ETX Capital Review
ETX Capital is one of the oldest brokers on the market and it offers Forex and CFDs trading. With a good reputation and so much experience, it is a platform that may attract many people. The brokerage firm has head offices in London, and it is known for its low tight spreads for the most part. They offer two great trading platforms, respectively MetaTrader4 and TraderPro, which are some of the most popular ones in the world.
That being said, ETX Capital is something that should be researched carefully before you attempt to start trading with it. This is because there may be different things regarding its safety that you may want to be aware of before you invest your time and money in this company. In this ETX Capital review, you will learn everything relevant about the broker to be able to make your decision in the end.
Who Is ETX Capital for?
ETX Capital is ideal for people looking for variety in terms of trading platforms. That is because the broker offers not only MetaTrader4 but also TraderPro. Besides, you can use the platform on both desktop and smartphone, giving you more opportunities to trade.
ETX Capital is also recommended for novice traders thanks to the fact that there are plenty of educational materials available. People have access to different quality materials, which gives them the chance to learn a lot about the industry before they start trading, but even while they are in their trading journey. Even better, people also have access to a demo account to increase their knowledge about ETX Capital even more before starting trading.
People who are from other countries can also use the broker because the platform is available internationally. So, many customers from all over the world have the chance to start trading with ETX Capital.
If you’re someone looking for competitive spreads, then ETX Capital is also for you because it has some of the best ones.
Things We Like
ETX Capital has some great aspects that we were able to notice. For instance, we loved the fact that opening an account doesn’t require a lot of hassle. The entire process is a very easy one and you can get your account very fast. So, people who are impatient to trade will not have to become frustrated waiting for their accounts to be approved.
Another great aspect was the access to some wonderful educational tools. Most people who have tried them had amazing things to say about these materials, and if you check the customer reviews, you can see multiple clients praising them.
Next, we loved the fact that people have various deposit and withdrawal options. Many other platforms are limited in terms of options, so we were more than happy to see ETX Capital offering more variety.
Things We Don’t Like
Sadly, we were also disappointed by a few factors. First of all, you can only trade Forex, CFDs, and crypto, which is pretty limiting, especially considering that some people want more chances to trade. Then, the CFD fees are very high, which can put off a lot of new traders, particularly if they do not have a lot of money to spend on trades.
Moreover, the research tools are not that great. They are basic at best. So, they aren’t that helpful.
In terms of customer support, you will only be able to contact the team at certain times as they are not available 24/7, which is another drawback.
Pros / Cons
- Opening an account is an easy and quick process
- A variety of options for deposits and withdrawals
- The spreads are very competitive
- Can only trade Forex, CFDs, and crypto
- The research tools are pretty basic
- The CFD fees are very high
Safety and Regulation
Let’s take a look at some safety matters that you may want to know before opening an account with ETX Capital:
Who Is ETX Capital?
ETX Capital is a Forex and CFD broker that operates globally. Monecor (London) Ltd. is its parent company, and it was established back in 1965. The broker is pretty reputable, as it has decades of experience. Over the years, it was able to grow into a respectable and trustworthy company thanks to its investment and financial products, as well as amazing trading services.
The company is headquartered in London and offers customers access to more than 5.000 financial markets.
Is ETX Capital Regulated?
The broker is regulated by the Financial Conduct Authority of the U.S. The parent account, Monecor (Europe) Ltd., is regulated by the Cyprus Securities and Exchange Commission.
ETX Capital Licenses
- Authorized by the Financial Conduct Authority, license registration number 124721
Is ETX Capital Safe or a Scam?
Safety is ensured on ETX Capital through various methods. First of all, the broker is not only regulated, but it has also been around for decades, which can only mean that they are good at ensuring customer safety. Then, it offers very good investor protection, and most clients belong to a top-tier financial authority, which is great. To make things even better, they also offer negative balance protection.
You should just be aware of the fact that there is no financial information found publicly, and the broker isn’t listed on the stock exchange either. This is a bit of a red flag, especially if you are looking for transparency. What’s more, there isn’t any banking license either, which is another concern.
Countries It Accepts Clients from
ETX Capital accepts clients from all over the world with a few exceptions. Some of the countries the broker accepts are Germany, South Africa, Australia, Qatar, Saudi Arabia, Denmark, Hong Kong, India, Thailand, Norway, France, the United Kingdom, and many others.
As for the banned countries, traders cannot use the platform if they are from Niger, Togo, Cote D’Ivoire, Zimbabwe, Iraq, Iran, Canada, Ghana, Liberia, Cuba, or the United States.
The broker has won various awards, with four of them being received in 2021 alone. The most recent award they won is the Best Online Trading Platform award, given at the “Shares” magazine awards.
Range of Offerings and Products
ETX Capital is not that great when it comes to the products and offerings it has, because you can only trade Forex, CFDs, and cryptos. You have 4 cryptos, 11 bond CFDs, 30 commodity CFDs, 65 ETF CFDs, 5,000 stock CFDs, 35 stock index CFDs and 62 currency pairs.
For this platform, the leverage can go to 1:30 for Forex trading, 1:10 for commodities, and from 1:5 to 1:10 for indices and equities.
MetaTrader 4 and TraderPro are the two platforms offered by ETX Capital. They are qualitative and popular and are great tools – especially when used by someone with experience.
ETX Capital has a web, desktop, and mobile platform. The web one has a good search function and is overall very user-friendly, and it has great customizability as well. It has no 2-step login or clear fee report, though. Meanwhile, the desktop platform has price alerts and a clear fee report, as well as good customizability. The design is pretty outdated, though, and it lacks a 2-step login. Lastly, the mobile platform is pretty great, coming with several order types and a good search function. Again, it has no 2-step login, though.
With ETX Capital, you can only open a basic live account type. It is also only available for individuals, so you cannot open corporate accounts.
You can also open a demo account to get used to the platform before settling got a live account.
Deposits and Withdrawals
Deposits can be done using cards, e-wallets, and bank transfers. There isn’t any deposit fee either. Unfortunately, there are only 3 base currencies.
What Is ETX Capital’s Minimum Deposit
The minimum deposit at ETX Capital is only $100.
You can do withdrawals with bank transfers, cards, and e-wallets too, and they are free.
ETX Capital Promotions
ETX Capital doesn’t offer promotions to its clients, which is pretty disappointing.
Client Support and Education
ETX Capital is rich in educational materials – so, learning more about the platform and the trading world will be easy and fun for beginners and professionals alike. You have access to a demo account, as well as webinars, educational videos, trading platform tutorials, educational articles, and more.
Verdict – Overall Rating
ETX Capital is a great brokerage firm. Besides its multiple educational materials, it also has a low minimum deposit and gives you the chance to deposit and withdraw for free. Not to mention that it also has a lot of experience, and it is regulated by top-tier authorities. Unfortunately, you can only trade CFDs, Forex, and crypto, which is limiting, but for those who are into these types of trades, the broker can offer an amazing experience. So, overall, this is one of the best traders out there.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.
There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
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