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OvalX-1425739731920 WikiBit 2023-07-25 12:24

OvalX, a prominent virtual currency exchange, was founded in 2018 and is based in the United States. Regulated by the Commodity Futures Trading Commission (CFTC), OvalX offers a range of cryptocurrenc

Aspect Information
Company Name OvalX
Registered Country/Area United Kingdom
Founded Year 2018
Regulatory Authority The Financial Conduct Authority (FCA)
Maximum Leverage 1:100
Trading Platforms MetaTrader 4 (MT4), OvalX WebTrader
Deposit & Withdrawal Bank Transfer, Cryptocurrency Transfer
Educational Resources Video Tutorials, Webinars, Online Courses
Customer Support 24/5 Live Chat, Email:newaccounts@etxcapital.com customer.service@ovalx.comPhone : +44 (0)207 392 1494 +44 (0)207 392 1434

Overview of OvalX

OvalX, a prominent virtual currency exchange, was founded in 2018 and is based in the United Kingdom. Regulated by the Financial Conduct Authority (FCA), OvalX offers a range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). The exchange provides a maximum leverage of 1:100, allowing users to amplify their trading positions.

The exchange prioritizes the education and knowledge of its users, offering a variety of educational resources such as video tutorials, webinars, and online courses. This allows traders to enhance their understanding of the virtual currency market and improve their trading strategies.

Furthermore, OvalX ensures that its users have access to reliable customer support at all times. Their customer support channels include 24/5 live chat, email support, and phone support, enabling users to get assistance whenever they need it.

What is OvalX?

OvalX is a virtual currency exchange that caters to a diverse range of traders. It operates as a centralized exchange, meaning that trades are facilitated through its platform rather than through peer-to-peer transactions. This implies that OvalX acts as an intermediary, matching buyers and sellers of cryptocurrencies.

One notable feature of OvalX is its strong regulatory framework. As a regulated exchange, it is overseen by the Financial Conduct Authority (FCA), which helps to ensure a level of security and transparency for users. This regulatory oversight ensures that OvalX operates in compliance with specified guidelines and safeguards the interests of its users.

Pros and Cons

Pros:

OvalX offers a strong regulatory framework, as it is regulated by the Financial Conduct Authority (FCA). This regulatory oversight helps to ensure a level of security and transparency for users, providing them with a sense of trust and confidence in the exchange.

The exchange provides a diverse range of cryptocurrencies for trading, including popular options such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). This variety allows traders to diversify their portfolios and take advantage of various market opportunities, catering to the needs and preferences of different traders.

OvalX offers maximum leverage of 1:100, which can be beneficial for traders looking to amplify their trading positions and potentially enhance their profits. This feature allows traders to have greater exposure to the market, increasing their potential returns.

Cons:

One potential drawback of OvalX is that it operates as a centralized exchange, meaning that trades are facilitated through its platform rather than through peer-to-peer transactions. This may not appeal to traders who prefer the decentralized nature of peer-to-peer exchanges.

Another point to consider is that although maximum leverage can enhance potential profits, it also increases the risk of losses. Traders should be aware of the risks associated with trading on margin and consider their risk tolerance before utilizing the maximum leverage offered by OvalX.

Overall, while OvalX offers strong regulatory compliance, a diverse range of cryptocurrencies, and leverage options, traders should carefully assess their preferences and risk tolerance before choosing the exchange.

Pros Cons
Strong regulatory framework Centralized exchange
Diverse range of cryptocurrencies Potential risk of losses with leverage
Maximum leverage of 1:100

Regulatory Authority

The exchange is regulated by the Financial Conduct Authority (FCA) with a regulation number of 124721. It is classified as regulated, indicating that it operates within the guidelines and regulations imposed by the FCA. The exchange holds an Investment Advisory License under the name Monecor (London) Ltd, which further emphasizes its commitment to regulatory compliance.

Security

OvalX employs several security measures to protect against potential attacks and fraudulent activities. The exchange regularly monitors its systems and implements advanced security technologies to identify and prevent any suspicious activities. This proactive approach helps to maintain a secure trading environment for users.

However, it is essential for users to play an active role in securing their accounts and practicing good security habits. This includes utilizing strong and unique passwords, enabling two-factor authentication (2FA), and being cautious of phishing attempts or suspicious links.

Trading Market

OvalX offers a wide range of trading products, including cryptocurrencies, forex, shares, indices, commodities, and bonds.

Cryptocurrencies

OvalX offers a wide range of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dogecoin, and many more.

Other tradable products

In addition to cryptocurrencies, OvalX also offers the following tradable products:

Forex: OvalX offers over 100 currency pairs to trade, including major, minor, and exotic pairs.

