Written by ForexBrokers.com
In this head to head comparison of TopFX 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.
Founded in 2010, TopFX and LegacyFX, established in 2012, are both online brokers that have distinct reputations in the trading industry. Neither TopFX nor LegacyFX are publicly traded or function as banks, and each holds one Tier-1 license, signifying a high level of trust according to ForexBrokers.com. Although their regulatory frameworks appear similar, their ForexBrokers.com Trust Scores indicate a higher level of risk, both standing at 67 out of 99, placing them in the high-risk category.
Both TopFX and LegacyFX operate without Tier-2 licenses, which might be a factor in their current Trust Scores. While both brokers demonstrate an ability to maintain a singular highly-trusted Tier-1 license, potential clients should be aware of the risks, considering their Trust Scores suggest a need for caution when engaging with either broker for trading activities.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Year Founded | 2010 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
TopFX and LegacyFX are two online brokers with distinct approaches to commissions and fees. TopFX provides traders with two main account types: the spread-only ZERO account and the commission-based RAW account. The RAW account involves a commission charge of 2.75 EUR per side, translating to 5.50 EUR for a complete trade on a standard lot. Traders opting for the commission-based account experienced average spreads of 0.33 pips for EUR/USD in July 2024, culminating in total costs of approximately 0.88 pips per round turn, aligning with industry standards. Alternatively, the ZERO account, while commission-free, presented higher average spreads of 1.03 pips. TopFX earns a 4 out of 5-star rating and ranks 40th out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com.
LegacyFX offers varied account structures depending on the regulatory entity involved. For EU residents under CySEC regulation, the broker provides Silver, Gold, and Platinum account options, with minimum deposits set at $500, $5,000, and $25,000, respectively. The lowest advertised spreads are observed with the Platinum account, while the Silver account faces higher costs with minimum spreads starting at 1.6 pips for EUR/USD. Meanwhile, LegacyFX's international clients under the Vanuatu entity can access seven account types, from Standard to VIP, with minimum deposits ranging from $500 to $50,000. Each account level comes with distinct support and tool access. LegacyFX holds a 3.5 out of 5-star rating and is positioned 57th out of 63 brokers in the same category.
In comparison, TopFX's straightforward account types and transparent fee structure offer an edge with its RAW account's competitive costs. LegacyFX's diversity in account offerings provides flexibility, although the lack of available average spread data hinders a direct cost assessment. Overall, while both brokers cater to different trading needs and profiles, TopFX may appeal to those prioritizing clarity in commissions, whereas LegacyFX could be preferred by traders seeking a broad variety of account specifications and additional services.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | Depends on payment method | $500 |
| Average Spread EUR/USD - Standard | 1.03 | N/A |
| All-in Cost EUR/USD - Active | 0.88 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | 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.
TopFX and LegacyFX both offer forex trading as a CFD or spot contract, providing traders with ample opportunities in the currency markets. TopFX shines with a more extensive range of 655 tradeable symbols, compared to LegacyFX's 425. In terms of tradeable forex pairs, TopFX again takes the lead with 60 offerings while LegacyFX presents 44. Neither broker provides exchange-traded securities on U.S. or international exchanges, and neither offers the purchase of actual cryptocurrencies. However, both brokers allow trading of cryptocurrency derivatives and facilitate copy trading.
When evaluating the range of investments, both TopFX and LegacyFX receive a rating of 3.5 out of 5 stars. Still, TopFX holds a slightly better ranking than LegacyFX, positioned at 46 out of 63 brokers according to ForexBrokers.com, with LegacyFX trailing at 48. This similar rating indicates that while both brokers offer a comparable investment range, the wider selection of tradeable symbols and forex pairs at TopFX may have contributed to its marginally higher ranking.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 655 | 425 |
| Forex Pairs (Total) | 60 | 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 (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 TopFX and LegacyFX, both online brokers provide a variety of trading platforms and tools to facilitate trading for their users. Importantly, each company offers access to simulated trading through free virtual demo accounts, allowing users to practice their trading strategies without financial risk. TopFX and LegacyFX do not have their own proprietary platforms but support multiple trading interfaces. Both brokers offer Windows-based desktop download options and web-based platforms, catering to different user preferences. However, TopFX offers MetaTrader 4, while LegacyFX provides access to MetaTrader 5. Both brokers offer copy trading services, making them appealing to traders looking to replicate the activities of more experienced individuals. While neither broker offers DupliTrade or ZuluTrade, they both support trading directly from stock charts and supply an equal number of drawing tools for charting at 15. They also provide identical watch list capabilities, allowing users to view seven columns or fields.
