OvalX Review 2024

What is OvalX?

OvalX, formerly known as ETX Capital, was a British financial services product that provided financial derivatives trading such as contracts for difference (CFDs) and financial spread betting. It was operated by Monecor (London) Limited in London, while Oval Money (Europe) Ltd handled the European operations. The company began its journey 20 years ago as TradIndex, then rebranded to ETX Capital, and finally to OvalX in May 2022. It was taken over by the Switzerland-based private equity firm Guru Capital in October 2020. The acquisition was funded by Jump Capital, a US-based venture capital firm. As a result, Monecor was controlled by Jump Capital whose partner, Saurabh Sharma, joined Monecor’s Board. OvalX offered retail and professional traders forex and contracts for differences (CFDs) instruments. It had an intuitive, customizable trading platform where investors could invest in thousands of global CFD markers. The platform was available on both desktop and mobile, providing a seamless experience for users. However, OvalX officially shut down on 17 March 2023. The forex and contracts for differences (CFDs) broker sent details to the clients via email. As part of the service closure, OvalX partnered with Capital.com to allow its clients to continue trading on similar products with limited interruption. Clients who still hold balances with Monecor (London) Limited or Oval Money Europe were provided with further information regarding the liquidation process. Despite the closure, the legacy of OvalX continues. Capital.com’s Group CEO, Peter Hetherington, mentioned that the.

What is the Review Rating of OvalX?

What are the Pros of OvalX?

OvalX, a licensed broker based in the United Kingdom, offers several advantages in the context of forex trading. Regulation: OvalX is regulated by the Financial Conduct Authority (FCA), ensuring a safe trading environment and offering client protection and compensation. Experience: With over 50 years of experience in providing trading services, OvalX has a solid reputation in the industry. Wide Range of Trading Instruments: OvalX offers a good selection of over 5,000 financial instruments for trading CFDs of popular asset classes. Trading Platforms: Clients can trade on the MetaTrader 4 and ETX TraderPro platforms. Educational Resources: OvalX provides valuable trading tools and educational resources, including comprehensive market analysis, trading guides, and webinars. Minimal Trading Costs: OvalX provides minimal trading costs with an option to trade commission-free stocks. Public Company: The parent company of OvalX is a public company, and its stocks are traded on the London Stock Exchange. Please note that while OvalX offers robust tools and educational resources, they do not provide managed accounts or social trading. Therefore, they are more suited towards the self-directed investor.

What are the Cons of OvalX?

OvalX, a forex broker company based in the United Kingdom, has several drawbacks that potential investors should be aware of. Here are some of the key cons:. High Minimum Deposit: OvalX requires a high minimum deposit, which could be a barrier for new or small-scale investors. Limited Payment Systems: The selection of payment systems is small, and there is a withdrawal commission under certain conditions. Complex Account Opening Procedure: The procedure for opening an account is complex and lengthy, consisting of four stages. Lack of PAMM Accounts or Investment Programs: There are no PAMM accounts or investment programs for generating passive income. Slippage Issues: Some users have reported that OvalX often slips stop losses, even in slow markets. This could lead to trades being executed at less favorable levels than intended. These cons could potentially impact the trading experience and profitability of investors using OvalX for forex trading. It’s important for potential users to consider these factors when deciding whether to use OvalX as their forex broker. Please note that all investments carry risks, and past performance is not indicative of future results. Always do your own research before making investment decisions.

What are the OvalX Current Promos?

Unfortunately, as of the latest information available, OvalX’s services have been discontinued. As part of their service closure, they partnered with Capital.com to allow their clients to continue trading on similar products with limited interruption. Therefore, there are no current promotions from OvalX. However, you may want to check with Capital.com for any ongoing promotions or offers. Please note that this information is accurate as of the last update and may have changed. For the most current information, it is recommended to visit the official websites or contact customer service directly.

What are the OvalX Highlights?

OvalX is a powerful, advanced trading platform that offers a wide range of trading instruments. It is regulated by some of the most reputable financial authorities in the world, including the UK’s FCA, Cyprus’s CySEC, and South Africa’s FSCA. The platform is known for its affordable offerings that attract many traders. It requires a relatively low minimum deposit, offers decent spreads, and charges little to no non-trading fees. Traders have the option to trade on the industry-staple MetaTrader 4, or on OvalX’s own personal platform. However, it’s worth noting that the broker offers a limited amount of trading tools, very basic research tools, no additional imaginative features, and limited customer support. Despite these limitations, OvalX’s regulatory status and affordable offerings make it a reliable choice for traders. The company behind OvalX, Monecor Ltd, is regulated by the FCA and CySEC, proving that the broker maintains a high standard of service. All EU and UK brokers, including OvalX, are required to prove their financial stability by maintaining a minimum capital of €730,000. They also have to participate in compensation funds, ensuring that in case a broker goes bankrupt, each of its clients could receive a compensation of up to €20,000 in the EU or £85,000 in the UK. Furthermore, OvalX is obligated to keep client money separate from their own in segregated bank accounts. This not only protects your money in case of broker insolvency but also prevents the broker from using your money for its own financial purposes. In conclusion, OvalX is a trusted and reliable platform for forex trading, offering a range of features that cater to both new and experienced traders. Despite some limitations in terms of trading tools and customer support, its strong regulatory status and affordable offerings make it a compelling choice in the forex trading market.

