Forex Broker AE

OvalX Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?

OvalX - UK broker that has a decent reputation among Arab investors.

Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.

ETX Capital has changed its name to OvalX.

OvalX has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.

OvalX, situated in London, has established itself as one of the best online brokers in the sector. All sorts of merchants may benefit from the company's personalised, tailor-made help. The company's award-winning technology also provides you with access to commodities and stock trading in a wide range of assets throughout the globe.

When it comes to trading options, OvalX provides a plethora of possibilities, including a selection of trading platforms and a diverse range of tradable assets. In addition, the company provides corporate financial services. Additional information is provided below.

OvalX offers forex trading platforms on both desktop and mobile devices, as well as CFD and spread betting, as well as a copy trading app. OvalX is headquartered in New York City. Continue reading for information on the platforms that are supported by the broker.

The ETX TraderPro trading platform provides you with access to sophisticated trading tools such as a comprehensive charting package, among other things. With strong technical analysis tools driven by cutting-edge technology, you can take advantage of trade opportunities in real time and maximise your profit margins.

Along with comprehensive technical indicators and sketching tools, you will be able to trade right from the charts, which comprise eight traditional layouts in total. Drawing conventional candlestick or Heikin-Ashi charts, for example, and then putting popular indicators such as the Ichimoku Cloud collection on top of them may be quite effective.

Additionally, the TraderPro platform has dynamic risk management, which enables you to assess your risk before opening a position on a particular asset. This tool simplifies the process of setting limits and stop losses, allowing you to more efficiently control your risk on each trade you enter. You may also personalise up to ten separate workspaces, each of which allows you to drag and drop charts and build customised watchlists. The platform is accessible for use on desktop computers, tablets, and mobile devices running iOS and Android.

Tweets by OvalXtrading Following and copying other traders is possible using the OvalX Connect App. In the copy trading app, you can follow traders from more than 15 major brokerages and duplicate their trades into your own account. You may follow traders from more than 15 major brokerages. A chat room and a group area are also included in the programme. Due to the fact that this social function is not accessible on ETX's TraderPro platform, you will need to utilise the MT4 platform in order to take advantage of this feature.

If you prefer to trade using the widely popular MetaTrader4 (MT4) trading platform, perhaps to take advantage of its automation features and expert advisors, ETX supports the MT4 desktop, web, and mobile app platforms, all of which have extremely fast execution times of around 30 milliseconds on average. Additionally, ETX provides a virtual private server (VPS) that is placed in close proximity to its MT4 servers, allowing you to keep your trading robots active in the markets even when your computer is switched off. Another feature of MT4 is the Trading Signals tool, which enables you to automatically duplicate other traders' transactions into your own account after examining and comparing their track records.

The asset classes in which OvalX enables its customers to trade are listed below in alphabetical order.

Forex: At OvalX, currency traders have access to 60 forex pairings, which comprise majors, minors, and exotic currencies, among other things. You may assess and execute transactions in real time using the outstanding trading tools provided by the brokerage. You may even use MT4 to automate your trading transactions.

FX and CFD Trading: Through OvalX, you may trade CFDs on a broad range of tradable assets, including forex currency pairs, indices, stocks, cryptocurrencies and commodities. OvalX also offers binary options trading. You have the option of using leverage and opening either short or long trades. Another benefit of trading CFDs in the United Kingdom is that there is no stamp duty to pay. Aside from that, CFDs provide an excellent tool for investors to hedge and counter other positions in the financial markets, such as genuine stock ownership.

Indexes: You may trade more than 20 stock indices from key equity markets in Europe, the United States, the United Kingdom, and Asia with OvalX. For key indices such as the FTSE 100, DAX 30, Dow Jones, and NASDAQ Composite, dealing spreads as low as 1 point are available. You can also sign up to have relevant news and commentary sent to your email on a regular basis.

Shares: At OvalX, you may trade CFDs on stocks without having to pay any fees. Companies with publicly traded stock options include: Tesla, Amazon, Apple, Rolls-Royce, Facebook, Riot Blockchain, Royal Dutch Shell, Moderna, NIO, Alibaba, and (NASDAQ: AMZN). Privately held stocks with publicly traded stock options include Tesla, Amazon, Apple, Rolls-Royce, Rolls-Royce, Facebook, Riot Blockchain, NIO, Alibaba, and (NASDAQ: AMZN) (NYSE: BABA). Because the minimum transaction size for share CFDs is 0.1, you may get started trading with a little sum of money and work your way up.

