LegacyFX versus AvaTrade

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

Features & PlatformsAvaTrade (visit site)LegacyFX (visit site)
Established :
Retail Loss Rate:
Minimum Deposit:
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
$50 after three months, recurring$10 monthly after 90 days
Deposit Fee:
Withdrawal Fee
Funding Methods:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Excellent educational serviceSwap-free trading
Unique Feature Two:
Well-balanced asset selectionAutochartist
Broker Offers:


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

Available MarketsAvaTradeLegacyFX
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Maximum Pro Leverage:

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

Typical Spreads & FeesAvaTradeLegacyFX
Minimum Raw Spreads:
Not applicableNot applicable
Minimum Standard Spreads:
0.9 pips1.5 pips
Minimum Commission for Forex:
Commission for CFDs/DMA:
Commission Rebates:
Not applicableNo
Execution Type:
Market MakerMarket Maker

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


Country of the RegulatorName of the RegulatorLicense Number
Central Bank of IrelandReference Number C53877
The British Virgin Islands
Financial Services CommissionLicense Number SIBA/L/13/1049
Australian Securities and Investments CommissionLicense Number 406684
South Africa
South African Financial Sector Conduct AuthorityLicense Number 45984
Financial Services Agency /Financial Futures AssociationLicense Number 1662 / License Number 1574
United Arab Emirates (Abu Dhabi)
ADGM - Financial Regulatory Services AuthorityLicense Number 190018
Israel Securities AuthorityLicense Number 514666577


Country of the RegulatorName of the RegulatorLicense Number
Vanuatu Financial Services Commission14579

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


High-quality educational offering via SharpTraderHigher 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


Swap-free trading and high leverageHigh minimum deposit
Autochartist plugin for MT5 and in-house researchNot 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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