MultiBank vs LegacyFX 2025
In this head to head comparison of MultiBank vs LegacyFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
In this head to head comparison of MultiBank 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.
When comparing online brokers MultiBank and LegacyFX, key differences arise in their regulatory status and trust ratings. MultiBank, established in 2005, is older than LegacyFX, founded in 2012. Neither company is publicly traded or operates as a bank. Regulatory-wise, MultiBank holds three Tier-1 licenses, indicating high trust, and one Tier-2 license. In comparison, LegacyFX possesses one Tier-1 license and no Tier-2 licenses. This regulatory strength gives MultiBank a Trust Score of 84, positioning it in the trusted category according to ForexBrokers.com ratings.
LegacyFX, on the other hand, has a Trust Score of 67, placing it in the high-risk category due to fewer regulatory licenses. This suggests that while both brokers are viable options for trading, MultiBank offers stronger regulatory backing, which might be reassuring for traders seeking more regulated environments. Both companies offer distinct advantages, but MultiBank's additional licenses could make it a preferred choice for those prioritizing trust and regulatory coverage.
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Year Founded | 2005 | 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 | 3 | 1 |
When it comes to commissions and fees, MultiBank offers three different account types tailored for forex and CFD trading: Standard, Pro, and ECN. The Standard account at MultiBank requires a mere $50 minimum deposit, but it comes with relatively high spreads, making it more suited for beginners. On the other hand, the Pro account, which requires a $1,000 deposit, offers lower spreads, while the ECN account offers the lowest spreads coupled with a small commission charge of $3 per trade but demands a $10,000 minimum deposit. However, it is important to note that MultiBank charges a $60 inactivity fee if no trading activity occurs over 90 days. MultiBank earns a 4-star rating for commissions and fees and holds the 38th position out of 63 brokers in this category according to ForexBrokers.com.
LegacyFX provides a variety of accounts, varying by its EU entity or international entity in Vanuatu. Unfortunately, LegacyFX does not provide average spreads, making it challenging to gauge trading costs. In the EU, LegacyFX offers Silver, Gold, and Platinum accounts requiring minimum deposits of $500, $5,000, and $25,000 respectively. The Platinum account offers the lowest advertised spreads, while the Silver account has higher trading costs, with spreads starting from 1.6 pips on the EUR/USD. internationally, LegacyFX provides seven account types with the account choice influencing client support and trading tools availability. LegacyFX has a 3.5-star rating for commissions and fees and ranks 57th out of 63 brokers according to ForexBrokers.com.
In comparing MultiBank and LegacyFX based on their commissions and fees, MultiBank appears to be more accessible for novice traders with lower initial deposit requirements, especially for the Standard account. LegacyFX, while offering more account variety, may not be as transparent with its trading costs due to the lack of average spreads. Both brokers offer higher-tier accounts with better spreads but come with significantly higher deposit requirements. Ultimately, MultiBank's higher ranking and rating suggest it may offer better value in terms of fees, especially for traders who prefer defined cost structures.
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Minimum Deposit | $50 | $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 | No | Yes |
ACH or SEPA Transfers | Yes | 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.
When comparing MultiBank and LegacyFX for their available range of investments, both brokers offer forex trading as CFDs. MultiBank stands out with a significantly larger selection of tradeable symbols, boasting 1,042 options compared to LegacyFX's 425. While LegacyFX offers a slightly higher number of tradeable forex pairs—44 compared to MultiBank's 40—neither broker provides exchange-traded securities on U.S. or international exchanges. Uniquely, MultiBank offers clients the ability to buy actual cryptocurrencies, a feature not available with LegacyFX, although both brokers support trading cryptocurrency derivatives. Both platforms also support copy trading, catering to investors looking to replicate successful strategies.
In terms of market recognition, MultiBank holds a four-star rating for its range of investments, ranking #37 out of 63 brokers on ForexBrokers.com. LegacyFX follows with a 3.5-star rating, placing it at #48. This positioning reflects MultiBank's broader array of investment opportunities and added flexibility with cryptocurrency offerings, making it a more versatile choice for traders seeking diverse options.