Contracts for difference (CFDs): OvalX enables traders to trade in a variety of commodities including metal commodities such as gold, silver, copper, palladium, and platinum, as well as energy commodities such as Brent and Nymex crude oils. Soft commodities such as sugar, coffee, wheat, soybeans, and soybean oil are also available for trading. Some commodities have different trading hours than others, and some are more volatile than others.

Cryptocurrencies: CFDs on cryptocurrencies such as Bitcoin, Litecoin, Ripple, Ethereum, and Bitcoin Cash are available for trading. Dealing spreads for cryptocurrencies differ based on the cryptocurrency in question and whether you want to trade it against the United States dollar or the United Kingdom pound. Cryptocurrency is only accessible for professional accounts for customers in the United Kingdom.

Investing in spread betting: Since its establishment, OvalX has been a spread-betting broker, and in 2019 and 2020, the company was awarded the ADVFN International Financial Awards medal for best spread-betting broker. If you're not acquainted with spread betting, it's a form of gamble on the result of an event that, unlike a fixed-odds wager, pays out according to how accurate the spread bettor is at guessing the outcome of the event. Spread bets are free from both capital gains tax and stamp duty in the United Kingdom (UK). OvalX provides competitive spreads on a wide range of currency pairs and key indexes.

As a member of the London Stock Exchange, OvalX provides corporate brokerage and financial services to businesses (LSE). Additionally, the firm can assist with debt restructuring, buyouts, acquisitions, and growth capital financings, in addition to raising funds on the London Stock Exchange (LSE). In addition to providing direct access to international initial public offerings (IPOs) and secondary placings, OvalX's corporate brokerage service is available in the United Kingdom and across the world.

During the trading week, which runs from Sunday at 9:30 p.m. to Friday at 10:00 p.m., you may reach out to OvalX's customer support representatives at any time of day or night. Greenwich Mean Time (GMT) is the time zone in which Greenwich, England, is located (GMT). Customers with established accounts may contact customer service representatives or the OvalX trading desk directly.

New customers may contact the company through a toll-free number in the United Kingdom or a direct line to the new accounts office, which is open from 8 a.m. to 6 p.m. GMT Monday through Friday.

Both offices may be contacted by email, or by normal mail to the London office if the need arises. Support is also available via a live chat function and Facebook Messenger, according to the broker.

OvalX provides competitive pricing across the board. To see OvalX's complete commission and fee schedule for all of its tradable assets, please visit their website by clicking here. Simply choose the trading platform that you want to use to see all of the tradable assets that are accessible, as well as the trading expenses and margin requirements that are connected with them. There is a significant benefit to trading share CFDs with OvalX in that there are no commission fees on the top 250 stock CFDS traded with the company. In addition, the inactivity charge has been eliminated at OvalX.

The TraderPro mobile application is available for download on both iOS and Android platforms. The mobile version of the platform precisely emulates the desktop version of the platform and interfaces with the desktop version without any issues. The mobile version has sophisticated charting capabilities as well as the majority of the features seen in the desktop version.

A mobile version of the MT4 platform is also available for Android and iOS devices, and it has all of the same functionality as the desktop version. Both the TraderPro and the MT4 apps are available for download from the Apple Store for iOS devices and the Google Play store for Android devices, as described above.

OvalX provides customers with two good trading platforms, exceptional customer support, and the ability to trade in a variety of different marketplaces. Aside from that, new traders may benefit from the vast instructional resources made available by the broker.

Furthermore, the TraderPro and MT4 platforms are simple to use and can be picked up quickly by even the most inexperienced traders. Both systems allow traders to trade straight from charts, as well as from a broad range of technical indicators and a number of customisable workspaces.

If you want to delegate your trading choices to others, either the ETX Connect App or MT4's Trading Signals service will enable you to follow and mimic the actions of top traders.

OvalX provides you with access to markets all over the globe and the ability to trade a variety of assets, including FX currency pairs, CFDs on commodities, indices, stocks, and cryptocurrencies. This provides you with a wide range of marketable assets to choose from.

