ETX Capital is a well established and FCA regulated broker with over 50 years in business. The broker has a vast range of markets, industry-leading trading platform, and competitive spreads. They strive to deliver a versatile trading experience for clients and offers a range of educational resources.

ETX Capital provides its customers with access to highly competitive prices for over 6,000 different markets as well as support from its award-winning customer service teams. ETX Capital is based in London but has customer support in many countries.

ETX Capital Review

Monecor (London) Limited is the company behind ETX Capital, which is a trading name of the former. Monecor (London) Limited has company number 00851820. The Financial Conduct Authority (FCA) authorizes and regulates it under the Financial Services Register number 124721. Monecor (London) Limited was established in 1965 and is also on the London Stock Exchange.

Visit ETX Capital

Please Note: 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 spread bets and 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 at a Glance

BrokerETX Capital
RegulationFCA (United Kingdom)
Minium Initial Deposit
£100
Demo Account
Yes
Asset CoverageCFDs, ETFs, Forex, Cryptocurrency, Shares, Bonds Commodities, Indices
Leverage30:1 Retail Clients 200:1 Professional Clients
Trading PlatformsProprietary Web, Windows Desktop, Mobile Apps, Meta Trader 4

ETX Capital Trading Instruments

When trading with ETX Capital, clients get access to thousands of markets which are tradeable. There is the choice of over 50 forex pairs in addition to Cryptocurrencies, commodities, equities, and financial indices. Commodities offered by ETX Capital include five metals, five energy, and nine soft commodities. In terms of equities, you can trade CFD stocks from the U.S., Australia, Singapore, South Africa, or 18 European countries.

ETX Capital Markets

Spreads & Leverage

ETX Capital prides itself on offering tight spreads with plenty of leverage. For forex, the spreads from ETX Capital start at just 0.6 pips for EUR/USD, a highly competitive rate. For equities, some stocks have indicative spreads of 0.08. Commodities have minimum spreads starting at 3 pips, and certain major indices have minimum spreads that start at 1 pip.

Many of the products from ETX Capital offer leverage rates of 100:1. Some of the MT4 products even offer leverage of up to 200:1 for professional clients and 30:1 for retail clients.

Accounts Types

Instead of offering separate types of accounts, ETX Capital offers two types of platforms to suit varying trading styles. These are its flagship ETX TraderPro and the ever-popular ETX MT4. Once you open your account with one of these platforms, it is still possible to trade on the other platform. To do so, just email the service desk. They will easily make trading on the other platform available to you since you have already gone through the security process during registration.

It is also possible to hold more than one account with ETX Capital, including one for each of the trading platforms. At any point, it is possible to hold five live accounts with ETX Capital. The broker can work with you if you need to hold more than five live accounts, but this requires a review by its compliance time. To create another account once you have already registered for one, just log into your account and go to the Profile section.

ETX Capital Accounts

Demo Accounts

ETX Capital also offers demo accounts for each platform. To take advantage of this feature, go to the “Platforms” tab on the website. Then, choose the “Demo” option and follow the prompts. This will let you hone your skills and get used to the ETX Capital platforms without risking real money.

ETX Capital Deposits and Withdrawals

To add funds to your MetaTrader 4 account with ETX Capital, log in and click “Adds Funds.” This will take you through the process. To withdraw funds, log in, visit “Your Account” then click on “Withdraw Funds.” Fill in the required fields, which will include the amount. In some cases, you may need to give more documentation before withdrawals to prevent financial crime. It is also possible to transfer funds between your ETX Capital accounts. To do so, you will need to send an email to customer service that includes the account numbers for the transfer, the amount, your address, and your date of birth.

There is a minimum deposit of £100 or its equivalent in a different currency. You can make a deposit via a wire or bank transfer in GBP, USD, EUR, SGD, ZAR, SEK, RON, NOK, PLN, JPY, HRK, HKD, CZK, DKK, AUD, CAD, or CHF. This will take one working day for deposits and two to three for withdrawals. The same currencies and time periods apply to online bank transfers. You can also make a deposit with a major credit or debit card, other than AMEX. These have a general processing time of one working day and withdrawal arrival time of three to five working days. You can make the deposit with credit/debit cards in GBP, USD, EUR, CHF, CZK, DKK, ZAR, PLN, or NOK.

