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Do you want to know which is the better broker between ETX and ATFX ?
In the table below, you can compare the features of ETX , ATFX side by side to determine the best fit for your needs.
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EURUSD:0.9
EURUSD:5.1
EURUSD:13.38
XAUUSD:27.12
EURUSD: -6.18 ~ 2.58
XAUUSD: -24 ~ 13.93
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of etx-capital, atfx lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Note: Oval X (ETX)s services have now been discontinued.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Oval X Review Summary in 10 Points | |
Founded | 1965 |
Registered Country/Region | United Kingdom |
Regulation | FCA (suspicious clone) |
Market Instruments | Forex, indices, stocks, CFDs, commodities |
Demo Account | N/A |
Leverage | 1:200 |
EUR/USD Spread | 0.6 pips |
Trading Platforms | MT4, Oval X Trader Pro |
Minimum deposit | $100 |
Customer Support | Phone, email |
ETX have completed a re-branding exercise and it is called “Oval X”. Oval X is a trading brand of Monecor (London) Limited, company registration number 00851820. As a member firm of the London Stock Exchange, Monecor (London) Limited is regulated by the Financial Conduct Authority (Financial Services Registration Number. 124721), however, it is a suspicious clone.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros | Cons |
• Wide range of trading instruments | • Suspicious clone FCA license |
• Flexible leverage | • Reports of unable to withdraw and scams |
• Tight spreads | • Withdrawal fees applied after 5 withdrawals |
• MT4 trading platform available | |
• Multiple payment methods | |
• Rich educational resources |
There are many alternative brokers to Oval X depending on the specific needs and preferences of the trader. Some popular options include:
Z.com Trade - a reputable online broker with a user-friendly platform and competitive trading conditions, making it a good choice for traders of all experience levels.
AETOS - a trusted broker known for its strong regulatory compliance, extensive product offerings, and comprehensive trading tools, making it a reliable option for traders looking for a diverse range of investment opportunities.
Hirose Financial - offers a reliable trading environment, competitive spreads, and a wide range of trading instruments, making it a recommended choice for traders seeking a trusted broker with a solid track record.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Based on the information available, Oval X is an unregulated broker with a suspicious Financial Conduct Authority (FCA, License No. 124721) license. Furthermore, there are reports of withdrawal issues and scams associated with the company. These factors raise significant concerns about the safety and legitimacy of Oval X as a trading platform.
Traders are advised to exercise caution and conduct thorough research before engaging with unregulated brokers, as the risks of financial loss and fraudulent activities are higher in such cases. It is recommended to choose regulated brokers that adhere to industry standards and provide a higher level of investor protection.
Oval X offers investors a diverse range of tradeable financial instruments across various markets. Traders can access a wide selection of currency pairs in the Forex market, allowing them to participate in global currency trading. Additionally, Oval X provides access to popular stock indices, enabling traders to speculate on the performance of major equity markets.
The platform also offers a range of individual stocks, giving investors the opportunity to trade shares of well-known companies. Furthermore, Oval X provides access to Contracts for Difference (CFDs), allowing traders to speculate on the price movements of various underlying assets such as commodities and more. With this comprehensive offering of market instruments, Oval X aims to cater to the diverse trading preferences of its clients.
Oval X provides two distinct account types that align with the trading platforms it offers. The first account type is the Trader Pro account, which is designed to cater to the needs of traders using Oval X's proprietary trading platform. The second account type is the MT4 account, specifically tailored for traders who prefer the popular MetaTrader4 platform.
One notable advantage of Oval X's account offerings is the relatively low minimum initial deposit requirement of $100. This lower entry barrier makes Oval X an attractive choice for new beginners in the trading industry who may have limited initial capital.
Oval X offers traders different leverage options depending on the financial instruments they choose to trade. For currency pairs, Oval X provides leverage of up to 1:200, allowing traders to amplify their trading positions in the foreign exchange market. When it comes to indices, the leverage offered is 1:20, providing traders with increased exposure to a basket of stocks representing a specific market. For individual stocks, Oval X offers leverage of 1:5, enabling traders to potentially magnify their gains or losses based on their trading decisions.
