FXCM
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77% of retail CFD accounts lose money.

Vs.

OvalX
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73.85% of retail CFD accounts lose money.

FXCM Vs. OvalX - Compare and Choose the Right One

Updated Jul 27 2022

Visit

77% of retail CFD accounts lose money.

Visit

73.85% of retail CFD accounts lose money.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

TheTradingBible.com is acting in a capacity of a marketing affiliate of FXCM EU LTD.

OvalX (formerly ETX Capital) offers 60 currency pairs and a wide selection of equities for the beginning and experienced investors with no deposit and withdrawal fees.

Best For
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Forex traders for variety of currencies and high net worth equities
  • Traders seeking commission free equities inside their 250 commission-less selection
  • Traders who want to trade commodity futures and bonds 
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • Commission-free trades for 250 equities
  • Low minimum deposit to open standard account (100£)
  • Wide selection of commodity futures and bonds
  • Decent educational material for market research, including seminars on indices, commodities and currencies
The Bad
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads when compared to similar competitors
  • Doesn’t provide live news feed on standard account
  • No ability to purchase real stocks or ETFs (All assets are CFDs)
  • Expensive commissions on shares (Eg minimum $15 on US shares, 10 € on EU shares)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity documents (Passport, ID card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder’s name.

📍 Year Founded
1999 (FXCM Group) 1965
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) $, €, £ - 100 (Standard) and 10,000 (Premium)
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
💵 Account Base Currencies
4 - EUR GBP, USD, CHF. 3 - EUR, USD, GBP
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
RU, US, CA, JP, SK and more. US, BE, CN, SG, CH
📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

  • CFDs on currencies, bonds, indices, shares, ETFs, commodities and cryptocurrencies.
  • 📙 Stocks
    200+ 5,000 CFDs (250 are commission free)
    📘 Currency Pairs
    39 60
    📗 Commodities
    11 17
    📕 Indices
    15 20
    📔 ETFs
    N/A 19
    💸 Cryptocurrencies

    6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

    5
    📒 Bonds
    N/A 8
    📓 Options
    N/A N/A
    📗 Futures
    N/A 45
    📝 Notes:
    All of FXCM's assets are CFDs.

    OvalX offers CFDs, spread betting and futures.

    Trading Experience
    📈 Minimum Stock Trade Size
    1 share 1 Share
    📉 Minimum ETFs Trade Size
    N/A 1 ETF
    📈 Minimum Crypto Trade Size
    1 unit of any cryptocurrency Varies by Cryptocurrency (Eg: 0.01 BTC)
    📉 Minimum FX Trade Size
    $1000 (0.01 Lots) $1,000 (0.01 lots)
    📈 Minimum Commodities Trade Size
    Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies per commodity (Eg 0.1 for WTI, 1 for Cotton)
    📉 Minimum Bonds Trade Size
    N/A 1 unit
    📈 Minimum Futures Trade Size
    N/A Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds)
    📉 Minimum Options Trade Size
    N/A N/A
    💪 Retail Leverage
    Up to 1:30 Up to 1:30
    💪 Professional Leverage
    Up to 1:500 (Varies) Up to 1:500
    ✍ Customisable Leverage
    No No
    🎲 Deleveraged Trading
    No No
    🎓 Demo Account
    Yes Yes
    📱 IOS App
    Yes Yes
    📱 Android App
    Yes Yes
    📺 MetaTrader 4
    Yes Yes
    📺 MetaTrader 5
    No No
    💻 Web trader
    Yes Yes
    💻 TradingView Platform
    Yes No
    💻 Proprietary Platform
    Yes Yes
    📊 Multi-chart Tools
    Yes Yes
    👬 Copy Trading
    Yes Yes
    👫 Social Trading
    Yes Yes
    🔑 Guaranteed Stop-loss
    No No
    🔨 Trailing Stop-loss
    Yes Yes
    Fees
    💰 Inactivity Fee

    50 units of the account's base currency yearly after 1 year of inactivity.

    No
    💰 Deposit Fees
    No No
    💰 Withdrawal Fees

    Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

    No
    💰 Commissions
    No

    Yes, depending on asset class. (Eg: U.S shares have a 2 cents per share charge with a minimum of $15 per order, European shares have a 0.1% of transaction value charge with a minimum 10 € charge)

    Spreads
    📈 EUR/USD
    From 1.2 Pips (As per our research) Dynamic - From 0.6 Pips
    📉 SP500
    Dynamic - From 58 Pips (As per our research) Dynamic - From 60 Pips
    📈 GOLD
    Dynamic - From 41 Pips (As per our research) Dynamic - From 60 Pips
    📉 TSLA (Stock CFD)
    Dynamic - From $1.04 (As per our research) Dynamic - From $13
    📈 XLK (ETF - CFD)
    N/A N/A
    📉 BTC
    Dynamic - From $51 (As per our research) Dynamic - Eg. $226.4
    Research and Analysis
    ⭐ Watchlists
    Yes Yes
    🔭 Stock Screener
    No No
    🗓 Economic Calendar
    Yes No
    📜 Integrated Newsfeed
    Yes No
    📡 Reuters Feed
    No No

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