ETX Capital Binary Broker Review

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ETX Capital

ETX No longer offer binary options.

They still offer forex and CFD trading.

Broker ETX Capital
Headquarters London, UK
Support Types Email, Telephone, Web Form
Languages Arabic, Chinese, Czech, Dutch, French, German, Hungarian, Italian, Polish, Portuguese, Romanian, Russian, Spanish and Turkish
Trading Platform Proprietary
Minimum 1st Deposit £/$/€200
Minimum Account Size £/$/€200
Minimum Trade Amount Minimum bet size of 50p (Subject to Margin Requirement)
Bonus Deposit match from 20% to 50% based on deposit size. Up to a maximum bonus of £5000
Regulator Financial Conduct Authority, UK
Deposit Methods Major Credit Cards & Wire Transfer
Trading Methods Spot Forex, CFDS, Classic Binary Options, 60 Second Options, Long Term Options, Pairs Options & Spread Betting
Number of Assets N/A
Asset Types Currencies , Commodities , Indices , Stock
Tablet Trading
Mobile Trading
Overall Score 92/100

Formerly known as TradIndex, ETX Capital is a cutting edge online trading services provider that is owned and managed by Monecor Ltd. Based in London UK, ETX Capital is regulated by the Financial Conduct Authority (FCA) under the registration number 124721. Operating since 2002, ETX Capital is no newcomer to the online trading industry. In fact the parent company, Monecor Ltd, has been around since 1965. With a single trading account, ETX Capital’s traders can trade with four different types of trading platforms with access to more than 6000 different instruments. While ETX Capital doesn’t offer their traders the benefits of social trading, they still have plenty to offer.

Trading Platform & Features

Unlike most other brokers, a key advantage to ETX Capital is the ability of traders to access 4 different types of trading platforms with just one trading account. With just a single trading account, traders on this platform can trade binaries with the ETXBinary platform, spread betting with ETX Trader and spot forex with TraderPro. For the more sophisticated traders, ETX Capital also offers them the benefits of the popular MetaTrader4 platform. The MT4 platform allows traders to customise their trading activities with expert advisors (EAs) leaving them with more free time to concentrate on their analysis of the markets.

In addition, all the above mentioned platforms are also mobile compatible. ETX Capital has made it easy for their traders to access their trading accounts from anywhere around the world with just a smartphone or mobile device by just downloading their free trading apps from Goole Play or Apple Store.

Markets Coverage

ETX Capital’s traders can access over 6000 different types of financial assets with their trading platforms. For Forex, the available leverage is now just 1:30 due to ESMA restrictions.

Trading Accounts
ETX Capital only offers one standard type of trading account for their traders. Opening a live trading account is a simple process and only requires a few clicks of the mouse. To makes things even easier, ETX Capital only require a minimum deposit of £/$/€200 depending on the currency chosen for the trading account. Demo accounts are also available in case traders wish to test out the trading platforms first before they commit any real money.

Customer Support
The standard of customer support at ETX Capital is to be commended. While the support services are not available 24/7, they are available in several major languages such as Arabic, Chinese, Czech, Dutch, French, German, Hungarian, Italian, Polish, Portuguese, Romanian, Russian, Spanish and Turkish. The only drawback with the support services is the lack of live chat. All requests for support have to be channelled through the email or through a toll-free Universal International Freephone Number (UIFN).

Spreads, Payouts & Bonuses
As for the spreads payable, traders can choose between fixed (ETXTrader) and variable spreads (ETXCapital & ETX MT4). The lowest spread starts from 0.7 pip for the popular EUR/USD pair. As for bonuses, they go up to as high as 60%. However, in order to qualify for the bonus, traders are required to place a minimum of £/$/€1000 in deposits.

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Conclusion
While this broker might not be the largest broker around, they still have a lot to offer to traders in terms of quality services. Apart form being able to trade with multiple trading platforms, traders at ETX Capital gets to enjoy ultra tight spreads as well as dedicated customer support.

ETXCapital.co.uk (.com) Review Visit site

Broker Details

Minimum Trade Size: 0.0001
Maximum Leverage: 300:1
Minimum to Open Live: $100
Established: 2002
Address: 1 Broadgate Circle, London , EC2M 2QS, United Kingdom
Contact: [email protected], +44 (0) 20 7392 1494
Regional offices:
Regulators: CySEC #096/08, FCA #124721
Prohibited countries:

Yes

Yes

Trading platforms: MT4, SaxoTraderPRO
Web Trading:
Mobile Trading:
Currencies: (55+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Other Precious Metals, Stocks, Bonds, Oil, Other Commodities

Yes

Scalping:
Deposit Methods: VISA, MasterCard, Maestro, Neteller, Skrill, UnionPay
Withdrawal Methods: VISA, MasterCard, Maestro, Neteller, Skrill, UnionPay

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Consumer Reviews

Service use: Live

Length of use: 0-3 Months

Beware of ETX Capital

I have deposited 1000 Euro and have 13641.93 Euro
generated. But ETX Capital embezzled the money. They call it Trade Adjustment.
I call that FRAUD.

Mar 19, 2020 – 1 Star ETX clears my profits: they call it Trade Adjustment —> ETX Capital is SCAM

Date: 09 March 2020
Time: 15:38:11 GMT
MT4 Account Login: 218489
Order no. : 12637341
Comment : Trade Adjustment
Amount : EUR 13641.93
Current Balance : EUR 1515.83
Current Equity : EUR 1515.83
Support Email : [email protected]
Best Regards
ETX Capital

The Mail from ETX:
Dear Mr X,

It is noted that you made a total profit of 13,000 EUR on 09 March 2020 on the DAX. However, having looked at each trade, it was discovered that the profit made on the trades was as a result of gaming which is considered improper behaviour under our Terms and Conditions.

