Written by ForexBrokers.com
In this head to head comparison of Trading 212 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.
When comparing the online brokers Trading 212 and LegacyFX, it's important to consider their history and trustworthiness. Trading 212 was founded in 2004, while LegacyFX began operations in 2012. Neither of these brokers are publicly traded or operate as banks. Trading 212 has earned a Trust Score of 79 out of 99 according to ForexBrokers.com, indicating an average risk level. The broker is licensed with two Tier-1 regulatory bodies, known for high trust levels, adding a layer of reliability to its services.
On the other hand, LegacyFX has a slightly lower Trust Score of 67, placing it in the high-risk category. Like Trading 212, LegacyFX also chooses not to operate as a bank or be listed on stock exchanges. It holds one Tier-1 license, which reflects its attempt to ensure some degree of investor confidence. While both platforms meet essential regulatory standards, Trading 212 slightly edges out LegacyFX in terms of perceived trust and regulatory backing.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Year Founded | 2004 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to comparing commissions and fees at Trading 212 and LegacyFX, there are key differences that potential investors should be aware of. Trading 212 provides a CFD account option with a minimum deposit requirement of 10 euros, highlighting its appeal to traders looking for low initial investment barriers. While Trading 212 proudly advertises zero-commission trading, traders should note the involvement of spreads, which are relatively high compared to industry standards. For example, the average spread for the EUR/USD pair in January 2024 was reported at 1.9 pips. Offering a user-friendly platform, Trading 212 earns a solid 4-star rating for commissions and fees, placing it 43rd out of 63 brokers according to ForexBrokers.com.
On the other hand, LegacyFX's commission and fee structure varies significantly based on whether clients use their EU entity regulated by CySEC or their international entity in Vanuatu. For EU residents, LegacyFX offers three account types: Silver, Gold, and Platinum, with minimum deposits of $500, $5,000, and $25,000, respectively. Spreads are more favorable with the Platinum account but remain relatively high on the Silver account, with a minimum spread starting at 1.6 pips for the EUR/USD. The Vanuatu entity offers seven account types catering to international clients, ranging from Standard with a $500 deposit to VIP with a $50,000 deposit. Each account tier provides varying levels of client support and access to trading tools, though such differences make transparent pricing harder to discern. LegacyFX receives a 3.5-star rating and ranks 57th in the commissions and fees category according to ForexBrokers.com.
While both Trading 212 and LegacyFX have distinct offerings regarding commissions and fees, Trading 212 has a slight edge with a higher star rating and better ranking. Traders may find Trading 212 more appealing with its low deposit requirements and fee transparency, even though its spreads are above industry averages. Meanwhile, LegacyFX presents a broader range of account types that may cater to different levels of traders but lacks the average spread data that investors often seek for making informed decisions.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | €10 | $500 |
| Average Spread EUR/USD - Standard | 1.9 | N/A |
| All-in Cost EUR/USD - Active | 1.9 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments, Trading 212 clearly outshines LegacyFX with its exemplary variety and flexibility. Offering an impressive 8,025 tradeable symbols, Trading 212 provides access to 146 forex pairs, significantly more than LegacyFX's 425 tradeable symbols and 44 forex pairs. Additionally, Trading 212 allows clients to invest in exchange-traded securities on both U.S. and international stock exchanges, whereas LegacyFX does not provide this option. Both platforms support forex trading via CFDs or spot contracts and offer cryptocurrency derivatives, though neither offers direct cryptocurrency purchases.
Despite Trading 212's comprehensive offerings earning it a 5-star rating for its range of investments, LegacyFX, with its limited selection, earns 3.5 stars. Moreover, Trading 212 ranks 15th out of 63 brokers in ForexBrokers.com's Range of Investments category, while LegacyFX is placed at 48th. Although LegacyFX has the added functionality of copy trading, the sheer breadth of Trading 212's offerings, including stocks from major exchanges and a vast array of forex options, makes it a more versatile choice for investors seeking diverse portfolios.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8025 | 425 |
| Forex Pairs (Total) | 146 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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 Trading 212 and LegacyFX, both offer virtual demo accounts for practice before committing real funds. Trading 212 comes with a unique in-house platform that supports web-based trading, but it lacks a Windows-based desktop download option. LegacyFX, on the other hand, does not have its own proprietary platform but provides a Windows-based desktop download option as well as a web-based platform. While Trading 212 doesn’t support popular tools like MetaTrader 4 or MetaTrader 5, LegacyFX does offer MT5, alongside a copy trading option, which Trading 212 does not provide. Both platforms allow trades directly from stock charts, making the actual trading experience seamless for users.
When it comes to charting tools, Trading 212 leads with 20 available drawing tools compared to LegacyFX's 15. However, LegacyFX provides more fields for watch lists, offering seven columns compared to Trading 212’s five. Trading 212 has earned a slightly higher rating of four stars out of five for its trading platforms and tools, compared to LegacyFX's 3.5 stars. Additionally, Trading 212 ranks higher at #20 out of 63 brokers in this category on ForexBrokers.com, in contrast to LegacyFX, which sits at #60. These distinctions suggest that Trading 212 may be favored by those who prefer a streamlined, online-focused platform, while LegacyFX caters to traders who appreciate more traditional desktop access and advanced tools.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 54 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between the mobile trading apps of Trading 212 and LegacyFX, both options are available on iPhone and Android, providing traders with the flexibility to manage their investments on the go. Both apps enable stock and forex price alerts, ensuring that users can stay informed of market changes in real time. Additionally, both Trading 212 and LegacyFX offer the ability to draw trendlines and access multiple time frames on charts, enhancing the overall trading experience. However, a distinct advantage of Trading 212 is its watchlist symbol syncing feature, which allows changes to be mirrored instantly between the mobile app and the user's online account—a feature that LegacyFX does not offer.