In the case of precious metals like gold, Oval X provides leverage of 1:20, allowing traders to capitalize on price movements in this popular commodity. For silver, copper, and platinum, Oval X offers leverage of 1:10, giving traders the opportunity to participate in the market with enhanced trading power. It's important to note that while leverage can amplify potential profits, it also increases the risk of losses, and traders should exercise caution and proper risk management strategies when utilizing leverage in their trading activities.
Oval X offers competitive spreads on a range of financial instruments. For popular currency pairs such as EUR/USD, the minimum spread is as low as 0.6 pips and the average spread is 0.81 pips, allowing traders to access tight pricing and potentially reduce trading costs. Similarly, for other currency pairs like EUR/JPY, the minimum spread is 0.9 pips, providing traders with favorable pricing conditions. When it comes to indices, Oval X offers spreads of 1 pip for both UK and Wall Street indices, enabling traders to participate in the movements of these key markets with competitive pricing.
For precious metals like gold, the minimum spread is as low as 0.4 pips, offering traders favorable conditions for trading this popular commodity. The spread for silver is even narrower at 0.03 pips, providing traders with tight pricing on this metal. For commodities such as crude oil and natural gas, Oval X offers spreads of 0.03 and 0.02 pips respectively, giving traders access to these markets with low trading costs.
In terms of commissions, Oval X charges 0.1% per deal for UK and European stock trades, 2 cents per share for US major and minor stock trades, and 0.2% per deal for Australian stock trades. These commission rates are competitive and transparent, allowing traders to have a clear understanding of the costs associated with their trades.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commissions |
Oval X | 0.6 pips | 0.1% per deal (UK & EU stocks) |
Z.com Trade | 0.2 pips | No |
AETOS | 0.3 pips | No |
Hirose Financial | 0.8 pips | No |
Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.
Please note that spreads and commissions may vary based on market conditions and account type. It's always recommended to check with the respective broker for the most up-to-date information.
Oval X offers traders a choice between two robust and versatile trading platforms: MetaTrader4 and Oval X Trader Pro. The MetaTrader4 platform is widely recognized and highly regarded in the industry, known for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators. Traders can access the MetaTrader4 platform on their computers, smartphones, or tablets, providing flexibility and convenience in managing their trades.
On the other hand, Oval X Trader Pro is the broker's own developed trading platform, offering similar features and functionality to MetaTrader4. Traders using Oval X Trader Pro can also enjoy multiple chart types, a comprehensive suite of technical indicators, and customizable tools to suit their trading preferences.
Whether traders prefer the familiarity of MetaTrader4 or the tailored experience of Oval X Trader Pro, both platforms offer a seamless trading experience across different devices, allowing traders to access the markets and execute trades with ease and efficiency.
See the trading platform comparison table below:
Broker | Trading Platforms |
Oval X | MetaTrader 4, Oval X Trader Pro |
Z.com Trade | MetaTrader 4, Z.com Trader |
AETOS | MetaTrader 4, AETOS WebTrader |
Hirose Financial | MetaTrader 4, LION Trader |
Oval X provides its clients with a variety of convenient and secure deposit methods. Traders can fund their accounts using bank wire transfers, internet wire transfers, VISA/MasterCard/Maestro, UnionPay, e-wallets including Skrill and NETELLER, with no commissions charged for these transactions. This flexibility allows traders to choose the payment method that suits them best.
Oval X | Most other | |
Minimum Deposit | $100 | $100 |
When it comes to withdrawals, Oval X Capital offers its clients the benefit of 5 free withdrawals per calendar month for amounts over $100, ensuring that traders can access their funds without incurring additional costs. However, it is important to note that Oval X Capital incurs fees from the bank for processing withdrawal requests. As a result, if a client exceeds the 5 monthly free withdrawals, a fee of $25 per withdrawal will be charged. This fee applies to withdrawals made after the fifth withdrawal in a calendar month and ensures the sustainability of the withdrawal process while maintaining the convenience and affordability of withdrawals for most traders.
