It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of MTrading

Pros:

• Wide range of trading instruments, including currencies, stocks, cryptocurrencies, indices, commodities and other highly liquid financial assets.
• Low account opening requirements, with the ability to start trading with as little as $10 on the M.Cent account.
• Flexible and convenient deposit and withdrawal options, including a variety of electronic payment systems, bank cards and wire transfer options.
• Copy trading features allow novice traders to learn from experienced traders and potentially increase profits.
• Educational resources such as articles, news and technical analysis are available to help traders stay informed and make more informed decisions.

Cons:

• Customer support may not be able to provide quick responses due to the high volume of requests.
• Limited options for contacting customer support, with only a few social media accounts and an online chat button available.
• Limited educational resources compared to some other brokers in the market.
• Limited trading platforms available, with only MT4 and a mobile application offered.
• The high maximum leverage of up to 1:1000 can increase the risk of losses for traders who are not experienced with high leverage trading.

What type of broker is MTrading？

MTrading is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, MTrading acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that MTrading has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with MTrading or any other MM broker.

General Information

MTrading is a global forex and CFD broker that was established in 2013. It offers trading services to both retail and institutional clients. MTrading provides its clients with access to over 100 trading instruments, including forex, commodities, and indices, with flexible leverage options of up to 1:1000. The company offers three types of accounts to cater to different trading needs and experience levels. In addition to its trading services, MTrading also provides educational resources and copy trading capabilities to its clients.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

Is MTrading safe？

MTrading is regulated by the National Futures Association (NFA) in the United States. The company holds a Common Financial Service License, with the license number 0555516. This license is issued to FINVEST SOLUTIONS LIMITED. The regulatory status of this license is currently listed as “General Registration.”

Market Instruments

MTrading offers various trading instruments for traders to choose from. With access to currencies, stocks, cryptocurrencies, indices, commodities, and other highly liquid financial assets, traders have the opportunity to diversify their portfolios and take advantage of market trends across multiple markets. However, the limited information available about the trading instruments and their underlying assets may make it challenging for traders to conduct thorough analysis and risk management. Finally, traders should be aware of the high level of risk associated with some of the trading instruments, such as cryptocurrencies, which may not be suitable for all traders and can result in significant financial losses.

Spreads, Commissions and Other Costs

MTrading offers competitive spreads on all account types, ranging from 0 pips on the M.Pro account to 1 pip on the M.Cent and M.Premium accounts. The M.Cent and M.Premium accounts do not have any commission charges, while the M.Pro account charges a commission of 4USD per standard lot traded. The trading specifications are transparent and available for all accounts, allowing traders to make informed decisions based on the trading conditions. Another advantage is the low minimum deposit requirements on all account types, which makes trading accessible for a wider range of traders. However, the disadvantage of the commission charge on the M.Pro account may be a consideration for some traders.

Trading Accounts Available in MTrading

MTrading offers three different account types to cater to the needs of different types of traders. The M.Cent account is ideal for beginners who are just starting with trading and want to practice with micro lot trading, requiring a low minimum deposit of $10. The M.Premium account offers a wider range of trading instruments and is suitable for traders with some experience who want to trade with larger positions, asking a minimum deposit of $100. Finally, the M.Pro account is designed for more experienced traders who want to take advantage of zero spread trading with a commission of $4USD. This account requires a high minimum deposit of $500. Overall,low starting capital requirement of M.Cent and M.Premium accounts makes it easy for traders to start trading with MTrading.

Trading Platform(s) that MTrading Offers

MTrading offers its clients the popular MT4 platform, which is widely used and highly regarded by traders around the world. MT4 is a customizable and user-friendly platform that supports a wide range of technical indicators and trading strategies. The platform also has a large and active online community that provides access to a wealth of resources for traders. In addition, MTrading also offers its own mobile trading application, which provides convenience for traders who need to manage their trades on-the-go. However, some traders may prefer a more advanced platform with additional features and tools, and the mobile application may have limited features compared to the desktop version of MT4.

Here is a video about their own app on their official YouTube channel.