Is OvalX Legit and Trustworthy?

OvalX is a forex broker that has received mixed reviews regarding its legitimacy and trustworthiness. Here’s a detailed analysis:. Regulation and Safety of Funds OvalX is regulated by some of the most reputable financial authorities in the world, including the UK’s Financial Conduct Authority (FCA), Cyprus’s CySEC, and the FSCA of South Africa. These regulatory bodies ensure that brokers maintain a high standard of service and adhere to strict laws and procedures. OvalX, under the company Monecor Ltd, is required to prove its financial stability by maintaining a minimum capital of €730,000. Client Protection Brokers regulated by the FCA and CySEC are obligated to participate in compensation funds. This means that if a broker goes bankrupt, each of its clients could receive a compensation of up to €20,000 in the EU or £85,000 in the UK. Furthermore, these companies are required to keep client money separate from their own in segregated bank accounts. This protects your money in case of broker insolvency and speeds up withdrawals. Trading Platform OvalX offers clients the chance to trade on the industry-staple MetaTrader 4, or on OvalX’s own personal platform. However, it has been noted that the broker offers a limited amount of trading tools, very basic research tools, no additional imaginative features, and limited customer support. Customer Reviews Customer reviews of OvalX are varied. Some customers have praised the broker for its reliable service, great website & app, and helpful account managers. However, others have criticized the broker for poor customer support and ignoring GDPR regulations. Trust Score Forex Suggest has given OvalX a trust score of 50 out of 100. This score suggests that while some traders may find the broker trustworthy, others may have reservations. In conclusion, while OvalX is regulated by reputable financial authorities and offers some attractive features, potential clients should be aware of the mixed reviews and do thorough research before deciding to engage in business or investment activities with OvalX. It’s always important to consider multiple sources of information when evaluating the legitimacy and trustworthiness of a forex broker.

Is OvalX Regulated and who are the Regulators?

OvalX is a financial services provider that operates under the trading name of two entities: Monecor (London) Limited and Monecor (Europe) Limited. These entities are authorised and regulated by some of the most reputable financial authorities in the world. Monecor (London) Limited is regulated in the UK by the Financial Conduct Authority (FCA), while Monecor (Europe) Limited is regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC). In addition to these, OvalX is also regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. This multi-jurisdictional regulation provides a robust regulatory framework for OvalX, ensuring that it adheres to high standards of operation in the financial markets. The company behind OvalX, Monecor Ltd, has a long history in the financial services industry, having been originally incorporated in 1965. Over the years, the company has evolved and adapted to the changing landscape of the financial markets, launching various services such as electronic trading and execution. Regulation by these authorities provides a level of assurance to clients about the safety of their funds. For instance, EU and UK brokers are required to maintain a minimum capital of €730,000 and participate in compensation funds. This means that in the event of broker insolvency, each client could receive a compensation of up to €20,000 in the EU or £85,000 in the UK. Furthermore, these companies are obligated to keep client money separate from their own in segregated bank accounts. This protects client funds from being lost in case of broker insolvency and prevents the broker from using client money for its own financial purposes. In conclusion, OvalX is a regulated financial services provider with oversight from multiple reputable financial authorities. This regulation provides a level of assurance to clients about the safety and security of their funds when trading with OvalX.

Did OvalX win any Awards?

OvalX, a British financial services product providing financial derivatives trading such as contracts for difference (CFDs) and financial spread betting, has indeed been recognized with several awards over the years. In 2011, it won the Best Futures & Options Broker at the 2011 Shares Awards. In 2017, it was recognized as the Best Forex Educators at the 2017 UK Forex Awards and also won the Best Trading Education at the 2017 Shares Awards. In 2018, OvalX launched a number of new Cryptocurrencies and won three awards for the new TraderPro platform: Best Trading Platform and Best Education at the 2018 Online Personal Wealth Awards, and Best Spread Betting Platform at the 2018 ADVFN Financial Awards. In 2019, OvalX continued its streak of excellence by winning the Best Trading Platform at the Professional Trader Awards, Best Trading Tools at the Online Personal Wealth Awards, Best Trading Platform for Professionals at the Online Personal Wealth Awards, and Best Trading Education at the Shares Awards. These awards highlight OvalX’s commitment to providing top-notch trading platforms and educational resources, contributing to its reputation in the forex industry. However, it’s important to note that as of February 2023, the company announced that it was winding down its business after making significant losses in the previous year.

How do I get in Contact with OvalX?

If you are looking to contact OvalX, there are several ways to do so. Here are some options:. Phone: You can reach OvalX at +44 20 7392 1494. Email: You can send an email to enquiries@ovalx.com. Website: You can visit the OvalX website at https://www.ovalx.com/. . OvalX is a forex broker that offers trading in a variety of markets, including forex, indices, commodities, shares, and more. They are known for their proprietary trading platform, OvalX TraderPro, as well as their MetaTrader 4 (MT4) platform. OvalX is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. I hope this information helps you get in touch with OvalX. Let me know if you have any other questions!.

Where are the Headquarters from OvalX based?