Consequently, the total profit made on these trades is deemed void and therefore have been deducted off your trading account.

Beginner’s Guide to ETX Capital: Complete Review

ETX Capital is a well established and FCA regulated broker with over 50 years in business. The broker has a vast range of markets, industry-leading trading platform, and competitive spreads. They strive to deliver a versatile trading experience for clients and offers a range of educational resources.

ETX Capital provides its customers with access to highly competitive prices for over 6,000 different markets as well as support from its award-winning customer service teams. ETX Capital is based in London but has customer support in many countries.

Monecor (London) Limited is the company behind ETX Capital, which is a trading name of the former. Monecor (London) Limited has company number 00851820. The Financial Conduct Authority (FCA) authorizes and regulates it under the Financial Services Register number 124721. Monecor (London) Limited was established in 1965 and is also on the London Stock Exchange.

Please Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

ETX Capital at a Glance

Broker ETX Capital
Regulation FCA (United Kingdom)
Minium Initial Deposit
£100
Demo Account
Yes
Asset Coverage CFDs, ETFs, Forex, Cryptocurrency, Shares, Bonds Commodities, Indices
Leverage 30:1 Retail Clients 200:1 Professional Clients
Trading Platforms Proprietary Web, Windows Desktop, Mobile Apps, Meta Trader 4

ETX Capital Trading Instruments

When trading with ETX Capital, clients get access to thousands of markets which are tradeable. There is the choice of over 50 forex pairs in addition to Cryptocurrencies, commodities, equities, and financial indices. Commodities offered by ETX Capital include five metals, five energy, and nine soft commodities. In terms of equities, you can trade CFD stocks from the U.S., Australia, Singapore, South Africa, or 18 European countries.

Spreads & Leverage

ETX Capital prides itself on offering tight spreads with plenty of leverage. For forex, the spreads from ETX Capital start at just 0.6 pips for EUR/USD, a highly competitive rate. For equities, some stocks have indicative spreads of 0.08. Commodities have minimum spreads starting at 3 pips, and certain major indices have minimum spreads that start at 1 pip.

Many of the products from ETX Capital offer leverage rates of 100:1. Some of the MT4 products even offer leverage of up to 200:1 for professional clients and 30:1 for retail clients.

Accounts Types

Instead of offering separate types of accounts, ETX Capital offers two types of platforms to suit varying trading styles. These are its flagship ETX TraderPro and the ever-popular ETX MT4. Once you open your account with one of these platforms, it is still possible to trade on the other platform. To do so, just email the service desk. They will easily make trading on the other platform available to you since you have already gone through the security process during registration.

It is also possible to hold more than one account with ETX Capital, including one for each of the trading platforms. At any point, it is possible to hold five live accounts with ETX Capital. The broker can work with you if you need to hold more than five live accounts, but this requires a review by its compliance time. To create another account once you have already registered for one, just log into your account and go to the Profile section.

Demo Accounts

ETX Capital also offers demo accounts for each platform. To take advantage of this feature, go to the “Platforms” tab on the website. Then, choose the “Demo” option and follow the prompts. This will let you hone your skills and get used to the ETX Capital platforms without risking real money.

ETX Capital Deposits and Withdrawals

To add funds to your MetaTrader 4 account with ETX Capital, log in and click “Adds Funds.” This will take you through the process. To withdraw funds, log in, visit “Your Account” then click on “Withdraw Funds.” Fill in the required fields, which will include the amount. In some cases, you may need to give more documentation before withdrawals to prevent financial crime. It is also possible to transfer funds between your ETX Capital accounts. To do so, you will need to send an email to customer service that includes the account numbers for the transfer, the amount, your address, and your date of birth.

There is a minimum deposit of £100 or its equivalent in a different currency. You can make a deposit via a wire or bank transfer in GBP, USD, EUR, SGD, ZAR, SEK, RON, NOK, PLN, JPY, HRK, HKD, CZK, DKK, AUD, CAD, or CHF. This will take one working day for deposits and two to three for withdrawals. The same currencies and time periods apply to online bank transfers. You can also make a deposit with a major credit or debit card, other than AMEX. These have a general processing time of one working day and withdrawal arrival time of three to five working days. You can make the deposit with credit/debit cards in GBP, USD, EUR, CHF, CZK, DKK, ZAR, PLN, or NOK.

Those interested in e-wallets will find many options, as well, including China UnionPay, Skrill, Neteller, Sofort, and GiroPay. For each of these methods, there is a general processing time of one business day and a withdrawal arrival time of three to five business days. Sofort and GiroPay only allow deposits in EUR. Neteller and Skrill allow GBP, EUR, or USD. China UnionPay allows GBP, EUR, RMB, or USD.

For payment security, ETX Capital uses the 3-D Secure protocol, which is internationally accepted and adds a layer of security for debit and credit card transactions online. This is done by using XML messages that are sent over an SSL connection with the client authentication. This protocol is automatic, and you will notice that it typically requires you to add a code your bank provides via text or a password.

What Else Should You Know about Deposits and Withdrawals?

Keep in mind that you can only deposit funds into your ETX Capital account from a credit or debit card or bank account that is in your name; the broker does not allow for third-party funding. It is also worth noting that if you deposit funds into your ETX Capital account in a different currency, the broker will convert them using the spot rate from trading close on the previous day. This will increase the length of time it takes for the deposit to be credited.

