ETX vs NAGA | We Compare Brokers
Home page -> Broker Comparison -> ETX vs NAGA

ETX vs NAGA | Broker Comparison

Review By: Ivan Postoian
Review Updated: 2022-05-09

So you are looking to compare forex brokers, no doubt you are looking for a forex broker comparison which will help you find who has the best forex spreads and forex leverage. We can help! We have done extensive research of the major forex brokers to bring you a set of results with customisable comparisons between brokers. Use our tool below to make a quick comparison between two forex brokers to see who has what rates and fees. Over on the right of the screen, you will see two drop-down fields. Select the brokers you want to compare. See our full list of broker comparisons here.

4.1
Rating

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.2% of retail investor accounts lose money when spread betting or trading CFDs with OvalX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.

Pros
  • Heavily regulated, safe and secure broker (FCA, CySEC, FSCA)
  • Competitive spreads in currency pairs – 0.6 pips EUR/USD
  • MT4 and user-friendly proprietary OvalX platform
  • Experienced staff, over two decades in the forex space

 

Cons
  • Limited copy trading offering – MT4 only via EAs
  • Research could be better
  • No US or Canada customers accepted at this time

 

3.9
Rating

RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money.

Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Feature
OvalX
NAGA
Minimum deposit:
250 GBP, EUR, USD
250 EUR, GBP, USD
Withdrawal fee amount:
None
5 EUR, GBP, USD
Inactivity fee charged (Y/N):
N
N
Max leverage:
30:1 EEA/UK (up to 1:400 in foreign jurisdictions)
1:30 or 1:1000
Spread from:
0.6
1.3 pips
Number of instruments:
5,000+
950+
Year founded:
1965 (rebranded as ETX Capital in 2002)
2015
Time to open account:
1-2 business days
1 business day
Demo account provided (Y/N):
Y
Y
Countries of regulation:
UK, Cyprus (EEA MiFID II), South Africa
Germany, Cyprus
Products offered:
Forex pairs and CFDs for stocks, indices, ETFs, energies, commodities, metals, cryptocurrencies, spread betting
Forex and CFDs – Stocks, Cryptos, Indices, ETFs, Commodities, Futures – along with a dedicated copy-trading platform
Compare other brokers