See the deposit/withdrawal fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee |
Oval X | No deposit fees | No withdrawal fees for the first 5 withdrawals per month; subsequent withdrawals incur a fee of $25 per withdrawal |
Z.com Trade | No deposit fees | No withdrawal fees |
AETOS | No deposit fees | No withdrawal fees |
Hirose Financial | No deposit fees | No withdrawal fees |
If potential clients or existing clients encounter some problems during their trading process, they can reach out to this Oval X through the following contact channels:
Service Time: Monday to Friday: 7:30 am to 9 am - UK time
Telephone: +44 (0)207 392 1434, +44 (0)207 392 1400
Email: customer.service@ovalx.com
Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, YouTube, LinkedIn and Telegram.
Overall, Oval X's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Pros | Cons |
• Multiple contact channels | • Limited customer service hours |
• Active presence on social media platforms | • No 24/7 customer support |
• No live chat support |
Note: These pros and cons are subjective and may vary depending on the individual's experience with Oval X's customer service.
On our website, you can see that some reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Oval X places great emphasis on providing valuable educational resources to its clients. Through regular publication of webinars, blogs, news, and analysis, Oval X aims to empower traders with knowledge and insights to enhance their understanding of the market and refine their investment strategies. These educational materials cover a wide range of topics, including market trends, trading techniques, risk management, and fundamental and technical analysis.
Based on the available information, it is important to approach Oval X with caution. The lack of regulation and reports of withdrawal issues raise concerns about the safety and reliability of the platform. Traders are advised to thoroughly assess the risks associated with trading on an unregulated platform and consider alternative options that offer stronger regulatory oversight. It is crucial to prioritize the security of funds and ensure transparency when choosing a trading platform.
Q 1: | Is Oval X regulated? |
A 1: | No. Oval X FCA (Financial Conduct Authority, License No. 124721) license is a suspicious clone. |
Q 2: | What is the maximum trading leverage offered by Oval X? |
A 2: | The maximum trading leverage offered by Oval X Capital is up to 1:200. |
Q 3: | Does Oval X offer the industry leading MT4 & MT5? |
A 3: | Yes. Oval X provides MT4 and a proprietary platform - Oval X Trader Pro. |
Q 4: | What is the minimum deposit for Oval X? |
A 4: | The minimum initial deposit to open an account is $100. |
Q 5: | Can I deposit cash into my account? |
A 5: | Oval X does not accept cash deposits due to AML regulations. |
Q 6: | Is Oval X a good broker for beginners? |
A 6: | No. It is not a good choice for beginners. We dont advise any traders trade with unregulated brokers. |
ATFX | Basic Information |
Company Name | AT Global Markets (UK) Limited |
Founded | 2014 |
Headquarters | London, UK |
Regulated By | ASIC, SFC, FCA, CYSEC, SCA (general registration) |
Tradable Assets | Forex, precious metals, crude oil, indices |
Account Types | Standard, Edge, Premium |
Demo Account | ✔ |
Max. Leverage | 1:30 (retail traders)/1:400 (professional traders) |
EUR/USD Spread | 0.6 pips |
Trading Platforms | MT4, ATFX Mobile Trading App |
Minimum Deposit | $/€/£100 |
Payment Methods | VISA, MasterCard, Skrill, Neteller, Bank Transfer, Trustly |
Education & Analysis | Webinars, articles, daily market outlooks, technical analysis tools |
Customer Support | Live chat, contact form |
Phone: +357 25 258 774 | |
Email: info@atfxgm.eu |
ATFX is a global online forex and CFD broker established in 2014, offering trading on various markets including forex, precious metals, crude oil, and indices. The broker also offers several account types, including the Standard Account, Edge Account, and Premium Account, targeting different trading groups, with $100 to start. Besides, the demo account is also provided. Regarding trading platform offerings, MetaTrader 4 (MT4) supported and its proprietary trading app - ATFX Mobile Trading App are offered.