Those interested in e-wallets will find many options, as well, including China UnionPay, Skrill, Neteller, Sofort, and GiroPay. For each of these methods, there is a general processing time of one business day and a withdrawal arrival time of three to five business days. Sofort and GiroPay only allow deposits in EUR. Neteller and Skrill allow GBP, EUR, or USD. China UnionPay allows GBP, EUR, RMB, or USD.

For payment security, ETX Capital uses the 3-D Secure protocol, which is internationally accepted and adds a layer of security for debit and credit card transactions online. This is done by using XML messages that are sent over an SSL connection with the client authentication. This protocol is automatic, and you will notice that it typically requires you to add a code your bank provides via text or a password.

What Else Should You Know about Deposits and Withdrawals?

Keep in mind that you can only deposit funds into your ETX Capital account from a credit or debit card or bank account that is in your name; the broker does not allow for third-party funding. It is also worth noting that if you deposit funds into your ETX Capital account in a different currency, the broker will convert them using the spot rate from trading close on the previous day. This will increase the length of time it takes for the deposit to be credited.

Withdrawals always go back to the original source of the funds. If this is not possible, ETX Capital will need to first confirm that this is the case. From there, the Customer Service team will let you know the documents that you need to send. It is usually possible to withdraw back to a credit/debit card that has since expired, but if the issuer of your card refuses this payment, the above process will apply. If the funding bank account has been closed, or your credit/debit card was stolen, ETX Capital will need a letter from you detailing this as well as a bank statement for the preferred withdrawal method. You can cancel a withdrawal from your ETX Capital account via the specific withdrawal email address or by phone.

There are no withdrawal fees for the first five withdrawals each calendar month from ETX Capital, provided the withdrawals are at least $100. For withdrawals past this point, there is a fee of $10 per withdrawal. That same $10 fee applies to withdrawals below $100. The maximum withdrawal fee is $10, even if both conditions are met.

ETX Capital Fees

It should be noted that ETX Capital does charge an inactivity fee for accounts that are dormant. These are charged in per month and there are specific fees depending on the currency in question. You can view the fee for your account currency on the Payments page of the ETX Capital website. There are 31 different currencies, making it impractical to list them all. That the time of writing, some of the most common currencies with their inactivity fees include:

  • AUD: 30
  • CAD: 30
  • CHF: 20
  • EUR: 20
  • JPY: 2,750
  • RUB: 1,300
  • USD: 25

The broker also has overnight financing charges. For commodities, indices, and equities, the charge is (total position size x 3.5%)/365. In the case of a weekend roll, this charge only gets applied once although the underlying market spread is larger since you roll the position three days instead of one. For FX, the interest calculation depends on currencies in question. You can view full details of overnight funding and financing fees in the FAQ section of ETX Capital’s website.

ETX Capital Fees

ETX Capital Promotions

ETX Capital does offer promotions. These vary at any given moment, so the best way to discover the current promotions is to talk to your Account Relationship Manager. Promotions do expire, and you can check the expiration date of your promotion and how much of it you have earned so far by contacting customer support, either via email or phone.

ETX Capital Trading Platforms

To help clients trade on the go at their convenience, ETX Capital offers mobile trading platforms for Android and iOS devices in addition to the desktop platforms. Overall, there are two main platforms to choose from when trading with ETX Capital on a mobile device or desktop. Each of these is specialized and suits traders of a particular trading style.

Trading Platform

ETX TraderPro has tight spreads and customizable trading charts. This makes it a great choice for accomplished traders who want to embrace risk to increase their chances of significant returns. This is the flagship platform from ETX Capital. It includes an assortment of charts and graphs, plus thousands of products to trade.