Withdrawals always go back to the original source of the funds. If this is not possible, ETX Capital will need to first confirm that this is the case. From there, the Customer Service team will let you know the documents that you need to send. It is usually possible to withdraw back to a credit/debit card that has since expired, but if the issuer of your card refuses this payment, the above process will apply. If the funding bank account has been closed, or your credit/debit card was stolen, ETX Capital will need a letter from you detailing this as well as a bank statement for the preferred withdrawal method. You can cancel a withdrawal from your ETX Capital account via the specific withdrawal email address or by phone.

There are no withdrawal fees for the first five withdrawals each calendar month from ETX Capital, provided the withdrawals are at least $100. For withdrawals past this point, there is a fee of $10 per withdrawal. That same $10 fee applies to withdrawals below $100. The maximum withdrawal fee is $10, even if both conditions are met.

ETX Capital Fees

It should be noted that ETX Capital does charge an inactivity fee for accounts that are dormant. These are charged in per month and there are specific fees depending on the currency in question. You can view the fee for your account currency on the Payments page of the ETX Capital website. There are 31 different currencies, making it impractical to list them all. That the time of writing, some of the most common currencies with their inactivity fees include:

The broker also has overnight financing charges. For commodities, indices, and equities, the charge is (total position size x 3.5%)/365. In the case of a weekend roll, this charge only gets applied once although the underlying market spread is larger since you roll the position three days instead of one. For FX, the interest calculation depends on currencies in question. You can view full details of overnight funding and financing fees in the FAQ section of ETX Capital’s website.

ETX Capital Promotions

ETX Capital does offer promotions. These vary at any given moment, so the best way to discover the current promotions is to talk to your Account Relationship Manager. Promotions do expire, and you can check the expiration date of your promotion and how much of it you have earned so far by contacting customer support, either via email or phone.

ETX Capital Trading Platforms

To help clients trade on the go at their convenience, ETX Capital offers mobile trading platforms for Android and iOS devices in addition to the desktop platforms. Overall, there are two main platforms to choose from when trading with ETX Capital on a mobile device or desktop. Each of these is specialized and suits traders of a particular trading style.

ETX TraderPro has tight spreads and customizable trading charts. This makes it a great choice for accomplished traders who want to embrace risk to increase their chances of significant returns. This is the flagship platform from ETX Capital. It includes an assortment of charts and graphs, plus thousands of products to trade.

ETX TraderPro lets you choose from a range of charts and use various drawing tools to come to trading conclusions on your own, making it great for advanced traders. The platform is very direct, letting you open the chart for a product and trade on it right away to save time and reduce the risk of slippage. The platform includes a pip calculator tool and has drag-and-drop capabilities, so you can position trading deal tickets where you want. You can also create watch lists and view detailed information on any product via the platform.

Alternatively, clients of ETX Capital can trade on ETX MT4, the broker’s hosted MT4 platform. This platform makes it possible to bring a downloaded automated expert advisor. In addition, ETX MT4 lets you have multiple charts open at the same time, letting you access all the market info you need simultaneously. MT4 also supports micro lots and hedging. There is also the choice of using Virtual Private Server hosting on MT4, so you can ensure your copy signal providers and Expert Advisors work 24/7.

When you look at the trading boxes, you will notice rates displayed. These are quotes prices for assets. You should keep in mind that ETX Capital’s rates are not always the same as the exact market prices, with some variations of up to several pips. The rates listed, however, are those at which ETX Capital is willing to sell a given option for. On the trading platform, green shows a rise in price while red shows a fall in price for the rates.

How to Trade with ETX Capital

To begin placing a trade, you must log into your account. From there, the steps vary slightly depending on the platform you choose to use.

With ETX TraderPro, begin by choosing the product you want to trade then select “Trade” on the right. This will open a trading ticket that shows the current levels at which you can buy or sell. You can also set the quantity to trade. Adjust the amount then select “sell” in red or “buy” in blue.

With ETX Binary, click the product you wish to trade, which will automatically open the trading ticket. Your choices will depend on the Binary option’s nature. You may see buttons for “Call” and “Put” or options for “Up” and “Down,” along with numbers that change based on the current product price. There will also be a drop-down box that may offer expiration times for your trade. The form will ask you to input the amount you want to trade. As you update the information, the payout calculator will also update, letting you know your potential payout in the case of a successful trade. When you are happy with the form, select “Invest” and your trade will be placed.

With ETX MT4 begin by selecting “New Order” by the top trading bar. This will open a new window. There, click on the “Symbol” drop-down tab. There, you will select the product to trade. Then, enter the amount to trade and potential levels for a stop loss or take profit. From there, you can select the “Sell by Market” button in red or “Buy the Market” in blue.

To place an Order to Open, click on the “Order” tab, which will open a New Order window. Choose the level to buy or sell, adjust the other fields, and select “Place” to confirm the Order to Open. You can modify an Order to Open by opening your order book and clicking “Amend.” This will open a window called “Amend Order.” Make your changes and hit “Amend.” Keep in mind that slippage will sometimes occur, and it will not be possible for a limit or stop order to occur at the specific price you indicated. Stop Loss orders are not guaranteed unless this is agreed upon.

ETX Capital also makes it simple to find a minimum Stop Distance for your chosen market. Click on the market or find it via the search bar. Generate a new deal ticket by clicking “Trade.” Then, click “Advanced” and then “Stop.” Now, you can decrease the Stop level with the arrow keys. When you cannot decrease any more, this is the minimum Stop Distance.

On certain markets, ETX Capital also offers guaranteed stop losses. However, this will incur an added charge. That charge is displayed right on the deal ticket when you make your selection, so there are no hidden fees or surprises.

