Broker Review · last checked 2026-07-02
ETX Capital Review
ETX Capital Review concerns a legacy brand that later became OvalX. Its public maintenance site says services have ended, while client funds were either transferred or are subject to liquidation. This is a research and recovery page, not a way to open a new account.
- Regulators listed: FCA, CySEC
- Not stated for a live broker; no current onboardable minimum deposit verified
- Former clients checking closure, liquidation, or transfer information
In brief
Our ETX Capital review verdict
ETX Capital Review concerns a legacy brand that later became OvalX. Its public maintenance site says services have ended, while client funds were either transferred or are subject to liquidation. This is a research and recovery page, not a way to open a new account.
- 01Regulators
- FCA, CySEC
- 02Trading platform
- Platform support needs direct confirmation
- 03Entry cost
- Not stated for a live broker; no current onboardable minimum deposit verified
- 04Main limitation
- Not a fit if you want a live broker for new account opening
Key facts about ETX Capital
The legal entity, local rules and available account terms may change with the client's country.
- ✓ETX Capital later traded as OvalX and is now presented on the official maintenance site as a discontinued service.
- ✓Monecor (London) Limited was placed into members’ voluntary liquidation on 6 September 2023.
- ✓Oval Money (Europe) Ltd was also placed into liquidation according to the maintenance site.
Who this broker suits
- Former clients checking closure, liquidation, or transfer information
- Researchers verifying historic legal entities and regulator references
- Users who need to confirm whether a legacy ETX Capital/OvalX account was moved or wound down
- You want a live broker for new account opening
- You need clear current pricing, funding, or platform terms
- You require an actively licensed, currently onboardable retail broker
Key facts
| Topic | Summary |
|---|---|
| Best for | Former clients seeking closure, balance, or entity-status information. |
| Notable status | Legacy brand; public closure notice exists. |
| Regulatory clue | Official maintenance page references FCA authorisation for Monecor (London) Limited and CySEC/ICF for Oval Money (Europe) Ltd. |
| Platforms | No current active platform offering should be assumed from the closure notice. |
| Minimum deposit | No current minimum deposit is claimed because the firm is not presented as an active onboardable broker. |
| Payments | Residual balances and recovery routes are the main funding-related issues now. |
| Verdict | Treat ETX Capital as a closed/recovery case, not a standard broker signup choice. |
Do not use archived marketing materials as evidence of live account terms.
ETX Capital Review: a closed brand in 2026
ETX Capital should not be considered an active broker choice in 2026. The OvalX maintenance page says Monecor (London) Limited—formerly trading as ETX Capital and subsequently OvalX—entered members’ voluntary liquidation and that services have halted. For those assessing ETX Capital’s former status, the relevant position is that the brand is closed and in recovery. The practical concern is where any remaining client funds or records may be held, and which entity administered the account.
What can still be verified about ETX Capital
ETX Capital operated for many years before rebranding as OvalX. The current maintenance page confirms that the service has ceased, refers to liquidation proceedings and directs former clients to related compensation and recovery information. It is therefore an archive for previous customers, rather than a basis for comparing current broker terms.
Entity and regulation table
| Entity / brand | Regulatory status | Regulator / register | Details |
|---|---|---|---|
| Monecor (London) Limited | In liquidation; FCA authorised | FCA register / UK liquidation notices | FCA FRN 124721; ETX Capital/OvalX trading name; placed into member’s voluntary liquidation on 6 Sep 2023. |
| Oval Money (Europe) Ltd | CySEC authorisation withdrawn | CySEC former investment firms register / CySEC decision | CySEC CIF 096/08; approved trade names Oval, Oval Money, OvalX; authorisation withdrawn on 29 Apr 2024. |
| ETX Capital brand website | Broker website / support centre | Official website | Legacy maintenance site states services discontinued and points former clients to liquidation/ICF information. |
Verify account paperwork against the specific legal entity; the brand is legacy and not an active retail broker.
