Written by ForexBrokers.com
In this head to head comparison of RoboForex 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.
RoboForex, founded in 2009, and LegacyFX, established in 2012, are two popular online brokers in the industry. Neither is publicly traded or operates as a bank. RoboForex holds one Tier-1 license, positioning it as a generally reliable option, reflected in its Trust Score of 73, which falls within the average risk category according to ForexBrokers.com. This rating suggests users should approach with a standard level of caution typical in the online brokerage space.
Similarly, LegacyFX holds one Tier-1 license, aligning it with RoboForex in terms of regulatory trustworthiness. However, with a Trust Score of 67, LegacyFX is classified as a higher risk option compared to RoboForex, as it borders closer to the high-risk category. While it remains a plausible choice for trading, potential clients might consider its score when evaluating their options, balancing the associated risk and the services provided.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Year Founded | 2009 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing the commissions and fees of RoboForex and LegacyFX, both brokers present unique cost structures. RoboForex features average spreads of 1.3 pips on the EUR/USD pair for their Procent and Pro accounts, which are relatively high. LegacyFX provides a wider range of account options, with differing costs depending on their EU entity regulated by CySEC or their international entity in Vanuatu. However, the specific average spreads for LegacyFX remain undisclosed, creating uncertainty around the true cost of trading. RoboForex holds a 3.5-star rating in this category and ranks 55th out of 63 brokers according to ForexBrokers.com.
LegacyFX offers different account tiers with varied minimum deposits, affecting trading costs and services. For European clients, the Silver, Gold, and Platinum accounts demand deposits of $500, $5,000, and $25,000, respectively, with the Platinum account featuring the most favorable spreads. Internationally, LegacyFX offers seven account types from Standard to VIP, with deposits ranging from $500 to $50,000, each with its own set of benefits like mentoring and advanced trading tools access. Despite numerous account options, LegacyFX also holds a 3.5-star rating for commissions and fees but is ranked 57th out of 63 brokers in this category by ForexBrokers.com.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $500 |
| Average Spread EUR/USD - Standard | 1.3 | N/A |
| All-in Cost EUR/USD - Active | N/A | 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.
When examining the range of investments offered, RoboForex and LegacyFX both provide opportunities for forex trading through CFDs or spot contracts. RoboForex stands out with its impressive offering of 8,400 tradeable symbols compared to LegacyFX's 425. However, LegacyFX leads in the availability of forex pairs, offering 44 compared to RoboForex's 28. Neither platform supports direct trading of exchange-traded securities in the U.S. or international markets, making them comparable in this aspect. Both brokers offer copy trading, which is an attractive feature for those looking to follow and replicate the trades of successful investors.
In the realm of cryptocurrency, RoboForex and LegacyFX do not allow the purchase of actual cryptocurrencies, but they both offer derivatives tied to these digital assets. Considering the overall range of investment options, RoboForex has a higher rating of 4.5 stars compared to LegacyFX's 3.5 stars. As such, RoboForex ranks as the 20th out of 63 brokers in its category on ForexBrokers.com, while LegacyFX holds the 48th position, indicating RoboForex's broader reach for diverse investment opportunities.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8400 | 425 |
| Forex Pairs (Total) | 28 | 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 the trading platforms and tools of RoboForex and LegacyFX, both brokers provide traders with useful features. Each of them offers a free virtual demo account for simulated trading, allowing users to practice and hone their skills risk-free. While neither broker offers a proprietary platform, both provide a Windows-based desktop platform and a convenient web-based trading system. Although RoboForex integrates the widely used MetaTrader 4 (MT4) platform, LegacyFX opts out, while both support MetaTrader 5 (MT5). Copy trading is available with both brokers, but options like DupliTrade and ZuluTrade are not included in their offerings.
Analyzing their charting tools, both RoboForex and LegacyFX provide 15 drawing tools, offering the capability to trade directly from stock charts. For watchlists, they allow customization with 7 different fields. Despite their similarities, RoboForex edges out slightly with a 4-star rating for Trading Platforms and Tools, whereas LegacyFX holds a 3.5-star rating. According to ForexBrokers.com rankings, RoboForex stands at #43, while LegacyFX is positioned at #60 among 63 brokers, highlighting a slight preference for RoboForex in terms of platform features and capabilities.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
RoboForex and LegacyFX both offer comprehensive mobile trading apps compatible with iPhone and Android devices. Users of either app can enjoy stock or forex price alerts and have the ability to draw trendlines on charts. Both apps allow users to view multiple time frames on charts and automatically save any drawings. Real-time quote watchlists are available, although neither app supports sync between the watchlists on the mobile app and the online account.
