Written by ForexBrokers.com
In this head to head comparison of Trading 212 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.
When comparing the online brokers Trading 212 and LegacyFX, it's important to consider their history and trustworthiness. Trading 212 was founded in 2004, while LegacyFX began operations in 2012. Neither of these brokers are publicly traded or operate as banks. Trading 212 has earned a Trust Score of 79 out of 99 according to ForexBrokers.com, indicating an average risk level. The broker is licensed with two Tier-1 regulatory bodies, known for high trust levels, adding a layer of reliability to its services.
On the other hand, LegacyFX has a slightly lower Trust Score of 67, placing it in the high-risk category. Like Trading 212, LegacyFX also chooses not to operate as a bank or be listed on stock exchanges. It holds one Tier-1 license, which reflects its attempt to ensure some degree of investor confidence. While both platforms meet essential regulatory standards, Trading 212 slightly edges out LegacyFX in terms of perceived trust and regulatory backing.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Year Founded | 2004 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Trading 212 and LegacyFX, their commission structures and fees play a major role in determining which broker suits your trading style best. Trading 212 offers a CFD account that requires a minimum deposit of 10 euros and promotes zero-commission trading on CFDs and forex, although traders need to be mindful of spreads. For the EUR/USD pair, Trading 212's average spread in January 2024 was 1.9 pips, which is relatively high compared to industry standards. This broker holds a 4-star rating for commission and fees and ranks 43rd out of 62 brokers in this category, according to ForexBrokers.com.
LegacyFX provides different account options depending on whether you choose their EU-regulated entity under CySEC or their international entity in Vanuatu. The EU accounts—Silver, Gold, and Platinum—require minimum deposits of $500, $5,000, and $25,000, respectively, with spreads lowest in the Platinum account. However, no average spreads are available at LegacyFX, making it difficult to gauge trading costs accurately. On the international side, seven account types range from Standard to VIP, with varying minimum deposits and trading tool access. LegacyFX is rated 3.5 stars for commissions and fees and holds a lower ranking of 56th on the same list.
In essence, while Trading 212 offers more transparency in its pricing structure despite higher spreads, LegacyFX gives more account flexibility but lacks detailed cost clarity. Depending on your trading needs—whether it's lower starting costs and clear spread data or a broader choice of accounts—you'll find each broker has distinct advantages and limitations to consider.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | €10 | $500 |
| Average Spread EUR/USD - Standard | 1.9 | N/A |
| All-in Cost EUR/USD - Active | 1.9 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Trading 212 and LegacyFX for the variety of investments they offer, Trading 212 stands out significantly. Trading 212 offers an impressive array of 8,025 tradeable symbols, encompassing a wide range of assets. This includes access to 146 forex pairs, which can be traded either as CFDs or spot contracts. Furthermore, Trading 212 provides an attractive option for those interested in exchange-traded securities; individuals can purchase real shares on both U.S. and international exchanges. This accessibility is complemented by the availability of cryptocurrency derivatives, though actual cryptocurrencies cannot be purchased through the platform.
LegacyFX, on the other hand, presents a more limited selection. With only 425 tradeable symbols and 44 forex pairs, there are fewer options for diversification. While LegacyFX does enable trading in forex as CFDs or spot contracts and offers cryptocurrency derivatives, it lacks the capability for clients to invest in exchange-traded securities on U.S. or international exchanges. Notably, LegacyFX distinguishes itself by offering copy trading, which Trading 212 does not. Despite this, Trading 212's extensive offering earns it a higher rating of five stars for its range of investments, whereas LegacyFX receives a rating of three and a half stars.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8025 | 425 |
| Forex Pairs (Total) | 146 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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.
Trading 212 and LegacyFX both offer traders the chance to engage in simulated trading with complimentary virtual demo accounts, catering to novices and experienced traders alike. Trading 212 stands out with its in-house designed trading platform, providing a unique user experience without needing additional software installations, as it does not offer a Windows-based desktop download. On the other hand, LegacyFX offers a traditional setup through a Windows downloadable platform along with access to MetaTrader 5 (MT5), appealing to those familiar with this widely-used trading software. Both platforms are accessible via web browsers, offering convenience and flexibility, although Trading 212 would be the choice for those seeking a more streamlined, browser-based experience.
When it comes to trading tools, Trading 212 provides an edge in charting with 20 drawing tools and the ability to execute trades directly from stock charts. LegacyFX, while also allowing trades directly from charts, offers slightly fewer drawing tools, totaling 15. Additionally, Trading 212 offers watch lists with 5 columns for customization, whereas LegacyFX allows more detailed tracking with 7 columns. However, LegacyFX supports copy trading, an option Trading 212 lacks. In terms of ratings and rankings by ForexBrokers.com, Trading 212 is rated higher with 4 stars, placed at #21 for its trading platforms and tools out of 62 brokers. Conversely, LegacyFX garners 3.5 stars and stands at #59, indicating a more beginner-friendly suite of tools might be offered by Trading 212, while LegacyFX caters to those who prefer traditional features.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 54 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Trading 212 and LegacyFX offer mobile trading apps for iPhone and Android users, catering to traders who need access on the go. They both provide stock or forex price alerts, allowing users to stay updated on market movements. While the apps share some similar features, such as the ability to draw trendlines and view multiple time frames on stock or forex charts, they differ significantly when it comes to technical studies available for charting. Trading 212 boasts an impressive 104 technical studies, compared to LegacyFX's 30, making it a more attractive option for those who rely heavily on technical analysis.
