LegacyFX offers the MT5 trading platform, ignoring the well-established MT4 infrastructure, and deploys an unnecessarily complex account structure with a backward philosophy. PAMM accounts are available, but trading costs are high unless traders deposit $25,000+.
AvaTrade features a broad choice of trading platforms. Besides MT4/MT5, supportive of algorithmic trading and upgraded via the Trading Central plugin, it developed its proprietary WebTrader, its mobile app AvaTradeGO, and Ava Option. The proprietary Ava Social caters to copy traders alongside ZuluTrade and DupliTrade. AvaTrade provides equal access to its trading environment for a deposit of $100.
Beginner traders get an industry-leading product via AvaTrade SharpTrader, while LegacyFX offers high-quantity, low-quality educational content.
I have conducted an in-depth review of LegacyFX and AvaTrade to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- LegacyFX versus AvaTrade - Verdict
Ireland Cyprus ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID VFSC 2006 2012 Market Maker Market Maker $100 $500 N/A Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ MetaTrader 5 0.9 pips 1.6 pips 1.5 pips 1.5 pips $0.03 $0.13 $0.29 $0.63 77.82% N/A Not applicable N/A 0.9 pips N/A Commission-free N/A Visit Website Visit Website
Features and Platforms
N/A N/A Visit Website Visit Website
Noteworthy:
LegacyFX offers swap-free trading on all accounts, making it a notably cheaper broker for leveraged traders who maintain open positions for several days or weeks. Both brokers feature a Guardian Angel service, superior at AvaTrade.
Available Markets
N/A N/A N/A N/A Visit Website Visit Website
LegacyFX covers most sectors but has insufficient trading instruments in each. They suffice for beginners to get acquainted with the market, and for focused trading strategies that require fewer assets. AvaTrade maintains a well-balanced asset selection focused on equity trading with cross-asset diversification. It also supports complex strategies using options, making it an overall better choice.
Typical Spreads and Fees
0.9 pips 1.6 pips 1.5 pips 1.5 pips $0.03 $0.13 $0.29 $0.63 $39 $505 Not applicable N/A 0.9 pips N/A Commission-free N/A N/A N/A $50 quarterly after 3 months N/A Visit Website Visit Website
LegacyFX’s trading costs are unacceptably high, commencing from 1.5 pips or $15.00 per lot, making them unsuitable for scalpers and day traders. Deposits above $25,000 qualify for a reduction to 0.6 pips or $6.00, which competitive brokers offer all clients. Ava counters with acceptable trading costs ranking it in the mid-section of the market.
Security and Trust
United Arab Emirates, Australia, Ireland, Israel, Japan, British Virgin Islands, South Africa Cyprus, Vanuatu ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID VFSC C53877, SIBA/L/13/1049, 406684, 45984, 1662, 190018, 514666577 14579, 344/17 N/A 4,1 Visit Website Visit Website
LegacyFX and AvaTrade segregate client deposits from corporate funds and offer negative balance protection with third-party insurance missing. Both offer an equally secure and trustworthy trading environment. Trading conditions at AvaTrade depend on the regulatory jurisdiction.
AvaTrade vs LegacyFX – Verdict
AvaTrade
| Pros | Cons |
| High-quality educational offering via SharpTrader | Higher trading costs typical for commission-free brokers |
| Excellent choice of trading platforms catering to various trading needs | |
| Broad asset selection and cross-asset diversification opportunities | |
| Well-regulated and trusted broker with oversight from a central bank |
LegacyFX
| Pros | Cons |
| Swap-free trading and high leverage | High minimum deposit |
| Autochartist plugin for MT5 and in-house research | Not all account types have access to core features |
| Educational tools for beginner traders | |
| Loyalty Program for affiliates |
LegacyFX is an MT5 broker with high trading costs for scalpers and day traders, but its swap-free fee offer makes it a niche broker for medium-to-long-term traders. The backward account structure and restrictions for smaller deposits place traders at a disadvantage or force deposits. AvaTrade remains a reliable multi-asset broker with a well-balanced asset selection and an acceptable cost structure with custom-tailored products and services for select trading strategies, making it the overall superior choice.
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