Aside from that, the simple and straightforward structure of the broker's two supported trading platforms, as well as its copy trading app, provides a fantastic trading experience for the user. The MT4 remastered app, which allows for automation as well as access to a tiny terminal, contributes to the sustainability of the MT4 platform.

You can access complex capabilities like charting and research using the TraderPro software's well-designed user interface. As an added convenience, if you have any queries about your trade or the trading platforms, you may contact OvalX's customer support service, which is available around the clock throughout the trading week.

OvalX's financial performance in comparison to its rivals is relatively favourable. In addition to offering outstanding trading tools and quick executions, the well-established broker also provides spread betting, copy trading, as well as extensive instructional and research resources.

OvalX has also outperformed its competition by winning a slew of industry accolades. In addition, there are awards for the best online trading platform, the best spread betting provider/platform and the best support. There are also awards for the best trading education.

A number of major financial companies have recognised the broker, including ADFN International Financial Awards, Shares Award, Online Personal Wealth Award, Professional Trader Award, and the United Kingdom Forex Awards, amongst others.

Because of its great trading platforms, instructional materials, pricing, and transaction executions, OvalX has earned a solid 4.5 overall rating from the Better Business Bureau. Access to copy trading and spread-betting services are also provided by the brokerage firm. To get a better sense of whether ETX Capital would be a good match for you or your organisation, the broker provides a free trial account that allows you to test out its platforms and other features before signing up.

The practise of scalping is not permitted in OvalX trading accounts. Additionally, OvalX does not provide accounts with electronic communication networks (ECNs) that would allow for scalping.

While OvalX has a long history in the forex markets and provides excellent customer service, the company has struggled to stay up with the industry's leaders when it comes to trading platforms, trading tools, and market research.

OvalX, which was established in 1965, is licenced in one tier-1 jurisdiction, making it a safe broker (low-risk) for FX and CFDs trading on a global scale.

OvalX is known for providing excellent customer service. In our nationwide testing in 2020, which included participants from throughout the United Kingdom, the broker placed second (out of 22).

Use of the OvalX Trader Pro platform (rather than the traditional MT4) is recommended for traders seeking the narrowest spreads and the broadest choice of tradeable symbols (over 6000). Unfortunately, both the trading tools and the market research in Trader Pro are lacking in detail.

The financial conduct authority (also known as the Financial Conduct Authority) has granted OvalX permission to operate (FCA).

Notably, there are approximately 6000 markets to trade on Trader Pro, including single stock CFDs, as opposed to the fewer than 200 markets available on the ETX Capital MT4 platform.

However, although traders on MT4 may find restrictions on the maximum trade size per order, OvalX's trading desk may execute higher orders over the phone at no additional charge, and the maximum allowable order size is shown for each instrument inside the platform.

Cryptocurrency trading is offered via contracts for difference (CFDs), but it is not available by trading the underlying asset itself (e.g. buying Bitcoin). Please keep in mind that cryptocurrency CFDs are not accessible to retail traders from any broker's UK company, nor are they available to residents of the United Kingdom.

When it comes to its forex pairings, OvalX provides commission-free pricing across all platforms, including mobile. So the bid/ask spread shows the cost of trading and will vary based on the trading platform that is used. When comparing spreads on the Trader Pro platform to those on the MetaTrader platform, the price on Trader Pro is superior.

In May 2018, according to data supplied by OvalX, the EUR/USD currency pair had an average spread of 1.01 pips on the MT4 trading platform. Meanwhile, average spreads on the Trader Pro platform for the same pair were 0.81 pips narrower over the same time, indicating a tighter market.

Included exchange data: When trading single-stock CFDs across worldwide exchanges, several multi-asset brokers pass along the expenses of exchange data by charging traders a minimal sum each month for the privilege of doing so (depending on the venue). While data fee payments are often rebated back to traders if certain minimum trading volumes are reached, OvalX provides this data for free to all of its customers. When it comes to trading CFDs, the data includes information from over 20 exchanges, leaving just the fee per transaction and any relevant spread to consider.

OvalX provides both its own proprietary Trader Pro platform and the MetaTrader 4 platform (MT4). As a whole, OvalX's MetaTrader 4 platform does not compete with the Best MetaTrader Brokers. Furthermore, although the Trader Pro platform includes a number of notable features, our testing revealed that we were left wanting more.

