Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and LegacyFX are notable players in the online trading world, each bringing distinct qualities to the table. Founded in 2010, Pepperstone is celebrated for its high level of trust with a ForexBrokers.com Trust Score of 95 out of 99. This score reflects its solid regulatory standing, as it holds three Tier-1 licenses and two Tier-2 licenses, marking it as a highly trusted broker. Although not publicly traded or a bank, Pepperstone's comprehensive regulation ensures a secure trading environment for its users.
LegacyFX, established in 2012, offers a different perspective on trust and regulation. With a Trust Score of 67, it falls into the average risk category according to ForexBrokers.com, which is supported by its possession of only one Tier-1 license and no Tier-2 licenses. Like Pepperstone, LegacyFX is neither publicly traded nor a bank. Nonetheless, traders seeking a broker with more comprehensive regulatory credentials might find Pepperstone's offerings more comforting.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Year Founded | 2010 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone and LegacyFX offer different approaches when it comes to commissions and fees. Pepperstone is favored for its Razor account, known for competitive pricing when used with the Active Trader program, making it an attractive choice for high-volume traders. With a commission-based pricing structure plus prevailing spreads, the Razor account's all-in cost is about 0.80 pips for the EUR/USD, aligning with average industry costs. In contrast, Pepperstone’s Standard account incurs no commission but has higher average spreads of 1.1 pips, making it a pricier option overall. Meanwhile, professional traders in the UK and the EU, as well as Australia, can benefit from additional spread rebates under certain trading volumes through the Active Trader program.
LegacyFX, on the other hand, provides account options depending on whether clients choose the EU entity regulated by CySEC or its international entity in Vanuatu. Unfortunately, detailed average spreads are not disclosed, making it challenging to gauge exact trading costs with LegacyFX. For the EU entity, trading costs range with account types; the Silver account highlights this with minimum spreads from 1.6 pips on the EUR/USD, making it the most cost-intensive among their options. The international entity offers a variety, expanding to seven different account types, but the specific costs and spreads need clearer definition for accurate comparison.
In terms of ratings, Pepperstone scores an impressive 4.5 out of five stars, ranking as the 10th best broker for commissions and fees category according to ForexBrokers.com. LegacyFX, however, trails behind with a 3.5-star rating, positioned at 56 out of 62 brokers. This ranking underscores Pepperstone's appeal for traders seeking cost-effective solutions, whereas LegacyFX could benefit from greater transparency in pricing to enhance its competitiveness.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $0 | $500 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | 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) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and LegacyFX both allow investors to engage in forex trading via CFDs or spot contracts. However, Pepperstone boasts a considerably larger selection of tradeable symbols, offering 1,726 options compared to LegacyFX's 425. In terms of forex pairs specifically, Pepperstone again takes the lead with 65 pairs available, while LegacyFX provides 44. Both brokers do not offer exchange-traded securities on U.S. or international exchanges, meaning investors won't have options like buying Apple or Vodafone shares directly.
While Pepperstone and LegacyFX facilitate trading in cryptocurrency derivatives, neither offers the purchase of actual cryptocurrencies. Copy trading is supported by both platforms, allowing users to mimic successful traders' moves. On the investment range front, Pepperstone earns a slightly higher rating, holding 4 stars compared to LegacyFX's 3.5 stars. Consequently, on ForexBrokers.com's list, Pepperstone is ranked 26th out of 62 brokers, whereas LegacyFX is positioned at 48th, indicating Pepperstone’s broader range of investment options.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 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.
Pepperstone and LegacyFX both offer traders the opportunity to practice with free virtual demo accounts, making it easy for beginners to get started without any risk. When it comes to the platforms they provide, Pepperstone takes the lead with their proprietary trading platform developed in-house, alongside popular options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). LegacyFX, on the other hand, offers MetaTrader 5, but not MT4, and lacks a proprietary platform. Both brokers allow trading through Windows-based desktop and web-based platforms. Additionally, Pepperstone provides DupliTrade for copy trading, while neither offers ZuluTrade capabilities.
For charting, Pepperstone provides more flexibility with 30 drawing tools compared to LegacyFX’s 15, and both brokers allow trading directly from stock charts. When looking at watch lists, both platforms offer 7 customizable fields. However, the overall user experience in trading platforms and tools gives Pepperstone an edge with a rating of 4 stars compared to LegacyFX's 3.5 stars, according to ForexBrokers.com. This is reflected in their rankings as Pepperstone places 22nd out of 62 brokers, while LegacyFX is further down at 59th, highlighting Pepperstone's stronger foothold in the trading platform arena.
| Feature |
Pepperstone
|
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 | Yes | 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.
