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ETX Capital Review

Author By Jeffrey Cammack
Updated: March 1, 2021
Overall Rating
4.07 4.07 / 5
Min. Deposit
GBP 100
Regulators
Trading Desk
Trading Cost
USD 6
Website Language
English
Support Language
English
AlertMost retail CFD accounts lose money. Your capital is at risk.

Summary

ETX Capital is a market maker broker with a multi-asset focus that has been operating from its London headquarters for more than 50 years. Its award-winning platform, TraderPro, is popular amongst traders and spreads are competitive with other traditional brokers.

With award-winning technology and an emphasis on educating beginners, ETX Capital is a popular choice for new traders looking for a traditional broker with professional client service.

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
1110.503.5/ 5
Assets Available
111104/ 5
Customer Service
111003/ 5
Beginner Friendly
Standard
Bonuses

Account Information

Base Currencies
EUR, GBP, USD
Number of FX Pairs
50+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.70 pips
Commission
Fees Included in Spread
EUR/USD
0.6 pips
GBP/USD
0.9 pips
USD/JPY
0.9 pips
Max. Leverage
30:1

Company Details

Company Name
Monecor (London) Ltd
Founded
2002
Office Locations
United Kingdom, Russia

Is ETX Capital Safe?

ETX Capital is the trading name of Monecor London Limited, a UK-based financial services company founded in 1965 and listed on the London Stock Exchange.

Regulated by the FCA (license number: 124721) since 2001 and CySec (licence: 096/08) since 2008, ETX Capital has won multiple awards for its trading tools, trader education and platform. Recent awards include Best Trading Tools 2019 (Online Personal Wealth Awards) and Best Online Trading Platform 2018 (Shares Magazine) for the ETX TraderPro proprietary trading platform. 

As a long-established, publicly-listed financial company with strict regulation and frequent industry recognition, ETX Capital is a safe broker to do business with.

Trading Conditions

ETX Capital is a market-maker broker and trading conditions are in line with what can be expected from brokers of this type. On offer are two live accounts – separated by platform – and 60+ FX currency pairs on instant execution. Leverage maximum in Europe is 30:1.

Account Types

The two account types are split by platform: MT5 and the proprietary ETX TraderPro and both accounts require 100 GBP (or currency equivalent) minimum deposit. Demo accounts are also available on both platforms and we recommend doing so if you do decide to use TraderPro, as it is quite different from popular third-party software.

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
MT4
GBP 100
200:1
0.60
None
Account Details
TraderPro
GBP 100
200:1
0.60
None
Account Details

TraderPro: If you do decide to use ETX Capital’s own platform you will be rewarded with slightly tighter spreads – minimum being 0.6 pips on the EUR/USD

MT4: The only real difference with the MT4 Account is the slightly wider spreads, on the EUR/USD you can expect a minimum of 0.8.

Spreads and Commissions

The spreads at ETX Capital are tight overall considering it is a market maker. 

Trading at ETX capital is commission-free on both platform choices.

Deposit and Withdrawal Fees

ETX Capital does not charge for deposits, but for withdrawals under 100 GBP, or currency equivalent, a 10 GBP administration fee will be charged.

Inactivity Fee

An inactivity fee of 25 USD will be charged every month for dormant accounts. A dormant account is one where no trading activity has taken place for 365 days. These charges are imposed to discourage money laundering.

ETX Capital for Beginners

Education is one of two main focus areas for ETX Capital. With awards for Best Education 2018 (Online Personal Wealth Awards), Best Forex Education 2018 (UK Forex Awards) and Best Trading Education 2018 (Shares Magazine), newcomer traders will find high-quality training material in a multitude of formats.

Educational Material

ETX Capital has targeted courses for different asset classes, webinars, ebooks and platform guides. The Learn Forex Course is a light 24-minute course designed to act as a quick starter guide to inspire confidence in the new trader. Other similar courses are available for learning indices, commodities, shares and cryptocurrencies.

While this course is unique in that it offers a different set of material for each of the asset classes, the content itself is limited and would leave a trader who was familiar with the basics of Forex trading lacking. Comparatively, the education section is thin compared to the education sections offered by other market maker brokers.

Analysis Material

All analysis material that ETX Capital has to offer is open to the public. The research team posts frequent analysis of both past and future events as well as a daily round-up. While this would not directly translate to trading opportunities, they do show traders what to look for and help newcomers stay on top of the news – be aware that, as ETX Capital is a multi-asset broker, much of the analysis relates to non-currency assets.

Customer Support

Multi-lingual customer support is available 24/5 by telephone or email.

Existing clients are provided with a separate phone number to shorten waiting times and personal account management.

Trading Platforms

ETX Capital ZAR Charts
ETX TraderPro

Winner of numerous awards, the ETX TraderPro software is proprietary and built for experienced traders. While MT4 is offered to less-experienced traders or those who want to use the industry standard, TraderPro provides more markets, customisation and trading tools. Recent awards TraderPro has won are:

  • Best Trading Platform – Online Personal Wealth Awards 2018
  • Best Trading Platform for Professionals – Online Personal Wealth Awards 2019
  • Best Forex Trading Platform – UK Forex Awards 2018
  • Best Online Trading Platform, Shares Awards 2018
  • Best Trading Tools – Online Personal Wealth Awards 2019

The MT4 platform is the most commonly used trading software in the CFD trading industry. With the ETX MT4 platform, traders can use Expert Advisors for automated trading, trade micro-lots, use MT4 hedging and one-click trading.

Free VPS is available for clients who deposit more than 2000 USD (or equivalent) and trade five lots per month. Should clients use a VPS and not reach the trading qualification a VPS subscription fee of 25 USD will be charged to the account balance.

Mobile Trading Apps

A mobile version of the ETX Trader Pro software is available for Android and IOS devices, but recent comments from the community suggest that the application is buggy and some of the main features do not work.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the ETX Capital offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

ETX Capital Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. ETX Capital would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Conclusion

Overall, ETX Capital is a solid, traditional broker. Its proprietary TraderPro platform is certainly one of the best in the business and the education material on offer is world-class, but the limited account types and average trading conditions are a bit of a disappointment. Highly recommended for beginner traders who want to get a good understanding of Forex trading relatively cheaply, but more experienced traders may want to look elsewhere.

AlertMost retail CFD accounts lose money. Your capital is at risk.

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.07/ 5
GBP 100
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Equities
50+
5
  • Tight spreads
  • Great platform choice
  • Poor customer service
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
1110.503.5/ 5
111104/ 5
111003/ 5
77.9% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.70 pips
MT4
TraderPro
ETX
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Unionpay
Fees Included in Spread
1110.503.69/ 5
GBP 200
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Equities
52
99
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
111104/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
11110.54.5/ 5
111104/ 5
67% of retail investor accounts lose money when trading CFDs with this provider
30:1
1 pips
Professional
Standard
etoro
Visa
Mastercard
Neteller
Unionpay
Skrill
Paypal
Fees Included in Spread
1110.503.38/ 5
GBP 250
Market Maker
Commodities
Cryptocurrencies
Forex
47
4
  • Good for beginners
  • Great customer support
  • Copy trading accounts
  • Expensive withdrawals
  • Local regulation only
111003/ 5
110.5002.5/ 5
111104/ 5
111003/ 5
1110.503.5/ 5
111104/ 5
11110.54.5/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
200:1
1.50 pips
Bronze
Gold
Premium
Silver
Sirix
Bank Transfer
Neteller
Visa
Mastercard
Fasapay
Fees Included in Spread

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