A trailing stop and GTC orders, as well as the attachment of stop and limit orders to an OCO order, are all possible with Trader Pro advanced order types, according to the company. Traders may also choose to include a Guaranteed Stop-Loss Order (GSLO) in their order for an additional fee, which can be beneficial in turbulent markets.

Trader Pro charting: There are approximately 60 indicators and 14 drawing tools available in the charting area, as well as a wide choice of common chart kinds and time periods to choose from. All things considered, these characteristics are in line with industry norms. Highlights of the charting package include smooth zooming, real-time visual profit-loss monitoring for open positions, and the option to preserve charts views with any generated trend-lines in their original format.

Phone orders only: Certain goods on the platform display a phone icon and have the buy/sell button disabled. Unfortunately, trading in these symbols is only possible over the phone via OvalX's trading department.

While OvalX's forex research platforms include high-quality information, the company's entire spectrum of research is below the industry average.

There are two mobile trading applications available from OvalX: Trader Pro and the conventional MetaTrader 4 (MT4) app. Aside from MT4, the Trader Pro mobile app is lacking in research and news; nonetheless, it generally provides a solid base for trading.

Advanced order types and the option to store chart views (which is uncommon in the industry) are available on Trader Pro mobile, just as they are on the web-based version of the platform. Watch lists are also synced between the two platforms. Aside from the positive aspects, such as the online platform, there is a significant deficit in forex news and research services. Boosting research will go a long way toward enhancing an already remarkable software.

OvalX is preferred by traders because of its long-standing reputation, which has been built up over 50 years via its FCA-regulated product. Trading orders with dealers over the phone is one of the distinctive value propositions offered by OvalX. This service is provided at no additional charge and allows traders to execute orders with dealers at their convenience.

OvalX's unique trading platform, which has a fluid HTML5 interface, makes it simple for traders to trade across approximately 6,000 tradeable items, according to the company. Having said that, a key disadvantage continues to be a lack of research capacity.

Monecor London Limited (OvalX), which was established in 1965, received licence from the Financial Conduct Authority (FCA) in 1995 and has been in operation in the United Kingdom (UK) for more than five decades. In addition, the broker is a member of the London Stock Exchange (although it is not a publicly listed firm) (LSE).

Forex and CFD traders may now have access to worldwide electronic and voice-traded markets with OvalX. The company now provides over 6,000 CFDs on 23 global stock exchanges as well as 60 forex and seven cryptocurrency pairings.

Our OvalX review will provide you with all of the information you want about this CFD trading platform. We'll take a look at the many features, pricing, and services available. But first and foremost, we must issue a strong cautionary note!

Spread betting and CFDs (contracts for differences) enable you to participate in the stock market without having to own any equities directly. To forecast market fluctuations and invest appropriately, you may instead rely on existing trading systems, professional advice, or your gut feeling to make predictions.

CFDs and other financial derivatives, such as options, may potentially provide lucrative returns. However, there is a danger associated with them, which is why the ETX sample account is so vital. Along with selecting the most appropriate broker for your requirements, you'll want to carefully plan your transactions and evaluate your risk tolerance on a regular basis.

OvalX, which bills itself as a "boutique broker," specialises in CFDs and spread betting. It provides access to more than 5,000 different marketplaces. Users can trade in a variety of markets, including forex, indices, stock prices, commodities, and cryptocurrencies. While mostly focused on individual accounts, the firm has lately expanded its offerings to include corporate brokerage services as well.

The OvalX trading platform, which is based in London, has established a solid name in the sector. It is governed by the Financial Conduct Authority in the United Kingdom and the Cyprus Securities and Exchange Commission.

Before you join up for OvalX investing, you'll need to be familiar with the platform's operation. Because of this, the company's most important trading platform, ETX TraderPro, is very simple and user-friendly. Furthermore, an unlimited Demo Account guarantees that you may familiarise yourself with the platform before depositing cash into your account for the first time.

The minimum deposit amount with OvalX is just 100 units of your base currency ($100, for example). This, together with the completely digital account creation, makes it simple to create an account.

All you have to do is choose your base currency (USD, GDP, EUR, etc.) and fill out your personal information to get started. Your contact information includes your name, phone number, and email address. Later on, you'll be required to provide some further information, such as your address and country of residence, to complete your application. In addition, you'll be required to answer a few questions to demonstrate your financial expertise. Once you've completed this step, you may verify your identification by uploading a copy of your passport or driving licence, as well as a bank statement or utility bill.

