Alpari vs LegacyFX 2024

Alpari is not publicly traded and does not operate a bank. Alpari is authorised by zero Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk).

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: Regulated in the European Union via the MiFID passporting system.

Alpari is one of the first brokers to offer the MetaTrader platform glopbally before it became popular. The Alpari group of companies are regulated only in a few jurisdictions, putting the broker at a disadvantage compared to the most trusted brokers.

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.

To open a trading account with Alpari, you'll need to make an initial minimum deposit of $20.

LegacyFX requires a minimum deposit of $500 before you can open an account and start trading.

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

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 Alpari 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.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose 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 Alpari holds 0. Both Alpari and LegacyFX hold 0 global Tier-2 licenses.

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 Alpari (68) earned a higher Trust Score than LegacyFX (67).

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

Here’s what trading platforms are available at Alpari:

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

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

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Alpari offers MetaTrader 4 (MT4), while LegacyFX does not. Forex traders also appreciate the ability to engage in social copy trading. Alpari and LegacyFX both offer copy trading.

Alpari provides traders 46 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. If you are interested in trading a full range of securities, LegacyFX offers traders access to 425 tradeable symbols, while Alpari offers access to 105 tradeable symbols; so LegacyFX offers 320 more tradeable symbols than Alpari.

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