ETX Capital is a brokerage firm based in London it was established in 1965, they provide high tech services that are innovative and revolutionary. ETX Capital has over 5000 markets that they provide pricing for, that is a huge number and that only means one thing they give their clients options when it comes to trading.
ETX Capital is a well regulated broker, the company that the broker is under is called Monecor Limited, the company number is 00851820 they are registered by the Financial Conduct Authority and are regulated by the same. The Financial Service Register number is 124721.
They are members of the London Stock Exchange, this means that they are reputable and have a long track record as a company that provides quality financial services.
ETX Capital: Review of Trading Platforms
ETX Capital offers three types of trading platforms; the platforms cater to the trading requirements of the different type of traders within the brokerage firm. These platforms are:
- ETX Trader Pro
- ETX MT4
- ETX Binary
ETX Trader Pro
ETX Capital has their own in-house trading platform. The platform is called ETX Trader Pro; this platform is dynamic and efficient, advanced traders will find it rather useful.
Some of the selling points are a wide range of tradable instruments, charts, and indicators. It also has low spreads, other features like a trailing stop, different order types and customizable charts. This platform is suitable for traders who want to test their analytical skills.
ETX MT4
The MetaTrader 4 platform is the most popular platform in the world, the firm made it a point to include it among the trading platform they offer. This has increased the number of clients registering into the firm.
The most popular feature of this platform is the automation feature; the use of Expert Advisors in trading is a common among the users of this platform.
ETX Binary
The binary platform is suited for that ultra short term trader, who wants to be in and out of the market fast. With a defined risk and return before hand, this makes this platform one of the best binary platforms out there.
Traders who want to trade try the call and put type of options will definitely have a thrill trading using this platform. Also a wide range of markets to choose from is an added bonus.
ETX Capital has come of age and has realized the need to have their trading platforms optimized for mobile use and so they have created mobile platforms for each of the above platforms. Their traders will not only enjoy trading from their monitors but also from their phones and other mobile devices.
Account Types Review
ETX Capital has a standard account with a minimum deposit of $100; this is an affordable amount for any trader who wants to start their trading career. This amount is subject to all the above mentioned trading platforms; this means having made that deposit one can trade from either platform.
They also have demo or practice accounts that are a good for trying out new strategies, familiarizing oneself with the platform. This can be used as a gauge before depositing real funds.
Commission & Spreads
ETX Capital has some pretty tight spreads on all its tradable instruments, this means the tighter the spread on a given asset, the higher the chances of turning a profit and minimizing a loss. The spreads on the forex pairs start from 0.7pip spread for the popular EUR/USD.
They also have an indicative spread of 0.08 for some of the stocks offered. The commodities attract a 3 pip spread which is fairly low compared to other brokers offering the same service. The indices have some of the lowest spreads, a 1 pip spread is a sure winner.
The low spreads allow the trader to keep much of their profits, and keep their losses at the minimum. This will allow for the survival of the trader in the markets for a long period of time.
Customer Support
ETX Capital customer service is made available between 7.30am to 9.00pm (London Time) from Monday to Friday. Their availability between those periods is important because they can help out the local and international clients with their queries.
ETX Capital has two contact numbers: a loal number and an international number for their international clients.
Pros
- ETX Capital offers the very low spreads on its tradable instruments; this kind of service makes them a good broker to work with.
- The various types of platforms gives the clients a wide array of choices when selecting a platform that suits them.
- For all traders who are constantly on the move, they can utilize the mobile trading platform offered and still catch up with their trades wherever they are.
- ETX Capital is under the watchful eye of the FCA and as a member of the LSE, they have a lot to uphold to avoid any cases of malpractice.
- ETX Capital have afforded their clients a wide range of markets to chose from, the client can always have the best markets to trade under any given condition.
Cons
- The unavailability of a live chat feature which is useful tool when it comes to customer support is huge let down.
- ETX Capital does not offer a choice when it comes to trading accounts all individuals are put on a level playing ground.
- International clients have might have a small problem contacting them because they lack a localized number. This would be important to serve the international clients better.
