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OctaFX vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is OctaFX better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, OctaFX is considered high-risk, with an overall Trust Score of 67 out of 99. LegacyFX is considered average-risk, with an overall Trust Score of 66 out of 99. Learn more about Trust Score.

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Overall RatingOctaFXLegacyFX
Overall Rating 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 67 67
Winner check_circle
Review OctaFX Review LegacyFX Review
RegulationOctaFXLegacyFX
Trust Score 67 67
Year Founded 2011 2012
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 0 0
Tier-2 Licenses 1 1
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)OctaFXLegacyFX
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) No No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)OctaFXLegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)OctaFXLegacyFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No Yes
InvestmentsOctaFXLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 229 425
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) No No
Cryptocurrency (CFD) 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).
CostOctaFXLegacyFX
Average Spread EUR/USD - Standard 0.9 info N/A
All-in Cost EUR/USD - Active N/A N/A
Active Trader or VIP Discounts No Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingOctaFXLegacyFX
Minimum Deposit $25 $500
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsOctaFXLegacyFX
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 ToolsOctaFXLegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 7 7
Charting - Indicators / Studies (Total) 30 30
Charting - Drawing Tools (Total) 15 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingOctaFXLegacyFX
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
Forex Calendar Yes Yes
ResearchOctaFXLegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs No No
Economic Calendar Yes Yes
EducationOctaFXLegacyFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsOctaFXLegacyFX
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 OctaFX Review LegacyFX Review
OverallOctaFXLegacyFX
Overall Rating 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 67 67
Winner check_circle
Review OctaFX Review LegacyFX Review
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OctaFX vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare OctaFX vs LegacyFX.

Does OctaFX or LegacyFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, OctaFX offers better pricing overall for traders.

Is OctaFX or LegacyFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both OctaFX and LegacyFX hold 0 global Tier-1 licenses. Both OctaFX and LegacyFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, OctaFX and LegacyFX earned the same Trust Score.

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.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.OctaFX and LegacyFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

LegacyFX provides traders 44 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, LegacyFX offers traders access to 425 CFDs while OctaFX has 229 available CFDs, a difference of 196.

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Can I trust LegacyFX?

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

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.

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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