Written by ForexBrokers.com
In this head to head comparison of Moneta Markets 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.
Moneta Markets, established in 2009, is an online broker that, although not publicly traded or a bank, holds a Tier-2 license considered trusted by ForexBrokers.com. With a Trust Score of 71 out of 99, Moneta Markets is rated as average risk. This places it in a position where it is neither considered the most trusted nor the riskiest option, which might appeal to those seeking a balanced choice in online trading platforms.
LegacyFX, founded in 2012, holds a Tier-1 license, signaling a higher level of trust according to ForexBrokers.com metrics. Despite not being publicly traded or a bank, its Trust Score is 67, categorizing it as a higher-risk broker compared to Moneta Markets. This distinction gives potential investors a clear comparison, highlighting Moneta Markets as having a slightly better risk rating while recognizing LegacyFX's strong regulatory credentials with its Tier-1 license.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2009 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 0 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When considering Moneta Markets for your trading needs, you’ll find they offer three distinct account options that cater to different trading styles. The Moneta Prime ECN and Ultra ECN accounts are based on commissions, while the Direct STP account is commission-free. For traders interested in the Direct STP account, expect an average spread of 1.38 pips on the EUR/USD pair, which can translate to higher costs compared to the Prime ECN account. On the other hand, the Ultra ECN account offers competitive tighter spreads at a commission of $2 per round-turn lot, although it demands a $20,000 deposit. Overall, Moneta Markets achieves a commendable rating of 4.5 stars and is ranked #16 in the Commissions and Fees category by ForexBrokers.com.
LegacyFX provides a varying range of account types depending on your location, offering different trading conditions within its EU-regulated and international entities. For EU residents, options include Silver, Gold, and Platinum accounts, with a minimum deposit starting at $500. The Platinum account boasts the lowest advertised spreads, while the Silver account has higher trading costs starting at 1.6 pips on the EUR/USD pair. International clients can select from seven account types like Standard, Bronze, and VIP, each with differing client support and access to trading tools. However, detailed average spread data remains unavailable for LegacyFX, resulting in an overall rating of 3.5 stars and a #57 ranking for Commissions and Fees by ForexBrokers.com.
Choosing between Moneta Markets and LegacyFX largely depends on your trading priorities. If competitive spreads and commissions are your primary concern, Moneta Markets may be more appealing, especially with its Ultra ECN account, though it requires a significant deposit. LegacyFX provides more account options, especially for international clients, but the lack of clear average spreads could be a drawback for those seeking precise cost evaluations. Moneta Markets maintains a stronger position in the industry with its higher rating and better ranking in the Commissions and Fees category compared to LegacyFX.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $50 | $500 |
| Average Spread EUR/USD - Standard | 1.38 | N/A |
| All-in Cost EUR/USD - Active | 0.79 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Moneta Markets and LegacyFX both provide online trading options with some key differences in their range of investments. Moneta Markets offers a larger selection, with 1016 tradeable symbols compared to LegacyFX's 425. When it comes to forex trading, both brokers provide access via Contracts for Difference (CFD), with Moneta Markets offering 45 forex pairs and LegacyFX offering 44. Neither broker provides direct access to exchange-traded securities on U.S. or international exchanges, which means traders cannot directly purchase stocks like Apple or Vodafone through them. Both platforms accommodate copy trading, allowing users to replicate the trades of experienced investors.
In the realm of cryptocurrencies, neither Moneta Markets nor LegacyFX offers the ability to buy actual cryptocurrencies; however, they both provide the opportunity to trade cryptocurrency derivatives. Evaluating their range of investments, Moneta Markets receives a slightly higher rating of 4 stars, whereas LegacyFX earns 3.5 stars. According to ForexBrokers.com, Moneta Markets is ranked 35th out of 63 brokers, a higher placement than LegacyFX, which stands at 48th. These rankings highlight Moneta Markets as the more favorable choice between the two for those prioritizing a broader range of trading symbols and forex pairs.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1016 | 425 |
| Forex Pairs (Total) | 45 | 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.
Moneta Markets and LegacyFX both offer essential trading tools and platforms to accommodate traders at different levels of expertise. Both brokers provide free virtual demo accounts, making it easy for traders to practice their strategies without financial risk. While neither broker offers an in-house developed trading platform, they both supply a Windows-based desktop download and a web-based browser trading platform. However, Moneta Markets supports the popular MetaTrader 4 (MT4) along with MetaTrader 5 (MT5), whereas LegacyFX only offers MetaTrader 5. Traders interested in copy trading will find both brokers accommodating, although Moneta Markets extends its edge with the inclusion of DupliTrade, which LegacyFX does not offer.
