OvalX Broker Review and Opinions

OvalX is a UK-based broker offering forex, CFDs and spread betting. It provides demo accounts to potential traders as well as free educational materials.

OvalX is regulated by both the FCA and CySEC, with its parent company Monicor London Ltd listed on the London Stock Exchange (LSE). Furthermore, OvalX offers negative balance protection and compensation through a negative balance protection and compensation scheme.

Opinions

OvalX is an online broker offering a range of trading options, such as forex, cryptocurrencies, shares and commodities. It boasts competitive spreads, commission-free trading and access to educational materials.

Oval X is proud to be a member of the London Stock Exchange (LSE) and regulated by top financial regulators, providing traders with an expansive trading platform that’s both secure and regulated.

Fees are reasonable, with a minimum deposit of PS100 or currency equivalent required. Withdrawals can be made free of charge up to five times each calendar month.

Setting up an account is a straightforward process that only takes 20 minutes to finish. All you need to do is provide basic personal details and answer some basic financial knowledge questions, plus upload a photo ID for identification purposes.

OvalX is an ideal platform for both experienced traders and beginners. It boasts a comprehensive set of trading tools, as well as providing a demo account. Plus, the platform is user-friendly with advanced charts and one-click trading capabilities.

Benefits

A reliable broker should offer traders a selection of trading instruments, an easy deposit and withdrawal process, as well as excellent customer service. However, what constitutes “good broker” may differ for different traders; thus it’s essential to find the one best suited to your needs.

OvalX provides a broad selection of trading instruments, such as currencies, shares and cryptocurrencies to choose from. This enables you to craft sophisticated strategies with various risk and reward potentials.

OvalX not only offers 60+ Forex pairs, but they also provide CFDs on a vast selection of shares and indices. This provides traders with the opportunity to diversify their trades and take advantage of market volatility.

Deposit and withdrawal

OvalX is a forex and CFD broker regulated by the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) and Financial Sector Conduct Authority in South Africa. OvalX operates under Monicor Limited, an impressive trading name established in 1965 that is listed on the London Stock Exchange. With such an impressive history, OvalX can boast of unparalleled reliability as a trading name.

It offers its clients a number of advantages, such as negative balance protection and compensation in the event of insolvency. Furthermore, there are various payment methods available like bank transfer or credit/debit card deposits.

To open a trading account with OvalX, you need to provide basic personal and identification information as well as answers to some financial knowledge questions. After that, you can deposit at least 100 units in the base currency of your choice and begin trading immediately – either using either Standard or Professional accounts depending on what suits your preferences best.

Trading platform

OvalX provides a vast selection of trading instruments, such as forex, CFDs and spread betting. Additionally, it provides an impressive suite of trading tools along with several accounts and an expansive demo account for customers to test out their skillsets before investing in actual trading.

Traders can benefit from a suite of tools designed to analyze price action and the sentiment of other investors. For instance, the Sentiment Mapper allows users to see how other clients have responded to certain market movements.

Trading volume helps traders identify potential entry and exit points. Furthermore, it helps them avoid impulsive moves which could result in losses.

OvalX’s desktop platform also includes 11 drawing tools that are ideal for charting trends and pinpointing key support and resistance levels. Furthermore, it has 17 different timeframes from tick to monthly charts.

Pros and cons

OvalX is a trusted online broker that provides trading services in Forex, spread betting and crypto. It accepts numerous payment methods such as credit/debit cards, e-wallets like Skrill or UnionPay, as well as wire transfer.

OvalX’s customer service is excellent. You can reach the team via phone and email, and they promptly address any inquiries you have.

Another positive is the free educational section which helps clients comprehend basic terminology and trends. This can be especially beneficial for novice traders who wish to gain more expertise about trading.

OvalX also offers a secure mobile app for trading and research that features real-time charts, price alerts and one-touch trading. Its security is ensured through encryption and fast touch ID log-in. Clients can also take advantage of custom indicators as well as trailing stop losses and limits.

Account opening and login

OvalX broker provides a broad selection of trading platforms and financial instruments. Furthermore, it provides market analysis tools that help traders make more informed decisions.

OvalX is a licensed financial broker recognized by the FCA, CySEC, and FSCA as providing security to new traders. As such, it serves as an ideal option for those new to trading.

Customer service is accessible via a range of channels, such as email and telephone. Its support team is well-informed on the broker’s policies so they can quickly provide satisfactory answers.

The account-opening process is entirely digital, and the initial deposit requirement is just 100 base currency units. You will also have to answer a series of questions about your financial knowledge and upload a photo ID. The broker takes great care in safeguarding its clients’ personal information.

Education

OvalX is a UK-based forex broker that offers its clients an outstanding trading platform and outstanding customer service team. It has also earned registration with the Financial Conduct Authority (FCA), one of the premier regulatory bodies in the industry. Furthermore, OvalX takes part in various national compensation schemes which safeguard traders during times of financial hardship.

OvalX not only has a mobile app, but also provides free educational materials like webinars, downloadable eBooks, video tutorials and more. Furthermore, traders can benefit from sentiment mapping technology which lets them view other traders’ trading activity on an interactive chart. As such, OvalX is considered the best forex broker for beginners in the UK due to its minimal initial deposit of just PS100 – perfect for those with smaller budgets but big goals. Moreover, its mobile trading app is worth downloading too – definitely worth your while!

Customer service

OvalX provides customers with a range of customer support options, such as email, phone calls and live chat. These can be utilized by clients to request information or ask questions about the broker’s services.

The broker also offers a premium account with additional benefits, such as a dedicated relationship manager, unlimited withdrawals and invitations to exclusive webinars.

In addition to these advantages, the broker provides a vast selection of trading conditions and platforms for traders. These include MetaTrader 4, TraderPro and an internet app.

OvalX’s parent company is listed on a stock exchange and regulated by top-tier financial regulators, making it an extremely secure choice for traders. Furthermore, OvalX scores highly in trust categories with an impressive rating on Trustpilot. This makes it an ideal starting point for novices wanting to explore the market and learn how to trade successfully.

Demo account

OvalX is a regulated broker geared toward retail traders. It boasts an easy-to-use interface, fast touch ID log-in process and secure mobile trading apps that let traders trade CFDs on thousands of instruments with confidence.

The broker provides several account types, such as TraderPro CFD and MT4 CFD. These accounts offer high leverage of up to 1:200 and allow traders to trade forex, commodities, cryptocurrencies, indices, and shares.

Furthermore, the broker is licensed and regulated by both the Financial Conduct Authority (FCA) in the UK and CySEC in Cyprus, two highly-tier regulators which guarantee clients’ funds are secure.

OvalX is proud to be a member of the London Stock Exchange, an indication of its stability and professionalism. Furthermore, it offers negative balance protection as well as compensation plans.