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 and LegacyFX, two online brokers established in 2009 and 2012 respectively, offer distinct regulatory profiles and trust ratings for potential investors. Neither of the brokers is publicly traded or operates as a bank, which keeps them outside the scrutiny tied to such status. Moneta Markets holds a single Tier-1 license, the highest level of regulatory trust, alongside one Tier-2 license. This combination grants Moneta Markets a Trust Score of 72, categorizing it as average risk according to ForexBrokers.com. In comparison, LegacyFX also possesses one Tier-1 license, but lacks any Tier-2 licenses, resulting in a slightly lower Trust Score of 67, which places it in the high-risk category.
Both Moneta Markets and LegacyFX demonstrate a commitment to regulatory compliance by maintaining Tier-1 licenses, but Moneta Markets gains an edge by holding an additional Tier-2 license. This contributes to a marginally more favorable trust perception in the industry according to the ratings by ForexBrokers.com. Potential investors might find Moneta Markets a more appealing option in terms of perceived security, based on its slightly higher Trust Score and additional licensing.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2009 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Moneta Markets provides a range of account options that cater to different trading needs. For those looking at commission-free options, the Direct STP account might appeal, featuring an average spread of 1.38 pips for the EUR/USD pair. However, spreads are significantly more competitive with the Prime ECN account, which offers an average spread of 0.194 pips, accompanied by a $6 round-trip commission on standard lots. The Ultra ECN account takes this a step further with a lower $2 round-turn commission for larger deposits, coupled with tighter spreads. Despite these options, Moneta Markets' overall pricing strategy is yet to reach the level of the top forex brokers. This broker is rated 4.5 stars for commissions and fees, securing the 16th position among 62 brokers ranked by ForexBrokers.com.
LegacyFX presents varied account choices that differ by geographical location. EU clients can choose between Silver, Gold, and Platinum accounts, each requiring different minimum deposits and spreading offerings. For instance, the Silver account has a minimum spread of 1.6 pips for EUR/USD, with trading costs reducing with higher-end accounts. On the international side, LegacyFX provides seven account types, ranging from Standard to VIP, with varying deposit requirements and access to trading support. Unfortunately, there is a lack of detailed spread information, making it harder to fully gauge trading costs. LegacyFX receives a 3.5-star rating for commissions and fees and ranks 56th in the category according to ForexBrokers.com.
| 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.
When comparing Moneta Markets and LegacyFX for their range of investments, key differences come to light, especially in the variety of trading symbols and forex pairs offered. Moneta Markets provides a significant advantage with 1,016 tradable symbols, which includes 54 forex pairs. In contrast, LegacyFX offers 425 tradable symbols and 44 forex pairs. Both brokers allow forex trading via CFDs or spot contracts and offer cryptocurrency derivatives rather than actual cryptocurrencies. However, neither broker provides access to exchange-traded securities on U.S. or international exchanges, and they both make copy trading available as a feature.
In terms of ratings and rankings, Moneta Markets receives a slightly higher rating of 4 stars for its range of investments compared to LegacyFX's 3.5 stars. This is further reflected in industry rankings, with Moneta Markets positioned at #35 and LegacyFX at #48 out of 62 brokers, according to ForexBrokers.com. These evaluations indicate that while both brokers provide a diverse selection of investment options, Moneta Markets edges out with a more extensive offering, making it a potentially more attractive choice for traders seeking a larger pool of investment opportunities.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1016 | 425 |
| Forex Pairs (Total) | 54 | 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.
When comparing Moneta Markets and LegacyFX in terms of their trading platforms and tools, both brokers provide some essential features, such as offering simulated trading with free virtual demo accounts. Neither Moneta Markets nor LegacyFX has developed an in-house proprietary trading platform, but they both provide Windows-based desktop and web-based browser platforms for versatile access. In terms of platform offerings, Moneta Markets appears to have an edge with availability of MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX provides only MetaTrader 5. Additionally, Moneta Markets supports ZuluTrade for copy trading, unlike LegacyFX, though both brokers offer copy trading functionality.
