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MultiBank vs LegacyFX 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 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.

MultiBank
4/5 Stars Overall
  • Minimum Deposit: $50
  • Trust Score: 84
  • Tradeable Symbols (Total): 1042
LegacyFX
3.5/5 Stars Overall
  • Minimum Deposit: $500
  • Trust Score: 67
  • Tradeable Symbols (Total): 425

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.

Regulation

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Year Founded info 2005 2012
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 3 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 1

Fees

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Minimum Deposit info $50 $500
Average Spread EUR/USD - Standard info N/A N/A
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info No Yes
ACH or SEPA Transfers info Yes No
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1042 425
Forex Pairs (Total) info 40 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 Yes 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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info Yes 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
DupliTrade info No No
ZuluTrade info No No
Charting - Indicators / Studies (Total) info 38 30
Charting - Drawing Tools (Total) info 17 15
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 7 7
View More

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info No 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 Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Daily Market Commentary info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info No No
TipRanks info No No
Signal Centre (Acuity Trading) info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

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 MultiBank logoMultiBank
LegacyFX logoLegacyFX
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 No Yes
Investor Dictionary (Glossary) info No Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

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.

Feature MultiBank logoMultiBank
LegacyFX logoLegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Trust Score info 84 67
Range of Investments 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with MultiBank or LegacyFX?

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.

What funding options does each broker offer?

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.




announcementPlease 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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Compare

0 of 5
Overall Rating MultiBank LegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 84 67
Winner check_circle
Review MultiBank Review LegacyFX Review
Broker Screenshots MultiBank 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 MultiBank LegacyFX
Trust Score info 84 67
Year Founded info 2005 2012
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes Yes info
Tier-1 Licenses info 3 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 1
Tier-1 Licenses (Highly Trusted) MultiBank 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 Yes 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 Yes Yes info
Tier-2 Licenses (Trusted) MultiBank LegacyFX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments MultiBank LegacyFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1042 425
Forex Pairs (Total) info 40 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 Yes 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).
Cost MultiBank LegacyFX
Average Spread EUR/USD - Standard info N/A N/A
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info No Yes
Inactivity Fee info Yes No
Execution: Agency Broker info No No
Execution: Market Maker info Yes Yes
Funding MultiBank LegacyFX
Minimum Deposit info $50 $500
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms MultiBank LegacyFX
Proprietary Platform info Yes 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 No No
Trading Tools MultiBank LegacyFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 38 30
Charting - Drawing Tools (Total) info 17 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading MultiBank 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 No 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 MultiBank LegacyFX
Daily Market Commentary info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education MultiBank 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 No Yes
Investor Dictionary (Glossary) info No Yes
Major Forex Pairs MultiBank 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 MultiBank Review LegacyFX Review
Overall MultiBank LegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 84 67
Winner check_circle
Review MultiBank Review LegacyFX Review
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