easyMarkets Information

What is easyMarkets? Founded in 2001 as “easy-forex” and rebranded to easyMarkets in 2016, the broker has stuck to its “Simply Honest” philosophy for over 20 years. A global multi-asset trading platform, it serves traders of all skill levels via innovative tools, diverse platforms, and transparent terms, standing out as stable and innovative with multi-country regulation and a strong reputation.

Its development includes launching forex trading in 2001, introducing “Guaranteed Stop Loss” in 2003, expanding to stocks/cryptocurrencies post-2016, partnering with Real Madrid in 2020, and holding 5-star Trustpilot ratings plus industry awards. Regulated by CySEC, ASIC, FSCA, and FSC, it segregates client funds in banks like Barclays/HSBC. Focused on “simpler, transparent trading,” it offers 275+ instruments and multi-terminal support.

Pros and Cons

Is easyMarkets Legit?

easyMarkets is a fully legitimate and compliant broker, as it holds licenses from authoritative global regulators like CySEC (≥200% capital adequacy ratio), ASIC, and FSCA (trades supervised, no compliance disputes); publishes transparent trading terms (spreads, leverage, fees) on its official website, releases regular account reports, supports third-party audits, and proactively discloses critical info to meet “investor suitability” requirements; implements a “client fund segregation system” (funds in separate bank accounts, no historical losses); and has over 20 years of operation with no major compliance issues, won awards like TradingViews “Best Forex/CFD Broker,” serves 1M+ global traders, and has above-average user retention and reinvestment rates.

What Can I Trade on easyMarkets?

easyMarkets offers 7 asset classes and over 275 tradable instruments, spanning forex (95+ pairs like EUR/USD, 0.7-200 pips spreads), global shares (U.S./European/Australian/Hong Kong stocks like Apple, Tencent, T+0 trading), cryptocurrencies (20+ coins like BTC/ETH, 24/7 trading, MT5 max 1:400 leverage), metals (Gold XAU/USD, 0.2-0.45 USD spreads for inflation hedging), commodities (Crude Oil/Gas, MT5 max 1:400 leverage for supply-demand tracking), indices (Nasdaq/Dow Jones/Hang Seng, with multiplier-based contract value), and Vanilla Options (for currency pairs/precious metals, fixed risk for volatility hedging).

Account Type

What account types does easyMarkets offer? easyMarkets offers 3 account types, with core differences based on “capital size, spread type, and leverage limit” to suit diverse trader needs:

Common Features: All accounts have no commissions or account fees, support 18 account currencies (including CNY, USD, EUR, JPY), and include the platforms core risk tools (Negative Balance Protection) and customer support services.

easyMarkets Fees

easyMarkets focuses on “no hidden fees,” with costs limited only to spreads and no additional charges in other processes. It has no trading commissions—fixed spreads (available on MT4, Web/App, and TradingView) range from 0.7–2.5 pips for major currency pairs (e.g., 0.7 pips for EUR/USD) and 7–200 pips for exotic pairs (e.g., 200 pips for USD/MXN), staying stable during market volatility; variable spreads (MT5 only) range from 0.7–1.5 pips for major pairs (e.g., 1 pip for USD/JPY) and 4.9–44.1 pips for exotic pairs (e.g., 11 pips for USD/CNH), adjusting dynamically with market liquidity.

It charges no deposit or withdrawal fees, supporting payment methods like Visa/Mastercard, bank transfers, Skrill/Neteller, and UnionPay (some regional banks may charge small transfer fees not imposed by the platform). There are also no account maintenance fees, rollover fees for overnight positions, or data usage fees, while the optional “Guaranteed Stop Loss with No Slippage” feature requires activation via wider spreads.

Leverage

What is easyMarkets leverage? easyMarkets'leverage uses a tiered system based on platform type, account equity, and regional regulations: MT4/VIP/Standard Accounts have max leverage of 1:400 (forex), 1:20 (stocks), 1:50–100 (crypto), 1:200 (metals/commodities); MT5 Accounts (unregulated regions) offer up to 1:2000 (forex), 1:40 (stocks), 1:400 (crypto/metals/commodities), plus a 5-tier dynamic mechanism (higher equity = lower leverage) adjusting all instruments margin requirements.

Trading Platform

What easyMarkets Trading Platform is available? easyMarkets offers 4 major trading platforms to suit different operating habits and strategy needs, with key features as follows:

Common Features: All platforms support “demo accounts” (risk-free trials with full functionality), real-time position management, and trading signal alerts. Account funds can be managed uniformly via the easyMarkets client portal.

Deposit and Withdrawal

How about easyMarkets Deposit and Withdrawal details? easyMarkets has uniform deposit rules: 25 USD minimum (no max) across platforms, with deposit methods including instant credit cards, 1–5 business day bank transfers, 1–3 day e-wallets (Skrill/Neteller), and 1–2 day local methods (e.g., UnionPay), though deposit currency must match account currency to avoid small exchange costs; withdrawals require matching deposit methods (no min limit), take 1–3 days (e-wallets), 3–7 days (bank transfers) or 1–5 days (credit cards), with requests reviewed in 1–2 days, and client funds are secured in regulated segregated bank accounts.

Copy Trading

easyMarkets doesn't have a dedicated “Copy Trading (auto-copy trading)” feature, but offers alternatives: traders can view other users'public trading records/strategies via TradingView integration (manual reference, risk judgment needed), all accounts get daily Trading Central technical analysis emails and fundamental reports (beginners adjust directions with this), and account managers provide personalized strategy advice (e.g., swing trading levels) as “manual copy trading” support for beginners.

Bonus

easyMarkets designs three types of bonus programs around “new client acquisition, existing client retention, and channel promotion,” with transparent rules and no mandatory trading requirements:

First Deposit Bonus:

Rules: New clients receive a 50% bonus on their first deposit.

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)