When Will ETX Capital Close Positions?

Sometimes, you may notice that a previously open position has been closed. This can happen due to a range of reasons, including that you had a Limit or Stop order set on the position, which was reached and executed. It is also possible that your position closed because of a margin call. Another possibility is that you traded on a futures contract that reached its expiration date. To avoid this problem, you can call ETX Capital before the contract expires to roll it over until the following expiration date.

If you notice the figure for your “Trade Funds Available” is negative, you can either close the current position or add funds to your account. If you do not act, the Risk Department may close or partially close your position.

How Do You Know Your Available Trading Funds?

You can determine your available trading funds by taking your liquidation value and subtracting the margin needed for open trades. When this figure is positive, it shows the quantity that you currently have available for trading. If it is negative, that is the amount you must deposit before having enough funds to trade again.

Can You Hedge with ETX Capital?

Sometimes, traders want to order two positions on the same market in opposite directions or hedge. This is allowed on the MT4 platform. On the ETX TraderPro platform, some instruments will offer this ability. If this is the case, you will notice the word “hedge” in brackets right next to the instrument’s name.

Minimum & Maximum Trade Sizes

The minimum deal size depends on the instrument. In most cases, you can trade from just 0.50 pips per point on a micro lot with CFDs or in the spread betting platform. The maximum deal size will also vary based on the platform that you choose to use. Typically, ETX Capital clients can place a deal of any size provided they have enough funds to cover the margin requirements for the trade. If you cannot enter a deal via the website and are unsure why, you can call ETX Capital. Keep in mind that the maximum deal size will sometimes change due to exceptional market conditions.

What Happens If You Do Not Trade in Your Account’s Base Currency?

ETX Capital converts your daily currency trades back into your chosen default currency automatically after midnight from Sunday to Thursday. If this automatic conversion does not occur, let ETX Capital know. In the future, you may need to let it know ahead of time whenever you want your balance converted.

Viewing Your Trade History and Open Trades

In MetaTrader 4, click on the tab for Account History within the Terminal Box. From there, you can right-click on “Account History” and choose the time period you want to view. If you cannot see the Terminal Box, you can open it by pressing CTRL+T.

You can view your overall loss or profit on a position with ease, as well. On ETX TraderPro, start by finding the “Open Positions” tab by the lower half of the screen. There, you should see the current positions, with each also featuring the time and date it was open. The information will also include the quantity sold or bought, the margin reserved, and the product price when opened plus the current price. Next to this information, there is a “P/L” column. Here, you will find the current profit or loss level. The figure is also color-coded, with the amount in white for profits and red for losses. To the right, you will spot buttons that let you view the product chart, engage in further trading on the product, close the trade, or create a new alert.

On ETX MT4, go to the terminal window on the MT4 platform to view open trades. It is typically by the bottom of the screen. If it is not visible, you can add it to your view by selecting the “View” menu by the top. Within the terminal window, select the “Trade” tab. This tab will display the open trades and current account balance. For each trade, you can view the relevant information, including time opened, size, type, symbol, and price. You can also select a particular trade, which will open a window that features options like the ability to close the trade.

ETX Capital Charts

ETX Capital does have several display styles that come with a range of various drawing tools to suit your needs. It is also possible to add various studies, then save your settings. Just click on the Chart icon on a given market. From there, you can select the Charts tab and click on Type to select the display style that you prefer.

Clients can also use the regular charts included. You will notice that ETX Capital keeps chart data for at least a day. The tick data for less than one-minute periods is stored for a day, and periods between one and five minutes are stored for two days. Periods between five and 30 minutes are stored for two weeks, and periods between one and four hours are stored for several months. The data for periods of one day and longer is stored forever. The daily candles on charges are automatically reset at midnight in the time zone of the local market. Daily price changes get applied at midnight in the London time zone. All prices get their basis from the official close of their underlying market.

You can change the style of a chart whenever you want. To do so, open the chart by clicking on the market or using the search bar. Then, select the Chart icon to open a new chart window. From there, you can click “Charts” and “Type” to adjust the style of the chart. It is also possible to open a chart in a new browser window. Just go to the top right corner of the chart window and click “Move to New Window,” which is an icon.

There are also numerous indicators available for ETX Capital charts. To add or remove the indicators, go to the “Studies” tab on your chart. Choose the indicator you want and adjust the settings. Then, click “copy” and close, and the indicator should appear on the chart.

You can customize charts with the tabs on the left and top of the window. If you want to save these customizations for the future, go to the “Settings” tab and select “Save Chart Settings.”

Other Trading Tools & Resources

ETX Capital has an entire section of its website dedicated to market analysis. There, you will find a range of articles focused on analyzing the market. You can browse the most recent ones or use the search function. There is also the ability to sort analysis by author or tags.

Educational Resources

ETX Capital covers a range of educational topics in its FAQ section. There, you will find such information as the purpose of limit orders and explanations of leverage. In addition to the information sprinkled throughout the FAQ section, ETX Capital also offers other education, via seminars, webinars, and an advanced education course. All of those resources are free for account holders. Although not always the case, many of the webinars are recorded, so you can view them on the education page later.

At the time of writing, there are 13 upcoming seminars and webinars listed on the education page of ETX Capital, all of which take place in the same month. That variety helps show that ETX Capital offers very frequent webinars. These are led by either an independent trader company or the expert in-house team from ETX Capital. All webinars indicate the subject, date and time, location (typically online), language (typically English), and whether there is still room available. You can click on a webinar to get even more information, including an in-depth summary of what will be covered. At the bottom of the page, you will find the form to register.

