ETX Capital no longer exists as a spread betting brand. It was renamed OvalX, and the business wound down after 8 February 2023 — the date the firm that took on its clients announced the agreement. Its own web address no longer serves a broker site. Checked on 5 Sep 2026, there is no ETX Capital account to open, no demo to try and no pricing to compare.
Updated 5 Sep 2026. The status this page carries changed from withdrawn to no UK entity, and nothing about the brand changed with it. Our own data had held both facts since August: that the brand left in 2023, and that the FCA cancelled the authorisation of the firm behind it on 25 April 2025. Those describe two different moments and the status field can hold one, so it now holds the later one, which is the one that answers whether you can open an account. The 2023 closure and its evidence are unchanged and still on this page. Earlier: Updated 3 Sep 2026. The FCA register entry this page rests on was re-read and captured, and the capture now sits on the page under the sentences it supports. Earlier: Rebuilt on 26 Aug 2026 as an answer to the question people actually ask about this brand, and one date came off it. The page had described the business as closing on a specific day in March 2023. The only primary source we hold is the acquirer’s own announcement, which is dated February 2023 and gives no closure date, so the March date is gone and the announcement date is stated as what it is. The firm reference number the page used to carry also came from the acquirer rather than the register, and later the same day the FCA register was read for the first time on this project. What it holds is now on the page: one firm behind both brand names, an authorisation cancelled in April 2025, and the address the regulator still lists for it.
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One Company, Three Names, And The Last One Closed
The brand ran under three names over its life: TradIndex, ETX Capital and OvalX. That chain is the acquirer’s own description of the business it agreed to take clients from, and the FCA register confirms it independently: one firm’s name table, carrying TradIndex.com from 2004, ETX Capital from 2008 and OvalX from 2022.
Most people searching for this brand are searching for the middle name. It was the one the business traded under longest and the one attached to the sponsorships, so it is the name that stuck. The rename to OvalX came late and the closure came shortly after it, which is why the better-known name outlived the company.
What follows from that is simple and worth saying plainly. Every question about this brand’s spreads, its fees, its app or its demo account is a question about a product that has been withdrawn. There is nothing behind those questions to answer, and a page that answered them anyway would be describing an account nobody can open.
How You Can Check This Yourself
You do not have to take our word for any of it, and that is unusual for a claim about a broker that has gone. The evidence is a single click and it lives on the brand’s own domain.
A permanent redirect from a broker’s own domain to somebody else’s press release is about as unambiguous as this gets. A firm still taking clients keeps its account-opening page at its own address.
The announcement itself is dated 8 February 2023. That is the date of the announcement rather than the date the business stopped — the release says transfers would happen in the weeks that followed and gives no closure date. We publish the date we can source and not the one we cannot, which is a change from what this page used to say.
Our spread betting broker reviews directory lists this brand alongside the others that have withdrawn, so a reader arriving from a search for any of them lands on the same kind of answer.
ETX Capital On The FCA Register
Monecor (London) Limited, FRN 124721, on the FCA Financial Services Register: status No longer authorised, status date 25 Apr 2025. Captured 3 Sep 2026. Source: the firm’s register entry, Financial Conduct Authority.
The capture is the firm details and firm status panels of the entry as the register served them on that date, and the link opens the live entry. The permissions panel is not in it, so this page makes no claim about which regulated activities the authorisation covers. Our regulation guide sets out how to look a broker up on the FCA register.
What This Means If You Were A Client
At the point of the announcement, clients were offered the chance to move their accounts to Capital.com. The wording is worth reading closely: the release says some of its existing retail and professional clients, not all of them.
We cannot tell you what happened to your account, and neither can any other comparison site. That depends on which firm held the money, what you were sent at the time and whether you responded to it. A former client who has heard nothing should approach the acquiring firm directly rather than work from a page like this one.
The one thing we can be useful about is what a UK client is entitled to when a firm winds down. Our guide to FCA regulation of spread betting covers client money segregation, the Financial Services Compensation Scheme and the Financial Ombudsman Service, which are the three protections that decide how a closure plays out.
The company behind both names is Monecor (London) Limited, and that is the FCA register saying so rather than the acquirer. The entry, read on 26 Aug 2026, carries ETX, ETX Capital and ETX Group as trading names from 2008 to 2022 and Oval, Oval Money and OvalX from 2022. This page used to state the absence of that fact as a gap. The gap is closed.
And the part no announcement could report: the FCA register lists ETX Capital and OvalX as trading names of one firm, Monecor (London) Limited, firm reference number 124721, whose authorisation was cancelled on 25 April 2025. That is a regulator’s decision rather than a company’s announcement, it came more than two years after the client transfer was announced, and the two dates are different facts. The page gives both, labelled.
What the register does not give is a route for a former client. It records the firm and its status, not who is handling any remaining balance, and this page states neither. A reader with money still in the firm should approach the acquiring firm named in the announcement above, and take advice rather than work from a comparison page.
Where To Spread Bet Instead Of ETX Capital
These are the three highest-scoring accounts in our ranking that you can open today, in score order. The order is the ranking’s own and does not change from page to page. Our scores are set on the criteria we publish and are never influenced by what a broker pays us. The list below is therefore the same list you will find on our spread betting platforms we rank.
76.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Your capital is at risk. This page is not financial or tax advice.
How We Picked Those Three
They are the top three of the fourteen accounts in our ranking, in score order, with nothing else applied. Every one is authorised by the FCA and taking UK clients today, which is the filter this page exists to apply. Our scores are set on criteria we publish and are never influenced by what a broker pays us.
Each card states what that broker publishes about its spreads for spread betting, read from its own UK site: some publish an average, and some publish only a minimum "from" figure. We rank the FCA-regulated spread betting brokers that still offer the product against each other, and the OvalX page covers this brand under the name it closed with.
Between 61% and 76.6% of retail investor accounts lose money when trading spread bets and CFDs with the providers we compare.
Spread betting is leveraged and losses can exceed the amount you set out to risk on a bet. This page is not financial or tax advice.
ETX Capital Spread Betting: FAQs
Can I still open an ETX Capital spread betting account?
No. The brand was renamed OvalX and the business wound down, and the web address no longer serves a broker site at all. Typing it into a browser sends you to the press release announcing that clients were being offered a move elsewhere. There is no application form, no demo account and no pricing page behind that name.
Is ETX Capital the same company as OvalX?
Yes, under a later name. The acquirer describes the brand as one that started as TradIndex, became ETX Capital and then OvalX. One business, three names, and the last of them is the one that closed. Our page on OvalX covers the same story from the other end, for readers searching under that name.
What happened to money held in an ETX Capital or OvalX account?
Clients were offered the chance to move their accounts to Capital.com, and the announcement says some rather than all. We cannot tell you what happened to any particular account, and no page on this site can. A former client who has not heard anything should approach the firm that acquired the client book directly rather than rely on a comparison site for it.
Where can I find ETX Capital spreads, fees or its demo account?
Nowhere, because the products no longer exist. Any site still publishing an ETX Capital spread or fee table is publishing figures for an account that cannot be opened. Our reviews of the accounts you can open list the spread each firm currently publishes, read each month from its own pricing page.
Justin Grossbard co-founded Spread-Bet.co.uk with Noam Korbl in 2024, and co-founded the broker comparison network CompareForexBrokers with him in 2014. He has been investing since 1998 and actively trading since 2014, and has written on forex and CFD trading for Kiplinger, Entrepreneur, Finance Magnates and MoneyShow since 2019.
