Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets 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.
ThinkMarkets and LegacyFX are both established online brokers, with ThinkMarkets founded in 2010 and LegacyFX in 2012. Neither of these brokers is publicly traded or operates as a bank. When it comes to regulatory compliance, ThinkMarkets stands out with five Tier-1 licenses and a ForexBrokers.com Trust Score of 92, marking it as highly trusted. In comparison, LegacyFX holds one Tier-1 license and has a Trust Score of 67, indicating a higher level of risk.
While ThinkMarkets also boasts two Tier-2 licenses, further underpinning its reputation for trustworthiness, LegacyFX does not hold any Tier-2 licenses. For those prioritizing regulatory security and trust, ThinkMarkets clearly has the edge with its stronger licensing and higher Trust Score.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2010 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
Comparing commissions and fees, both ThinkMarkets and LegacyFX don’t publish average spread data, which makes it harder to estimate typical trading costs. Even so, ThinkMarkets holds an edge in this category with a 4-star rating and a #48 ranking out of 63 brokers from ForexBrokers.com, while LegacyFX is rated 3.5 stars and ranked #58 out of 63.
ThinkMarkets: With no average spreads available, pricing transparency is limited. Still, its 4-star commissions-and-fees rating and #48/63 ranking suggest better overall value versus LegacyFX based on the methodology used by ForexBrokers.com.
LegacyFX: Fees vary by entity and account type. In the EU (CySEC), the Silver, Gold, and Platinum accounts require minimum deposits of $500, $5,000, and $25,000, respectively; the Silver account carries noticeably higher costs, with minimum spreads starting at 1.6 pips on EUR/USD, while Platinum is lower. Internationally (Vanuatu), seven tiers range from Standard ($500) up to VIP ($50,000), with extras like mentoring and trading-desk access scaling by account. Because average spreads aren’t published, the true cost is unclear. LegacyFX earns a 3.5-star rating and ranks #58/63 for commissions and fees.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $50 | $500 |
| Average spread (EUR/USD) - Standard account | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | ||
| Bank Wire (Deposit/Withdraw) |
Dive deeper: Best Low Spread Forex Brokers.
ThinkMarkets offers a wider range of investments than LegacyFX, with about 4,000 tradeable symbols versus 425. Forex traders get 46 currency pairs at ThinkMarkets and 44 at LegacyFX. Both brokers support forex trading (CFDs/spot), copy trading, and cryptocurrency CFDs; neither lets you buy actual crypto. According to ForexBrokers.com, ThinkMarkets earns 4.5/5 stars for Range of Investments and ranks 24th out of 63 brokers, while LegacyFX scores 3.5/5 and ranks 49th.
For exchange-traded securities, neither broker offers real U.S.-listed shares like Apple. ThinkMarkets does provide access to real international shares on select exchanges, while LegacyFX does not. If you want more instruments and a slightly larger forex lineup, ThinkMarkets is the broader choice; if you only need core markets with copy trading and crypto via CFDs, LegacyFX can still fit the bill.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 425 |
| Forex Pairs (Total) | 46 | 44 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | 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). | 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.
ThinkMarkets and LegacyFX both make it easy to get started with a free demo account for paper trading, and each supports web-based and Windows desktop platforms, copy trading, and trading directly from charts. The key difference is platform choice: ThinkMarkets offers a proprietary in-house platform alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX does not have its own platform and skips MT4, focusing instead on MT5. If you want MT4 or an extra, broker-built platform option, ThinkMarkets has the edge; if you only need MT5 and standard features like copy trading, both brokers fit the bill.
For “Trading Platforms and Tools,” ForexBrokers.com rates ThinkMarkets at 4 stars and LegacyFX at 3.5 stars. In the same category, ThinkMarkets ranks #28 out of 63 brokers, while LegacyFX ranks #61. In short, ThinkMarkets earns higher marks for platform variety and tools, whereas LegacyFX delivers a simpler, MT5-centered setup.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing ThinkMarkets vs LegacyFX for mobile trading, both brokers provide iPhone and Android apps with helpful price alerts. Each app lets you draw trendlines on charts, and your drawings auto-save so you don’t lose work. A key limitation for both: watchlists don’t sync between the mobile app and your online account, so changes made in one place won’t appear in the other.
For charting depth, ThinkMarkets stands out with 94 technical studies, while LegacyFX offers 30. That extra range may appeal to traders who rely on indicators for analysis. In our ratings, ThinkMarkets earns 4 stars and ranks #20 out of 63 brokers for Mobile Trading Apps at ForexBrokers.com, whereas LegacyFX scores 3.5 stars and ranks #62. If you want more built-in studies, ThinkMarkets is the stronger choice; if you just need core tools and alerts, LegacyFX covers the basics on both iPhone and Android.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
ThinkMarkets and LegacyFX both deliver daily market commentary, premium forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and an economic calendar to track key events. The main differences show up in their tools: LegacyFX includes Autochartist for technical and fundamental ideas, while ThinkMarkets does not. ThinkMarkets offers a sentiment tool that shows the ratio of long vs. short positions, which LegacyFX lacks. Neither broker provides Trading Central. ThinkMarkets integrates research tools from Acuity Trading (e.g., Signal Centre); LegacyFX’s use of Acuity Trading and TipRanks is not specified. ThinkMarkets does not include TipRanks.
Both brokers earn 3.5 out of 5 stars for Research on ForexBrokers.com. In the category rankings out of 63 brokers, LegacyFX sits at #47, while ThinkMarkets is #51. If you want Autochartist, LegacyFX stands out. If you value sentiment analysis and Acuity Trading tools, ThinkMarkets is the better fit.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
ThinkMarkets and LegacyFX both deliver forex and CFD education suitable for beginners. Each broker provides at least 10 educational pieces and goes further with a sizable video library: a minimum of 10 beginner videos and 10 advanced videos, plus ongoing client webinars at least once a month. This mix of self-paced lessons and live sessions helps new traders learn core concepts, ask questions, and progress to more advanced topics over time.
Both brokers earn 3.5 out of 5 stars for Education. However, in ForexBrokers.com’s Education category, LegacyFX ranks #35 out of 63 brokers, while ThinkMarkets ranks #52 out of 63. For beginners comparing ThinkMarkets vs. LegacyFX, the overall rating is tied, but LegacyFX’s higher category ranking suggests a slight edge in educational breadth or usability. Either way, new traders will find plenty of beginner-friendly content with both providers.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that ThinkMarkets is better than LegacyFX. ThinkMarkets finished with an overall rank of #27, while LegacyFX finished with an overall rank of #63.
ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.
| Feature |
ThinkMarkets
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 67 |
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ThinkMarkets vs LegacyFX: neither online broker allows you to buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading.
In this ThinkMarkets vs LegacyFX comparison of online broker payment methods, both brokers do not support ACH or SEPA transfers for deposits or withdrawals, while details about PayPal, Skrill, Visa/Mastercard, and bank wire options are not provided.
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 | ThinkMarkets | LegacyFX | |
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| Trust Score | 92 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Trust Score | 92 | 67 | |
| Year Founded | 2010 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | 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 | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | 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) | No | 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) | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 425 | |
| Forex Pairs (Total) | 46 | 44 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | 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). | 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 | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $500 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | |||
| Bank Wire (Deposit/Withdraw) | |||
| Non-wire bank transfer | No | No |
| Trading Platforms | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No |
| Trading Tools | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 94 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | No | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | LegacyFX Review |
| Overall | ThinkMarkets | LegacyFX | |
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| Trust Score | 92 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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