OvalX, a British financial services product provider, has its headquarters located in London, UK. The company, originally incorporated as Dusrolgraph Ltd in 1965, has a rich history in the financial services industry. It was known for providing financial derivatives trading such as contracts for difference (CFDs) and financial spread betting. However, it’s important to note that as of 2023, OvalX announced that it was winding down its business after making significant losses in the previous year. The company agreed to transfer client assets to rival firm Capital.com. In the context of forex, the closure of OvalX’s services could have implications for its clients who were involved in forex trading. These clients would need to transition their trading activities to other platforms, such as Capital.com, which partnered with OvalX during its service closure. Additionally, it’s worth mentioning that OvalX also has operating entities in Cyprus, specifically in Mesa Geitonia. This indicates the company’s international presence in the forex market prior to its service discontinuation. Please note that this information is based on the latest available data and may be subject to change. For the most accurate and up-to-date information, it’s recommended to visit the official websites or contact the companies directly.

What kind of Customer Support is offered by OvalX?

OvalX, a well-known forex and contracts for differences (CFDs) broker, offers a variety of customer support services to its clients. Website and App Support OvalX provides a user-friendly website and app that are intuitive for trading, charting, and placing orders/stops. They also offer smaller positions which require less margin and less risk, often down to 0.1 or lower in some markets. Account Manager Support Clients are assigned an account manager who provides regular helpful emails and phone calls, as well as sorting out any issues quickly and professionally. For example, one of the account managers, George Walker, has been mentioned for his excellent service. Educational Support OvalX offers educational support in the form of weekly webinars provided by Corellian Academy. These webinars are highly useful, professional, and informative, providing insights into market trends and reactions. Email Support An emailed ‘morning report’ is sent before 8am, providing clients with a summary of key announcements and events in the coming days. However, it’s important to note that some users have reported issues with OvalX’s customer support, such as delayed responses to emails and unfulfilled promises. In response to these complaints, OvalX has encouraged users to reach out and provide feedback so they can improve their services. As of March 17, 2023, OvalX has officially shut down. They offered their clients the option to transfer their accounts, positions, and funds to Capital.com. Despite the closure, OvalX’s commitment to providing quality customer support services remains a benchmark in the industry.

Which Educational and Learning Materials are offered by OvalX?

OvalX, a trading name of Monecor London Limited, is a UK-based financial services company that has made significant investments in its educational materials. These resources cater to both beginners and more advanced traders, making it a comprehensive source of learning for individuals interested in forex trading. Educational Materials. OvalX’s educational materials are designed to enhance the trading skills of its users. They provide a wealth of information and insights that can help traders navigate the complex world of forex trading. Awards and Recognition. OvalX’s commitment to education has been recognized in the industry. The company has won multiple awards for its trading tools, trader education, and platform. These accolades underscore the quality and effectiveness of OvalX’s educational resources. Regulation and Safety. OvalX operates under strict regulatory environments, including the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CYSEC), and the South African Financial Sector Conduct Authority (FSCA). This ensures that the educational materials provided by OvalX adhere to high standards of accuracy and reliability. In conclusion, OvalX offers a wide range of educational materials that can help individuals enhance their forex trading skills. These resources, combined with the company’s commitment to education and strict regulatory oversight, make OvalX a reliable source of forex trading education.

Can anyone join OvalX?

OvalX was a trading platform that offered a range of financial products, including forex. However, as of September 6, 2023, Monecor (London) Limited, which traded as OvalX, was placed into Member’s Voluntary Liquidation. Therefore, it is no longer possible to join OvalX. In the event of insolvency, OvalX had measures in place to protect its clients. Segregated client funds could not be used for reimbursement to OvalX’s creditors. Eligible claimants had the right to compensation by the Financial Services Compensation Scheme (FSCS), up to £85,000. As part of their service closure, OvalX partnered with Capital.com to allow their clients to continue trading on similar products with limited interruption. Capital.com is a trading platform that offers a broad range of markets, including forex. They provide resources such as an award-winning platform, smart risk-management tools, 24-hour support, and education for all levels. If you’re interested in forex trading, you might consider platforms like Capital.com. However, it’s important to understand the risks involved in forex trading. It’s also recommended to gain a solid understanding of forex markets and trading strategies before getting started. Always remember to trade responsibly.

Who should sign up with OvalX?

OvalX is a forex trading platform that caters to a wide range of traders, from beginners to seasoned professionals. Here are some key points to consider:. Regulation and Safety: OvalX is regulated by some of the most reputable financial authorities in the world – the UK regulator FCA, Cyprus’s CySEC, and the FSCA of South Africa. This ensures a high standard of service and security for its users. Trading Platform: OvalX offers the industry-standard MetaTrader 4 platform, as well as its own proprietary platform. This provides flexibility for traders to choose the platform that best suits their trading style. Trading Conditions: OvalX offers a relatively low minimum deposit, decent spreads, and charges little to no non-trading fees. This makes it an affordable option for many traders. Trading Instruments: While OvalX offers a limited amount of trading tools, it does provide over 5,000 trading instruments. This wide range of options can cater to the diverse needs of different traders. Customer Support: OvalX provides customer support from Monday to Friday, 7:30 am to 9 pm. However, some users have reported issues with customer support. Demo Account: For beginners, OvalX offers a free demo trading account. This allows new traders to practice forex trading in a risk-free environment. User Reviews: User reviews for OvalX are mixed. Some users praise the platform for its easy-to-use interface and helpful account managers. , while others have reported issues with customer support. In conclusion, OvalX could be a good choice for traders who value regulation and safety, a wide range of trading instruments, and the flexibility of choosing between different trading platforms. However, potential users should be aware of the reported issues with customer support.

