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    Ovalx Capital - is it worth trusting the project

    It is impossible to call the British company Ovalx Capital a newcomer to the brokerage market since it has been providing Forex trading services for 15 years. The review will help potential clients to understand its features and advantageous trading conditions. And also, read the reviews of actual investors who have experience working on the broker’s platform.

    Status

    Broker

    Year of foundation

    2015

    Affiliate program

    Yes

    Regulation and jurisdiction

    FCA, CySEC

    Company Features

    The broker is part of the influential financial group Monecor Ltd, registered in the UK. The FCA regulates its activities under license number 124721. Several times the dealing center has received awards for the flawless operation of the trading platform and topped the ratings of brokers with the best conditions for online trading. The peculiarity of Ovalx Capital is that the company keeps client deposits and profits on segregated accounts; respectively, employees of the organization do not have direct access to them.

    Website

    www.ovalx.com

    Pros
    • Wide range of tools
    • Availability of licenses
    • Mobile Trading
    Cons
    • Delays in output
    • Technical glitches
    • Problems with the liquidity provider
    Trading Platform

    МТ4

    Types of accounts

    Demo and real

    Account currency

    USD, EUR

    Deposit/withdrawal

    Cards, online-wallets

    Min Deposit

    $200

    Leverage

    1:500

    Min bet

    0,01

    Spread

    1.2

    Financial Instruments

    pairs, commodities, CFDs on indices and stocks.

    Margin Call/Stop out

    50%/30%

    Mobile Trading

    Yes

    Peculiarities

    Social Trading

    Bonus

    60%

    Order execution

    Market Execution

    What is Ovalx Capital

    The history of the company’s development began in 2002. At that time, it assisted in the online trading market under the Tradition UK brand. After that, there was another change in the organization’s brand, but in 2008 the broker was named Ovalx Capital, which is still valid today. Unfortunately, on the company’s official website, there is no information about the reasons for renaming the company.

    What are the trading conditions of the Ovalx broker?

    Ovalx Capital has loyal offers for traders for trading on the interbank currency exchange market. Clients who have registered on the brokerage platform receive the following conditions for trading:

    • Trading terminals: MetaTrader 4, Ovalx TraderPro.
    • Mobile software: for gadgets based on iOS and Android.
    • Minimum deposit: 100 GBP.
    • Minimum lot value: 0.01.
    • Account type: standard and demo.
    • Account currency: pound sterling, dollar, euro.
    • Financial assets: currency pairs, commodities, CFD contracts for indices and stocks.
    • Social media broker: YouTube, Facebook, Twitter, LinkedIn.
    • Maximum leverage: 1:400.
    • Spread: variable, from 0.6 points.
    • Quoting: 5 decimal places.
    • Order execution method: Instant Execution.
    • Margin Call/Stop Out Level: 100%/20%.
    • Technical support: 24/5.

    Trading with the dealing center Ovalx Capital is unavailable for traders from the United States of America. All other users can take advantage of not only attractive trading conditions but also the privileges of the company. The broker provides an Ovalx  bonus of 30% of the deposit amount for clients who have deposited from 1000 pounds to the account.

    There is also a welcome bonus of 60% on the site, which can only be received by new users who have replenished their balance of 1000 GBP. If we talk about promotions and other special offers, they are infrequent. For more information about receiving incentive funds, please get in touch with the company manager.

    How to register an account

    Creating an account on a brokerage site is a standard procedure for which the following steps must be followed:

    • Log in to the website www.ovalx.com and click the “Create Account” button.
    • Enter personal data into the fields: first name, last name, mobile phone number, E-mail, date of birth, gender, terminal type, trading account, and currency.
    • You can provide information to managers about sources of income and answers to other financial questions.
    • Account authorization by receiving a code to the specified e-mail address.
    • You get your own Ovalx login and Parol.

    Also, a novice trader has the opportunity to open a training account, which will help in mastering the rules of Forex trading, as well as testing various trading strategies. To register a demo account, you must specify a phone number and e-mail address. On balance, the user has access to 10,000 virtual pounds sterling.

    Registration

    Subtleties of deposit replenishment

    To replenish the deposit and withdraw profits, the same payment services are offered:

    • bank transfer;
    • plastic cards Visa, Maestro, MasterCard;
    • electronic systems Neteller, Union Pay, Skrill, Giro Pay, Sofort.

