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Trade Nation vs LegacyFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Trade Nation better than LegacyFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Trade Nation is considered average-risk, with an overall Trust Score of 83 out of 99. LegacyFX is considered average-risk, with an overall Trust Score of 66 out of 99. Learn more about Trust Score.

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Overall RatingTrade NationLegacyFX
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score 83 67
Winner check_circle
Review Trade Nation Review LegacyFX Review
RegulationTrade NationLegacyFX
Trust Score 83 67
Year Founded 2014 2012
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info Yes info
Tier-1 Licenses 2 0
Tier-2 Licenses 1 1
Tier-3 Licenses 1 1
Tier-1 Licenses (High Trust)Trade NationLegacyFX
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Trade NationLegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) Yes No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)Trade NationLegacyFX
SCB Authorised (Bahamas) Yes No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No Yes
InvestmentsTrade NationLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 601 425
Forex Pairs (Total) 33 44
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading No Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostTrade NationLegacyFX
Average Spread EUR/USD - Standard 0.6 N/A
All-in Cost EUR/USD - Active 0.6 N/A
Active Trader or VIP Discounts No Yes
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingTrade NationLegacyFX
Minimum Deposit $0 $500
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsTrade NationLegacyFX
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading No Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsTrade NationLegacyFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 12 7
Charting - Indicators / Studies (Total) 35 30
Charting - Drawing Tools (Total) 95 15
Charting - Trade From Chart No Yes
Charts can be saved No Yes
Mobile TradingTrade NationLegacyFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 95 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar No Yes
ResearchTrade NationLegacyFX
Daily Market Commentary No Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs No No
Economic Calendar No Yes
EducationTrade NationLegacyFX
Has Education - Forex or CFDs Yes Yes
Client Webinars No Yes
Client Webinars (Archived) No Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos No Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsTrade NationLegacyFX
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 Trade Nation Review LegacyFX Review
OverallTrade NationLegacyFX
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3.5/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 3.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score 83 67
Winner check_circle
Review Trade Nation Review LegacyFX Review
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Trade Nation 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 Trade Nation vs LegacyFX.

Does Trade Nation 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, Trade Nation offers better pricing overall for traders.

Is Trade Nation 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. Trade Nation holds 2 global Tier-1 licenses, while LegacyFX holds 0. Both Trade Nation and LegacyFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Trade Nation earned a higher Trust Score than LegacyFX.

Which trading platform is better: Trade Nation or LegacyFX?

To compare the trading platforms of both Trade Nation and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Trade Nation offers a better experience. With research, Trade Nation offers superior market research. Finally, we found Trade Nation 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.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

LegacyFX provides traders 44 currency pairs (e.g., EUR/USD) compared to Trade Nation's 33 available pairs. Forex pairs aside, Trade Nation offers traders access to 601 CFDs while LegacyFX has 425 available CFDs, a difference of 176.

Can I trust Trade Nation?

Trade Nation is not publicly traded and does not operate a bank. Trade Nation is authorized by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). Trade Nation is authorised by the following tier-1 regulator: Australian Securities & Investment Commission (ASIC) and Financial Conduct Authority (FCA).

Can I trust LegacyFX?

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Is Trade Nation good?

Trade Nation’s well-designed, easy-to-use trading app is an innovative trading platform that’s great for beginner forex and CFD traders. However, if you’re a seasoned trader, you may find that Trade Nation lacks advanced features compared to the best trading platforms.

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: Trade Nation

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announcementPlease 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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