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Exness vs LegacyFX 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between Exness 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, Exness 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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Compare

0 of 5
Overall RatingExnessLegacyFX
Overall Rating 7.2 / 10 6.9 / 10
Account TypeExnessLegacyFX
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes Yes
Copy TradingExnessLegacyFX
Social Trading / Copy Trading No Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyExnessLegacyFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) No Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)ExnessLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)ExnessLegacyFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsExnessLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading No Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No Yes
ETF No Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsExnessLegacyFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesExnessLegacyFX
Tier-1 Licenses 1 0
Australia (ASIC Authorised) No No
Canada (SRO Authorised) No No
United Kingdom (U.K.) (FCA Authorised) Yes No
Hong Kong (SFC Authorised) No No
Singapore (MAS Authorised) No No
Switzerland (FINMA Authorised) No No
USA (CFTC Authorized) No No
Tier-2 Licenses 1 1
Tier-3 Licenses 0 1
Research, EducationExnessLegacyFX
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary No Yes
Autochartist No Yes
Investor Dictionary (Glossary) No Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsExnessLegacyFX
Minimum Deposit $1 $500
Average Spread EUR/USD - Standard 0.9 info N/A
All-in Cost EUR/USD - Active N/A N/A
Active Trader or VIP Discounts No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsExnessLegacyFX
Watchlists - Total Fields (default Metatrader) 7
Mobile Watchlist No Yes
Charting - Indicators / Studies (Total) (default Metatrader) 30
Mobile Charting - Indicators / Studies (default Metatrader) 30
Trust FactorsExnessLegacyFX
Year Founded 2008 2012
Publicly Traded (Listed) No No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Trust Score 74 66
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Exness vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Exness vs LegacyFX.

Can I trust Exness?

Exness has a trust score of 74, 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 66, giving it a "Average Risk" trust label.

Is Exness a good broker?

Exness is a MetaTrader broker that offers the full MT4 and MT5 platform suites, alongside its proprietary client portal Terminal and Exness Social Tradomg app. Exness offers competitive spreads on its commission-based and Pro accounts, yet trails behind the best brokers when it comes to research and education.

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. Exness is United Kingdom (U.K.) (FCA Authorised), while LegacyFX is none.. Neither have Australia (ASIC Authorised), Canada (SRO 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)

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, both Exness and LegacyFX are Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses Exness is none, while LegacyFX is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Mauritius (FSC Authorised).

Which broker offers more trading platforms?

Both Exness and LegacyFX offer a Desktop Platform (Windows).. Neither have Proprietary Platform, cTrader, DupliTrade and ZuluTrade

Does Exness offer MetaTrader? Does LegacyFX offer MetaTrader?

For MetaTrader Exness 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 Exness and LegacyFX differ in terms of minimum deposit? What about average spreads and funding options?

Exness requires a minimum deposit of $1, while LegacyFX requires a minimum deposit of $500. From our testing we found Exness offers spreads of 0.9 , while LegacyFX offers spreads of N/A. Both Exness 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, Exness or LegacyFX?

Exness offers a more diverse selection of investment options than LegacyFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Exness has 112, compared to 425 from LegacyFX.

Can I trade cryptocurrency with Exness 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 Exness nor LegacyFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Exness or LegacyFX?

In terms of research and research tools Exness gives traders the following tools: Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison LegacyFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

Exness Review

LegacyFX Review

Overall winner: Exness

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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