With OvalX, you'll be able to pick between two different account types: the ETX TraderPro and the OvalX MT4. TraderPro is the main platform of ETX Capital, and it is jam-packed with features. However, if you're used to using MT4, you may want to remain with what you're familiar with. Once you have enrolled, you may request that your account be connected to both platforms.

Most accounts are opened on the same working day as you finish the registration procedure and submit your verification papers. If you have any questions, please contact us. Consequently, you will not have to wait long before you can start trading.

You have the option of increasing the amount of money in your trading account and selecting which markets to study, or you can start making trades right away. However, you may wish to practise with an OvalX Demo account first, or you may want to take use of OvalX's helpful Education resources to further your understanding.

Funds may be deposited into your account by a bank transfer or a credit/debit card transaction. There are additional online payment solutions, such as Skrill and Neteller, that are accessible. In contrast to bank transfers, which may take up to 2-3 hours, the other deposit options are instantaneous.

As previously stated, OvalX provides you with access to more than 5,000 different marketplaces. When you trade on the OvalX Forex platform using ETX TraderPro or MT4, you may access CFDs, indices, cryptocurrencies, stocks, and commodities, among other instruments.

OvalX provides a variety of charting and teaching tools to its clients. However, the organization's research capabilities are fairly restricted. The broker distributes market news on a regular basis on its website, however at the time of writing, no fundamental data is accessible.

The OvalX mobile application, on the other hand, has a wealth of instructional tools. This makes it simple for new traders to grasp the fundamentals of CFD trading, spread betting, forex, and the desktop version of the market.

Other resources available from the brokerage company include "How To" instructions for indices and commodities, as well as cryptocurrencies, providing information on Bitcoin regulation and other essential topics. As an added bonus, the 'Learn' series from OvalX will provide you with a broad understanding of option trading. In addition, they provide important information on risk management, margin, and tradeable assets.

OvalX's proprietary trading platform, TraderPro, is available on the web and through mobile devices. In contrast, the MT4 trading platform is available as both an OvalX mobile application and a desktop platform.

Finding assets and browsing the marketplaces are straightforward when working with TraderPro. And, after you've selected what you want to trade, you may set a variety of orders, including market, stop, limit, stop trailing, one-cancels-the-other, and limit-and-stop orders (OCO). TraderPro also has the option of setting good 'til cancelled (GTC), good until time (GTT), or good 'til date (GTD) restrictions, which may be used in conjunction with other time constraints. Additionally, there are a variety of OvalX deposit options available for funding your account.

Because the TraderPro platform is very adaptable, it is simple to customise it to your liking and make it as user-friendly as possible for you. Even more importantly, price alerts sent by smartphone push notifications or email allow you to keep tabs on the markets at all times.

Many individuals seek for in-depth OvalX reviews in order to determine whether or not the company has a client portal and how it operates. The good news is that a client portal has been created!

The OvalX website will allow you to examine your account details as well as use the web-based TraderPro trading platform or download and install the MT4 desktop trading platform once you've created an account. You may also utilise the client site to make deposits into your account, withdraw cash from your account, read your portfolio report, and communicate with customer service.

When it comes to trading costs, OvalX's Forex rates are competitively cheap, but its CFD fees are much higher. The charges vary depending on the marketplaces you choose to trade on.

There are two mobile applications available from OvalX: ETX TraderPro and ETX Connect.

The TraderPro app allows you to use your mobile device to access the firm's native trading platform, which is currently in beta. ETX Connect, on the other hand, serves as a social centre and mobile community for ETX customers.

Both iOS and Android versions of the applications are available. Consumers have said in multiple OvalX reviews that the programmes have a simple user interface and provide a user-friendly experience.

Email, live chat, and phone are all options for getting in touch with ETX Capital's multilingual customer service staff.

It is typical that calls are answered quickly, and staff are kind and educated, whether you have a question regarding OvalX stocks or forex, your account information, or anything else at all.

OvalX, on the other hand, does not provide customer service around the clock. If you're already a client, you may reach out to their support service between Sunday 9:30 p.m. and Friday 10:00 p.m., Central European Time (GMT+1). And new clients will need to contact the company between the hours of 7:30 a.m. and 9:00 p.m., GMT+1, Monday through Friday.

