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ETX Capital Review
ETX Capital is the broker name of Monecor (London) LTD which was established in 1965 and has grown ever since then. ETX Capital was launched in 2002 as a retail trading operation under the name TradIndex and then re-branded as ETX Capital. This was done in order to reflect the services offered and ETX is an acronym for electronic trading (E), telephone trading (T) and execution (X). A well-licensed and regulated online broker, ETX’s 55,000+ traders are treated to the company’s in-house developed proprietary trading platform, ETX TraderPro, and access to over 5,000 assets across six markets.
ETX’s instant execution model suggests an NDD operation. Spreads are tight and ETX Capital is transparent about all trading costs involved. Leverage is tiered and client funds are segregated. One thing that sets ETX Capital apart is that its parent company, Monecor (London) LTD, is listed on the London Stock Exchange (LSE). The proprietary trading platform won multiple awards for trading platform technology and education in both 2020 and 2020, though as a general rule, we prefer to test each broker ourselves rather than relying on ‘industry awards’ that may not be entirely unbiased .
Regulation and Security
Monecor (London) LTD, the owner and operator of ETX Capital, is registered in the UK under company number 00851820. During the course of this ETX Capital review we discovered that the company was incorporated on June 16, 1965, making it one of the oldest Forex brokerages in existence, and placing its birth as a company decades before the birth of the internet and online Forex trading. It is authorized and regulated by the Financial Conduct Authority (FCA) under registration number 124721. Clients funds remain segregated as mandated by the regulator and are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 in the unlikely case of financial default.
Monecor (Europe) LTD (ex Minden Investments and Insurance Advisers and Sub Agents LTD), an operating subsidiary of Monecor (London) LTD, was registered in Cyprus on September 13, 2002 under registration number C114460. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 096/08. As mandated by its regulator, funds remain segregated and protected by the Investor Compensation Fund (CIF). Since Cyprus is an EU member, cross-border regulation across all member states applies and the firm is compliant with the MiFID II regulatory framework as well as the 4 th EU Anti-Money Laundering Directive.
More detailed information is provided on their website. Transparency at ETX Capital is respectable and the company is in full compliance with all regulations; traders can rest assured that their capital is well protected.
Monecor (London) LTD Regulation
Monecor (Europe) LTD Regulation
ETX Capital earns the majority of its revenues from spreads on currency pairs and commissions charged on CFDs. Spreads on currency pairs in the ETX TraderPro account start as low as 0.6 pips with an average spread of 0.81 pips in the EUR/USD. Traders who prefer to trade using the MT4 trading platform, will get EUR/USD spreads as low as 0.8 pips with an average spread of 1.01. CFD commissions for share trading in the ETX TraderPro account as well as the MT4 account are as low as 0.1%. ETX Capital provides a detailed list of all trading costs for both trading platforms on their website.
Swap rates on overnight positions also apply and ETX Capital charges the inter-bank market rate plus 1.35% annualized. Traders will get all the information inside the ETX TraderPro account from the deal ticket.
What Can I Trade
ETX Capital traders have access to the following six markets: forex, indices, cryptocurrencies, shares, commodities and bonds & interest rates. Over 5,000 assets are available, and the wide selection allows traders to operate a well-diversified cross-asset portfolio. Regardless if a new trader seeks to establish a portfolio or a professional trader diversifies holdings, ETX Capital offers a solid choice in each circumstance. This broker states that not all assets are available in the trading platform and that if traders wish to trade an asset not listed, to contact ETX Capital and arrange the trade. This allowance, however, applies to professional traders only.
ETX Capital offers CFD trading account to all traders. There are no different account types, and traders at all levels and all deposit amounts are treated equally. This was an interesting finding during our ETX Capital review as tiered services have become quite popular recently among other Forex brokers who often offer better services for higher deposits. Leverage offered depends on the asset traded while larger position sizes will result in lower leverage offered.
Traders may qualify as professional traders which will result in less protection than retail traders, but also at better leverage. This is the only way in which ETX Capital really differentiates traders at different levels. Traders can apply for an upgrade to professional status, but need to have at least €500,000 of liquid assets, one year of experience in financial markets and placed at least ten trades of significant size in four consecutive quarters.
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CFD accounts are the only offered account type by ETX Capital.
An upgrade to professional client status is available on request.
