Written by ForexBrokers.com
In this head to head comparison of VT 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.
VT Markets, established in 2016, and LegacyFX, founded in 2012, are both privately-held online brokers not listed on any stock exchange and neither operates as a bank. When it comes to trust and safety, VT Markets holds a higher Trust Score of 70 according to ForexBrokers.com, placing it within the average risk category. Meanwhile, LegacyFX has a slightly lower Trust Score of 67, positioning it on the cusp of the high-risk category. Both companies are equipped with one Tier-1 license, indicating a high level of trustworthiness, but VT Markets edges ahead with an additional Tier-2 license, denoting it as slightly more trusted overall.
While both brokers are relatively new entrants to the online trading industry, they show different regulatory footprints. VT Markets, with its combination of Tier-1 and Tier-2 licenses, provides a slightly more reassuring trust profile for potential clients compared to LegacyFX, which lacks Tier-2 licensing. Each broker's regulatory approval highlights their dedication to maintaining secure and reliable trading environments, despite the variance in trust scores and licensing.
| Feature |
VT Markets
|
LegacyFX
|
|---|---|---|
| Year Founded | 2016 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When evaluating online brokers VT Markets and LegacyFX based on their commissions and fees, VT Markets stands out with its dual account offerings: the Raw ECN and the Standard STP. The Raw ECN account offers a more competitive pricing structure with a typical effective spread of 0.83 pips on the EUR/USD, which includes a 0.6 round-turn commission. In contrast, the Standard STP account is commission-free but comes with higher spreads, averaging at 1.2 pips for the EUR/USD. Both account types at VT Markets require a minimum deposit of $100. As a result, VT Markets is rated 4.5 stars for its cost-effective trading options and ranks #20 out of 62 brokers in the Commissions and Fees category on ForexBrokers.com.
LegacyFX provides a more complex structure with its EU and international entities, offering different account types with varying spreads and deposit requirements. Within the EU, LegacyFX has three account tiers: Silver, Gold, and Platinum, requiring minimum deposits of $500, $5,000, and $25,000, respectively, with the Platinum account having the most competitive spreads. Conversely, the international entity in Vanuatu offers seven account types, ranging from Standard to VIP, with minimum deposits from $500 to $50,000. However, the lack of disclosed average spreads makes it challenging to accurately assess trading costs at LegacyFX. Because of this uncertainty and higher trading costs in certain accounts, LegacyFX receives a 3.5-star rating and ranks #56 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
Overall, VT Markets provides a more straightforward and transparent fee structure with competitive pricing for traders, earning a higher star rating and ranking compared to LegacyFX. LegacyFX, while offering a variety of accounts that can cater to different traders' needs, lacks transparency in spread costs, which affects its competitiveness in terms of fees.
| Feature |
VT Markets
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $100 | $500 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Active Trader or VIP Discounts | No | 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.
VT Markets and LegacyFX both offer forex trading as a CFD or spot contract, catering to traders interested in currency markets. VT Markets provides a wider selection of tradeable symbols, boasting 1,000 options compared to LegacyFX's 425. However, when it comes to forex pairs, LegacyFX takes a slight lead with 44 pairs, while VT Markets offers 39. Neither brokerage allows trading of U.S. exchange-listed stocks like Apple directly, but VT Markets excels by providing access to international exchange securities, such as Vodafone shares, which LegacyFX does not offer.
Both brokers support copy trading, allowing users to mimic the trades of seasoned investors. In terms of cryptocurrency offerings, they enable trading of cryptocurrency derivatives but do not offer actual cryptocurrency purchases. VT Markets and LegacyFX each have a 3.5-star rating for their range of investments, yet VT Markets ranks higher in the category at #39 out of 62 brokers, whereas LegacyFX is positioned at #48. This indicates VT Markets offers a slightly more expansive range for diverse trading options.
| Feature |
VT Markets
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1000 | 425 |
| Forex Pairs (Total) | 39 | 44 |
| U.S. Stock Trading (Non CFD) | No | 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 comparing online brokers VT Markets and LegacyFX, both offer free virtual demo accounts, providing users a risk-free environment to test their trading strategies. Neither broker provides a proprietary platform, but they both cater to Windows users with downloadable desktop platforms and offer web-based options for those who prefer browser-based trading. Additionally, both brokers support copy trading, allowing traders to mirror the actions of more experienced investors. However, when it comes to MetaTrader 4 (MT4) compatibility, only VT Markets offers this platform, while both brokers provide access to MetaTrader 5 (MT5). Despite their similarities, neither supports DupliTrade or ZuluTrade.