Who should NOT sign up with OvalX?

OvalX is a licensed broker with headquarters in the United Kingdom, offering over 5,000 trading instruments on the MetaTrader 4 and ETX TraderPro platforms. However, there are certain types of traders who might not find OvalX to be the best fit for their needs. 1. Traders Seeking Managed Accounts or Social Trading Tools: OvalX does not provide managed accounts or social trading tools. Therefore, traders who prefer to rely on the expertise of others or wish to follow the strategies of successful traders might not find OvalX suitable. 2. Traders Expecting In-depth Market Analysis: While OvalX does offer valuable trading tools and educational resources, it does not provide expert market analysis. Traders who rely heavily on in-depth market analysis for their trading decisions might find this lack of service a drawback. 3. Traders Expecting Quick Customer Support: There have been instances where customers have reported poor customer support, with complaints about ignored emails and unfulfilled promises. Traders who value quick and efficient customer service might want to consider this before signing up with OvalX. 4. Traders from the USA: OvalX does not accept clients from the USA. Therefore, traders based in the USA would not be able to sign up with OvalX. 5. Traders Looking for Bonuses and Promotions: OvalX does not offer sign-up bonuses, rewards, promotions, or competitions for traders. Traders who are attracted by such incentives might not find OvalX appealing. In conclusion, while OvalX offers a wide range of trading instruments and has the backing of a company with over 50 years of experience. , it might not be the best fit for everyone. Traders should carefully consider their individual needs and expectations before choosing a forex broker.

Does OvalX offer Discounts, Coupons, or Promo Codes?

OvalX, a forex trading platform, does not currently offer any sign-up bonuses, rewards, promotions, or competition for traders. This includes both first-time sign-ups and beginner traders. In the past, OvalX offered a no deposit bonus of $20 to all new clients who registered a TraderPro or MT4 account during a specific period. The conditions for cashing out the bonus included trading 10 standard lots within 60 calendar days. However, this offer is no longer available. It’s important to note that brokers often offer such bonuses to new traders to draw in more customers in addition to encouraging trading activities. Offering a deposit or welcome bonus is a common way to assure traders that they will receive some money back depending on the initial deposit made. Despite the lack of bonuses, OvalX provides other features that may be attractive to traders. For instance, it supports strategy automation via the use of software expert advisers (EAs). It also offers a demo trading account, which can be beneficial for beginners who want to practice trading without risking real money. In conclusion, while OvalX does not currently offer discounts, coupons, or promo codes, it does provide other features that can enhance the trading experience. Traders are advised to check the official OvalX website or contact their customer service for the most accurate and up-to-date information.

Which Account Types are offered by OvalX?

OvalX, a well-established Forex broker with a rich history in the investment industry, offers its traders a streamlined account structure. Unlike many other brokers, OvalX does not differentiate between account types based on the trader’s experience level or deposit amount. Instead, all traders are offered Contract for Difference (CFD) trading accounts. The minimum deposit required to open an account with OvalX is $100. This makes it accessible to traders with varying financial capacities. The broker provides a range of deposit options including Bank Transfer, Visa Debit/Credit Card, MasterCard Debit/Credit Card, Skrill, Neteller, Sofort, GiroPay, and China Union Pay. OvalX’s trading platform compatibility extends across multiple operating systems including Mac, Windows, Linux, Web, Mobile Android, iPhone, and iPad. This ensures that traders can access their accounts and execute trades from almost any device. In terms of tradable assets, OvalX offers a wide variety. Traders can trade in over 55 currencies, more than 5 cryptocurrencies including Bitcoin, Litecoin, Ethereum, and over 15 types of CFDs including Gold, Silver, Other Precious Metals, Stocks, Bonds, Oil, and Other Commodities. Despite the information available, it’s important to note that there are some discrepancies in the sources. One source suggests that OvalX offers two account types: a Standard Account and a Professional Account. However, another source states that OvalX does not differentiate between account types. Therefore, for the most accurate and up-to-date information, potential traders should directly contact OvalX or visit their official website. Please note that trading in forex and other leveraged products involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.

How to Open a OvalX LIVE Account?

