Our Review of ETX Capital
ETX Capital was originally established in 1973. ETX is the brand name used for the holding company Monecor Ltd. Currently, this broker is regulated and authorized by the FCA. ETX Capital provides financial trading services to many countries not including the United States. ETX specializes in offering clients access to different types of markets via spread bets and CFDs. The company has witnessed growth in popularity as a result of efficient customer service. ETXV Capital implements a client-orientated approach behind all sales, business, client support, and technical operations.
ETX Capital is a versatile company that provides distinct account types for distinct clients. The primary goal of the company is to recognize both experienced and novice clients. ETX offers four different accounts types that are designed to help any client regardless of skill level.
The Binary account is used clients that require minimum risk over a short-term contract. This is an ideal account for rapid spread betting.
The Trader account is a user-friendly account that offers easy access to any type of market.
The TraderPro account is similar to the Trader account; however, this account is for serious and experienced traders. This account provides indicators, complex tools, and charts for an enhanced trading experience.
The MT4 is useful for clients that require trading over a more technical User Interface. Moreover, this account is appropriate for automation trading.
Commissions & Spreads
In regard to payable spreads, it can be either variable or fixed. Major currency pairs have a considerably competitive fixed spread. For example, the EUR/USD and GBP/USD offer a spread of 1.5 pips. Index spreads are moderately lower at around 1 pip.
In order to meet the needs of a demanding market, ETX currently offers variable spreads for six of the more commonly traded currency pairs. For instance, the GBP/USD starts around 0.9 pips whereas the EUR/USD may start around 0.7 pips.
In most cases, traders should always pay close attention to variable spreads. ETX Capital frequently monitors prices in order to provide the tightest spreads.
ETX understands the significance of a reliable and well-organized trading platform. ETX Capital offers two different trading platforms to clients. The ETX Capital Proprietary Platform is fast, easy-to-use, and powerful. This platform completes trades in less than a second. This feature helps clients lock in a desirable prices quickly. Additionally, the one-click trade feature reduces trading time significantly. A few other strengths of the platform include guaranteed stops and watch-lists.
The other trading platform is the ETX MetaTrader 4 or MT4. This platform is the more popular of the two platforms. The popularity is not only at ETX, this is within financial trading. The primary reason for the popularity is the applicable customization of the MT4 platform. Additionally, this platform incorporates complex tools that are perfect for charting and technical analysis.
Deposits & Withdrawals
There are several methods for making a deposit. These methods include using a credit card, completing a wire transfer, calling by phone, and using a debit card.
Withdrawals, on the other hand, are completed using credit cards and wire transfers.
ETX Capital offers excellent customer service and support. There are several languages that include Chinese, Spanish, Danish, Italian, French, and German. The primary customer support language is English. The system is available through the UK website. In order to contact the support team, clients must use telephone, fax, or email. Trading is open 24 hours.
Regulators & Safety
This company understands the magnitude of a client’s peace of mind while trading. To reassure clients, ETX depends on a strict governance to guide business operation. ETX Capital uses segregated accounts for clients. The company also implements Financial Resource calculations on a daily basis to help guarantee the company is in compliance with mandated FCA requirements. ETX is a regulated company that allows clients to join in a sanctioned compensation scheme known as Financial Services Compensation Scheme. If the company is liquidized, clients can file a claim up to 50,000 pounds.
Leverage is the amount a trader can increase a trade. ETX Capital currently offers 0.5% or 1:200. It is important for novice traders to pay close attention to leverage.