VT Markets stands out slightly in terms of charting and watch list features, offering 30 drawing tools compared to LegacyFX's 15, and both brokers enable trading directly from charts. Their watch list options are comparable, with each offering seven fields for customization. User ratings and rankings further highlight differences, as VT Markets boasts a 4-star rating for their trading platforms and tools, compared to LegacyFX's 3.5 stars. This difference is reflected in ForexBrokers.com's rankings, where VT Markets is positioned at #47 out of 62 brokers, while LegacyFX is further down the list at #59. Overall, VT Markets appears to have a slight edge in platform offerings and user satisfaction compared to LegacyFX.
| Feature |
VT 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 | 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 comparing the mobile trading apps of VT Markets and LegacyFX, both brokers offer iPhone and Android apps that provide features such as stock and forex price alerts and the ability to create a watchlist with real-time quotes. However, neither platform offers watchlist symbol syncing between the mobile app and the client's online account. For charting, each app supports 30 technical studies and allows users to draw trendlines and view multiple time frames on stock or forex charts. A notable difference is that LegacyFX's app auto-saves chart drawings, whereas VT Markets' app does not.
In terms of user satisfaction, VT Markets earns a slightly higher mobile trading app rating with 4 stars compared to LegacyFX's 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where VT Markets stands at #44 out of 62 brokers, while LegacyFX is positioned at #60. Both apps provide solid trading functionalities, but VT Markets edges out LegacyFX in terms of overall user satisfaction according to available ratings and rankings.
| Feature |
VT Markets
|
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 | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
VT Markets and LegacyFX both offer extensive market research features for traders seeking daily insights. Both platforms provide daily market commentary and access to high-quality forex news from sources like Bloomberg, Reuters, or Dow Jones. While VT Markets excels with its sentiment-based trading tool and resources from Trading Central, LegacyFX stands out with its technical analysis tools from Autochartist. Furthermore, both brokers offer comprehensive economic calendars that track important global events, ensuring traders stay informed of current and upcoming market trends.
When it comes to research ratings, VT Markets and LegacyFX receive 3.5 stars out of five, indicating solid research offerings. However, ForexBrokers.com ranks VT Markets slightly higher at 36th position among 62 brokers compared to LegacyFX at 45th. Both platforms offer a dependable research experience for traders, although each has its distinct strengths regarding available tools and resources.
| Feature |
VT Markets
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | 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.
Both VT Markets and LegacyFX provide a wealth of educational resources for beginners looking to learn about forex and CFDs. Each broker offers more than ten educational pieces, such as articles and videos, dedicated to these subjects. When it comes to beginner-focused content, both brokers deliver with a collection of over ten videos tailored for those just stepping into the trading world. Moreover, each offers an investor dictionary with definitions for at least fifty investing terms, helping newcomers to get familiar with essential trading jargon.
However, LegacyFX seems to take it a step further in the realm of ongoing education with monthly online client webinars and a searchable archive of past webinars, creating a more dynamic learning environment. Additionally, LegacyFX provides a selection of advanced educational videos for traders who want to deepen their trading expertise. These offerings may contribute to its better ranking, coming in at #35 for education among 62 brokers, in contrast to VT Markets' position at #55. Even though both brokers earn a 3.5-star rating for their educational content, LegacyFX seems to provide a slightly more comprehensive education experience for those who are eager to learn.
| Feature |
VT Markets
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 VT Markets is better than LegacyFX. VT Markets finished with an overall rank of #45, while LegacyFX finished with an overall rank of #62.
VT Markets benefits from being part of the Vantage Group of companies, and provides access to the MetaTrader suite of platforms as well as its own VT Pro trading app.
| Feature |
VT Markets
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 70 | 67 |
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Both VT Markets and LegacyFX do not offer the ability to buy actual delivered cryptocurrency, but instead provide options for trading cryptocurrency derivatives.
Both VT Markets and LegacyFX provide options for deposits and withdrawals via Skrill, Visa or Mastercard, and bank wires, but neither supports ACH, SEPA transfers, or PayPal 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 | VT Markets | LegacyFX | |
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| Trust Score | 70 | 67 | |
| Winner | check_circle | ||
| Review | VT Markets Review | LegacyFX Review |
| Broker Screenshots | VT Markets | LegacyFX | |
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| Regulation | VT Markets | LegacyFX | |
|---|---|---|---|
| Trust Score | 70 | 67 | |
| Year Founded | 2016 | 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 | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | VT Markets | 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) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | VT Markets | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | VT Markets | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1000 | 425 | |
| Forex Pairs (Total) | 39 | 44 | |
| U.S. Stock Trading (Non CFD) | No | 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 | VT Markets | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | VT Markets | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | VT 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | VT Markets | 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 | VT Markets | 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 | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | VT Markets | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | VT Markets | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | VT 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 | VT Markets Review | LegacyFX Review |
| Overall | VT Markets | LegacyFX | |
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| Trust Score | 70 | 67 | |
| Winner | check_circle | ||
| Review | VT Markets Review | LegacyFX Review |
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