ETX Capital provides Forex, CFD and Binary Options trading, as well as a special type of forecast - spread bets, which are tax-free in the UK. The diversified portfolio includes indices, commodities, stocks and currency pairs.
history of the company
ETX Capital has a rich history. The company was founded in 1965 and specialized in mortgage bonds. In 2002, the company opened a retail derivatives division called TradIndex, which was later renamed ETX Capital.
ETX Capital is the trade name of Monecor Limited, a London-based company licensed and regulated by the Financial Conduct Authority (FCA), and is also a member firm of the London Stock Exchange.
UK regulation is renowned throughout the world for its stringent rules and standards. Brokers must meet numerous requirements, such as keeping customer funds in bank accounts separate from the company's own funds.
Moreover, companies regulated by the FCA must prove their financial stability and have a minimum of 730,000 euros in order to operate legally.
In addition, an additional customer funds guarantee is provided as customers of FCA regulated companies are eligible to participate in the Government Compensation Scheme (FSCS). In the event that a regulated company becomes insolvent, traders can claim compensation up to £ 50,000.
ETX Capital offers two types of accounts, ETX TraderPro and ETX MT4, according to the platforms offered.
ETX Capital set up a deposit of £ 100 or the equivalent in another currency. This initial capital amount is considered average. In comparison, other UK Forex brokers require a minimum initial deposit of $ 500. But in our rating you can also find those brokers whose work starts from $ 1.
Spreads and commissions
ETX Capital offers variable spreads depending on different products and does not charge any commission.
As for Forex, minimum spreads start at 0.7 pips and average 1.2 pips in EUR / USD.
This broker offers different levels of leverage, depending on the type of trade and the instruments being traded. Basically, the maximum leverage for CFDs is 1: 133, and for currency pairs it is up to 1: 200 (1: 400 for products on MT4 platform).
Maximum leverage levels of 1: 200 and 1: 400 are standard in the Forex market.
ETX Capital has two trading platforms to choose from: TraderPro and ETX MT4.
ETX TraderPro is geared towards experienced traders and allows them to choose from several chart formats.
In terms of MT4, this platform is the choice of most traders around the world as it allows clients to fully automate their trades. In addition, MT4 offers many technical indicators, extensive back testing, and an advanced charting package. MT4 allows you to hedge (open two opposite orders on one trading instrument).
In addition, this broker has developed a specialized binary options trading platform called ETX Binary, which allows clients to trade with a wide range of expiration times - from a minute to a month.
All trading platforms offered by ETX Capital are also available on iPhone, iPad and Android devices.
ETX Capital cooperates with 200ForexCashBack, where they promise compensation to every trader who opens an account with ETX Capital in the amount of at least $ 200.
The ETX Capital website has a separate Training section:
schedule of webinars. They are not conducted in Russian, mainly English, Spanish, there are also other languages; training courses are held, details need to be clarified in technical support. The duration of the course is 8 hours, they are free only for those clients who have opened a deposit of at least £ 1000; seminars; Road Shows are periodically held - the management team of the company, analysts meet with clients in different countries of the world.
The site has a section of frequently asked questions, which is divided into eight blocks, which greatly simplifies the work of traders. If the answer to the question was not found, then you can contact the support service by phone or e-mail. It is surprising that such a broker does not offer online chat.
Ways of payment
The broker accepts customer deposits and allows withdrawals via bank transfer, online transfer and credit / debit cards.
ETX Capital does not charge any fees, except for withdrawals of up to £ 100 or equivalent.
Criticism of traders
Despite the fact that the company has been in business for a long time, traders did not have the best opinion about this broker. In the CIS countries, almost no one works with ETX Capital, so it is extremely difficult to find Russian-language reviews.
But in other countries the situation is no better. There are a lot of reviews and reviews in which traders say that ETX Capital is filling orders at strange prices. For some, the account balance is reset to zero on their own. In addition, the technical support is not the best work.
The cooperation with 200ForexCashBack is even criticized, many traders claim that they have not received any cashback.
regulated broker; selection of trading platforms; MT4 is available.
high deposit; no online chat.
ETXCAPITAL is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker ETXCAPITAL makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.
In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. ETXCAPITAL received a score of 1 of 5 on our resource.