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 | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
ThinkMarkets offers a far broader range of investments than LegacyFX. You’ll find about 4,000 tradeable symbols at ThinkMarkets (including 46 forex pairs) versus roughly 425 at LegacyFX (44 forex pairs). Both brokers let you trade forex as CFDs or spot contracts. Neither provides access to U.S.-listed real shares, but ThinkMarkets does offer exchange-traded international shares (non-CFD), while LegacyFX does not. Both support copy trading. For crypto, neither sells actual coins, yet both allow trading cryptocurrency derivatives.
Independent ratings reflect this gap in choice: ThinkMarkets scores 4.5 out of 5 stars for Range of Investments and ranks 24th out of 63 brokers on ForexBrokers.com, while LegacyFX earns 3.5 stars and ranks 49th. If you want more markets and the ability to buy certain international shares outright, ThinkMarkets has the edge; if you just need core forex and CFD markets with copy trading, LegacyFX covers the basics.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 425 |
| Forex Pairs (Total) | 46 | 44 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
ThinkMarkets and LegacyFX both provide free demo (paper) accounts, plus trading platforms for Windows and the web. ThinkMarkets also offers its own in-house platform, while LegacyFX relies on third-party platforms. Copy trading is available at both brokers. For MetaTrader, ThinkMarkets supports both MT4 and MT5, whereas LegacyFX offers MT5 but not MT4. Both brokers let you place trades directly from charts.
For charting, each broker lists 15 drawing tools; indicator counts are not disclosed. Watchlists are more detailed at ThinkMarkets with 15 columns versus 7 at LegacyFX. In ForexBrokers.com’s Trading Platforms and Tools ratings, ThinkMarkets scores 4 stars and ranks 28th out of 63 brokers, while LegacyFX scores 3.5 stars and ranks 61st, giving ThinkMarkets the edge in this category.
| Feature |
ThinkMarkets
|
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) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing ThinkMarkets vs LegacyFX for mobile trading: both brokers offer iPhone and Android apps with price alerts and real-time watchlists. Charting essentials are covered on each app, including drawing trendlines, switching between multiple time frames, and auto-saving chart drawings. The main limitation for both is that watchlists created on mobile do not sync with the client’s online account.
ThinkMarkets stands out for charting depth, offering 94 technical studies in its mobile app compared with 30 on LegacyFX. That extra range of indicators helps explain ThinkMarkets’ higher mobile rating (4 stars vs. 3.5 stars) and its stronger placement in ForexBrokers.com’s rankings (#20 out of 63 vs. LegacyFX at #62). If you value more indicators and higher-rated app experience, ThinkMarkets may be the better fit; LegacyFX still delivers the core tools traders expect on the go.
| Feature |
ThinkMarkets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | 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.
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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing ThinkMarkets and LegacyFX, both online brokers offer a strong foundation for beginners seeking to learn about forex and CFDs. Each provides over ten educational resources, which can include articles, videos, and archived webinars to help new traders understand the basics. Both platforms host online educational webinars monthly to keep their users updated and engaged, along with maintaining searchable archives for those who wish to revisit these sessions. Furthermore, they each offer over ten educational videos specifically designed for novice traders, as well as separate advanced materials for experienced traders. To enhance user understanding, both brokers also provide an investor dictionary containing definitions for over 50 vital investing terms.
While the educational resources offered by ThinkMarkets and LegacyFX are largely comparable, there are some differences in recognition and ranking. Both have received a 3.5-star rating for their educational offerings. However, LegacyFX is ranked slightly higher, at 35th out of 63 brokers by ForexBrokers.com in the Education category, compared to ThinkMarkets, which is ranked 52nd. This difference suggests that while both platforms provide valuable educational resources, LegacyFX may have a slight edge in user satisfaction or perceived quality within the educational segment. Ultimately, both brokers offer comprehensive educational tools suitable for those beginning their trading journey.
| Feature |
ThinkMarkets
|
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 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
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 67 |
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Both ThinkMarkets and LegacyFX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
ThinkMarkets and LegacyFX both do not support ACH or SEPA transfers and PayPal for depositing or withdrawing funds, but they do offer options like Skrill, Visa or Mastercard, and bank wire transfers for seamless transaction processes.
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/Central Bank 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. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 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 | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $500 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | ThinkMarkets | 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 | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 15 | 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 | ThinkMarkets | 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 | 94 | 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 | ThinkMarkets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | 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 | ThinkMarkets | 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 |
| Overall | ThinkMarkets | LegacyFX | |
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| Trust Score | 92 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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