FNG Exclusive… FNG has learned that some major changes are afoot at Monecor (London) Limited, the FCA licensed entity that operates the OvalX online trading brand.
First, some quick background.
Monecor was acquired in late 2020 by Swiss fintech investment firm Guru Capital SA, run by ex Swissquote executives Ryan Nettles and Luca Merolla, with backing from US venture capital firm Jump Capital. Monecor then operated the Retail FX and CFDs brand ETX Capital. In mid 2021 the group acquired Italy-based savings app Oval Money, and since has worked on merging the two businesses, eventually deciding last year to rebrand the entire business as OvalX. Late last year Guru partner Read More