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LegacyFX vs UFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is LegacyFX better than UFX? In our analysis of 23 international regulators across 62 of the best forex brokers, LegacyFX is considered average-risk, with an overall Trust Score of 66 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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Overall RatingLegacyFXUFX
Overall Rating 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 67 62
Winner check_circle
Review LegacyFX Review
RegulationLegacyFXUFX
Trust Score 67 62
Year Founded 2012 2011
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 0 0
Tier-2 Licenses 1 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)LegacyFXUFX
ASIC Authorised (Australia) No 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.) No No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)LegacyFXUFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes No
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)LegacyFXUFX
SCB Authorised (Bahamas) No 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) Yes No
InvestmentsLegacyFXUFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 425 619
Forex Pairs (Total) 44 49
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 (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).
CostLegacyFXUFX
Average Spread EUR/USD - Standard N/A 3 info
All-in Cost EUR/USD - Active N/A 2 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No Yes
Execution: Market Maker Yes No
FundingLegacyFXUFX
Minimum Deposit $500 $100
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsLegacyFXUFX
Proprietary Platform No Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) Yes Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsLegacyFXUFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 7 7
Charting - Indicators / Studies (Total) 30 116
Charting - Drawing Tools (Total) 15 17
Charting - Trade From Chart Yes No
Charts can be saved Yes Yes
Mobile TradingLegacyFXUFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing No Yes
Mobile Charting - Indicators / Studies 30 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes Yes
ResearchLegacyFXUFX
Daily Market Commentary Yes No
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes No
Trading Central (Recognia) No Yes
Social Sentiment - Currency Pairs No Yes
Economic Calendar Yes Yes
EducationLegacyFXUFX
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes No
Major Forex PairsLegacyFXUFX
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
OverallLegacyFXUFX
Overall Rating 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 67 62
Winner check_circle
Review LegacyFX Review
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LegacyFX vs UFX 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 LegacyFX vs UFX.

Does LegacyFX or UFX 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, LegacyFX offers better pricing overall for traders.

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

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.

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.LegacyFX and UFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

UFX provides traders 49 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. Forex pairs aside, UFX offers traders access to 619 CFDs while LegacyFX has 425 available CFDs, a difference of 194.

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).

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.

Overall winner: LegacyFX

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