category by ForexBrokers.com.
| 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 cater to traders interested in forex and CFD trading, providing a variety of investment options. While both platforms offer forex trading as CFDs or spot contracts, Markets.com stands out with a significantly larger assortment of tradeable symbols, boasting 2179 compared to LegacyFX's 425. Forex enthusiasts will also find a broader selection of pairs on Markets.com, which offers 57, while LegacyFX provides access to 44 pairs. Despite this, neither broker offers direct access to exchange-traded U.S. or international securities, nor do they allow clients to purchase actual cryptocurrency. However, they both facilitate trading cryptocurrency derivatives.
Both platforms accommodate copy trading, yet Markets.com receives slightly higher praise, with a 4-star rating for its range of investments compared to LegacyFX’s 3.5 stars. Furthermore, when evaluated by ForexBrokers.com, Markets.com is ranked #29 out of 63 brokers for its investment range, outperforming LegacyFX, which is positioned at #48. This evaluation suggests that Markets.com may offer a slightly more diversified and expansive range of investment options, potentially appealing more to investors seeking variety in their trading ventures.
| 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 stand as notable players in the online trading space, offering a range of platforms and tools to cater to traders’ needs. Markets.com provides its proprietary platform, which is developed in-house, alongside support for popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). LegacyFX, while lacking a proprietary platform, supports MT5, offering a solid alternative to meet various trading preferences. Both brokers offer web-based and Windows-based desktop platforms, and each provides a free virtual demo account for simulated trading, making them accessible for beginners and experienced traders alike. Additionally, they offer copy trading options, although neither supports DupliTrade or ZuluTrade integrations.
Charting tools and customization options differ between the two. Markets.com gives access to a smaller range of drawing tools compared to LegacyFX's more extensive offering of 15 tools. However, LegacyFX takes the lead in functionality by allowing trades directly from stock charts, a feature absent in Markets.com's offerings. In terms of user interface details like watch lists, LegacyFX provides slightly more depth with seven fields for columns compared to Markets.com's six. With these features and tools carefully designed for the user experience, Markets.com secures a higher rating of 4 out of 5 stars for its trading platforms and tools, compared to LegacyFX's 3.5 stars. Markets.com is also ranked higher by ForexBrokers.com, holding the 27th position out of 63 brokers, while LegacyFX ranks 60th.
| 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.
Markets.com and LegacyFX both offer iPhone and Android apps, catering to traders on the go. For price alerts, both platforms ensure users are promptly informed of stock or forex changes. However, Markets.com stands out with synchronized watchlist capabilities, offering seamless updates between its mobile app and online account. In contrast, LegacyFX lacks this feature but compensates with 30 technical studies for chart analysis, a notable offering over Markets.com's default MT4 options. Both brokers allow traders to draw trendlines, but only LegacyFX provides dynamic views across multiple time frames, along with auto-saving chart drawings, enhancing user convenience.
When it comes to creating a watchlist with real-time quotes, both Markets.com and LegacyFX deliver this functionality. User ratings favor Markets.com, earning 4 stars compared to LegacyFX's 3.5 stars for mobile trading. Additionally, in a competitive field of 63 brokers, Markets.com ranks at #33 for its mobile trading apps, successfully outperforming LegacyFX, which positions at #61. Overall, Markets.com seems to offer a slightly more cohesive mobile trading experience, especially for those requiring synced watchlists and higher app ratings.
| 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.
When it comes to market research, both Markets.com and LegacyFX offer a variety of resources to help traders stay informed. Both platforms provide daily market commentary and forex news from reputable sources like Bloomberg and Reuters, ensuring users are up-to-date with global financial events. While neither broker provides tools from Trading Central or research from Acuity Trading and TipRanks, Markets.com stands out with a sentiment-based trading tool, allowing traders to see the ratio of long or short positions across currency pairs. This feature is absent at LegacyFX, which may influence traders who value sentiment analysis in their strategy.
Both brokers offer an economic calendar, helping traders to track upcoming global news events. However, LegacyFX has the edge over Markets.com in offering technical analysis tools from Autochartist, which can be a valuable asset for advancing trading strategies. Despite this, Markets.com receives a higher research rating with four out of five stars, ranking #17 out of 63 brokers by ForexBrokers.com in the Research category. In comparison, LegacyFX is rated 3.5 stars, ranking at #46. This difference indicates that while both brokers provide substantial research resources, Markets.com's offerings may better support traders in making informed decisions.
| 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 educational resources for beginners, Markets.com and LegacyFX both present some attractive features, though they also have distinct areas where they shine. Markets.com offers a solid collection of beginner and advanced educational videos covering various trading topics. They also host regular online webinars to keep clients informed, but unfortunately, they do not provide a library of past sessions for on-demand learning. LegacyFX, on the other hand, matches Markets.com with its beginner and advanced video content and monthly webinars. The added convenience at LegacyFX is a searchable archive of recorded webinars, allowing learners to revisit sessions at their convenience. Additionally, LegacyFX impresses with an investor dictionary containing over 50 investing terms, a resource that Markets.com does not offer.
While both brokers provide valuable educational content, Markets.com edges out slightly in rankings with a higher rating of 4 stars and a 34th place ranking by ForexBrokers.com compared to LegacyFX's 3.5-star rating and 35th position. Despite the higher overall rating for Markets.com, LegacyFX stands out with its comprehensive educational resources for those new to forex and CFDs. Beginners in online trading could benefit from LegacyFX’s searchable webinar archive and extensive investor dictionary, while those looking for a straightforward video learning approach might find Markets.com more aligned with their preferences.
| 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 63 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 #63.
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
|
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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