    To withdraw funds to personal details, you must apply, the processing time of which is 2-3 business days. The bank transfer duration for traders outside the UK is approximately 14 days. Regarding credit or debit cards, replenishing a trading account requires careful verification of the client’s data. Therefore it is not instant.

    Commission costs are not charged by the broker when transferring funds of more than 100 pounds sterling and no more than five times a month. There is a $25 fee for each subsequent financial transaction. The amount will be charged to the client monthly after four months of account inactivity.

    Introduction to the trading platform

    For trading, the Ovalx  broker provides two terminals that operate in different modes and have individual features:

    MetaTrader 4. The platform is used for online trading by most dealing centers trading in the Forex and CFD markets. Among the main advantages of the software, it is worth noting the presence of an intuitive interface, more than 50 technical indicators, graphical tools, and the possibility of automated trading. The software is available in desktop and mobile versions.

    Trader Pro. This is its trading terminal, which is not as perfect as MetaTrader 4 in terms of functionality. The developers offer several charts with hundreds of instruments for trading, tight spreads, and work through a mobile application. The platform is available in browser mode, not require downloading it to a laptop or desktop PC.

    The dealing center provides an opportunity to trade various financial assets, including currency pairs, stock indices, CFD contracts, stocks, commodities, and cryptocurrencies.

    Trader education

    The brokerage site has a variety of educational materials designed for beginners and experienced traders. Paid software training is provided for users to upgrade their skills, except for traders whose trading account exceeds £3,000.

    Clients of Ovalx Capital can use the following ways to gain knowledge:

    • video materials;
    • seminars;
    • webinars;
    • courses.

    Webinars are available for both face-to-face and distance learning. In the educational process, traders are provided with:

    • familiarization with the MetaTrader 4 trading platform;
    • analysis of strategic programs and tactics;
    • watching video training on trading in the Forex market.

    Remember that all information in the “Training” section is in English.

    How to contact technical support

    The “Contact Us” section contains all the necessary contact information for contacting the technical support service. Among them:

    • hotline phone: 0800-138-4582 (for residents of the UK), +44 (0) 20-7392-1400 (for all other subscribers);
    • e-mail: newaccounts@ovalx.com.
    • You can get help from a highly qualified specialist around the clock from Monday to Friday. You can also follow the broker’s news, changes in trading conditions, and new special offers in the broker’s official groups on social networks Facebook, YouTube, and Twitter.

    Company pros and cons

    Based on the trading conditions offered by the broker, its following advantages can be noted:

    • a license from a reliable financial regulator;
    • relatively good selection of financial assets;
    • the ability to choose a trading terminal;
    • providing useful educational material;
    • tight spreads;
    • a low threshold to enter the market.

    Also, the company has significant disadvantages that scare off traders and force them to trade on the platforms of other brokers. Among them:

    • provision of one trading account;
    • a small selection of payment services;
    • complicated registration procedure;
    • bonuses only when replenishing an account of 1000 GBP.

    Ovalx Reviews

    There are many positive and negative reviews about this broker on the net. We’ve rounded up the most popular options below. You can draw your conclusions.

    Expert opinion

    Eugene Rudenko

    Ovalx is a company that focuses on providing optimal conditions for investors from the EU who are ready to invest from $1000. For beginners and traders with a minimum capital reserve, the broker’s requirements will not work.

    Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

    Conclusions

    In conclusion, it should be noted that, despite the great experience of Ovalx Capital, traders from the Russian Federation and the CIS countries have an ambivalent opinion about it. In the Ovalx reviews, users write not very pleasant words towards the broker. They claim that the execution of orders is violated, and profits can be withdrawn within 2-3 weeks. In addition, the complicated registration of an account with lengthy verification of data and the need to provide an income declaration confuses most depositors.

    A significant drawback of Ovalx Capital for Russian traders is the lack of a Russian-language interface on the site. At the same time, the presence of only the British regulator alarms users because it is unlikely that this financial institution will protect the interests of foreign clients in the event of a dispute.

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    FAQ

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    Does the opinion of a broker's clients affect its reputation?

    The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about OvalX are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.

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    How to write a review about cooperation with OvalX on the website?

    To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.

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