ETX Capital offers its proprietary trading platform ETX TraderPro; it is hardly surprising that the broker recommends this platform for all traders. The trading platform seems to offer a superior trading environment as compared to the MT4/MT5 or cTrader platforms offered by most brokers. ETX TraderPro can be fully customized to suit each trader’s preferences, over 60 technical indicators are available, plenty of drawing tools for analytical purposes and chart trading is available.
Risk management tools have also been incorporated which allows traders to effectively manage the amount of risk they wish to take. Interactive charts, watchlists and trade alerts round up an excellent trading platform, well designed and user-friendly. A web version as well as a mobile version are available and ETX TraderPro will serve as the main gateway to financial markets for most clients.
Traders who have existing trading solutions build on the MT4 infrastructure are also catered to as ETX Capital offers the MT4 trading platform for everyone who requires it. Trading conditions are slightly better in ETX TraderPro, but it lacks automated trading features where MT4 comes in. Millions have been invested in creating autonomous trading applications for MT4, which remains the most popular trading platform, and new ones are being released; ETX Capital offers the desktop as well as mobile version.
It is great that ETX Capital offers MT4 despite having developed its own trading platform, given the tens of millions of trader and companies who rely on the MT4 trading environment and built their portfolios and business around its infrastructure. This shows that ETX Capital does care about existing traders who may wish to switch to them in order to access a much better trading environment while maintaining their trusted trading set-up.
The unique feature which stands out the most about ETX Capital is its ETX TraderPro platform; this sets it apart from most of its competitors and allows this brokerage to compete in the top tier of today’s ultra-competitive market sector. Another important fact to point out is that this company has been operating in the financial sector since 1965 which sets it apart from most, if not all, major players in the online brokerage space. Monecor (London) LTD, the owner and operator of ETX Capital, has been around before the rise of the internet, has bridged the period from analog to digital and then created a state-of-the-art trading platform. The experience of the team behind ETX Capital is without a doubt another unique feature.
Traders who prefer to manage their trading accounts on the MT4 platform will have access to a VPS which will allow them to run their autonomous trading solutions 24/7. No additional costs have been mentioned for this service and if this is indeed the case, it represents another great service offered by ETX Capital which sets it apart from most other online brokers.
Research and Education
ETX Capital offers its own research and analysis to clients and features an educational section filled with content which represents a great introduction to trading. The research section provides a solid service, but ETX Capital has truly excelled in its educational department where the quality of it shines. Overall, both sections supplement the excellent trading environment created by this broker.
Research and analysis are provided throughout the trading week and covers the following categories: Commodities, Cryptocurrencies, Forex, General, Indices, Market Event and Shares. The content is written well, plenty of in-depth analysis is provided and the presentation is professional. Many traders will find great information throughout this section, regardless if they are seeking new trading idea or are simply taking a break from active trading and reading up on important market events and developments.
It is clear that ETX Capital takes their market research seriously as evident in the content provided; this further sets this broker apart from many others in the online sector who provide research for the sake of marketing purposes only. This broker delivers a rock-solid service, driven by research and analytics and executes it well.
This is another area where ETX Capital shines, as the educational section is a gold mine of information for new traders. The educational section is divided into Webinars, eBooks, Platform Guides and Courses. The amount of Webinars hosted several times per week, is impressive and some are two-hour specials; at the time of this review there are 17 scheduled webinars for the month of this ETX Capital review alone. Five eBooks are available for download, eight platform guides in the form of videos provided and eight comprehensive Forex courses have been created by ETX Capital. A glossary section is also available on the website.
New traders are highly recommended to take their time and master the Forex courses while the platform guides will introduce traders to the ETX TraderPro platform which will form the center piece to most of its clients. This is an excellent service provided by ETX Capital and serves as an example of a well-designed introduction to trading for new traders.
Traders can download five eBooks and it appears that more will follow.
Eight platform guides will decrease the learning curve when switching to ETX TraderPro.
Customer support is available Monday through Friday between 7:30 am and 9:00 pm and clients can either call or send an e-mail. Live chat or a call-back feature is not available, but most traders will never require customer support and those who do are adequately served. The lack of an FAQ section is unfortunate, but most required information is published on the website.
Bonuses and Promotions
At the time of this ETX Capital review, no bonuses or promotions were offered by the brokerage.
