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RoboForex (RoboMarkets) vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is RoboForex (RoboMarkets) better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, RoboForex is considered average-risk, with an overall Trust Score of 69 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 RatingRoboForex (RoboMarkets)LegacyFX
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 3.5/5 Stars
Offering of Investments 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 3.5/5 Stars 3.5/5 Stars
Education 3/5 Stars 3.5/5 Stars
Trust Score 69 67
Winner check_circle
Review LegacyFX Review
RegulationRoboForex (RoboMarkets)LegacyFX
Trust Score 69 67
Year Founded 2009 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 1 1
Tier-1 Licenses (High Trust)RoboForex (RoboMarkets)LegacyFX
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)RoboForex (RoboMarkets)LegacyFX
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)RoboForex (RoboMarkets)LegacyFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) Yes 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
InvestmentsRoboForex (RoboMarkets)LegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 12000 425
Forex Pairs (Total) 36 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).
CostRoboForex (RoboMarkets)LegacyFX
Average Spread EUR/USD - Standard 1.4 info N/A
All-in Cost EUR/USD - Active N/A N/A
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingRoboForex (RoboMarkets)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
Trading PlatformsRoboForex (RoboMarkets)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 ToolsRoboForex (RoboMarkets)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 TradingRoboForex (RoboMarkets)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
Forex Calendar Yes Yes
ResearchRoboForex (RoboMarkets)LegacyFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs No No
Economic Calendar Yes Yes
EducationRoboForex (RoboMarkets)LegacyFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos No Yes
Videos - Advanced Trading Videos No Yes
Investor Dictionary (Glossary) No Yes
Major Forex PairsRoboForex (RoboMarkets)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 LegacyFX Review
OverallRoboForex (RoboMarkets)LegacyFX
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 3.5/5 Stars
Offering of Investments 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 3.5/5 Stars 3.5/5 Stars
Education 3/5 Stars 3.5/5 Stars
Trust Score 69 67
Winner check_circle
Review LegacyFX Review
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RoboForex (RoboMarkets) 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 RoboForex (RoboMarkets) vs LegacyFX.

Does RoboForex (RoboMarkets) 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, RoboForex (RoboMarkets) offers better pricing overall for traders.

Is RoboForex (RoboMarkets) 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 RoboForex (RoboMarkets) and LegacyFX hold 0 global Tier-1 licenses. Both RoboForex (RoboMarkets) and LegacyFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, RoboForex (RoboMarkets) earned a higher Trust Score than LegacyFX.

Which trading platform is better: RoboForex (RoboMarkets) or LegacyFX?

To compare the trading platforms of both RoboForex (RoboMarkets) and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, RoboForex (RoboMarkets) offers a better experience. With research, RoboForex (RoboMarkets) offers superior market research. Finally, we found RoboForex (RoboMarkets) 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.RoboForex (RoboMarkets) 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 RoboForex (RoboMarkets)'s 36 available pairs. Forex pairs aside, RoboForex (RoboMarkets) offers traders access to 12000 CFDs while LegacyFX has 425 available CFDs, a difference of 11575.

Can I trust RoboForex (RoboMarkets)?

RoboForex is not publicly traded and does not operate a bank. RoboForex is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one 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 RoboForex (RoboMarkets) good?

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.

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: RoboForex (RoboMarkets)

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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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