Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets 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.
BlackBull Markets, established in 2014, and LegacyFX, founded in 2012, are both online brokers not publicly traded or recognized as banks. Both companies hold one Tier-1 license, indicating a high level of trust, according to ForexBrokers.com. Despite their similar regulatory standing, BlackBull Markets boasts a Trust Score of 78, positioning it as an average risk broker. Meanwhile, LegacyFX has a Trust Score of 67, categorizing it as a high-risk broker by the same standards.
While neither broker holds any Tier-2 licenses, BlackBull Markets appears to offer a slightly more trustworthy profile based on industry ratings. The differences in Trust Scores highlight the importance of evaluating regulatory credentials alongside broker offerings. Potential users should consider these factors when assessing the suitability of either BlackBull Markets or LegacyFX for their trading needs.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2014 | 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 | 1 | 1 |
When it comes to commissions and fees, BlackBull Markets offers trading costs that align with industry standards, with variations based on its three available account types. The Prime account stands out with an average spread of 0.16 on the EUR/USD, resulting in a total cost of 0.76 when including the commission of 0.3 pips or $6 per 10,000 traded. This makes it a preferable option over the commission-free Standard account, which, while having no minimum deposit requirement, features higher spreads. For those looking to engage in more active trading, the ECN Institutional account is ideal, requiring a deposit of $20,000 and offering a commission of $2 per side or $4 per round turn. BlackBull Markets is rated 4.5 stars for commissions and fees and is ranked #18 out of 62 brokers by ForexBrokers.com.
LegacyFX provides a diverse range of account options, which differ based on whether you choose their EU entity governed by CySEC or their international entity in Vanuatu. For EU residents, LegacyFX offers Silver, Gold, and Platinum accounts, with minimum deposits set at $500, $5,000, and $25,000, respectively. The Platinum account boasts the lowest spreads, while the Silver account has spreads starting at a much higher 1.6 pips on the EUR/USD. For international clients, LegacyFX offers a broader selection with seven account types, each with different minimum deposits ranging from $500 for the Standard account to $50,000 for the VIP account, providing varied levels of client support and trading tool access. Unfortunately, there are no average spreads available for LegacyFX, which may make it challenging to evaluate overall trading costs. LegacyFX receives a 3.5-star rating in this category and holds a rank of #56 out of 62 brokers according to ForexBrokers.com.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $500 |
| Average Spread EUR/USD - Standard | 0.71 | N/A |
| All-in Cost EUR/USD - Active | 0.71 | 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.
When comparing BlackBull Markets and LegacyFX, there are significant differences in their range of investments. BlackBull Markets stands out with an impressive offering of 26,000 tradeable symbols, including 72 forex pairs. This broker allows investors to engage in both CFD and spot forex trading and offers access to exchange-traded securities on U.S. and international exchanges, meaning you can buy shares of companies like Apple and Vodafone directly. Additionally, BlackBull Markets provides options for copy trading and trading cryptocurrency derivatives, although it does not support buying actual cryptocurrencies. With these features, BlackBull Markets earns a 5-star rating and ranks 6th among 62 brokers in terms of investment offerings.
On the other hand, LegacyFX offers a more limited range with 425 tradeable symbols and 44 forex pairs. While it also supports both CFD and spot forex trading as well as copy trading and cryptocurrency derivatives, it lacks the option to purchase direct stocks from U.S. or international exchanges. For investors looking for a variety of investment avenues, this difference is notable. As a result, LegacyFX holds a 3.5-star rating in the range of investments category and is ranked 48th out of 62 brokers. When choosing between these two online brokers, the decision heavily depends on an investor's desire for diverse investment options.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 425 |
| Forex Pairs (Total) | 72 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 it comes to comparing the trading platforms and tools of BlackBull Markets and LegacyFX, both brokers offer various options, though there are notable differences. BlackBull Markets provides a comprehensive trading experience with both Windows-based desktop and web-based platforms, as well as MetaTrader 4 and MetaTrader 5 availability. Additionally, they support copy trading and unique features like ZuluTrade, with an extensive set of 60 drawing tools for charting. LegacyFX, meanwhile, offers a similar range of platforms, excluding MT4 but including MT5, along with its own web and desktop trading solutions. Both brokers offer simulated trading through demo accounts, allowing users to practice without financial risk.