Opening a OvalX LIVE Account involves a series of steps. However, it’s important to note that as of September 6, 2023, OvalX, formerly known as ETX Capital, has been placed into Member’s Voluntary Liquidation. Despite this, clients can still open an account directly with Capital.com. Here are the steps to open an account with OvalX, keeping in mind that the process may now be different due to the service closure. Create an Account: Visit the broker’s website and click on the option to open an account. This will redirect to the registration portal. Add Personal Information: Fill in the required personal information. This typically includes your name, date of birth, contact information, and financial details. Verification: Verify your identity and address. This usually involves uploading a scan or photo of a government-issued ID showing your photo, name, and date of birth. Additionally, you may need to provide a utility bill, bank statement, or other document with your name and address on it. Deposit Funds: The minimum deposit required to open an account with OvalX was $100. Deposit options included Bank Transfer, Visa Debit/Credit Card, MasterCard Debit/Credit Card, Skrill, Neteller, Sofort, GiroPay, and China Union Pay. Start Trading: Once the account is set up and funded, you can start trading. OvalX provided access to more than 5,000 tradable assets across six markets. Please note that the information provided is based on the process that was in place before OvalX’s service closure. For current procedures, it’s recommended to visit Capital.com’s website or contact their customer service for assistance.

How to Open a OvalX DEMO account?

Opening a OvalX DEMO account is a straightforward process that involves a few key steps. This account is ideal for beginner traders who want to learn to trade without incurring any trading risks or losses. Here’s a step-by-step guide:. Step 1 – Create an Account First, navigate to the OvalX broker’s website. Look for the option to open an account at the top left of the website. Clicking on this will redirect you to the registration portal. Step 2 – Add Personal Info Once you’re in the registration portal, you can choose to open a demo account. You’ll need to complete a short demo sign-up form. After submitting your registration, your demo account will be launched. The OvalX Demo Account mimics a live trading account and offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account. This includes access to platforms like MetaTrader 4. Remember, a demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money. Beginner traders can use demo accounts to familiarise themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and developing their own trading strategies. Please note that while this guide provides a general overview of the process, the exact steps may vary slightly depending on the specific requirements of the OvalX platform.

How Are You Protected as a Client at OvalX?

As a client at OvalX, you are protected in several ways:. Segregated Client Funds: OvalX segregates client funds from its own, which means your money is kept separate from the company’s operational funds. This is a standard practice in the forex industry to ensure the security of client funds. Financial Services Compensation Scheme (FSCS): In the unlikely event of OvalX becoming insolvent, segregated client funds cannot be used for reimbursement to OvalX’s creditors. If OvalX is unable to satisfy repayment claims, eligible claimants have the right to compensation by the FSCS, up to £85,000. Negative Balance Protection: Retail clients also have negative-balance protection, meaning that they can never lose more than the money on the account. This is particularly important in forex trading where leverage can result in losses exceeding your initial deposit. Risk Management Tools: OvalX offers stop-losses and guaranteed stop losses to help manage your exposure. These tools are essential in forex trading to limit potential losses. Data Security: OvalX encrypts and protects your information through Transport Layer Security. This ensures the confidentiality and integrity of your data during transmission. Regulation: OvalX is regulated by financial authorities, which impose strict standards to protect clients. Liquidation Procedures: If you still hold balances with Monecor (London) Limited or Oval Money Europe, you should see the attached liquidation FAQs for further information. Please note that as of September 6, 2023, OvalX’s services have been discontinued. However, they have partnered with Capital.com to allow their clients to continue trading on similar products with limited interruption. If you did not choose to migrate as part of the process, you can still open an account directly with Capital.com.

Which Funding methods or Deposit Options are available at OvalX?

OvalX, a forex broker regulated by some of the most reputable financial authorities in the world, offers several deposit options for its clients. Here are the details:. Visa or MasterCard Clients can use their Visa or MasterCard debit/credit cards to fund their accounts. This is a popular and convenient method as it allows for instant deposits. Wire Transfer Another option is wire transfer. While this method may take longer for the funds to reflect in the client’s account, it is a secure method of transferring large amounts of money. E-Wallets E-wallets like Skrill are also accepted. These digital wallets offer a quick and easy way for clients to fund their accounts. Other Methods Other methods such as Sofort, GiroPay, and China Union Pay are also available. These options provide additional flexibility for clients, especially those in regions where these services are popular. It’s important to note that a minimum deposit of £100 is required when opening an account. The broker offers several types of accounts for forex trading: standard, professional, and premium. All accounts are designed for professional traders with free capital. The size and type of spread, type of order execution, and leverage are identical on all accounts. Please note that while OvalX accepts these payment methods, the availability may depend on the client’s country of residence. It’s always a good idea to check with the broker for the most accurate and up-to-date information.

What is the Minimum Deposit Amount at OvalX?

The minimum deposit amount required to open a real trading account with OvalX is $250. However, the minimum deposit for first-time traders might vary based on the trading account type selected. OvalX, founded in 2001 and headquartered in London, United Kingdom, is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). It offers a demo trading account and does not accept traders from Belgium, Singapore, Canada, and the United States. The deposit options include Bank Transfer, Visa Debit/Credit Card, MasterCard Debit/Credit Card, Skrill, Neteller, Sofort, GiroPay, and China Union Pay. The platform provided is MetaTrader 4, ETX TraderPro. Please note that the deposit activation can take up to 72 hours. It’s also important to mention that depending on OvalX’s authorization as a broker and its regulatory authorities, one of the requirements may be that client funds must be kept in segregated accounts from the broker account and could only be used by traders to conduct trading activities. In comparison with other brokers, the minimum deposit that OvalX requires when registering a live account is not considered high. This makes it accessible for many individuals interested in forex trading. Please remember to always consider your financial situation and risk tolerance before starting to trade with real money. It’s also recommended to make use of the demo account to familiarize yourself with the platform and trading conditions. For more detailed information, please refer to the official OvalX website or contact their customer service.

