Written by ForexBrokers.com
In this head to head comparison of Xtrade 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 online brokers Xtrade and LegacyFX, it's essential to consider their regulatory standings and trust scores. Xtrade, established in 2003, holds one Tier-1 and one Tier-2 license, which suggests a level of trust that is endorsed by regulatory standards. Its Trust Score of 74 by ForexBrokers.com places it within the average risk category, indicating a reasonable balance of safety for traders. Despite not being publicly traded or a bank, its long-standing presence since 2003 adds to its credibility in the trading arena.
LegacyFX, founded in 2012, also holds a Tier-1 license, but lacks Tier-2 licenses, distinguishing its regulatory stance from Xtrade. With a Trust Score of 67, LegacyFX falls into the high-risk category according to ForexBrokers.com, suggesting slightly increased caution for potential users. Like Xtrade, LegacyFX is neither publicly traded nor a bank. While both brokers offer regulated services and have garnered trust to an extent, their different trust scores and regulatory licenses may influence traders' decisions based on their risk tolerance and preferences.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Year Founded | 2003 | 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 | 1 | 1 |
When evaluating online brokers, comparing their commissions and fees is vital. Xtrade’s offerings fall short due to the unavailability of average spread data, making it challenging to assess trading costs efficiently. With a rating of 2.5 stars out of five, it ranks last at number 62 out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
LegacyFX provides more varied account options, which vary depending on whether you participate through its EU entity regulated by CySEC or its international entity based in Vanuatu. While there are no average spreads available for LegacyFX, they offer a range of accounts with different minimum deposit requirements, impacting available client support and trading tools. EU residents can choose from Silver, Gold, and Platinum accounts, with the Platinum account offering the lowest spreads. For international clients, seven account types are available, with benefits increasing from the Standard to the VIP level based on deposit size. LegacyFX receives a slightly better rating of 3.5 stars, ranking 56th out of 62 brokers for commissions and fees.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $250 | $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 | 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.
When comparing Xtrade and LegacyFX, both brokers offer forex trading as CFDs or spot contracts, catering to investors interested in currency trading. Xtrade provides a slightly broader array of tradeable symbols, totaling 482, compared to LegacyFX’s 425. In terms of forex pairs, Xtrade has 56 options, while LegacyFX offers 44. Despite these differences, neither broker allows investment in exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone stocks, as they primarily deal with CFD products.
Both Xtrade and LegacyFX allow trading in cryptocurrency derivatives, although they do not support the buying and selling of actual cryptocurrencies. One notable difference is that LegacyFX supports copy trading—a feature absent in Xtrade. Ultimately, both brokers receive a 3.5-star rating for their range of investments, with ForexBrokers.com ranking LegacyFX slightly higher at #48, while Xtrade is placed at #49 out of 62 brokers. This minor distinction reflects LegacyFX’s inclusion of copy trading, enhancing its appeal to some investors.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 482 | 425 |
| Forex Pairs (Total) | 56 | 44 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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.
When comparing Xtrade and LegacyFX in terms of trading platforms and tools, both brokers provide virtual demo accounts for simulated trading, making it easier for beginners to practice risk-free. Xtrade offers a platform that is proprietary and web-based, although it lacks a Windows-based desktop platform. In contrast, LegacyFX users can access a downloadable desktop platform on Windows, alongside its web-based trading options. While Xtrade does not support copy trading, LegacyFX includes this feature, enhancing its offering for those interested in mimicking successful traders. Moreover, LegacyFX stands out with the availability of MetaTrader 5 (MT5), whereas Xtrade does not offer the popular MetaTrader platforms.
Charting tools vary between the two; Xtrade offers an extensive set of 100 drawing tools, compared to LegacyFX's 15. However, both brokers allow trading directly from stock charts, adding an element of convenience for users. When it comes to watch list customization, Xtrade provides more flexibility with nine available columns versus LegacyFX's seven. Both brokers share an equal rating of 3.5 stars for their trading platforms and tools, though Xtrade slightly surpasses LegacyFX in ForexBrokers.com's ranking at #58 compared to #59 out of 62 brokers. These similarities and differences can help traders determine which platform best suits their needs.
| Feature |
Xtrade
|
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) | N/A | 30 |
| Charting - Drawing Tools (Total) | 100 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Xtrade and LegacyFX provide mobile apps for iPhone and Android devices, making trading accessible on the go. Xtrade is rated slightly higher with 4 stars, compared to LegacyFX's 3.5 stars, and ranks 53rd in the Mobile Trading Apps category out of 62 brokers. Although both platforms lack watchlist symbol syncing, LegacyFX shines with additional features like stock and forex price alerts, the ability to draw trendlines, multiple time frame views, and auto-saving of chart drawings. In contrast, Xtrade does not offer these functionalities, which may impact traders looking for comprehensive charting tools.
