ETX

ETX Capital, now operating under the brand Oval X, is a UK-based broker founded in November 2017. The company is a trading name of Monecor (London) Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) with reference number 124721. It also claims membership in the London Stock Exchange. The broker primarily serves retail and experienced traders looking for CFDs on forex, indices, commodities, and other instruments.

ETX Capital holds an FCA licence (no. 124721) for Market Making (MM) activities in the United Kingdom. This provides a layer of regulatory oversight, including client money segregation and access to the Financial Ombudsman Service and FSCS protection (up to £85,000). However, the company has been flagged as a suspicious clone in some industry databases, meaning that while the FCA registration exists, the entity operating the brand may not be the same as the regulated firm. Traders are advised to verify the broker's details directly with the FCA register.

ETX Capital offers several account types, including a demo account for practice and a live account with access to a web-based platform, mobile apps for iOS and Android, and the Traderpro platform (likely a third-party solution). The minimum trade size can be as low as 0.01 of a contract, allowing beginners to trade with small risk. Leverage levels are not specified in the provided data, but FCA rules limit retail client leverage to a maximum of 30:1 for major forex pairs.

The broker provides a range of CFD instruments covering indices (e.g., UK100, GER40), commodities (e.g., gold, oil), forex pairs, and possibly shares. Spreads are described by users as competitive, though exact figures are not disclosed in the data. Some negative reviews mention hidden fees, including a £25 per month dormancy charge on inactive accounts.

ETX Capital accepts deposits via bank transfer, credit/debit cards, and likely e-wallets, though specific methods are not listed. Withdrawals are generally processed quickly according to positive reviews, but a significant number of negative reports detail delays, requests for outdated documents, and funds being locked for extended periods. Traders should be aware of potential KYC hurdles and dormancy fees before committing large sums.

The broker offers customer support via phone and email, with dedicated account managers assigned to many clients. Free educational resources include training videos, a daily market report, and regular alerts. However, some users report slow or unhelpful responses from support, particularly regarding withdrawal issues.

ETX Capital is best suited for traders who value a personal account manager and a straightforward platform with low minimum trade sizes. It may appeal to beginners looking for a regulated broker, though the clone status and withdrawal complaints make it less ideal for those prioritizing fund security above all else. Experienced traders may find the FCA regulation reassuring, but should exercise caution with larger deposits.