Oval Capital Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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They are a fraud since I started investing with them before the end of last year, and now that I've been trying to withdraw money from them for more than a month, I keep getting the same response and no money.
Summary: The overall assessment of Oval Capital reveals a mixed reputation among users and experts alike. While the broker offers a diverse range of trading instruments and flexible platforms, concerns regarding regulatory oversight and transparency about trading costs persist. Users appreciate the availability of educational resources, but many express unease about the lack of regulation.
Note: It's crucial to recognize that Oval Capital operates under different entities across regions, which can affect user experience and regulatory protections. This review aims for fairness and accuracy by synthesizing insights from various sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Overall | 5.5 |
How We Rated the Broker: Our ratings are based on user feedback, expert opinions, and factual data regarding the services offered by Oval Capital.
Founded in 2014 and headquartered in Hong Kong, Oval Capital is a trading broker that provides access to a wide range of financial instruments, including forex, CFDs, metals, cryptocurrencies, and equities. The broker supports various trading platforms, notably MetaTrader 4 (MT4) and its proprietary Oval Capital app, catering to traders with different preferences. However, a significant point of concern is the absence of regulatory oversight, as the broker is not governed by any recognized financial authority, raising questions about the safety of user funds.
Oval Capital operates without any formal regulatory oversight, which poses a significant risk for traders. The lack of regulation can lead to potential issues regarding the safety of client funds and overall trustworthiness. Users are advised to proceed with caution when engaging with an unregulated broker.
The broker offers various payment methods, including Visa, Mastercard, and local bank transfers, although it lacks support for e-wallets and cryptocurrencies for deposits. The minimum deposit requirement is not explicitly stated, which can be a drawback for potential clients looking for clarity.
While the exact minimum deposit is not specified, user reviews indicate that it may be relatively low, attracting beginner traders. However, this vagueness can lead to confusion and uncertainty about the initial investment required to start trading.
There are no current promotions or bonuses offered by Oval Capital, which is in line with many regulated brokers that adhere to stricter guidelines. The absence of bonuses may deter some traders who look for incentives to join a platform.
Oval Capital provides access to a wide range of trading instruments, including forex pairs, CFDs on commodities and stocks, and cryptocurrencies. This variety allows traders to diversify their portfolios, although the absence of traditional asset classes such as ETFs may limit some investors.
The broker's trading costs are generally considered average, with spreads starting at around 0.6 pips for major currency pairs. However, concerns about hidden fees and lack of transparency regarding commissions have been noted in user reviews, leading to dissatisfaction among traders.
Oval Capital offers a maximum leverage of 1:200, which can be appealing for traders looking to amplify their potential returns. However, the high leverage also increases the risk of significant losses, making it crucial for traders to manage their risk effectively.
Traders can access Oval Capital through MT4 and the proprietary Oval Capital app. While MT4 is a widely recognized platform with a plethora of features, some users have reported issues with the proprietary app, including glitches and connectivity problems.
Oval Capital does not accept clients from certain regions, including the United States, which limits its accessibility for some traders. This restriction can be a significant drawback for potential clients looking for a broker that serves a global audience.
Customer support is available primarily in English, which may pose a challenge for non-English speaking traders. Additionally, the support hours are limited, with no 24/7 assistance, which can be a disadvantage for traders operating in different time zones.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Overall | 5.5 |
Account Conditions (6/10): The lack of clarity regarding minimum deposit requirements and account types can be a significant drawback for users. A more transparent structure would enhance user confidence.
Tools and Resources (7/10): Oval Capital offers several educational materials, which are beneficial for new traders. However, the platform could improve its research offerings and trading tools.
Customer Service and Support (5/10): The customer support experience has been mixed, with reports of slow response times and limited availability. This can be frustrating for users requiring immediate assistance.
Trading Setup (6/10): The trading experience is generally positive, with a variety of instruments available. However, the lack of regulation raises concerns about the overall safety of trading with this broker.
Trustworthiness (4/10): The absence of regulatory oversight is a significant concern. Users should be cautious and conduct thorough research before investing.
User Experience (5/10): While the trading platforms are user-friendly, technical issues have been reported, which can detract from the overall experience.
In conclusion, while Oval Capital offers a wide range of trading instruments and educational resources, the lack of regulatory oversight and transparency regarding costs are significant drawbacks. Potential traders should carefully consider these factors before deciding to engage with this broker.
