Ovalx Rated 3/5

Ovalx Guide - Read our In Depth 2023 Ovalx Review

This Ovalx review was written by industry experts with over 20 years of financial experience in Forex, CFDs, Spread Betting.
*This content does not apply to US users.

Benefits of Trading with Ovalx

Ovalx Review 2023 Quick Summary
💰 Min Deposit 100
👱‍♂️ Used By 10,000 Ovalx users and traders
📆 Founded 2002
🌍 HQ UK
👮‍♂️ Regulation Financial Conduct Authority (FCA)
🚫 Excluded Countries Ovalx is not available in the following countries : US, BE, CA, SG, BE

Open Ovalx's Website

Losses can exceed deposits


learn more Learn more about IC Markets.
Losses can exceed deposits

What is Ovalx?

Ovalx are a global online financial trading platform and multi asset broker founded in 2002

Over 21 years later Ovalx has grown to offering retail investors Forex trading, CFDs trading, and Spread Betting trading.

Ovalx are a global broker. Ovalx have a head office in UK.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this Ovalx review and assess how well the Ovalx platform functions in its role as an international multiple financial asset trading platform for traders in 2023.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like Ovalx can be difficult. Some Ovalx trading features can be complex when trading on mobile or using the Ovalx online trading platform. Beginners and inexperienced traders may face hard to understand investment terminology and confusing fee structures and must take the time to learn how to use the Ovalx trading tools properly. In our review of Ovalx we breakdown the pros and cons. What Ovalx are able to offer, what countries Ovalx are available in. Who Ovalx are regulated by and more.

Ovalx Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. In order for you to have a good working profitable relationship, ensure that your needs fit the profile of your broker as well.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate, analyse, and trust your hard-earned cash with only the most trustworthy and best of brokers. We hope you find this Ovalx review useful.

This review of the Ovalx platform is very detailed. If you are interested in trading with Ovalx in any capacity please take the time to read and research the whole Ovalx review.

We have tried to explain the ins and outs of financial trading through the Ovalx platform as plainly as possible so that you the trader are as informed as possible before you start to use the Ovalx trading tools and depositing and withdrawing funds from Ovalx.

Ovalx are reputable enough to have a wikipedia page link. Wikipedia content is highly moderated for accuracy. It is very hard to get a Wikipedia page.
Open Ovalx's Wikipedia page

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with Ovalx like Forex trading, CFDs trading, and Spread Betting trading. You should have confidence in Ovalx and know that the management of your financial investments on the Ovalx platform are in good hands.

At the bottom of this Ovalx review you can also learn about some pretty good alternatives to Ovalx

With this Ovalx review we hope to help you see if Ovalx is a good fit for you.

It is a common myth that online trading is easy. Online trading is difficult and traders must do their own research and have a clear understanding of what they are doing. In this article, you will learn important information regarding Ovalx that will help you get off to a good start in the world of online trading.

Ovalx Review Table of Contents

Ovalx review
Ovalx is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about Ovalx. Ovalx is a multi asset platform with 100+ tradable Assets. Assets available on Ovalx include Forex, CFDs, Spread Betting.

Ovalx trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex, CFDs, Spread Betting are considered financial assets.

Features of Ovalx

Ovalx review
What you should know

Ovalx offer three ways to trade: Forex, CFDs, Spread Betting. The assets and products available to you on the Ovalx trading platform depend on the region of the world you are in and what entity you have an account with.

With Ovalx you will need a minimum deposit of $100. You can sign up for a demo account to acquaint yourself with Ovalx platform.

Ovalx are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Ovalx safe?

When choosing a broker like Ovalx the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2002, and in operation for 21 years Ovalx have a head office in UK.

Ovalx is regulated. This means Ovalx are supervised by and is checked for conduct by the Financial Conduct Authority (FCA) regulatory bodies.

Regulated brokers are highly unlikely to manipulate market prices due to the regulations imposed. When you send in a withdrawal request to Ovalx, this will be honored. If Ovalx violate any regulatory rules their regulated status could be stripped.

