Capital.com confirms OvalX clients acquisition, hires ex IG exec Niamh Byrne
Niamh Byrne will serve as Capital.com’s new Head of UK and Ireland.
Niamh Byrne will serve as Capital.com’s new Head of UK and Ireland.
OvalX is finalizing the sale/transfer of most of its client base to rival broker Capital.com.
OvalX and its board are involved in active discussions regarding a merger or sale of much of OvalX’s assets to another broker.
Visitors to etxcapital.com are now redirected to the broker’s new website, ovalx.com
Oval operates a mobile app with over 100,000 active users, helping them to save and invest through their marketplace of financial products.
ETX Capital saw a 50% increase in Revenues during 2020, and has been branching out into the area of investment banking.
ETX Cyprus will be the European HQ for the group, with the company only weeks away from onboarding European clients through the new entity.
ETX Capital, operated by FCA regulated Monecor (London) Limited, was acquired during in 2020 by Swiss fintech investor Guru Capital SA.
Other board additions at ETX Capital include Guru Capital’s Ryan Nettles and Luca Merolla, and former ETX CEO John Wilson.
Guru Capital said that it intends to leverage the strong ETX Capital brand, and also to grow the business globally through M&A activities.