OvalX
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73.85% of retail CFD accounts lose money.

Vs.

Saxo Bank
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69% of retail CFD accounts lose money.

OvalX Vs. Saxo Bank - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Oct 20 2022

Visit

73.85% of retail CFD accounts lose money.

Visit

69% of retail CFD accounts lose money.

Overview

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.

Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.

Best For
  • 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 
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
The Good
  • 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
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
The Bad
  • 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)
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
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 4 days
📋 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 document (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
1965 1992
💳 Minimum Deposit Range
From $100 to $10,000 From $500 up to $2,000
💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
💵 Account Base Currencies
3 - EUR, USD, GBP 26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, BE, CN, SG, CH.

US, BR, ES, IN, KE, MX, NG, PK, ZA.

📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
5,174 49,339
Exchange Access
0 0
📙 Real Stocks
0 30,000
📙 Stock CFDs
5,000 0
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
60 182
📗 Commodities
0 0
📗 Commodities CFDs
17 19
📕 Indices
0 0
📕 Indices CFDs
20 29
📔 ETFs
0 5,400
📔 ETFs CFDs
19 5,400
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
5 9
📒 Bonds
0 5,000
📒 Bonds CFDs
8 0
📓 Options
0 3,000
📓 Options CFDs
0 0
📗 Futures
0 300
📗 Futures CFDs
45 0
Trading Experience
📈 Minimum Stock Trade Size
1 Share Unavailable
📉 Minimum ETFs Trade Size
1 ETF Unavailable
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (Eg: 0.01 BTC) Varies by Cryptocurrency (eg: 0.01 units of BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
Varies per commodity (Eg 0.1 for WTI, 1 for Cotton) Unavailable
📉 Minimum Bonds Trade Size
1 Bond Unavailable
📈 Minimum Futures Trade Size
Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds) Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 66
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
No No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
None

Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

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)

$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract.

Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips Dynamic - From 0.4 to 0.8 Pips
📉 SP500
Dynamic - From 60 Pips Unavailable
📈 GOLD
Dynamic - From 60 Pips Unavailable
📉 TSLA (Stock CFD)
Dynamic - From $13 Unavailable
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $226.4 Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
No Yes
📡 Video Tutorials
No No
📡 Account Management
No Yes
📡 Webinars
No No