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Forex Trading (Spot or CFDs) | Yes | Yes |
Tradeable Symbols (Total) | 1042 | 425 |
Forex Pairs (Total) | 40 | 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) | Yes | 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). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, MultiBank and LegacyFX both provide solid options, but there are key differences worth noting. Both brokers support simulated trading through free virtual demo accounts, giving users a risk-free way to hone their skills. MultiBank stands out with its proprietary trading platform, allowing for a tailored experience that LegacyFX doesn't offer. However, both brokers have strong web-based and Windows desktop trading platforms. MultiBank leads with its inclusion of MetaTrader 4 and MetaTrader 5, while LegacyFX only offers MetaTrader 5. Importantly, both brokers support direct trading from stock charts and feature identical offerings for watch lists with seven available columns for fields.
MultiBank and LegacyFX are evenly matched in several areas, such as offering copy trading and having no support for DupliTrade or ZuluTrade. When it comes to technical indicators, the specifics are not listed, but in terms of drawing tools, MultiBank provides 17 compared to LegacyFX's 15. Overall, MultiBank scores a bit higher with a 4-star rating over LegacyFX's 3.5 stars for trading platforms and tools. According to ForexBrokers.com, MultiBank is ranked 39th out of 63 brokers, while LegacyFX is positioned lower at 60th in the same category. These rankings reflect a slightly more favorable impression of MultiBank's offerings in the trading platform space.
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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) | 38 | 30 |
Charting - Drawing Tools (Total) | 17 | 15 |
Charting - Trade From Chart | Yes | Yes |
Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both MultiBank and LegacyFX cater to mobile traders by providing apps compatible with iPhone and Android devices. These apps come equipped with important features like stock and forex price alerts, creation of watchlists with real-time quotes, and the ability to draw trendlines and view multiple time frames on charts. MultiBank and LegacyFX each offer 30 technical studies for charting, though neither supports watchlist symbol syncing with online accounts. Auto-saving of chart annotations is one more feature they share.
When it comes to ratings and rankings, there is a clear distinction. MultiBank's mobile trading app garners a rating of 4 out of 5 stars compared to LegacyFX's 3.5 stars. This difference is reflected in their rankings by ForexBrokers.com, where MultiBank holds the 41st position out of 63 brokers, while LegacyFX comes in at 61st. Thus, while both apps provide a comprehensive suite of tools and features for traders, MultiBank edges out LegacyFX in user satisfaction and industry standing.
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Android App | Yes | Yes |
Apple iOS App | Yes | Yes |
Mobile Alerts - Basic Fields | Yes | Yes |
Watchlist Syncing | No | 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 the market research offerings of MultiBank and LegacyFX, each has its distinctive strengths. LegacyFX provides daily market commentary, which is a valuable resource for traders looking to stay informed daily. Both brokers offer access to forex news from top-tier sources like Bloomberg and Reuters, ensuring traders are well-informed about the latest developments in the financial world. However, LegacyFX takes a slight edge by offering technical analysis tools from Autochartist, a resource not available with MultiBank. On the other hand, neither broker provides tools from Trading Central, sentiment-based trading tools, or research options from TipRanks or Acuity Trading.
In terms of additional features, both brokers provide an economic calendar to keep traders updated on global news events affecting various economies. When it comes to user ratings, both MultiBank and LegacyFX receive a 3.5-star rating for research. However, LegacyFX ranks slightly higher at #45 compared to MultiBank's #49 out of 63 brokers in the ForexBrokers.com research ranking. This detailed comparison highlights the subtle differences between the two platforms, giving potential users an insight into their offerings from a market research perspective.
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Daily Market Commentary | No | Yes |
Forex News (Top-Tier Sources) | Yes | Yes |
Autochartist | No | Yes |
Trading Central (Recognia) | No | No |
Social Sentiment - Currency Pairs | No | No |
TipRanks | No | No |
Signal Centre (Acuity Trading) | No | No |
Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When evaluating the educational resources for beginners offered by MultiBank and LegacyFX, both online brokers provide at least 10 educational materials, such as articles, videos, and archived webinars focused on forex or CFDs, making them suitable for initial learning steps. For those who prefer visual learning, both firms also deliver a collection of beginner-friendly educational videos covering essential trading topics. However, LegacyFX distinguishes itself by offering regular monthly educational webinars and a searchable archive of these sessions, giving newcomers continuous opportunities to learn and engage. In contrast, MultiBank does not provide these features.
LegacyFX further enhances the learning experience for both beginners and experienced traders by supplying over 10 advanced educational videos, guiding users towards more sophisticated trading concepts. They also offer an investor dictionary with definitions of over 50 investing terms, assisting in demystifying trading jargon. MultiBank falls short in these areas, providing no advanced educational videos or a comprehensive investor dictionary. Although both brokers are rated equally at 3.5 stars for education, LegacyFX is positioned higher at #35 compared to MultiBank's #50 ranking by ForexBrokers.com, indicating a stronger educational offering overall.