Which Withdrawal methods are available at OvalX?

OvalX, a broker regulated by some of the most reputable financial authorities in the world, offers a variety of withdrawal methods to its clients. These methods are designed to provide convenience and ease of use, catering to the diverse needs of its global clientele. Visa or MasterCard: One of the most popular methods for withdrawal is through Visa or MasterCard. These globally recognized payment systems offer a secure and efficient way for traders to access their funds. Wire Transfer: Another method available is wire transfer. This traditional method of transferring money is known for its reliability and can be used for large transactions. E-Wallets: In response to the digital age, OvalX also accepts e-wallets like Skrill for withdrawals. E-wallets offer a fast and convenient way to manage funds online. It’s important to note that OvalX does not charge fees on deposits or withdrawals, making it an affordable choice for traders. However, traders should be aware that while OvalX does not charge any fees, there may be charges applied by the payment system providers. In the context of forex trading, the availability of these withdrawal methods provides flexibility for traders. Whether they prefer the traditional route of wire transfers or the modern approach using e-wallets, traders can choose the method that best suits their needs. Please note that while this information is accurate as of the time of writing, it’s always a good idea to check the latest information on the OvalX website or contact their customer service for the most up-to-date details.

Which Fees are charged by OvalX?

OvalX, a forex trading platform, has a structured fee system that is transparent and competitive. Here are the key points:. Spreads: OvalX’s spreads start from as low as 0.6 pips on EUR/USD. This is the difference between the bid price and the ask price, and it’s how OvalX earns most of its revenues from currency pairs. Commissions: More information on commissions is provided when opening an account. Commissions are charged on Contract for Differences (CFDs), with rates for share trading as low as 0.1%. Swap Rates: OvalX charges the inter-bank market rate plus 1.35% annualized swap rates on overnight positions. These are fees for holding a position open overnight and vary depending on the currency pair and direction of the trade. Inactivity Fee: An inactivity fee of £25 is charged every 6 months. This is a common practice among forex brokers to encourage regular trading. Withdrawal Fees: The first five withdrawals of a month are free, and a charge of 10 USD per withdrawal is applied thereafter. Additionally, traders are charged a withdrawal fee for amounts less than 100 USD. No Hidden Fees: OvalX has no further hidden fees like deposit fees. This transparency is crucial for traders to calculate their potential costs accurately. In conclusion, while trading forex with OvalX, it’s essential to consider these costs as they can impact the profitability of your trades. Always remember to check the current fee structure directly with OvalX, as fees can change over time.

What can I trade with OvalX?

OvalX, a trading platform, offers a wide range of financial securities for trading. Here’s a detailed list of what you can trade with OvalX:. Forex: OvalX provides a platform for trading in more than 55 currencies. This includes major, minor, and exotic currency pairs, offering a broad spectrum of opportunities for forex traders. Cryptocurrencies: Cryptocurrencies like Bitcoin, Litecoin, and Ethereum are also available for trading on OvalX. This allows traders to participate in the dynamic and rapidly evolving cryptocurrency market. Indices: Indices are another asset class that can be traded on OvalX. Indices provide a measure of the price performance of a group of shares from a particular exchange. Shares: OvalX offers the opportunity to trade shares from various companies. This allows traders to take a position on the future price movements of individual company shares. Commodities: Traders can also trade in commodities on OvalX. This includes precious metals like gold and silver, oil, and other commodities. Bonds and Interest Rates: OvalX provides the option to trade in bonds and interest rates. This gives traders the opportunity to speculate on the future movements of interest rates. In addition to these, OvalX offers over 5,000 trading instruments from various asset classes. This wide range of trading instruments provides traders with a multitude of options to diversify their trading portfolio. It’s important to note that trading in these financial instruments involves risk, and traders should ensure they understand these risks before they start trading.

Which Trading Platforms are offered by OvalX?

OvalX, a licensed broker with headquarters in the United Kingdom, offered a choice of multiple high-quality trading platforms. However, it’s important to note that as of September 6, 2023, OvalX’s services have been discontinued. MetaTrader 4 (MT4) was one of the platforms provided by OvalX. MT4 is an industry-standard platform, well-known and widely used in the trading world. It offers a comprehensive suite of tools for forex trading, including real-time market quotes, a full set of trade orders, and various execution modes. In addition to MT4, OvalX also offered its own proprietary platform, ETX TraderPro. This platform was available in both web and mobile versions. ETX TraderPro was designed to provide an intuitive and user-friendly trading experience. Despite these offerings, OvalX had some limitations. The broker did not provide managed accounts, social trading tools, or expert market analysis. Furthermore, the customer support was limited to Monday to Friday from 7:30 am to 9 pm. After the discontinuation of OvalX’s services, the company partnered with Capital.com to allow its clients to continue trading on similar products with limited interruption. If you’re interested in the platforms offered by OvalX, you might want to consider exploring the offerings of Capital.com.

Which Trading Instruments are offered by OvalX?

