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Moneta Markets vs LegacyFX 2024

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Written by ForexBrokers.com

August 29, 2023

Is Moneta Markets better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Moneta Markets is considered Average-Risk, with an overall Trust Score of 72 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 Moneta Markets LegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 72 67
Winner check_circle
Review Moneta Markets Review LegacyFX Review
Broker Screenshots Moneta Markets 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 Moneta Markets LegacyFX
Trust Score info 72 67
Year Founded info 2009 2012
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info No info Yes info
Tier-1 Licenses info 1 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1
Tier-1 Licenses (Highly Trusted) Moneta Markets LegacyFX
Australia (ASIC Authorised) info Yes 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 No info Yes info
Tier-2 Licenses (Trusted) Moneta Markets LegacyFX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info Yes No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Moneta Markets LegacyFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1016 425
Forex Pairs (Total) info 54 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 Moneta Markets LegacyFX
Average Spread EUR/USD - Standard info 1.38 info N/A
All-in Cost EUR/USD - Active info 0.79 info N/A
Active Trader or VIP Discounts info No Yes
Inactivity Fee info No No
Execution: Agency Broker info No No
Execution: Market Maker info Yes Yes
Funding Moneta Markets LegacyFX
Minimum Deposit info $50 $500
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info No No
Trading Platforms Moneta Markets LegacyFX
Proprietary Platform info No 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 Yes Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info Yes No
Trading Tools Moneta Markets LegacyFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 4 7
Charting - Indicators / Studies (Total) info 105 30
Charting - Drawing Tools (Total) info 78 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Moneta Markets 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 Yes Yes
Mobile Economic Calendar info Yes Yes
Research Moneta Markets LegacyFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education Moneta Markets LegacyFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info No Yes
Client Webinars (Archived) info No Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info No Yes
Major Forex Pairs Moneta Markets 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 Moneta Markets Review LegacyFX Review
Overall Moneta Markets LegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 72 67
Winner check_circle
Review Moneta Markets Review LegacyFX Review
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Moneta Markets 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 Moneta Markets vs LegacyFX.

Can I trust Moneta Markets?

Moneta Markets is not publicly traded and does not operate a bank. Moneta Markets is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and one Tier-4 regulator (High Risk). Moneta Markets is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC).

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 Moneta Markets good?

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.

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 Moneta Markets?

To open a trading account with Moneta Markets, you'll need to make an initial minimum deposit of $50.

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. Moneta Markets offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas LegacyFX provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Does Moneta Markets 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 Moneta Markets 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 Moneta Markets 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 Moneta Markets and LegacyFX hold 1 global Tier-1 licenses. Moneta Markets holds 1 global Tier-2 licenses, while LegacyFX holds 0.

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 Moneta Markets (72) earned a higher Trust Score than LegacyFX (67).

Which trading platform is better: Moneta Markets or LegacyFX?

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

Here’s what trading platforms are available at Moneta Markets:

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

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. Moneta Markets offers MetaTrader 4 (MT4), while LegacyFX does not. Forex traders also appreciate the ability to engage in social copy trading. Moneta Markets and LegacyFX both offer copy trading.

What can I trade with each broker?

Moneta Markets provides traders 54 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. If you are interested in trading a full range of securities, Moneta Markets offers traders access to 1016 tradeable symbols, while LegacyFX offers access to 425 tradeable symbols; so Moneta Markets offers 591 more tradeable symbols than LegacyFX.

We found in our testing that Moneta Markets offers a more diverse selection of investment options than LegacyFX, 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: Moneta Markets

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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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