In terms of charting tools, Moneta Markets supports a more generous selection with 78 drawing tools compared to LegacyFX's 15. However, for watch lists, LegacyFX offers a slightly broader option with 7 columns versus Moneta Markets' 4 columns. Both brokers allow traders to make trades directly from a stock chart. According to ForexBrokers.com, Moneta Markets scores higher with a rating of 4 stars and is ranked 33rd among 62 brokers for trading platforms and tools, whereas LegacyFX is rated 3.5 stars and ranks 59th. This suggests that Moneta Markets may offer a somewhat more robust experience for traders seeking diverse and adaptable tools.
| 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 | No | No |
| ZuluTrade | Yes | 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 offer seamless experiences for iPhone and Android users, enabling convenient access to stock and forex markets on the go. Both apps allow users to set up price alerts and draw trendlines on charts, while also providing a vast array of 30 technical studies each to analyze market trends. However, Moneta Markets stands out with its ability to sync watchlists between the mobile app and online client accounts, ensuring any adjustments made are reflected across all platforms, a feature that LegacyFX lacks.
Moneta Markets and LegacyFX both support the creation of watchlists with real-time quotes and support viewing multiple chart time frames to suit different trading strategies. Additionally, both save chart drawings automatically, streamlining the trading process. In terms of user satisfaction, Moneta Markets holds a higher rating of 4 out of 5 stars compared to LegacyFX's 3.5 stars. The distinction in features and user satisfaction is mirrored in their rankings by ForexBrokers.com, where Moneta Markets is positioned at #36, significantly ahead of LegacyFX at #60 among 62 brokers evaluated for mobile trading apps.
| 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 comparing Moneta Markets and LegacyFX, both brokers provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring that traders are well-informed. Moneta Markets stands out with its offerings from Trading Central, providing advanced technical analytics, as well as a sentiment-based trading tool, which gives insights into market positions. In contrast, LegacyFX utilizes tools from Autochartist for technical analysis, providing different but valuable resources for traders.
While both brokers supply an economic calendar for tracking global news events, neither offers research tools from Acuity Trading or market research from TipRanks. In terms of research ratings, Moneta Markets scores slightly higher with 4 stars compared to LegacyFX's 3.5 stars. Additionally, Moneta Markets is ranked 32 out of 62 brokers by ForexBrokers.com in the Research category, outperforming LegacyFX, which is ranked 45. These differences highlight Moneta Markets as a slightly more comprehensive option for traders seeking extensive research and analysis tools.
| 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 beginners by offering a wealth of educational resources in the world of forex and CFDs. Users will find more than 10 educational pieces on both platforms, including articles, videos, and archived webinars that primarily focus on these topics. For those just starting out, each broker provides over 10 beginner-friendly educational videos that cover essential trading topics. This makes both platforms appealing to newcomers aiming to build a foundational knowledge of trading.
LegacyFX takes a slight edge with its monthly online educational webinars and a searchable archive of past sessions, offering additional learning opportunities. This broker also includes an investor dictionary with over 50 defined investing terms, aiding clients in learning industry jargon. Meanwhile, Moneta Markets excels with a slightly higher educational rating of 4 stars compared to LegacyFX's 3.5 stars. Ranked #33 by ForexBrokers.com for educational offerings, Moneta Markets edges out LegacyFX, which lands at #35. However, both platforms maintain a strong focus on beginner education, so new traders are likely to find valuable insights at either broker.
| Feature |
Moneta Markets
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | 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 Moneta Markets is better than LegacyFX. Moneta Markets finished with an overall rank of #35, while LegacyFX finished with an overall rank of #62.
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 | 72 | 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 | 72 | 67 | |
| Winner | check_circle | ||
| Review | Moneta Markets Review | LegacyFX Review |
| Broker Screenshots | Moneta Markets | LegacyFX | |
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| Regulation | Moneta Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 72 | 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 | 1 | 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) | 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). | 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) | 54 | 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 | No | No | |
| ZuluTrade | Yes | 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) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | No | 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 | 72 | 67 | |
| Winner | check_circle | ||
| Review | Moneta Markets Review | LegacyFX Review |
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