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OvalX vs Monaxa
Both forex brokers have built a positive reputation, and feedback from our members supports that.
That said, OvalX currently holds a lower overall rating (1) compared to Monaxa (4.9).
OvalX has a higher minimum deposit than Monaxa, at 250.0.
Both platforms offer their clients demo accounts.
OvalX offers a lower maximum leverage of 1:275, whereas Monaxa allows trading with up to 1:2000.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
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Overall Rating:
Platform:
Pricing:
Customer service:
Features:
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| Minimum deposit ($) | 250.0 | 15.0 |
| Commission | - | 5.0 |
| Accepting US clients? | ||
| Swap free accounts | ||
| Segregated accounts | ||
| Interest on margin | ||
| Managed accounts | ||
| Accounts for money managers (MAM, PAMM) | ||
| One click trading | ||
| API | ||
| OCO orders | ||
| Trading over the phone | ||
| Hedging allowed | ||
| Trailing stops | ||
| Mobile trading | ||
| Scalping allowed | ||
| Bonuses | ||
| Demo Accounts | ||
| Web based trading | ||
| Contests | ||
| Decimals | 5 | 4 |
| Minimum lot size | 0.01 | 0.01 |
| Maximum lot size | - | 100.0 |
| Spread | Variable | Variable |
| Broker type | STP, DMA, Prime of Prime | Dealing Desk, STP, ECN |
| Maximal leverage (1:?) | 275 | 2000 |
| Availability | STP, DMA, Prime of Prime | Dealing Desk, STP, ECN |
| Regulation | FCA (UK), CySEC (Cyprus), FSCA (South Africa) | - |
| Trading Platforms | MetaTrader 4 (MT4) | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| Funding/Withdrawal methods | Wire Transfer, Credit Card, Debit Card | Wire Transfer, Credit Card, Local Deposits, Multiple local methods, Crypto |
| Account Currency | GBP | USD, GBP, EUR, JPY, ZAR |
| Languages | English | English, Spanish, Portuguese, Japanese, Thai, Arabic, Vietnamese, Hindi, Simplified Chinese, Bahasa Malay |
| Country | Cyprus | Anguilla |
| Trading platform(s) timezone | United Kingdom | Anguilla |
| Other trading instruments | Indices, Spread Betting | CFDs |
| spreads | ||
| EUR/USD | - | - |
| GBP/USD | - | - |
| USD/JPY | - | - |
| USD/CAD | - | - |
| XAU/USD | - | - |
