IC Markets
LegacyFX
IC Markets vs LegacyFX
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
IC Markets and LegacyFX are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. IC Markets, founded in 2007 and headquartered in Sydney, Australia, is regulated by ASIC, CySEC, FSA and offers spreads starting from 0.0 pips with a minimum deposit of $200. LegacyFX, established in 2017 in Limassol, Cyprus, holds licenses from CySEC with spreads from 0.8 pips and a $500 minimum deposit. In our hands-on testing across 8 scoring categories, IC Markets scored 8.8/10 overall compared to LegacyFX's 7.1/10, making it the stronger pick for most traders. That said, LegacyFX holds its own with overall value, so your ideal broker depends on what you prioritize in a trading partner.
Trust stack
Trust stack for this head-to-head
This comparison uses the same review dataset, methodology, disclosure, and corrections standards as the rest of TBR money pages. Head-to-head verdicts still need an entity-level regulation check before signup.
Risk layer
Risk & regulation snapshot for IC Markets
Regulation
Third-partyASIC, CySEC, FSA · brand-level entity model
Leverage / exposure
Broker-stated1:500 (high-risk if you size trades badly)
Trust read
VerifiedTier 1 trust profile
Regulation status
Third-partyASIC, CySEC gives the brand real tier-1 coverage, but the footprint is mixed because FSA also appears in the regulator stack.
Entity nuance
Third-partyIC Markets carries a solid regulator mix, but the brand still routes clients through different legal entities by region.
Investor protection
UnknownTop-tier regulation helps on paper, but the canonical dataset still does not lock the exact compensation scheme or client-money safeguards for every onboarding entity.
Verification state
VerifiedVerification state: brand-level regulator mapping is in place, but the exact contracting entity is still inferred rather than fully pinned in the canonical dataset.
High-risk warning
Broker-statedA 1:500 ceiling is aggressive retail leverage. Small mistakes can snowball fast even if the broker itself is regulated.
Safer alternative lens
If this profile feels too aggressive, compare brokers with cleaner tier-1 coverage and lower leverage ceilings before funding an account.
Risk layer
Risk & regulation snapshot for LegacyFX
Regulation
Third-partyCySEC · brand-level entity model
Leverage / exposure
Broker-stated1:30 (tighter leverage ceiling)
Trust read
VerifiedTier 1 trust profile
Regulation status
Third-partyCySEC gives this broker a cleaner top-tier regulation read than the average CFD brand.
Entity nuance
Third-partyLegacyFX shows 1 regulator in the shared broker dataset. Treat that as a brand-level trust signal, not proof of the exact legal entity you will onboard with.
Investor protection
UnknownTop-tier regulation helps on paper, but the canonical dataset still does not lock the exact compensation scheme or client-money safeguards for every onboarding entity.
Verification state
VerifiedVerification state: brand-level regulator mapping is in place, but the exact contracting entity is still inferred rather than fully pinned in the canonical dataset.
High-risk warning
Broker-statedThe leverage ceiling is comparatively tighter, but CFDs and leveraged forex still carry real loss risk.
Evidence labels
How to read the evidence in IC Markets vs LegacyFX
Comparison pages mix our own review work with broker-published facts and outside records. The labels make that visible instead of flattening everything into one fake confidence level.
Overall verdict and score differences
VerifiedThese come from our review methodology and the underlying hands-on review dataset used for scoring.
Spreads, minimum deposits, leverage, and platform lists
Broker-statedThese are usually published broker facts unless a review explicitly documents a direct test.
Regulation and entity background
Third-partyThose checks rely on regulator registers and other external records, not just broker marketing copy.
Cells the source reviews do not support cleanly
UnknownIf the underlying evidence is thin or conflicted, the safe answer is to keep the gap visible.
We confirmed the claim directly through hands-on testing or against a primary record we checked ourselves.
Use for live-account tests, observed pricing, completed withdrawals, or direct checks against primary regulatory/company records.
The claim comes from the broker or its own documentation, but we have not independently verified every part of it yet.
Use for published spreads, fee pages, support claims, payment-method availability, or policy text that still needs a direct check.
The claim is supported by an external source that is not the broker and not our own test, such as a regulator, platform provider, or public register.
Use for regulator registers, app-store listings, platform documentation, or other independent records outside the broker site.
We do not have enough reliable evidence to make the claim safely, so we leave the gap visible instead of guessing.
Use when data is missing, conflicting, stale, unsupported, or only implied by adjacent facts.
Key Differences at a Glance
- 📊
IC Markets scores 8.8/10 overall vs 7.1/10 for LegacyFX — a 1.7-point difference.
