Written by ForexBrokers.com
In this head to head comparison of Axi 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 Axi and LegacyFX, both companies have established themselves in the forex trading industry, albeit with distinct differences. Founded in 2007, Axi holds a Trust Score of 82 out of 99, signifying a trusted status according to ForexBrokers.com. It is noteworthy that Axi is not publicly traded nor a bank, yet it maintains a strong regulatory foundation with two Tier-1 licenses and one Tier-2 license. This regulatory compliance signals a higher level of oversight and consumer protection.
LegacyFX, founded later in 2012, holds a lower Trust Score of 67, categorizing it as a high risk broker based on ForexBrokers.com's criteria. Like Axi, LegacyFX is neither publicly traded nor a banking institution. In terms of regulatory credentials, LegacyFX holds one Tier-1 license, but lacks any Tier-2 licenses, offering it comparatively less regulatory backing. While both brokers offer online trading platforms, Axi's higher Trust Score and regulatory licenses may provide clients with added peace of mind in terms of trust and security.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Year Founded | 2007 | 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 | 1 | 1 |
When it comes to commissions and fees, Axi stands out with a user-friendly approach. Although specific average spread data is not available, Axi earns a commendable rating of 4 out of 5 stars. According to ForexBrokers.com, Axi is ranked 44th out of 62 brokers in the Commissions and Fees category, showcasing its competitive nature within the industry.
LegacyFX offers a variety of account types across its EU and international entities, but the lack of average spread data makes it challenging to determine overall trading costs. For EU residents, account options include Silver, Gold, and Platinum, with minimum deposits ranging from $500 to $25,000. The Platinum account features the lowest spreads, while the Silver account incurs significantly higher costs. International clients can choose from seven different accounts, with deposit requirements ranging from $500 to $50,000. Despite its offerings, LegacyFX is rated 3.5 stars and is ranked 56th out of 62 by ForexBrokers.com in the Commissions and Fees category.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $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 | Yes | 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.
Axi and LegacyFX both allow investors to trade forex as CFDs, giving users the flexibility of speculating on currency price movements without owning the actual currencies. While Axi offers a total of 175 tradable symbols, LegacyFX offers a more extensive selection with 425 symbols for diverse trading options. When it comes to forex pairs, Axi provides a larger range with 65 pairs compared to LegacyFX's 44 forex pairs, appealing to forex enthusiasts interested in exploring more diverse forex trading opportunities. Neither platform provides access to actual shares on U.S. or international exchanges, nor do they allow the purchase of actual cryptocurrencies. However, both Axi and LegacyFX support trading cryptocurrency derivatives, catering to traders focused on crypto markets without direct purchase.
Both brokers provide copy trading features, enabling investors to replicate the trades of successful traders. In terms of investment range, Axi and LegacyFX both receive a rating of 3.5 stars. However, when ranked among 62 brokers by ForexBrokers.com, LegacyFX sits at #48, slightly ahead of Axi, which is placed at #55. This suggests that while both brokers offer similar features and ratings, LegacyFX may provide a slightly broader appeal in terms of investment variety and market access options.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 175 | 425 |
| Forex Pairs (Total) | 65 | 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 trading platforms and tools, both Axi and LegacyFX provide traders with essential features for a comprehensive trading experience. Both brokers offer free virtual demo accounts that enable users to practice their trading strategies without financial risk. While neither broker provides a proprietary trading platform, they do cater to desktop users with Windows-based download platforms and offer web-based trading options. Both Axi and LegacyFX also support copy trading, yet Axi provides an edge with the inclusion of ZuluTrade, a feature not available with LegacyFX. On the flip side, Axi supports the popular MetaTrader 4 (MT4) platform, whereas LegacyFX offers MetaTrader 5 (MT5).