Shares: OvalX offers over 15,000 shares to trade from exchanges around the world.

Indices: OvalX offers over 50 indices to trade, including major global indices such as the S&P 500, FTSE 100, and DAX 30.

Commodities: OvalX offers over 20 commodities to trade, including gold, silver, oil, and wheat.

Bonds: OvalX offers a range of bonds to trade, including government bonds, corporate bonds, and emerging market bonds.

Cryptocurrencies available

OvalX offers a diverse range of cryptocurrencies for trading, including popular options such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). These cryptocurrencies are known for their market liquidity and widespread acceptance, making them attractive choices for traders.

Services

OvalX also offers a number of other services and products, including crypto wallets, staking, and lending.

Crypto wallets

OvalX offers a number of crypto wallets to store your digital assets securely. The wallets are available for both web and mobile devices, and they support a wide range of cryptocurrencies.

Staking

OvalX also offers staking services for a number of cryptocurrencies. Staking allows you to earn rewards by holding your assets in a wallet that supports staking. The rewards are paid out in the form of new cryptocurrency tokens.

Lending

OvalX also offers lending services for a number of cryptocurrencies. Lending allows you to earn interest on your assets by lending them to other users. The interest rates are paid out in the form of the cryptocurrency that you lent.

Other services

In addition to the above, OvalX also offers a number of other services, such as:

Cryptocurrency education: OvalX offers a number of resources to help you learn about cryptocurrencies and blockchain technology.

Cryptocurrency news and analysis: OvalX provides its users with access to the latest cryptocurrency news and analysis.

Cryptocurrency trading signals: OvalX offers a subscription service that provides its users with cryptocurrency trading signals.

Overall, OvalX is a well-rounded platform that offers a wide range of services and products related to cryptocurrencies.

How to open an account?

The registration process of OvalX consists of six steps:

1. Visit the OvalX website and click on the “Sign Up” button to initiate the registration process.

2. Provide your email address and create a strong and unique password for your account. This information will be used to log in to your OvalX account.

3. Submit your personal details, including your full name, date of birth, and residential address. This information is required for identification and compliance with regulatory requirements.

4. Complete the verification process by uploading a copy of your identification document, such as a passport or driver's license, and any additional documents requested by OvalX for Know Your Customer (KYC) purposes.

5. Once your documents have been submitted, OvalX will review and verify your information. This process may take some time, and you will be notified via email once your account has been successfully verified.

6. After your account has been verified, you can proceed to fund your account by depositing cryptocurrencies or fiat currencies. Once your funds have been credited to your OvalX account, you can start trading on the platform.

How to Buy Cryptos

There are two main ways to buy cryptos on OvalX:

Through the OvalX app:

To buy cryptos through the OvalX app, you will first need to create an account and verify your identity. Once your account is verified, you can deposit fiat currency into your account using a variety of methods, such as bank transfer, credit card, or debit card.

Once you have deposited fiat currency into your account, you can then use it to buy cryptos. To do this, simply open the OvalX app and navigate to the “Buy” tab. Select the cryptocurrency that you want to buy and enter the amount that you want to buy. Then, review the order details and click “Buy” to complete the purchase.

Through the OvalX website:

To buy cryptos through the OvalX website, you will also need to create an account and verify your identity. Once your account is verified, you can deposit fiat currency into your account using a variety of methods, such as bank transfer, credit card, or debit card.

Once you have deposited fiat currency into your account, you can then use it to buy cryptos. To do this, simply go to the OvalX website and log in to your account. Click on the “Buy” tab and select the cryptocurrency that you want to buy. Enter the amount that you want to buy and review the order details. Then, click “Buy” to complete the purchase.

Fees

OvalX's trading fees are based on a maker-taker fee model. Makers are traders who place limit orders, which are orders that are not immediately executed. Takers are traders who place market orders, which are orders that are executed immediately.

The maker fee on OvalX is 0.08%. The taker fee is 0.12%. This means that if you place a limit order, you will pay 0.08% of the trade value in fees. If you place a market order, you will pay 0.12% of the trade value in fees.

Here is a table of OvalX's trading fees:

Order Type Fee
Maker 0.08%
Taker 0.12%

OvalX also offers a tiered maker rebate program. This means that if you place a certain amount of maker orders in a month, you will receive a rebate on your maker fees. The rebate tiers are as follows:

Maker Volume (USD) Rebate
100,000 0.04%
500,000 0.06%
1,000,000 0.08%
5,000,000 0.10%
10,000,000 0.12%

For example, if you place $100,000 worth of maker orders in a month, you will receive a rebate of 0.04% on your maker fees. This means that you will only pay 0.04% in maker fees, instead of 0.08%.

