ETX Capital

ETX Capital was a London-based, privately-held UK online CFD and spread-betting broker serving retail and professional traders across shares, forex, indices, commodities, crypto, bonds, and rates via web and mobile platforms. The brand was wound down in 2023 when its client book was transferred to Capital.com.

Company typePrivate
Founded2003
HeadquartersLondon, United Kingdom
Headcount51–100
GTM typeB2C
OfferingServices

What ETX Capital does

ETX Capital was a UK-based online CFD and financial spread-betting broker headquartered in London, operating as a private company (legal entity Monecor (London) Limited) with a documented headcount of 51-100 employees. The business originated as TradIndex in 2003, was rebranded to ETX Capital around 2013, and later to OvalX around 2022. It offered leveraged trading across multiple asset classes — shares, forex, indices, commodities, cryptocurrencies, bonds, and interest rates — distributed through a web trading platform and a mobile trading application, with revenue generated transactionally via CFD and spread-betting commissions and fees.

The company's core technology centred on its online trading platform, augmented in 2021 when Guru Capital acquired the assets of UK fintech Oval Money and integrated its mobile app (serving over 100,000 active users) into the ETX Capital group, expanding its mobile-first distribution capability. Following the Oval Money integration and the subsequent OvalX rebranding, the business operated primarily on a horizontal, retail-and-professional segmentation, targeting active mobile traders and professional CFD/spread-betting clients in the UK market.

By February 2023, Capital.com entered an agreement with Monecor (London) Limited and Oval Money (Europe) Ltd (OvalX) to onboard the entity's existing retail and professional clients, ensuring continuity of service and marking the operational transition of the ETX Capital / OvalX client book to Capital.com. The standalone ETX Capital entity therefore ceased independent operation under that brand.

ETX Capital firmographics

Firmographics

Name: ETX Capital
Legal name: Monecor (London) Limited
Website: https://etxcapital.com
Company type: Private
Founded year: 2003
Operating status: Acquired
Headcount range: 51–100 employees
Short description: ETX Capital was a London-based, privately-held UK online CFD and spread-betting broker serving retail and professional traders across shares, forex, indices, commodities, crypto, bonds, and rates via web and mobile platforms. The brand was wound down in 2023 when its client book was transferred to Capital.com.
Ownership category
akta.pro rank

ETX Capital industry classification

Industry

Product category: Online CFD Brokerage
NAICS: Securities and Commodity Contracts Intermediation and Brokerage (5231)
SIC: Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
akta.pro primary industry: Margin Trading & Collateralized Borrowing (Exchange-Operated) (FSADAAAL)

Keywords

CFD trading
Spread betting
Online brokerage
Leveraged trading
Financial derivatives

Where ETX Capital is headquartered

Location

Headquarters

HQ city: London
HQ country: United Kingdom
HQ region: Europe

Markets served

ETX Capital business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

CFD Trading Revenue: ETX Capital operates as an online CFD broker generating revenue through contracts for difference trading services. The company offers spread-betting and CFD products to retail and professional clients in the UK financial markets.

Go-to-market motion1 record

Distribution channels2 records

ETX Capital product offering

Product offering

Core offering

ETX Capital was a UK-based online CFD and financial spread-betting broker offering leveraged trading across multiple asset classes (shares, forex, indices, commodities, cryptocurrencies, bonds, and interest rates) via web and mobile platforms to retail and professional clients. The platform emphasized mobile-first access, seamless user experience, customer service, and educational resources. Following the 2023 strategic agreement with Capital.com, the company's client accounts were transitioned to Capital.com.

Product overview

ETX Capital was a UK-based online CFD broker that originated 20 years ago as TradIndex. It operated as a unified CFD and spread-betting platform offering leveraged trading across multiple asset classes (shares, forex, indices, commodities, cryptocurrencies, bonds, interest rates) through web and mobile platforms. ETX Capital subsequently rebranded to OvalX, was acquired by Guru Capital in 2021, and in 2023 client accounts were transitioned to Capital.com under a strategic agreement. The successor platform, Capital.com, now serves as the operating platform offering similar CFD and spread-betting services with web, mobile, TradingView, MT4, MT5, and API access options.

Differentiator

Problem solved

Functional benefit

Products and services

ETX Capital / OvalX Trading Platform Online UK-based CFD and financial spread-betting platform offering leveraged trading across shares, forex, indices, commodities, cryptocurrencies, bonds, and interest rates to retail and professional clients via web and mobile channels.
Mobile Trading Application (Oval Money Integration) Mobile app for CFD and spread-betting trading on multiple asset classes, serving over 100,000 active users for client engagement and financial services delivery. Integrated into ETX Capital following the Oval Money acquisition.

