RoboForex
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74-89% of retail CFD accounts lose money.

Vs.

OvalX
Visit

73.85% of retail CFD accounts lose money.

RoboForex Vs. OvalX - Compare and Choose the Right One

Updated May 13 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

73.85% of retail CFD accounts lose money.

Overview

RoboForex is an international broker established in 2009 which also owns the brand RoboMarkets and specialises on CFD trading over several asset classes.

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
  • Intermediate and Professional traders looking for different account offerings
  • Experienced traders looking for trading platform variety
  • 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

0

Other Licenses

1

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
  • IFSC (International Financial Services Commission of Belize)
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
The Good
  • Comprehensive asset offering with more than 13,000+ instruments
  • Great platform variety (MT4, MT5, cTrader and their own proprietary platforms)
  • Custom account types with spreads from 0 pips
  • 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
  • Weak regulatory framework (counting on 1 license from the IFSC)
  • Doesn’t accept clients from the UK, EU and a few other countries
  • 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
2009 1965
💳 Minimum Deposit
$10 $, €, £ - 100 (Standard) and 10,000 (Premium)
💰 Payment Methods
  • Visa
  • Mastercard
  • JCB
  • AstroPay
  • Skrill
  • Neteller
  • Perfect Money
  • AdvCash
  • NganLuong Wallet
  • Bank transfers (SEPA, local and several options per country)
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
💵 Account Base Currencies
4 - USD, EUR, CNY, GOLD. 3 - EUR, USD, GBP
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, JP, AU, BQ, CW, TL, RU, GQ, FM, MP, SJ, SS, UK, European Union.

US, BE, CN, SG, CH
📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on currencies, commodities, stocks, indices, ETFs and cryptocurrencies

  • CFDs on currencies, bonds, indices, shares, ETFs, commodities and cryptocurrencies.
  • 📙 Stocks
    12,000+ 5,000 CFDs (250 are commission free)
    📘 Currency Pairs
    40+ 60
    📗 Commodities
    100+ 17
    📕 Indices
    50+ 20
    📔 ETFs
    1,000+ 19
    💸 Cryptocurrencies
    16 5
    📒 Bonds
    N/A 8
    📓 Options
    N/A N/A
    📗 Futures
    N/A 45
    📝 Notes:
    All of RoboForex’s assets are CFDs.

    OvalX offers CFDs, spread betting and futures.

    Trading Experience
    📈 Minimum Stock Trade Size

    Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

    1 Share
    📉 Minimum ETFs Trade Size

    Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

    1 ETF
    📈 Minimum Crypto Trade Size

    Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

    Varies by Cryptocurrency (Eg: 0.01 BTC)
    📉 Minimum FX Trade Size

    Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

    $1,000 (0.01 lots)
    📈 Minimum Commodities Trade Size

    Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

    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 1:2000 Up to 1:30
    💪 Professional Leverage
    N/A Up to 1:500
    ✍ Customisable Leverage
    Yes No
    🎲 Deleveraged Trading
    No No
    🎓 Demo Account
    Yes Yes
    📱 IOS App
    Yes Yes
    📱 Android App
    Yes Yes
    📺 MetaTrader 4
    Yes Yes
    📺 MetaTrader 5
    Yes No
    💻 Web trader
    Yes Yes
    💻 TradingView Platform
    No No
    💻 Proprietary Platform
    Yes Yes
    📊 Multi-chart Tools
    Yes Yes
    👬 Copy Trading
    Yes Yes
    👫 Social Trading
    No Yes
    🔑 Guaranteed Stop-loss
    No No
    🔨 Trailing Stop-loss
    Yes Yes
    Fees
    💰 Inactivity Fee
    No No
    💰 Deposit Fees
    No No
    💰 Withdrawal Fees

    Yes for some methods (eg: Some bank withdrawals can cost up to 1.5% of the amount)

    No
    💰 Commissions

    Yes depending on account type (eg: for ECN accounts there are commissions up to $20).

    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

    Dynamic - From 0 Pips depending on account type, 1.4 Pips on Average

    Dynamic - From 0.6 Pips
    📉 SP500
    Dynamic - Market Spread Dynamic - From 60 Pips
    📈 GOLD
    Dynamic - From 17 Pips Dynamic - From 60 Pips
    📉 TSLA (Stock CFD)
    Dynamic - Market Spread Dynamic - From $13
    📈 XLK (ETF - CFD)
    Dynamic - Market Spread N/A
    📉 BTC
    Dynamic - From $220 Dynamic - Eg. $226.4
    Research and Analysis
    ⭐ Watchlists
    Yes Yes
    🔭 Stock Screener
    No No
    🗓 Economic Calendar
    Yes No
    📜 Integrated Newsfeed
    No No
    📡 Reuters Feed
    No No

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