Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.61% of retail investor accounts lose money when spread betting or trading CFDs with this provider. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.
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How to deposit and withdraw trading capital with OvalX

Overview:

In order to be able to place trades and open and close positions on derivative products in the global financial markets via over the counter (OTC) trading platforms provided by retail Forex and CFD brokerages, an investor or trader must deposit capital to a trading account with the brokerage. OvalX operates by this method.

This capital is known as 'trading capital' or 'margin capital'. Click here for a comprehensive description of trading capital.

There is a definitive deposit and withdrawal process relating to trading capital and how it is handled by electronic trading companies.

How to deposit capital

Depositing capital into a trading account with OvalX must be done online via the OvalX website, and is conducted via a secure connection, Using multiple dedicated payment service providers.

Clients can also manually wire funds to our bank accounts using their own online/mobile banking.

Traders and investors must log into their OvalX trading account and ensure that the account held is a live trading account rather than a demo account.

Once logged into a live trading account, traders and investors can make a deposit of trading capital, the amount of which will then be displayed on the OVALX trading platform and can be used as trading capital when trading the entire range of CFDs on stocks, commodities, and indices as well as Forex pairs with OVALX on a leveraged basis (link to the article on why forex trading is attractive which explains leverage).

There are three main methods of making deposits into an OvalX trading account, those being

·       Bank Card

·       Instant bank transfer(UK)

·      Manual Bank wire transfer

Both are secure methods of transfer, and in both methods, the trading capital is transferred to OvalX's segregated client money account which is a special, secure bank account in which trading capital is held separately to operating capital on behalf of traders and investors.

When depositing trading capital via credit card, the trading capital usually appears immediately in the trading account as merchant services providers handling credit card transactions are usually able to complete the transaction immediately.

When depositing trading capital via bank wire transfer, the time taken for the funds to reach the trading account varies according to which bank the funds are being sent from and the location of that bank and currency which is sent.

The base currency of the OVALX trading platform is the British Pound.

How to withdraw capital

OVALX, in accordance with the regulations stipulated by the Financial Conduct Authority (FCA) which regulates all non-bank financial markets activity in the United Kingdom and whose license OvalX holds, is bound by regulations to keep the trading capital which belongs to investors and traders separate from its own operational capital.

The type of bank account in which OvalX holds trading capital on behalf of clients is called a ‘segregated account’.

This ensures the safe custody of the trading capital belonging to investors and traders, as well as the safe custody of any profits made from trading the markets via OVALX.

At any time, traders and investors have the right to withdraw either part of, or all of their trading capital from their trading account.

This can be done online via the OvalX website by logging into the trading account and completing the withdrawal procedure.

OvalX endeavours to complete a withdrawal of trading capital within two hours of it being requested by a trader or investor if it is to be withdrawn to a bank account via bank wire transfer.

If the withdrawal is to a credit card or merchant services company such as Skrill, the withdrawal of funds is usually completed without undue delay.

This is well within the guidelines stipulated by the Financial Conduct Authority (FCA) whose rules mandate that any company which holds funds on behalf of its customers must be able to complete a withdrawal within one business day of the request for withdrawal.

Profits from trading

Should a profit be made, traders and investors are free to withdraw that profit at any time, along with some or all of their margin capital.

The amount of profit will be displayed in the OvalX trading platform and the trader or investor may withdraw all or some of the profit at any time.

The withdrawal of profit is subject to the same procedure as the above-described withdrawal of trading capital and is subject to the same timeframes and methodology.

Traders and investors may wish to withdraw just the profit or part of the profit made, or may wish to withdraw the profit and trading capital, which would be paid to the trader or investor in one lumpsum and can be withdrawn in one lump sum meaning that there is no need to separately withdraw profit and trading capital.

Conclusion

Placing funds in a trading account and withdrawing them from a trading account is a simple, online process that is effected quickly to ensure timely withdrawals of capital and effective deposits of trading capital into trading accounts to give efficient access to global financial markets.

OvalX maintains a high standard of customer care and therefore has highly advanced systems to ensure that client funds are handled in the most secure and efficient manner.

 

Trade indices, forex, shares, and more with OvalX

OvalX is a powerful, advanced trading platform you can customise to trade your way. With us, you can trade across thousands of instruments - trade shares, commodities, and more online. Discover our desktop and mobile platforms and experience a seamless trading experience between devices.

Please note that the presented content refers to the Oval group which contains two legal entities: Monecor (London) Limited authorised and regulated by the UK Financial Conduct Authority (FCA) with Financial Services register number 124721. Monecor (Europe) Limited authorised and licensed under the Cyprus Securities and Exchange Commission (‘CySEC’) with license number 096/08.