HYCM vs OvalX compared

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

HYCM
OvalX
76% of retail CFD accounts lose money
73.85% of retail CFD accounts lose money

Last update of dataNov 2022

HYCM

HYCM is a global forex and CFD broker regulated by many financial authorities globally, including the top-tier FCA.

Recommended for forex and CFD traders who prefer the MetaTrader platform.

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.

HYCM's service is on par with OvalX's and a comparison of their fees shows that HYCM's fees are similar to OvalX's.

Account opening takes about the same effort at HYCM compared to OvalX, deposit and withdrawal processes are about the same quality at HYCM, while customer service quality is similar to OvalX's.

Our experts rated the trading platform of HYCM as being of the same quality as the platform of OvalX, found that clients have access to about the same number of markets and products with HYCM, 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
4.2

Recommended for Forex and CFD traders who prefer the MetaTrader platform

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
3.9
Fees score
3.6
Fees summary

Low CFD and forex fees, average non-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
4.5
Deposit and withdrawal score
4.5
Number of base currencies

6

Number of base currencies

3

Deposit type

Withdrawal type

Account opening

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

$100

*
Minimum deposit
*

$100

*
Time to open account

1 day

Time to open account

1 day

Required documents

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

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
4.3
Mobile platform score
4.5
Desktop platform score
3.4
Desktop platform score
3.4

Markets and products

Markets and products score
2.1
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: 76% 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.

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
5.0
Education score
5.0
Demo account
Demo account

Customer service

Customer service score
4.3
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 for cliens under FCA, €20,000 under CySEC, no protection under other entities

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

1977

Foundation date

1965

Country of regulation

UK, Cyprus, Dubai, Cayman Islands

Country of regulation

UK, Cyprus

HYCM

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.

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