Written by ForexBrokers.com
In this head to head comparison of Xtrade 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 online brokers Xtrade and LegacyFX, it's essential to consider their regulatory standings and trust scores. Xtrade, established in 2003, holds one Tier-1 and one Tier-2 license, which suggests a level of trust that is endorsed by regulatory standards. Its Trust Score of 74 by ForexBrokers.com places it within the average risk category, indicating a reasonable balance of safety for traders. Despite not being publicly traded or a bank, its long-standing presence since 2003 adds to its credibility in the trading arena.
LegacyFX, founded in 2012, also holds a Tier-1 license, but lacks Tier-2 licenses, distinguishing its regulatory stance from Xtrade. With a Trust Score of 67, LegacyFX falls into the high-risk category according to ForexBrokers.com, suggesting slightly increased caution for potential users. Like Xtrade, LegacyFX is neither publicly traded nor a bank. While both brokers offer regulated services and have garnered trust to an extent, their different trust scores and regulatory licenses may influence traders' decisions based on their risk tolerance and preferences.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Year Founded | 2003 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When evaluating Xtrade for commissions and fees, potential traders should be aware that specific details on average spread data are not provided. This limitation might pose challenges in estimating the exact trading costs. Xtrade holds a rating of 2.5 stars in this category and is ranked last, at #63, out of 63 brokers by ForexBrokers.com. This suggests that Xtrade’s fee structures may be less competitive compared to other options in the market.
LegacyFX, on the other hand, offers a variety of account types that cater to different client needs. For the EU, regulated by CySEC, traders can choose between Silver, Gold, and Platinum accounts, with varying minimum deposit requirements of $500, $5,000, and $25,000, respectively. These account types come with differing spread costs, with the Silver account having the highest trading costs. In its international Vanuatu entity, LegacyFX provides seven account types, further diversifying the choice for traders. Despite the lack of available average spread data, LegacyFX earns a higher rating of 3.5 stars and is ranked #57 out of 63 brokers for commissions and fees, indicating a somewhat better standing than Xtrade.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $250 | $500 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 variety of investment options between Xtrade and LegacyFX, both brokers provide a similar set of features but with some distinctions. Xtrade offers a total of 482 tradeable symbols, including 56 forex pairs available as CFDs or spot contracts. Meanwhile, LegacyFX provides 425 tradeable symbols, with 44 forex pairs also accessible via CFDs or spot contracts. Neither broker offers exchange-traded securities, spotlighting the focus on CFDs for both local and international market assets. However, LegacyFX sets itself apart with the option for copy trading, a feature not available with Xtrade.
Cryptocurrency enthusiasts will find that neither Xtrade nor LegacyFX offer direct purchasing of digital coins, focusing instead on cryptocurrency derivatives. Despite these similarities, both brokers maintain an equal rating of 3.5 stars for their range of investments. However, LegacyFX edges slightly ahead in industry rank, holding position #48 compared to Xtrade’s #49 according to ForexBrokers.com. This comparative analysis hints at nuanced differences, offering potential traders a clearer picture of what each broker brings to the table.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 482 | 425 |
| Forex Pairs (Total) | 56 | 44 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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 the trading platforms and tools of Xtrade and LegacyFX, both brokers offer a demo account, allowing users to practice trading in a simulated environment. Xtrade stands out with its in-house developed proprietary platform, while LegacyFX lacks this feature but makes up for it by providing a Windows-based desktop download option. Both brokers support web-based platforms, ensuring accessibility for traders on the go. However, LegacyFX offers the added advantage of MetaTrader 5, whereas Xtrade does not provide access to this popular trading software. For charting tools, Xtrade offers a broader selection with 100 drawing tools compared to LegacyFX's 15, but both allow trading directly from a stock chart.