In terms of performance, TopFX is rated higher than LegacyFX for its trading platforms and tools, receiving 4 out of 5 stars compared to LegacyFX's 3.5 stars. This discrepancy reflects in their rankings, with TopFX positioned at #45 and LegacyFX at #60 among 63 brokers assessed by ForexBrokers.com. Despite these differences, both brokers are equipped with necessary features to support traders in executing informed trades. Whether users prioritize the usability of MT4 with TopFX or prefer the advanced features of MT5 available with LegacyFX, each broker offers substantial trading platforms tailored for diverse trading styles.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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) | No | 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 | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
TopFX and LegacyFX both equip their users with mobile trading apps available on Android and iOS platforms. These apps offer important functions like price alerts for stocks or forex, and the ability to draw trendlines on charts. Both providers deliver a solid selection of 30 technical studies for in-depth chart analysis. You can seamlessly toggle through multiple timeframes such as daily, weekly, or intraday, and even create watchlists with real-time quotes on either app. However, neither app supports watchlist symbol syncing between different devices, an area where other platforms could have an edge.
While both TopFX and LegacyFX make it easy to save your chart drawings automatically, a discernible difference lies in user ratings. TopFX earns a commendable 4-star rating for its mobile app, positioning it at #51 among 63 brokers according to ForexBrokers.com. On the other hand, LegacyFX receives a slightly lower rating of 3.5 stars, placing it at #61. Overall, each app provides a comprehensive trading toolkit for mobile users, yet TopFX appears to have a slight advantage in user satisfaction and industry ranking.
| Feature |
TopFX
|
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 the research offerings of online brokers TopFX and LegacyFX, it's important to delve into specific features that may appeal to traders. LegacyFX distinguishes itself by providing daily market commentary, which can be invaluable for traders wanting daily expert insights. Both platforms cater to traders seeking comprehensive market updates by offering forex news from reputable sources such as Bloomberg and Reuters. Additionally, both brokers equip their clients with technical analysis tools offered by Autochartist. However, TopFX inches ahead by also providing research tools from Trading Central, a feature not available with LegacyFX. Furthermore, TopFX offers a sentiment analysis tool that gives traders visibility into the ratios of long or short positions across various instruments, while LegacyFX lacks this feature.
Both brokers ensure traders are well-informed about global economic events by offering economic calendars. Despite TopFX’s additional tool offerings, its research capabilities are rated at 3 stars, lower than LegacyFX's 3.5 stars. Furthermore, in the ForexBrokers.com Research rankings, LegacyFX is positioned higher at #46, compared to TopFX's ranking at #60 out of 63 brokers. This suggests that while TopFX provides some unique tools, LegacyFX is recognized for slightly superior research services overall. When choosing between the two, traders need to consider what specific research tools and market insights align best with their trading strategies.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When examining the educational support offered to beginners by online brokers TopFX and LegacyFX, there are notable differences that could influence your decision. TopFX seems to fall short in several areas. It does not provide a collection of educational materials focused on forex and CFDs, nor does it host regular webinars or maintain an archive of them for learners to revisit. For those starting out, the absence of beginner and advanced trading videos is a significant gap, and its lack of an investor dictionary means newcomers must seek this foundational knowledge elsewhere. TopFX's education offerings earn it a modest three-star rating, landing it near the bottom of ForexBrokers.com's rankings.
LegacyFX, in contrast, presents a more beginner-friendly approach with a comprehensive range of resources. It boasts over ten educational pieces focusing on forex and CFDs, ensuring that beginners have ample material to kick off their learning journey. With monthly webinars and an archive of past sessions, clients have regular opportunities to learn from experts. LegacyFX also shines with its selection of beginner and advanced educational videos, catering to both novice and experienced traders. The inclusion of an investor dictionary further aids in demystifying complex terms. Collectively, these resources position LegacyFX well above its competitor with a 3.5-star rating, ranking it more favorably in the education category.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that TopFX is better than LegacyFX. TopFX finished with an overall rank of #62, while LegacyFX finished with an overall rank of #63.
TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.
| Feature |
TopFX
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LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 67 | 67 |
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Both TopFX and LegacyFX provide investors with the opportunity to trade cryptocurrency derivatives, although neither platform supports purchasing actual (delivered) cryptocurrency assets.
When comparing the online brokers TopFX and LegacyFX in terms of funding options, TopFX offers PayPal, Skrill, Visa or Mastercard, and bank wires, while LegacyFX provides funding options such as Skrill, Visa or Mastercard, and bank wires, but does not offer PayPal; neither broker supports ACH or SEPA transfers for transactions.
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 | TopFX | LegacyFX | |
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| Trust Score | 67 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review | LegacyFX Review |
| Broker Screenshots | TopFX | LegacyFX | |
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| Regulation | TopFX | LegacyFX | |
|---|---|---|---|
| Trust Score | 67 | 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 | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | TopFX | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | TopFX | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TopFX | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 655 | 425 | |
| Forex Pairs (Total) | 60 | 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 (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 | TopFX | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.03 | N/A | |
| All-in Cost EUR/USD - Active | 0.88 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TopFX | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | Depends on payment method | $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 | No | No |
| Trading Platforms | TopFX | 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) | No | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TopFX | 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 Trading | TopFX | 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 | TopFX | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TopFX | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | TopFX | 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 | TopFX Review | LegacyFX Review |
| Overall | TopFX | LegacyFX | |
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| Trust Score | 67 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review | LegacyFX Review |
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