Written by ForexBrokers.com
In this head to head comparison of TopFX 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 2010, TopFX and LegacyFX, established in 2012, are both online brokers that have distinct reputations in the trading industry. Neither TopFX nor LegacyFX are publicly traded or function as banks, and each holds one Tier-1 license, signifying a high level of trust according to ForexBrokers.com. Although their regulatory frameworks appear similar, their ForexBrokers.com Trust Scores indicate a higher level of risk, both standing at 67 out of 99, placing them in the high-risk category.
Both TopFX and LegacyFX operate without Tier-2 licenses, which might be a factor in their current Trust Scores. While both brokers demonstrate an ability to maintain a singular highly-trusted Tier-1 license, potential clients should be aware of the risks, considering their Trust Scores suggest a need for caution when engaging with either broker for trading activities.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Year Founded | 2010 | 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 |
TopFX offers traders a choice between two account types on MetaTrader and cTrader platforms: the ZERO and RAW accounts. The ZERO account is free of commission but comes with average spreads of 1.03 pips on the popular EUR/USD pair as of July 2024. Conversely, the RAW account maintains more competitive spreads, averaging around 0.33 pips while also charging a commission of 2.75 EUR per side—translating to about 0.88 pips in total cost per trade, which aligns with the industry's standard. A minimum deposit is required, varying with the chosen payment method. TopFX earns a solid 4-star rating for its reasonable commission and fee structure and holds the 40th position out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
LegacyFX provides varied account options based on their EU-regulated or Vanuatu-based entities, yet lacks published average spreads for transparent comparison. The EU offering includes Silver, Gold, and Platinum accounts with respective minimum deposits of $500, $5,000, and $25,000, with Platinum accounts having the lowest advertised spreads. The Silver account remains the costliest among these, starting at 1.6 pips on the EUR/USD pair. For international clients in Vanuatu, seven account variants are available ranging from Standard at a $500 minimum up to VIP at $50,000, each granting different levels of trading tool access and customer support. LegacyFX holds a 3.5-star rating for commissions and fees and ranks 56th among 62 brokers as appraised by ForexBrokers.com.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | Depends on payment method | $500 |
| Average Spread EUR/USD - Standard | 1.03 | N/A |
| All-in Cost EUR/USD - Active | 0.88 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | 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.
TopFX and LegacyFX both provide various investment options, including forex trading as CFDs or spot contracts. TopFX offers a more extensive selection with 655 tradable symbols and 60 forex pairs, compared to LegacyFX’s 425 symbols and 44 forex pairs. Neither platform allows direct purchase of exchange-traded securities on U.S. or international exchanges, meaning you can't buy actual shares, such as Apple or Vodafone, through either broker. Both brokers support copy trading, and while they do not facilitate buying actual cryptocurrencies, they do offer cryptocurrency derivatives.
In terms of investment range, both TopFX and LegacyFX share a star rating of 3.5 out of 5, indicating similar customer satisfaction levels. However, ForexBrokers.com ranks TopFX slightly higher at #46, while LegacyFX follows closely at #48 out of 62 brokers evaluated in the Range of Investments category. This suggests both brokers offer a comparable mix of trading opportunities, albeit with notable variations in the specifics of their offerings.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 655 | 425 |
| Forex Pairs (Total) | 60 | 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 TopFX and LegacyFX, both brokers provide users with access to paper trading through free virtual demo accounts, helping traders hone their skills without financial risk. Neither broker offers a proprietary platform, but both support a Windows-based desktop trading platform and web-based platform access for ease of use. For traders interested in copy trading, both TopFX and LegacyFX cater to this need. However, there's a notable difference in platform variety: TopFX supports MetaTrader 4 (MT4) while LegacyFX supports MetaTrader 5 (MT5), catering to different trader preferences.
In terms of charting tools, both brokers offer a solid set of drawing tools, numbering 15 each, to aid in analysis. Additionally, both brokers allow trades to be executed directly from stock charts and offer a similarly functional watch list feature, with seven customizable columns. Despite these similarities, TopFX is rated slightly higher with four stars for its trading platforms and tools, as opposed to LegacyFX's 3.5-star rating. This is reflected in ForexBrokers.com's rankings, where TopFX holds the 44th position out of 62 brokers, compared to LegacyFX's 59th spot, highlighting a slight edge in their platform and tool offerings.
| Feature |
TopFX
|
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 | 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 TopFX and LegacyFX offer mobile trading apps compatible with iPhone and Android devices, providing stock and forex price alerts to keep traders informed on the go. In terms of charting tools, both platforms equip their apps with 30 technical studies, trendline drawing capabilities, and the option to view different time frames, such as daily, weekly, or intraday charts. Users can create watchlists with real-time quotes, although neither service offers watchlist symbol syncing, meaning your lists on the mobile app won't synch with your online account.
