OvalX Review

Minimum Deposit: $100 VISIT BROKER
70.80% of retail investor accounts lose money when spread betting or trading CFDs with OvalX.

Monecor London Ltd., the parent company of OvalX, was established in 1965, and the company specialised in Mortgage Bonds before diversifying into Stocks and Derivatives. Monecor Ltd. is listed on London Stock Exchange. In 2002, the company developed TradIndex, a retail derivatives arm, which was eventually renamed OvalX, for the services of electronic trading, and execution. OvalX is authorised and regulated by tier-1 regulatory authority FCA in the UK and FSCA in South Africa.

OvalX offers a wide range of financial securities. It’s worth noting that the broker offers over 5000 trading instruments from various asset classes, including forex, indices, shares, cryptocurrencies, commodities and, bonds & interest rates. In addition, OvalX provides minimal trading costs with an option to trade commission-free stocks.

OvalX has an arsenal of trading tools. The broker offers multiple trading platforms: ETX Trader and MetaTrader 4 in various environments. In addition, the broker provides valuable trading tools and educational resources, including market analysis, guides and webinars.

Let’s go through the advantages and disadvantages of OvalX.

8Expert Score
OvalX Rating

OvalX is a licenced broker with headquarters in the United Kingdom. Clients from all around the world can trade over 5,000 trading instruments on the MetaTrader 4 and ETX TraderPro platforms. They do not provide managed accounts, social trading tools, or expert market analysis.

Investment Products
Commissions and Fees
Platforms and Tools
Research and Education
Deposit and Withdrawal

OvalX Review

Pros and Cons

OvalX has the expertise of over 50 years in providing trading services and is regulated by FCA. The parent company is a public company, and its stocks are traded on LSE. The broker offers 5000+ trading instruments from forex and CFDs of popular asset classes. Tight spreads and low commissions also help traders make use of them. On top of that, OvalX has an option of commission-free stock trading. In addition, OvalX offers multiple payment options and free deposits or withdrawals. Moreover, the broker offers cash rebates. OvalX provides a ton of educational and research resources.

On the other hand, the broker requires a minimum deposit of $100. The broker does not offer dedicated research tools such as Trading Central and AutoChartist. In addition, the broker does not provide its services to many countries, such as the US. Moreover, the broker does not offer swap-free accounts. Lastly, OvalX does not offer social trading and copy trading services.

  • FCA regulated broker
  • Cutting edge platforms
  • 5,000+ markets
  • Various payment methods
  • Tight spreads and low commissions
  • Training from financial experts
  • Rebates
  • Demo account
  • Trading tools
  • Market analysis
  • Seminars, tutorial videos, user guides and manuals
  • Pro Clients
  • Free deposit and withdrawal
  • Commission-free stock trading
  • Parent company listed on LSE
  • Financial information available
  • 24/5 customer support
  • Clients from the USA are not accepted
  • No in-depth analysis
  • Limited trading tools
  • Market maker broker
  • $100 minimum deposit
  • Limited account options
  • No negative balance protection
  • No banking licence
  • No 24/7 customer support
  • No VPS service
  • No Islamic swap-free accounts
  • Not the lowest spreads

OvalX Review

Investment Products

OvalX has a massive collection of markets and products. The broker offers 5000+ trading instruments from multiple asset classes, including forex, CFDs, cryptocurrencies, commodities, indices, stocks and bonds. However, the broker does not offer options and ETFs.

OvalX Instruments Summary

OvalX Instruments

OvalX Review

Commission and Fees

Commission and Spread Fees

OvalX offers two types of accounts with respect to two trading platforms. So there is a separate account for each trading platform. Trading costs vary from one platform to another. Here is a summary of the trading costs.

FeeETX Trader ProMT4
Commission (per standard lot per side)$0$0
Spreads from0.60.8
OvalX Fees

Deposit and Withdrawal Fees

OvalX does not charge any fee for processing funds in or out of the trading account.

Inactivity Fees

OvalX does not charge any fee for inactive or dormant accounts.

OvalX Review

Platforms and Tools

OvalX facilitates trading activities via two trading platforms. The clients may choose the proprietary ETX Trader Pro for the advanced and lucrative look of the platform with additional features. Or else, they can choose the simplicity of the most popular MT4 trading platform. Unfortunately, the broker does not offer trading tools, including VPS hosting. Let’s go through each trading platform.