Losses can exceed deposits

Is my money safe with Ovalx?

Any payments funded to Ovalx accounts by traders are held in a segregated bank account.

For added security Ovalx use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should Ovalx use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and are typically able to withstand unexpected losses.

What does it mean to have your funds in Ovalx deposited in a Tier 1 bank?

Having any money you deposit with Ovalx means that your funds are kept in a bank that has enough capital to accommodate your withdrawal wishes even if Ovalx goes out of business for some reason.

Therefore, we can safely conclude that Ovalx is reasonably secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex, CFDs, Spread Betting is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. Ovalx also clearly state on their platform that Losses can exceed deposits.

Now that we have answered some important questions regarding Ovalx. let us look at the Ovalx features in more detail.

Try creating two accounts when you are working with Ovalx. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Ovalx

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Ovalx as a Company Compare Against Other Brokers

Broker ovalx IC Markets Roboforex eToro
Year Established 2002 2007 2009 2007
Head Office UK Australia Cyprus Cyprus, UK
Regulation Financial Conduct Authority (FCA) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
Used By 10,000+ Ovalx users 180,000+ IC Markets users 10,000+ Roboforex users 27,000,000+ eToro users
Negative balance protection No Yes No Yes
Guaranteed Stop Loss Yes No No No
Learn More Visit Ovalx Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider.

Ovalx review
Ovalx Pros and Cons

What we like about Ovalx

  • Used by over 10,000 Ovalx users and traders
  • Established in 2002
  • Regulated by Financial Conduct Authority (FCA)
  • Min. deposit from $100

What we don't like about Ovalx

Ovalx review
Ovalx Regulation and Licensing in more detail

We have checked and Ovalx is regulated and supervised by reputable organisations. You are able to check every Ovalx supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Ovalx. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria that is determined by the jurisdiction’s regulatory authorities, in order to stay licensed and continue operations in those jurisdictions. The whole notion of regulation is to protect Ovalx traders and provide a financially regulated trading environment. Financial regulation and license approval is essential.

Ovalx is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Ovalx you should be sure they're legitimate online agent.

Is Ovalx Global?

Yes, Ovalx is global as Ovalx is available in over 190 countries.

Ovalx is a global trading platform in the sense that it operates in 190 countries including nations in Africa, Oceania, and Europe. Major countries Ovalx covers include the UK, Germany, Australia, South Africa, Thailand, and China. As per its Wikipedia page, Ovalx has a total of more than 10,000 users.

Ovalx review
Ovalx Awards

Ovalx have won numerious industry awards over the 21 years they have been operating as a financial broker. We have listed the most notable awards and mentions for Ovalx below.

  • Online Personal Wealth Awards Best Education 2018
  • Online Personal Wealth Awards Best Trading Platform 2018
  • ADVFN International Finance Awards Best Spread Betting Platform 2018
  • Uk Forex Awards Best Forex Educators 2017
  • Shares Awards Best Trading Education 2017

Ovalx review
Ovalx Fees Explained

  • Ovalx doesn't charge withdrawal fees.
  • Ovalx does charge a fee for inactive accounts.
  • Ovalx doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Ovalx Fees Compare Against Other Brokers

Broker ovalx IC Markets Roboforex eToro
Min Deposit 100 200 1 50
Withdrawal Fees No No Yes Yes
Inactivity Fees Yes No No Yes
Deposit Fees No Varies No No
CFD Commission Fees Yes Yes No Yes

Ovalx Minimum Deposit

Ovalx require a minimum deposit of 100 GBP/USD/EUR when opening an Ovalx trading account.

A minimum deposit is the minimum amount of money required by Ovalx to open a new online brokerage account with them.

Don't be scared off by brokers like Ovalx charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on their platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make returns some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Ovalx Withdrawal Fees

Ovalx doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

For example Ovalx allows you to withdraw your funds to Credit cards, Debit cards, Bank Transfer, Neteller, UnionPay, SOFORT, Giropay, Payoneer.

