Written by ForexBrokers.com
In this head to head comparison of Vantage 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.
Vantage and LegacyFX are both prominent online brokers, with Vantage having been established in 2009 and LegacyFX in 2012. Neither broker is publicly traded or operates as a bank. In terms of trust and regulation, Vantage stands out with a higher ForexBrokers.com Trust Score of 90, indicating it is highly trusted. LegacyFX, on the other hand, has a Trust Score of 67, placing it in the high-risk category.
Vantage's strong regulatory standing is supported by its possession of two Tier-1 licenses and one Tier-2 license, which are reputable trust indicators. LegacyFX holds one Tier-1 license, without any Tier-2 licenses, making it less regulated compared to Vantage. These regulatory differences are crucial factors to consider when choosing an online broker.
| Feature |
Vantage
|
LegacyFX
|
|---|---|---|
| Year Founded | 2009 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
Vantage offers a variety of account options that influence its commissions and trading fees, which are generally in line with industry standards but not among the market leaders like Saxo, IG, and CMC Markets. Vantage features a Standard STP account that utilises spread-only pricing, along with two commission-based accounts: RAW ECN and PRO ECN. The Standard account recorded typical spreads of 1.30 pips on EUR/USD for March 2023, while the RAW account offers spreads averaging 0.15 pips, paired with a $6 round-trip commission, resulting in an effective cost of 0.75 pips. For those who meet specific requirements, such as wholesale client categorization in Australia or a $10,000 minimum deposit in the Cayman Islands, the PRO account delivers competitive pricing with a $4 round-trip commission. Vantage earns a 4.5-star rating for commissions and fees and ranks 19th out of 63 brokers by ForexBrokers.com in this category.
LegacyFX provides account options that vary by region, either under the EU's CySEC regulations or an international entity in Vanuatu. In the European Union, LegacyFX offers Silver, Gold, and Platinum accounts, with minimum deposits of $500, $5,000, and $25,000, respectively. The Platinum account advertises the lowest spreads, while the Silver tier incurs significantly higher trading costs starting at 1.6 pips on EUR/USD. International clients have access to seven account types, from Standard to VIP, with deposits ranging from $500 to $50,000 and varying levels of support and trading tool access based on the account type. Unlike more transparent brokers, LegacyFX does not provide average spread data, a common expectation for thorough cost assessments. For its commissions and fees, LegacyFX holds a 3.5-star rating and is ranked 57th out of 63 brokers by ForexBrokers.com.
| Feature |
Vantage
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $50 | $500 |
| Average Spread EUR/USD - Standard | 1.30 | N/A |
| All-in Cost EUR/USD - Active | 0.75 | N/A |
| Active Trader or VIP Discounts | Yes | 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.
When comparing the range of investments offered by Vantage and LegacyFX, it becomes clear that both brokers have strengths and limitations. Vantage provides a broader selection of tradeable symbols, with 1000 available compared to LegacyFX's 425. In terms of forex trading, Vantage also offers more variety, supporting 61 forex pairs, while LegacyFX offers 44. Both brokers allow trading in forex as CFDs or spot contracts, and each offers cryptocurrency derivatives, though neither offers ownership of actual cryptocurrencies.
Neither Vantage nor LegacyFX provides exchange-traded securities on U.S. or international exchanges, which means investors cannot directly purchase stocks like Apple or Vodafone through these platforms. Both offer copy trading features, catering to those who prefer mimicking successful traders. In terms of recognition, both brokers hold a 3.5-star rating for their range of investments and are similarly ranked by ForexBrokers.com, with Vantage placed at #50 and LegacyFX slightly ahead at #48 out of 63 brokers. This suggests that while both brokers share similarities, LegacyFX is marginally better rated in their investment offerings.
| Feature |
Vantage
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1000 | 425 |
| Forex Pairs (Total) | 61 | 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 the trading platforms and tools of Vantage and LegacyFX, both brokers offer free demo accounts, allowing users to practice trading with virtual currency. Vantage stands out with its proprietary platform developed in-house, whereas LegacyFX relies on third-party solutions. Both offer Windows-based and web-based platforms, making them accessible for various user preferences. Vantage supports MetaTrader 4 and MetaTrader 5, while LegacyFX only offers MetaTrader 5. Additionally, Vantage includes DupliTrade for social trading, whereas LegacyFX does not. However, neither broker supports ZuluTrade.
Looking at charting tools, both Vantage and LegacyFX provide 15 drawing tools and enable trading directly from stock charts. They also offer comprehensive watch lists with seven columns each. While users can expect a robust range of features from both, Vantage is rated 4 stars for trading platforms and tools, outperforming LegacyFX's 3.5-star rating. In rankings by ForexBrokers.com, Vantage places at #21, showcasing a stronger offering compared to LegacyFX's position at #60.
| Feature |
Vantage
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | Yes | 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.
