Halifax vs OvalX compared

Online brokers compared for fees, trading platforms, safety and more. See how Halifax stacks up against OvalX!

Halifax
OvalX
73.85% of retail CFD accounts lose money

Last update of dataNov 2022

Halifax

UK stockbroker, part of Halifax (Bank of Scotland), owned by Lloyds Banking Group

Recommended for beginners and long-term investors.

OvalX

OvalX is a global forex and CFD broker regulated by the UK's FCA. Its parent company, Monecor (London) Ltd is listed on the London Stock Exchange.

Recommended for forex, spread and CFD traders looking for great funding and withdrawal options and an easy-to-use platform.

Halifax's service is on par with OvalX's and a comparison of their fees shows that Halifax's fees are slightly lower than OvalX's.

Account opening takes somewhat more effort at Halifax compared to OvalX, deposit and withdrawal processes are somewhat more complicated at Halifax, while customer service quality is considerably lower than OvalX's.

Our experts rated the trading platform of Halifax as much less user-friendly than the platform of OvalX, found that clients have access to more markets and products with Halifax, while OvalX provides somewhat lower-quality research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.6

Recommended for Beginners and long-term investors

Overall Score
4.3

Recommended for Forex, spread and CFD traders looking for great funding and withdrawal options and an easy-to-use platform

Country of origin

UK

Country of origin

UK

Fees

Fees score
4.5
Fees score
3.6
Fees summary

Low non-trading fees, but high trading fees.

Fees summary

Average trading and non-trading fees, no withdrawal fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
3.8
Deposit and withdrawal score
4.5
Number of base currencies

1

Number of base currencies

3

Deposit type

Withdrawal type

Account opening

Account opening score
4.0
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$100

*
Time to open account

1 day

Time to open account

1 day

Required documents

May require proof of residency at a UK address for the last 3 years, for trading of US investments a special W-8BEN form for tax purposes

Required documents

Proof of identity: passport / national ID card / driver's license Proof of residency: bank statement / utility bill

Trading platform

Web platform score
2.8
Web platform score
4.0
Mobile platform score
-
Mobile platform score
4.5
Desktop platform score
-
Desktop platform score
3.4

Markets and products

Markets and products score
3.2
Markets and products score
2.0
Stocks
Stocks
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
*
*
Funds
Funds
Bonds
*
*
Bonds
Options
Options
Futures
Futures
Crypto
Crypto
*
*
CFDs
CFDs
CFD disclaimer

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.

Research, education

Research score
3.5
Research score
2.8
Charting quality

Mid-range

Charting quality

Great

Education score
3.5
Education score
5.0
Demo account
Demo account

Customer service

Customer service score
0.0
Customer service score
4.5
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

£85,000

Investor protection amount

£85,000 for clients under FCA and €20,000 for clients under CySEC

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

1996

Foundation date

1965

Country of regulation

UK

Country of regulation

UK, Cyprus

Halifax

For detailed information and hands-on experience, read our review of this broker.

OvalX

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

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.

Brokers displayed might not be available in United States.

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