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OctaFX vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is OctaFX better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, OctaFX is considered Average-Risk, with an overall Trust Score of 70 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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Overall Rating OctaFX LegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Offering of Investments 3.5/5 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 70 67
Winner check_circle
Review OctaFX Review LegacyFX Review
Broker Screenshots OctaFX LegacyFX
Trading Platforms Gallery (click to expand) info
OctaFX OctaTrader web platform.zoom_in OctaFX Social Copy Trading web.zoom_in OctaFX social copy trading example strategy.zoom_in OctaFX social copy Trading Legend traders.zoom_in OctaFX copy trading strategy provider benefitszoom_in OctaFX market newszoom_in OctaFX market news update article detailzoom_in OctaFX MetaTrader 5 MT5 desktop platform.zoom_in OctaFX MT5 charts.zoom_in OctaFX-MetaTrader-5-MT5-forex-news-headlines.zoom_in OctaFX MetaTrader 5 desktop trading platform watchlistzoom_in
LegacyFX MT5 desktop trading platformzoom_in LegacyFX MT5 desktop trading platform watchlistzoom_in LegacyFX MT5 desktop trading platform chartszoom_in LegacyFX MT5 desktop trading platform signals marketzoom_in
Mobile Trading Gallery (click to expand) info
OctaFX MetaTrader 5 trading app watchlistzoom_in OctaFX MetaTrader 5 trading economic calendar eventszoom_in OctaFX MetaTrader 5 trading app forex news headlineszoom_in OctaFX MetaTrader 5 trading app forex news detailszoom_in OctaFX MetaTrader 5 trading app economic calendar event detailzoom_in
LegacyFX MT4 appzoom_in LegacyFX MT4 app chartzoom_in LegacyFX MT4 app trade ticketzoom_in LegacyFX MT4 app watchlistzoom_in
Research Gallery (click to expand) info
OctaFX research section webzoom_in OctaFX research technical analysis articlezoom_in OctaFX YouTube webinar livestreamszoom_in OctaFX research world interest rate trackerzoom_in OctaFX education webinars YouTube playlist.zoom_in OctaFX education webinars.zoom_in
LegacyFX AutoChartistzoom_in LegacyFX economic calendarzoom_in LegacyFX market newszoom_in LegacyFX market newszoom_in LegacyFX research trading signalszoom_in LegacyFX research trading signalszoom_in
Education Gallery (click to expand) info
OctaFX educational articleszoom_in OctaFX FX YouTube channel archived webinarszoom_in OctaFX YouTube channelzoom_in OctaFX YouTube channelzoom_in
LegacyFX educational videoszoom_in LegacyFX educational videos on demandzoom_in LegacyFX educational webinarszoom_in LegacyFX webinars YouTube channel videos playlist.zoom_in LegacyFX webinars YouTube channel videos playlist detail.zoom_in
Regulation OctaFX LegacyFX
Trust Score info 70 67
Year Founded info 2011 2012
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes 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 0 1
Tier-1 Licenses (Highly Trusted) OctaFX LegacyFX
Australia (ASIC Authorised) info No 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
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses (Trusted) OctaFX 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 OctaFX LegacyFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 229 425
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 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 OctaFX LegacyFX
Average Spread EUR/USD - Standard info 0.9 info N/A
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info No Yes
Inactivity Fee info No No
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes Yes
Funding OctaFX LegacyFX
Minimum Deposit info $25 $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
Trading Platforms OctaFX 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 OctaFX LegacyFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 30 30
Charting - Drawing Tools (Total) info 15 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading OctaFX 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
Forex Calendar info Yes Yes
Research OctaFX LegacyFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education OctaFX LegacyFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs OctaFX 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 OctaFX Review LegacyFX Review
Overall OctaFX LegacyFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3.5/5 Stars
Offering of Investments 3.5/5 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 70 67
Winner check_circle
Review OctaFX Review LegacyFX Review
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OctaFX 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 OctaFX vs LegacyFX.

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). OctaFX is authorised by the following tier-1 regulators: European Union via MiFID.

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: European Union Authorized (MiFID).

Is OctaFX good?

OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

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 OctaFX?

To open a forex trading account with OctaFX, you'll need to make an initial minimum deposit of $25.

What is the minimum deposit requirement for opening an account with LegacyFX?

OctaFX requires a minimum deposit of $500 before you can open an account and start trading forex.

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. Both OctaFX and LegacyFX offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Does OctaFX 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 OctaFX 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 OctaFX or LegacyFX safer for forex and CFDs trading?

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most 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 OctaFX and LegacyFX hold 1 global Tier-1 licenses. OctaFX 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 OctaFX (70) earned a higher Trust Score than LegacyFX (67).

Which trading platform is better: OctaFX or LegacyFX?

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

Here’s what trading platforms are available at OctaFX:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No
OctaFX OctaTrader web platform.zoom_in OctaFX Social Copy Trading web.zoom_in OctaFX social copy trading example strategy.zoom_in OctaFX social copy Trading Legend traders.zoom_in OctaFX copy trading strategy provider benefitszoom_in OctaFX market newszoom_in OctaFX market news update article detailzoom_in OctaFX MetaTrader 5 MT5 desktop platform.zoom_in OctaFX MT5 charts.zoom_in OctaFX-MetaTrader-5-MT5-forex-news-headlines.zoom_in OctaFX MetaTrader 5 desktop trading platform watchlistzoom_in

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
LegacyFX MT5 desktop trading platformzoom_in LegacyFX MT5 desktop trading platform watchlistzoom_in LegacyFX MT5 desktop trading platform chartszoom_in LegacyFX MT5 desktop trading platform signals marketzoom_in

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. OctaFX and LegacyFX both offer copy trading.

What can I trade with each broker?

LegacyFX provides traders 44 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. If you are interested in trading CFDs, LegacyFX offers traders access to 425 CFDs, while OctaFX offers access to 229 CFDs; so LegacyFX offers 196 more CFDs than OctaFX.

We found in our testing that OctaFX 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: OctaFX

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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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