Vantage vs LegacyFX 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Vantage has a Trust Score of 90, giving it a "Highly Trusted" Trust Score Label.

LegacyFX has a Trust Score of 67, giving it a "High Risk" Trust Score Label.

Vantage is a trusted brand that holds licenses in multiple Tier-1 jurisdictions, boosting its overall Trust Score. Traders at Vantage gain access to a growing range of markets alongside a proprietary trading app (the Vantage app) and an excellent MetaTrader offering. Vantage offers the full MetaTrader platform suite (including MetaTrader 5), and supports full integration with TradingView and Smart Trader add-ons. Multiple social copy trading platforms are also available (unless you live in Australia). That said, the broker's educational content and market research materials can't compete with what's offered by the best forex brokers.

LegacyFX offers a decent range of markets available on the MetaTrader 5 platform. Beginner forex traders will find educational content that is just about average alongside a decent variety of video content for market research. That said, LegacyFX's pricing and range of markets can't compete with the best MetaTrader brokers, and its Trust Score rating suffers from a lack of licenses from reputable regulatory jurisdictions.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. Vantage holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). LegacyFX, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Vantage is South Africa (FSCA Authorised), while LegacyFX is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses Vantage is Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised), while LegacyFX is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised) and Mauritius (FSC Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that Vantage offers a Proprietary Platform, Desktop Platform (Windows), DupliTrade and ZuluTrade, whereas LegacyFX supports a Desktop Platform (Windows). Neither have cTrader

For MetaTrader Vantage 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.

Vantage requires a minimum deposit of $50, while LegacyFX requires a minimum deposit of $500. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that Vantage supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas LegacyFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that Vantage delivers a more diverse selection of investment options than LegacyFX, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; Vantage offers 1000, and LegacyFX offers a total of 425 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither Vantage nor LegacyFX allow you to trade physical cryptocurrencies.

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. Vantage delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. LegacyFX, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading

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