Copy trading enthusiasts may lean towards LegacyFX, as it supports this feature, unlike Xtrade. Both brokers fall short on third-party platform integrations like DupliTrade and ZuluTrade. Regarding customization, Xtrade offers nine columns for watch lists, providing more flexibility than LegacyFX's seven. In terms of performance ratings for trading platforms and tools, both brokers receive 3.5 stars. However, Xtrade ranks slightly higher at #58 compared to LegacyFX's #60 out of 63 brokers in the ForexBrokers.com rankings. Whether you prioritize a proprietary platform, advanced charting tools, or integration options, understanding these key differences can help in choosing the right platform for your trading needs.
| Feature |
Xtrade
|
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) | N/A | 30 |
| Charting - Drawing Tools (Total) | 100 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Xtrade and LegacyFX provide mobile trading apps compatible with iPhone and Android devices, but they cater to different needs and preferences when it comes to features. LegacyFX offers an array of tools, including stock and forex price alerts, trendline drawing, and the ability to view multiple timeframes on charts. The app also includes 30 technical studies for in-depth chart analysis and can auto-save chart drawings. For those who value real-time updates, LegacyFX allows users to create a watchlist with real-time quotes. Despite its comprehensive features, LegacyFX is rated 3.5 stars and ranks 61st out of 63 brokers for mobile trading apps.
Xtrade, on the other hand, presents a more basic mobile app experience. While it doesn’t offer price alerts, real-time watchlists, or advanced charting tools like trendline drawing and multiple timeframes, it maintains a higher user satisfaction with a 4-star rating. Providing a simpler interface might be advantageous for traders seeking straightforward trading solutions without the complexities of additional features. As a result, Xtrade ranks 53rd out of 63 brokers in the mobile trading apps category, indicating a slightly better overall user experience despite fewer features.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Xtrade and LegacyFX, both brokers provide daily market commentary to keep traders updated on global financial trends. They also deliver forex news sourced from top-tier entities such as Bloomberg and Reuters. An economic calendar is available on both platforms, showcasing pertinent global news events. However, LegacyFX edges slightly ahead with the inclusion of research tools from Autochartist, which Xtrade does not offer. Neither broker offers tools from Trading Central, sentiment-based trading tools, market research from TipRanks, or resources from Acuity Trading.
Despite these differences in research tools, both brokers receive an identical rating of 3.5 out of 5 stars for their research capabilities. When considering their rankings among 63 brokers on ForexBrokers.com, LegacyFX is slightly higher at 46th place compared to Xtrade's ranking of 52nd. This suggests that, while both provide essential research resources, LegacyFX may have a slight edge in facilitating a broader range of analytical insights for its users.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | 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 tailored for beginners, Xtrade and LegacyFX both provide a comprehensive selection of materials focusing on forex and CFDs, with a minimum of 10 articles, videos, and other types of content. However, LegacyFX pulls ahead by offering monthly online webinars and maintaining an accessible archive of past sessions, which is an area where Xtrade falls short. For new traders seeking interactive learning experiences, LegacyFX's regular webinars could be a significant advantage.
Additionally, LegacyFX stands out with a broader range of beginner and advanced educational videos, each covering essential trading topics. This is another area where Xtrade does not quite match up, as it lacks these specific resources. Both platforms offer an investor dictionary with over 50 investing terms, helping newcomers get familiar with industry jargon. Still, in terms of educational rankings, LegacyFX is positioned more favorably than Xtrade, being ranked #35 compared to Xtrade's #46 by ForexBrokers.com, although both have the same star rating of 3.5 for their educational offerings.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 Xtrade is better than LegacyFX. Xtrade finished with an overall rank of #60, while LegacyFX finished with an overall rank of #63.
Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 74 | 67 |
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Both Xtrade and LegacyFX do not provide the option to purchase actual (delivered) cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives, allowing investors to engage in the crypto market without buying the actual digital currencies.
Both Xtrade and LegacyFX provide options for depositing or withdrawing account funds via Skrill, Visa, Mastercard, and bank wires, but neither supports ACH, SEPA transfers, or PayPal.
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 | Xtrade | LegacyFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | LegacyFX Review |
| Broker Screenshots | Xtrade | LegacyFX | |
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| Regulation | Xtrade | LegacyFX | |
|---|---|---|---|
| Trust Score | 74 | 67 | |
| Year Founded | 2003 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Xtrade | 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) | No | 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) | Xtrade | 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 | Xtrade | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 482 | 425 | |
| Forex Pairs (Total) | 56 | 44 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | Xtrade | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Xtrade | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $250 | $500 | |
| PayPal (Deposit/Withdraw) | No | 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 | Xtrade | 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 | Xtrade | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | N/A | 30 | |
| Charting - Drawing Tools (Total) | 100 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | Xtrade | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Xtrade | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Xtrade | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Xtrade | 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 | Xtrade Review | LegacyFX Review |
| Overall | Xtrade | LegacyFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | LegacyFX Review |
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