ETX Capital Review
With over 50 years of experience under its belt, ETX Capital is an FCA regulated and well established broker. It can provide traders with access to a wide array of markets, competitive spreads as well as industry leading trading platforms. Their aim is to deliver a versatile trading experience to traders and offers a variety of educational resources. Customers of ETX Capital can get access to extremely competitive prices in more than 6,000 different markets and can also benefit from the support provided by its award-winning customer service teams. Even though the platform is based in London, ETX Capital provides its support in numerous countries.
Crypto Comeback Pro is an automated cryptocurrency trading app that automated all of a traders actions and leaves out emotion and fear, decisions are made by the software only on the signs that the markets are crashing or booming. Entering a trade at the right time is %99.9 better than human trading, because it works on an algorithm programmed by expert traders and can ultimitely cut losses and increase profits for even the most novice traders.
The company behind ETX Capital is known as Monecor (London) Limited, which is the trading name of the latter. The company is regulated and authorized by the Financial Conduct Authority (FCA). Established in 1965, Monecor (London) Limited is also listed on the London Stock Exchange.
ETX Capital Trading Instruments
When traders choose to use the services of ETX Capital, they can get access to thousands of markets where they can buy and sell instruments of their choice. You will be able to choose between 50 forex pairs along with equities, commodities, financial indices and most importantly, cryptocurrencies. The commodities that are offered by ETX Capital include five energy, five metals and nine soft commodities. When it comes to equities, users have the option of trading CFD stocks from Singapore, Australia, South Africa, the US and 18 European countries.
ETX Capital Spreads and Leverage
One of the most appealing features of ETX Capital is that it offers tight spreads to its clients with plenty of leverage. In the case of the Forex market, the spreads on the platform start at only 0.6 pips for EUR/USD, which is highly competitive. Indicative spreads of 0.08 are available for some stocks when it comes to equities. The minimum spreads for commodities start at 3 pips and minimum spreads for certain major indices start at 1 pip. The leverage rates for many of the products available on ETX Capital are 100:1. Some of the MT4 products even provide leverage of 30:1 in case of retail clients and 200:1 for professional ones.
ETX Capital Account Types
Rather than offering its clients separate types of accounts, there are two types of platforms offered by ETX Capital to suit different trading styles. These include the ever-popular MT4 and also their own flagship ETX TraderPro. You can use any one of these platforms for opening your account, but you can still trade on the other platform if you want. All you have to do is send an email to the service desk. As you have already done the registration on one platform, it means you have been through the security process so they will not hesitate in letting you use the other platform.
It is also possible for people to have multiple accounts on ETX Capital, including one for each trading platform offered. At any moment, it is possible for people to have five live accounts on ETX Capital. If you want to create more than five live accounts, the broker will work with you, but its compliance time will first do a review and then approve your request. When you have already registered yourself by creating an account on ETX Capital, you can start the process of applying for a new one by logging into the existing one and going to the Profile section.
ETX Capital Demo Accounts
You can find demo accounts for each of the platforms that are available on ETX Capital. In order to benefit from this feature, you need to go to the tab called ‘Platforms’ on the website. Here you will find the ‘Demo’ option and all you have to do is follow the prompts. With the demo account, you will be able to hone your trading skills and get used to the platforms on ETX Capital without risking any real money.
ETX Capital Deposits and Withdrawals
When you want to add funds to your MetaTrader4 account on ETX Capital, you have to log into your account and choose the option of adding funds. There is also the option of withdrawing funds if that’s what you wish to do. You need to fill out the required fields, which also include the amount. In most cases, you are required to provide more documentation for withdrawing money as compared to depositing due to security reasons. If you have multiple accounts on ETX Capital, it is possible for you to transfer funds between them. You can do so by sending an email to customer service and provide them with account numbers for the transfer, your date of birth and address and the amount to be transferred.
ETX Capital has a minimum deposit limit of £100 or the equivalent in another currency. You can make deposits via a bank or wire transfer in USD, GBP, JPY, CHF, AUD, SEK, CAD, PLN, SGD, CZK, EUR, ZAR, NOK, HKD, RON, DKK and HRK. For deposits, this will take only one business day and two to three in the case of withdrawals. The same time periods and currencies are applicable when you are making online bank transfers. Deposits can also be made with major debit or credit cards, with the exception of AMEX. The general processing time for these is one business day and three to five days for withdrawals. Deposits can be made via debit or credit cards in USD, GBP, NOK, ZAR, CHF, EUR, PLN, DKK and CZK.
