Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and LegacyFX are notable players in the online trading world, each bringing distinct qualities to the table. Founded in 2010, Pepperstone is celebrated for its high level of trust with a ForexBrokers.com Trust Score of 95 out of 99. This score reflects its solid regulatory standing, as it holds three Tier-1 licenses and two Tier-2 licenses, marking it as a highly trusted broker. Although not publicly traded or a bank, Pepperstone's comprehensive regulation ensures a secure trading environment for its users.
LegacyFX, established in 2012, offers a different perspective on trust and regulation. With a Trust Score of 67, it falls into the average risk category according to ForexBrokers.com, which is supported by its possession of only one Tier-1 license and no Tier-2 licenses. Like Pepperstone, LegacyFX is neither publicly traded nor a bank. Nonetheless, traders seeking a broker with more comprehensive regulatory credentials might find Pepperstone's offerings more comforting.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Year Founded | 2010 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing Pepperstone and LegacyFX for their commissions and fees, Pepperstone stands out with its Razor account, which offers highly competitive pricing, particularly when combined with their Active Trader program. The Razor account, compatible with platforms like MetaTrader and cTrader, features an average spread of 0.10 pips for EUR/USD. Including commissions, the total cost is approximately 0.80 pips, aligning with industry averages. On the other hand, Pepperstone’s Standard account is commission-free but comes with higher spreads at 1.1 pips for the same currency pair. For active traders, Pepperstone offers rebates based on trading volume, improving the cost-effectiveness for professionals in regions such as the United Kingdom, EU, and Australia.
LegacyFX presents a different structure, with its account options varying by regional regulation—either under CySEC in the EU or their international entity in Vanuatu. For EU clients, three account types are available: Silver, Gold, and Platinum, with minimum deposits ranging from $500 to $25,000. The Platinum account has the most favorable spreads, while the Silver account bears significantly higher costs, with spreads starting at 1.6 pips for EUR/USD. Internationally, LegacyFX offers more account types and provides different levels of support and access to trading tools based on the chosen account but lacks transparency in publishing average spreads, adding uncertainty to the trading costs.
Pepperstone earns a superior rating of 4.5 out of 5 stars for its commissions and fees, placing it at #10 out of 63 brokers on ForexBrokers.com. In contrast, LegacyFX is rated 3.5 stars, ranking it significantly lower at #57. Pepperstone’s structured rebates and competitive cost model make it a more attractive option for traders focused on minimizing trading expenses.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $500 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
Pepperstone and LegacyFX are both noteworthy players for those interested in online trading, particularly in the realm of forex trading through CFDs or spot contracts. Pepperstone distinguishes itself with a wide selection of 1,726 tradeable symbols, which include 65 forex pairs, offering traders a broad spectrum of options. In contrast, LegacyFX provides a more limited selection with 425 tradeable symbols and 44 forex pairs. Both platforms do not support the purchase of exchange-traded securities from U.S. or international exchanges, nor do they allow the purchase of actual cryptocurrencies; however, they do offer cryptocurrency derivatives and copy trading options, catering to diverse trading strategies and preferences.
When it comes to the range of investments available, Pepperstone receives 4 out of 5 stars, reflecting its extensive offerings, while LegacyFX earns a slightly lower rating of 3.5 stars. From a competitive perspective, Pepperstone ranks 26th among 63 brokers in the Range of Investments category, whereas LegacyFX positions itself at 48th. This demonstrates Pepperstone's slight edge in providing a broader array of tradeable assets, potentially making it a more appealing choice for traders seeking diversity in their investment portfolios.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 425 |
| Forex Pairs (Total) | 65 | 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 (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). | 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 comparing Pepperstone and LegacyFX, both brokers offer simulated trading with free virtual demo accounts, catering to beginners who wish to practice before committing real funds. Pepperstone stands out by providing its own proprietary platform, a feature LegacyFX lacks. Both brokers support Windows-based desktop platforms and web-based trading, ensuring flexibility for traders using different devices. While both brokers support MetaTrader 5 (MT5), only Pepperstone offers MetaTrader 4 (MT4), a popular choice among experienced traders. Additionally, Pepperstone is integrated with DupliTrade, unlike LegacyFX, but neither broker supports ZuluTrade for copy trading.
