Texas Instruments ADS1299 is an attractive choice for low cost electroencephalography (EEG) devices owing to its low power consumption and low input referred noise. To date, there have been no rigorous evaluations of its performance. In this EEG experimental study we evaluated the performance of the ADS1299 against a high quality laboratory-based system. Two self-paced lower limb motor tasks were performed by 22 healthy participants. Recorded power across delta, theta, alpha, and beta EEG bands, the power ratio across the motor tasks, pre-movement noise, and signal-to-noise ratio were obtained for evaluation. The amplitude and time of the negative peak in the movement-related cortical potentials (MRCPs) extracted from the EEG data were also obtained. Using linear mixed models, no statistically significant differences (p > 0.05) were found in any of these measures across the two systems. These findings were further supported by evaluation of cosine similarity, waveform differences, and topographic maps. There were statistically significant differences in MRCPs across the motor tasks in both systems. We conclude that the performance of the ADS1299 in combination with wet Ag/AgCl electrodes is analogous to that of a laboratory-based system in a low frequency (<40 Hz) EEG recording.