Written by ForexBrokers.com
In this head to head comparison of Libertex (Forex Club) 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.
Founded in 1997, Libertex (Forex Club) stands as a seasoned player in the online brokerage sector. It is not publicly traded and does not operate as a bank. Libertex holds one Tier-1 license, recognized for its high level of trust, and maintains a Trust Score rating of 73 out of 99, categorizing it as an average risk broker according to ForexBrokers.com standards. This score suggests a moderate level of trust among traders, offering a reliable platform for forex trading.
In comparison, LegacyFX, established in 2012, also refrains from being listed on a stock exchange or functioning as a bank. Like Libertex, it holds one Tier-1 license, symbolizing a similar trust factor in terms of regulatory oversight. Nevertheless, LegacyFX holds a ForexBrokers.com Trust Score rating of 67 out of 99, classifying it as a high-risk broker. This rating indicates a slightly lower confidence level compared to Libertex, suggesting traders should weigh their options carefully when considering LegacyFX for their trading needs.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Year Founded | 1997 | 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 | 0 | 1 |
When comparing the online brokers Libertex (Forex Club) and LegacyFX, especially in terms of commissions and fees, there are key differences to note. Libertex, rated 3 out of 5 stars for its commission and fees structure, lacks available data on average spreads, making it challenging to fully evaluate trading costs. Ranked 61st out of 62 brokers by ForexBrokers.com, Libertex seems to have room for improvement in this category.
LegacyFX, on the other hand, holds a slightly better rating of 3.5 stars and is ranked 56th in the same category. For EU residents, LegacyFX offers account types—Silver, Gold, and Platinum—that require minimum deposits of $500, $5,000, and $25,000, respectively. Platinum account users enjoy the lowest spreads, with costs increasing for Gold and significantly for Silver, which has minimum spreads starting at 1.6 pips on EUR/USD.
For international clients, LegacyFX provides seven account types with varied minimum deposits ranging from $500 to $50,000. The range of accounts determines the level of support and access to trading tools you receive, but, unfortunately, there are no average spreads available to thoroughly assess the trading costs. Understanding these setups can be crucial for investors making informed decisions between the two brokers.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $10 | $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 | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by Libertex (Forex Club) and LegacyFX, you'll find both brokers provide forex trading via CFDs or spot contracts, making them versatile options for forex enthusiasts. Libertex offers 300 tradeable symbols with 51 forex pairs, while LegacyFX provides 425 tradeable symbols and 44 forex pairs. However, if you're looking to invest directly in exchange-traded securities on U.S. or international exchanges, neither of these brokers supports such transactions. They both enable the buying of cryptocurrency derivatives rather than the actual cryptocurrency and offer copy trading to assist with your investment strategies.
When rated on their investment range, both Libertex and LegacyFX earn a 3.5-star rating. Despite similar ratings, LegacyFX slightly outranks Libertex, coming in at #48 out of 62 brokers according to ForexBrokers.com, while Libertex ranks at #53. This may be a consideration for traders seeking a broader array of tradable symbols, but both brokers provide a substantial offering and useful tools for those interested in trading forex and cryptocurrency derivatives.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 425 |
| Forex Pairs (Total) | 51 | 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 the trading platforms and tools of Libertex (Forex Club) and LegacyFX, there are several key features and options to consider. Both brokers provide simulated trading through free demo accounts, allowing users to practice without financial risk. Libertex stands out with its proprietary platform and compatibility with MetaTrader 4 (MT4), offering flexibility and familiarity for traders. On the other hand, LegacyFX supports MetaTrader 5 (MT5), catering to those who prefer the updated version of this popular platform. Both brokers offer desktop and web-based trading options, enabling traders to operate from their preferred devices.
In terms of technical support, Libertex offers 30 drawing tools, double the number provided by LegacyFX, giving users greater versatility in chart analysis. However, both platforms let traders execute trades directly from stock charts and maintain an equal number of seven fields in their watch lists. With a trading platform and tools rating of 4 stars, Libertex edges slightly ahead of LegacyFX, which scores 3.5 stars. According to ForexBrokers.com, Libertex ranks at #50, while LegacyFX trails behind at #59 out of 62 brokers, highlighting a modest advantage in their trading tool offerings.
| Feature |
Libertex (Forex Club)
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both Libertex (Forex Club) and LegacyFX make strong contenders by providing apps for iPhone and Android users. These apps ensure traders can keep tabs on stock and forex markets with ease. While both platforms offer essential features like price alerts and the ability to draw trendlines on charts, Libertex goes a step further by allowing watchlist symbol syncing. This feature is particularly appealing as it syncs the watchlists in the mobile app with the client’s online account, ensuring seamless updates.
