- Variety of specialized platforms
- More than 5000 instruments
- Low minimum account size
- Free seminars and webinars
- No live chat support
- USA traders not accepted
ETX Capital is a financial company that provides online trading in spread betting, CFDs and forex. It was founded in 2002 by Monecor Limited and is authorised and regulated by the Financial Conduct Authority. According to their website, they have a platform that suits whatever trading style. Sounds good but is there any truth to this?
ETX Capital has 2 main platforms to offer: ETX TraderPro and ETX MT4. The ETX TraderPro is by far their best and most versatile platform on offer. It is for the more serious traders and comes with trading tools and fully customizable charts while the ETX MT4 is designed for traders who are into technical analysis and those who want to make automated traders. The availability of various platforms that are designed for different trading needs is the main reason why we are giving them a platform score of 9/10.
ETX Capital’s platform design is very easy to understand and we find this as an advantage because it doesn’t take too much system resources and simplifies the overall browsing experience. These are the reasons why we are giving them a Design score of 5/5.
The minimum deposit at ETX Capital is $100, a little lower than the requirements of most brokers in the market. Such amount is suitable for those who have a conservative capital to start with because they won’t need to shell out a huge amount just to open an account. Based on our scoring system, ETX Capital got a a minimum deposit score of 4/5.
Minimum Lot Size
The minimum lot size is 0.01. This will definitely be an advantage for traders who have a preference for investing with a much smaller lot size. This also gives traders the ability to control the risks and for this reason, we are giving this broker a Minimum Trade Score of 4/5.
Currently they have around more than 5000 assets which is far more diverse as compared to majority of brokerages that only offer around 100. You can trade on various stocks and forex including the most popular pair like the EUR/USD, USD/JPY, GBP/USD and EUR/GBP. They also offer global indices such as the Dow, S&P 500, DAX and FTSE 100. Commodities such as gold and silver are also available and it’s also worth mentioning that they now offer CFD trading on cryptocurrencies like Bitcoin. This is the reason why we are giving them a Tradable assets score of 5/5.
Their spreads have competitive rates not only for the major pairs but also for the minor pairs and exotics as well. The EUR/USD pair for example has spread of 0.6 pips and this is considered to be tight. The ultra-low spreads allow for greater profits with traders given that there is less profit being generated for the broker. This can make significant difference when the profits and losses are tallied and for this we are giving this broker a Payouts score of 10/10.
Most forex traders today are getting frustrated with the delay in the processing time of their withdrawals but with ETX Capital, it takes a matter of 1 working day and this is true based on our actual tests. This is the basis for the Withdrawal Time score of 10/10.
Deposit and Withdrawal Methods
Funding your account with this brokerage firm is possible using commonly used banking methods like credit cards, debit cards, Neteller, Union Pay, Skrill and Wire Transfer. This warrants ETX Capital a Deposit and Withdrawal Methods score of 5/5.
This broker doesn’t have a live chat support so you need to contact them via phone or email. They were very friendly and accommodating and the conversation that we had with their support agent over the phone ended up satisfactory. For this ETX Capital notched a score of 12/15 for Support.
Based on the tests that we’ve done, no re-quotes were encountered even when there are huge movements in the market. Such conditions are good for traders especially when market prices are highly volatile and for this, ETX Capital notched a Quote Accuracy Score of 9/10.
ETX Capital is authorised and regulated by the Financial Conduct Authority. They are also known for providing value-added benefits for their clients such as free educational courses (available for deposits over $1,000) and loyalty programs. Most of the feedbacks that we found on trusted forex sites and trading forums showed that most of their clients are satisfied and happy with their trading experience. This warrants a Reputation score of 17/20.
What ETX Capital offers is a trading environment that is generally favorable for their traders and a wide variety of benefits that cannot be easily matched by their competition. They offer free educational opportunities, high level of account security, considerable range of markets and first-rate client support. These are more than enough reasons to choose them as your forex/CFD broker.