ETX Capital Review
ETX Capital is a competitive execution-only firm within the financial service industry with 50 years’ experience in financial markets. ETX Capital was founded in 1965 initially specialising in mortgage bonds before expanding out into retail derivatives in 2002. to Today, it offers traders more than 5,000 financial instruments from its proprietary trading platform and MT4. The commission-free Forex cost structure ranks among the best across the industry, while equity CFDs remain acceptably priced. Quality market commentary and education complement the competitive core trading environment at ETX Capital, which also has a dedicated high net worth (HNW) service desk.
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Regulation and Security
ETX Capital is the trading name of Monecor (London) Ltd, regulated by the Financial Conduct Authority (FCA). It is also a member of the London Stock Exchange (LSE). Monecor (Europe) Ltd. (ex-Investments and Insurance Advisers and Sub Agents Limited), authorized by Cyprus Securities and Exchange Commission (CySEC), caters to EU-based traders from a less competitive trading environment. ETX Capital maintains a clean regulatory track record, segregates client deposits from corporate funds, and offers negative balance protection. An investor compensation fund is available at both units but significantly greater under FCA requirements.
ETX Capital also received a regulatory license from the South African Financial Sector Conduct Authority (FSCA). The license allows ETX Capital to operate as a Financial Service Provider in South Africa and is part of its expansion plans beyond Europe. The UK-based broker maintains a notable presence in the African market, and becoming authorized by the FSCA, one of the most trusted regulators on the African continent, strengthens its position. Following the 2018 regulatory changes by the European Securities and Markets Authority (ESMA), brokers have sought to acquire licenses from business-friendly jurisdictions to offer traders competitive trading environments unavailable under the ESMA framework. The FSCA became a primary destination amid a trusted regulatory environment, with a time zone equal to continental Europe and English as the primary language. The move by ETX Capital displays a deep understanding of the requirements of its traders, and the FSCA license remains a strategic move to ensure it can expand its business.
Since its October 2020 acquisition by Swiss-based private equity firm Guru Capital, ETX Capital has pushed ahead with its expansion plans. It coincides with a surge in demand from retail traders, making the FSCA license a vital step. Another benefit is negative balance protection and the FSCA mission to educate new retail traders, an essential component to lower the retail loss rate at brokers, presently at 74.5% at ETX Capital or the industry average. Nandik Barbhaiya, the chief marketing officer at ETX Capital, said: "Achieving this important milestone is paramount to our expansion plans and is yet another feather in the ETX cap. We are committed to strengthening our relationship with traders in the region and in upcoming weeks we will be working behind the scenes to welcome our South African clients onto our new license." ETX Capital positioned itself competitively with the FSCA regulation, offering traders the best trading conditions from its South African subsidiary.
The UK FCA is the primary regulator for ETX Capital, which holds an additional license from CySEC.
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The commission-free Forex pricing environment at ETX Capital remains among the best among all online brokers. As no commissions are charged, this effectively means that the only trading fees charged except for overnight swap fees are the spreads. The benchmark ETX Capital spreads are, happily, on the competitive side. Traders get a minimum spread of 0.6 pips for the EUR/USD or $6.00 per 1.0 standard lot. Equity CFDs remain acceptably priced and follow the industry average with a minimum commission of 0.10% to 0.20%, dependent on the market. Swap rates on leveraged overnight positions apply together with third-party deposit and withdrawal charges. Cryptocurrency traders face a funding fee of 0.08% per day, and ETX Capital forwards all corporate action to clients, as per industry standard practices.
MT4 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Symbols.
2. Select the desired currency and then click on Properties located on the right side.
3. Scroll down until you see Swap Long and Swap Short.Back to Top
What Can I Trade
Forex traders have 75 currency pairs and 26 Forex forward contracts for a total of 101 assets, ranking it among the Top 20. Seven cryptocurrency pairs, of which three are Bitcoin pairs.Due to current regulatory developments, ETX offers cryptocurrency to professional clients only. ETX Capital also maintains 26 commodity CFDs, 34 index CFDs and futures, ten ETFs, and twelve bond CFDs. The bulk of assets consist of 5,000+ equity CFDs listed in twelve countries on multiple exchanges. The overall asset selection at ETX Capital offers all types of traders plenty of opportunities.
ETX Capital offers traders more than 5,000 assets, ensuring all types of traders have sufficient trading opportunities.