ETX TraderPro

Trade on a platform that, via integrated platform features, comprehensive research tools, and a robust charting package, enables professional traders to remain ahead of financial markets. With strong tools developed with the newest technology, the upgraded charting package allows you to take advantage of any trade opportunity. Trade your preferred market using a variety of professional chart formats. Choose from eight different layouts, including the Classic Candlestick, Heikin Ashi, and Ichimoku Cloud. Multiple charts for the same market can be viewed in a single workspace. Set distinct indicators for each of up to eight time intervals. You can rapidly access trade tickets by right-clicking anywhere on the chart, allowing you to open positions immediately from the chart. Over 60 trend-following and momentum indicators, including Bollinger Bands, Stochastics, and the Moving Average Convergence Divergence, are available (MACD). To assist draw locations, drawing lines, measuring angles, and creating on-chart notes. Use Fibonacci tools to do additional analysis and uncover hidden trade possibilities. The simple trade tickets allow you to easily specify stops and limits, allowing you to quantify your risk ahead of execution. The broker also provides free award-winning education on risk strategy and position sizing to help you manage risk properly on every transaction. Save and switch between up to 10 workspaces to personalise your TraderPro experience. Drag and drop charts to focus on certain markets, time ranges, or holdings, and build personalised watchlists.

ETX TraderPro Platform
ETX TraderPro Platform

ETX TraderPro App

TraderPro is available for both iOS and Android, so you can make use of all of its features no matter where you are. Trade with updated charting that has been specifically designed to improve the smartphone experience. With the interactive charts, you can easily analyse the markets. Open tickets and trades immediately from the charts. To improve your trading experience, customise your charts and compare up to eight different markets at once.

ETX TraderPro App
ETX TraderPro App

With the extensive collection of technical indicators, you can thoroughly examine any market. With adjustable position sizing and numerous order types, you can better control your risk. It’s never been easier to traverse the markets thanks to user-friendly interfaces and in-app interactions. Create a trading environment that is personalised to your objectives, with all of your favourite markets available for trading. Trade with smooth interchangeability between desktop and mobile devices, as all devices are in constant synchronisation. Browse the marketplaces with no lag, on dependable software you can trust. Get the price you want, when you want it, and never be caught off guard by price increases. Using fingerprint or facial recognition, you may easily and securely access your account. With direct help from within the software, you can learn about all of the capabilities and completely comprehend TraderPro.

ETX Connect App

Enjoy a novel, socially enhanced trading experience. Chat with other members of the community, follow others, and mimic the deals of expert traders. Enter the new world of social trading and interact with a larger community of traders from over 15 major brokers worldwide. Participate in the community by communicating with other traders, imitating other users’ moves, and watching the portfolios of thousands of network members. Your current MT4 account will be immediately synchronised from inside the ETX Connect app once downloaded. Simply log in as usual to see all of your preferences and trades waiting for you. When opening or completing a transaction using ETX Connect, you’ll get the same quick execution you’d get from the desktop and conventional MT4 app. Trade markets from the palm of your hand, anywhere in the world. Never miss another chance again with 24-hour trading. Chat with traders one-on-one and join group conversations of like-minded individuals to see pertinent topics. Analyze the markets using a comprehensive suite of technical indicators and analytical tools to find your next trading opportunity. ETX Connect, like the broker’s other trading services, is completely free. However, you will still be subject to the industry-wide trading charges that every broker imposes on transactions in order to pay the expenses of executing orders.

ETX Connect App
ETX Connect App

It’s worth noting that past performances do not promise a profitable future. So, it is better to do some due diligence before investing in anyone else’s portfolio.

OvalX MT4

In the forex and CFD trading industries, this is the most extensively utilised online trading platform. Millions of MT4 software programmes, indicators, trading robots, and other tools are now in use. This makes it tough for many traders to forsake the MT4 platform; as a result, most brokers provide MT4 in order to attract more clients. As a result, MT4 has become an unofficial standard among online trading companies. In addition to its easy layout and user-friendliness, the platform is packed with useful features for in-depth chart research and trading. The OvalX MT4 platform is accessible as downloaded desktop software for Windows and MAC, as well as mobile apps for Android and iOS devices. Here are some of the platform’s primary features:

  • OvalX is designed for speed, with 94 percent of deals completed in less than 30 milliseconds.
  • It is available in over 35 different languages.
  • Supports strategy automation via the use of software expert advisers (EAs).
  • Back testing EAs on previous price data with a strategy tester.
  • In the market watch window, all of the instruments’ purchasing and selling prices are displayed in real time.
  • Price notifications may be customised and delivered through SMS, email, or popups.
  • One-click trading and trading right from the charts are supported.
  • Charts may be shown in nine different periods.
  • For market analysis, over 30 built-in technical indicators may be added to the charts. Through the use of extension applications, this number may be expanded to thousands.
  • For technical analysis, 24 analytical tools are offered.
ETX Capital MT4 Platform
OvalX MT4 Platform

OvalX MT4 Remastered

Take your MT4 trading experience to new heights. The Connect Tab allows you to stay connected to the markets. Access market news, analysis, and the economic calendar in real-time. It is also much simpler to put dollars into your account. A new, easy-to-use method for placing pending orders. Save order templates, interactive order lines, and multi-screen support are now available. Undock your charts and observe markets like an expert. Use advanced tools to manage your trading account, establish watch-lists for your favourite symbols, construct order templates, and generate order groups for a more strategic approach to pending order management.

