ETX Capital Xem lại

On-line since: 1965
Country of origin: Great Britain
Regulation: FCA
Payment options: wire transfer, Visa/MasterCard
Minimum account size: $100
Minimum lot size: 0.01 lot
Leverage: up to 1:200
Spreads: variable

About the company:

ETX Capital provides Forex, CFD, and binary options trading, as well as a special type of forecasts - spread bets, which are tax-free in Great Britain. The diversified portfolio includes indices, commodities, stocks, and currency pairs.

Company history

ETX Capital has a long history. The company was founded in 1965 and specialized in mortgage bonds. In 2002, the company opened a division of retail derivatives called TradIndex, which was later renamed ETX Capital.

Security of funds

ETX Capital is the trade name of London-based Monecor Limited licensed and regulated by the Financial Conduct Authority (FCA). In addition, it is a London Stock Exchange member firm as well.

The UK regulation is known throughout the world for its strict rules and standards. Brokers must meet numerous requirements, for example, to keep customer funds in bank accounts separately from the company's own funds.

Moreover, companies regulated by the FCA must prove their financial stability and have a minimum of 730,000 euros to operate legally.

Moreover, the broker provides customers with an additional protection of their funds, that is, clients of the FCA-regulated companies are entitled to participate in the Financial Services Compensation Scheme (FSCS). In the event that a regulated company becomes insolvent, traders may apply for compensation of up to GBP 50,000.

Trading conditions

ETX Capital offers two account types: ETX TraderPro and ETX MT4 in accordance with the proposed platforms.

Minimum deposit

ETX Capital has set a deposit of GBP 100 or an equivalent in another currency. This initial amount of capital is considered average. For comparison, other British forex brokers require a minimum initial deposit of USD 500. However, our ranking includes only those brokers whose deposit starts from USD 1.

Spreads and commissions

ETX Capital offers variable spreads depending on instruments and does not charge a fee.

As for Forex, the minimum spreads start at 0.7 pip and average 1.2 pip for the EUR/USD pair.

Leverage

This broker provides customers with different leverage levels, depending on the type of transaction and trading instruments. Mostly, the maximum leverage for CFDs is 1:133, while that for currency pairs is up to 1: 200 (1: 400 for instruments on the MT4 platform).

The maximum leverage levels of 1:200 and 1:400 are standard for the forex market.

Trading platforms

ETX Capital provides a choice of two trading platforms: TraderPro and ETX MT4.

ETX TraderPro is geared to experienced traders and allows them to select from several charting formats.

As for MT4, this platform is the choice of most traders around the world, because it allows customers to fully automate their transactions. In addition, MT4 offers a variety of technical indicators, extensive back testing, and an enhanced package of charts. The platform allows traders to hedge (open two opposite orders for one trading instrument).

In addition, this broker has developed a specialized platform for trading binary options named ETX Binary, which allows clients to trade with a wide range of expiration time — from one minute to a month.

All trading platforms offered by ETX Capital are also available on iPhone, iPad, and Android devices.

Additional services

ETX Capital cooperates with 200ForexCashBack, which promises compensation to every trader who will open an account in ETX Capital in the amount of at least USD 200.

Education

There is a separate Training section on the ETX Capital website:

• Schedule of webinars which are conducted in English, Spanish, and other languages;
• Training courses. The details can be provided by technical support. The course duration is 8 hours. They are free only for those customers who have deposited at least GBP 1,000;
• Seminars;
• Road Shows. The company's senior management and analysts hold periodic meetings with clients around the world.

Support service

The website has a frequently asked questions section. It is divided into eight subsections, which greatly simplifies the work of traders. If the answer was not found, you can contact the support service by phone or e-mail. Surprisingly, this broker does not offer online chat.

Payment methods

The broker allows clients to deposit their accounts and withdraw money through bank wire transfer, online transfer, and credit/debit cards.

ETX Capital does not charge any commissions, except for withdrawing funds of up to GBP 100 or an equivalent currency.

Feedback from traders

Despite the long-standing experience of the company, traders are kind of vague about this broker. In the CIS countries, almost no one works with ETX Capital, so it is difficult to find reviews in Russian.

As for other countries, the situation is not a lot better. A lot of comments record negative views regarding traders' experience in the company. They say that ETX Capital executes orders at odd prices. Some complain that an account balance zeroes out automatically. Besides, clients are dissatisfied with the way the technical service carries out its work.

In addition to all that, they complain about the collaboration with 200ForexCashBack. Many traders claim that they have not received any cashback.

Advantages:

• regulated broker;
• choice of trading platforms;
• MT4 available.

Disadvantages:

• high deposit;
• no online chat.