XM Group 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 XM Group vs LegacyFX.
Does XM Group 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, XM Group offers better pricing overall for traders.
Is XM Group 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. XM Group holds 4 global Tier-1 licenses, while LegacyFX holds 1. XM Group holds 1 global Tier-2 licenses, while LegacyFX holds 0. In our analysis of 23 international regulators across 50 brokers, XM Group (88) earned a higher Trust Score than LegacyFX (67).
Which trading platform is better: XM Group or LegacyFX?
To compare the trading platforms of both XM Group and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, XM Group offers a better experience. With research, XM Group offers superior market research. Finally, we found XM Group 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.XM Group and LegacyFX both offer copy trading.
How many forex pairs and CFDs are available to trade?
XM Group provides traders 55 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. Forex pairs aside, XM Group offers traders access to 1429 CFDs while LegacyFX has 425 available CFDs, a difference of 1004.
Can I trust XM Group?
XM Group is not publicly-traded and does not operate a bank. XM Group is authorised by four tier-1 regulators (highly trusted), one tier-2 regulator (trusted), zero tier-3 regulators (average risk), and one tier-4 regulator (high risk). XM Group is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), European Union Authorized (MiFID), and, via its parent company's other brand Trading.com, with the Financial Conduct Authority (FCA).
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).
Is XM Group good?
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
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: XM Group
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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.