Feature |
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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 | No | 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 MultiBank is better than LegacyFX. MultiBank finished with an overall rank of #40, while LegacyFX finished with an overall rank of #62.
MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. On the negative side, the broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.
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Overall Rating |
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Trust Score | 84 | 67 |
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MultiBank provides the capability to purchase actual delivered cryptocurrencies in addition to cryptocurrency derivatives, while LegacyFX offers only the option to trade cryptocurrency derivatives, not the actual cryptocurrencies.
MultiBank and LegacyFX both facilitate fund transactions using Visa, Mastercard, Skrill, and bank wires, but only MultiBank provides the added convenience of ACH or SEPA 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 5Overall Rating | MultiBank | LegacyFX | |
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Trust Score | 84 | 67 | |
Winner | check_circle | ||
Review | MultiBank Review | LegacyFX Review |
Broker Screenshots | MultiBank | LegacyFX | |
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Trading Platforms Gallery (click to expand) | |||
Mobile Trading Gallery (click to expand) | |||
Research Gallery (click to expand) | |||
Education Gallery (click to expand) |
Regulation | MultiBank | LegacyFX | |
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Trust Score | 84 | 67 | |
Year Founded | 2005 | 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 | 3 | 1 |
Tier-1 Licenses (Highly Trusted) | MultiBank | LegacyFX | |
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Australia (ASIC Authorised) | Yes | No | |
Canada (CIRO Authorised) | No | No | |
Hong Kong (SFC Authorised) | No | No | |
Japan (SFC Authorised) | No | No | |
Singapore (MAS Authorised) | Yes | 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) | MultiBank | LegacyFX | |
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Kenya (CMA Authorised) | No | No | |
Israel (ISA Authorised) | No | No | |
South Africa (FSCA Authorised) | No | No | |
UAE (DFSA/Central Bank Authorised) | Yes | No | |
India (SEBI Authorised) | No | No | |
Jordan (JSC Authorised) | No | No |
Investments | MultiBank | LegacyFX | |
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Forex Trading (Spot or CFDs) | Yes | Yes | |
Tradeable Symbols (Total) | 1042 | 425 | |
Forex Pairs (Total) | 40 | 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) | Yes | 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). |
Cost | MultiBank | LegacyFX | |
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Average Spread EUR/USD - Standard | N/A | N/A | |
All-in Cost EUR/USD - Active | N/A | N/A | |
Active Trader or VIP Discounts | No | Yes | |
Inactivity Fee | Yes | No | |
Execution: Agency Broker | No | No | |
Execution: Market Maker | Yes | Yes |
Funding | MultiBank | LegacyFX | |
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Minimum Deposit | $50 | $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 | Yes | No |
Trading Platforms | MultiBank | LegacyFX | |
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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 | MultiBank | LegacyFX | |
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Virtual Trading (Demo) | Yes | Yes | |
Alerts - Basic Fields | Yes | Yes | |
Watchlists - Total Fields | 7 | 7 | |
Charting - Indicators / Studies (Total) | 38 | 30 | |
Charting - Drawing Tools (Total) | 17 | 15 | |
Charting - Trade From Chart | Yes | Yes | |
Charts can be saved | Yes | Yes |
Mobile Trading | MultiBank | LegacyFX | |
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Android App | Yes | Yes | |
Apple iOS App | Yes | Yes | |
Mobile Alerts - Basic Fields | Yes | Yes | |
Mobile Watchlist | Yes | Yes | |
Watchlist Syncing | No | 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 | MultiBank | LegacyFX | |
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Daily Market Commentary | No | Yes | |
Forex News (Top-Tier Sources) | Yes | Yes | |
Autochartist | No | Yes | |
Trading Central (Recognia) | No | No | |
TipRanks | No | No | |
Social Sentiment - Currency Pairs | No | No | |
Economic Calendar | Yes | Yes |
Education | MultiBank | LegacyFX | |
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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 | No | Yes | |
Investor Dictionary (Glossary) | No | Yes |
Major Forex Pairs | MultiBank | LegacyFX | |
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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 | MultiBank Review | LegacyFX Review |
Overall | MultiBank | LegacyFX | |
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Overall Rating |
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Range of Investments |
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Mobile Trading |
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Research |
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Education |
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Trust Score | 84 | 67 | |
Winner | check_circle | ||
Review | MultiBank Review | LegacyFX Review |