Written by ForexBrokers.com
In this head to head comparison of Swissquote 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.
Swissquote and LegacyFX offer pathways for online trading, but their regulatory footprints differ significantly. Founded in 1996, Swissquote stands out with its publicly traded status and a solid foundation as a bank. The company boasts a top-tier ForexBrokers.com Trust Score of 99, highlighting its highly trusted reputation. This score is backed by five Tier-1 licenses and two Tier-2 licenses. These credentials indicate strong reliability and security for users navigating the trading landscape.
Compared to Swissquote, LegacyFX, established in 2012, does not trade publicly and does not function as a bank. With a ForexBrokers.com Trust Score of 67, it falls into the high-risk category. LegacyFX holds one Tier-1 license and does not possess any Tier-2 licenses. While both platforms offer trading services, Swissquote’s extensive regulatory coverage and higher trust ratings suggest it provides a more secure environment for users seeking dependable trading options.
| Feature |
Swissquote
|
LegacyFX
|
|---|---|---|
| Year Founded | 1996 | 2012 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Swissquote and LegacyFX regarding commissions and fees, both brokers offer distinct value propositions, but neither stands out as an industry leader in this category. Swissquote, affiliated with a renowned Swiss banking conglomerate, provides different fee structures depending on its U.K., Luxembourg, and Swiss branches. The U.K. entity generally offers lower trading costs and deposit requirements, especially for active traders using the Elite account with its narrower spreads and $5 per round-turn trade commission. However, its Standard account spreads are less competitive, starting at 1.3 pips for EUR/USD. Meanwhile, Swissquote's Luxembourg and Swiss branches have similar account structures but vary in spreads and deposit prerequisites.
LegacyFX, offering entities in the EU and Vanuatu, also presents a varied account range. For EU clients, the Silver, Gold, and Platinum accounts require minimum deposits of $500, $5,000, and $25,000, respectively, with each tier providing progressively lower spreads. The minimum spread for the Silver account stands at 1.6 pips on the EUR/USD, indicating higher costs compared to more competitive brokers. International clients through the Vanuatu entity can choose from seven account types, with a broader emphasis on client support and trading tools depending on the account level. However, LegacyFX does not provide average spreads, making precise cost assessments challenging.
Both brokers receive a 3.5-star rating for commissions and fees. In ForexBrokers.com's ranking of 63 brokers, Swissquote stands at #53, while LegacyFX is positioned slightly lower at #57. These ratings and rankings suggest they provide reasonably fair trading conditions, although more competitive options are available in the forex brokerage market. Ideal clients for both services are those interested in their specific features beyond just pricing.
| Feature |
Swissquote
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $1000 | $500 |
| Average Spread EUR/USD - Standard | N/A | 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 comparing the range of investments available at Swissquote and LegacyFX, it's clear Swissquote has a slight edge. Both platforms offer forex trading as CFDs, but Swissquote boasts a larger selection of 472 tradeable symbols compared to LegacyFX's 425. For forex enthusiasts, Swissquote provides an impressive 80 tradeable currency pairs, while LegacyFX offers a more modest 44. Moreover, Swissquote allows investors to purchase exchange-traded securities from both U.S. and international exchanges, letting you own shares in companies like Apple and Vodafone directly. In contrast, LegacyFX does not support the purchase of exchange-traded securities from these global markets.
When it comes to cryptocurrency, Swissquote offers the option to buy both actual cryptocurrencies and their derivatives, whereas LegacyFX only provides the latter. Both brokers support copy trading, catering to those looking to mirror successful investment strategies. In terms of recognition, Swissquote shines with a 5-star rating for its investment range and ranks #2 out of 63 brokers according to ForexBrokers.com, a testament to its comprehensive offerings. LegacyFX, with a 3.5-star rating and positioned at #48, offers a solid platform, though with a less extensive selection of investment options.
| Feature |
Swissquote
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 472 | 425 |
| Forex Pairs (Total) | 80 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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 Swissquote and LegacyFX based on their trading platforms and tools, Swissquote emerges as the more feature-rich option for traders. Both brokers offer paper trading with free virtual demo accounts, providing an excellent opportunity for new and experienced traders to practice without financial risk. Swissquote stands out with its proprietary trading platform, developed in-house to offer a tailored experience. In contrast, LegacyFX does not offer a proprietary platform, which may limit some customization options for traders. Both platforms support Windows-based desktop downloads and web-based trading, making them versatile for different user preferences. MetaTrader 4, a favorite among many traders, is available with Swissquote but not with LegacyFX, although both brokers support the newer MetaTrader 5 platform.