If you are interested in e-wallets, then again you will find plenty of options and these include Neteller, GiroPay, China UnionPay, Sofort and Skrill. For all of these methods, the general processing time is around one working day and three to five working days for withdrawal processing. You can only make deposits in EUR if you are using GiroPay and Sofort. As far as Skrill and Neteller are concerned, they allow USD, EUR and GBP. China UnionPay allows USD, RMB, EUR and GBP.
The 3-D secure protocol is used by ETX Capital for payment security, which is accepted internationally and adds a layer of security for online debit and credit card transactions. XML messages are used for this purpose, which are sent over an SSL connection with appropriate client authentication. This is an automatic protocol and you will realize that it typically requires you to enter a code that’s provided by the bank via a password or text.
However, there are certain things that traders need to keep in mind regarding deposits and withdrawals on ETX Capital. You can only deposit funds from a debit or credit card or bank account that’s also in your name. Third-party funding is not allowed by the broker. It should also be noted that if you use a different currency for depositing money in your account on ETX Capital, your money will be converted by the broker using the spot rate on which trading closed the previous day. This increase the length of time taken for the deposit to be credited to your account.
The withdrawals can only be sent back to the original source of the funds. If this cannot be done, ETX Capital is going to need some confirmation. The customer service team will inform you of what documentation you need to provide. No withdrawal fee is charged for the first five withdrawals from ETX Capital every month, as long as the withdrawals are at least $100 or more. If you make more than five withdrawals, you will incur a fee of $10 every time and the same is applicable to withdrawals that are below $100.
ETX Capital Fees
One fact that should be noted about ETX Capital is that it does charge an inactivity fee for accounts that are not in use. Specific fees are charged, depending on the currency you use and the charges are applicable every month. The fee for your account as per your currency can be checked by visiting the Payments page on the ETX Capital website. A total of 31 different currencies are available on the website and the charges vary for each. For instance, charges for USD are 25, 20 for EUR, CHF is 20, CAD is 30 and so on.
There are also overnight financing charges applied by the broker. The full details of these charges and fees can be found in the FAQ section of the ETX Capital’s website.
ETX Capital Promotions
There are promotions by ETX Capital and they tend to vary from time to time. The best way to find out about current promotions is to communicate with the Account Relationship Manager. Promotions also expire and their expiration date can also be checked by getting in touch with customer support via email or phone.
ETX Capital Trading Platforms
Mobile trading platforms are offered for both iOS and Android devices, along with desktop platforms by ETX Capital to help their clients’ trade on the go. Overall, two platforms are available to choose from when you want to use ETX Capital for trading on the desktop or on a mobile device. Each of these platforms is specialized and works for traders of a specific trading style.
ETX TraderPro has customizable trading charts and tight spreads. This makes it an excellent choice for accomplished traders who are not afraid of embracing risks for increasing their chances of earning significant returns. This is ETX Capital’s flagship platform. It comprises of an assortment of graphs and charts along with thousands of products to trade. With this platform, you can come to trading conclusions by using a range of charts and numerous drawing tools and this makes it great for advanced traders.
TraderPro is very direct and allows people to trade a product right away by opening the chart thereby reducing the risk of slippage. A pip calculator tool is also provided and drag-and-drop capabilities are also offered. MT4 is also provided to traders by ETX Capital as it is one of the most popular platforms used by people all over the world. With MT4, a downloaded automated expert advisor is available and you can open multiple charts at the same time, which allows you to access all market information simultaneously. Hedging and micro lots are also supported by MetaTrader4.
ETX Capital Educational Resources
A range of educational topics are covered by ETX Capital in the FAQ section. You will be able to find information like the purpose of leverage or that of limit orders with ease. Other than the information that you can find in the FAQ section, other education is also offered by ETX Capital through webinars, seminars and also an advanced education course. Account holders can get access to all of these resources for free. While this might not always be the case, most of the webinars are recorded so they can be viewed later on the education platform.
ETX Capital Customer Support
You can find multilingual customer support on ETX Capital and the FAQ section on the broker’s website can also be accessed in more than 15 languages. You can take advantage of customer service in Spanish, English, Mandarin, Czech, Polish and German. You can get in touch with customer by going to the ‘Contact Us’ section of the website. Here, you will come across contact information for both existing and new accounts. A separate number is provided for the trading desk and customer support for existing accounts. People who have a new account will find a free phone number in the UK as well as an international number.
An international broker ETX Capital offers clients access to a wide range of assets. It can deliver excellent customer service as well as low spreads, which helps the broker stand out from its competition. The web trading interface offered by ETX Capital is smooth and well designed and it comes with a range of charts and tools that can be extremely useful for making your trades. The broker also has its own proprietary platform, but also allows its clients to use the popular MetaTrader4. With its long and distinguished history, ETX Capital is a wonderful choice and is regulated by the FCA.