OvalX Broker Rating
Read our OvalX review at Forex Tools Trader to know everything about the OvalX trading platform and why we recommend this broker to traders. You can sign up with OvalX in the link below or read our full OvalX review to learn more.
OvalX is a digital brokerage firm that was founded in the year 2002. Since then, the broker is providing its trading services in forex, commodities, indices and CFDs etc. to the traders all around the world. The head office of the broker is located in the United Kingdom.
Here is a detailed OvalX review that will help the readers in understanding and analyzing the features and traits provided by the broker and the reasons that make it trustworthy and popular in the financial market.
Types of Accounts Offered
OvalX does not offer different account types for its customers. Usually, the account types offered by brokers differ on the basis of the spreads offered, the minimum deposit amount required for each, the geographical region where the trader resides and the country where the broker is operating in. In addition to that, some also offers Islamic Shariah account for Muslim traders.
OvalX offers CFD trading accounts for all its customers whether it be beginners or professionals.
Charges and Commission
OvalX does not charge any fee from its customers when the deposit any amount in their accounts. However, depending on the method required to withdraw the funds, a minimal fee usually less than 100 pounds may be charged by the banks.
In addition to that, the broker also charges an inactivity fee from its customers when they remain inactive for a period of six months or more. The inactivity fee demanded by the broker is 25 pounds.
Methods of Deposit and Withdrawal
There are multiple different methods that are offered by OvalX for its customers to carry out the transactions in their accounts. These methods may include both Visa or MasterCard credit card or debit card, China Union Pay, GiroPay, Sofort, Neteller, Skrill etc. The minimum deposit amount that is demanded by the broker for opening an account is 100 pounds.
OvalX offers a high leverage to its customers that may range up to 1:200 maximum. However, the leverage that is usually offered on assets depends on the trading portfolio of the trader, the asset he wants to trade and the size of position in market.
The experts always warn the traders before choosing the leveraged products that with the increased exposure in the financial market, their risk of loss also increases.
Bonuses are usually offered by the brokers to build confidence among their customers that their funds and assets are in safe hands. OvalX offers a no deposit bonus of 20 dollars to its new customers who gets their accounts integrated with the trading platforms of the broker.
Recognition and Awards
Being recognized by a reputable authority adds a lot to the reputation and position of any firm in the international market. Since its inception OvalX has won a number of rewards for providing remarkable services to its traders.
Some of these awards include Best Trading Education at the Shares Award 2019, Best Trading Platform for Professionals at the Online Personal Wealth Awards in 2019, Best Trading Platform at the Professional Trader Awards in 2019 and a number of other awards.
The professional traders choose a broker to trade with that can solve their queries on time. OvalX an excellent customer service to its traders that can be accessed through the email or the phone number that is available on the official website of the broker. The team of the broker is available from Monday to Friday between the time slot of 7:30 to 21:00.
Training and Education
It is mandatory for the traders to train and educate themselves before properly initiating the trade process. The official website of OvalX does not provide sufficient educational resources for its customers, however, it directs them to a number of webinars, courses and eBooks to train themselves.
OvalX is a trustworthy broker that is recognized by the traders globally. Through its advanced technologies and tools, it provides a user-friendly and convenient trading environment to its traders.
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