For charting capabilities, Swissquote offers a wider range of drawing tools with 75 options, significantly more than the 15 provided by LegacyFX. This can be crucial for traders who rely heavily on technical analysis. Additionally, Swissquote allows for 11 columns in watchlists, compared to LegacyFX's 7, enabling more extensive tracking of market data. Both platforms facilitate trading directly from stock charts and offer copy trading features, providing flexibility and options for traders. Swissquote's superior features are reflected in its higher rating of 4.5 out of 5 stars for trading platforms and tools, standing 12th out of 63 brokers in a ForexBrokers.com ranking, while LegacyFX is rated 3.5 stars and ranks at the 60th position.
| Feature |
Swissquote
|
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 | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 86 | 30 |
| Charting - Drawing Tools (Total) | 75 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Swissquote and LegacyFX offer mobile trading apps that cater to iPhone and Android users, providing essential tools for traders on the go. These apps include stock and forex price alerts, the ability to draw trendlines, and options to view charts in multiple time frames such as daily, weekly, or intraday. Swissquote and LegacyFX both allow users to create watchlists with real-time quotes, although they do not feature watchlist symbol syncing between mobile apps and online accounts. In terms of technical analysis, each app provides users with 30 technical studies accessible via their charting systems, and both apps automatically save chart drawings, ensuring traders' efforts are preserved.
However, when it comes to user ratings and rankings, Swissquote slightly edges out with a 4.5-star rating, compared to LegacyFX's 3.5 stars for their mobile trading apps. Within the category of Mobile Trading Apps, ForexBrokers.com ranks Swissquote at number 12 out of 63 brokers, while LegacyFX lands at number 61. Both apps serve as solid options for traders, with Swissquote offering a slightly enhanced user experience for those seeking higher-rated features and performance.
| Feature |
Swissquote
|
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.
When comparing Swissquote and LegacyFX for market research, both brokers offer daily market commentary and provide forex news from prominent sources like Bloomberg and Reuters. They also have tools from Autochartist to assist with technical and fundamental analysis. However, neither broker offers resources from Trading Central or sentiment-based trading tools. Additionally, neither Swissquote nor LegacyFX utilizes research from TipRanks or Acuity Trading, such as Signal Centre. Both companies do include an economic calendar to help traders stay informed about global news events.
Despite their similarities, Swissquote stands out with a higher research rating of 4 stars compared to LegacyFX's 3.5 stars. In rankings by ForexBrokers.com, Swissquote is notably higher, placed at #16 out of 63 brokers, whereas LegacyFX sits at #46. This suggests that while both brokers offer a solid foundation for market research, Swissquote may provide a slightly more enhanced experience for traders seeking comprehensive insights and tools.
| Feature |
Swissquote
|
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 | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When exploring educational resources for beginner traders, both Swissquote and LegacyFX present a variety of options tailored to forex and CFDs enthusiasts. Swissquote offers a comprehensive range of educational pieces, including articles, videos, and archived webinars. LegacyFX matches this effort with its own suite of learning materials. Both brokers extend the learning experience by hosting at least one educational client webinar monthly, with searchable archives available for those who wish to revisit past lessons. This parallel approach helps new traders absorb crucial insights at their own pace. Additionally, each platform provides more than ten beginner-focused videos, ensuring novices have plenty to choose from as they embark on their trading journey.
For traders eager to deepen their understanding, both Swissquote and LegacyFX unveil a selection of over ten advanced educational videos, appealing to those with some market experience. Swissquote further engages learners with an investor dictionary featuring definitions for over 50 investing terms, a feature similarly offered by LegacyFX. However, Swissquote slightly edges out in perceived educational quality with a 4-star rating compared to LegacyFX's 3.5 stars. Furthermore, Swissquote secures the 21st spot in ForexBrokers.com's education rankings, considerably higher than LegacyFX's 35th position out of 63 brokers. This suggests Swissquote may offer a marginally richer educational experience for beginners diving into online trading.
| Feature |
Swissquote
|
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 Swissquote is better than LegacyFX. Swissquote finished with an overall rank of #11, while LegacyFX finished with an overall rank of #63.
Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.
| Feature |
Swissquote
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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Swissquote provides the capability to purchase actual delivered cryptocurrency, as well as cryptocurrency derivatives, while LegacyFX only offers the option to buy cryptocurrency derivatives, not the actual cryptocurrency.
Swissquote provides a diverse range of deposit and withdrawal options, including ACH/SEPA transfers, PayPal, Skrill, Visa/Mastercard, and bank wires, whereas LegacyFX does not support ACH/SEPA transfers or PayPal, but does offer Skrill, Visa/Mastercard, and 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 | Swissquote | LegacyFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | LegacyFX Review |
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| Regulation | Swissquote | LegacyFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1996 | 2012 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Swissquote | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | 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) | Swissquote | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Swissquote | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 472 | 425 | |
| Forex Pairs (Total) | 80 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Swissquote | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 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 | Swissquote | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $1000 | $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 | Swissquote | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Swissquote | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 86 | 30 | |
| Charting - Drawing Tools (Total) | 75 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Swissquote | 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 | Swissquote | 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 | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Swissquote | 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 | Swissquote | 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 | Swissquote Review | LegacyFX Review |
| Overall | Swissquote | LegacyFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | LegacyFX Review |
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