Ovalx Inactivity Fees

Ovalx does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts and clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Ovalx Deposit Fees

Ovalx does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee.

The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Ovalx Commission Fees

Ovalx does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Ovalx review
What can you trade with Ovalx?

Be aware that different entities under the Ovalx Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client and the entity that holds the customer account. Additionally, the trading instruments offered by Ovalx may vary depending on the trading platform you choose to trade with.

You can trade a wide variety of instruments with Ovalx over 100 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets Ovalx offer over 60 currency pairs.

Compare Ovalx with IC Markets and Roboforex below.

Losses can exceed deposits

How Ovalx Trading Options Compare Against Other Brokers

Broker ovalx IC Markets Roboforex eToro
Instruments Available 100 2250 100 2000
Platforms MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 60 61 35 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) Yes Yes No Yes
Commodity CFDs        
Commodities Offered 16 20 21 31
Metals Yes Yes Yes Yes
Energies Yes Yes No Yes
Agricultural Yes Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 5000 2100 0 2042
UK Shares Yes Yes Yes Yes
US Shares Yes Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit Ovalx
Losses can exceed deposits
Visit IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
79% of retail investor accounts lose money when trading CFDs with this provider.

Ovalx review
Trading on Ovalx web platforms and other applications

Ovalx offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

A Ovalx iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

Ovalx also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See Ovalx's platforms

Is the Ovalx Trading Platform Secure?

Ovalx safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Ovalx also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating Ovalx.

Ovalx Trading Platform Options

Once you have logged into your Ovalx account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)

Ovalx does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

Ovalx does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options Ovalx gives you.

Ovalx review
Ovalx MetaTrader 4 (MT4)

Ovalx MetaTrader 4

MetaTrader 4, also known as MT4, is one of the most popular trading platforms available and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface, and an extremely customisable trading environment, designed to fulfill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex, but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with Ovalx. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with Ovalx in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. Ovalx MetaTrader 4 is compatible with the latest macOS Mojave. Ovalx allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on Ovalx

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade Ovalx MetaTrader 4 on iOS Devices

You can download the Ovalx app or also trade with Ovalx through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. Ovalx customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade Ovalx MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. Ovalx provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android Ovalx MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade Ovalx MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

Ovalx MetaTrader 4 Advanced Trading Tools

The Ovalx advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. Ovalx offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade Ovalx MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

Ovalx MetaTrader 4 AutoChartist

Ovalx Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

Ovalx Trading benefits

  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss

Ovalx Trading Accounts Offered

Below we give an overview on the account types that Ovalx offer. Whatever you are looking to trade the varying Ovalx account types will be able to provide you with what you need.

  • Demo account
  • Micro account
  • Mini account
  • Standard account

Can I try Ovalx?

Ovalx offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

Ovalx withdrawal and funding methods

Please note that the list of Ovalx payment methods below depend on the Ovalx Entity and the Clients Country of Residence.

All available Ovalx payment methods available to you can be found in your Ovalx members area checked on the Ovalx website.

Ovalx offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Ovalx

Ovalx Payment Methods

  • Ovalx accepts Credit cards
  • Ovalx accepts Debit cards
  • Ovalx accepts Bank Transfer
  • Ovalx accepts Neteller
  • Ovalx accepts UnionPay
  • Ovalx accepts SOFORT
  • Ovalx accepts Giropay
  • Ovalx accepts Payoneer
Broker ovalx IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes No Yes
Skrill No Yes Yes Yes
Payoneer Yes No Yes No
Neteller Yes Yes Yes Yes

*please note available Ovalx and other broker payment methods depend on the clients country of residence.

How can I start trading with Ovalx?

When opening a trading account with Ovalx, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Ovalx trading platforms here. You will need to provide some basic documentation to prove your identity as part of Ovalx onboarding and normal KYC identity checks. These checks are standard practice and help Ovalx provide a trustworthy financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with Ovalx

Ovalx allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.

As a market maker, Ovalx may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

CFD Trading on Ovalx

let's take a look at some of the basics of using Ovalx leverage.

