Written by ForexBrokers.com
In this head to head comparison of Questrade 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.
Questrade and LegacyFX offer online brokerage services, but they differ significantly in their regulatory standing. Established in 2000, Questrade holds two Tier-1 licenses, making it a reputable choice for investors. With a Trust Score of 86 from ForexBrokers.com, Questrade is classified as a trusted broker, offering its users a relatively secure trading environment despite not being publicly traded or a bank.
LegacyFX, founded in 2012, holds one Tier-1 license. It has a ForexBrokers.com Trust Score of 67, placing it in the high-risk category. Like Questrade, LegacyFX isn't publicly traded or a bank, but its lower Trust Score suggests a greater degree of caution may be warranted for prospective customers. Both platforms remain unlisted on any stock exchanges, yet they cater to their clients with distinctive regulatory credentials in the online trading space.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Year Founded | 2000 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, LegacyFX edges out Questrade in third-party ratings but leaves more questions about real-world costs. LegacyFX earns 3.5 out of 5 stars and ranks #58 out of 63 for this category, while Questrade scores 3 out of 5 stars and ranks #59. Questrade does publish a target spread of 1.9 pips on EUR/USD, which is steep compared to the industry average, whereas LegacyFX doesn’t provide average spreads, making apples-to-apples comparisons difficult.
Questrade’s pricing leans on spreads rather than a separate commission for most forex trades. Its stated 1.9-pip target spread on EUR/USD can add up for active traders, contributing to its 3/5 star score and #59 ranking for commissions and fees.
LegacyFX’s costs vary by entity and account tier. In the EU (CySEC-regulated), it offers Silver ($500 minimum), Gold ($5,000), and Platinum ($25,000) accounts, with the lowest advertised spreads on Platinum and higher costs on Silver—where the minimum spread on EUR/USD can be as high as 1.6 pips. Its international (Vanuatu) entity adds more tiers—Standard ($500), Bronze ($1,000), Silver ($3,000), Gold ($5,000), Platinum ($10,000), Premium ($25,000), and VIP ($50,000)—with higher tiers offering more support and tools. However, because LegacyFX does not publish average spreads, the true cost of trading remains unclear despite its slightly better 3.5/5 star rating and #58 ranking.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $250 | $500 |
| Average spread (EUR/USD) - Standard account | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade and LegacyFX both let you trade forex as CFDs or spot, and both offer cryptocurrency CFDs (neither lets you buy and hold actual coins). For overall selection, Questrade lists 641 tradeable symbols, including 110 forex pairs, while LegacyFX lists 425 symbols with 44 forex pairs. A standout difference is stock access: Questrade lets clients buy exchange-traded securities on U.S. and international exchanges (for example, Apple on NASDAQ or Vodafone in London); LegacyFX does not offer direct share dealing. LegacyFX does include copy trading, which Questrade lacks.
In independent testing of the range of investments, Questrade earned 5 stars and ranked 12th out of 63 brokers at ForexBrokers.com, while LegacyFX received 3.5 stars and ranked 49th. Choose Questrade if you want a bigger lineup and the ability to own U.S. and global stocks; pick LegacyFX if you mainly trade CFDs and value built-in copy trading.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 425 |
| Forex Pairs (Total) | 110 | 44 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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). |
Dive deeper: Best Copy Trading Platforms.
Questrade vs LegacyFX: both brokers offer free demo accounts for paper trading, Windows desktop and web-based platforms, and the ability to place orders directly from charts. Questrade provides a proprietary, in-house platform, while LegacyFX does not; instead, LegacyFX stands out with MetaTrader 5 (MT5) and supports copy trading. Neither broker offers MetaTrader 4 (MT4).
For Trading Platforms and Tools, Questrade is rated 4 stars and ranks #35 out of 63 brokers on ForexBrokers.com, while LegacyFX is rated 3.5 stars and ranks #61. Choose Questrade if you want an in-house platform with standard desktop and browser access, or pick LegacyFX if MT5 and copy trading are priorities.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Questrade vs LegacyFX: both brokers offer iPhone and Android trading apps with price alerts, trendline drawing, and auto‑saved chart annotations. In third‑party reviews, Questrade earns 4 stars for mobile trading and ranks #35 out of 63 brokers at ForexBrokers.com, while LegacyFX scores 3.5 stars and ranks #62. If app quality and rankings matter to you, Questrade has the edge in this mobile trading app comparison.
Feature depth also differs. Questrade syncs your watchlist between the mobile app and your online account, but LegacyFX does not. For charting, Questrade includes 64 technical studies versus 30 on LegacyFX, giving more ways to analyze price action on the go. Traders who want watchlist syncing and a wider set of technical indicators may prefer Questrade, while LegacyFX covers the essentials across iPhone and Android with alerts and drawing tools.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
In this Questrade vs LegacyFX market research comparison, both brokers earn 3.5 stars; ForexBrokers.com ranks LegacyFX #47 and Questrade #52 out of 63. LegacyFX stands out with daily market commentary and integrated forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones. Questrade does not publish daily commentary, and access to similar premium news is not specified. Both brokers provide an economic calendar covering major global events.
On research tools, Questrade and LegacyFX each offer Autochartist. Questrade also includes Trading Central and TipRanks, while LegacyFX does not include Trading Central and its access to TipRanks is not specified. Neither broker features a sentiment-based positioning tool. Questrade does not list tools from Acuity Trading; LegacyFX’s support for Acuity Trading is not specified. Choose LegacyFX if you want built-in daily commentary and premium news, or go with Questrade if Trading Central and TipRanks are higher on your list.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary (Articles) | No | Yes |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | No | No |
| TipRanks | Yes | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners, both Questrade and LegacyFX provide at least 10 beginner-friendly video lessons that explain trading basics in plain language. If you like learning through live sessions, LegacyFX has an edge: it hosts online educational webinars at least once a month, while Questrade does not offer recurring client webinars. That makes LegacyFX more appealing if you want live explanations and a chance to ask questions as you learn.
As you progress, LegacyFX also offers at least 10 advanced videos for more experienced topics, whereas Questrade does not have a large advanced video library. Despite these differences, both brokers earn the same Education score—3.5 out of 5 stars—and sit close in rankings on ForexBrokers.com (LegacyFX #35 of 63; Questrade #36 of 63). In short, choose LegacyFX if you value ongoing webinars and a deeper path as you advance; pick Questrade if you’re comfortable with self-paced beginner videos and don’t need regular live events.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Questrade is better than LegacyFX. Questrade finished with an overall rank of #32, while LegacyFX finished with an overall rank of #63.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 67 |
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Questrade vs LegacyFX: Neither broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading.
Questrade vs LegacyFX deposits and withdrawals: Questrade supports bank wire transfers but not ACH or SEPA, PayPal, or Skrill, while LegacyFX also does not support ACH or SEPA and has no confirmed information on PayPal, Skrill, Visa/Mastercard, or bank wires.
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 | Questrade | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | Questrade Review | LegacyFX Review |
| Broker Screenshots | Questrade | LegacyFX | |
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| Regulation | Questrade | LegacyFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 2000 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Questrade | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Questrade | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | Questrade | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 425 | |
| Forex Pairs (Total) | 110 | 44 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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). |
| Cost | Questrade | LegacyFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Questrade | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $250 | $500 | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | Questrade | LegacyFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Questrade | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Questrade | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | ||
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | LegacyFX | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes |
| Major Forex Pairs | Questrade | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Questrade Review | LegacyFX Review |
| Overall | Questrade | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | Questrade Review | LegacyFX Review |
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