OvalX Review

OvalX Logo

OvalX is a UK based online broker that offers CFD trading services to their over 55,000 clients from all over the world. They also offer spread betting to their U.K. clients. Launched in 2002 and initially known as TradIndex, the broker is the trading arm of Monecor Ltd – a financial investment firm founded in London in 1965, which is a member of the London stock exchange.

They offer their clients over 5000 trading instruments across various asset classes, including Forex, commodities, cryptocurrency, stocks, shares, and bonds, for online trading via cutting edge platforms. They have won several industry awards in honor of their unique brokerage services, including the “Best Forex Educators” award at the 2017 UK Forex award and the “Best Spread Betting Platform” award at the International Financial Awards in 2018.

OvalX Platforms & Tools

OvalX Review - TraderPro Platform
OvalX Review – TraderPro Platform

The broker provides their traders with their own proprietary trading platform called ETX TraderPro and the MT4 platform, which is considered the gold standard among online trading brokers. The ETX TraderPro runs across all operating systems and has useful market analysis and trading tools.

OvalX Review - MT4 Trading Platform
OvalX Review – MT4 Trading Platform

Both platforms have non-installable web trading terminals, as well as Android and iOS apps, which can be downloaded from relevant app stores and help clients to trade on the go from anywhere in the world, provided they have an internet connection. There is a market analysis section on the broker’s website.

OvalX Research & Education

There is also an education section on the broker website where they provide their clients with relevant educational resources, such as weekly webinars, ebooks, and detailed tutorial videos, to help improve their online trading skills.

OvalX Trading Accounts

OvalX offers two types of accounts, which are platform-dependent. They are as follows:

  • ETX Trader Pro account: This account gives access to trade on OvalX’s proprietary trading platform. The average spread for the EURUSD is 0.81 pips.
  • MT4 Account: The average spread on the MT4 account is 1.01 pips for the benchmark EURUSD. This account is for traders who choose to trade on the popular MT4 platform. All strategies are allowed including scalping, hedging, and automated trading using EAs.

Demo accounts are offered on both platforms. Inactivity fees of £25 are charged from accounts that have been dormant for 6 months and above.

OvalX Account Funding

The broker does not charge a commission on deposits and withdrawals. The following payment options are accepted:

  • Bank wire transfer
  • Giro Pay and SOFORT: These methods of online bank transfers are accepted for deposits.
  • Credit and Debit cards.
  • Online Payments: The online payment methods accepted by OvalX are Skrill, Neteller, and China Union Pay.

The processing time of transactions depends on the payment method used and the location of transactions in the case of bank wire transfer.

OvalX Customer Service

The OvalX customer service team works from 7:30 am to 9:00 pm, Mondays to Fridays. The team can be reached on various phone numbers and emails. On social media, OvalX is on Facebook, Twitter, LinkedIn, and YouTube.

OvalX Regulation

The parent company of OvalX, Monecor (London) Ltd, is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the Financial Services Registration Number is 124721.

OvalX Review Summary

OvalX is a multiple award-winning online broker that offers over 5000 tradable assets to its clients via flexible & sophisticated trading platforms. They offer clients multiple payment options to fund their OvalX Accounts.














  • Powerful and flexible trading platforms
  • Over 5000 trading instruments
  • A selection of trading tools
  • Multiple payment options