ETX Capital is a legitimate online trading brokerage with head offices in London. With many years of involvement and a choice of trading platforms, the broker offers trading in Forex, CFDs, and Spread Betting. This audit of ETX Capital will inspect all parts of their contribution, including trading charges, demo accounts, and portable applications, prior to coming to a final decision.
ETX likewise now offers a full professional customers administration which is making them the ‘go to’ broker for professional customers since the ESMA regulatory changes.
ETX Capital Trading Platforms
Customers can pick between three trading platforms:
ETX Trader Pro
As the name recommends, this platform is outfitted towards experienced traders or ‘pro’ accounts. Accordingly, you get a scope of cutting-edge highlights and extensive admittance to the financial markets.
Specifically, TraderPro surveys feature sophisticated charting tools. This permits you to pick and view various charts in various time periods at the same time. This implies you could look at Ichimoku, Heikin-Ashi, and line charts at the same time.
On top of that, when you have your customer login subtleties, you get direct admittance to historical information, volume indicators, guaranteed stops, and that’s only the tip of the iceberg. Moreover, the platform accompanies a news channel, so you don’t need to go to any semblance of Bloomberg to remain up to date.
Generally speaking, assessments of ETX Capital’s TraderPro platform are positive. Indeed, many trusts it is up there in the rankings with any semblance of the MetaTrader 4 and MetaTrader 5 platforms.
The Pro platform incorporates professional customer administration, which had settled on ETX, a well-known decision among full-time traders.
The TraderPro platform additionally conveys free guaranteed stop losses. This is a genuine bonus for traders who like to utilize stops to oversee risk. The guaranteed stop ensures your exchanges are shut if the resource hits that price, paying little heed to the measure of price volatility.
ETX MetaTrader 4
There is additionally a free MT4 download. This is ideal for traders who are as of now acquainted with the framework and would rather not change. This industry-standard promises a scope of highlights and sublime security. It might be utilized for trading everything from Bitcoin and oil to the Swiss francs and FTSE 100.
The MT4 free download will work for scalping procedures, hedging, and a lot of different methodologies. Clients likewise have the special bonus that there is an abundance of instructive assets accessible to assist them with benefiting from the platform.
Some prevalent adversaries are out there.
ETX Capital, as of late, pulled out their binary choices offering notwithstanding the progressions proposed by the European regulator – ESMA. These prohibited the stockpile of binary choices to retail investors in Europe. As a capable broker, ETX has taken out the product to all traders.
Minimum Initial Deposit
The minimum initial deposit is £100. This is generally low for the industry, making the brokerage alluring to fledglings with restricted initial capital.
Note it is on the grounds that ETX Capital is a market producer that passage necessities and minimum bet sizes are lower than customary ECN brokers.
ETX does persuade traders to set aside a bigger initial installment by offering a free trading course to traders who deposit $1000 (or the same).
Spreads and Commissions
ETX Capital spreads are serious. Forex spreads start from simply 0.6 pips for well-known currency pairs, like the EUR/USD. Spreads for CFDs begin from 0.5 pips, while the least equity spreads are 0.08%. For those thinking to trade in commodities, spreads start at simply 0.025 points. At long last, for indices, you can discover spreads of only 1 pip.
The broker has likewise carried out a line of commission-free stocks, including Tesla and Amazon. These fee-free CFDs are accessible to all live account holders and permit investors to hypothesize on major players on the international stage at no expense.
Trading on leverage can be a successful method to capitalize on market openings. For FX trading, leverage stretches out to 1:30. The leverage is 1:10 for commodities, while for equities and indices, leverages length from 1:5 to 1:10.
It’s additionally worth featuring that trading on margin accompanies risks. In case you’re not cautious, a margin call could promptly require payment in overabundance of your initial deposit.
Note margin prerequisites change with fluctuations in exchange rates. Likewise, you might have the option to change your own leverage restrictions by reaching ETX Capital or enrolling as a ‘professional’. Regulatory rules cap leverage. However, apply to retail investors, not professionals. Leverage for professional accounts can come to 1:300.
Other Trading Fees
There are sure fees to know about before you pursue an account with ETX Capital. For instance, there are, for the time being, rollover fees and charges, which will rely upon your position size and instrument. See the authority site for a breakdown of moving day-by-day charges.
Furthermore, there is a month-to-month dormant account charge on the off chance that you have not made any trades in more than 365 days. Be that as it may, in case you choose to get back to the platform, you will get a refund from ETX Capital for the most recent three months of latency fees.
Deals and Promotions
Ongoing regulatory changes have implied that ETX Capital has withdrawn a significant number of its deposit bonus offers. Incentives currently center around ‘adding value’ for traders, so for instance, a deposit of any size will get a free trading course and comparative perks. This recently required a $1000 deposit, so it is a helpful proposal to exploit. Visit the ETX Training pages to see the current rundown of free ETX webinars.
An expanding number of individuals intraday trade directly from their mobile gadgets. All in all, is ETX Capital good as far as mobile trading apps? Customer audits would recommend yes. Mobile trading apps are accessible with every one of the 3 trading platforms for iPhone, iPad, and Android gadgets.