On the positive side, ATFX is a well-regulated broker and offers negative balance protection to protect security of clients' funds. It also offers various trading instruments with competitive spreads via the industry-leading MT4 platform. You can also test their trading conditions via risk-free demo accounts.
Pros | Cons |
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On the downside, ATFX has limited options for deposit and withdrawal methods, as it only accepts payments via bank transfers and credit/debit cards. Another disadvantage is that ATFX does not offer social trading or copy trading features, which may be important to some traders. Finally, ATFX has limited research and analysis tools compared to other brokers, which may be a concern for more advanced traders.
ATFX is a thoroughly regulated broker, boasting four licenses from esteemed global financial regulatory bodies.
These include a Market Making (MM) license (No. 418036) from the Australia Securities & Investment Commission (ASIC), an Institution Forex License (No. 760555) from the Financial Conduct Authority (FCA) in the United Kingdom, an STP license (No. 285/15) from the Cyprus Securities and Exchange Commission (CySEC), and a general registered Investment Advisory License (No. 20200000078) from the Securities and Commodities Authority (SCA) in the United Arab Emirates.
These multiple layers of regulation demonstrate ATFX's commitment to adhering to high financial standards, transparency, and the protection of investor interests.
Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number |
ASIC | AT GLOBAL MARKETS (AUSTRALIA) PTY LTD | Market Making (MM) | 418036 | |
SFC | AT Global Financial Services (HK) Limited | Leveraged foreign exchange trading | BUM667 | |
FCA | AT Global Markets (UK) Limited | Institution Forex License | 760555 | |
CYSEC | ATFX Global Markets (Cy) Limited | Straight Through Processing (STP) | 285/15 | |
SCA | Investment Advisory License | Investment Advisory License | 20200000078 |
ATFX supports trading on forex, precious metals, crude oil, and indices. However, in contrast to other brokers, ATFX does not enable shares, cryptocurrencies, ETFs, futures or options trading, and their product choices are somewhat limited.
Tradable Assets | Supported |
Forex | ✅ |
Indices | ✅ |
Commodities | ✅ |
Shares | ❌ |
Cryptocurrencies | ❌ |
ETFs | ❌ |
Futures | ❌ |
Options | ❌ |
ATFX understands that every trader has their own trading style, preferences, and needs, and that's why it offers flexible trading account options. Whether you're a beginner or an experienced trader, there is an account type that is suitable for you.
The Standard Account is a basic account type that is suitable for beginner traders who are just starting in the forex market. It requires a minimum deposit of $100.
The Edge Account is a more advanced account type that is suitable for traders who have some experience in the forex market. It requires a minimum deposit of $5,000.
The Premium Account is the most advanced account type offered by ATFX, designed for professional traders who require advanced trading features and tools. It requires a minimum deposit of $10,000. This account type offers free VPS hosting, market analysis, a personal account manager, and access to exclusive trading tools, such as Autochartist and Trading Central.
ATFX offers demo trading accounts to its clients, allowing them to practice and familiarize themselves with the trading platform and strategies before committing real funds. Demo accounts are available for all account types, including Standard, Edge, and Premium accounts. These accounts simulate real market conditions, providing traders with the opportunity to test their trading skills and strategies without any financial risks.
The demo accounts are also an excellent tool for beginners who are new to trading as it enables them to learn the basics of trading without the fear of losing money. The demo accounts offer the same features as live accounts, including access to all trading instruments and educational resources, enabling traders to experience the real trading environment.
ATFX's demo accounts have no time limit, giving traders ample time to perfect their trading strategies and techniques. Moreover, traders can switch between the demo and live accounts anytime they want.
ATFX offers varying levels of leverage depending on the type of trading account and financial instrument.
