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LegacyFX vs UFX 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is LegacyFX better than UFX? In our analysis of 23 international regulators across 62 of the best forex brokers, LegacyFX is considered High Risk, with an overall Trust Score of 67 out of 99. UFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Compare

0 of 5
Overall Rating LegacyFX UFX
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 3/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 3.5/5 Stars 4/5 Stars
Mobile Trading 3.5/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3/5 Stars
Trust Score info 67 67
Winner check_circle
Review LegacyFX Review
Broker Screenshots LegacyFX UFX
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation LegacyFX UFX
Trust Score info 67 67
Year Founded info 2012 2011
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 1 0
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1
Tier-1 Licenses (Highly Trusted) LegacyFX UFX
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses (Trusted) LegacyFX UFX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments LegacyFX UFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 425 619
Forex Pairs (Total) info 44 49
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 LegacyFX UFX
Average Spread EUR/USD - Standard info N/A 3 info
All-in Cost EUR/USD - Active info N/A 2 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes No
Funding LegacyFX UFX
Minimum Deposit info $500 $100
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms LegacyFX UFX
Proprietary Platform info No Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools LegacyFX UFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 30 116
Charting - Drawing Tools (Total) info 15 17
Charting - Trade From Chart info Yes No
Charts can be saved info Yes Yes
Mobile Trading LegacyFX UFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No Yes
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes No
Forex Calendar info Yes Yes
Research LegacyFX UFX
Daily Market Commentary info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
Social Sentiment - Currency Pairs info No Yes
Economic Calendar info Yes Yes
Education LegacyFX UFX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs LegacyFX UFX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review LegacyFX Review
Overall LegacyFX UFX
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 3/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 3.5/5 Stars 4/5 Stars
Mobile Trading 3.5/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3/5 Stars
Trust Score info 67 67
Winner check_circle
Review LegacyFX Review
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LegacyFX vs UFX Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare LegacyFX vs UFX.

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).

Can I trust UFX?

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

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.

Is UFX good?

UFX offers a proprietary platform alongside the full MetaTrader suite, and while its range of markets has increased spreads are still expensive compared to the best broker. Last but not least, with just one regulatory license, UFX's Trust Score is lower than the industry average.

What is the minimum deposit requirement for opening an account with LegacyFX?

To open a forex trading account with LegacyFX, you'll need to make an initial minimum deposit of $500.

What is the minimum deposit requirement for opening an account with UFX?

LegacyFX requires a minimum deposit of $100 before you can open an account and start trading forex.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both LegacyFX and UFX offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Does LegacyFX or UFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that LegacyFX offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is LegacyFX or UFX safer for forex and CFDs trading?

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that LegacyFX holds 1 global Tier-1 licenses, while UFX holds 0. UFX holds 1 global Tier-2 licenses, while LegacyFX holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that LegacyFX and UFX have earned the same Trust Score (67).

Which trading platform is better: LegacyFX or UFX?

To compare the trading platforms of both LegacyFX and UFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, UFX offers a better experience. With research, LegacyFX offers superior market research. Finally, we found UFX to provide better mobile trading apps.

Here’s what trading platforms are available at LegacyFX:

  • Proprietary Platform - No
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

Here’s what trading platforms are available at UFX:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. LegacyFX and UFX both offer copy trading.

What can I trade with each broker?

UFX provides traders 49 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. If you are interested in trading CFDs, UFX offers traders access to 619 CFDs, while LegacyFX offers access to 425 CFDs; so UFX offers 194 more CFDs than LegacyFX.

We found in our testing that LegacyFX offers a more diverse selection of investment options than UFX, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.

Overall winner: LegacyFX

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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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