Opening an Account
The opening account procedure is the same as with any well-regulated broker today, through an online application form which is followed by the submission of ID and proof of residence documents in order to satisfy AML/KYC requirements. ETX Capital provides a clean and simple one-page registration form which will give traders access to their back office from where further documents can be uploaded in order to verify account ownership.
Deposits and Withdrawals
ETX Capital offers the following deposit methods: Bank Transfer, Visa Debit/Credit Card, MasterCard Debit/Credit Card, Skrill, Neteller, Sofort, GiroPay and China Union Pay. ETX Capital doesn’t charge for deposits, which is standard industry practice, but withdrawals below £100 or currency equivalent are charged £10. Deposits and withdrawals need to be conducted from an account matching the ETX Capital account holder. Third-party charges from banks or payment processors may apply.
All withdrawal request sent before 2:00 p.m. will be processed the same day; wire transfers as well as card transfers can take anywhere from 24 hours to seven business day. This depends on the location of the client. Deposits are credited instantly or within two hours in the case of bank wires.
An account inactivity fee in the amount of £25 or currency equivalent applies to all account which showed no trading activity for six months; should an account be reactivated, ETX Capital will reimburse the last three monthly inactivity charges.
ETX Capital Review and Tutorial 2020
Go to the Brokers List for alternatives
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.
|Instruments||CFD, Forex, Crypto, Stocks, Spreadbetting|
|Mobile Apps||iOS and Android|
|FTSE Spread||1 pt|
|Oil Spread||0.06 pips|
|Stocks Spread||From 0.5%|
|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:
Popular Alternatives To ETX Captial
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.
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.
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
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
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:
- You can use any of the same methods used for funding your account.
- There is no minimum withdrawal. Having said that, you will incur a fee if you withdraw less than £100 of your revenue.
- 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:
- Over €500k of liquid assets excluding your house of residence if you own it.
- Relevant experience in financial services.
- 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.
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
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.
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.
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.
ETX Capital only accepts traders from United Kingdom.
ETX Capital Review
Established in London in 1965, ETX Capital specialised in mortgage bonds before expanding their portfolio into stocks and derivatives. In 2002 it launched a retail derivatives arm called TradeIndex that was later rebranded as ETX Capital, an acronym for the services it offers of Electronic trading, Telephone trading and eXecution. In recent years it has also expanded beyond the Capital operating in Europe, Asia and Russia.
Today ETX Capital offers traders access to more than 5,000 global markets on its TraderPro trading platform. They also offer traders multi-lingual London based support and personal account management.
TraderPro is available on smartphone or desktop, with 5,000 monthly clients making use of trading opportunity across forex, indices, cryptos, shares and commodities.
ETX Capital is a fully authorised spread betting and CFD provider regulated by the Financial Conduct Authority (FCA).
- Segregates client funds
- Established in 2002
- Regulated by Financial Conduct Authority
- Min. deposit from €100
- Doesn’t allow scalping (See alternatives)
- Inactivity Fee
- Limited range of instruments
- Not ASIC Regulated (See alternatives)
To open a live account, you’ll need a minimum deposit of at least €100. Alternatively, ETX Capital offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 124721). ETX Capital puts all client funds in a segregated bank account and uses tier-1 banks for this. ETX Capital has been established since 2002, and have a head office in UK.
Before we dive into some of the more detailed aspects of ETX Capital’s spreads, fees, platforms and trading features, you may want to open ETX Capital’s website in a new tab by clicking the button below in order to see the latest information directly from ETX Capital.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
79.6% of retail investor accounts lose money when trading CFDs with ETX
What are ETX Capital’s spreads & fees?
Like most brokers, ETX Capital takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on ETX Capital’s website. The colour bars show how competitive ETX Capital’s spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||0.6 pips||0.7 pips||0.1 pips|
|GBP/USD (Average: 1.1 pips)||1.2 pips||1.7 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||1.4 pips||0.6 pips||0.1 pips|
|AUD/USD (Average: 0.8 pips)||1.4 pips||0.6 pips||0.2 pips|
|USD/CHF (Average: 2.3 pips)||3.0 pips||2.3 pips||0.2 pips|
|USD/CAD (Average: 2.9 pips)||2.6 pips||0.5 pips||0.3 pips|
|NZD/USD (Average: 3.6 pips)||2.0 pips||2.8 pips||0.3 pips|
|EUR/GBP (Average: 2.4 pips)||1.0 pips||0.5 pips||0.1 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, ETX Capital’s minimum spread for trading EUR/USD is 0.6 pips – which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with ETX Capital vs. similar brokers.