ETX Capital additionally offers a trader course that is run by an independent company and is comprehensive and geared toward clients. The program is completely free for ETX Capital clients, despite comparable programs typically costing well over $1,000. It includes an eight-hour program with monthly follow-ups for discussing trading strategies.

Competitors

ETX Capital is in competition with our similar brokers which have covered before, as follows:

ETX Capital Customer Support

The customer support from ETX Capital is multilingual, and the FAQ section on the company’s website is also available in more than 15 languages. Customer service is available in English, German, Spanish, Mandarin, Polish, and Czech. To contact customer support, visit the “Contact Us” section of the website. There, you will find contact information for both new and existing accounts. Existing accounts will see separate numbers for customer service and the trading desk. Those looking for a new account will find both a free phone number (within the UK) and an international number. This is also where you will find the physical address of ETX Capital and its fax number. The address is One Broadgate, EC2M 2QS, London.

ETX Capital also makes it a point to attend various trade shows worldwide. At these events, staff members will gladly meet clients, business introducers, and affiliates.

ETX Capital Awards

ETX Capital recently took part in the Online Personal Wealth awards 2020 and won “Best Trading Platform for Professionals” and “Best Trading Tools”.

Is ETX Capital Safe?

In addition to its regulation and authorization from the FCA, ETX Capital has many procedures in place to protect customer funds. There are daily security checks to confirm that the broker has sufficient regulatory capital constantly. Additionally, client funds are held separately from the company money, and this is done within investment-grade-rated UK banks.

Conclusion

ETX Capital is an international broker that offers clients access to trading CFDs for a range of assets. ETX Capital prides itself on delivering low spreads and excellent customer service to help the broker stand out from the competition.

ETX Capital’s web trading interface is excellent and very well designed, offering a range of tools and charts to help you make your trades. In addition to its own proprietary platform, this broker lets clients use a version of MetaTrader 4.

With ETX Capital’s long and distinguished history of over 50 years in business, plus the fact they are regulated by the FCA, you should feel absolutely confident choosing this broker.

Please Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

ETX Capital Review and Tutorial 2020

Go to the Brokers List for alternatives

ETX Capital Facts & Figures

ETX Capital are a London based, FCA regulated broker offering tight spreads across a wide range of markets. They offer professional client services to Pro clients. ETX are offering a FREE trading course to new clients, and free guaranteed stops on the TraderPro platform.

Trade 5 cryptocurrencies, and BTC against USD, GBP or EUR. Margin is tiered from 50%

Instruments CFD, Forex, Crypto, Stocks, Spreadbetting
Demo Account Yes
Min. Deposit £250
Min. Trade £1
Regulated By FCA
MT4 Integration Yes
Mobile Apps iOS and Android
Auto Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 1 pt
GBPUSD Spread 0.9
Oil Spread 0.06 pips
Stocks Spread From 0.5%
Forex
GBPUSD Spread 0.9
EURUSD Spread 0.6
EURGBP Spread 0.9
Assets 65+
Cryptocurrency
Spread BTC Market Spread + 10, ETH Market spread + 8
Coins BCH, BTC, ETH, LTC, XRP

ETX Capital is a reputable online trading brokerage with head offices in London. With decades of experience and a choice of trading platforms, the broker offers trading in Forex, CFDs and Spread Betting. This review of ETX Capital will examine all aspects of their offering, including trading fees, demo accounts and mobile apps, before finishing with a final verdict.

ETX also now offer a full professional clients service which is making them the ‘go to’ broker for professional clients since the ESMA regulatory changes.

ETX Capital Trading Platforms

Customers can choose between three trading platforms:

ETX Trader Pro

As the name suggests, this platform is geared towards experienced traders, or ‘pro’ accounts. As a result, you get a range of advanced features and comprehensive access to the financial markets.

In particular, TraderPro reviews highlight the sophisticated charting tools. This allows you to choose and view numerous charts in different time frames simultaneously. This means you could view Ichimoku, Heikin-Ashi and line charts all at once.

On top of that, once you have your client login details, you get straightforward access to historical data, volume indicators, guaranteed stops and more. In addition, the platform comes with a news feed so you don’t have to turn to the likes of Bloomberg to stay in the know.

Overall, opinions of ETX Capital’s TraderPro platform are positive. In fact, many believe it is up there in the rankings with the likes of the MetaTrader 4 and 5 platforms.

The Pro platform includes the professional client service which had made ETX a popular choice among full time traders.

The TraderPro platform also delivers free guaranteed stop losses. This a real bonus for traders who like to use stops to manage risk. The guaranteed stop ensure your trades are closed if the asset hits that price, regardless of the amount of price volatility.

ETX MetaTrader 4

There is also a free MT4 download. This is ideal for traders who are already familiar with the system and would prefer not to change. This industry standard promises a range of features and superb security. It can be used for trading everything from Bitcoin and oil to the FTSE 100 and Swiss francs.

The MT4 free download will work for hedging, scalping techniques and plenty of other strategies. Users also have the added bonus that there is a wealth of educational resources available to help them get the most out of the platform.

Some superior rivals are out there though:

Others

ETX Capital recently withdrew their binary options offering in the face of the changes suggested by the European regulator – ESMA. These prohibited the supply of binary options to retail investors in Europe. As a responsible broker, ETX have removed the product to all traders.

Minimum Initial Deposit

The minimum initial deposit is £100. This is relatively low for the industry, making the brokerage attractive to beginners with limited initial capital.

Note it is because ETX Capital is a market maker that entry requirements and minimum bet sizes are lower than traditional ECN brokers.

ETX do motivate traders to make a larger initial deposit by offering a free trading course to traders who deposit $1000 (or equivalent).

