Broker Review Contents
Saxo Bank vs OvalX
Choosing between Saxo Bank and OvalX in 2025 depends on what kind of trader you are. Saxo Bank caters to professionals and high-net-worth traders with its institutional-grade tools and wide market access. OvalX, formerly known as ETX Capital, focuses on retail traders seeking a simpler, more cost-effective trading experience.
In this review, we’ll compare Saxo Bank vs OvalX across key dimensions: regulation, markets offered, platform experience, fees, and more.
Broker Summary
| Feature | Saxo Bank | OvalX (ETX Capital) |
|---|---|---|
| Broker Type | CFD & Investment Bank | CFD Broker |
| Regulation | FCA, FINMA, FSA, MAS, DFSA, ASIC | FCA |
| Platform Options | SaxoTraderGO, SaxoTraderPRO | MT4, OvalX Web Trader |
| Market Access | Forex, Stocks, ETFs, Bonds, Options, Crypto | Forex, Stocks (CFDs), Indices, Commodities |
| Min Deposit | $500 (varies) | £250 |
| Overall Score | 69/100 | 52/100 |
Regulation & Trust
Saxo Bank is licensed in multiple tier-1 jurisdictions:
- FCA (UK)
- FINMA (Switzerland)
- FSA (Denmark)
- MAS (Singapore)
- ASIC (Australia)
- DFSA (UAE)
This makes it one of the most trusted CFD brokers globally.
OvalX, on the other hand, is FCA-regulated but lacks international licenses. It’s solid for UK clients but does not match Saxo’s global regulatory profile.
🏆 Winner: Saxo Bank
Market Access
| Instrument | Saxo Bank | OvalX |
| Forex | ✅ Yes | ✅ Yes |
| Stocks | ✅ Yes | ✅ Yes |
| ETFs | ✅ Yes | ❌ No |
| Commodities | ✅ Yes | ✅ Yes |
| Indices | ✅ Yes | ✅ Yes |
| Bonds | ✅ Yes | ❌ No |
| Options | ✅ Yes | ❌ No |
| Cryptocurrencies | ✅ Yes | ❌ No |
Saxo offers one of the broadest product ranges in the industry, making it ideal for portfolio diversification. OvalX is more limited, offering only standard CFD instruments.
🏆 Winner: Saxo Bank
Trading Platforms
| Feature | Saxo Bank | OvalX |
| Proprietary Platform | ✅ SaxoTraderGO / PRO | ✅ OvalX Web Trader |
| MetaTrader 4 | ❌ No | ✅ Yes |
| MetaTrader 5 | ❌ No | ❌ No |
| Mobile App | ✅ Yes | ✅ Yes |
| API Trading | ✅ Yes (Saxo OpenAPI) | ❌ No |
Saxo’s platforms are built for performance, with multi-screen setups, institutional-grade execution, and advanced risk tools. OvalX’s platform suite is more basic, with MT4 support and a retail-focused web app.
🏆 Winner: Saxo Bank
Trading Fees
| Fee Type | Saxo Bank | OvalX |
| Spreads (EUR/USD) | From 0.6 pips | From 0.8 pips |
| Commission (Forex) | ✅ Yes (Classic/Platinum) | ❌ No |
| Inactivity Fee | ✅ Yes | ✅ Yes |
| Withdrawal Fees | ❌ No | ❌ No |
Saxo offers volume-based pricing tiers, but may not be cost-effective for beginners. OvalX offers commission-free CFD trading but with wider spreads.
🏆 Tie – Saxo is better for high-volume traders; OvalX may be cheaper for casual users.
Account Type
| Account Type | Saxo Bank | OvalX |
| Demo Account | ✅ Yes | ✅ Yes |
| VIP / Premium | ✅ Yes | ✅ Yes |
| Islamic Account | ❌ No | ❌ No |
| Professional Account | ✅ Yes | ✅ Yes |
🏆 Winner: Saxo Bank – More support for professional and API-based accounts.
Customer Support & Education
- Saxo Bank provides multi-lingual support, 24/5 live chat, and deep educational content including webinars, strategy articles, and market analysis.
- OvalX offers decent phone/email support and education but not at the same scale.
🏆 Winner: Saxo Bank
Final Verdict: Saxo Bank vs OvalX
| Category | Winner |
| Regulation | Saxo Bank |
| Market Access | Saxo Bank |
| Platforms | Saxo Bank |
| Fees | Tie |
| Account Options | Saxo Bank |
| Support & Education | Saxo Bank |
🎯 Overall Winner: Saxo Bank
Saxo Bank is the superior broker for advanced traders, professionals, and those seeking multi-asset access with deep liquidity. OvalX may still appeal to beginner or UK-only traders who want MT4 access with low entry requirements.
