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ACY Securities vs LegacyFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between ACY Securities and LegacyFX? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, ACY Securities ranks more highly than LegacyFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall RatingACY SecuritiesLegacyFXXTB
Overall Rating7.2 / 106.8 / 108.7 / 10
Account TypeACY SecuritiesLegacyFXXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingACY SecuritiesLegacyFXXTB
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyACY SecuritiesLegacyFXXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)ACY SecuritiesLegacyFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)ACY SecuritiesLegacyFXXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsACY SecuritiesLegacyFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoYesYes
ETFYesNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsACY SecuritiesLegacyFXXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesNoYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesACY SecuritiesLegacyFXXTB
Tier-1 Licenses111
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)NoYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses013
Tier-3 Licenses101
Research, EducationACY SecuritiesLegacyFXXTB
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)NoNoYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)NoYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsACY SecuritiesLegacyFXXTB
Minimum Initial Deposit$50$500$0
Average Spread EUR/USD - Standard1.2 (Sept 2021)01.07 (Q3 2022)
All-in Cost EUR/USD - Active0.85 (Sept 2021)01.04 (Q3 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsACY SecuritiesLegacyFXXTB
Watchlists - Total Fields778
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)303039
Mobile Charting - Indicators / Studies303039
Trust FactorsACY SecuritiesLegacyFXXTB
Year Founded201120122002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionNoYesYes
Trust Score757595
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ACY Securities vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare ACY Securities vs LegacyFX.

Can I trust ACY Securities?

ACY Securities has a trust score of 75, giving it a "Average Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust LegacyFX?

LegacyFX has a trust score of 75, giving it a "Average Risk" trust label.

Is ACY Securities a good broker?

ACY Securities is a MetaTrader broker that offers multiple assets and account types, alongside basic research and educational materials from its brands regulated in Australia and Vanuatu.

Is LegacyFX a good broker?

While primarily a MetaTrader broker, LegacyFX offers a decent range of markets and provides average educational content and research. That said, LegacyFX's pricing and range of markets can't compete with the best MetaTrader brokers.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. ACY Securities is ASIC Authorised (Australia), while LegacyFX is FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, ACY Securities is none, while LegacyFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses ACY Securities is VFSC Authorised (Vanuatu), while LegacyFX is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).

Which broker offers more trading platforms?

Both ACY Securities and LegacyFX offer a Desktop Platform (Windows)., neither have Proprietary Platform, cTrader, DupliTrade and ZuluTrade

Does ACY Securities offer MetaTrader? Does LegacyFX offer MetaTrader?

For MetaTrader ACY Securities provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX provides MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do ACY Securities and LegacyFX differ in terms of minimum deposit? What about average spreads and funding options?

ACY Securities requires a minimum deposit of $50, while LegacyFX requires a minimum deposit of $500. From our testing we found ACY Securities offers spreads of 1.2 (Sept 2021), while LegacyFX offers spreads of 0. Both ACY Securities and LegacyFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, ACY Securities or LegacyFX?

ACY Securities offers a more diverse selection of investment options than LegacyFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, ACY Securities has 1600, compared to 425 from LegacyFX.

Can I trade cryptocurrency with ACY Securities or LegacyFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither ACY Securities nor LegacyFX allow you to trade physical cryptocurrencies.

Who offers more research tools, ACY Securities or LegacyFX?

In terms of research and research tools ACY Securities gives traders the following tools: Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. In comparison LegacyFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading., neither have Forex News (Top-Tier Sources) and Trading Central (Recognia)

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