Ovalx offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Ovalx leverage magnifies both profits and losses when trading.

Let's say for example you buy/sell ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Ovalx trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Ovalx leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Ovalx CFDs are typically used for short to medium term trades. For example Ovalx intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Losses can exceed deposits

Limit Risk When Trading with Ovalx Stop Loss, Ovalx Stop Limit Orders

A stop-loss order is an order placed with a broker like Ovalx to buy/sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education Resources at Ovalx

To trade effectively with Ovalx, it's important to get a have a good understanding of the Ovalx trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Ovalx and externally.

Ovalx offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy/sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Ovalx.

Take time to look around the Ovalx platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Ovalx

As part of our Ovalx review we review customer service options, response times and Ovalx trading platform problem resolution effectiveness. Ovalx support a wide range of languages including English, French, Spanish, German, Polish, Czech, Greek and Mandarin.

Ovalx have a double AA grade support rating because Ovalx offer live chat and email support in multiple languages.

Livechat Support at Ovalx

Ovalx does not offer LiveChat Support.

Email Support at Ovalx

We sent several emails to Ovalx and answer times overall were excellent. The fastest response from Ovalx was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with Ovalx, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from Ovalx.

Phone Support at Ovalx

We called Ovalx and the call was answered very quickly. The call was answered in less than 5 minutes.

The Ovalx phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Ovalx team by calling in varying languages. Ovalx made an effort to make sure our queries were answered.

Overall great phone support from Ovalx.

See how Ovalx Support Compares Against Other Brokers

Broker ovalx IC Markets Roboforex eToro
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, French, Spanish, German, Polish, Czech, Greek and Mandarin English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit Ovalx Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with Ovalx

As Ovalx is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • Be aware that the expiration date of Proof of address document for different entities under Ovalx Brand may be different.
  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 5 minutes or so to complete the account opening process.

While you might be able to explore Ovalx's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Ovalx you can visit the Ovalx trading platform here.
Losses can exceed deposits
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.ovalx.com on February 02, 2023.

Is Ovalx A Good Broker?

We spent over 3 months examining Ovalx in depth. Although we found some very useful aspects of the Ovalx platform that would be useful to some traders, our overall our feeling is that you would be better served with an alternative to Ovalx.

  • Ovalx have a good track record of offering Forex, CFDs, Spread Betting.
  • Ovalx has a history of over 21 years.
  • Ovalx has a reasonable sized customer support of at least 10.
  • Ovalx are regulated by the Financial Conduct Authority (FCA). This means Ovalx fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Ovalx have regulation from reputable regulators.
  • Ovalx has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Ovalx have an international presence in multiple countries. This includes local Ovalx seminars and training.
  • Ovalx are able to hire people from various locations in the world who can better communicate in your local language.

Ovalx Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

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Related Ovalx Vs Comparisons

We have covered allot in this Ovalx review, If you want to see how Ovalx compares side by side with other brokers check out our Ovalx Vs pages.

If you would like to see how Ovalx stands up against other brokers you can read some of our Ovalx comparisons below. We compare side by side some of our top rated Ovalx versus comparisons. Read our indepth Ovalx VS pages below.

Ovalx review
OVALX Frequently Asked Questions

Read our detailed Ovalx FAQ Section updated for 2023.

Can I try Ovalx?

Ovalx offer a demo account so you can try the Ovalx platform with virtual trading before you put down a payment. Virtual trading with Ovalx is zero risk. Learn more here

What funding methods do Ovalx accept?

Please note that the list of payment methods below depend on the Ovalx Entity and the Clients Country of Residence.

Ovalx offer the following funding payment methods Credit cards, Debit cards, Bank Transfer, Neteller, UnionPay, SOFORT, Giropay, Payoneer, among other payment methods.
Learn more here

Losses can exceed deposits

Is Ovalx safe?

Ovalx have over 10,000 users. Ovalx are considered reliable as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA). Any payments funded to Ovalx accounts by traders are held in a segregated bank account. For added security Ovalx use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.Trading with Ovalx is a risky activity, and because the market is so volatile, losses could happen at any time.

