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ETX Capital Review (OvalX) 2025

Oleg Tkachenko
Written by: Oleg Tkachenko Oleg T.
Contributor
Mirjan Hipolito
Fact-checked by: Mirjan Hipolito Mirjan H.
Cryptocurrency and stock expert
Updated:
Table of Contents

Brief Look at ETX Capital

The decline of ETX Capital (now OvalX) can be attributed to several serious problems.
Firstly, users reported numerous issues with withdrawing funds. ETX Capital began delaying or outright rejecting withdrawal requests without providing explanations. Traders were often caught in bureaucratic hurdles, with the company demanding excessive documentation or citing regulatory compliance issues.
Former clients also raised concerns about hidden fees and charges, such as inflated spreads, high overnight fees, and significant slippage during volatile trading periods, none of which were adequately disclosed.
Some traders accused ETX Capital of manipulating trading conditions to its advantage, including artificially influencing price feeds, causing trades to be executed at less favorable prices.
Furthermore, despite being registered in the UK, the broker is not regulated by the Financial Conduct Authority (FCA).
The combination of these problems led to ETX Capital's downfall. In the late 2010s and early 2020s, these issues severely damaged the company's reputation.
As a result, ETX Capital (OvalX) is now blacklisted by the crypto community.

User Satisfaction i

Score:
4.3/10

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eliza.mejias
4 weeks ago

The broker ETX Capital is a collection of every possible scam tactic. They lure you in with talk of “additional insurance,” then block withdrawals under the pretext of “enhanced security.” I invested $1,800 and wasn’t able to withdraw a single cent. After that, my profile vanished from their system. I wrote to their email, live chat — everywhere — and got no response. It feels like they simply erased me. They took the money and disappeared.

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demuni
1 year ago

Unfortunately, etx capital has been closed. Nothing helped them, neither investment nor brand change. And unfortunately, the company refused to pay my money. I can return this money provided that I open an account with Capital.com. But I just wanted to get my money back and no longer work with various dubious brokers. But so far nothing is working.

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crash994
1 year ago

My account with ETX Capital was suddenly frozen and after weeks of disputes, access was granted, but the balance was zero. Their explanations were unclear; they claimed that my funds were written off as bonuses. I didn’t look further - it immediately became clear that it was some kind of fraud!

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shivanand
1 year ago

I would like to warn everyone against ETX Capital. Believe me, it is better not to test this pseudo-broker. It is not a broker at all, but a scammer. As soon as you make the deposit recommended by managers for successful trading, you simply cease to exist for them. I transferred a considerable amount to ETX Capital and the money disappeared. And my account was blocked.

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RajaYaseen
1 year ago

Unfortunately, I cannot call ETXcapital a normal broker. I opened an account here six months ago, and now I can confidently say that not everything is so simple. The first thing a trader will encounter is requotes and slippages. The second is frequent non-market quotes. ETXcapital withdraws funds, but does not allow trading normally.

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Metlo
1 year ago

How can you trust a company that does as it pleases? I compared quotes from ETX Capital with those of other brokers. They differ significantly. Even quotes on demo and real accounts are different. It raises suspicion that ETX Capital manipulates quotes when necessary. I experienced this - suddenly a quote appeared that simply put my trade in loss. ETX Capital support said everything was normal, that it was okay.

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RRG914
1 year ago

OvalX is engaged in manipulations with trades of its clients. When opening an order, the delay occurs from one minute or more. Such orders bring practically no profit, only losses. I think OvalX does all this on purpose. All technical problems are problems specifically created by the broker to make traders suffer losses.

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badnaam_farishta to RRG914
1 year ago

Yes, I also faced problems when dealing with ETX Capital. Therefore, I decided not to wait for the increase in issues and simply closed my account. It's good that they returned my money, but it's unfortunate that I lost some money due to problems with ETX Capital.

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

EverFX
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Be careful and cooperate with the trusted brokerage companies only.

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Team that worked on the article

Oleg Tkachenko
Oleg Tkachenko Author and expert at Traders Union
  • Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.

Learn about our editorial policies.

Dr. BJ Johnson
Dr. BJ Johnson Developmental English Editor
  • Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito
Mirjan Hipolito Cryptocurrency and stock expert
  • Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).