If you're deciding between Pepperstone and LegacyFX for mobile trading, both brokers offer apps for iPhone and Android, ensuring easy access to your trading account no matter your device. Pepperstone and LegacyFX both equip their users with essential features, including price alerts for stocks and forex, the ability to draw trendlines, and charts that support multiple time frames like daily, weekly, or intraday views. Meanwhile, both apps also allow drawings to be auto-saved, incorporating thoughtful touches for traders needing flexibility on the go. In terms of technical studies, each platform provides an equal arsenal of 30 options, letting traders conduct detailed analysis without limitations.
However, Pepperstone takes a slight lead with its watchlist symbol syncing feature, allowing seamless updates between a user's mobile device and online account, a perk LegacyFX does not offer. While both platforms enable the creation of watchlists with real-time quotes, Pepperstone edges ahead in user ratings, earning 4 stars compared to LegacyFX's 3.5. Additionally, Pepperstone ranks 21st in the Mobile Trading Apps category out of 62 brokers evaluated by ForexBrokers.com, outpacing LegacyFX's 60th place ranking. Ultimately, while both brokers deliver a strong mobile trading experience, Pepperstone's enhanced syncing feature and higher user ratings may appeal more to tech-savvy traders seeking a well-rounded mobile trading solution.
| Feature |
Pepperstone
|
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.
Pepperstone and LegacyFX both provide comprehensive market research tools that appeal to traders seeking reliable information. They each offer daily market commentary and access to top-tier forex news from esteemed sources like Bloomberg and Reuters. For technical analysis, both brokers utilize Autochartist, a well-regarded tool for traders, but neither offers resources from Trading Central. While Pepperstone includes a sentiment-based trading tool that tracks long and short positions across various currency pairs, LegacyFX lacks this feature.
Both brokers provide an economic calendar that outlines crucial global news events, aiding traders in staying informed. However, neither offers research tools from Acuity Trading or market insights from TipRanks. In terms of research quality, Pepperstone is rated at 4.5 stars and is ranked 12th among 62 brokers by ForexBrokers.com, reflecting a robust offering in this category. Meanwhile, LegacyFX is rated 3.5 stars and holds the 45th rank, suggesting room for improvement in its market research offerings.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | 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.
For beginners looking to dive into the world of trading, both Pepperstone and LegacyFX offer plenty of educational resources. Each platform provides more than ten educational pieces focusing on forex and CFDs, which include articles, videos, and archived webinars, making it easier for newcomers to learn the ropes. Additionally, both brokers host at least one educational webinar a month and have searchable archives of past webinars, ensuring access to a wealth of information. Pepperstone and LegacyFX also cater to different experience levels, presenting over ten videos tailored for both beginner and advanced traders. Each broker also provides an investor dictionary with over fifty investing terms, helping traders become familiar with essential jargon.
When it comes to ratings and rankings, Pepperstone takes a slight lead with a 4.5-star rating for education, ranking 18th out of 62 brokers as per ForexBrokers.com. In comparison, LegacyFX receives a 3.5-star rating and is placed 35th. This suggests that while both brokers provide substantial educational materials, Pepperstone might offer a slightly more comprehensive package for those striving to enhance their trading knowledge.
| Feature |
Pepperstone
|
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 Pepperstone is better than LegacyFX. Pepperstone finished with an overall rank of #16, while LegacyFX finished with an overall rank of #62.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 67 |
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Both Pepperstone and LegacyFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
Pepperstone outshines LegacyFX in deposit and withdrawal options by offering ACH, SEPA, and PayPal services, in addition to shared offerings like Skrill, Visa, Mastercard, and bank wires, while LegacyFX lacks both ACH/SEPA and PayPal support.
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 | Pepperstone | LegacyFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | LegacyFX Review |
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| Regulation | Pepperstone | LegacyFX | |
|---|---|---|---|
| Trust Score | 95 | 67 | |
| Year Founded | 2010 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | 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). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | 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 | Pepperstone | 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 | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | 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 | Pepperstone | 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 | Pepperstone | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | LegacyFX Review |
| Overall | Pepperstone | LegacyFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | LegacyFX Review |
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