In terms of charting, both RoboForex and LegacyFX provide 30 technical studies. RoboForex's mobile app has a slight edge with a 4-star rating, compared to LegacyFX's 3.5 stars. Additionally, in the ForexBrokers.com rankings for Mobile Trading Apps, RoboForex holds the 43rd spot, while LegacyFX is ranked 61st out of 63 brokers. These ratings suggest that users may find a more favorable experience with RoboForex's mobile trading platform.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | 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 |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both RoboForex and LegacyFX excel in providing daily market commentary and offer forex news from some of the most respected sources like Bloomberg and Reuters. However, when it comes to specific analysis tools, the two platforms offer distinct features. RoboForex includes tools from Trading Central, which provide excellent resources for technical analysis. They also feature research tools from Acuity Trading, such as Signal Centre, which further enhances their market analysis offerings. On the other hand, LegacyFX offers services from Autochartist, a popular tool for technical and fundamental research, but lacks Trading Central integration, providing a different analytical approach for users.
Both brokers provide access to a detailed economic calendar, keeping traders informed of global news events. Despite these comprehensive features, both platforms share a similar research rating of 3.5 stars out of five and have a significant presence among brokers. RoboForex ranks slightly higher at #37 compared to LegacyFX’s #46 in the research category, reflecting their somewhat stronger position in delivering market research tools and resources. Each platform has its strengths, giving traders the flexibility to choose based on their preferred analysis tools and research needs.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, LegacyFX surpasses RoboForex by offering a more comprehensive platform for learning. LegacyFX provides a wealth of information with over ten educational pieces focused on forex and CFDs, alongside a schedule of regular educational webinars each month. For those who prefer learning at their own pace, LegacyFX’s extensive archive of recorded webinars offers ease of access to past events. In contrast, RoboForex does not meet these educational benchmarks, falling short in offering sufficient articles or videos and lacking monthly webinars or an archive for easy review.
The depth of LegacyFX's educational content extends to more than just beginner-centered materials. It also features over ten advanced educational videos aimed at experienced traders and includes an investor dictionary with more than 50 investing terms. These resources make it an appealing choice for traders who are serious about understanding the market in depth. Despite both platforms sharing a 3.5-star rating in education, LegacyFX holds a stronger ranking at #35 in the education category, significantly ahead of RoboForex, which is ranked at #56 according to ForexBrokers.com.
| Feature |
RoboForex
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 RoboForex is better than LegacyFX. RoboForex finished with an overall rank of #46, while LegacyFX finished with an overall rank of #63.
RoboForex (RoboMarkets in the EU) has amassed 12,000 symbols that you can trade across its MetaTrader and cTrader platforms, as well as a stock trading app. That said, with just a few regulatory licenses, the RoboForex and its RoboMarkets brands trail behind the best forex brokers when it comes to their Trust Score.
| Feature |
RoboForex
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LegacyFX
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|---|---|---|
| Overall Rating |
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| Trust Score | 73 | 67 |
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Both RoboForex and LegacyFX do not offer the option to buy actual delivered cryptocurrency, but they do provide opportunities to trade cryptocurrency derivatives.
When choosing between RoboForex and LegacyFX for online trading, consider that RoboForex supports a broader range of payment methods including ACH and SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas LegacyFX offers Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options.
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 | RoboForex | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | RoboForex Review | LegacyFX Review |
| Broker Screenshots | RoboForex | LegacyFX | |
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| Regulation | RoboForex | LegacyFX | |
|---|---|---|---|
| Trust Score | 73 | 67 | |
| Year Founded | 2009 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | RoboForex | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | No | 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) | RoboForex | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | RoboForex | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8400 | 425 | |
| Forex Pairs (Total) | 28 | 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 | RoboForex | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | RoboForex | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | RoboForex | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 Tools | RoboForex | LegacyFX | |
|---|---|---|---|
| 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 Trading | RoboForex | LegacyFX | |
|---|---|---|---|
| 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 | |
| Mobile Economic Calendar | Yes | Yes |
| Research | RoboForex | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | RoboForex | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | RoboForex | 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 | RoboForex Review | LegacyFX Review |
| Overall | RoboForex | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | RoboForex Review | LegacyFX Review |
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