OvalX Company

OvalX Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

OvalX, formerly known as ETX Capital, was founded in 1965 under the name Dus Rol Graph Ltd. It has since evolved into a significant player in the online trading industry, specializing in Contracts for Difference (CFDs) and financial spread betting. The company has a long-standing reputation for providing trading services primarily to clients in the UK and Europe.

Parent Company/Ownership Structure

OvalX operates under the ownership of Monecor Ltd, which is the parent company managing its various trading platforms and services. The company underwent a rebranding from ETX Capital to OvalX in May 2022 to better represent its offerings and market presence.

Headquarters Location

The headquarters of OvalX is located in London, United Kingdom. This central location allows the company to be well-positioned within one of the world's leading financial hubs.

Global Business Scope

OvalX primarily serves clients in the UK and Europe but has also extended its services to other regions, including parts of Asia and Africa. The broker has gained a reputation for catering to both retail and professional traders.

Main Regulatory Bodies

OvalX is regulated by several top-tier financial authorities, including:

• Financial Conduct Authority (FCA), UK
• Cyprus Securities and Exchange Commission (CySEC), Cyprus
• Financial Sector Conduct Authority (FSCA), South Africa

These regulatory bodies ensure that OvalX adheres to strict operational standards, providing a level of security and trust for its clients.

2. Company History and Development

Key Milestones

• 1965: Founded as Dus Rol Graph Ltd.
• 1973: Renamed to Monecor.
• 2021: Acquired ETX Capital and rebranded to OvalX in 2022.
• 2023: Announced winding down operations and partnered with Capital.com for client transitions.

Business Expansion Journey

Over the years, OvalX has expanded its trading services to include a wide range of financial instruments, adapting to market demands and technological advancements. The company has developed proprietary trading platforms to enhance user experience and increase trading efficiency.

Customer Base Growth

OvalX has seen steady growth in its customer base, particularly among retail traders looking for accessible trading options. The company has focused on providing educational resources and customer support to attract and retain clients.

Platform Development History

OvalX offers two primary trading platforms: its proprietary platform and the widely-used MetaTrader 4 (MT4). The proprietary platform was designed to meet the needs of both novice and experienced traders, featuring advanced charting tools and a user-friendly interface.

Important Awards or Recognitions Received

Throughout its history, OvalX has received several industry awards, including:

• Best Trading Tools (2019) at the Online Personal Wealth Awards
• Best Mobile/Tablet Application (2020) at the Shares Awards
• Best Online Trading Platform (2018) at Shares Magazine

These accolades highlight OvalX's commitment to providing quality trading services and innovative solutions.

3. Trading Services Offered

Forex Trading Options

OvalX offers a robust selection of forex trading options, including more than 55 currency pairs. This diverse range allows traders to engage in both major and minor currency pairs, providing ample opportunities for speculation.

Stock Trading Options

Traders at OvalX can access stock trading through CFDs, enabling them to speculate on the price movements of various publicly traded companies without owning the underlying assets.

CFD Trading Products

OvalX specializes in CFD trading, providing access to a variety of markets, including indices, commodities, and shares. This allows traders to leverage their positions and potentially enhance returns.

Other Financial Instruments

In addition to forex and stock CFDs, OvalX offers trading in:

• Cryptocurrencies: Available only to professional clients, including popular options like Bitcoin and Ethereum.
• Commodities: Traders can speculate on the price movements of commodities such as gold, silver, and oil.

Special Services or Unique Advantages

OvalX provides several unique advantages, including:

• A dedicated demo account for practice trading.
• Educational resources, including webinars and trading guides, to support traders at all levels.
• Competitive spreads starting from 0.6 pips for forex trading.

4. Regulatory and Legal Background

Detailed Regulatory Information

OvalX operates under the regulation of:

• FCA: Ensures strict compliance with financial regulations in the UK.
• CySEC: Regulates operations in Cyprus, providing additional oversight.
• FSCA: Oversees activities in South Africa, ensuring adherence to local laws.

Legal Entity Structure by Region

• Monecor (London) Ltd: Regulated by the FCA in the UK.
• Monecor (Europe) Ltd: Regulated by CySEC in Cyprus.
• Monecor Ltd: Regulated by FSCA in South Africa.

Client Fund Protection Measures

OvalX employs several client fund protection measures, including:

• Segregated Accounts: Client funds are held in separate accounts to prevent misuse.
• Compensation Schemes: Clients are eligible for compensation under the Financial Services Compensation Scheme (FSCS) in the UK, up to £85,000.

Countries/Regions Served

OvalX primarily serves clients in the UK and Europe, with limited access to traders in other regions. However, it does not accept clients from the United States, Canada, and certain other jurisdictions.

Compliance History

OvalX has maintained a strong compliance record, adhering to the regulations set forth by its governing bodies. This commitment to compliance has fostered trust among its clientele.

5. Competitive Landscape

3-5 Main Competitors

• IG Group: A leading online trading platform offering a wide range of financial instruments.
• CMC Markets: Known for its competitive spreads and advanced trading platforms.
• Saxo Bank: Offers a comprehensive suite of trading services, including forex, stocks, and CFDs.

Positioning in the Industry

OvalX positions itself as a reliable broker with a long history and a focus on providing quality trading services. Its regulatory status and range of trading options make it a competitive choice for traders.

Market Differentiation Factors

OvalX differentiates itself through:

• A strong emphasis on regulatory compliance and client fund protection.
• A user-friendly trading platform with advanced tools and resources.
• A commitment to customer education and support.

For more information about OvalX and its trading services, learn more.

For additional inquiries or to explore trading options, please visit the official OvalX website.