The app interface is sleek and clear to explore. You gain admittance to 5000 markets, and you can enter and leave positions utilizing price cautions, one-touch trading, real-time charts, and a range of custom pointers.
Truth be told, results from client audits point to the binary mobile app as among the best in the industry. For instance, raising an energy stock quote and entering a position requires a few seconds. Moreover, mobile apps are kept secure with encryption and quick touch ID sign-in. At last, you can oversee risk with trailing stop misfortunes and cutoff points.
By and large then, at that point, on the off chance that you lead examination or trade from your mobile gadget, ETX Capital could unquestionably meet your mobile app needs.
ETX Methods of Payment
When you pursue an account, you should add funds before you can begin trading. Luckily, there are various alternatives for depositing and pulling out funds, including:
- Bank Wire Transfer
- Credit and Debit Cards
- China UnionPay
You can see your current account value from inside your account region and afterward choose whether you need to pull out a portion of your capital.
Surveys for pulling out funds are positive for three reasons:
- You can utilize any of the similar methods utilized for financing your account.
- There is no least withdrawal. Having said that, you will draw a fee on the off chance that you pull out under £100 of your revenue.
- Withdrawal times are quick. The quickest method is wire transfer which needs between 2 to 3 workdays. All elective methods will take between 3 to 5 working days.
Contact customer support in the event that you have any withdrawal problems.
ETX Capital Accounts
ETX Capital has a few account types. The standard live trading account provides traders of all experience levels with similar degrees of highlights and devices, as long as they can put aside the £100 initial minimum installment. Clients joining as ‘Pro’ clients will likewise partake in the professional-client administration, which offers bigger leverage and admittance to investment types not accessible to retail traders.
To qualify as a professional trader, ETX requires traders to meet 2 of the accompanying three criteria:
- Over €500k of liquid assets keeping out your place of home in the event that you own it.
- Applicable involvement with financial administrations.
- Traded somewhere around 10 times in every one of the last 4 quarters.
There are additionally a few perks for bigger deposits, for example, free trading courses and comparative offers and deals.
Note ETX Capital doesn’t offer a swap-free account for Islamic traders.
Though there is only a solitary live trading account, there is additionally a free demo account. You can get an MT4 demo account. Then again, you can pick an ETX TraderPro account. When you have your demo login subtleties, you would then be able to trade stocks on the Dax 30, for instance, with virtual cash.
Practice accounts are a fabulous chance to construct certainty and foster strategies. Then, at that point, when you have acquired insight, you can close your forex demo account from inside your account region and move up to real-time trading.
A Brief History
Prior to taking a glance at client trading audits, here is a brief outline of the company: ETX Capital is possessed and regulated by Monecor (London) Limited. The group was acquired in 2007 through a joint endeavor from the private equity investment firm JRG Group and the BXR Group.
In any case, although the parent company’s history dates back to 1965, ETX Capital just came to life in 2002 and is relatively obscure. This is because the proprietor and board of directors recently concentrated on institutional traders and high-net-worth individuals.
Notwithstanding, the partners and directors have seen considerable accomplishment since making their ways for average traders. Initially, they have become an FCA-regulated FX broker. In 2014, the broker went online and hit the news with the acquisition of the Alpari network 2015.
The ETX Capital Group rushed to facilitate a smooth transition for existing Alpari customers with a dedicated helpline and the installation of MetaTrader 4 (MT4) workers. Thus, client ratings went up along with share price and turnover.
Finally, for those eyewitnesses considering what the meaning behind the ETX acronym is:
- Electronic Trading
- Telephone Trading
- Execution Administrations
Many audits recommend the best part of the ETX Capital contribution is the range of additional assets. These include:
- Sentiment Mapper – Spread betting and FX customers can perceive how other ETX Capital traders have been trading. For example, you can see whether individuals are taking a bullish or bearish stance. Also, assuming you want to take a place on gold or oil, you could head over to an interactive chart and see which different bearing traders are moving. Utilized accurately, this may assist you with capitalizing patterns and lift your salary.
- Education – The broker offers a vast range of free educational assets. This incorporates training modules, downloadable records, video commentary, and more. All of which can assist you, including basic definitions to executing complex strategies.
- Automated trading – The MT4 platform allows for APIs and augmentations so you can enlist the administrations of trading robots and EAs.
- Award-Winning – ETX has gotten 4 awards already in 2021, the latest being Best Online Trading Platform at the ‘Shares’ magazine awards.
Regulation and License
As forex and CFD broker audits show, tracking down a reliable exchange is becoming progressively significant. This is an aftereffect of a developing number of scams and fraudulent brokers. Luckily, a speedy company check shows ETX Capital has administrative oversight from the FCA, with Financial Services register number 124721.
ETX Capital has additionally, as of late, acquired a license with the Financial Services Conduct Authority (FSCA) in South Africa, now providing completely managed and regulated spread betting and CFDs trading openings there.
Since they are managed, compliance with various measures to protect shoppers must be met. This should reassure intraday traders that ETX Capital is a legitimate broker, worried about customers just as their dividends.