ETX TraderPro lets you choose from a range of charts and use various drawing tools to come to trading conclusions on your own, making it great for advanced traders. The platform is very direct, letting you open the chart for a product and trade on it right away to save time and reduce the risk of slippage. The platform includes a pip calculator tool and has drag-and-drop capabilities, so you can position trading deal tickets where you want. You can also create watch lists and view detailed information on any product via the platform.

ETX Capital Web Trader

Alternatively, clients of ETX Capital can trade on ETX MT4, the broker’s hosted MT4 platform. This platform makes it possible to bring a downloaded automated expert advisor. In addition, ETX MT4 lets you have multiple charts open at the same time, letting you access all the market info you need simultaneously. MT4 also supports micro lots and hedging. There is also the choice of using Virtual Private Server hosting on MT4, so you can ensure your copy signal providers and Expert Advisors work 24/7.

When you look at the trading boxes, you will notice rates displayed. These are quotes prices for assets. You should keep in mind that ETX Capital’s rates are not always the same as the exact market prices, with some variations of up to several pips. The rates listed, however, are those at which ETX Capital is willing to sell a given option for. On the trading platform, green shows a rise in price while red shows a fall in price for the rates.

Meta Trader

How to Trade with ETX Capital

To begin placing a trade, you must log into your account. From there, the steps vary slightly depending on the platform you choose to use.

With ETX TraderPro, begin by choosing the product you want to trade then select “Trade” on the right. This will open a trading ticket that shows the current levels at which you can buy or sell. You can also set the quantity to trade. Adjust the amount then select “sell” in red or “buy” in blue.

How to Trade

With ETX Binary, click the product you wish to trade, which will automatically open the trading ticket. Your choices will depend on the Binary option’s nature. You may see buttons for “Call” and “Put” or options for “Up” and “Down,” along with numbers that change based on the current product price. There will also be a drop-down box that may offer expiration times for your trade. The form will ask you to input the amount you want to trade. As you update the information, the payout calculator will also update, letting you know your potential payout in the case of a successful trade. When you are happy with the form, select “Invest” and your trade will be placed.

With ETX MT4 begin by selecting “New Order” by the top trading bar. This will open a new window. There, click on the “Symbol” drop-down tab. There, you will select the product to trade. Then, enter the amount to trade and potential levels for a stop loss or take profit. From there, you can select the “Sell by Market” button in red or “Buy the Market” in blue.

To place an Order to Open, click on the “Order” tab, which will open a New Order window. Choose the level to buy or sell, adjust the other fields, and select “Place” to confirm the Order to Open. You can modify an Order to Open by opening your order book and clicking “Amend.” This will open a window called “Amend Order.” Make your changes and hit “Amend.” Keep in mind that slippage will sometimes occur, and it will not be possible for a limit or stop order to occur at the specific price you indicated. Stop Loss orders are not guaranteed unless this is agreed upon.

ETX Capital also makes it simple to find a minimum Stop Distance for your chosen market. Click on the market or find it via the search bar. Generate a new deal ticket by clicking “Trade.” Then, click “Advanced” and then “Stop.” Now, you can decrease the Stop level with the arrow keys. When you cannot decrease any more, this is the minimum Stop Distance.

On certain markets, ETX Capital also offers guaranteed stop losses. However, this will incur an added charge. That charge is displayed right on the deal ticket when you make your selection, so there are no hidden fees or surprises.

When Will ETX Capital Close Positions?

Sometimes, you may notice that a previously open position has been closed. This can happen due to a range of reasons, including that you had a Limit or Stop order set on the position, which was reached and executed. It is also possible that your position closed because of a margin call. Another possibility is that you traded on a futures contract that reached its expiration date. To avoid this problem, you can call ETX Capital before the contract expires to roll it over until the following expiration date.

If you notice the figure for your “Trade Funds Available” is negative, you can either close the current position or add funds to your account. If you do not act, the Risk Department may close or partially close your position.

How Do You Know Your Available Trading Funds?

