Is OvalX free?

Disclaimer: 73.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

OvalX does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with OvalX though, then you will find the fees they charge below.

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73.85% of retail CFD accounts lose money

OvalX fees
Overview of OvalX fees and charges

It's safe to say that OvalX's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of OvalX's fees

OvalX Fees snapshot
Assets Fee level Fee terms
US stock fee - Not available
EURUSD fee High OvalX platform: the fees are built into the spread, 0.8 pips is the average spread cost during peak trading hours.
US mutual fund fees - Not available
Inactivity fee Low No inactivity fee

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73.85% of retail CFD accounts lose money

OvalX fees
OvalX fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare OvalX fees with its closest competitors, CMC Markets and HYCM.

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73.85% of retail CFD accounts lose money

OvalX fees
OvalX trading fees

OvalX's trading fees are mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.

Let's break down trading fees according to the different asset classes available at OvalX.

Trading fees

OvalX's trading fees are low.

Forex fees

OvalX's forex fees are average.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
OvalX CMC Markets HYCM
EURUSD benchmark fee $19.2 $15.4 $14.3
EURGBP benchmark fee $15.8 $14.1 $15.5

CFD fees

OvalX has low CFD trading fees.

CFD fees and commissions on a $2,000 trade
OvalX CMC Markets HYCM
Apple CFD $1.6 $10.1 $1.5
Vodafone CFD $0.4 $10.6 -
Germany $11.9 - -

Currency conversion fee

OvalX will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..

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73.85% of retail CFD accounts lose money

OvalX fees
OvalX non-trading fees

When it comes to non-trading fees, OvalX is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at OvalX that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how OvalX stacks up in terms of non-trading fees
OvalX CMC Markets HYCM
Withdrawal fee $0 $0 $0
Deposit fee $0 $0 $0
Inactivity fee No Yes Yes
Account fee No No No

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73.85% of retail CFD accounts lose money

OvalX fees
OvalX deposit fee

Usually, brokers don't charge anything for deposits, and OvalX is no different.

OvalX deposit methods
OvalX CMC Markets HYCM
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Deposit fee $0 $0 $0

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73.85% of retail CFD accounts lose money

OvalX fees
OvalX withdrawal fee

OvalX generally doesn't charge a withdrawal fee.

OvalX withdrawal fees and options compared
OvalX CMC Markets HYCM
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee for bank transfer $0 $0 $0

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73.85% of retail CFD accounts lose money

OvalX fees
OvalX inactivity fee

OvalX does not apply an inactivity fee, which is great because your account won't be charged even if you do not trade for an extended period (like several months or years).

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73.85% of retail CFD accounts lose money

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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73.85% of retail CFD accounts lose money

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