ETX Capital Review
If you want more choices from your broker and the safety and security that come with being a UK-based operation, then ETX Capital may be the broker for you. ETX, their moniker for “Exciting Trading eXperience, offers over 6,000 tradable market asset choices, combined with the regulatory compliance ensured by the FCA. The firm hit the market in 2002, a subsidiary of Monecor Ltd, a member of the London Stock Exchange and an investment services firm established in 1965. With ETX, you can easily find everything under one roof, including leveraged Forex, CFD and Binary trading, and financial spread betting. Monecor (London) Ltd is authorized and regulated by the Financial Conduct Authority with Financial Services register number 124721. ETX, unfortunately, does not accept U.S. customers at this time.
ETX prides itself on its cutting-edge technology. The firm’s flagship trading platform, ETX TraderPro, has received industry commendations for its operating effectiveness. It combines customizable charting tools, innovative features, and alerts with the tightest spreads of either of the other two platforms. If you are not convinced to go with TraderPro, you can also opt for the standard MT4 series of trading protocols and take advantage of their popular features and the ability to automate your trading with Expert Advisors (EAs). If you crave rapid-fire action, then the ETX Binary platform may be a better fit for you. Each platform has a mobile application, requires a separate account relationship, and encrypts all trading activity data for security purposes. From each format, you can access currency pairs, stocks, indices, and commodities, and, if you reside in the UK or Ireland, you may also access the ETX spread-betting services.
FCA regulatory compliance is another plus with this firm. Capital adequacy is assured, as are high standards for operating efficiency. Your account deposits are doubly protected, first by stringent segregation rules with Tier-One banks, and secondly by the Financial Services Compensation Scheme up to £50,000. Spreads and leverage are competitive, but your asset choice and trading platform selection will determine their actual values. The EUR/USD spread can be as low as 0.7 pips with the TraderPro setup. Leverage will also vary, averaging about 100:1 across the entire product offering, but it can be as high as 400:1 for selections on the MT4 platform. Customer service representatives have won numerous awards for their excellence, as have the firm’s educational and training materials. In addition to basic training materials and e-tutorials, ETX takes support to another level. There is a continuous stream of interactive webinars that are scheduled daily to enhance your preparation for each day’s trading activity, from market commentary to advanced topics in technical analysis and strategy development.
Why trade with ETXCapital.com? The firm lists these reasons:
- Launched in 2002 by Monecor Ltd, with headquarters in London;
- Monecor Ltd is a member of the London Stock Exchange, a private corporation, and has been in the investment services business since 1965;
- Regulatory compliance with the Financial Conduct Authority (FCA);
- Client deposits segregated in Top Tier banks and further protected by the Financial Services Compensation Scheme up to £50,000;
- Firm offers over 6,000 tradable instruments via leveraged forex, CFDs and Binary Options in forex (over 50 pairs supported), commodities, stocks, and indices;
- Spread Betting available to residents of the UK and Ireland;
- Minimum deposit = £100;
- Single account structure based on selected trading platform – multiple accounts permitted;
- Three trading platforms: ETX TraderPro, ETX MT4, and ETX Binary;
- Mobile applications available for each platform selection;
- Tight spreads offered on all tradable instruments;
- Leverage varies by asset choice and platform – averages 100:1, but can be as high as 400:1 in some cases;
- Various promotional offers and bonus programs;
- Educational and support materials are abundant and include beginning courses for traders, online webinars, free seminars, road shows, and online interactive training, strategy development, commentary, and analysis.
Spreads and Leverage
Bid/Ask spreads are very competitive, but will vary due to the asset or trading platform selected. For the TraderPro system, the EUR/USD currency pair begins at 0.7 pips. If you are trading equities, spreads can start at 0.08%, while major indices start at 1 pip. Commodity spreads are also tight, beginning at 3 pips. Leverage and associated capital requirements can vary as well for the same reasons. The posted average on the website for leverage is 100:1, but it can be as high as 400:1. Check asset choices for details.
The ETX management team has chosen to offer their service through three separate trading platforms, each with its own form of cutting-edge technology. The firm leads with its TraderPro platform, designed by traders for traders. Forex spreads tend to be the tightest with this setup and benefits include customizable charts, alerts, and trailing stops. For those traders that prefer the highly popular Metatrader4 series of products, the ETX MT4 protocols will enable automated trading with EAs, supplemented by advanced charting tools. The third setup is ETX Binary, and as the name implies, this system opens the door to the world of digital options and fast-paced trading with opportunities for quick and substantial returns. Mobile apps are available for each trading system. Advanced encryption software ensures that external hacking activities will never breach your confidentiality.
Deposits and Withdrawals
Deposits can be accomplished with banking wire transfers, online bank transfers, or with major credit and debit cards. ETX also supports a number of alternative payment methods, including Skrill, Neteller, China UnionPay, Sofort, and GiroPay. Withdrawal requests will be processed quickly, as long as internationally mandated personal ID information is on file, current, and in order.
Beginners’ and Customer Support
Professionally trained and bilingual customer service representatives are available during London market and business hours to assist you with any queries that you might have. Email or direct phone are the best access routes. Website text and trading platforms may be read in over a dozen different languages. ETX educational and support materials are a major cut above industry standards, and, as such, have garnered several industry awards. In addition to ebooks, etutorials, and the basic fare of training support, ETX is more proactive on this front. They also offer free seminars, road shows, and interactive webcasts to the mix, covering all manner of helpful topics for all levels of trader. As of this writing, there 15 events scheduled in the near term for anything from daily market commentary to advanced TA and strategy development.
ETX Capital wants to be your “one-stop-shop” broker. They combine cutting-edge technology with experienced staff, competitive pricing, and service excellence. Whether you are looking for leveraged Forex, CFD and Binary trading, or financial spread betting, ETX covers the entire gamut with over 6,000 market instruments to choose from and with FCA regulatory compliance thrown in for peace of mind. From its headquarters in London and with its long history in investment services, ETX is perfectly positioned to access financial markets and provide trading opportunities that are unmatched in the industry. They are definitely worthy of your consideration.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.