OvalX closed. It was the last name ETX Capital traded under, and the business wound down after 8 February 2023, when the firm taking on its clients announced the agreement. Checked on 22 Sep 2026, the OvalX web address no longer serves a broker site. There is no account to open and no live product to review.
Our spread bet content is supported by broker partners, who pay us on a retainer basis rather than per referral.
The Name Was Newer Than The Business
OvalX was the last of three names in the brand chain as Capital.com’s announcement gives it, TradIndex, ETX Capital and OvalX, oldest first, and the rename to OvalX came only a short time before the wind-down.
Our page on ETX Capital carries the brand chain and the closure evidence at length, because that is the name most people search.
Why There Is No OvalX Review Here
We rate accounts on six criteria, Trading Cost, Trading Experience, Trading Platform, Trust, Range Of Markets and Customer Service, and each of them describes something a reader could go and experience.
So we hold no criterion scores for this brand and publish no rating for it, which is the rule applied to every withdrawn brand in our data rather than a decision taken about this one. Our account scoring method names the six criteria, what each one covers, and the published sources behind every mark.
At the point of that announcement, clients were offered the chance to move their accounts to Capital.com. The release says some of its existing retail and professional clients rather than all of them, so we state the offer and not the outcome.
OvalX 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 permissions panel is not in the capture, so this page makes no claim about which regulated activities the authorisation covers. Our regulation guide sets out verifying a spread betting broker on the FCA register.
What Other Review Sites Say About OvalX
These are OvalX’s ratings on the platforms below, each read on the date shown and stated in that platform’s own scale.
OvalX rated on each third-party platform, with the rating scale, the volume of ratings and the date we read it.
OvalX’s Trustpilot profile, captured 1 Oct 2026. We re-read these ratings every month, so the figure in the table is the one the platform displayed on that capture date.
Where To Spread Bet Instead Of OvalX
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.
65% 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. Each is FCA-authorised and taking UK clients, which is the filter a reader arriving from a closed brand needs first.
Each carries the spreads we read from that broker’s own site, re-read each month, where it publishes a figure for spread betting. We rank the FCA-regulated spread betting brokers still offering the product against each other on cost and platform.
Between 60.7% 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.
OvalX Spread Betting FAQs
Is There An OvalX Review Anywhere On This Site?
No, and not by oversight. We score accounts a UK reader can open, on criteria we publish, and OvalX cannot be opened. A score for it would be a rating of something nobody can buy, which is worth less than saying plainly that the account has gone. The same rule keeps every withdrawn brand out of our ranking.
Is OvalX Regulated By The FCA?
It was, and it is not now. The FCA register, read on 26 August 2026, holds one firm behind both brand names: Monecor (London) Limited, firm reference number 124721, which carries OvalX as a trading name from 28 May 2022 and ETX Capital from 2008 to 2022. The register records the firm as no longer authorised since 25 April 2025. Companies House records that Monecor (London) Limited was dissolved on 9 May 2026.
Was OvalX The Same Broker As ETX Capital?
Yes. Capital.com’s announcement describes a business that began as TradIndex, became ETX Capital and then OvalX. The OvalX name was the last of the three and the shortest-lived. Our page on ETX Capital covers the brand chain and the closure evidence in full, for readers searching under the older name.
Is OvalX A Scam?
No, and that is a different question from the one this page answers. It was a long-established UK broker that wound down.
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 written for Kiplinger, Entrepreneur, Finance Magnates and MoneyShow since 2022, with articles on forex and trading at MoneyShow, Finance Magnates and Kiplinger.
Updated . Updated on 14 Oct 2026: The Pepperstone entry in the alternatives list now shows 73.6% for retail losses, the figure Pepperstone publishes on its UK spread betting page, read 14 Oct 2026, up from the 72.9% we read on 22 Sep 2026. The range now starts at 60.7% at Spread Co, from 61% at Spreadex, with 76.6% at OANDA unchanged. The page now records, from Companies House, that Monecor (London) Limited was dissolved on 9 May 2026.