ETX Capital Trading Hours
ETX Capital is open for trading during the same hours as is typical for almost all Forex / CFDs brokers. Platforms are open for trading between 10pm UTC Sunday and 9:55 UTC Friday.Back to Top
ETX Capital offers all clients the same CFD trading account and conditions. The only difference remains between an MT4 trading account or a TraderPro alternative.Clients who opt for Trader Pro may choose any major currencies, while ETX Capital also caters to specific requests. While the maximum leverage for retail traders remains capped at 1:30, the UK financial regulator, the FCA, may increase them since it left the uncompetitive EU trading environment. It remains an area for potential clients to monitor.
ETX Capital Minimum Deposit
ETX Capital requires traders to deposit at least $100 or the currency equivalent in order to open an account. This is slightly on the low side for the industry average, making ETX Capital a relatively accessible broker. Deposits may be made in British Pounds, Euros, and several other more minor currencies, as well as in U.S. Dollars.
ETX Capital offers its traders access to the maximum leverage they are legally permitted to offer, which is 30 to 1 on major Forex currency pairs. Although there are brokers regulated in jurisdictions whose regulators allow higher leverage, leverage at 30 to 1 on Forex should be high enough for the realistic needs of anyone. Commodities and indices are subject to maximum leverage of 10 to 1.
Like practically every Forex broker in the world, ETX Capital offers a free demo account to practice trading and learn how its platforms and execution methods work. Anyone considering opening an account and depositing money with ETX Capital should open a demo account first to familiarize themselves with the broker’s offering, and to practice trading if they are newcomers to the market.Back to Top
The proprietary ETX TraderPro trading platform offers the best trading experience. ETX TraderPro features 60+ technical indicators, multiple chart types, split charting, chart trading, customized workspaces, and easy-to-use risk management tools.
The eight chart types allow traders to visualize price action in a manner that suits them best. Split charting tools are excellent for advanced trading requirements and multi-chart trading strategies, and ETX TraderPro allows for swift layout changes. Scalpers and other high-frequency traders will benefit from the chart-trading functionality, enabling traders to take advantage of opportunities in fast-moving markets. With more than 60 indicators, the ETX TraderPro trading platform offers in-depth technical analysis tools complemented by numerous drawing tools.
The customized workspaces ensure individual flexibility, a feature that more and more clients demand from a competitive trading platform. ETX TraderPro also includes what it labels Dynamic Risk Management. It is part of each deal ticket and presents traders with all the necessary information and tools to effectively manage risk, one of the most misunderstood aspects of trading. Successful traders will use the web-based version of ETX TraderPro. It is also available as a mobile app, ideal for monitoring portfolios on the go and adjusting risk management settings as necessary.
Automated traders get the core MT4 trading platform with the ETX MT4 Remastered upgrade, consisting of numerous add-ons and improvements, which grant traders a competitive edge. Both trading platforms are available as mobile apps.
The ETX TraderPro trading platform features a customizable user interface and a clean design.
The ETX TraderPro trading platform is also available as a mobile app.
ETX Capital offers MT4 plus the ETX MT4 Remastered upgrade.
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The unique feature that stands out is the operating history of ETX Capital, founded in 1965. Forex traders should also consider the competitive commission-free costs structure and asset selection.Back to Top
Research and Education
ETX Capital has an analysis category on its website, where it provides quality market commentary with a theme-based approach. The section makes for an informative read and provides insight to traders. New traders can benefit from the ETX Trading Academy, delivered by the Corellian Academy, and an exceptional webinar series. Nine trading courses increase the educational value at ETX Capital, where traders also find platform guides, eBooks and a glossary. ETX Capital’s approach to education ranks among the most valuable ones available to new traders.
The research at ETX Capital is of great quality and provides valuable insight to traders.
New traders have access to a high-quality educational section at the ETX Trading Academy, where several resources await.
The webinars at ETX Capital provide some of the best educational value, together with the nine trading lessons.
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Customer support for non-clients is available Monday through Friday between 8:00 am and 6:00 pm, while existing clients have access to a representative from Sunday 9:30 pm through Friday 10:00 pm. ETX Capital lists its address, phone numbers and e-mails, but the most convenient form of contact remains the live chat function. An FAQ section answers many of the most common questions, and ETX Capital explains all of its products and services well on its website. Most traders may only require customer support during emergencies, and ETX Capital ensures swift access when needed.Back to Top
Opening an Account
The online application starts with the residence and tax country, followed by the trading account type choice and personal information to complete the initial step. As a regulated broker, ETX Capital must satisfy AML/KYC stipulations, making account verification mandatory. Most new clients will complete it by sending a copy of their ID and one proof of residency document not older than three months.