Companies that use ETX Capital

Customer profile

Named customers1 record

Segments2 records

Ideal customer profiles2 records

ETX Capital technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

ETX Capital partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core.

Capital.comcoreStrategic or Co-development Partner · 8 February 2023Capital.com entered an agreement with Monecor (London) Limited and Oval Money (Europe) Ltd (OvalX) to onboard existing clients of OvalX (formerly ETX Capital). The agreement ensures continuity of service for consenting clients and marks Capital.com's commitment to grow business in the UK and EU markets.
Guru CapitalcoreStrategic or Co-development Partner · 14 May 2021Guru Capital acquired substantially all assets of Oval Money, a UK-based fintech company, which were integrated into ETX Capital. The acquisition aimed to expand financial services and enhance client engagement through the mobile app with over 100,000 active users.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

ETX Capital competitors and assessment

Company assessment

Direct peers

XTB: XTB is a publicly listed European broker offering CFD and stock trading across multiple asset classes with strong mobile distribution. It competes with ETX Capital for the same European retail-trader segment.
Capital.com: Capital.com is a high-growth execution-only CFD and spread-betting platform that became ETX's successor by onboarding OvalX clients in 2023. It offers a directly comparable multi-asset CFD product across web, mobile and TradingView.
Plus500: Plus500 is a publicly listed global CFD broker offering leveraged trading across shares, forex, indices, commodities and crypto. It is a direct competitor to ETX Capital in retail CFD brokerage with similar self-serve online distribution.
eToro: eToro is a multi-asset retail brokerage offering CFD trading alongside stocks and crypto through a social-investing mobile platform. Its product-led growth motion and retail-trader focus closely parallel ETX Capital's go-to-market.
OANDA: OANDA is a global multi-asset broker offering CFD and FX trading to retail and professional clients. It competes with ETX Capital in forex and CFD execution with overlapping UK and European customer segments.
IG Group: IG Group is one of the world's largest multi-asset CFD and spread-betting brokers, offering leveraged trading across shares, forex, indices and commodities. It is the closest direct competitor to ETX Capital in the UK CFD/spread-betting market with overlapping customer segments.
CMC Markets: CMC Markets is a UK-listed CFD and spread-betting broker serving retail and professional clients globally with a comparable multi-asset offering. It directly competes with ETX Capital for active traders in the UK and Europe.
Trading 212: Trading 212 is a UK- and EU-regulated mobile-first CFD broker serving retail traders with commission-free stock and CFD execution. It is a direct competitor to ETX Capital's mobile app and self-serve distribution strategy.

Broad incumbents

Interactive Brokers: Interactive Brokers is a large global multi-asset brokerage offering CFDs as part of a broader product suite spanning stocks, options, futures and forex. It is a broader incumbent rather than a direct UK-CFD specialist but competes for professional CFD traders.
Saxo Bank: Saxo Bank is a global multi-asset broker offering CFDs alongside stocks, futures and FX with a broader professional and institutional tilt. It overlaps with ETX Capital on CFD and spread-betting products but serves a wider and more affluent client base.

Market position

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

ETX Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ETX Capital leadership team

Management profile

Number of profiles

Profiles7 records

ETX Capital subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

ETX Capital funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

ETX Capital M&A and investment

M&A and investment

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ETX Capital

What does ETX Capital do?

Is ETX Capital a public or private company?

ETX Capital is a private company. It is classified as private equity controlled and is currently acquired.

When was ETX Capital founded?

ETX Capital was founded in 2003. It employs 51 to 100 people.

Where is ETX Capital based?

ETX Capital is headquartered in London, United Kingdom, in the Europe region.

How does ETX Capital make money?

One revenue line is on record: CFD Trading Revenue.

Who are ETX Capital's main competitors?

Direct peers on record are XTB, Capital.com, Plus500, eToro, OANDA, IG Group, CMC Markets and Trading 212. Broad incumbents are Interactive Brokers and Saxo Bank.

Does ETX Capital have an API?

Yes. Capital.com provides API access for developers. The API enables developers to build or automate trading functionality. Available platforms include web platform, mobile app, TradingView, MT4, and MT5 integration options. Developer documentation is at capital.com/en-int/trading-platforms/api-development-guide.

What industry is ETX Capital in?

ETX Capital's product category is Online CFD Brokerage. Its primary akta.pro industry code is FSADAAAL, Margin Trading & Collateralized Borrowing (Exchange-Operated). Its NAICS code is 5231 and its SIC code is 6200.