Maximum Leverage of MTrading

MTrading offers a maximum leverage of up to 1:1000, which is significantly higher than what is typically offered by regulated brokers. While high leverage can offer traders the potential for higher profits with smaller amounts of funds, it can also magnify losses and increase the risk of losing capital. Traders must exercise responsible risk management and avoid overuse of leverage to avoid significant losses. High leverage can offer more trading opportunities and flexibility, but it also requires careful monitoring of positions and market movements. It is important for traders to have a solid understanding of leverage and its potential risks before using it in their trading strategy.

Deposit and Withdrawal: Methods & Fees

MTrading offers a wide range of flexible and convenient ways to deposit and withdraw funds. Clients can choose from a variety of electronic payment systems, bank cards, and wire transfer options to make deposits or withdrawals. The processing time for deposits is fast, and the withdrawal processing time depends on the payment method used, with some methods taking longer than others. However, there may be additional fees for certain deposit and withdrawal methods, and some regions may have limited options available. Overall, MTrading provides its clients with a convenient and reliable service for managing their funds.

Educational Resources

MTrading provides a range of educational resources to help traders stay informed and improve their trading skills. The company offers free access to articles, news, and technical analysis, providing a comprehensive overview of the latest trends and market conditions. These resources are updated regularly to ensure traders are always up to date with the latest developments in the financial markets. However, MTrading doesn't offer live webinars or educational courses, which may limit the opportunities for beginner traders to learn and improve their skills. Additionally, the company has limited video resources, which may also be a disadvantage for some traders. Overall, the educational resources offered by MTrading are comprehensive and up to date, providing valuable insights and analysis for traders looking to stay informed and make informed trading decisions.

Copy Trading

MTrading offers the copy trading feature, which allows traders to automatically replicate the trades of experienced traders on the platform. This feature can be beneficial for beginner traders who lack the necessary skills and knowledge to make profitable trades independently. Copy trading can be customized to fit individual risk preferences and can reduce emotional trading by removing the need for constant decision making. However, copy trading comes with its own set of disadvantages, such as blindly following a strategy without understanding its rationale, copy trading fees that can add up over time, and copy trading performance being highly dependent on the performance of the trader being copied. Therefore, traders need to carefully consider the pros and cons of copy trading before deciding to use this feature.

Customer Service of MTrading

There are only a few social media accounts, an online chat button, and an extensive FAQ section available for customer care on MTrading. While the FAQ section is detailed and informative, the lack of multiple contact options may not be enough for some clients who require immediate assistance. The support team's response time may be slow due to the large volume of requests.

Conclusion

MTrading appears to be an online broker that offers a wide range of trading instruments, flexible account types, and platforms suitable for both novice and experienced traders. The company also provides various educational resources such as articles, news, and technical analysis to assist traders in making informed decisions. The leverage offered by MTrading is also high, up to 1:1000, allowing traders to increase their potential profits. Overall, MTrading seems to be a good option for traders seeking a diverse range of trading options and educational resources.

Frequently Asked Questions (FAQs)

What is the minimum deposit to open an account with MTrading？

The minimum deposit for M.Cent account is only $10, for M.Premium account is $100 and for M.Pro account is $500.

Is MTrading a good broker for beginners？

No, MTrading is not a good choice for beginners.

Does MTrading offer copy trading？

Yes, MTrading provides copy trading for its clients.

How can I deposit and withdraw funds with MTrading？

MTrading provides a variety of electronic payment systems, bank cards, and wire transfer options for deposit and withdrawal of funds. The company also allows internal transfers between accounts of its clients.

Risk Warning

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.

Note: Oval X (ETX)s services have now been discontinued.

Risk Warning

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.

General Information

What is Oval X？

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

Oval X Alternative Brokers

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.

Is Oval X Safe or Scam？

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.

Market Instruments

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.

Accounts

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.

Leverage

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.

Spreads & Commissions

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:

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.

Trading Platforms

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:

Deposits & Withdrawals

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 minimum deposit vs other brokers

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:

Customer Service

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.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Oval X's customer service.

User Exposure on WikiFX

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.

Education

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.

Conclusion

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.

Frequently Asked Questions (FAQs)