Deposit & Withdrawal

OvalX offers several deposit and withdrawal methods to cater to the diverse needs of its users. These methods may include bank transfers, credit/debit cards, and cryptocurrency transfers. Users can choose the most convenient method for them based on their preferences and requirements.

The processing time for deposits and withdrawals on OvalX may vary depending on the chosen method and other factors such as network congestion or verification processes. Typically, deposits are processed and credited to the user's account within a relatively short timeframe, while withdrawals may take longer due to additional security checks and verification procedures.

Educational Resources

OvalX provides a range of educational resources and tools to support traders in their trading journey. Traders can access trading guides and tutorials that cover various topics related to cryptocurrency trading, including technical analysis, risk management, and trading strategies. These resources aim to enhance traders' knowledge and understanding of the market.

Furthermore, OvalX offers webinars and educational events where traders can learn from industry experts and gain insights into market trends and trading techniques. These interactive sessions provide an opportunity for traders to ask questions and engage with professionals in the field.

In terms of community support and communication platforms, OvalX has forums or social media groups where traders can connect with each other and share their experiences and knowledge. These platforms can foster a sense of community and enable traders to learn from one another.

It is important for traders to utilize these educational resources and tools to enhance their trading skills and make informed decisions. However, traders should also exercise caution and conduct their own research to validate the information provided in these resources.

Customer Support

OvalX offers customer support services to assist users with their inquiries and concerns. The available hours of the customer support team may vary, and users should refer to the OvalX website or contact their support team for the specific hours of operation.

24/5 Live Chat,

Email Support:newaccounts@etxcapital.com customer.service@ovalx.com

Phone Support : +44 (0)207 392 1494

+44 (0)207 392 1434

Is OvalX a Good Exchange for You?

OvalX stands out as the best exchange for beginners due to its emphasis on user-friendly features and comprehensive educational resources. The platform is designed to facilitate an easy entry into the world of cryptocurrency trading, providing novices with the tools and knowledge needed to navigate the market successfully.

For beginners, OvalX provides educational resources and tools, such as trading guides and video tutorials, to help them understand the basics of cryptocurrency trading. The exchange's user-friendly interface and intuitive design make it accessible for novice traders to navigate and execute trades.

Experienced traders can benefit from OvalX's diverse range of cryptocurrencies and advanced trading features. The exchange offers competitive trading fees, a variety of trading pairs, and advanced order types, such as limit orders and stop losses.

Institutional investors can find value in OvalX's robust security measures and compliance with regulatory guidelines. The exchange prioritizes the protection of user assets and implements industry-standard encryption protocols to safeguard sensitive data.

It is worth noting that trading in the cryptocurrency market involves risks, and traders should carefully consider their risk tolerance and investment objectives. Each trading group should conduct their own research, stay informed, and make informed decisions based on their unique trading preferences and requirements.

Conclusion

In conclusion, OvalX offers a comprehensive platform for users interested in virtual currency exchange. The registration process is straightforward, but users should be prepared to provide personal information and undergo verification procedures. The trading fees and deposit/withdrawal fees vary depending on the trading volume and chosen methods.

OvalX provides educational resources and tools for traders to enhance their knowledge and skills. The customer support team is available to assist users, although response times may vary. OvalX is suitable for beginners, experienced traders, and institutional investors, but users should be aware of potential technical issues and delays.

FAQs

Q: What are the trading fees on OvalX?

A: OvalX follows a tiered fee structure, where higher trading volumes result in lower fees. Traders can refer to the OvalX website or contact customer support for the exact fee schedule applicable to their trading activity.

Q: What deposit and withdrawal methods does OvalX offer?

A: OvalX offers various deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrency transfers. Users can choose the most convenient method based on their preferences.

Q: What educational resources does OvalX provide?

A: OvalX provides trading guides, video tutorials, and webinars that cover various topics related to cryptocurrency trading. These resources aim to enhance traders' knowledge and understanding of the market.

Q: How can I contact OvalX's customer support?

A: OvalX's customer support team can be reached through email, live chat, or phone. The specific contact information can be found on the OvalX website or by accessing the support section of their platform.

User Review

User 1: From What Ive heard, OvalX is a reliable and user-friendly cryptocurrency exchange. Many users have praised their intuitive interface and fast transaction processing times. However, some have noted that their customer support can be slow to respond to inquiries.

User 2: I've recently started using OvalX, and I'm impressed with their platform. OvalX Exchange offer a good range of cryptocurrencies to trade, and their fees are competitive. I also appreciate their focus on security and regulation

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.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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