Trading 212 also excels in its charting capabilities with a vast selection of 104 technical studies, compared to the 30 offered by LegacyFX. Auto-saving of chart drawings and real-time quote watchlists are standard features across both platforms, providing convenience and speed when analyzing market movements. In terms of overall ratings, Trading 212 holds a solid 4-star rating, placing it at number 17 out of 63 brokers according to ForexBrokers.com. In contrast, LegacyFX receives a 3.5-star rating and ranks 61st, indicating room for improvement in the overall user experience. Whether prioritizing advanced charting features or seamless app integration, users will find both strengths and areas for consideration when comparing these two mobile trading solutions.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 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 Trading 212 and LegacyFX, potential users may notice distinct differences in their market research offerings. LegacyFX provides daily market commentary, keeping its users informed with regular updates, an area where Trading 212 does not engage. Both platforms deliver forex news sourced from top-notch providers like Bloomberg and Reuters, ensuring access to quality information. Additionally, LegacyFX stands out by offering tools from Autochartist, enhancing technical analysis, a feature absent from Trading 212's offerings. However, neither broker provides tools from Trading Central or offers market research from TipRanks or Acuity Trading.
For those interested in sentiment-based trading tools, Trading 212 gives access to insights on long and short positions across various instruments, an advantage not available with LegacyFX. Both brokers ensure users are aware of crucial economic events through comprehensive economic calendars. When considering overall research performance, both Trading 212 and LegacyFX receive a rating of 3.5 stars. However, in the ForexBrokers.com ranking for research categories among 63 brokers, LegacyFX holds a slight edge at #45, just above Trading 212, which ranks at #46.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | 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 comparing educational resources for beginners, Trading 212 and LegacyFX both provide a solid starting point for those new to forex and CFD trading. Both platforms offer a wealth of educational materials, each providing over 10 articles, videos, and archived webinars focused on these subjects. This wealth of information includes monthly online webinars and a searchable archive of recorded sessions, ensuring that learners have continuous access to quality educational content. Furthermore, both brokers cater to the complete learning spectrum with a collection of over 10 videos each for both beginner and advanced traders. To aid in understanding complex financial terms, each one offers an investor dictionary with definitions for more than 50 key investing terms.
Although Trading 212 and LegacyFX share many similarities in their educational offerings, their standing varies slightly based on external evaluations. Each broker scores 3.5 stars for their educational content. However, Trading 212 boasts a higher position, ranking 20th out of 63 brokers in the education category on ForexBrokers.com, whereas LegacyFX comes in at 35th. This distinction might guide beginners in making a more informed decision based on their educational priorities.
| Feature |
Trading 212
|
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 Trading 212 is better than LegacyFX. Trading 212 finished with an overall rank of #31, while LegacyFX finished with an overall rank of #62.
Best known for its mobile trading app, Trading 212 offers an easy-to-use trading platform suite for CFD and share trading, as well as a large variety of forex pairs. However, despite its well-designed platform and wide range of symbols, its lack of advanced trading tools and flat research offerings hamper Trading 212’s bid to be considered a top broker.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 79 | 67 |
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Neither Trading 212 nor LegacyFX offers the ability to purchase actual delivered cryptocurrency, but both platforms provide options to buy cryptocurrency derivatives.
When comparing Trading 212 and LegacyFX for fund deposit and withdrawal options, Trading 212 supports ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, but not Skrill, whereas LegacyFX offers Visa, Mastercard, bank wires, and Skrill, without ACH, SEPA, or PayPal support.
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 | Trading 212 | LegacyFX | |
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| Trust Score | 79 | 67 | |
| Winner | check_circle | ||
| Review | Trading 212 Review | LegacyFX Review |
| Broker Screenshots | Trading 212 | LegacyFX | |
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| Regulation | Trading 212 | LegacyFX | |
|---|---|---|---|
| Trust Score | 79 | 67 | |
| Year Founded | 2004 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Trading 212 | 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) | Yes | 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) | Trading 212 | 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 | Trading 212 | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8025 | 425 | |
| Forex Pairs (Total) | 146 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | Trading 212 | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.9 | N/A | |
| All-in Cost EUR/USD - Active | 1.9 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Trading 212 | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | €10 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Trading 212 | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Trading 212 | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 54 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Trading 212 | LegacyFX | |
|---|---|---|---|
| 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 | 104 | 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 | Trading 212 | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Trading 212 | 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 | Trading 212 | 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 | Trading 212 Review | LegacyFX Review |
| Overall | Trading 212 | LegacyFX | |
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| Trust Score | 79 | 67 | |
| Winner | check_circle | ||
| Review | Trading 212 Review | LegacyFX Review |
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