SquaredFinancial
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69.9% of retail CFD accounts lose money.

Vs.

OvalX
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73.85% of retail CFD accounts lose money.

SquaredFinancial Vs. OvalX - Compare and Choose the Right One

Updated Jul 12 2022

Visit

69.9% of retail CFD accounts lose money.

Visit

73.85% of retail CFD accounts lose money.

Overview

SquaredFinancial is a global brokerage firm founded in 2005 and headquartered in Cyprus that specialises in providing real stocks along with CFDs on all major asset classes paired with MT4 & MT5 platforms.

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 high volume traders looking to exploit their competitive commissions in shares
  • High volume FX traders looking to open a SquaredElite account with spreads from 0 Pips
  • 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

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
  • CySec (Cyprus)
  • FSAS (Seychelles)
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
The Good
  • Extensive asset offering (more than 10,000+ products)
  • Real stocks are offered along with CFDs
  • Very competitive share trading commissions when compared to similar brokers
  • 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
  • Platform offering is limited to only MT4 and MT5
  • High minimum deposit for SquaredElite account (5,000 €)
  • 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
2005 1965
💳 Minimum Deposit

250 € (SquaredPro Account), 5,000 € SquaredElite Account

$, €, £ - 100 (Standard) and 10,000 (Premium)
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
  • Instatransfer
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
💵 Account Base Currencies
5 - EUR, USD, GBP, CHF, ZAR. 3 - EUR, USD, GBP
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, IR, SY. US, BE, CN, SG, CH
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets
  • Real stocks and ETFs
  • CFDs on stocks, ETFs, commodities, currencies, indices, futures, cryptocurrencies.
  • CFDs on currencies, bonds, indices, shares, ETFs, commodities and cryptocurrencies.
  • 📙 Stocks
    8,000 Real Stocks / 8,000 Stock CFDs 5,000 CFDs (250 are commission free)
    📘 Currency Pairs
    40+ 60
    📗 Commodities
    5 17
    📕 Indices
    15 20
    📔 ETFs
    1,000 ETFs CFDs 19
    💸 Cryptocurrencies
    25+ 5
    📒 Bonds
    N/A 8
    📓 Options
    N/A N/A
    📗 Futures
    16 45
    📝 Notes:

    SquaredFinancial provides real stocks along with CFDs on the most common asset classes.

    OvalX offers CFDs, spread betting and futures.

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

    Yes, depending on account type or assets. For account types:


    • SquaredPro account has no default commissions
    • SquaredElite account has a commission of $5 per lot

    For particular assets there are commissions on all accounts, specifically in shares as follows:


    • USA shares have a $0.06 per share commission (with a minimum of $2)
    • European shares have a 0.15% commission of the transaction value (with a minimum of 5 €)

    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 to 1.2 Pips Dynamic - From 0.6 Pips
    📉 SP500
    Dynamic - From 150 Pips Dynamic - From 60 Pips
    📈 GOLD
    Dynamic - From 110 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 $250 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