Despite some similarities, such as both brokers not having proprietary platforms and the capability for direct trading from stock charts, BlackBull Markets appears to have a slight edge, boasting more charting tools, offering MT4, and gaining a higher user rating of four stars for their trading platforms and tools. In addition to a strong finish at #29 in the category ranking by ForexBrokers.com, BlackBull Markets surpasses LegacyFX, which earned a 3.5-star rating and placed at #59. LegacyFX, however, offers a slightly more detailed watch list feature, which could appeal to traders who prioritize monitor customization.
| Feature |
BlackBull Markets
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 30 |
| Charting - Drawing Tools (Total) | 60 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both BlackBull Markets and LegacyFX offer convenient mobile trading apps for both iPhone and Android users. Whether you're into stocks or forex, you can receive price alerts straight to your phone on both platforms. When it comes to technical charting, both apps offer 30 technical studies and the option to draw trendlines. You can also switch between different time frames, be it daily, weekly, or intraday. One area where these two brokers differ is in watchlist symbol syncing; BlackBull Markets allows you to sync your watchlist changes across devices, while LegacyFX does not.
Creating a watchlist with real-time quotes is easy on both BlackBull Markets and LegacyFX mobile apps. While both apps will auto-save your chart drawings, their overall ratings differ. BlackBull Markets holds a slightly higher rating of 4 stars, compared to LegacyFX's 3.5 stars. This slight edge is further reflected in their rankings on ForexBrokers.com, where BlackBull Markets stands at #31 out of 62 brokers for mobile trading apps, while LegacyFX is ranked at #60. If watchlist syncing and slightly higher ratings and rankings are important to you, BlackBull Markets might be the preferred choice.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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 BlackBull Markets and LegacyFX provide daily market commentary, making them a valuable resource for traders looking to stay informed. However, when it comes to accessing top-tier forex news, LegacyFX holds an advantage by offering insights from notable sources like Bloomberg and Reuters, a feature not available with BlackBull Markets. On the technical analysis front, both brokers offer tools from Autochartist, supporting traders with essential analytical resources. Yet, neither provides access to Trading Central’s services. A key differentiation for BlackBull Markets is its sentiment-based trading tool, enabling traders to gauge market sentiments through long or short position ratios, a feature missing from LegacyFX.
The economic calendar is available with both brokers, providing insights into global news events. Despite this similarity, BlackBull Markets outranks LegacyFX with a research rating of four stars compared to LegacyFX’s 3.5 stars. According to ForexBrokers.com, BlackBull Markets is ranked 18th out of 62 brokers for research, demonstrating a stronger offering in this category compared to LegacyFX’s 45th position. While neither broker offers market research from TipRanks or tools from Acuity Trading, BlackBull Markets’ higher rating and ranking highlight a more comprehensive research experience for traders.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | 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 it comes to educational resources for beginners, both BlackBull Markets and LegacyFX offer comprehensive options to support new traders. Each platform provides a minimum of ten educational articles, videos, or archived webinars focusing on forex and CFDs, ensuring that beginners have plenty of material to explore. Monthly online educational webinars are available with each broker, and both offer a searchable archive of these sessions, making it easy for learners to access past content. In addition to these offerings, both brokers provide at least ten beginner educational videos tailored to those new to trading.
BlackBull Markets and LegacyFX further cater to traders with more experience by offering at least ten advanced educational videos. They also each feature an investor dictionary with definitions of over 50 investing terms, giving users a foundation in the language of trading. However, when it comes to overall ratings, BlackBull Markets edges ahead with a 4-star rating compared to LegacyFX's 3.5 stars. Additionally, BlackBull Markets is ranked 29th out of 62 brokers in the Education category by ForexBrokers.com, slightly outperforming LegacyFX, which ranks 35th. These subtle differences may be factors to consider when choosing between the two for your educational needs.
| Feature |
BlackBull Markets
|
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 BlackBull Markets is better than LegacyFX. BlackBull Markets finished with an overall rank of #24, while LegacyFX finished with an overall rank of #62.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 67 |
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Both BlackBull Markets and LegacyFX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to buy cryptocurrency derivatives, allowing investors to engage in crypto trading without owning the actual digital currency.
Both BlackBull Markets and LegacyFX provide similar funding options, allowing deposits and withdrawals via Skrill, Visa/Mastercard, and bank wires, but neither broker supports ACH, SEPA transfers, or PayPal as payment methods.
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 | BlackBull Markets | LegacyFX | |
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| Trust Score | 78 | 67 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | LegacyFX Review |
| Broker Screenshots | BlackBull Markets | LegacyFX | |
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| Regulation | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 78 | 67 | |
| Year Founded | 2014 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | BlackBull Markets | 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 | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 425 | |
| Forex Pairs (Total) | 72 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.71 | N/A | |
| All-in Cost EUR/USD - Active | 0.71 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | 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 | BlackBull Markets | 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) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 109 | 30 | |
| Charting - Drawing Tools (Total) | 60 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | BlackBull Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | 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 | BlackBull Markets | 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 | BlackBull Markets Review | LegacyFX Review |
| Overall | BlackBull Markets | LegacyFX | |
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| Trust Score | 78 | 67 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | LegacyFX Review |
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