Another area where Trading 212 sets itself apart is in watchlist symbol syncing between the mobile app and the online account, a feature LegacyFX does not offer. This allows Trading 212 users to seamlessly manage their watchlists across platforms. Both apps provide real-time quotes and auto-save drawings on charts, enhancing user experience. Trading 212 is rated 4 stars by users for its mobile trading app, while LegacyFX holds a 3.5-star rating. Furthermore, Trading 212 ranks at 17 out of 62 brokers on ForexBrokers.com for its mobile trading apps, making it a more popular choice compared to LegacyFX’s rank at 60.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 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.
When considering market research offerings, Trading 212 and LegacyFX each present distinct features to potential users. LegacyFX provides daily market commentary, a feature not available with Trading 212. Both platforms supply forex news from top sources like Bloomberg and Reuters, ensuring reliable information. LegacyFX further distinguishes itself by offering technical analysis tools from Autochartist, while Trading 212 provides a unique sentiment-based trading tool that LegacyFX lacks. Trading Central tools are not offered by either broker, and both Trading 212 and LegacyFX forego market research from TipRanks or Acuity Trading. However, an economic calendar that tracks worldwide economic events is available from both brokers.
In terms of ratings, both Trading 212 and LegacyFX score an identical 3.5 out of 5 stars for research. Despite similar ratings, LegacyFX edges just ahead of Trading 212 in the research category rankings on ForexBrokers.com, holding the 45th spot compared to Trading 212’s 46th position, out of a total of 62 brokers. Whether prioritizing market commentary, news sources, or specific analysis tools can guide your choice between these platforms for comprehensive market research support.
| Feature |
Trading 212
|
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 | 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 beginner traders, both Trading 212 and LegacyFX are quite similar, offering a wide array of materials to help users learn about the forex and CFD markets. Each platform provides more than ten educational pieces, including articles, videos, and archived webinars. They both host online educational webinars monthly and maintain searchable archives of these sessions for further learning. Beginners can also benefit from at least ten introductory educational videos on trading topics offered by both brokers. Additionally, each platform caters to seasoned traders by providing at least ten advanced educational videos. For educational support, both trading platforms offer an investor dictionary with over 50 investing terms, serving as a helpful resource for understanding complex concepts.
Despite their extensive educational offerings, Trading 212 and LegacyFX receive a similar education rating of 3.5 out of 5 stars. However, there is a noticeable difference in their ranking within the Education category by ForexBrokers.com. Trading 212 ranks higher at 20th out of 62 brokers, while LegacyFX is positioned at 35th. This suggests Trading 212 may be perceived as slightly more effective in delivering educational value to its users, although both platforms remain strong contenders for beginners eager to delve into the world of trading.
| Feature |
Trading 212
|
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 Trading 212 is better than LegacyFX. Trading 212 finished with an overall rank of #31, while LegacyFX finished with an overall rank of #62.
Best known for its mobile trading app, Trading 212 offers an easy-to-use trading platform suite for CFD and share trading, as well as a large variety of forex pairs. However, despite its well-designed platform and wide range of symbols, its lack of advanced trading tools and flat research offerings hamper Trading 212’s bid to be considered a top broker.
| Feature |
Trading 212
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 79 | 67 |
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Neither Trading 212 nor LegacyFX offers the ability to purchase actual delivered cryptocurrency, but both platforms provide options to buy cryptocurrency derivatives.
When comparing Trading 212 and LegacyFX for fund deposit and withdrawal options, Trading 212 supports ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, but not Skrill, whereas LegacyFX offers Visa, Mastercard, bank wires, and Skrill, without ACH, SEPA, or 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 | Trading 212 | LegacyFX | |
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| Trust Score | 79 | 67 | |
| Winner | check_circle | ||
| Review | Trading 212 Review | LegacyFX Review |
| Broker Screenshots | Trading 212 | LegacyFX | |
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| Regulation | Trading 212 | LegacyFX | |
|---|---|---|---|
| Trust Score | 79 | 67 | |
| Year Founded | 2004 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Trading 212 | 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) | Trading 212 | 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 | Trading 212 | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8025 | 425 | |
| Forex Pairs (Total) | 146 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | Trading 212 | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.9 | N/A | |
| All-in Cost EUR/USD - Active | 1.9 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Trading 212 | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | €10 | $500 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Trading 212 | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Trading 212 | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 54 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Trading 212 | 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 | 104 | 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 | Trading 212 | 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 | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Trading 212 | 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 | Trading 212 | 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 | Trading 212 Review | LegacyFX Review |
| Overall | Trading 212 | LegacyFX | |
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| Trust Score | 79 | 67 | |
| Winner | check_circle | ||
| Review | Trading 212 Review | LegacyFX Review |
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