As we discussed in our OvalX review, the site is very flexible, straightforward, and simple to navigate through. Moreover, although it may not give as many trading alternatives as some other online brokers, it does so while providing exceptional customer support as well as access to more than 5,000 markets.

As a result, if you trade properly, OvalX may be an excellent option for you to consider. Do not forget about the risks involved with contracts for difference (CFDs).

Licensed and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities Exchange Commission in Europe, OvalX is a leading provider of spread betting and CFD services (CySEC). The broker provides over 5,000 different financial products, including forex, stocks, indices, commodities, and cryptocurrencies, all of which may be traded on its proprietary ETX TraderPro trading platform as well as the MetaTrader 4 platform.

OvalX was established in 1965 and is a multi-award-winning spread betting and CFD broker with its headquarters in London, United Kingdom, and is licenced by the UK Financial Conduct Authority, CySEC, and the Financial Services and Markets Authority of Singapore. Through the company's proprietary ETX TraderPro trading platform as well as through the MetaTrader 4 trading platform, users can trade on more than 5,000 different financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies.

There are two primary account kinds – Spread Betting and CFD – with the latter available solely to residents of the United Kingdom. Spread Betting accounts may be opened by anybody in the world. Furthermore, demo and Islamic (without swapping) accounts are accessible. Trading prices vary depending on the account and trading platform used; nevertheless, all fees are clear and competitive in the market place.

Clients may make deposits and withdrawals using a number of fee-free methods, including debit/credit card, bank transfer, Neteller, Skrill, and Union Pay, among others. You may find a wide variety of research and instructional materials on the site, such as Market News, Market Wrap, News & Analysis, Webinar & Analysis, E-Books, Platform Guidance, Trader Basics courses and other resources. 7:30 a.m. to 9:00 pm Monday through Friday, by email, phone, live chat, and Facebook Messenger (for Facebook Messenger users only).

In addition to Monecor (London) Limited, a company based in the United Kingdom that is authorised and regulated by the Financial Conduct Authority (FCA), ETX Capital is also the trading name for Monecor (Europe) Limited, a Cyprus Investment Firm that is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) (CySEC).

OvalX is the trading name of Monecor (London) Limited, a company based in the United Kingdom that is authorised and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa (licence number 50246) and the Financial Conduct Authority of the United Kingdom (licence number 50246). (FCA).

Despite this, the broker has a second business, which goes by the name of Monecor (Europe) Limited. This company is a Cyprus Investment Firm that is approved and controlled by the Cyprus Securities Exchange Commission (CySEC).

OvalX goes above and above to protect its clients' assets by adhering to the following regulatory requirements:

Client monies are kept separate from corporate funds in segregated accounts.

Providing an insurance for protection against negative balances.

The Financial Services Compensation Scheme covers the activities of the UK organisation (FSCS).

OvalX provides customers with the opportunity to trade on more than 5,000 financial products, including forex, stocks, indices, commodities, and cryptocurrencies. OvalX is headquartered in London, United Kingdom.

OvalX provides customers with the opportunity to trade on more than 5,000 financial products, including forex, stocks, indices, commodities, and cryptocurrencies. OvalX is headquartered in London, United Kingdom.

Spreads and overnight financing (swap) rates, as well as other trading charges, vary based on the company, account type established, and item being traded. These costs are discussed in further detail later in this study.

A Spread Betting account and a CFD account are the two major kinds of accounts offered by OvalX, with other account types such as Demo accounts and Islamic (swap-free) accounts available.

A Spread Betting account and a CFD account are the two major kinds of accounts offered by OvalX, with other account types such as Demo accounts and Islamic (swap-free) accounts available. It should be noted that Spread Betting accounts are only accessible to residents of the United Kingdom and are not available in any other EU member country.

Clients who maintain a balance of £10,000 or more can take advantage of the Premium service, which includes a Personal Relationship Manager who can deliver market news and data, provide 3rd party technical analysis, and provide users with access to new products and lower trading costs, among other things. Personal Relationship Managers (PRMs) also have priority access to the operational team for any deposit and withdrawal concerns, but since OvalX is an execution-only business, they are not permitted to provide financial advice to premium customers.

Users may create an account in a matter of minutes by following a few simple steps. Following the selection of the 'Create Account' button on the broker's site, consumers will be taken through the following procedures:

Sign up here: Select your country of residence, platform, account type, and currency from the drop-down menu.