Spreads & Commissions

ETX Capital spreads are competitive. Forex spreads start from just 0.6 pips for popular currency pairs, such as the EUR/USD. Spreads for CFDs start from 0.5 pips, while minimum equity spreads are 0.08%. For those wishing to trade in commodities, spreads start at just 0.025 points. Finally, for indices, you can find spreads of just 1 pip.

Leverage

Trading on leverage can be an effective way to capitalise on market opportunities. For FX trading, leverage extends to 1:30. For commodities, leverage is 1:10, while for equities and indices leverages span from 1:5 to 1:10.

It’s also worth highlighting that trading on margin does come with risks. If you’re not careful, a margin call could promptly require a payment in excess of your initial deposit.

Note margin requirements vary with fluctuations in exchange rates. Also, you may be able to change your personal leverage limits by contacting ETX Capital, or registering as a ‘professional’. Regulatory guidelines cap leverage, but only apply to retail investors, not professionals. Leverage for professional accounts can reach 1:300.

Other Trading Fees

There are certain fees to be aware of before you sign up for an account with ETX Capital. For example, there are overnight rollover fees and charges, which will depend on your position size and instrument. See the official website for a break down of rolling daily charges.

In addition, there is a monthly dormant account charge if you have not made any trades in over 365 days. But if you do decide to return to the platform, ETX Capital will refund you the last three months of inactivity fees.

Deals & Promotions

Recent regulatory changes have meant that ETX Capital have withdrawn many of their deposit bonus offers. Incentives now focus on ‘adding value’ for traders, so for example a deposit of any size will secure a free trading course and similar perks. This previously required a $1000 deposit, so is a useful offer to take advantage of. Visit the ETX Education pages to see the current list of free etx webinars.

Mobile Apps

An increasing number of individuals intraday trade directly from their mobile devices. So, is ETX Capital good in terms of mobile trading apps? Customer reviews would suggest yes. Mobile trading apps are available with all 3 trading platforms for iPhone, iPad and Android devices.

The app interface is sleek and straightforward to navigate. You get access to 5000 markets and you can enter and exit positions using price alerts, real-time charts, one-touch trading and a range of custom indicators.

In fact, results from user reviews point to the binary mobile app as among the best in the industry. For example, bringing up an energy stock quote and entering a position takes but a few seconds. Furthermore, mobile apps are kept secure with encryption and fast touch ID log-in. Finally, you can manage risk with trailing stop losses and limits.

Overall then, if you conduct research or trade from your mobile device, ETX Capital could certainly meet your mobile app needs.

ETX Methods of Payment

Deposits

Once you sign up for an account, you will need to add funds before you can start trading. Fortunately, there are a number of options for depositing and withdrawing funds, including:

  • Bank Wire Transfer
  • Credit & Debit Cards
  • China UnionPay
  • Giropay
  • Neteller
  • PayPal
  • Skrill
  • Sofort

Withdrawals

You can view your current account value from within your account area and then decide whether you want to withdraw some of your capital.

Reviews for withdrawing funds are positive for three reasons:

  1. You can use any of the same methods used for funding your account.
  2. There is no minimum withdrawal. Having said that, you will incur a fee if you withdraw less than £100 of your revenue.
  3. Withdrawal times are fast. The quickest method is wire transfer which takes between 2 to 3 business days. All alternative methods will take between 3 to 5 working days.

Contact customer support if you have any withdrawal problems.

ETX Capital Accounts

ETX Capital offer a couple of account types. The standard live trading account, offers traders of all experience levels the same levels of features and tools, as long as they can make the £100 initial minimum deposit. Clients signing up as ‘Pro’ clients will also enjoy the professional client service which offers larger leverage and access to investment types not available to retail traders.

To qualify as a professional trader, ETX require traders meet 2 of the following three criteria:

  1. Over €500k of liquid assets excluding your house of residence if you own it.
  2. Relevant experience in financial services.
  3. Traded at least 10 times in each of the last 4 quarters

There are also some perks for larger deposits, such as free trading courses and similar offers and deals.

Note ETX Capital does not offer a swap-free account for Islamic traders.

Demo Account

Although there is just a single live trading account, there is also a free demo account. You can get an MT4 demo account. Alternatively, you can opt for an ETX TraderPro account. Once you have your demo login details, you can then trade stocks on the Dax 30, for example, with virtual cash.

Practice accounts are a fantastic opportunity to build confidence and develop strategies. Then when you have gained experience, you can close your forex demo account from within your account area and upgrade to real-time trading.

A Brief History

Before taking a look at customer trading reviews, here is a brief overview of the company: ETX Capital is owned and managed by Monecor (London) Limited. In 2007, the group was acquired through a joint venture from the private equity investment firm JRG Group and the BXR Group.

But although the parent company’s history dates back to 1965, ETX Capital only came to life in 2002 and is relatively unknown. This is because the owner and board of directors previously focused their attention on institutional traders and high net worth individuals.

However, the partners and directors have seen considerable success since opening their doors to average traders. Firstly, they have become an FCA regulated FX broker. The broker went online in 2020 and hit the news with the acquisition of the Alpari network in 2020.

The ETX Capital Group were quick to facilitate a smooth transition for existing Alpari customers with a dedicated helpline and the installation of MetaTrader 4 (MT4) servers. As a result, user ratings went up along with share price and turnover.

