ETX Capital Binary Broker Review

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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.

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ETX Capital
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 .

ETX Capital XTB AvaTrade
Spread from : $ 6.00 $ 2.00 $ 7.00
Commission : $0.00 $0.00 $0.00
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
Cryptocurrencies Yes Yes Yes
Commodity CFDs ETX Capital XTB AvaTrade
# of commodities offered 16 21 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs ETX Capital XTB AvaTrade
# of stocks offered 5000 1606 99
UK shares Yes Yes Yes
US shares Yes Yes Yes
German shares Yes Yes Yes
Japanese shares No Yes Yes
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.

Trading Features:

  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Neteller

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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ETX Capital Review 2020

Summary

Recommended for forex and CFD traders looking for great funding and withdrawal options and an easy-to-use platform

ETX Capital is a global CFD and FX broker. Its parent company, Monecor (London) Ltd was established in 1965 and is regulated by the Financial Conduct Authority (FCA) making it safe to invest your money with.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ETX Capital pros and cons

ETX Capital offers a lot of deposit and withdrawals options and they are free of charge. It has also a user-friendly and fast account opening. There are a lot of educational tools with great quality.

ETX Capital has high trading fees. The product portfolio is limited as it offers only CFDs, forex, and crypto. You can use only charting as a research tool. There are no trading ideas, fundamental data, or news either.

Pros Cons
• Free and multiple deposit and withdrawal options • High trading fees
• Easy and fast account opening • Only CFDs, forex, and crypto offered
• Great educational tools • Basic research tools
ETX Capital main features and highlights
��️ Country of regulation UK
�� Trading fees class Average
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $100
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 3
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

ETX Capital review
Fees

ETX Capital has high trading fees and financing rates. The non-trading fees are average. On the plus side, there are no withdrawal fees.

Pros Cons
• No withdrawal fee • High forex fees
• High financing rate
ETX Capital fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.5 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 2 is the average spread cost.
EURUSD High The fees at TraderPro account are built into spread, 0.7 pips is the average spread cost
Inactivity fee Low $25 per month after at least 6 months of inactivity

How we ranked fees

We ranked ETX Capital’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates, and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of ETX Capital for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared ETX Capital’s fees with those of two similar brokers we selected, XTB and XM. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of ETX Capital alternatives.

To have a clear overview of ETX Capital, let’s start with the trading fees.

ETX Capital trading fees

ETX Capital trading fees are average.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF, and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for ETX Capital fees.

CFD fees

ETX Capital has generally average to high CFD trading fees.

ETX Capital CFD fees for a $2,000 long position held for one week

ETX Capital XTB XM
S&P 500 CFD benchmark fee $2.2 $2.0 $2.4
Europe 50 CFD benchmark fee $2.1 $2.2 $2.4
Apple CFD benchmark fee $32.0 $17.9 $3.4
Vodafone CFD benchmark fee $25.9 $20.9 $5.6

As we can see above, index CFD’s are about average with their competition. When it comes to individual stock CFD’s though, we can see that they are quite a bit higher than the same competitors with XM being much cheaper.

Forex fees

ETX Capital forex fees are high.

ETX Capital forex benchmark fees of a $20,000 30:1 long position held for one week

ETX Capital XTB XM
EURUSD benchmark fee $19.5 $15.0 $17.1
GBPUSD benchmark fee $16.1 $11.1 $13.8
AUDUSD benchmark fee $16.6 $10.0 $13.9
EURCHF benchmark fee $9.4 $6.6 $9.1
EURGBP benchmark fee $14.2 $9.9 $12.2

In every benchmark measured, we found that ETX Capital’s forex fees were higher than XTB’s and XM’s. This is unfortunate because these three stock brokerages all have the same target market making ETX Capitals rates relatively unattractive to potential clients.

Non-trading fees

ETX Capital has average non-trading fees.

It does not charge an account fee or withdrawal fee up to 5 withdrawals per month. If you withdraw more than 5 times, you will be charged a $10 fee per additional transaction.

Unfortunately, they do charge an inactivity fee of $25 per month after at least 6 months of inactivity. It’s important to note that these types of charges are hard to find on their official website making their commission structure not completely transparent.

ETX Capital Review and Tutorial 2020

Go to the Brokers List for alternatives

ETX Capital Facts & Figures

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.

Trade 5 cryptocurrencies, and BTC against USD, GBP or EUR. Margin is tiered from 50%

Instruments CFD, Forex, Crypto, Stocks, Spreadbetting
Demo Account Yes
Min. Deposit £250
Min. Trade £1
Regulated By FCA
MT4 Integration Yes
Mobile Apps iOS and Android
Auto Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 1 pt
GBPUSD Spread 0.9
Oil Spread 0.06 pips
Stocks Spread From 0.5%
Forex
GBPUSD Spread 0.9
EURUSD Spread 0.6
EURGBP Spread 0.9
Assets 65+
Cryptocurrency
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:

Others

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.

Leverage

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.

Mobile Apps

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

Deposits

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
  • Giropay
  • Neteller
  • PayPal
  • Skrill
  • Sofort

Withdrawals

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:

  1. You can use any of the same methods used for funding your account.
  2. There is no minimum withdrawal. Having said that, you will incur a fee if you withdraw less than £100 of your revenue.
  3. 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:

  1. Over €500k of liquid assets excluding your house of residence if you own it.
  2. Relevant experience in financial services.
  3. 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.

Demo Account

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

Additional Features

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.

Benefits

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.

Drawbacks

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.

Accepted Countries

ETX Capital only accepts traders from United Kingdom.

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