LegacyFX vs FP Markets

LegacyFX or FP Markets – which is better for UK traders 2024? Compare LegacyFX and FP Markets in this detailed breakdown of their platforms, features and fees.

LegacyFX vs FP Markets Comparison Table 2024
LegacyFX FP Markets
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2.5
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4
LegacyFX is ranked #92 among CFD brokers. FP Markets is ranked #72 among CFD brokers.
Review
Review
LegacyFX is a multi-asset broker offering an MT5 download & free signals. Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.
Pros
  • FP Markets offers a superb selection of tradable assets, especially since expanding its suite of commodities and supporting over 10,000 stocks.
  • With MetaTrader, cTrader, Iress and more recently TradingView, FP Markets is one of the most accommodating brokers in terms of platform choice.
  • FP Markets delivers fast and dependable support, available 24/5 with average response times of less than 1 minute during testing.
  • FP Markets has a seamless onboarding experience, standing out with crypto deposits and over 10 base currencies, catering to global traders.
  • FP Markets has integrated top-notch research tools from Trading Central and Autochartist, helping traders identify short-term opportunities based on chart patterns, indicators, and other technical factors.
Cons
  • While pricing in the Raw account is excellent, spreads in the Standard account trail the cheapest brokers with a 1.1-pip average spread on the EUR/USD compared to the 0.8-pip average at IC Markets.
  • FP Markets’ Iress platform is only available to clients in Australia. It also primarily emphasizes stock trading over forex trading, and data fees can accumulate rapidly unless you're an active trader or maintain a high-balance account.
  • FP Markets trails the best MetaTrader brokers, despite offering a Trader's Toolbox on MT4, just 130 instruments are available, limiting opportunities for serious traders, especially compared to Pepperstone with its 1,300 assets.
  • Although Traders Hub provides rich research, notably the Daily Report, Technical Report, Market Insights, and Fundamental Analysis, it needs to widen its daily content variety and keep its forex news updated to match category leaders like IG.
Awards
  • Best Trading Signals Provider 2021
  • Broker of the Year 2021
  • Best STP Forex Broker 2020
  • Best Forex Broker in the Middle East 2019
  • Best Global Forex Value Broker 2023 - Global Forex Awards
  • Best Forex Partners Programme Asia 2023 - Global Forex Awards
  • Best Forex Broker Europe 2023 - Global Forex Awards
  • Best Global Forex Value Broker 2022 - Global Forex Awards
  • Best Global Forex Value Broker 2021 - Global Forex Awards
FCA Regulated
Yes No

List of FCA Regulated Brokers

Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, stocks CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
Demo Account
Yes Yes
Minimum Deposit
$500 $40
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC, FCA, VFSC, NBRB ASIC, CySEC, FSA, CMA
Mobile Apps
iOS & Android iOS & Android
Trading App

FP Markets does not provide a proprietary web-based or mobile app, a downside for beginners. However, there are the mobile versions of MT4/MT5, cTrader, and TradingView that offer real-time quotes, advanced charting tools, account management features, and order execution. Australian clients are also exclusively offered access to the Iress mobile platform, which delivers sophisticated features including analytics, module linking, and multiple portfolio management.
iOS App Rating
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4
Android App Rating
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4
Margin Trading
Yes Yes
MetaTrader 4
No Yes
MetaTrader 5
Yes Yes
cTrader
No Yes
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes Yes
Autochartist
Yes Yes
eSignal
No No
Trading Central
Yes Yes
STP Account
Yes Yes
ECN Account
No Yes
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
Yes Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
FP Markets introduced a proprietary social copy trading platform, alongside access to the MetaTrader signals market. These offerings, coupled with support for Myfxbook, establish FP Markets as an excellent option for social copy trading, even if the system is less intuitive compared to cTrader Copy.
Social Trading
No Yes
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • ZAR
  • CHF
  • SGD
  • RUB
  • PLN
  • HUF
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • TRY
  • CHF
  • HKD
  • SGD
Commodities
  • Silver
  • Gold
  • Oil
  • Copper
  • Cocoa
  • Cotton
  • Corn
  • Coffee
  • Sugar
  • Wheat
  • Aluminium
  • Palladium
  • Zinc
  • Gasoline
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Platinum
  • Palladium
  • Copper
  • Aluminium
  • Soybeans
  • Corn
  • Wheat
  • Steel
  • Iron
  • Cocoa
  • Cotton
  • Sugar
  • Coffee
CFD
Trade leveraged CFDs in a range of financial markets. FP Markets offers CFD trading on a first-rate selection of financial markets, spanning stocks, major global indices, commodities, metals, cryptocurrencies, and bonds. With tight spreads, fast execution speeds, leverage up to 1:500 and top-tier liquidity, short-term traders get an efficient and seamless trading experience.
Leverage
1:200 1:30 (UK), 1:500 (Global)
FTSE Spread
From 1.0 1.64
GBPUSD Spread<
From 0.5 1.9 average
Oil Spread
From 0.05 0.04
Stocks Spread
From 0.02 Variable
Forex
Trade FX pairs with tight spreads & leverage. FP Markets stands out as an excellent option for forex traders, boasting a selection of over 70 currency pairs covering a wide range of currencies, especially since expanding its choice of exotics. With average spreads of just 0.1 on the EUR/USD in its Raw account, the broker provides competitive pricing for traders.
Assets
40+ 70+
GBPUSD Spread
From 0.5 0.2
EURUSD Spread
From 0.6 0.1
EURGBP Spread
From 0.5 0.3
Currency Indices
  • USD
Cryptocurrency
Go long or short on popular cryptos against the USD and EUR FP Markets supports CFDs on popular cryptos including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. Yet while you can speculate on price movements through CFDs, direct ownership of coins is not supported. FP Markets also doesn’t add up-and-coming tokens for crypto enthusiasts on the pulse.
Spread
Variable 17.3 (Bitcoin)
Coins
  • BTC
  • LTC
  • ETH
  • XRP
  • SOL
  • BNB
  • ADA
  • BCH
  • BTC
  • DOG
  • DOT
  • EOS
  • ETH
  • LNK
  • LTC
  • RPL
  • SOL
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
LegacyFX FP Markets
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