LegacyFX stands out with the availability of 30 technical studies for charting purposes, allowing a more detailed analysis for traders. Moreover, it provides real-time quotes on watchlists, giving users up-to-date market information. Despite these advantages, Xtrade users benefit from a slightly higher rating and ranking in the ForexBrokers.com evaluation. When choosing between Xtrade and LegacyFX, traders may consider whether advanced charting features and real-time capabilities are a priority, or if they prefer the well-rated and slightly higher-ranked Xtrade app.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
Both Xtrade and LegacyFX provide daily market commentary to aid traders in staying informed about market trends. They also offer forex news from reputable sources like Bloomberg and Reuters, ensuring high-quality information for their users. While neither platform offers sentiment-based trading tools or TipRanks' market research, traders can rely on their comprehensive economic calendars to track important global news events.
However, LegacyFX distinguishes itself from Xtrade by offering technical analysis and fundamental research tools from Autochartist, enhancing their research capabilities. Despite these differences, both platforms receive a research rating of 3.5 stars. Nonetheless, LegacyFX holds a higher rank at #44 compared to Xtrade's #52 among 62 brokers according to ForexBrokers.com. This ranking reflects their respective standings in the research category.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | 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 online brokers Xtrade and LegacyFX based on the educational resources available to beginners, both provide a wealth of materials focusing on forex and CFDs, with a minimum of 10 educational pieces each. However, LegacyFX takes a step further by hosting online educational webinars monthly, a feature absent from Xtrade's offerings. LegacyFX also surpasses Xtrade with a searchable archive of recorded webinars, providing continued access to past learning sessions, which is not offered by Xtrade.
For beginners, LegacyFX stands out with over 10 dedicated educational videos covering trading topics, a resource not available through Xtrade. Also, LegacyFX provides the same extensive library of advanced educational videos for experienced traders that Xtrade lacks. Both brokers offer an investor dictionary with more than 50 definitions of investing terms, ensuring foundational understanding. Despite these differences, both brokers are rated 3.5 stars for education. However, LegacyFX is ranked higher, at #35 compared to Xtrade’s #46, among 62 brokers for educational offerings by ForexBrokers.com.
| Feature |
Xtrade
|
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 | 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 Xtrade is better than LegacyFX. Xtrade finished with an overall rank of #59, while LegacyFX finished with an overall rank of #62.
Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.
| Feature |
Xtrade
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 74 | 67 |
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Both Xtrade and LegacyFX do not provide the option to purchase actual (delivered) cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives, allowing investors to engage in the crypto market without buying the actual digital currencies.
Both Xtrade and LegacyFX provide options for depositing or withdrawing account funds via Skrill, Visa, Mastercard, and bank wires, but neither supports ACH, SEPA transfers, or PayPal.
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 | Xtrade | LegacyFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | LegacyFX Review |
| Broker Screenshots | Xtrade | LegacyFX | |
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| Regulation | Xtrade | LegacyFX | |
|---|---|---|---|
| Trust Score | 74 | 67 | |
| Year Founded | 2003 | 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 | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Xtrade | 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) | Xtrade | 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 | Xtrade | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 482 | 425 | |
| Forex Pairs (Total) | 56 | 44 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | Xtrade | 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 | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Xtrade | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $250 | $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 | Xtrade | 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 | Xtrade | LegacyFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | N/A | 30 | |
| Charting - Drawing Tools (Total) | 100 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | Xtrade | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Xtrade | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | 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 | Xtrade | 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 | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Xtrade | 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 | Xtrade Review | LegacyFX Review |
| Overall | Xtrade | LegacyFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | LegacyFX Review |
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