Finally, for those observers wondering what the meaning behind the ETX acronym is:

  • Electronic Trading
  • Telephone Trading
  • Execution Services

Additional Features

Many reviews suggest the best part of the ETX Capital offering is the range of additional resources. These include:

  • Sentiment Mapper – Spread betting and FX clients can see how other ETX Capital traders have been trading. For example, you can see whether people are taking a bullish or bearish stance. Also, if you want to take a position on gold or oil, you could head over to an interactive chart and see which direction other traders are moving. Used correctly, this may help you capitalise on trends and boost your salary.
  • Education – The broker offers a vast range of free educational resources. This includes training modules, downloadable files, video commentary and more. All of which can help you with everything from basic definitions to implementing complex strategies.
  • Automated trading – The MT4 platform allows for APIs and extensions so you can enlist the services of trading robots and EAs.
  • Award Winning – ETX have picked up 4 awards already in 2020, the most recent being Best Online Trading Platform at the ‘Shares’ magazine awards.

Regulation & License

As forex and cfd broker reviews show, finding a trustworthy exchange is becoming increasingly important. This is a result of a growing number of scams and fraudulent brokers. Fortunately, a quick company check shows ETX Capital has regulatory oversight from the FCA, with Financial Services register number 124721.

Because they are regulated, compliance with a number of measures to protect consumers have to be met. This should put intraday traders at ease that ETX Capital is a legitimate broker, concerned about customers as well as their dividends.

Benefits

ETX Capital stands out in several areas:

  • No dealing desk – ETX Capital is a no dealing desk broker. As a result, you may benefit from straightforward and direct trade access, plus low costs.
  • Rebates – FX traders may be eligible for a cash back rebate on every trade they make. In addition, user reviews report relatively low problems with slippage.
  • Demo account – Prospective forex, CFD and spread betting users get access to a demo account. This is a great tool for building confidence and test driving ETX Capital’s software.
  • Trading tools – Customer reviews praise the range of tools on offer from the industry leading platforms. You get advanced charts, one-click trading, plus a range of technical indicators.
  • Market choice – There is no shortage of products and instruments to choose from. As a result, the broker is a sensible choice for both beginners and veterans.
  • Competitive spreads – Take ETX Capital vs IG Index, NinjaTrader or Plus500 and you realise the former promises attractive prices for active traders.
  • Education – There is an array of free educational material available to traders, including seminars, tutorial videos, user guides and manuals. These resources can prove particularly useful for novice traders.
  • International accessibility – Broker reviews are quick to point out customers from all over the world can trade with ETX Capital. That includes users from Australia, Ireland, Germany, Spain, India, and Indonesia. However, traders from the USA are not accepted.
  • Pro Clients – Professional Client Service. Offering higher leverage, more control over closed trades and more trading options.

Drawbacks

Despite notable advantages, customer reviews also underline several downsides to the ETX Capital offering:

  • Limited account options – There have been some complaints about the limited account options. Just one standard account means there are no financial incentives and benefits for traders with significant capital.
    Complex navigation – The website can be unnecessarily challenging to navigate, especially when compared with some competitors. This can all detract from the overall user experience.
  • Negative balance protection – There are other brokers who do more in terms of negative balance protection for customers. It would be reassuring to see the CEO do more to protect users in this way.
  • No live chat – Whilst most competitors offer live chat support, ETX Capital offers only telephone and email support.
  • No localised telephone support – ETX Capital does not have localised telephone support numbers for international clients. As a result, traders from Dublin will be contacting the same number as those from Dubai.

ETX Capital Trading Hours

On the whole, ETX Capital opening hours are around the industry norm. For example, the TraderPro platform is open for forex trading between 22:00 GMT Sunday through until 21:55 GMT Friday.

However, specific product trading times can vary in response to changes in liquidity. In addition, Christmas trading hours and other holidays will affect opening hours. See the official website for upcoming holiday hours.

Contact & Customer Support

Customer reviews of ETX Capital were mixed in terms of the customer support on offer. On the positive side, you have access to email and telephone support. See the Contact Us section on the website for the relevant telephone contact number and email address.

The ETX Capital customer service is provided in a long list of languages, including English and South African

User reviews show they can help you with everything from binary login details and forgotten passwords to pip calculators and guidance when the website is down.

You can also head to their Support and FAQ section. Here you will find answers and discussions around most common problems.

On the downside, support is not available 24/7, like some competitors, but instead runs from 07:30 to 21:00 GMT Monday to Friday. In addition, there is no live chat support, despite some competitors now offering live video chat services.

Overall then, there are several customer services open to users. However, beginners who want a hands-on live chat or video support may want to look at alternatives.

Safety & Security

ETX Capital expressly state how serious they take personal security. In fact, they have a Security Officer to ensure privacy policies and legislation are met. Furthermore, the broker utilises advanced encryption technologies and firewalls. On top of that, client funds are kept segregated in tier-1 banks.

ETX Capital Verdict

So are ETX Capital any good? Well, forex, CFD, spread betting and binary options reviews suggest yes. With extensive experience, powerful trading tools and an unlimited demo account, ETX Capital makes for a worthy broker contender. In particular, if you’re looking for reliability and integrity, a long list of awards helps demonstrate ETX Capital may be the right choice.

For additional guidance and other options, see our brokers list.

Accepted Countries

ETX Capital only accepts traders from United Kingdom.

ETX Capital

Rating Payout Min Deposit Bonus Regulated
» Visit
100% £200

Yes Payout: 100% Min Deposit: £200 Bonus: Regulated:

Yes

London based ETX Capital represent one of the ‘new breed’ of binary operators. Primarily a spread betting and CFD (Contracts for Difference) brokers, they have added binary options to their portfolio. They provide an excellent trading platform and due to them providing CFD trading in the UK, are fully regulated by the Financial Conduct Authority (FCA) Number 124721. While binary options are yet to fall under the authority of the FCA, it is good to know the firm themselves comply due to the CFD element of the business.