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Deposits and Withdrawals
Supported deposit and withdrawal methods at ETX Capital consist of bank wires, credit/debit cards, Skrill, Neteller and China UnionPay. There are no internal deposit fees, but costs from payment processors may apply. Withdrawals below £100 or a currency equivalent face a £10 levy, with no costs above that for up to five requests monthly. The withdrawal processing times depend on the jurisdiction and method and can take between 24 hours and seven business days. ETX Capital tries to process all reqeusts before 2:00pm the same day, but there may be some push back on requests due to further checks.
Clients can deposit from within the ETX TraderPro trading platform, but MT4 traders must do so from the back office.
The same applies to withdrawal requests, which in either case are straightforward and hassle-free.
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- Broker's Name : ETX Capital
- Headquarters : United Kingdom
- Regulation : CySEC, FCA, FSCA
- Type of Broker : Market Maker
- U.S. Clients Allowed :
- Minimum Deposit : $100
- Maximum Leverage : 1:30
- Commissions / Spreads : both
- Account 1 : CFD
- Account 2 : Spread Betting
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : MetaTrader 4, Proprietary platform, Web-based
- Platform Languages :
- OS Compatibility :
- Trading Signals :
- Charting Package :
- Market Analysis :
- Chart Trading :
- Automated Trading :
- Scalping :
- Hedging :
- Mobile Alerts :
- E-mail Alerts :
- Trailing Stops :
- Guaranteed Stop Loss :
- Guaranteed Limit Orders :
- Guaranteed Execution :
- One-click Execution :
- OCO Orders :
- Interest on Margin :
- Web-based Trading :
- Mobile Trading :
- Website Languages :
- Support Hours : 24/5
- E-mail Support :
- SMS Support :
- Chat :
Pros and Cons
More than 50 years of experience as an FCA regulated broker in the UK
Excellent proprietary trading platform ETX TraderPro plus MT4 plugins
Competitive asset selection and low minimum deposit
Quality educational content for new traders, including live webinarsr
Limited research despite marketing it as an advantage at ETX
Is ETX Capital legit?
Founded in 1965, ETX Capital is one of the most trustworthy brokerages operational today. It maintains two subsidiaries, one with oversight from the UK FCA and another regulated by the CySEC. Its corporate owner, Monecor (London) Ltd, is also a member of the London Stock Exchange (LSE), and ETX Capital has a spotless regulatory track record.
Who owns ETX Capital?
ETX Capital, launched in 2002 by Monecor as TradIndex, was acquired by a joint venture between the UK-based JRJ Group and the Netherlands-based BXR Group. Following the acquisition, the group decided to rebrand TradIndex into ETX Capital. Since October 2020, ETX Capital is part of Swiss-based Guru Capital, which purchased the online brokerage from JRJ Group.
Does ETX Capital allow scalping?
traders who wish to scalp the Forex market will find more suitable brokers with an infrastructure that supports it.
Is ETX Capital a market maker?
ETX Capital does deploy the market maker model but does not trade against clients in compliance with FCA rules to prevent misconduct.
What is the minimum deposit at ETX Capital?
The minimum deposit at ETX Capital is an acceptable £100 or a currency equivalent. It is low enough for most retail traders.Back to Top
ETX Capital is part of a financial firm that caters to clients since 1965, but as a retail broker, operates since 2002. ETX Capital was acquired by Swiss-based Guru Capital in October 2020, in existence since 2019. Manual traders will benefit from the award-winning proprietary ETX TraderPro trading platform, which presents a professional user interface filled with quality trading tools. With more than 5,000 assets and in the evolving financial landscape, ETX Capital provides its ETX MT4 Remastered upgrade for a superior trading experience.
One of the best assets ETX Capital possesses is the educational section for new traders. It has several high-quality tools, ensuring that beginner traders will understand the fundamentals of trading financial markets. The ETX Capital trading experience is, overall, a good one. Fees are competitive and a relatively wide range of assets are offered for trading, including more than 100 currency pairs for Forex traders, making this broker an especially great choice for anyone seeking to trade currencies. As the broker has been in business for decades and enjoys a prestigious license from the U.K. FCA, these good trading conditions can be enjoyed with peace of mind. CFDs remain acceptably priced, and overall, ETX Capital remains an excellent broker to consider for manual traders.Back to Top
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