ETX MT4 Remastered
OvalX MT4 Remastered

OvalX Platforms Summary

MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
Social Trading
OvalX Platforms

OvalX Review

Research and Education

Every week, at least one webinar is scheduled on the OvalX website. The webinars cover a variety of trading topics, such as technical indicators, trading tactics, and how certain events impact the markets. Unfortunately, OvalX does not offer third-party research tools, including Trading Central and AutoChartist. In addition, trading ideas and economic calendars are also not present. Moreover, there are no trading calculators.


There are five eBooks that might help folks who are new to internet trading. The books include technical indicators, various markets, trading tactics, market analysis, and other subjects. The books are brief and packed with images. The longest book is around 22 pages long.

Platform Tutorials

There are eight videos on ‘platform guidelines.’ Only one video walks you through the MT4 trading platform, while the other seven-show you how to utilise the ETX TraderPro trading platform.

Trading Courses

CFDs, indices, FX, commodities, shares, cryptocurrencies, and risk management training courses are accessible on the OvalX website’s education area. Each of these courses is divided into three to four subtopics. Each subtopic is allocated an estimated reading time, skill level, and other characteristics.


A vocabulary of over 70 trade words with comprehensive definitions is supplied.

Market Analysis

The market news, comments, and analysis are the emphasis of this area of the OvalX website. It can stimulate trading ideas by providing a preview of the upcoming week, a technical roundup, and analysis of chosen economic events.

OvalX Research and Education Summary

Market Analysis
Trading Centralx
Economic Calendarx
OvalX Resources

OvalX Review

Deposit and Withdrawal

OvalX offers and accepts payments via bank transfers, debit/credit cards, and electronic payments systems. Although the broker offers crypto trading but does not offer or accept payments in cryptocurrencies. However, all the payments are processed under the same name as the name of the trading account. No third-party payments are processed.

OvalX Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
OvalX Funding Options

OvalX Review

Regulation and Safety

The parent company of OvalX, Monecor (London) Ltd, is authorised and regulated by the Financial Conduct Authority (FCA) in the UK and the South African Financial Sector Conduct Authority (FSCA).

OvalX Regulation Summary

ASIC (Australia)x
IIROC (Canada)x
CySEC (Cyprus)x
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
Other (FSCA)
OvalX Regulators

OvalX Safety

Clients’ money is kept in segregated bank accounts at Europe’s top-rated institutions. This helps to guarantee that they are not utilised for anything else, such as business operating expenses. OvalX is a company that is a member of the Financial Services Compensation Scheme (FSCS). This provides insurance for the traders’ funds.

OvalX Review

Client Support

OvalX offers 24/5 customer support during working hours via live chat, email and phone calls.

OvalX Review


OvalX is a multi-award-winning online broker that provides its clients with access to hundreds of tradable assets via flexible and sophisticated trading platforms. The brand is governed by the strict FCA and must so follow the regulatory regulations, which include account segregation, digital security, customer verification, and so on. Regulation can make potential clients feel more confident that they are dealing with a respectable brokerage business. Over 5,000 tradable assets are available on the broker’s platforms, which is amazing. ETX TraderPro has been recognised as an exceptional platform that provides vital trading tools. The MT4 platform is also extensively used and approved by forex traders all around the world.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

OvalX Review


When was OvalX founded?

OvalX was founded in 2002.

Where is OvalX located?

OvalX is located in the UK.

Is OvalX regulated?

OvalX is regualted by FCA and FSCA.

What trading instruments does OvalX offer?

OvalX offers over 5000 markets from forex, CFDs, cryptocurrencies, commodities, shares, indices, and bonds.

What is OvalX’s minimum deposit?

OvalX’s minimum deposit is $100.

What investing platforms does OvalX offer?

OvalX offers MT4 and ETX Trader Pro trading platforms.

What is OvalX’s commission fee?

OvalX offers commission-free trading as well. However, the broker’s commission fee starts from 0.1%.

Does OvalX charge an inactivity fee?

OvalX does not charge an inactivity fee.

What are OvalX’s spreads?

OvalX’s spreads start from 0.6 pips.

What funding options does OvalX offer?

OvalX has funding options of wire transfers, debit/credit cards, and e-wallets.

Does OvalX offer demo trading?

OvalX offers demo trading.

Does OvalX offer Islamic accounts?

Unfortunately, OvalX does not offer swap-free Islamic accounts.

How do I contact OvalX customer support?

OvalX’s customer support can be contacted 24/5 during working hours via live chat, phone, and email.
OvalX Review
OvalX Review
Minimum Deposit: $100
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.