ETX Capital Review
Established in 2002, ETX Capital is an online financial trading platform that is owned and managed by UK based Monecor Ltd. The parent company was founded in 1965 and is based in London. Their head office is located at One Broadgate, London, England, EC2M 2QS. The company is also a member of the London Stock Exchange. ETX Capital was initially established as TradIndex until 2007 when it was relaunched as ETX Capital. Since then, the broker has expanded its product and service offerings to cover several international markets.
ETX Capital Video Review
VIDEO ETX Capital Regulations
As a financial services provider based in the UK, ETX Capital’s operations come under the jurisdiction of the UK’s Financial Conduct Authority (FCA). Its registration with the FCA is #124721. The FCA is a leading financial regulatory authority in Europe and is highly regarded by those in the financial industry. It offers strict regulatory oversight and requires firms under its jurisdiction to abide by strict regulatory requirements such as having segregated accounts for the clients’ funds and having adequate liquidity to cover the broker’s contractual obligations. More importantly, clients of an FCA regulated broker are also protected under the Financial Services Compensation Scheme (FSCS
(. ETX Capital Reliability
In terms of ETX Capital reliability, the broker has been recognized by the industry for providing quality services. For example, in 2017, it has been recognized for providing excellent forex education by the 2017 UK Forex Awards and 2017 Shares Awards. In 2018, the broker was nominated for having the “Best Trading Platform” by 2018 Online Personal Wealth Awards and “Best Spread Betting Platform” by 2018 ADVFN Financial Awards. It also managed to bag the “Best Education” award at the 2018 Online Personal Wealth Awards.
ETX Capital Trading Platforms
For trading platforms, ETX Capital has 2 types of trading platforms, the proprietary TraderPro and the popular MetaTrader 4 (MT4).
ETX TraderPro Platform
The TraderPro platform is a proprietary platform that offers its users a wide range of trading tools and market access. The platform was designed specifically for the serious trader that wants greater control over his or her trades. The platform allows you to trade straight from the charts as well as make in-depth market analysis with the numerous tools that are integrated into the platform. In short, it enables you to cut down the time for you to act on your analysis conclusion. Other features of the TraderPro platform include the following:
Customisable indicators & on-chart trading
Flexible layouts for easier navigation
Smarter tools to manage your risk
Price Alerts & Personalised Watchlists
ETX MT4 Platform
To cater to more sophisticated traders, ET Capital has also made the popular MT4 platform available. Adopted by more than half the brokers in the industry, the MT4 boast of having advanced trading tools to take your market analytical ability to the next level. It comes with advanced charting tools and a large library of technical indicators which you can overlay onto your charts. In addition, the MT4 platform is able to support automated trading with the use of “Expert Advisors”. Other features of the MT4 platform include:
Fully customizable interface
Support for Multiple order types
ETX Capital Mobile Trading
To cater to traders who are constantly on the move, all of ETX Capital trading platforms are available for smartphones or tablets. Depending on the OS of the smartphone, you can download the mobile trading apps from Google PlayStore or Apple App Store.
ETX Capital Trade Types/Instruments
ETX Capital has 3 main types of trade types, spot market, CFDs market and Binary options markets. At present, ETX Capital offers more the 50 currency pairs which you can trade on the spot market. They include all majors, minors and a selection of exotic currency pairs. With CFDs trading at ETX Capital, you have a selection of markets that you can trade in. They cover the commodities market, indices markets, and equity market. For binary trading, you can also trade these markets on a fixed odd basis with binary options.
ETX Capital Account Types
In terms of trading accounts, ETX Capital only offer one type of standard trading account. Opening the trading account requires a minimum deposit of $100. The trading account allows you to trade with leverage as high as 1:200.
ETX Capital Commissions & Spreads
Trading at ETX Capital is commission free. Instead, traders need to pay a small spread on the trades that they make on the ETX Capital trading platforms. Overall the spreads are competitive with forex spreads starting from as low as 0.7 pips. With commodities, the spreads start from 3 pips and 1 pip for indices. To give you an idea of the typical spreads offered by ETX Capital, the table below shows the spreads which you can expect to find at ETX Capital.
Spreads (in pips)
Wall St Index
ETX Capital Deposits & Withdrawals Options
To fund your trading account at ETX Capital, you have a selection of payment methods which you can use. They include:
Major Credit/Debit cards
Online bank transfer
For withdrawals, the same methods can be used. The processing time will depend on the exact method used and ranges from 2 to 3 business days. The first 5 withdrawals over $100 each month are free. Subsequent withdrawals require a processing fee of $25.
ETX Capital Bonus & Promotions
At present, ETX Capital does not offer any kind of bonuses or promotional offers.
ETX Capital Customer Support
The customer support service at ETX Capital is available 24 hours a day 5 days a week. For the added benefit of its clients, ETX Capital has also made its website available in 8 different languages. To access the customer support service, you can do so through email, live chat or the telephone.
Pros and Cons
Multiple Choices of trading platforms
Lack of trading account choices
No localized telephone support
ETX Capital Q&A
Is ETX Capital regulated?
Yes, ETX Capital is a regulated broker under the jurisdiction of the UK’s Financial Conduct Authority
Where is ETX Capital based?
ETX Capital is based in London. Its head office is located at One Broadgate, London, England, EC2M 2QS.
How does ETX Capital make money?
ETX Capital makes its money by charging its clients a spread on the trades that they make on the ETX Capital’s trading platforms.
How do I deposit in ETX Capital account?
To fund your account at ETX Capital, you can do so using bank wire transfer, online bank transfer, credit/debit cards and eWallets, with a minimum deposit of £100.
How do I withdraw money from ETX Capital?
Withdrawals at ETX Capital can be initiated through bank transfers (online & wire transfers), bank cards or by using eWallets.
How do I open an account with ETX Capital?
Opening an account at ETX Capital is free of charge, you need to first fill up the registration form and submit it with all the required documents for verification.
Yes, ETX Capital is a reliable broker. It has been operational since 2002 and is regulated.
Does ETX Capital use MetaTrader?
Yes. ETX Capital also provides its clients with the MetaTrader 4 platform.
What is ETX Capital leverage?
The maximum leverage offered by ETX Capital is 1:200.
No, ETX Capital is not a scam. It is a legitimate broker that is regulated by the FCA.
ETX Capital operated under strict regulatory guidelines and have adopted strict security measures to protect its website from any unauthorized intrusion by a third party.
It should be noted that ETX Capital is a reputable broker with a long operating history. The broker is well regulated and is known to provide top-level services especially in terms of trader’s educational support. If you are looking for a reliable and reputable broker to trade the financial markets with, then ETX Capital is a good choice.