How much does ETX Capital charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with ETX Capital at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $20.1. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
|Spread from :||$ 6.00||$ 2.00||$ 7.00|
|Total cost of a 100k trade:||$ 6.00||$ 2.00||$ 7.00|
|$4 less||$1 more|
|Visit ETX Capital||Visit XTB||Visit AvaTrade|
All fees/prices are for informational purposes and are subject to change.
What can you trade with ETX Capital?
ETX Capital offers over 5,137 different instruments to trade, including over 60 currency pairs. We’ve summarised all of the different types of instruments offered by ETX Capital below, along with the instruments offered by XTB and AvaTrade for comparison.
|FX / Currencies||ETX Capital||XTB||AvaTrade|
|# of forex pairs offered||60||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||ETX Capital||XTB||AvaTrade|
|# of commodities offered||16||21||16|
|Index & Stock CFDs||ETX Capital||XTB||AvaTrade|
|# of stocks offered||5000||1606||99|
|See ETX Capital’s Instruments||See XTB’s Instruments||See AvaTrade’s Instruments|
What’s the ETX Capital trading experience like?
1) Platforms and apps
ETX Capital offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. ETX Capital also offer their custom TraderPro platform. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
ETX Capital also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
Still not sure?
2) Executing Trades
ETX Capital allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.
As a market maker, ETX Capital may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that ETX Capital offers its traders below.
- Allows hedging
- Low min deposit
- Guaranteed stop loss
- Demo account
- Micro account
- Mini account
- Standard account
- Credit cards
- Bank Transfer
3) Client support
ETX Capital support a wide range of languages including English, French, Spanish, German, Polish, Czech, Greek and Mandarin.
ETX Capital has a BrokerNotes double AA support rating because ETX Capital offer over three languages email and phone support.
4) What you’ll need to open an account with ETX Capital
As ETX Capital is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore ETX Capital’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with ETX Capital you can visit their website here.
An insider look at trading with ETX Capital
If you’re wondering how ETX Capital works or just want to see inside their platform, we’ve recorded this short 4-minute video walking through the process of creating an account on ETX Capital.
What trading platforms do ETX Capital offer?
ETX Capital offers three different platforms for traders, and MetaTrader 4 is one of them. MT4 is one of the leading online trading platforms and is a popular choice of forex traders. With the ETX Capital MT4 platform, you can trade a wide variety financial markets including indices, commodities, equities, currency markets and cryptocurrencies.
What are the benefits of trading with MT4?
The MT4 platform offers the following benefits:
- You can use automated Expert Advisors (EAs)
- You can trade micro lots
- You can use hedging
- You can use leverage
For traders who prefer automated trading, this is the platform for it. ETX Capital has an AutoTrader platform that facilitates the use of automated Expert Advisors (EAs). Traders using EAs can set parameters for their trades and then wait for the automated responses. The advantage that traders get with this option is that one does not have to be in front of a computer to open or close trades. With MT4 automated trades, ETX Capital is responsible for the hosting while the traders provide the Expert Advisors.
On The MT4 trading platform, ETX Capital has made sure that traders can take advantage of the all the opportunities available. The one-click trading feature is what makes this possible.
Another trading advantage that the ETX Capital MT4 platform offers is the ability to support multiple charts. Information is very crucial when trading and that is what charts provide. With multiple ones, traders get real-time data that they can use for decision making. The environment in different markets keeps changing, and it is essential to monitor them when trading. Real-time data shows all the fluctuations that may be taking place.
The ETX Capital MT4 platform has a watchlist feature. As the name suggests, this lists enables a trader to keep an eye on specific markets. With the drop and drag function on the platform, traders can add particular markets to the list.
Trading on the MT4 platform offers traders favourable leverage rates of up to 200:1. Such margins increase the potential returns that a trader can get. Traders can also use micro lots, meaning that it is possible to trade smaller.
MT4 on Mobile
ETX Capital has a mobile app for the MT4 platform. Even with automated trading, traders still appreciate mobile apps. Traders can download the app on Android devices and iPhones and iPads from Google Play Store and iTunes. Mobile apps are available in multiple languages.
- Written by Marcus Taylor
- Founder & CEO
Marcus founded BrokerNotes in 2020 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about BrokerNotes & Marcus here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.etxcapital.com on 01/04/2020.
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