You can determine your available trading funds by taking your liquidation value and subtracting the margin needed for open trades. When this figure is positive, it shows the quantity that you currently have available for trading. If it is negative, that is the amount you must deposit before having enough funds to trade again.

Can You Hedge with ETX Capital?

Sometimes, traders want to order two positions on the same market in opposite directions or hedge. This is allowed on the MT4 platform. On the ETX TraderPro platform, some instruments will offer this ability. If this is the case, you will notice the word “hedge” in brackets right next to the instrument’s name.

Minimum & Maximum Trade Sizes

The minimum deal size depends on the instrument. In most cases, you can trade from just 0.50 pips per point on a micro lot with CFDs or in the spread betting platform. The maximum deal size will also vary based on the platform that you choose to use. Typically, ETX Capital clients can place a deal of any size provided they have enough funds to cover the margin requirements for the trade. If you cannot enter a deal via the website and are unsure why, you can call ETX Capital. Keep in mind that the maximum deal size will sometimes change due to exceptional market conditions.

What Happens If You Do Not Trade in Your Account’s Base Currency?

ETX Capital converts your daily currency trades back into your chosen default currency automatically after midnight from Sunday to Thursday. If this automatic conversion does not occur, let ETX Capital know. In the future, you may need to let it know ahead of time whenever you want your balance converted.

Viewing Your Trade History and Open Trades

In MetaTrader 4, click on the tab for Account History within the Terminal Box. From there, you can right-click on “Account History” and choose the time period you want to view. If you cannot see the Terminal Box, you can open it by pressing CTRL+T.

You can view your overall loss or profit on a position with ease, as well. On ETX TraderPro, start by finding the “Open Positions” tab by the lower half of the screen. There, you should see the current positions, with each also featuring the time and date it was open. The information will also include the quantity sold or bought, the margin reserved, and the product price when opened plus the current price. Next to this information, there is a “P/L” column. Here, you will find the current profit or loss level. The figure is also color-coded, with the amount in white for profits and red for losses. To the right, you will spot buttons that let you view the product chart, engage in further trading on the product, close the trade, or create a new alert.

On ETX MT4, go to the terminal window on the MT4 platform to view open trades. It is typically by the bottom of the screen. If it is not visible, you can add it to your view by selecting the “View” menu by the top. Within the terminal window, select the “Trade” tab. This tab will display the open trades and current account balance. For each trade, you can view the relevant information, including time opened, size, type, symbol, and price. You can also select a particular trade, which will open a window that features options like the ability to close the trade.

ETX Capital Charts

ETX Capital does have several display styles that come with a range of various drawing tools to suit your needs. It is also possible to add various studies, then save your settings. Just click on the Chart icon on a given market. From there, you can select the Charts tab and click on Type to select the display style that you prefer.

Clients can also use the regular charts included. You will notice that ETX Capital keeps chart data for at least a day. The tick data for less than one-minute periods is stored for a day, and periods between one and five minutes are stored for two days. Periods between five and 30 minutes are stored for two weeks, and periods between one and four hours are stored for several months. The data for periods of one day and longer is stored forever. The daily candles on charges are automatically reset at midnight in the time zone of the local market. Daily price changes get applied at midnight in the London time zone. All prices get their basis from the official close of their underlying market.

ETX Capital Charts

You can change the style of a chart whenever you want. To do so, open the chart by clicking on the market or using the search bar. Then, select the Chart icon to open a new chart window. From there, you can click “Charts” and “Type” to adjust the style of the chart. It is also possible to open a chart in a new browser window. Just go to the top right corner of the chart window and click “Move to New Window,” which is an icon.

There are also numerous indicators available for ETX Capital charts. To add or remove the indicators, go to the “Studies” tab on your chart. Choose the indicator you want and adjust the settings. Then, click “copy” and close, and the indicator should appear on the chart.

You can customize charts with the tabs on the left and top of the window. If you want to save these customizations for the future, go to the “Settings” tab and select “Save Chart Settings.”

