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LegacyFX vs Xtrade 2024

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Written by ForexBrokers.com

August 29, 2023

Is LegacyFX better than Xtrade? In our analysis of 23 international regulators across 62 of the best forex brokers, LegacyFX is considered High Risk, with an overall Trust Score of 67 out of 99. Xtrade is considered trusted, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating LegacyFX Xtrade
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 2.5/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 3.5/5 Stars 3/5 Stars
Mobile Trading 3.5/5 Stars 3/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 67 80
Winner check_circle
Review LegacyFX Review
Broker Screenshots LegacyFX Xtrade
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation LegacyFX Xtrade
Trust Score info 67 80
Year Founded info 2012 2003
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-1 Licenses info 1 2
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1
Tier-1 Licenses (Highly Trusted) LegacyFX Xtrade
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-2 Licenses (Trusted) LegacyFX Xtrade
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments LegacyFX Xtrade
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 425 142
Forex Pairs (Total) info 44 56
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 LegacyFX Xtrade
Average Spread EUR/USD - Standard info N/A N/A info
All-in Cost EUR/USD - Active info N/A N/A info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No No
Execution: Agency Broker info No No
Execution: Market Maker info Yes Yes
Funding LegacyFX Xtrade
Minimum Deposit info $500 $250
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms LegacyFX Xtrade
Proprietary Platform info No Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes No
MetaTrader 4 (MT4) info No No
MetaTrader 5 (MT5) info Yes No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools LegacyFX Xtrade
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes No
Watchlists - Total Fields info 7 9
Charting - Indicators / Studies (Total) info 30 N/A
Charting - Drawing Tools (Total) info 15 18
Charting - Trade From Chart info Yes No
Charts can be saved info Yes No
Mobile Trading LegacyFX Xtrade
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes No
Mobile Watchlist info Yes No
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 N/A
Mobile Charting - Draw Trendlines info Yes No
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info Yes No
Mobile Economic Calendar info Yes No
Research LegacyFX Xtrade
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education LegacyFX Xtrade
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs LegacyFX Xtrade
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review LegacyFX Review
Overall LegacyFX Xtrade
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 2.5/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 3.5/5 Stars 3/5 Stars
Mobile Trading 3.5/5 Stars 3/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 67 80
Winner check_circle
Review LegacyFX Review
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LegacyFX vs Xtrade Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare LegacyFX vs Xtrade.

Can I trust LegacyFX?

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.

Can I trust Xtrade?

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by two Tier-1 regulators (highly trusted), one Tier-2 regulator (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). Xtrade is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), and regulated in the European Union via the MiFID passporting system.

Is LegacyFX good?

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.

Is Xtrade good?

Xtrade is regulated in multiple jurisdictions and offers forex and CFD traders its own trading platform, yet with barely 200 symbols that you can trade it trails behind the best forex brokers.

What is the minimum deposit requirement for opening an account with LegacyFX?

To open a trading account with LegacyFX, you'll need to make an initial minimum deposit of $500.

What is the minimum deposit requirement for opening an account with Xtrade?

Xtrade requires a minimum deposit of $250 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both LegacyFX and Xtrade offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Does LegacyFX or Xtrade offer lower pricing?

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 LegacyFX 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.

Is LegacyFX or Xtrade safer for forex and CFDs trading?

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 Xtrade holds 2 global Tier-1 licenses, while LegacyFX holds 1. Xtrade 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 Xtrade (80) earned a higher Trust Score than LegacyFX (67).

Which trading platform is better: LegacyFX or Xtrade?

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

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

Here’s what trading platforms are available at Xtrade:

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

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. While LegacyFX offers copy trading, Xtrade does not.

What can I trade with each broker?

Xtrade provides traders 56 currency pairs (e.g., EUR/USD) compared to LegacyFX's 44 available pairs. If you are interested in trading CFDs, LegacyFX offers traders access to 425 CFDs, while Xtrade offers access to 142 CFDs; so LegacyFX offers 283 more CFDs than Xtrade.

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

Overall winner: LegacyFX

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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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