OvalX review




  • Leverage: 30:1

  • Regulation: FCA

  • Min. Deposit: 100 GBP

  • HQ: UK

  • Platforms: TraderPro, MT4

  • Found in: 1965

OvalX Licenses

  • Monecor (London) Ltd -  authorized by FCA (UK) registration no. 124721 
  1. OvalX Pros and Cons
  2. Is OvalX safe or a scam?
  3. Leverage
  4. Fees
  5. Spread
  6. Deposits and Withdrawals
  7. Trading Platform
  8. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offerings including fees, platforms, verified regulations, contacted customer service, and placed trades to see trading conditions and give expert opinion on OvalX

What is OvalX?

OvalX, previously known as ETX Capital, is quite an old company with a history dating back to 1965, that nowadays acts as a global provider of online FX and CFD trading innovative technology and gives an opportunity to access up to 6000 markets, supported by the strong customer service team and enhanced opportunities through FCA regulated guidelines.

It is true that OvalX’s primary business is heading more toward institutional clients, yet as retail trading becomes more and more popular on a daily basis, OvalX expanded its offering to global traders as well. Even though online trading offering is active for the last 15 years, it now became one of the competitive trading solutions, and what is more important a reliable solution.

OvalX Pros and Cons

Based on our expert findings, OvalX is a highly reliable broker with top-tier regulation that ensures traders a safe trading environment providing client protection and compensation. The broker has a good selection of FX and CFD instruments with low trading fees and spreads through the industry-standard MT4 platform. Moreover, Spread Betting is available for UK traders. The broker is also famous for providing institutional financial features to retail brokers.

On the negative side, there’s not enough information on conditions provided by the broker as well as a narrow market range including only FX and CFD instruments and it doesn’t provide trading of cryptocurrencies. Also, the broker’s customer support can be reached only during business days.

FCA regulated BrokerOnly FX and CFD trading
Good reputation and long years of operationNo 24/7 support
Negative Balance protectionTrading conditions are not clear
Compensation Scheme
Provides institutional financial services
Low spreads and Fees
Global expansion across the globe

OvalX Review Webpage

OvalX Review Summary in 10 Points
🏢 HeadquartersUK
🗺️ RegulationFCA
📉 Instruments50+ Forex pairs, commodities, CFD products or spread betting
🖥 PlatformsTraderPro, MT4
💰 EUR/USD Spread0.6 pips
🎮 Demo AccountProvided
💳 Minimum deposit$100
💰 Base currenciesGBP, USD, EUR
📚 EducationTrading education on a very high level
☎ Customer Support24/5

Overall OvalX Ranking

Overall, our impression of the broker was positive, it is a reliable broker with good service and long years of operation. The broker is suitable for clients from different countries, the fees offered are among the lowest as well as the spreads for FX pairs.

  • OvalX Overall Ranking is 7.9 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
RankingOvalXXMBlackBull Markets
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantageLow SpreadEducationLeverage

OvalX Alternative Brokers

However, we found the broker has not a very wide range of markets offering only FX and CFD trading instruments and doesn’t have a cryptocurrency option. It also doesn’t provide a high leverage trading which is a regulatory case, so here we gather some alternative Brokers for your consideration:


Overall, for its strives and achievements, OvalX has gained various awards and gained international recognition, which ensures the quality of OvalX trading services, not only from reputable issuers but from the traders’ community as well.

Also, the educational section eas poor so beginners might look for other options. Here we suggest you to look through some alternative brokers and their offerings:

  • UK Forex Awards | Best Forex Trading Tools & Software
  • Shares Awards | Winner Best Futures Options Broker
  • Investment Frauds | Winner Value for money

Is OvalX safe or scam?

No, OvalX is not a scam. It is a reliable broker with top-tier regulation and a secure trading environment offering traders safe and transparent conditions with protection and compensation programs.

Is OvalX regulated?

OvalX is an online trading name of Monecor (London) Limited, the firm headquartered in London and authorized by the Financial Conduct Authority, as well as an active member of the London Stock Exchange.

  • In fact, being an established firm under the strict rules of FCA, which actually is one of the strongest and most sharp regulators in the industry, means OvalX has appointed each and every rule to their procedures that ensure broker’s reliability.

These set of authorized controls include the most important thing to keep customer money secure that including but not limited to daily security checks for sufficient regulatory capital, separation of the client’s funds which are also kept in investment-grade rated UK banks, participation in schemes that covers traders in case of insolvency and many more.