Charting tools are equally matched between Axi and LegacyFX, with each offering 15 drawing tools and the ability to trade directly from stock charts. Both platforms ensure robust watchlist capabilities with seven customizable columns, allowing traders to keep a comprehensive overview of their preferred assets. Despite their similar offerings, both brokers received a 3.5-star rating for their trading platforms and tools. However, industry rankings by ForexBrokers.com place Axi at the bottom of the list, with LegacyFX slightly higher, indicating some variation in user preference or experience.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | 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 Axi and LegacyFX provide trading apps for iPhone and Android users, catering to traders who enjoy flexibility and mobility in managing their trades. They both offer stock and forex price alerts and allow for the creation of watchlists with real-time quotes. However, neither platform enables the syncing of watchlist symbols between their mobile apps and online accounts. When it comes to charting capabilities, both apps offer 30 technical studies and allow users to draw trendlines on charts and view various time frames like daily or intraday. A notable difference is that LegacyFX's app automatically saves drawings on charts, while Axi does not offer this feature.
In terms of ratings, both Axi and LegacyFX's mobile trading apps receive a rating of 3.5 out of 5 stars. When looking at rankings among 62 brokers on ForexBrokers.com, Axi holds the 59th position, just one spot ahead of LegacyFX, which is ranked 60th. This suggests that while both brokers offer similar mobile trading experiences, there are subtle differences that might lead traders to prefer one over the other, such as the ability of LegacyFX to save chart drawings automatically.
| Feature |
Axi
|
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 | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When considering online brokers Axi and LegacyFX for market research, there are a few distinctions worth noting. While both brokers provide forex news from esteemed sources such as Bloomberg and Reuters, LegacyFX has the edge with daily market commentary, which Axi lacks. Both brokers offer tools from Autochartist to enhance technical and fundamental analysis, but neither broker includes features from Trading Central. Axi, however, offers a sentiment-based trading tool that lets traders see the ratio of long or short positions across currency pairs, a feature LegacyFX does not provide.
Despite these differences, LegacyFX receives a slightly higher rating for research at 3.5 stars compared to Axi’s 3 stars. This appreciation is reflected in their rankings by ForexBrokers.com, where LegacyFX stands at #45, ahead of Axi’s #55 position out of 62 brokers. Both brokers offer an economic calendar, ensuring traders stay informed about global economic events, but potential users should weigh the features that fit their personal trading needs and preferences.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | 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 comparing Axi and LegacyFX in terms of educational resources for beginners, both brokers provide a comprehensive selection of materials to help new traders get started with forex and CFDs. Each platform offers a minimum of 10 educational pieces including articles, videos, and archived webinars that focus on forex and CFDs. Furthermore, both Axi and LegacyFX host online educational webinars for their clients at least once a month, providing ongoing learning opportunities. However, LegacyFX stands out by offering a searchable archive of recorded webinars, a feature that Axi does not provide.
Both brokers have over 10 beginner-friendly educational videos, yet LegacyFX takes a step further with videos geared toward advanced traders, a resource that Axi lacks. To aid in understanding trading terms, both Axi and LegacyFX feature an investor dictionary with over 50 definitions. In terms of education ratings, while Axi holds a 3-star rating and is ranked 26th out of 62 brokers by ForexBrokers.com, LegacyFX achieves a slightly higher 3.5-star rating, although it is ranked lower at 35th. This suggests that while LegacyFX offers a slightly richer educational experience, Axi maintains a more favorable overall ranking in the education category.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Axi is better than LegacyFX. Axi finished with an overall rank of #49, while LegacyFX finished with an overall rank of #62.
Axi, previously known as AxiTrader, is an evolving brand regulated in Australia, the UK, and the UAE. With just the MetaTrader platform available and a limited range of investment products, Axi lags behind the best multi-asset brokers.
| Feature |
Axi
|
LegacyFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 82 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Axi 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 Axi and LegacyFX, neither offers ACH or SEPA transfers, nor PayPal for depositing or withdrawing funds, while both support Skrill, Visa or Mastercard, and bank wire options for seamless financial 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Axi | LegacyFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 82 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | Axi | LegacyFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Axi | LegacyFX | |
|---|---|---|---|
| Trust Score | 82 | 67 | |
| Year Founded | 2007 | 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 | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Axi | 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) | Axi | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Axi | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 175 | 425 | |
| Forex Pairs (Total) | 65 | 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 | Axi | 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 | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Axi | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | Axi | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | Axi | 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 | Axi | 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 | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Axi | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Axi | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Axi | 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 | LegacyFX Review |
| Overall | Axi | LegacyFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 82 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill
