ThinkMarkets 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 ThinkMarkets vs LegacyFX.
Does ThinkMarkets 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, ThinkMarkets offers better pricing overall for traders.
Is ThinkMarkets 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. ThinkMarkets holds 5 global Tier-1 licenses, while LegacyFX holds 1. ThinkMarkets holds 1 global Tier-2 licenses, while LegacyFX holds 0. In our analysis of 23 international regulators across 50 brokers, ThinkMarkets (88) earned a higher Trust Score than LegacyFX (67).
Which trading platform is better: ThinkMarkets or LegacyFX?
To compare the trading platforms of both ThinkMarkets and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, ThinkMarkets offers a better experience. With research, LegacyFX offers superior market research. Finally, we found ThinkMarkets 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.ThinkMarkets and LegacyFX both offer copy trading.
How many forex pairs and CFDs are available to trade?
ThinkMarkets provides traders 46 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. Forex pairs aside, ThinkMarkets offers traders access to 4000 CFDs while LegacyFX has 425 available CFDs, a difference of 3575.
Can I trust ThinkMarkets?
ThinkMarkets is not publicly traded and does not operate a bank. ThinkMarkets is authorised by five tier-1 regulators (Highly Trusted), one tier-2 regulator (Average Risk), zero tier-3 regulators (low trust), and two tier-4 regulators (High Risk). ThinkMarkets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Financial Markets Authority (FMA), Financial Conduct Authority (FCA), and the European Union Authorized (MiFID).
Can I trust LegacyFX?
LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). LegacyFX is authorised by the following tier-1 regulators: European Union Authorized (MiFID).
Is ThinkMarkets good?
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.
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: ThinkMarkets
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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.