Both Vantage and LegacyFX deliver solid mobile trading experiences, offering apps for both iPhone and Android devices. Traders can enjoy stock and forex price alerts, create watchlists with real-time quotes, and utilize 30 technical studies for charting on both platforms. Users can also draw trendlines and view various time frames, from daily to intraday, which are auto-saved for convenience. However, neither broker supports watchlist symbol syncing between the mobile app and online account, meaning users will need to manually update watchlists in each place.
While both apps provide similar features for on-the-go trading, there are differences in user ratings and rankings. Vantage scores a higher rating of 4 stars compared to LegacyFX's 3.5 stars for mobile trading. Moreover, Vantage is ranked #28 out of 63 brokers for mobile trading app performance by ForexBrokers.com, whereas LegacyFX holds the #61 position. These distinctions might influence traders weighing which platform provides a smoother mobile trading experience.
| Feature |
Vantage
|
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 it comes to market research, both Vantage and LegacyFX provide daily market commentary and access to forex news from major sources like Bloomberg and Reuters. They also share access to industry-standard research tools like Autochartist, which can be particularly helpful for traders looking to perform technical or fundamental analysis. However, Vantage has an edge with additional tools from Trading Central and a sentiment-based trading tool, which gives traders insights into the ratio of long and short positions across various currency pairs.
Both brokers offer an economic calendar to keep traders informed of upcoming global news events, but neither has market research from TipRanks or Signal Centre by Acuity Trading. Overall, Vantage seems to provide a more comprehensive research experience, earning a 4-star research rating and ranking 21 out of 63 brokers on ForexBrokers.com. In comparison, LegacyFX holds a 3.5-star rating and ranks 46 out of 63, which may appeal to traders who are satisfied with a fundamental research setup but seek a few advanced tools beyond that.
| Feature |
Vantage
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | 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 it comes to educational resources for beginner traders, both Vantage and LegacyFX provide comprehensive options. They each offer a collection of at least 10 educational pieces focused on forex and CFDs. Beginners have access to regular monthly webinars, and both brokers maintain a searchable archive of past webinars to enhance learning at your own pace. Additionally, they each provide over 10 beginner-focused educational videos, making it easier to understand trading basics. Advanced traders aren't left out either, as each broker supplies over 10 videos on advanced topics. Furthermore, these brokers offer investor dictionaries containing definitions of more than 50 investing terms, making it easier for newcomers to familiarize themselves with industry jargon.
Despite the similarities, Vantage edges out slightly higher in educational ratings with a score of 4 stars compared to LegacyFX's 3.5 stars. In terms of global rankings by ForexBrokers.com for educational offerings, Vantage is ranked 24th out of 63 brokers, while LegacyFX positions at 35th. This slight difference may influence traders looking for credibility and comprehensive educational support from their broker. Whether you're a beginner or an advanced trader, both Vantage and LegacyFX provide a wealth of resources to help you navigate the trading landscape confidently.
| Feature |
Vantage
|
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 Vantage is better than LegacyFX. Vantage finished with an overall rank of #26, while LegacyFX finished with an overall rank of #63.
Vantage rounds out its MetaTrader platform suite offering with support for multiple social trading platforms, content powered by Trading Central and a proprietary mobile app. However, Vantage trails industry leaders in key areas such as research and education.
| Feature |
Vantage
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 90 | 67 |
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Both Vantage and LegacyFX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
When comparing online brokers Vantage and LegacyFX, neither offers ACH or SEPA transfers for account funding, but Vantage supports PayPal whereas LegacyFX does not, and both brokers accept Skrill, Visa, Mastercard, and bank wire 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 | Vantage | LegacyFX | |
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| Trust Score | 90 | 67 | |
| Winner | check_circle | ||
| Review | Vantage Review | LegacyFX Review |
| Broker Screenshots | Vantage | LegacyFX | |
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| Regulation | Vantage | LegacyFX | |
|---|---|---|---|
| Trust Score | 90 | 67 | |
| Year Founded | 2009 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | Vantage | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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). | No | Yes |
| Tier-2 Licenses (Trusted) | Vantage | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Vantage | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1000 | 425 | |
| Forex Pairs (Total) | 61 | 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 | Vantage | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.30 | N/A | |
| All-in Cost EUR/USD - Active | 0.75 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Vantage | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $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 | Vantage | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Vantage | 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 | Vantage | 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 | Vantage | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | 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 | Vantage | 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 | Vantage | 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 | Vantage Review | LegacyFX Review |
| Overall | Vantage | LegacyFX | |
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| Trust Score | 90 | 67 | |
| Winner | check_circle | ||
| Review | Vantage Review | LegacyFX Review |
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