ETXCAPITAL

About company:

ETX Capital provides Forex, CFD and Binary Options trading, as well as a special type of forecast - spread bets, which are tax-free in the UK. The diversified portfolio includes indices, commodities, stocks and currency pairs.

 

history of the company

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

 

Fund security

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

 

UK regulation is renowned throughout the world for its stringent rules and standards. Brokers must meet numerous requirements, such as keeping customer funds in bank accounts separate 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 in order to operate legally.

 

In addition, an additional customer funds guarantee is provided as customers of FCA regulated companies are eligible to participate in the Government Compensation Scheme (FSCS). In the event that a regulated company becomes insolvent, traders can claim compensation up to £ 50,000.

 

Trading conditions

ETX Capital offers two types of accounts, ETX TraderPro and ETX MT4, according to the platforms offered.

 

Minimum deposit

ETX Capital set up a deposit of £ 100 or the equivalent in another currency. This initial capital amount is considered average. In comparison, other UK Forex brokers require a minimum initial deposit of $ 500. But in our rating you can also find those brokers whose work starts from $ 1.

 

Spreads and commissions

ETX Capital offers variable spreads depending on different products and does not charge any commission.

 

As for Forex, minimum spreads start at 0.7 pips and average 1.2 pips in EUR / USD.

 

Leverage

This broker offers different levels of leverage, depending on the type of trade and the instruments being traded. Basically, the maximum leverage for CFDs is 1: 133, and for currency pairs it is up to 1: 200 (1: 400 for products on MT4 platform).

 

Maximum leverage levels of 1: 200 and 1: 400 are standard in the Forex market.

 

Trading platforms

ETX Capital has two trading platforms to choose from: TraderPro and ETX MT4.

 

ETX TraderPro is geared towards experienced traders and allows them to choose from several chart formats.

 

In terms of MT4, this platform is the choice of most traders around the world as it allows clients to fully automate their trades. In addition, MT4 offers many technical indicators, extensive back testing, and an advanced charting package. MT4 allows you to hedge (open two opposite orders on one trading instrument).

 

In addition, this broker has developed a specialized binary options trading platform called ETX Binary, which allows clients to trade with a wide range of expiration times - from a minute to a month.

 

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

 

Significant services

ETX Capital cooperates with 200ForexCashBack, where they promise compensation to every trader who opens an account with ETX Capital in the amount of at least $ 200.

 

Education

The ETX Capital website has a separate Training section:

 

schedule of webinars. They are not conducted in Russian, mainly English, Spanish, there are also other languages; training courses are held, details need to be clarified in technical support. The duration of the course is 8 hours, they are free only for those clients who have opened a deposit of at least £ 1000; seminars; Road Shows are periodically held - the management team of the company, analysts meet with clients in different countries of the world.

 

Support service

The site has a section of frequently asked questions, which is divided into eight blocks, which greatly simplifies the work of traders. If the answer to the question was not found, then you can contact the support service by phone or e-mail. It is surprising that such a broker does not offer online chat.

 

Ways of payment

The broker accepts customer deposits and allows withdrawals via bank transfer, online transfer and credit / debit cards.

 

ETX Capital does not charge any fees, except for withdrawals of up to £ 100 or equivalent.

 

Criticism of traders

Despite the fact that the company has been in business for a long time, traders did not have the best opinion about this broker. In the CIS countries, almost no one works with ETX Capital, so it is extremely difficult to find Russian-language reviews.

 

But in other countries the situation is no better. There are a lot of reviews and reviews in which traders say that ETX Capital is filling orders at strange prices. For some, the account balance is reset to zero on their own. In addition, the technical support is not the best work.

 

The cooperation with 200ForexCashBack is even criticized, many traders claim that they have not received any cashback.

 

Pros:

 

regulated broker; selection of trading platforms; MT4 is available.

 

Minuses:

 

high deposit; no online chat.