See our conclusion on OvalX Reliability:

  • Our Ranked OvalX Trust Score is 8.9 out 0f 10 for good reputation and service over the years, also a reliable top-tier license that ensures traders’ safety and transparent conditions and money protection
OvalX Strong PointsOvalX Weak Points
FCA regulated None
Global Expansion
Negative balance protection
Compensation Scheme
Good Reputation and long years of operation

OvalX Review License


Leverage is an opportunity for traders to borrow funds from other brokers with the aim to amplify their returns from an investment. Always note that the leverage bears risks and can potentially lead to the loss of all your funds, so be cautious and calculate your chances beforehand.

OvalX Leverage offer a potentially appropriate opportunity to their traders since increased leverage may also increase trading risk, however leverage always is a regulated offeringn:

  • OvalX offers a limited leverage range up to a maximum of 30:1 since being regulated by FCA and complies with ESMA laws.

Account types

To simplify the account opening process, OvalX provides its clients with one standard trading account, while the only choice goes to the platform that offers three different elaborated platforms, allowing them to select the one that suits the best. The broker also offers to open a demo account upon proceeding to real trading to improve your trading skills.

Fast digital account opening Only one account type
Low minimum deposit
Demo Account

Trading Instruments

Based on our findings, OvalX offers its clients access to 60+ forex pairs, worldwide indices, over 1000 US and European shares, and commodities all through CFD; the broker’s offerings also include spread betting for UK residents.

As a former institutional financial service provider, OvalX started providing its retail clients with numerous powerful features that were previously available for institutional clients only.

The OvalX follows the strategy of tight spreads since tighter the spread smaller the distance that the market in question has to move in, so you can benefit and enjoy truly competitive pricing.

  • OvalX Markets Range Score is 8.3 out 0f 10 for good trading instrument selection, however, the only disadvantage is that the instruments can be traded only with FX and CFDs

OvalX Review Instruments


OvalX trading fees are built into the OvalX spread and are considered to be on a very competitive level among the market offering. It offers commission-free stock CFD trading while non-trading fees are low. As for forex fees, they are average.

  • We rank OvalX fees with an overall ranking of 7.8 out f 10 based on our tests and compared to other brokers. OvalX fees are generally considered good being lower than the industry average.
FeesOvalX FeeICM Capital FeeActivTrades Fee
Deposit FeeNoNoNo
Withdrawal FeeNoNoNo
Inactivity FeeYesYesYes
Fee rankingLowAverageLow

OvalX Spreads

OvalX’s spreads tariffs are provided via access to the institutional greed of pricing, the OvalX trading fees are built into the spread.

As you can see below, the OvalX spread is a very competitive offering among the market, as Forex spreads start at 0.7 pips for EUR/USD,  Equities – 0.08 indicative spreads for some stocks, Commodities– minimum spreads starting from 3 pips, Indices– minimum spreads starting from 1 pip for certain major indices.

“Typical” spreads for noted pairs represent the median and are tracked during a specified time frame, however, spreads may vary based on market conditions, including volatility, available liquidity, and other factors.

  • OvalX Spreads are ranked low with an overall rating of 9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average of 0.6 pips for EURUSD, and spreads for other instruments are very attractive too

AssetOvalX SpreadICM Capital SpreadActivTrades Spread
EUR USD Spread0.6 pip1.3 pip0.63 pips
Crude Oil WTI Spread0.0343
Gold Spread0.43535.75

ETX Capital spread

Deposits and Withdrawals

From what we found, OvalX offers a range of popular ways to deposit money into the trading account that allows you to choose among major Credit and Debit Cards except for AMEX, Wire Transfers, Online Bank Transfers, as well several forms of e-payment UnionPay, Skrill, Sofort, giropay and Neteller.

  • OvalX Funding Methods we ranked Excellent with an overall rating of 8 out of 10. The minimum deposit is among the average in the industry, yet Fees are either none or very small also allowing to benefit from various account-based currencies

Here are some good and negative points for OvalX funding methods found:

OvalX AdvantagesOvalX Disadvantages
100 GBP minimum depositNone
Fast digital deposits via Credit/Debit, Bank Transfers, and multiple e-payments
Free Deposit and Withdrawal processes

Minimum deposit

OvalX minimum deposit amount is £100 or the currency equivalent.

