Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
Founded in 2008, Plus500 has established itself as a highly trusted online broker, scoring an impressive 99 out of 99 on ForexBrokers.com's Trust Score. This high rating is supported by its status as a publicly traded company and its possession of 6 Tier-1 licenses, which reflect top-level approval from financial regulators. Plus500 is not a bank, but its strong regulatory credentials make it a favored choice for those seeking a reliable broker.
LegacyFX, launched in 2012, presents a different regulatory picture. It is not publicly traded, and while it possesses one Tier-1 license, it lacks Tier-2 licenses, receiving a Trust Score of 67. This places LegacyFX in a higher risk category compared to its counterpart. Both firms are not banks, but the contrast in their regulatory standings makes Plus500 the more trusted option among these two.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Year Founded | 2008 | 2012 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing the commissions and fees of online brokerages Plus500 and LegacyFX, Plus500's pricing is generally above the industry average and not as competitive as top-tier forex brokers in terms of active trader pricing. The broker does not offer discounts to retail clients but provides cash rebates if you qualify as a Professional client. The average spread for EUR/USD at Plus500 was 1.5 pips in April 2024, which is on the higher side compared to the industry standard. Plus500 holds a 4.0-star rating for commissions and fees, ranking 23rd out of 63 brokers evaluated by ForexBrokers.com.
LegacyFX's account offerings and related fees vary based on its EU entity, regulated by CySEC, or its international entity in Vanuatu. For EU residents, LegacyFX provides three account types—Silver, Gold, and Platinum—with minimum deposits of $500, $5,000, and $25,000 respectively. The Platinum account has the most favorable spreads, while the Silver account incurs significantly higher costs, with spreads reaching as much as 1.6 pips on the EUR/USD. Unfortunately, average spreads are not disclosed, making it hard to assess the true trading costs. Meanwhile, the Vanuatu entity offers seven account types with a minimum deposit starting at $500. Additional benefits such as client support and trading tools improve with higher account tiers. LegacyFX is rated 3.5 stars for commissions and fees, placing it 57th out of 63 brokers in the ForexBrokers.com rankings.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | €50 | $500 |
| Average Spread EUR/USD - Standard | 1.3 | N/A |
| All-in Cost EUR/USD - Active | 1.3 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | 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.
When considering the range of investments available, Plus500 and LegacyFX both offer compelling options, each appealing to different investor preferences. Plus500 stands out with an impressive list of 5,500 tradeable symbols, including 65 forex pairs. Investors also gain access to exchange-traded securities on U.S. and international exchanges, allowing them to purchase shares like Apple and Vodafone directly. However, Plus500 does not provide copy trading and limits cryptocurrency dealings to derivatives rather than actual coins.
On the other hand, LegacyFX provides 425 tradeable symbols, including 44 forex pairs. Although it lacks direct access to exchange-traded securities on major exchanges, it compensates by offering the option to engage in copy trading, a feature not available with Plus500. Both brokers allow trading in cryptocurrency derivatives but not in actual cryptocurrencies. As a result of its extensive offerings, Plus500 receives a 4.5-star rating for its range of investments and ranks #21 out of 63 brokers by ForexBrokers.com. Meanwhile, LegacyFX earns a 3.5-star rating, placing it at #48 in the same category.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 425 |
| Forex Pairs (Total) | 65 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 Plus500 and LegacyFX for their trading platforms and tools, several key differences stand out. Plus500 offers a proprietary, web-based trading platform that is developed in-house, allowing users to access it directly through their internet browser without needing to download any software. Additionally, Plus500 provides a free virtual demo account, making it easy for new traders to practice without financial risk. In terms of charting, Plus500 supports a robust selection of 36 drawing tools, though it doesn't enable direct trading from charts. Plus500 boasts a high user rating of 4.5 stars and ranks 14th out of 63 brokers on ForexBrokers.com for its trading platforms and tools.
