ETX Capital completes brand integration with OvalX

abdelaziz Fathi

ETX Capital, a London-based financial spread-betting and contracts-for-difference provider, is now OvalX. The URL will now redirect visitors to the OvalX’s website.

The development comes nearly three months after Oval said it had completed the integration with ETX Capital. The combined firm promises to soon implement new features and recruit more talents to help the brand shift from a start-up to a substantial industry presence.

Oval will benefit from ETX Capital’s experience in financial markets to offer new services that are “effective and personalized” to customers’ savings and investment needs.

Oval operates a successful mobile app that has over 100,000 active users, helping them save and invest through their marketplace of financial products, automatically and on a recurring basis. The multi-regulated brand was formed in 2017 and is based in London, United Kingdom.

ETX Capital shared the following statement on its Linkedin profile:

“Having delivered trustworthy service our customers can rely on for decades, we’ve made sure any changes we introduce don’t affect the services our customers you know and love. As the next step in our evolution, we’ve changed our name to OvalX. We’ll look a little different, but you can still expect the same premium, personalised customer experience, plus the same access to over 5,000 markets.

“But now we’re combining with someone to push us to the next level through technology and innovation. We’re creating something new – OvalX. OvalX combines ETX’s experience with Oval technology. It’s the next step as we move into the future.”

Operating since 2002, ETX Capital is no newcomer to the FX industry as its parent company, Monecor Ltd, was initially incorporated in 1965. ETX, which stands for electronic trading, telephone trading, and execution services, has been on the expansion trail since 2010 when it launched businesses in Germany and South Africa. In 2013, it expanded its international operations, snapping up the local offices of a filed spread better in Greece, Spain and Denmark.

ETX Capital was acquired in 2020by Guru Capital SA, a private equity firm based in Switzerland. At the time, the financial terms of the deal were not disclosed, but the deal was part of the takeover of the trading name of Monecor (London) Limited.

Guru Capital bought ETX Capital from UK-based JRJ Group, which in 2007 established a joint venture with the Dutch BXR Group to acquire the broker that was formerly known as TradIndex.

Read this next

Inside View

Libertex founder’s family denies any links to Russian government

Vyacheslav Taran, 53, founder of Forex Club and CEO of Libertex Group, was the sole passenger of a helicopter that crashed in Villefranche-sur-Mer this weekend. The helicopter crash is still under investigation, and authorities have not indicated any possibility of foul play.

Digital Assets

Despite FTX chaos, Italy welcomes crypto lender Nexo

Crypto lender Nexo has won regulatory approval from Italy’s financial regulators, allowing the exchange to continue serving Italian customers.

Institutional FX, Interviews

ION Markets for execution and clearing: Francesco Margini at FIA EXPO 2022

The CPO of Cleared Derivatives at ION Markets spoke about the need for automated execution and clearing in times of surging volumes and increased volatility.

Institutional FX

FIA EXPO 2022: Baton Systems President on building post trade rails for capital markets

As the world’s largest trade show for the listed derivatives dealers, the FIA Futures and Options Expo is a high point for the global cleared swaps community, with dozens of panels, educational sessions, networking opportunities and more.

Industry News

Brokeree Solutions Wins the “Best Emerging Fintech” Award

2022 has become, for Brokeree Solutions, a time of new inventions and developments. We are pleased that the industry has appreciated this emergence of new technologies

Metaverse Gaming NFT

Glip raises $2.5 million to develop class-A Web3 games ecosystem

Web3 game discovery & wallet app, Glip has raised an additional $2.5 million in new funding from a range of investors, bringing the total investments it received to $6 million thus far. 

Inside View

Black Friday and trading: OctaFX presents the results of its client survey

What are the attitudes of traders toward the Black Friday period? What are their trading patterns during the shopping season? OctaFX asked its clients all the most important questions.

Retail FX

Dukascopy warns of clone website dukascopyd.swisbank

Switzerland’s forex bank and broker, Dukascopy has alerted the market and consumers to a clone of its authorised brand. The website, which remains active, is impersonating the genuine investment firm in an attempt to deceive people into handing over their hard-earned money.

Crypto Insider

A Step-by-Step Guide on How to Get a Crypto Wallet

The crypto ecosystem is very much based on the existence of a crypto wallet, as it is the gateway that allows users to securely store their assets with full transparency and protection.