ETX Capital hangs out in a few regions:
- No dealing desk – ETX Capital is a no dealing desk broker. Thus, you might profit with straightforward and direct exchange access, in addition to low expenses.
- Rebates – FX traders might be eligible for a cashback refund on each exchange they make. Furthermore, client surveys report somewhat low problems with slippage.
- Demo account – CFD, prospective forex, and spread betting clients gain admittance to a demo account. This is an extraordinary tool for building certainty and test driving ETX Capital’s product.
- Trading tools – Customer audits praise the range of tools on the proposal from the business leading platforms. You get progressed charts, one-click trading, in addition to a range of specialized indicators.
- Market choice – There is no deficiency of products and instruments to browse. Therefore, the broker is a reasonable choice for the two novices and veterans.
- Competitive spreads – Take ETX Capital versus IG Index, NinjaTrader, or Plus500, and you understand the previous promises of alluring prices for dynamic traders.
- Education – There is an array of educational material without any charge accessible to traders, including seminars, instructional exercise recordings, client guides, and manuals. These assets can prove especially valuable for novice traders.
- International accessibility – Broker surveys rush to call attention to customers from everywhere the world can exchange with ETX Capital. That incorporates clients from Australia, Ireland, Germany, Spain, India, and Indonesia. Be that as it may, traders from the USA are not accepted.
- Pro Clients – Professional Client Service. Offering higher leverage, more authority over shut exchanges, and additional trading options.
Notwithstanding notable benefits, customer surveys likewise underline a few downsides to the ETX Capital contribution:
- Limited account options – There have been a few complaints about the limited account options. Only one standard account implies there are no financial incentives and benefits for traders with significant capital.
- Complex navigation – The site can be pointlessly difficult to navigate, particularly when compared to certain competitors. This can all take away from the overall client experience.
- Negative balance protection – There are different brokers who accomplish more as far as negative balance protection for customers. It is consoling to see the CEO does more to protect clients along these lines.
- No live chat – While most competitors offer live chat support, ETX Capital offers just telephone and email support.
- No restricted telephone support – ETX Capital doesn’t have localized telephone support numbers for international clients. Subsequently, traders from Dublin will contact a similar number as those from Dubai.
ETX Capital Trading Hours
In general, ETX Capital opening times are around the business norm. For instance, the TraderPro platform is open for forex trading between 22:00 GMT Sunday through until 21:55 GMT Friday.
In any case, explicit product trading times can differ because of changes in liquidity. Also, Christmas trading hours and other occasions will influence opening times. See the authority site for upcoming occasion hours.
Contact and Customer Support
Customer surveys of ETX Capital were blended as far as the customer support on offer. On the positive side, you have access to telephone and email support. See the Contact Us segment on the site for the important telephone number and email address.
The ETX Capital customer service is offered in a long rundown of languages, including English and South African.
Client audits show they can assist you, including binary login subtleties and forgotten passwords to pip number calculators and direction when the site is down.
You can likewise make a beeline for their Support and FAQ segment. Here you will discover answers and conversations around the most common problems.
On the downside, support isn’t accessible every minute of every day, similar to certain competitors. However, it rather runs from 07:30 to 21:00 GMT Monday to Friday. Also, there is no live chat support, notwithstanding a few competitors now offering live video chat services.
In general, then, at that point, there are some customer services open to clients. Be that as it may, newcomers who need an active live chat or video support might need to take a look at alternatives.
Safety and Security
ETX Capital explicitly states how genuine they take individual security. Truth be told, they have a Security Official to guarantee protection strategies and legislation are met. Moreover, the broker uses progressed encryption technologies and firewalls. What’s more, client reserves are kept segregated in level 1 banks.
ETX Capital Verdict
So are ETX Capital any great? All things considered, forex, CFD, spread betting, and binary options audits propose yes. With broad experience, incredible trading tools, and an unlimited demo account, ETX Capital makes for a commendable broker contender. Specifically, in case you’re searching for dependability and integrity, a significant rundown of awards exhibits ETX Capital might be the right choice.
For extra direction and different options, see our brokers list.
ETX Capital just acknowledges traders from United Kingdom, South Africa.
Alternatives to ETX Capital
In case you are searching for alternatives to ETX Capital, we have compiled a rundown of the best 5 brokers that are like ETX Capital beneath. This rundown of brokers like ETX Capital is arranged by similitude and just incorporates companies that acknowledge traders from your area.
Markets.com – Markets.com offers CFDs across a colossal range of assets from shares and indices to commodities and cryptocurrencies.
IG Group – IG offer spread betting, CFD, and Forex trading across a range of markets. They are FCA-directed, boast an extraordinary trading application, and have a 40 years long history of greatness.
FXPro – Multi-Award winning broker. Represents considerable authority in Forex yet, in addition, offering stocks and tight spreads on CFDs and Spread betting across an immense range of markets.
Ayondo – Ayondo offers trading across a tremendous range of markets and assets. They likewise offer negative balance protection and social trading.
Forex.com – Forex.com owns a worldwide standing. Directed in the UK, US and Canada they offer an enormous range of markets, not only forex, and offer exceptionally tight spreads and a cutting edge platform.