OvalX, formerly known as ETX Capital, is a London-based CFD broker that has been in operation since 1965. It offers a diverse range of financial instruments, allowing investors to access various markets and diversify their portfolios. Forex Trading OvalX provides access to more than 55 currency pairs. This wide selection of forex trading options allows traders to speculate on the price movements of various currency pairs, offering opportunities for profit in both rising and falling markets. Commodities Trading Commodities are another key trading instrument offered by OvalX. Traders can speculate on the price movements of various commodities, including gold, silver, and other precious metals, as well as oil and other commodities. Shares and Indices OvalX also offers trading in shares and indices. This allows traders to speculate on the price movements of individual company stocks, as well as the broader movements of stock market indices. Cryptocurrencies For professional clients, OvalX offers the opportunity to trade in cryptocurrencies. This includes popular digital currencies like Bitcoin, Litecoin, and Ethereum. Bonds and Interest Rates In addition to the above, OvalX also provides trading in bonds and interest rates. This allows traders to speculate on the price movements of various bonds and interest rates, offering further diversification opportunities. It’s important to note that OvalX was placed into Member’s Voluntary Liquidation on 6 September 2023. As part of their service closure, they partnered with Capital.com to allow their clients to continue trading on similar products with limited interruption. If you did not choose to migrate as part of the process, you can still open an account directly with Capital.com.

Which Trading Servers are offered by OvalX?

OvalX, previously known as ETX Capital, is a well-established trading platform with a rich history and a wide range of services. It offers a comprehensive trading experience with a variety of trading instruments and platforms. Trading Platforms. OvalX provides its users with two main trading platforms. OvalX TraderPro: This is OvalX’s proprietary platform, accessible via web and mobile versions. It is designed to cater to the needs of both novice and experienced traders, offering a user-friendly interface and a wide range of tools and features. MetaTrader 4 (MT4): In addition to its proprietary platform, OvalX also supports the popular MT4 platform. MT4 is renowned for its advanced charting capabilities and extensive library of technical indicators, making it a preferred choice for many traders. Regulation and Licensing. OvalX operates under the regulation of two major financial authorities. The Financial Conduct Authority (FCA) in the UK. The Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulatory bodies ensure that OvalX adheres to strict standards of operation, providing a high level of protection for its clients. Trading Instruments. OvalX offers over 5,000 trading instruments, allowing clients to trade in a variety of markets. These include:. Shares. Commodities. Indices. Cryptocurrencies (Available for professional clients only). Account Types. OvalX offers several types of accounts to cater to the diverse needs of its clients. Live Trading Account: This is the standard account type for regular trading activities. Professional Account: This account type is designed for professional traders who require more advanced features and services. Demo Account: OvalX offers a demo account with plenty of virtual money, allowing new traders to practice and get accustomed to the platform before starting live trading. Please note that OvalX does not provide Islamic swap-free accounts. Customer Support. OvalX provides customer support 24/5, ensuring that clients can get the help they need whenever they need it. In conclusion, OvalX offers a comprehensive trading experience with a variety of platforms and instruments, regulated by reputable financial authorities. Whether you’re a novice trader or a seasoned professional, OvalX has the tools and services to meet your trading needs.

Can I trade Crypto with OvalX? Which crypto currencies are supported by OvalX?

OvalX, formerly known as ETX Capital, is a London-based CFD broker that has been in operation since 1965. It offers a wide range of financial securities with over 5,000 trading instruments from various asset classes, including forex, indices, shares, commodities, and cryptocurrencies. At OvalX, you can trade several different instruments, including more than 55 currencies and cryptocurrencies. However, it’s important to note that only professional clients can trade cryptocurrencies. The specific cryptocurrencies supported by OvalX are not explicitly mentioned in the search results, but one source mentions that the five basic coins are available. OvalX is heavily regulated, providing a high level of protection for its clients. It is regulated by the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). This regulation ensures that the trading environment is secure and that the interests of the traders are protected. In terms of account types, OvalX offers a live trading account, a professional account, and a demo account. The minimum deposit is $100, and the maximum leverage is 1:400. Payment methods accepted by OvalX include wire transfer, credit card or debit card, and e-wallets. It’s worth noting that OvalX has discontinued its services as of September 6, 2023. As part of their service closure, they partnered with Capital.com to allow their clients to continue trading on similar products with limited interruption. If you’re interested in trading cryptocurrencies, you might want to consider other platforms that offer this service. Please note that trading in cryptocurrencies involves risk, just like any other form of investment. It’s important to understand these risks and to trade responsibly. Always do your own research and consider seeking advice from a financial advisor before making any investment decisions.

What is the Leverage on my OvalX Trading Account?

OvalX, formerly known as ETX Capital, is a London-based CFD broker that has been in operation since 1965. It offers a variety of trading platforms, including its proprietary platform and MetaTrader 4. The leverage on your OvalX trading account depends on your classification as a trader. For retail traders, the maximum leverage offered by OvalX is 1:30. However, professional traders can execute trades with a maximum leverage of 1:200. Leverage in forex trading refers to the use of borrowed funds to increase the potential return of an investment. It allows traders to control a larger position with a smaller amount of capital. However, it’s important to note that while leverage can magnify profits, it can also amplify losses. OvalX is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. This provides a high level of protection for traders. In the unlikely event of OvalX’s bankruptcy, segregated client funds cannot be used to pay OvalX’s creditors. Eligible claimants have the right to compensation under the Financial Services Compensation Scheme (FSCS), up to £85,000, if OvalX is unable to meet repayment demands. Please note that trading involves risk and it’s important to understand the risks involved before you start trading. It’s recommended to use risk management tools and strategies to protect your capital. If you’re new to trading, OvalX offers a free demo trading account where you can practice forex trading in a 100% risk-free environment.

