Written by ForexBrokers.com
In this head to head comparison of BDSwiss 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.
BDSwiss and LegacyFX, both established in 2012, offer services as online brokers without being publicly traded or operating as banks. When it comes to regulatory trust, BDSwiss holds a slight edge with a Tier-1 license, the highest level of trust recognized by ForexBrokers.com. Similarly, LegacyFX also possesses a Tier-1 license. Neither broker has any Tier-2 licenses, which are still considered a sign of trust according to the rating system used by ForexBrokers.com.
In terms of overall trust and risk assessment, BDSwiss secures a Trust Score of 73 out of 99, categorizing it at an average risk level. On the other hand, LegacyFX has a Trust Score of 67, placing it in the high-risk category. These scores reflect the perceived reliability and regulatory compliance of each broker, providing potential investors with an insightful comparison for making informed decisions.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Year Founded | 2012 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
BDSwiss and LegacyFX differ significantly in their approach to commissions and fees. BDSwiss provides competitive order execution but charges higher spreads. For instance, the Classic account has a spread of 1.5 pips on the EUR/USD pair, which is relatively costly compared to top competitors. However, the Raw account offers a spread of 0.3 pips with a $5 commission per side, bringing the effective spread to 1.3 pips. The VIP account features a slightly better spread of 1.2 pips. BDSwiss enjoys favorable reviews, with a 4-star rating and ranks 29th out of 62 in the Commissions and Fees category by ForexBrokers.com.
On the other hand, LegacyFX’s fee structure is largely determined by the regulatory entity you choose. For EU clients under CySEC, there are three accounts: Silver, Gold, and Platinum, with minimum deposits of $500, $5,000, and $25,000 respectively. Although spreads are lowest in the Platinum account, the Silver account shows considerably higher spreads, going up to 1.6 pips on EUR/USD. Without average spread data, the true costs remain unclear. The Vanuatu-regulated entity offers international clients seven account types, ranging from Standard to VIP, each providing different levels of support and trading tools, based on the account's minimum deposit.
When it comes to overall performance, LegacyFX is rated 3.5 stars for commissions and fees and is ranked 56th out of 62 brokers in the same category by ForexBrokers.com. This positions it below BDSwiss in terms of cost-effectiveness and ratings, offering a less transparent fee structure for those keen on understanding the full extent of trading costs upfront.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $10-$5000 | $500 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 1.3 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | 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 BDSwiss and LegacyFX on their range of available investments, both platforms provide access to forex trading as CFDs or spot contracts, making them a viable choice for traders interested in currencies. However, BDSwiss stands out with a total of 1,081 tradeable symbols, while LegacyFX offers 425. For forex pairs, BDSwiss again offers more options with 53 pairs available compared to LegacyFX's 44. Neither broker offers exchange-traded securities on U.S. or international exchanges, meaning investors cannot directly purchase stocks like Apple or Vodafone. Both BDSwiss and LegacyFX provide opportunities for copy trading and cryptocurrency derivatives, but neither supports the direct purchase of actual cryptocurrencies.
In terms of ratings, BDSwiss received 4 out of 5 stars for its range of investments, securing the 34th spot out of 62 brokers according to ForexBrokers.com. LegacyFX was rated slightly lower, with 3.5 stars, and holds the 48th position in the same ranking. These ratings reflect BDSwiss's broader selection of tradeable symbols and forex pairs, giving it a slight edge over LegacyFX in offering a diverse array of investment opportunities.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1081 | 425 |
| Forex Pairs (Total) | 53 | 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.
BDSwiss and LegacyFX both provide essential tools for traders, including a free virtual demo account to practice trading strategies. BDSwiss stands out with its proprietary platform, offering traders an exclusive in-house developed environment, while LegacyFX relies on established third-party platforms. Both brokers cater to different user preferences with available Windows desktop and web-based platforms. The MetaTrader 4 platform is part of BDSwiss's offerings but isn't available with LegacyFX, which might be a deciding factor for users who prefer this specific platform. However, both brokers offer MetaTrader 5, ensuring access to more advanced trading features.
Copy trading capabilities are available with both BDSwiss and LegacyFX, supporting users who wish to follow the trades of others. While neither platform supports DupliTrade or ZuluTrade, they equip users with various charting tools and the ability to trade directly from stock charts. Each broker provides 15 drawing tools for charting and seven columns for watch lists, catering to the needs of detail-oriented traders. Overall, BDSwiss is slightly favored with a 4-star rating and ranks 24th out of 62 brokers, whereas LegacyFX holds a commendable 3.5-star rating and is ranked 59th. These distinctions might guide traders looking for specific features and rankings in trading platforms and tools.
| Feature |
BDSwiss
|
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 | No | 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 BDSwiss and LegacyFX offer comprehensive mobile trading applications for iPhone and Android users, making it convenient to trade on the go. These platforms deliver essential features like stock or forex price alerts, the ability to draw trendlines, view various time frames on charts, and create watchlists with real-time quotes. However, neither of them supports watchlist symbol syncing between the mobile app and the client's online account. With each platform providing 30 technical studies for chart analysis, traders have ample tools at their disposal to make informed decisions from their mobile devices.
