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
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. 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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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.