What kind of Spreads are offered by OvalX?

OvalX, a well-regarded financial trading platform, offers a variety of spreads that cater to different trading needs. Here’s a detailed overview:. Forex Spreads: OvalX’s spreads for forex start from as low as 0.6 pips. This is particularly relevant for currency pairs such as EUR/USD, which has an average spread of 0.81 pips. These competitive spreads can be advantageous for traders who deal in high volumes of forex trading. CFD Spreads: For Contracts for Difference (CFDs), the spreads begin from 0.5 pips. In addition, OvalX charges commissions for share trading as low as 0.1%. This makes it an attractive option for traders interested in speculating on the price movements of financial instruments. Equity Spreads: The minimum equity spreads offered by OvalX are 0.08%. This is relevant for traders who are looking to invest in the stock market and want to take advantage of small price movements. Commodity Spreads: For commodities, the spreads start from 0.025 points. This is beneficial for traders who want to speculate on the price of commodities such as gold, silver, oil, and others. It’s important to note that OvalX earns most of its revenues from spreads on currency pairs and commissions charged on CFDs. Additionally, OvalX charges the inter-bank market rate plus 1.35% annualized swap rates on overnight positions. This information is crucial for traders to understand the cost structure of their trades. Lastly, OvalX does not have any hidden fees like deposit fees or withdrawal fees. However, an inactive fee of £25 per 6 months is charged. This encourages traders to remain active on the platform. In conclusion, OvalX offers a range of competitive spreads across various financial instruments, making it a versatile platform for different types of traders. Whether you’re trading forex, CFDs, equities, or commodities, OvalX’s spreads are designed to provide you with the flexibility and cost-effectiveness you need for successful trading.

Does OvalX offer MAM Accounts or PAMM Accounts?

Forex trading platforms often offer specialized account types to cater to different needs of investors. Two such account types are MAM (Multi-Account Manager) and PAMM (Percentage Allocation Management Module) accounts. These accounts allow fund managers to manage multiple accounts from a single account without having to create an investment fund. However, as of my last update in 2021, and based on the information available, it appears that OvalX has discontinued its services. They have partnered with Capital.com to allow their clients to continue trading on similar products with limited interruption. Therefore, it would be advisable to check with Capital.com regarding the availability of MAM or PAMM accounts. For a better understanding, let’s delve into what MAM and PAMM accounts are:. MAM Accounts: A MAM account allows a professional trader to manage multiple client accounts from a single master account. The master account is controlled by the trader, and is linked to several sub-accounts, each owned and controlled by a different individual investor. The funds of the investors are pooled together and managed by the trader. The manager can allocate trades and manage risk on the master account. As the trader executes trades in the master account, the same trades are automatically replicated on the individual sub-accounts according to the allocation percentage. PAMM Accounts: A PAMM account is a type of investment account offered by some forex brokers, which allows retail investors to allocate their funds to be managed by experienced traders. An investor deposits funds into a PAMM account, which are then pooled together with funds from other investor accounts. The appointed trader or investment manager then makes investment decisions on behalf of the group. Each investor’s share in the account is proportional to the size of their investment, and the profits or losses are distributed accordingly. . Both MAM and PAMM accounts provide a way for investors to benefit from the forex market without needing to make trades themselves. However, they also carry the risks of capital loss, based on a money manager’s performance. It’s important to note that the availability and specifics of these account types can vary between different forex trading platforms. Therefore, it’s always recommended to check directly with the platform for the most accurate and up-to-date information.

Does OvalX allow Expert Advisors?

OvalX is a trading platform that offers a wide range of financial instruments to its users. However, it does not support the use of Expert Advisors. Expert Advisors (EAs) are automated trading systems that operate within the MetaTrader platform. They are designed to implement advanced strategies without the need for manual intervention. EAs are particularly popular among Forex traders, as they can analyze market conditions and place trades 24/7, potentially increasing trading efficiency and profitability. However, OvalX does not offer the MetaTrader 5 (MT5) trading platform. , which is commonly associated with the use of Expert Advisors. Instead, OvalX provides its own proprietary trading platform. This platform allows users to trade Forex, among other assets. , but does not support algorithmic trading via Expert Advisors. While the lack of Expert Advisor support might be a drawback for some traders, it’s important to note that automated trading systems like EAs come with their own risks and challenges. They require careful setup and monitoring to ensure they’re operating as intended, and they can lead to significant losses if not managed properly. In conclusion, while OvalX offers a robust trading platform with a wide range of features, it does not currently support the use of Expert Advisors for automated trading. Traders who rely heavily on EAs may need to consider other platforms that support this functionality. However, for those who prefer manual trading or who are willing to adapt to a different trading system, OvalX remains a viable option.