Losses can exceed deposits

Is Ovalx trading good?

Ovalx is considered good and reputable to trade with Ovalx. Ovalx is used by over 10,000 traders and Ovalx users. Ovalx offers Forex trading, CFDs trading, and Spread Betting trading. Minimum deposit with Ovalx is 100.

Is Ovalx trading Legit?

Ovalx was founded in UK in 2002. Ovalx has been facilitating trade on the financial markets for over 21 years. Ovalx offers clients Forex trading, CFDs trading, and Spread Betting trading. All funds deposited to Ovalx are held in segregated bank accounts for security. Ovalx is regulated by Financial Conduct Authority (FCA) so can be considered legit.

Is Ovalx a good broker?

Ovalx is overseen by the top tier financial regulators Financial Conduct Authority (FCA) so can be considered a good broker. Ovalx allows Forex trading, CFDs trading, and Spread Betting trading.

Is Ovalx trustworthy broker?

Ovalx can be considered trustworthy. All money funded to Ovalx is placed into a segregated bank account. this means your money in not held by Ovalx directly. The broker has no direct access to your funds so cannot misappropriate your money. Also Ovalx is regulated by Financial Conduct Authority (FCA).

What is the minimum deposit for Ovalx?

The minimum deposit to trade with Ovalx is 100.

How long do Ovalx withdrawals take?

Withdrawing money from Ovalx processing time varies depending on the method but averages 1-5 days.

Is Ovalx regulated?

Ovalx is regulated by the Financial Conduct Authority (FCA). Regulatory bodies conduct regular reviews and audits as part of Ovalx maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is Ovalx a market maker?

Ovalx is a market maker. Stocks, currency and other commodities and instruments will be brought or sold by Ovalx even if no buyer or seller is lined up.

How can I start trading with Ovalx?

When opening a trading account with Ovalx, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Ovalx trading platforms here.

Is my money safe with Ovalx?

Ovalx is regulated by the Financial Conduct Authority (FCA). One of the most important criteria for traders when choosing a broker like Ovalx is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers are highly unlikely to manipulate market prices due to the regulations imposed. When you send in a withdrawal request to Ovalx, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Ovalx a con?

Ovalx is regulated and well established having been in business for over 21 years. Ovalx is not a con.

Can you make money with Ovalx?

Although traders have had great success with Ovalx. Trading on the financial markets with Ovalx is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does Ovalx have fees?

Ovalx doesn't charge withdrawal fees. Ovalx does charge a fee for inactive accounts. Ovalx doesn't charge deposit fees.

When was Ovalx founded?

Ovalx was founded in 2002.

How many people use Ovalx?

Ovalx is used by over 10,000 registered Ovalx users.

What is Ovalx Headquarters country?

Ovalx has its head quarters office in UK .

Does Ovalx offer negative balance protection?

Ovalx does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Ovalx offer guaranteed stop loss?

Ovalx offers guaranteed stop loss protection. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Ovalx allow scalping?

Ovalx does not offer scalping.

Does Ovalx allow hedging?

Ovalx offers hedging.

Does Ovalx offer CFD trading?

Ovalx offers CFD trading.

Does Ovalx offer STP?

Ovalx does not offer STP trading.

How many people use Ovalx?

Ovalx is used by over 10000 Ovalx users and traders.

Is Ovalx an ECN broker?

Ovalx does not offer ECN trading.

Does Ovalx offer a demo account?

Ovalx offers a demo account.

Does Ovalx offer an Islamic account?

Ovalx does not offer Islamic accounts.

What are the funding methods for Ovalx?

Please note that funding methods and funding options available with Ovalx can be found in the Ovalx Members area and depend on the Ovalx client’s country of residence. Please check your specific available payment methods on the Ovalx website. Ovalx accept the following funding methods : Credit cards, Debit cards, Bank Transfer, Neteller, UnionPay, SOFORT, Giropay, Payoneer.

Ovalx review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Ovalx brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Ovalx review written by Mark Hansen of Comparebrokers.co