Why ETX Capital is not a live broker comparison
Spreads, account types and promotions would ordinarily be central to a broker comparison. In ETX Capital’s case, the final status of the brand is the relevant subject. Former clients instead need to consider what that status may mean for them, including the documents and registers needed to check balances, permissions or alternative trading options.
ETX Capital and OvalX accounts: identify the legal entity
Former ETX Capital or OvalX clients should identify the precise legal entity shown on statements, transfer notices or liquidation letters. This can help establish whether funds were transferred, remain recoverable or are subject to compensation schemes. Historic marketing material and archived screenshots should not be used to try to access an account now.
ETX Capital fees, platforms and deposits are historical
As ETX Capital no longer operates as a retail broker, public information about its former fees, platforms and deposits is archival only. The material issue is not what the broker once offered, but whether an account was migrated, closed or placed into a recovery process.
OvalX maintenance notice and legacy country restrictions
The maintenance notice excludes residents of the US, Belgium, Canada, Singapore and Switzerland. These exclusions reflect legacy website restrictions, not a current statement of availability. Current legal notices and regulator registers should take precedence over historic country-blocking language.
Alternatives to ETX Capital
| Broker | Comparison score | Regulator signals | Platforms | Why compare | Review |
|---|---|---|---|---|---|
 XTB | 75.5 | FCA, CySEC, KNF | xStation, xStation mobile app | Readers who want a broker with publicly disclosed multi-jurisdiction regulation, Users who value transparent fee pages and entity-level lega | XTB review |
 Capital.com | 73.5 | CySEC, Securities Commission of The Bahamas | Proprietary web platform, Mobile app, TradingView | Readers who want a broker with clear public legal-entity and regulator disclosures, Users looking for a proprietary web/mobile platform plus | Capital.com review |
 Colmex Pro | 70 | Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (South Africa) | Colmex Pro 2.0, MT4, Web Trader | Readers who want a CySEC-listed broker with publicly verifiable entity details, Traders comparing U.S. equities-focused platforms and MT4 av | Colmex Pro review |
 CMC Markets | 69.5 | FCA | Next Generation, MT4, MT5 | Traders who want a well-documented broker with clear public legal disclosures, Users who value proprietary platform depth alongside MT4/MT5 | CMC Markets review |
 Interactive Brokers | 68 | SEC, FINRA | IBKR Desktop, IBKR Mobile, Trader Workstation (TWS) | Experienced traders who want a broad platform lineup, Users who value detailed public disclosures, Clients who want multiple funding and acc | Interactive Brokers review |
Alternatives are sorted by the TopOnlineForexBrokers comparison score as of July 2, 2026. The score is not a safety guarantee.
Common questions
Is ETX Capital still operating?
According to the OvalX maintenance site, services have ended and Monecor (London) Limited, formerly ETX Capital, is in members’ voluntary liquidation. Treat ETX Capital as a legacy brand, not an active retail broker.
Is ETX Capital safe?
Safety for active brokers depends on regulation, client money protection, and ongoing operations. Here, the brand is closed and in recovery, so former clients need to review liquidation notices and any compensation or transfer communications.
What happened to ETX Capital clients?
The maintenance site indicates some clients were invited to move accounts to Capital.com, while residual balances for certain accounts were sent to the Court Funds Office in late 2024. Former clients should confirm which applies to their situation before acting.
Did ETX Capital have FCA regulation?
The maintenance notice confirms Monecor (London) Limited was authorised and regulated by the FCA, with the register number displayed. This is historical data and does not imply the firm is currently active.
Can I still open a new ETX Capital account?
No public information supports new account openings under ETX Capital now. Notices point to discontinued services and recovery procedures instead.
What should I compare instead of ETX Capital?
Look at brokers currently operating with clear authorisation, transparent legal details, up-to-date fees, platform options, and funding policies. Use official regulator registers and live terms—not archived snapshots—to compare.
Sources for this broker review
Use these records to recheck the legal entity, account terms and current product details before opening an account.