Broker Review · last checked 2026-07-02
ETX Capital Review
ETX Capital is now best understood as a legacy brand: the business later traded as OvalX, and the public maintenance site says services have been discontinued and client balances were transferred or moved into liquidation processes. This page is for research and recovery context, not active account opening.
- Legacy brand and closure context
- Official maintenance notice reviewed
- Regulatory status checked against official sources
- Not a live broker onboarding page
ETX Capital at a glance
Listing status: Exclude From Recommendations · fca, cysec, legacy, higher risk
Our verdict
ETX Capital is not best approached as an active broker choice in 2026. The official OvalX maintenance site states that Monecor (London) Limited, which previously traded as ETX Capital and later OvalX, was placed into members’ voluntary liquidation, and that services have been discontinued. For readers researching whether ETX Capital is safe, the key point is that this is a legacy brand with a closure and recovery history, so the most important task is to confirm where any residual client balances or records now sit and which entity handled the account.
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
Entity and regulation snapshot
| Item | What public sources show | What it means |
|---|---|---|
| Brand | ETX Capital later traded as OvalX. | This is a legacy trading brand rather than a straightforward live brokerage brand in 2026. |
| UK entity | Monecor (London) Limited was the UK company behind the OvalX/ETX Capital brand. | Former clients should identify this legal entity on historic account paperwork. |
| Current public status | The maintenance site says services have been discontinued and references members’ voluntary liquidation. | This strongly indicates the brand is not operating as an active retail broker. |
| Regulation background | The maintenance site states Monecor (London) Limited was authorised and regulated by the FCA, and it displays FSCS language for eligible claims. | That is useful historical context, but it is not the same as an invitation to open a new account. |
| Other entity | Oval Money (Europe) Ltd is also referenced on the maintenance page and is described as having entered liquidation. | Some former clients may need to follow CySEC/ICF-related recovery information rather than FCA routes. |
Use this table as a verification guide. It is not a substitute for official liquidation correspondence or regulator records.
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.
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 | Read 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 | Read 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 | Read 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 | Read 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 | Read review |
Alternatives are sorted by the TopOnlineForexBrokers comparison score as of July 2, 2026. The score is not a safety guarantee.
Overview
ETX Capital was a long-running trading brand that later rebranded as OvalX. The current public maintenance page says the service has been discontinued, mentions liquidation for the relevant entities, and directs former clients to liquidation and compensation information. That makes this page primarily useful as an archive-style review for former customers, not as a fresh broker comparison based on current onboarding terms.
Why this page is different
Most broker reviews focus on live spreads, account types, and promotions. This page focuses on the operational end-state of the ETX Capital brand, what that means for former clients, and which documents or registers matter if someone is trying to verify balances, permissions, or alternative trading access.
What former clients should check first
If you used ETX Capital or OvalX, confirm the exact legal entity on your old account statements, any transfer notices, and any liquidation correspondence. Then verify whether your balance was transferred, held for recovery, or dealt with by a compensation route. Do not rely on old marketing pages or archived screenshots for current account access.
Fees, platforms, and funding notes
Because the brand is no longer operating as an active retail broker, public historical fee, platform, and deposit information should be treated as legacy context only. In practice, the most relevant question is not what ETX Capital used to offer, but whether your former account was migrated, closed, or moved into a recovery process.
Country availability caveat
The maintenance notice says the information is not directed at residents of the United States, Belgium, Canada, Singapore, and Switzerland. That is a legacy website restriction, not a blanket statement of live market availability today. Readers should rely on current legal notices and regulator registers rather than old country-block language.
Common questions
Is ETX Capital still operating?
The official OvalX maintenance site says services have been discontinued and that Monecor (London) Limited, formerly ETX Capital, entered members’ voluntary liquidation. That means readers should treat ETX Capital as a legacy brand rather than a live retail broker.
Is ETX Capital safe?
For a live broker, safety usually depends on current regulation, client-money handling, and operating status. Here, the more relevant issue is that the brand is in a closure/recovery context, so former clients should check liquidation notices and any compensation or transfer communications.
What happened to ETX Capital clients?
The maintenance site says some clients were offered a migration to Capital.com and that residual balances were transferred to the Court Funds Office in late 2024 for certain accounts. Former clients should verify which process applies to their own account before taking any action.
Did ETX Capital have FCA regulation?
The maintenance notice states that Monecor (London) Limited was authorised and regulated by the FCA and shows an FCA register number on the page. That is useful historical evidence, but it does not mean the firm is currently operating as a live broker.
Can I still open a new ETX Capital account?
No current public source reviewed here supports new account opening under the ETX Capital brand. The available public notice instead points to discontinued services and recovery steps.
What should I compare instead of ETX Capital?
Compare currently operating, clearly authorised brokers that publish up-to-date legal entity details, fees, platform support, and funding policies. Use current regulator registers and live terms, not archived screenshots.
Check the details yourself
These are the pages we relied on. Read them before you open an account or send money anywhere.