For forex trading, the maximum leverage available for retail clients is typically 30:1 for major currency pairs and 20:1 for minor and exotic currency pairs. Professional clients may have access to higher leverage, up to a maximum of 400:1, depending on their trading experience and other criteria.
Notably, while leverage can amplify potential profits, it also magnifies potential losses, so it's crucial to use leverage responsibly and only trade with funds you can afford to lose. Additionally, different regulations may apply in different regions and countries, which could impact the maximum leverage available to traders.
ATFX offers competitive spreads and commissions on its trading accounts, which vary depending on the type of account and trading instrument.
For forex trading, ATFX offers both fixed and variable spreads, depending on the account type. The spreads for major currency pairs on the standard account start from 1.0 pip, while the spreads on the Edge account start from 0.0 pips but come with a commission of $7 per lot traded.
Aside from trading fees, ATFX also charges non-trading fees that traders should be aware of, including:
ATFX currently provides the MetaTrader 4 (MT4) platform for its traders, which is a widely used platform among forex traders. It offers advanced charting tools, technical analysis indicators, and automated trading options through Expert Advisors (EAs).
While some traders may prefer other trading platforms, the MT4 platform is a robust and reliable option with a large community of users and third-party developers creating and sharing custom indicators and EAs.
In addition to the MT4 platform, ATFX also provides the Mobile Trading App, allowing traders to trade on the go.
ATFX's minimum deposit requirement of $100 makes it an accessible option for traders who are just starting out or those who prefer to trade in smaller amounts. The following payment methods are available for deposits:
How to withdraw money from my trading account?
Please note: Your bank account must be fully verified before submitting a withdrawal request.
The time it takes for funds to return to a trader's bank account will depend on the withdrawal method used.
For bank transfers, once the funds have been removed from the trading account, it will take 3-5 business days before they arrive in the trader's bank account. The actual time required for processing may vary, and traders should refer to their bank for more information.
If using an e-wallet, funds will typically be returned to the trader's e-wallet within 2 business days.
For refunds to credit/debit cards, the process typically takes 2-5 business days after the withdrawal has been successfully processed. However, if there are restrictions preventing funds from being returned to the card, ATFX may request a valid bank statement and return the funds to the trader's registered bank account. In such cases, the trader will be contacted by their relationship manager.
All withdrawal requests received before 2 pm (UK time) on a business day will be processed on the same day. Requests received after this time will be processed on the next available business day.
ATFX customer support can be connected through the following channels:
ATFX offers rich and solid educational resources to help traders improve their skills and knowledge.
One of the primary educational resources available through ATFX is their comprehensive online trading academy. This academy provides traders with a variety of resources, including webinars, videos, articles, and e-books, all designed to help traders learn the fundamentals of trading and improve their strategies. The academy covers a range of topics, from basic concepts such as market analysis and risk management to more advanced topics like trading psychology and algorithmic trading.
ATFX also provides traders with access to a variety of market analysis tools and resources. These include daily market analysis reports, economic calendars, and real-time news feeds, all of which can help traders stay informed about the latest market trends and make more informed trading decisions.
Is ATFX a regulated broker?
Yes. It is regulated by ASIC, SFC, FCA, CYSEC, and SCA (general registration).
What is the minimum deposit requirement for ATFX?
$100 is required to start real trading.
What trading platforms does ATFX offer?
ATFX offers the popular MetaTrader 4 (MT4) trading platform for desktop, web, and mobile devices.
Does ATFX offer demo accounts?
Yes.
Is ATFX suitable for beginner traders?
Yes. ATFX offers a range of educational resources, including an online trading academy and tailored courses, to help beginner traders develop their knowledge and skills.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive etx-capital and atfx are, we first considered common fees for standard accounts. On etx-capital, the average spread for the EUR/USD currency pair is -- pips, while on atfx the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
etx-capital is regulated by FCA. atfx is regulated by ASIC,SFC,FCA,CYSEC,SCA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
etx-capital provides trading platform including -- and trading variety including --. atfx provides trading platform including -- and trading variety including --.