While both apps automatically save chart drawings for convenience, TopFX edges out LegacyFX in terms of user ratings with a mobile trading app score of 4 stars out of 5, compared to LegacyFX's 3.5 stars. This slight advantage is reflected in their rankings by ForexBrokers.com, with TopFX positioned at #51 out of 62 brokers, while LegacyFX trails at #60. Both services offer solid mobile trading features, but TopFX's performance earns it a marginally higher overall rating.
| Feature |
TopFX
|
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.
TopFX and LegacyFX stand out for their comprehensive market tools and research offerings, though there are considerable differences tailored for different needs. Both brokers provide timely forex news from reputable sources such as Bloomberg and Reuters, ensuring traders have access to credible information. When it comes to technical analysis, TopFX and LegacyFX both utilize Autochartist tools, while only TopFX offers advanced insights from Trading Central. Furthermore, traders with TopFX have access to sentiment-based tools that display the ratio of long and short positions, a feature not available with LegacyFX.
LegacyFX, on the other hand, excels with offerings like daily market commentary, providing richer market insights compared to TopFX. Even though neither broker offers research tools from companies like TipRanks or Acuity Trading, they both incorporate economic calendars to keep traders alerted to important global events. Rated slightly higher in research with 3.5 stars compared to TopFX's 3 stars, LegacyFX is ranked 45th out of 62 brokers by ForexBrokers.com, outperforming TopFX, which stands at 59th in their research category ranking.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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 TopFX and LegacyFX, LegacyFX clearly stands out in the realm of educational resources for beginner traders. LegacyFX provides a comprehensive learning experience with over 10 educational pieces focused on forex and CFDs. New traders can benefit from their regular monthly webinars and dive into a rich archive of past sessions. LegacyFX also offers more than 10 beginner-level educational videos, enriching the learning process with easy-to-understand content. For those looking to deepen their knowledge, advanced traders won’t be left out as LegacyFX also provides videos tailored for seasoned investors. Additionally, their investor dictionary includes over 50 investing terms, making it a handy resource for newcomers.
On the other hand, TopFX falls short in educational offerings when compared to LegacyFX. TopFX does not reach the benchmark of providing a minimum of 10 educational pieces and lacks monthly webinars or an archive of recorded sessions. Beginner and advanced educational videos are also absent from their offerings, potentially leaving new and experienced traders alike without necessary instructional resources. Despite these gaps, TopFX isn't entirely without merit, as it achieves a respectable education rating of 3 stars, compared to LegacyFX's 3.5 stars. Rankings by ForexBrokers.com place TopFX at #60 and LegacyFX at #35 out of 62 brokers, highlighting the stronger educational focus provided by LegacyFX.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 TopFX is better than LegacyFX. TopFX finished with an overall rank of #61, while LegacyFX finished with an overall rank of #62.
TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.
| Feature |
TopFX
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 67 | 67 |
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Both TopFX and LegacyFX provide investors with the opportunity to trade cryptocurrency derivatives, although neither platform supports purchasing actual (delivered) cryptocurrency assets.
When comparing the online brokers TopFX and LegacyFX in terms of funding options, TopFX offers PayPal, Skrill, Visa or Mastercard, and bank wires, while LegacyFX provides funding options such as Skrill, Visa or Mastercard, and bank wires, but does not offer PayPal; neither broker supports ACH or SEPA transfers for 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.
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0 of 5| Overall Rating | TopFX | LegacyFX | |
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| Trust Score | 67 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review | LegacyFX Review |
| Broker Screenshots | TopFX | LegacyFX | |
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| Regulation | TopFX | LegacyFX | |
|---|---|---|---|
| Trust Score | 67 | 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 | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | TopFX | 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) | TopFX | 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 | TopFX | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 655 | 425 | |
| Forex Pairs (Total) | 60 | 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 | TopFX | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.03 | N/A | |
| All-in Cost EUR/USD - Active | 0.88 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TopFX | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | Depends on payment method | $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 | No | No |
| Trading Platforms | TopFX | 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TopFX | 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 | TopFX | 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 | TopFX | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TopFX | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | TopFX | 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 | TopFX Review | LegacyFX Review |
| Overall | TopFX | LegacyFX | |
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| Trust Score | 67 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review | LegacyFX Review |
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