Both apps are equipped with 30 technical studies for charting and allow viewing of multiple time frames, offering flexibility to traders. However, one downside for Libertex is that its app does not auto-save chart drawings, a feature provided by LegacyFX. In terms of real-time quotes, both brokers allow traders to create watchlists, giving them the tools they need for informed decisions. Reflecting user satisfaction, Libertex receives a slightly higher mobile trading app rating of 4 stars compared to LegacyFX’s 3.5 stars. Additionally, Libertex ranks higher than LegacyFX on ForexBrokers.com, standing at #48 out of 62 brokers, while LegacyFX comes in at #60.
| Feature |
Libertex (Forex Club)
|
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 | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing online brokers Libertex (Forex Club) and LegacyFX, market analysis and research tools are key factors to consider for informed trading. LegacyFX stands out by offering daily market commentary, providing traders with regular insights and perspectives. Both platforms deliver forex news from recognized sources such as Bloomberg, Reuters, and Dow Jones, ensuring traders have access to quality information. However, LegacyFX takes the lead with tools from Autochartist, a renowned provider of technical and fundamental analysis resources, while Libertex (Forex Club) does not currently offer such features.
Both brokers provide an economic calendar to help traders track global news events impacting the markets, but there are notable differences in their overall research capabilities. Neither broker has a sentiment-based trading tool or support from Trading Central and Acuity Trading. While Libertex (Forex Club) is rated 3 stars and ranks #60 out of 62 brokers in the Research category, LegacyFX surpasses with a rating of 3.5 stars and a #45 ranking. This suggests that traders seeking deeper research resources might find LegacyFX slightly more advantageous.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | 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 comparing the educational resources offered by Libertex (Forex Club) and LegacyFX, beginners can find distinct differences tailored to their learning preferences. Libertex provides more than ten educational materials, including articles and videos focusing on forex and CFDs. While they have a selection of advanced videos for experienced traders, they fall short in offering beginner-specific videos and lack regular online webinars and an archive of recorded webinars. Additionally, Libertex does not provide an investor dictionary to help clarify investing terms, and this results in them being placed towards the lower end of the education rankings, standing at #57 out of 62 brokers according to ForexBrokers.com.
In contrast, LegacyFX is a promising option for those just starting in trading, offering a comprehensive suite of educational resources. They provide more than ten beginner-focused videos, ensuring newcomers have access to essential learning materials. LegacyFX also hosts regular monthly webinars and offers a searchable archive, allowing learners to revisit past sessions. Another feature in their favor is an investor dictionary, featuring over 50 investing terminologies. With these offerings, LegacyFX achieves a slightly better education rating of 3.5 stars and ranks #35 in the education category by ForexBrokers.com.
| Feature |
Libertex (Forex Club)
|
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 | Yes | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Libertex (Forex Club) is better than LegacyFX. Libertex (Forex Club) finished with an overall rank of #60, while LegacyFX finished with an overall rank of #62.
Forex Club is a long-standing MetaTrader broker offering forex and CFDs, along it's more recently launched Libertex brand catering to the EU market with a proprietary web platform. The biggest issue with Libertex (Forex Club) is the few regulatory licenses it holds, which bring down its Trust Score, compared to the most trusted brokers.
| Feature |
Libertex (Forex Club)
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 73 | 67 |
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Both Libertex (Forex Club) and LegacyFX do not offer the ability to buy actual (delivered) cryptocurrencies, but they both provide the opportunity to trade cryptocurrency derivatives.
When comparing online brokers, Libertex (Forex Club) provides more versatile transaction options, offering ACH, SEPA transfers, PayPal, Skrill, and bank wire services but not Visa or Mastercard, while LegacyFX supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options.
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 | Libertex (Forex Club) | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
| Broker Screenshots | Libertex (Forex Club) | LegacyFX | |
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| Regulation | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Trust Score | 73 | 67 | |
| Year Founded | 1997 | 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 | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Libertex (Forex Club) | 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) | Libertex (Forex Club) | 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 | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 300 | 425 | |
| Forex Pairs (Total) | 51 | 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 | Libertex (Forex Club) | 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 | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $10 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Libertex (Forex Club) | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Libertex (Forex Club) | 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 | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Libertex (Forex Club) | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | 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 | Libertex (Forex Club) | 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 | Yes | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Libertex (Forex Club) | 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 | Libertex (Forex Club) | LegacyFX | |
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| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | LegacyFX Review |
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