Personal information: Please provide your name, email address, password, date of birth, phone number, nationality, and mailing address.

Employment and financial information: Indicate your employment status, annual income, source of income, and the amount of money you have in savings and investment accounts.

Past Trading Experience and Knowledge: Questions pertaining to previous trading experience and knowledge of different financial products are asked.

Terms and Policies: You must agree to the terms and policies outlined in different publications.

National Insurance Number: Confirm your National Insurance number with the company.

Document Verification: Identification (passport or driving licence) and proof of residence (utility bill or bank statement – not more than 3 months old) are required for admission.

Clients from the United States, Belgium, Canada, and Singapore are not accepted by the brokerage firm.

Fee-free deposit and withdrawal options are available at OvalX, including debit/credit card, bank transfer (ACH), Neteller, Skrill, Union Pay, and Union Pay International.

Fee-free deposit and withdrawal options are available at OvalX, including debit/credit card, bank transfer (ACH), Neteller, Skrill, Union Pay, and Union Pay International. It should be noted that withdrawals are only free if the total amount is more than £100, and any amount less than this will be subject to a £10 processing charge. Furthermore, only five fee-free withdrawals are permitted per month, and any additional withdrawals will be subject to a £10 processing fee.

Deposits made using debit/credit cards, Skrill, Neteller, and Union Pay are handled instantly, and bank transfers are completed within 2 hours of receiving the money if the funds are received within business hours, which are Monday through Friday from 7:30 a.m. to 9:00 p.m. We will also handle withdrawal instructions received before 2 pm the same day if the instructions are received before 2 pm However, if additional checks are required, it is possible that they will not be completed on the same day.

Clients may make deposits and withdrawals through the trading platform's interface.

OvalX provides its customers with the option of trading on either the company's own ETX TraderPro platform or the widely used MetaTrader 4 platform for Windows and Mac platforms.

OvalX provides its customers with the option of trading on either the company's own ETX TraderPro platform or the widely used MetaTrader 4 platform for Windows and Mac platforms.

OvalX provides users with the ability to access mobile trading on the go through the ETX TraderPro mobile trading app for Android and iOS systems, as well as the ETX MetaTrader 4 mobile trading app for iOS systems.

OvalX provides customers with the opportunity to access mobile trading on the go with the ETX TraderPro mobile trading app for Android and iOS systems, as well as the ETX MetaTrader 4 mobile trading app for iOS systems. Both the Google PlayStore and the Apple AppStore contain links to download the respective apps.

There are a number of other trading features available through OvalX, including the ETX Connect App, a mobile social trading application, and ETX MetaTrader 4 Remastered, a MetaTrader 4 plug-in that includes a variety of additional tools and features.

OvalX does offer additional trading features, such as the ETX Connect App, a mobile social trading application that allows users to communicate with one another, copy the trades of other users, and follow the portfolios of thousands of other members of the OvalX trading community. It is sufficient for clients to download the ETX Connect App and log in with their MetaTrader 4 account information in order to access all of the additional features.

Alternatively, clients can download the ETX MT4 Remastered plug-in, which provides them with access to a variety of additional features such as a Mini Terminal, Trade Terminal, an Alarm Manager, a Correlation Matrix, an Excel RTD, and others. This add-on is only available for the MetaTrader 4 platform on Windows computers, but it is a fantastic addition to the trading experience.

OvalX offers competitive trading costs across all asset classes, as well as a variety of commission-free and commission-based trading options, though the exact costs vary depending on the account type and trading platform used. The spreads and charges charged by the broker are all clearly displayed on the broker's website.

OvalX provides both commission-free and commission-based trading, however the availability of both options differs depending on the account type and trading platform. A Spread Betting account is completely commission-free, and while a CFD account is mostly commission-free, share trading is subject to a commission-based structure.

The average spreads and commissions for each account type and platform are shown in the table below; however, users should be aware that the average spreads and commissions vary significantly depending on the time of day.

Overnight funding or'swap' fees are charged on positions that remain open overnight (22:00) GMT for accounts that are not affiliated with the Islamic faith. If positions are being held over the weekend a three-day ‘swap’ fee will be imposed on Wednesdays.

Inactivity fees are not charged by the broker for inactive accounts.

