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

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

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

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

ETX Capital shared the following statement on its Linkedin profile:

“Having provided reliable service that our customers can count on for decades, we have made sure that the changes we introduce do not affect the services you know and love our customers. As the next step in our evolution, we have changed our name to OvalX. We’ll be a little different, but you can still expect the same premium, personalized customer experience and access to over 5,000 marketplaces.

“But now we’re partnering with someone to push us to the next level through technology and innovation. We create something new – OvalX. OvalX combines the experience of ETX with Oval technology. This is the next step as we head into the future.

In business since 2002, ETX Capital is no newcomer to the forex industry as its parent company, Monecor Ltd, was originally incorporated in 1965. ETX, which stands for Electronic Trading, Telephone Trading and Execution Services , has been expanding since 2010. when it started businesses in Germany and South Africa. In 2013, it expanded its international operations, taking over the local offices of a better distributed depot in Greece, Spain and Denmark.

ETX Capital was acquired in 2020 by 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 purchased ETX Capital from UK group JRJ, which in 2007 formed a joint venture with Dutch group BXR to acquire the broker formerly known as TradIndex.