Vantage vs LegacyFX 2024

Vantage is not publicly traded and does not operate a bank. Vantage is authorised by two Tier-1 regulators (highly trusted), one Tier-2 regulator (trusted), zero two Tier-3 regulators (average risk), and two Tier-4 regulators (high risk). Vantage is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). LegacyFX is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

Vantage rounds out its MetaTrader platform suite offering with support for multiple social trading platforms, content powered by Trading Central and a proprietary mobile app. However, Vantage trails industry leaders in key areas such as research and education.

LegacyFX is a plain-vanilla MetaTrader 5 (MT5) broker that offers a medium range of CFD markets and forex pairs. It has built a good foundation of research offerings, and its investor education content is on par with the industry average. Overall, LegacyFX still has room to grow, and trails behind the best MetaTrader brokers.

To open a trading account with Vantage, you'll need to make an initial minimum deposit of $50.

LegacyFX requires a minimum deposit of $500 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Vantage offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas LegacyFX provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Vantage offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Vantage holds 2 global Tier-1 licenses, while LegacyFX holds 1. Vantage holds 1 global Tier-2 licenses, while LegacyFX holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Vantage (90) earned a higher Trust Score than LegacyFX (67).

To compare the trading platforms of both Vantage and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Vantage offers a better experience. With research, Vantage offers superior market research. Finally, we found Vantage to provide better mobile trading apps.

Here’s what trading platforms are available at Vantage:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - Yes
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - Yes

Here’s what trading platforms are available at LegacyFX:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Vantage offers MetaTrader 4 (MT4), while LegacyFX does not. Forex traders also appreciate the ability to engage in social copy trading. Vantage and LegacyFX both offer copy trading.

Vantage provides traders 57 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. If you are interested in trading CFDs, Vantage offers traders access to 1000 CFDs, while LegacyFX offers access to 425 CFDs; so Vantage offers 575 more CFDs than LegacyFX.

We found in our testing that LegacyFX offers a more diverse selection of investment options than Vantage, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Int'l Stock Trading (Non CFD) and Cryptocurrency (Physical).