- 💵
IC Markets requires just $200 to start, while LegacyFX needs $500 — IC Markets is 3x more accessible.
- 📈
IC Markets offers 2,200+ instruments vs 200+ at LegacyFX — a massive gap in market coverage.
- 🖥️
IC Markets runs on MT4, MT5, cTrader, while LegacyFX uses MT5 — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Trading Costs: IC Markets scores 9.5 vs 7.0 for LegacyFX — a 2.5-point difference.
Our Verdict
IC Markets
Score: 8.8/10 · Wins 7 categories- You want lower spreads and trading fees
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
LegacyFX
Score: 7.1/10 · Wins 0 categories- You prefer LegacyFX's trading environment overall
IC Markets takes the lead with an overall score of 8.8/10 compared to 7.1/10, winning in 7 out of 8 scoring categories. IC Markets stands out for lower trading costs and better trading platforms, while LegacyFX remains a solid alternative.
Broker recommendation block
If you only shortlist two names after this comparison, make it IC Markets first and LegacyFX second
IC Markets is the stronger default pick on the numbers here, but LegacyFX still makes sense if its edge lines up with how you actually trade.
IC Markets
🟢 Tier 1 RegulatedASIC · CySEC · FSA
IC Markets wins this matchup on overall score, especially for lower trading costs and better trading platforms.
Overall score
8.8/10
Minimum deposit
$200
LegacyFX
🟢 Tier 1 RegulatedCySEC
LegacyFX is the fallback option here if you prefer its pricing, platform feel, or account terms after a live test.
Overall score
7.1/10
Minimum deposit
$500
Detailed Verdict
After testing both brokers with real accounts, IC Markets comes out ahead with a 8.8/10 overall rating, winning 7 out of 8 categories. Its strongest area is Trading Costs where it scores 9.5/10. IC Markets holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. LegacyFX is not without merit — it scores 7.1/10 overall and excels in Regulation & Trust (7.5/10). For a complete breakdown, read our full IC Markets review and LegacyFX review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
IC Markets wins by 2.5 points
IC Markets wins by 2.0 points
IC Markets wins by 1.5 points
IC Markets wins by 0.5 points
IC Markets wins by 1.0 points
IC Markets wins by 1.5 points
IC Markets wins by 1.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 8.8/10 ✓ | 7.1/10 |
| Min Deposit Lower is better | $200 ✓ | $500 |
| Max Leverage | 1:500 | 1:30 |
| Spreads From | 0.0 pips | 0.8 pips |
| Platforms | MT4, MT5, cTrader | MT5 |
| Regulation | ASIC, CySEC, FSA | CySEC |
| Founded Older track record highlighted | 2007 ✓ | 2017 |
| Markets | 2,200+ ✓ | 200+ |
Fees & Costs
When it comes to trading costs, IC Markets has the edge with a score of 9.5/10 versus 7/10 for LegacyFX. IC Markets offers spreads starting from 0.0 pips, while LegacyFX starts from 0.8 pips. The minimum deposit at IC Markets is $200, compared to $500 at LegacyFX. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
IC Markets scores 9/10 for platforms compared to 7/10 for LegacyFX. IC Markets provides MT4, MT5, cTrader, while LegacyFX offers MT5. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. IC Markets is regulated by ASIC, CySEC, FSA (Tier 1), while LegacyFX holds licenses from CySEC (Tier 1). IC Markets scores 9/10 and LegacyFX scores 7.5/10 in this category. IC Markets carries a solid regulator mix, but the brand still routes clients through different legal entities by region. LegacyFX shows 1 regulator in the shared broker dataset. Treat that as a brand-level trust signal, not proof of the exact legal entity you will onboard with. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, but you should still verify the specific entity covering your jurisdiction before opening an account.
Education & Research
For learning resources, IC Markets leads with 7/10 compared to 7/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. IC Markets and LegacyFX both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
IC Markets offers 24/7 Live Chat, Email, Phone and scores 8/10, while LegacyFX provides 24/5 Live Chat, Email, Phone with a score of 7.5/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
IC Markets scores 8.5/10 for deposits and withdrawals, while LegacyFX scores 7/10. IC Markets accepts Bank Transfer, Credit Card, PayPal, Skrill, Neteller, UnionPay, and LegacyFX supports Bank Transfer, Credit Card, Debit Card, Skrill, Neteller, Bitcoin. Processing times, fees, and available currencies vary. IC Markets requires a minimum deposit of $200 versus $500 for LegacyFX. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose IC Markets if you...
- You want lower spreads and trading fees
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Routing after IC Markets vs LegacyFX
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Frequently Asked Questions
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