OvalX does not provide any incentives or promotional offers to its customers in compliance with regulatory requirements.

OvalX provides customer service from 7:30 a.m. to 9:00 p.m., Monday through Friday, through email, phone, live chat, and Facebook Messenger. In addition, the broker's website contains an extensive section devoted to FAQs and customer support.

Customer service hours are 7:30 a.m. to 9:00 p.m. Monday through Friday, and they can be reached by email, phone, live chat, or Facebook Messenger. New accounts can be opened Monday through Friday from 8:00 a.m. to 6:00 p.m. (Eastern time). In addition, the broker's website contains an extensive section devoted to FAQs and customer support.

In less than 2 minutes after submitting our question through the live chat, we were connected to an agent who responded to our question completely.

OvalX, Floor 6, 26 Finsbury Square, London, EC2A 1DS, United Kingdom is the company's mailing address.

Customer assistance may be reached by email at

Phone: +44 (0) 20 7392 1434 for the trading desk, and +44 (0) 20 7392 1494 for customer support.

OvalX provides a variety of research services to its customers, including Market News, Market Event, Market Wrap, News & Analysis, and others. The information is quite detailed and is updated on a regular basis.

OvalX provides a variety of research services to its customers, including Market News, Market Event, Market Wrap, News & Analysis, and others. The following is a summary of the most important research currently available:

Market News: A continuous stream of major news items on global economy as well as news pertaining to currency markets is provided.

Market Event: Week in Review and Week Ahead articles covering crucial economic statistics and news stories for a variety of markets are published each week.

Market Wrap: Market review articles published at the end of each week that recap the highlights of the previous week.

News & Analysis: OvalX's Head of Research and Analysis provides detailed articles on major issues and stories, which are then shared with the rest of the company.

Additionally, there are various additional categories on the broker's Analysis page, such as articles on non-farm payrolls, Weekly Index Adjustments, Cryptocurrencies, and other related subjects. The research pieces are high-quality and customers can also watch videos of crucial market news and analysis via the broker’s YouTube account.

OvalX provides a variety of instructional resources, including Webinars, eBooks, Platform Guides, and Trader Basics courses, to provide users with a thorough introduction to all of the foundations of trading.

OvalX provides a variety of instructional resources, including Webinars, eBooks, Platform Guides, and Trader Basics courses, to provide users with a thorough introduction to all of the foundations of trading. The following is a synopsis of the most important instructional content:

Webinars: Free weekly webinars aimed at assisting traders in optimising their trading strategies. The webinars are taking place right now and cover a wide range of topics.

eBooks: Six downloadable eBooks that provide in-depth, specific market analyses are available.

Trading Platform Guides: ETX TraderPro and MetaTrader 4 Remastered trading platforms are covered in detail.

Trader Basics courses: 9 complete courses with textual and video material covering numerous assets classes, margin and trade risk as well as risk management related subjects.

OvalX gives customers access to over 5,000+ financial products spanning Forex, Shares, Indices, Commodities and Cryptocurrencies, all using the broker’s proprietary ETX TraderPro trading platform and the worldwide renowned MetaTrader 4 platform.

According to our observations, OvalX offers a fantastic trading platform for traders of all skill levels. Forex, stocks, indices, commodities, and cryptocurrencies are among the financial instruments available to clients via the broker's proprietary ETX TraderPro trading platform as well as the widely used MetaTrader 4 trading platform, all of which are available to clients.

Clients located in the United Kingdom may also take advantage of the Spread Betting account, which is exempt from capital gains tax, as well as commission-free trading on individual stocks. Users should keep in mind, however, that trading costs vary not only depending on the account type, but also depending on the trading platform selected.

Furthermore, the broker offers comprehensive research that includes high-quality articles, as well as a large selection of educational materials, such as Webinars, eBooks, Platform Guides, and Trader Basics courses, that are appropriate for new traders.

Licensed and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities Exchange Commission in Europe, OvalX is a leading provider of spread betting and CFD services (CySEC). The broker provides over 5,000 different financial products, including forex, stocks, indices, commodities, and cryptocurrencies, all of which may be traded on its proprietary ETX TraderPro trading platform as well as the MetaTrader 4 platform.

Learn more about online trading brokers for UAE citizens and residents.

Sites like OvalX in the UAE

Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.

The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.


Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.