Despite their similarities in features, BDSwiss slightly edges out LegacyFX in user perception and rankings. BDSwiss has earned a 4-star rating for its mobile trading app and is ranked 23rd out of 62 brokers according to ForexBrokers.com. LegacyFX, on the other hand, receives a 3.5-star rating and is positioned at 60th in the same category. This ranking suggests a modest preference for BDSwiss's mobile trading experience among users, largely owing to its user-friendly design and functionality.
| Feature |
BDSwiss
|
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.
Both BDSwiss and LegacyFX offer daily market commentary, providing traders with insights into market trends. However, there are notable differences in their market research offerings. While LegacyFX provides forex news from top-tier sources like Bloomberg and Reuters, BDSwiss falls short in this area. On the upside, both brokers feature tools from Autochartist, giving traders access to technical and fundamental research resources. When it comes to the offerings from Trading Central, BDSwiss outshines LegacyFX, providing technical analytics tools that LegacyFX does not.
Neither BDSwiss nor LegacyFX offers sentiment-based trading tools or market research from TipRanks, and the same goes for research tools from Acuity Trading. However, traders can benefit from economic calendars available with both brokers, helping to track global news events. In terms of research quality, BDSwiss earns a higher rating of 4 stars compared to LegacyFX's 3.5 stars. Consequently, BDSwiss is ranked at #23 by ForexBrokers.com, while LegacyFX sits lower at #45, making BDSwiss a more favorable option for those prioritizing comprehensive market research.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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 for beginners, both BDSwiss and LegacyFX offer extensive content to help new traders get started. Each broker provides at least 10 pieces of educational materials, which include articles, videos, and archived webinars focused on forex and CFDs. These resources are designed to support new traders as they become familiar with the financial markets. Both brokers host webinars for their clients every month and maintain searchable archives of these sessions, making it easier for users to revisit key insights and deepen their knowledge at their own pace.
For those looking to expand their learning through video content, both BDSwiss and LegacyFX have a selection of at least 10 videos for beginners and 10 videos catering to advanced topics for seasoned traders. These are complemented by investor dictionaries with over 50 investing terms, ensuring users can understand industry-specific jargon. While BDSwiss slightly outranks LegacyFX in educational quality with a 4-star rating compared to LegacyFX's 3.5 stars, and ranks 19th out of 62 brokers compared to LegacyFX's 35th place on ForexBrokers.com, both platforms present strong educational offerings to support beginner traders.
| Feature |
BDSwiss
|
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 62 of the best forex brokers, our research and account testing finds that BDSwiss is better than LegacyFX. BDSwiss finished with an overall rank of #36, while LegacyFX finished with an overall rank of #62.
The BDSwiss brand caters to over 1.6 million registered forex and CFD traders, and offers the full MetaTrader platform suite alongside its own proprietary mobile app. BDSwiss demonstrates good order execution statistics and provides access to over 1,000 tradable symbols – though its spreads are higher than industry leaders.
| Feature |
BDSwiss
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 73 | 67 |
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BDSwiss and LegacyFX both provide the option to purchase cryptocurrency derivatives rather than actual cryptocurrencies, but neither offers the ability to buy and have cryptocurrencies delivered.
When comparing online brokers BDSwiss and LegacyFX, BDSwiss provides more versatility with funding options, offering ACH and SEPA transfers, unlike LegacyFX, both support Skrill, Visa, Mastercard, and bank wires, but neither support 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 | BDSwiss | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | BDSwiss Review | LegacyFX Review |
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| Regulation | BDSwiss | LegacyFX | |
|---|---|---|---|
| Trust Score | 73 | 67 | |
| Year Founded | 2012 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | BDSwiss | 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) | Yes | 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) | BDSwiss | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | BDSwiss | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1081 | 425 | |
| Forex Pairs (Total) | 53 | 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 | BDSwiss | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 1.3 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | BDSwiss | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $10-$5000 | $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 | Yes | No |
| Trading Platforms | BDSwiss | 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 | No | No | |
| ZuluTrade | No | No |
| Trading Tools | BDSwiss | 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 | BDSwiss | 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 | BDSwiss | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | BDSwiss | 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 | BDSwiss | 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 | BDSwiss Review | LegacyFX Review |
| Overall | BDSwiss | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | BDSwiss Review | LegacyFX Review |
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