Charting tools vary significantly between the two, with Moneta Markets providing an impressive 78 drawing tools compared to LegacyFX's 15. While both brokers allow trading directly from stock charts, Moneta Markets also delivers four customizable columns for watch lists, slightly less than LegacyFX, which offers seven. Despite these differences, Moneta Markets holds a slight advantage with a rating of 4 out of 5 stars for Trading Platforms and Tools compared to LegacyFX's 3.5 stars. This is further reflected in their rankings by ForexBrokers.com, where Moneta Markets is positioned at #33 out of 63 brokers, while LegacyFX is ranked #60, highlighting a notable preference toward Moneta Markets for trading platform capabilities.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 105 | 30 |
| Charting - Drawing Tools (Total) | 78 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 4 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Moneta Markets and LegacyFX, both platforms cater to iPhone and Android users, providing essential services such as stock and forex price alerts. They equally excel in delivering 30 technical studies for charting and offer users the ability to draw trendlines and view multiple time frames on stock or forex charts. However, Moneta Markets stands out by allowing users to sync their watchlist symbols between the mobile app and the online account, a feature that LegacyFX currently lacks.
Both Moneta Markets and LegacyFX support creating watchlists with real-time quotes and automatically saving chart drawings, ensuring a seamless trading experience. However, Moneta Markets enjoys a higher user rating, scoring 4 stars compared to LegacyFX's 3.5 stars. According to ForexBrokers.com, Moneta Markets is ranked 35th in the Mobile Trading Apps category, significantly ahead of LegacyFX, which sits at 61st out of 63 brokers. This difference might explain the appeal of Moneta Markets for traders seeking a more seamless mobile trading experience.
| Feature |
Moneta Markets
|
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 | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When considering Moneta Markets and LegacyFX for market research, both offer daily market commentary and provide access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. However, Moneta Markets excels by offering tools from Trading Central and a sentiment-based trading tool, which reveals the ratio of long or short positions across various instruments. LegacyFX, on the other hand, provides research tools from Autochartist, catering to traders who prioritize technical analysis. Both brokers supply an economic calendar to keep traders informed about global news events, but neither offers market research tools from TipRanks or Acuity Trading.
Moneta Markets slightly edges ahead in market research offerings, boasting a 4-star rating compared to LegacyFX's 3.5 stars. According to ForexBrokers.com, Moneta Markets is ranked 32nd out of 63 brokers, whereas LegacyFX is positioned at 46th in the research category. These rankings reflect Moneta Markets' broader array of research tools, making it a preferable choice for research-driven traders who value access to comprehensive market insights.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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.
Moneta Markets and LegacyFX both cater to beginner traders with a collection of over ten educational resources focused on forex and CFDs, which include articles, videos, and archived webinars. However, a key distinction lies in the delivery of live educational experiences; LegacyFX provides clients with a monthly live webinar, an offering absent at Moneta Markets. Both brokers maintain searchable archives of past webinars, ensuring beginners have access to a wide range of learning materials at their convenience.
In terms of video content, Moneta Markets and LegacyFX offer extensive libraries tailored to both newcomers and more advanced traders, with over ten beginner and advanced videos each. Additionally, both brokers provide an investor dictionary featuring over 50 investing terms, supporting traders in understanding complex terminology. Despite these similarities in resources, Moneta Markets edges ahead with a slightly higher educational rating of 4 stars compared to LegacyFX's 3.5 stars, and is ranked #33 out of 63 brokers in the education category by ForexBrokers.com, while LegacyFX sits close behind at #35.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Moneta Markets is better than LegacyFX. Moneta Markets finished with an overall rank of #35, while LegacyFX finished with an overall rank of #63.
Moneta Markets is a new brand under parent company Vantage Group, which offers traders the MetaTrader suite of platforms as well as a basic web and mobile app. While it does support a decent range of third-party features, Moneta Markets has lackluster research and educational offerings, and its pricing is average.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 67 |
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Both Moneta Markets and LegacyFX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the capability to invest in cryptocurrency derivatives.
When comparing the online brokers Moneta Markets and LegacyFX, neither offers ACH or SEPA transfers or PayPal for depositing or withdrawing funds, while LegacyFX provides Skrill as an option, and both brokers accept Visa, Mastercard, and bank wire transfers.
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 | Moneta Markets | LegacyFX | |
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| Trust Score | 71 | 67 | |
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| Review | Moneta Markets Review | LegacyFX Review |
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| Regulation | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 71 | 67 | |
| Year Founded | 2009 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 0 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Moneta Markets | 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). | No | Yes |
| Tier-2 Licenses (Trusted) | Moneta Markets | 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 | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1016 | 425 | |
| Forex Pairs (Total) | 45 | 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 | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.38 | N/A | |
| All-in Cost EUR/USD - Active | 0.79 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $500 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 4 | 7 | |
| Charting - Indicators / Studies (Total) | 105 | 30 | |
| Charting - Drawing Tools (Total) | 78 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Moneta Markets | 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 | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Moneta Markets | 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 | Moneta Markets Review | LegacyFX Review |
| Overall | Moneta Markets | LegacyFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | Moneta Markets Review | LegacyFX Review |
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