Pepperstone and LegacyFX share some similarities, such as offering copy trading and the ability to trade directly from stock charts. Yet, Pepperstone distinguishes itself with a broader range of drawing tools for charting, boasting 30 tools compared to LegacyFX's 15. Both brokers offer equivalent customization with watch lists, providing seven columns of fields. Trading platforms and tools on Pepperstone receive a higher rating of 4 stars compared to LegacyFX's 3.5 stars, and Pepperstone ranks #22 out of 63 brokers, while LegacyFX is positioned at #60 according to ForexBrokers.com. This indicates a stronger preference for Pepperstone's offerings in the trading community.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| 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 | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and LegacyFX provide iPhone and Android apps for their users, making mobile trading accessible across popular platforms. Each app supports crucial features like stock or forex price alerts, the ability to draw trendlines, and viewing different time frames on charts. Additionally, both platforms allow users to create watchlists with real-time quotes, with Pepperstone offering a syncing feature that ensures any changes made to watchlists on the mobile app are reflected in the client’s online account. However, LegacyFX lacks this syncing capability, which could be a significant advantage for those who frequently switch between devices.
In terms of technical studies, both apps offer 30 different studies for chart analysis, and they each excel in allowing automatic saving of chart drawings. Despite sharing many features, the two platforms differ in their mobile app ratings and rankings. Pepperstone holds a higher rating of 4 stars for its mobile trading app, while LegacyFX is rated at 3.5 stars. Moreover, Pepperstone is ranked #21 out of 63 brokers for mobile trading apps by ForexBrokers.com, considerably ahead of LegacyFX, which sits at #61. These differences might influence traders when considering the ease of managing their trading activities on the go.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
Pepperstone and LegacyFX both offer daily market commentary and provide access to forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, keeping brokers well-informed. They are also equipped with technical analysis and fundamental research tools from Autochartist, helping traders make informed decisions. However, neither broker provides research tools from Trading Central or Acuity Trading, nor do they offer market research from TipRanks. An edge that Pepperstone holds is its sentiment-based trading tool, which displays ratios of long to short positions across currency pairs. This feature is absent in LegacyFX, potentially providing Pepperstone users with deeper insights into market sentiment.
Both brokers offer economic calendars, detailing current and upcoming global news events, essential for brokers involved in international markets. According to ForexBrokers.com, Pepperstone scores an impressive 4.5 stars for research and ranks 12th out of 63 brokers, reflecting its strong research offerings. In contrast, LegacyFX has a research rating of 3.5 stars and ranks 46th. This difference suggests that while both brokers offer valuable tools and insights, Pepperstone may be better suited for those seeking a more comprehensive research experience.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners between Pepperstone and LegacyFX, both platforms provide a solid foundation in forex and CFDs education. Each offers a variety of educational materials, including over 10 articles, videos, and archived webinars, catering to those new to trading. Additionally, both platforms provide online webinars at least once a month, alongside a searchable archive of previous sessions, ensuring continuous learning opportunities. For visual learners, both brokers offer a series of beginner-friendly as well as advanced educational videos, covering an array of trading topics tailored to enhance user understanding.
Moreover, each broker includes an investor dictionary with definitions for over 50 investing terms, a handy tool for newcomers to decode trading jargon. Despite offering similar educational resources, Pepperstone received a higher education rating with 4.5 stars compared to LegacyFX's 3.5 stars. Furthermore, Pepperstone is ranked at number 17 out of 63 brokers for education by ForexBrokers.com, showcasing its slightly superior standing, whereas LegacyFX holds the 35th spot. This rating and rank suggest that while both brokers provide comprehensive educational support, Pepperstone may offer a more engaging and comprehensive learning experience for beginners.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| 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 |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than LegacyFX. Pepperstone finished with an overall rank of #16, while LegacyFX finished with an overall rank of #63.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 67 |
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Both Pepperstone and LegacyFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
Pepperstone outshines LegacyFX in deposit and withdrawal options by offering ACH, SEPA, and PayPal services, in addition to shared offerings like Skrill, Visa, Mastercard, and bank wires, while LegacyFX lacks both ACH/SEPA and PayPal support.
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 5| Overall Rating | Pepperstone | LegacyFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | LegacyFX Review |
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| Regulation | Pepperstone | LegacyFX | |
|---|---|---|---|
| Trust Score | 95 | 67 | |
| Year Founded | 2010 | 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 | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | 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) | Pepperstone | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 425 | |
| Forex Pairs (Total) | 65 | 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 (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). | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| 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 | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | LegacyFX | |
|---|---|---|---|
| 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 Pairs | Pepperstone | LegacyFX | |
|---|---|---|---|
| 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 | Pepperstone Review | LegacyFX Review |
| Overall | Pepperstone | LegacyFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | LegacyFX Review |
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