LegacyFX offers a different set of features by providing a Windows-based desktop download platform alongside a web-based option. Unlike Plus500, it does not have a proprietary platform but supplements its offerings with MetaTrader 5, which is known for its advanced analytical tools. LegacyFX also supports copy trading, which can appeal to traders interested in social trading dynamics. It offers 15 drawing tools and allows trading directly from stock charts, though it has fewer fields (7) available in watch lists compared to Plus500's 10. Despite these features, LegacyFX receives a slightly lower rating of 3.5 stars and ranks 60th for trading platforms and tools on ForexBrokers.com.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 36 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Plus500 and LegacyFX, both platforms offer iPhone and Android apps, allowing users to trade on the go. They each provide stock or forex price alerts, giving traders the ability to stay updated with market changes. Plus500 stands out with its comprehensive charting options, offering 115 technical studies compared to LegacyFX’s 30. While both apps allow drawing trendlines and viewing multiple time frames on charts, LegacyFX has the advantage of auto-saving drawings, a feature not available in Plus500. On the other hand, Plus500 provides watchlist symbol syncing, enabling a seamless experience across mobile and online platforms, an option LegacyFX does not offer.
Both apps permit the creation of watchlists with real-time quotes, essential for active traders. However, in terms of user ratings and rankings, Plus500 outshines LegacyFX with a 4.5-star rating, while LegacyFX holds a 3.5-star rating. This difference is also reflected in their ranks by ForexBrokers.com, where Plus500 is positioned at #14 out of 63 brokers, considerably ahead of LegacyFX, which is ranked at #61. Overall, Plus500’s app offers a more feature-rich and highly rated user experience compared to LegacyFX.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 115 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Plus500 and LegacyFX both provide daily market commentary and maintain an economic calendar, assisting traders in staying informed of global economic events. While Plus500 delivers a sentiment-based trading tool to gauge trading positions, LegacyFX lacks this feature but makes up for it by offering forex news from reputable sources like Bloomberg and Reuters. Both platforms enhance their research capabilities with distinct strengths: Plus500 integrates tools from Trading Central to enhance technical analysis, whereas LegacyFX relies on Autochartist for similar analytical insights.
When it comes to ratings, Plus500 receives a slightly higher research score of 4.0 stars compared to LegacyFX's 3.5 stars. This disparity is further reflected in their rankings, with Plus500 positioned at number 19 compared to LegacyFX at 46 out of 63 brokers reviewed by ForexBrokers.com. Plus500's stronger performance in certain analytical tools might appeal to those valuing advanced research facets, while LegacyFX's access to top-tier forex news provides a robust information source for traders.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners between Plus500 and LegacyFX, both platforms provide a solid starting point for those new to forex or CFDs. They each offer comprehensive educational content with a minimum of 10 pieces focused on trading, whether through articles, videos, or webinars. Both brokers also ensure ongoing learning opportunities with monthly online webinars, which are conveniently archived for later viewing. Beginners can find at least 10 specific videos on trading topics, making it easier to grasp the basics before diving deeper into more advanced content.
Plus500 stands out slightly more with a higher educational rating of 4.0 stars compared to LegacyFX’s 3.5 stars, as reflected in their respective rankings by ForexBrokers.com—#31 for Plus500 and #35 for LegacyFX. A key difference is that LegacyFX enhances its educational offering with a useful investor dictionary featuring over 50 terms, which Plus500 lacks. This added resource can be especially beneficial for beginners needing quick and easy access to definitions while learning. Overall, while both platforms are commendable in their support for new traders, Plus500’s higher rating suggests a slightly more favorable educational experience.
| Feature |
Plus500
|
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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Plus500 is better than LegacyFX. Plus500 finished with an overall rank of #14, while LegacyFX finished with an overall rank of #63.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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When comparing online brokers, Plus500 and LegacyFX do not offer the ability to buy actual delivered cryptocurrency, instead both provide options to buy cryptocurrency derivatives.
When comparing online brokers, Plus500 and LegacyFX both provide Visa/Mastercard and bank wire options for account transactions, but Plus500 distinguishes itself by additionally offering PayPal for deposits and withdrawals, while both brokers provide Skrill, yet neither supports ACH or SEPA transfers.
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 | Plus500 | LegacyFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Plus500 Review | LegacyFX Review |
| Broker Screenshots | Plus500 | LegacyFX | |
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| Regulation | Plus500 | LegacyFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 2008 | 2012 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Plus500 | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 425 | |
| Forex Pairs (Total) | 65 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 | Plus500 | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | N/A | |
| All-in Cost EUR/USD - Active | 1.3 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Plus500 | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | €50 | $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 | No | No |
| Trading Platforms | Plus500 | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Plus500 | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 36 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 115 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Plus500 | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | 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) | No | Yes |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | LegacyFX Review |
| Overall | Plus500 | LegacyFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Plus500 Review | LegacyFX Review |
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