OvalX minimum deposit vs other brokers

OvalX Most Other Brokers
Minimum Deposit $250 $500


OvalX also applied a competitive proposal for a withdrawal option, as supplies each trading account with five withdrawals over USD 100 within each month without a processing fee or withdrawal fee. Further on, in case you wish to withdraw more funds then it will incur a charge of 25$ per transaction.

ETX Capital funds transaction

Trading Platforms

OvalX Platform offering a choice between proprietary platform and industry-leading MetaTrader4. While Broker brings trading opportunities with access to 5,000 markets and spread betting round-the-clock with a variety of tailored price alerts through email or texts, customized charts and indicators, limits, drag and drop stops, as well as educational and analysis support.

  • We ranked OvalX Platforms with a rating of 8.6 out of 10 for the good selection of sophisticated trading platforms including leading-edge MT4 and proprietary OvalX platform. The platforms are well equipped with sophisticated trading features and are suitable for traders of every expertise

Trading Platform Comparison to Other Brokers:

PlatformsOvalX PlatformsPepperston PlatformsAvaTrade Platforms
Own PlatformYesYesYes
Mobile PlatformYesYesYes

Desktop Platform

Likewise, you still have a choice to use an industry-leading MetaTrader4 that is famous for its charting package, selection of automating capabilities or ability to bring your own EAs to automate orders. MT4 is a global platform with around worlds presence, the highest implemented security and execution offers, that gained the highest rankings and it is smart enough from OvalX to propose both platforms to your convenience.

Moreover, OvalX offers all of its platforms in mobile format, meaning that you can access your TraderPro platform on your Apple or Android phone or tablet. Nowadays, most traders execute positions wherever they are, that’s why OvalX trading allows you to move around freely while you trade.

OvalX Trading Tools

The tools are available on both platforms that OvalX stays on and includes proprietary OvalX previously known as ETX TraderPro, a truly powerful, fully customizable software, yet with intuitive design and advanced charting. OvalX features flexible graph options and is a platform with the highest-grade professional tools, bringing highly interactive trading with a chance to embrace significant risk in the ambition of significant returns.

ETX Capital platform

OvalX Customer Support

Another advantage we found with OvalX is their proactive and knowledgeable customer support committed to providing client satisfaction 24/7. The support is omnichannel offering Live chat, email, and international phone calls.

  • We rank OvalX Customer Support 8 out 0f 10 based on our testing. The broker provides quick and relevant support and we remained highly satisfied with the quality of support. The main problem is that the broker doesn’t provide support on weekends, and Live chat is available only in English

See our find and Ranking on Customer Service Quality:

Quick responseNo 24/7 Support
Relevant answersLive Chat available only in English
Availability of Live Chat

OvalX Review Support


In addition, the broker undertakes to ensure that new traders are properly educated and ready to start trading. For that reason, Demo account is available for opening at any time, as well as the detailed and various levels of trading education that are considered to be on a very high level compared to its peers.

  • OvalX Education ranked overall 7 our of 10 based on our findings. The broker provides good quality trading education, yet the range of resources is a bit limited and may not be sufficient for beginners. The education resources comprise od educational guides, News, analysis, as well as webinars.

OvalX Review Education

OvalX Review Conclusion

In conclusion, our experience with OvalX was positive. OvalX has everything to prove its reliability and excellent reputation. Years of experience and the long operation history of the OvalX parent company still keep a broker at a strong position among institutional providers as well as maintain competitive offerings to the traders.

Nevertheless, the broker work with vast institutional clients and the retail traders will find OvalX expanded approaches too. Among the OvalX benefits, we have to admit their platform solutions, as well as a comprehensive and well-built educational system with a range of free materials available to traders of different experiences.

Based on Our findings and Financial Expert Opinion OvalX is Good for:

  • Professional Traders
  • Institution Trading
  • Traders with Various Trading Strategies
  • Algorithmic or API Traders
  • EAs running
  • Copy Trading
  • Traders who prefer MT4 platform
  • Currency Trading and CFD Trading
  • CFD Shares Trading
  • Low Spreads Trading

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One response to “OvalX”

  1. Hi,I from Malaysia,I want to ask some questions.In Malaysia have any branch or IB(persons) for support? Then can transfer deposit/withdraw to local bank Malaysia?

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