Other Trading Tools & Resources

ETX Capital has an entire section of its website dedicated to market analysis. There, you will find a range of articles focused on analyzing the market. You can browse the most recent ones or use the search function. There is also the ability to sort analysis by author or tags.

Educational Resources

ETX Capital covers a range of educational topics in its FAQ section. There, you will find such information as the purpose of limit orders and explanations of leverage. In addition to the information sprinkled throughout the FAQ section, ETX Capital also offers other education, via seminars, webinars, and an advanced education course. All of those resources are free for account holders. Although not always the case, many of the webinars are recorded, so you can view them on the education page later.

Educational Resources

At the time of writing, there are 13 upcoming seminars and webinars listed on the education page of ETX Capital, all of which take place in the same month. That variety helps show that ETX Capital offers very frequent webinars. These are led by either an independent trader company or the expert in-house team from ETX Capital. All webinars indicate the subject, date and time, location (typically online), language (typically English), and whether there is still room available. You can click on a webinar to get even more information, including an in-depth summary of what will be covered. At the bottom of the page, you will find the form to register.

ETX Capital additionally offers a trader course that is run by an independent company and is comprehensive and geared toward clients. The program is completely free for ETX Capital clients, despite comparable programs typically costing well over $1,000. It includes an eight-hour program with monthly follow-ups for discussing trading strategies.

Competitors

ETX Capital is in competition with our similar brokers which have covered before, as follows:

ETX Capital Customer Support

The customer support from ETX Capital is multilingual, and the FAQ section on the company’s website is also available in more than 15 languages. Customer service is available in English, German, Spanish, Mandarin, Polish, and Czech. To contact customer support, visit the “Contact Us” section of the website. There, you will find contact information for both new and existing accounts. Existing accounts will see separate numbers for customer service and the trading desk. Those looking for a new account will find both a free phone number (within the UK) and an international number. This is also where you will find the physical address of ETX Capital and its fax number. The address is One Broadgate, EC2M 2QS, London.

ETX Capital also makes it a point to attend various trade shows worldwide. At these events, staff members will gladly meet clients, business introducers, and affiliates.

ETX Capital Awards

ETX Capital recently took part in the Online Personal Wealth awards 2019 and won “Best Trading Platform for Professionals” and “Best Trading Tools”.

Awards

Is ETX Capital Safe?

In addition to its regulation and authorization from the FCA, ETX Capital has many procedures in place to protect customer funds. There are daily security checks to confirm that the broker has sufficient regulatory capital constantly. Additionally, client funds are held separately from the company money, and this is done within investment-grade-rated UK banks.

Conclusion

ETX Capital is an international broker that offers clients access to trading CFDs for a range of assets. ETX Capital prides itself on delivering low spreads and excellent customer service to help the broker stand out from the competition.

ETX Capital’s web trading interface is excellent and very well designed, offering a range of tools and charts to help you make your trades. In addition to its own proprietary platform, this broker lets clients use a version of MetaTrader 4.

With ETX Capital’s long and distinguished history of over 50 years in business, plus the fact they are regulated by the FCA, you should feel absolutely confident choosing this broker.

Visit ETX Capital

Please Note: 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 spread bets and 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.


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eToro Risk Warning: 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

ETX Capital

9

Ease of Use

9.0/10

Reputation

9.0/10

Fees

9.0/10

Customer Support

9.0/10

Payment Methods

9.0/10

Pros

  • Long History & Well Established
  • Excellent Web Trading Interface
  • Large range of Markets
  • FCA Regulated
  • Competitive Spreads

Cons

  • Smaller range of Markets on MT4
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Posted by Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all.


All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

2 Comments

  1. Avatar

    I have traded with many brokers over the years and ETX remains my firm favourite. Very trustworthy company and and a solid trading platform.

    Reply

  2. Avatar

    Hello…is it any first time registration fee for invest in this ETX Capital.. I was asked to put another Ringgit Malaysia One thousand and five hundred as 1st time registration fee after deposit RM500..

    Reply

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