Here is how ETX view themselves; “We believe that ETX Capital offers traders a wide variety of benefits that many of our competitors may find hard to match.”

  • Minimum Deposit – £200
  • Minimum trade – £10
  • Demo Account – Yes
  • Signals service – No.
  • Mobile App – Yes. Compatible across android, iOS (iPhone and iPad) and windows devices.

Trading Platform

ETX operate a specific Binary platform, with it’s own login. The first thing of note is that it is closed entirely while global markets are closed – there are no “randoms” or other virtual markets to entice clients to over trade.

ETX Capital also offer CFDs and Forex trading, those platforms are covers in more detail in DayTrading.com’s ETX Review.

The left hand side of the trading platform is the asset and options list. ETX provide the usual mix of assets – Forex, Indices, Commodities and Stock. The lists are extensive, with all major FX pairs covered. On certain option types (‘Long term’ for example), the asset lists will shorten as not all markets are available across all option types.

Once the option and asset have been selected, the price graph will update on the right of the screen. From here, the expiry can be adjusted too, with incremental expiries available, plus ‘end-of-day’ expiry times. The stake level is above the price graph, with preset buttons available to quicken the trading process.

The Call and Put buttons are clear, with the strike price illustrated between the buttons. Once highlighted, trader simply click on ‘Invest’ to confirm the trade. Once open, a trade will appear in the ‘Open Positions’ screen below the trading platform. The price graph will also show the current status of the trade, with either a blue (in the money) box or a red (out of the money) box highlighting the current direction of the trade.

In the Open positions window, traders are offered a ‘Sell’ value for their trades. This can be used to cash in profitable positions, or to reduce loses on trades which have moved against the trade. Traders can login at any time to view their current positions and sell them if they want to.

Trader choice

As well as more traditional options, ETX Capital also offer the ‘Spread High/Low’ which at present, is unique to them;

  • High/Low – The traditional binary – will the asset price be higher or lower than the current strike price at expiry?
  • Short Term – The same concept as High/Low but these options have very short expiry times. At ETX, they are generally 60 second or 2 minute expiries.
  • One Touch – ETX provide both high and low ‘touch’ prices. These finish ‘in the money’ immediately if the price level is reached or surpassed. The is no ‘No touch’ option however. Volatility therefore plays a key role.
  • Spread High/Low – Unique to ETX Capital, these options have strike prices slightly above, or below the actual current price level. Beyond that, they behave just as a standard High/Low option. The difference is that the payout on the spread option is 100% – ETX can do this because their “spread” is covered by moving the strike price. It is a nice innovation, which some traders will enjoy.
  • Long Term – Again, the trades behave as a standard High/Low, but these have longer expiry times. At ETX, these are generally the end of the month (the end of the last trading session of the calendar month).

The range of assets is excellent and the option types are good – some additional expiry times within the long term range, and perhaps adding Ladder or boundary options, would mean ETX compete with the very best for trading choice.

ETX Capital Mobile App

The mobile app has been separated from the CFD trading app, to focus purely on binaries. Available on Android (v3.0.0 and up) and iOS, the application delivers the same look and feel as the website, and all of the functionality. All assets and trade types are on offer from the mobile platform, as are trade history and account management features.

The mobile app is available free to all ETX customers. The download is quick and simple, and traders can login and trade quickly.

Payout

Payouts at ETX can reach 100%. This is due to the ‘Spread High/Low’ option, where the profit margin of the broker is built into the strike price “spread”. They can therefore afford to pay 100% on in the money trades. Elsewhere, payout are generally 75% or 80% – where assets are more popular, the payouts tend to be higher. The levels are certainly very competitive. Payouts will always vary based on the asset and expiry time, but ETX certainly tend to be at the higher level in comparison with rivals, and the ‘Spread High/Low’ trades give them an eye-catching headline payout.

ETX Spreads

Withdrawal and Deposit Options

As a broker that is regulated by the FCA, ETX Capital have strict controls on deposit and withdrawal methods, and this in turn, ensures greater protection for the trader and their funds.

There is a £100 minimum deposit requirement at ETX, though you must have sufficient funds in your account to open trades. The amount required will depend on the asset, and expiry.

Deposits can be made via debit or credit card but these must be in the name of the individual (not a commercial card for example). Wire bank transfers are accepted, again they must be in the same name as the individual on the trading account. Deposits can be made via exactly the same options over the mobile apps. ETX accept deposits in a broad range of currencies, including GBP, USD, EUR, ZAR, SGD, SEK, RON, PLN, NOK, JPY, HRK, HKD, DKK, CZK, CHF, CAD, AUD.

Withdrawals are a positive at ETX. Bank transfers should be process in 2 or 3 days – withdrawals to a debit or credit card will take a day longer. There no fees for withdrawals – unless traders make of 5 requests in a single calendar month. Any withdrawals over 5 within a month will incur a £10 charge.

There is also a £15 charge per month for ‘dormant’ accounts. An account is deemed dormant if there are funds in it, but no trades have been placed over 120 days.

Other Features

ETX offer a broad range of additional benefits:

  • MT4 Platform – A great platform for advanced traders and technical analysis investors. Seamless integration on this popular platform.
  • Huge Range Of Markets
  • Tight Spreads – ETX offer some very competitive spreads compared to rival CFD and Forex brokers.
  • Training Materials – Including webinars, which are very popular among users, and very helpful.
  • Excellent Reputation – ETX generate very few complaints, and enjoy high satisfaction ratings from their user base.
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