Table of contents:
- 1 About ETX Capital
- 1.1 Is ETX Capital serious or not?
- 1.2 High standards of security and regulation
- 1.3 Wide range of securities and instruments on the best terms
- 1.4 Several options for deposits and withdrawals
- 1.5 Good service for the customers
- 1.6 Clear structure of the website makes orientation easy
- 1.7 Flexibility in trade through the App
- 1.8 Conclusion
- 1.9 With which platforms is trading possible?
- 1.10 How are payments protected?
- 1.11 What education material is offered?
- 1.12 How Trustworthy is ETX Capital?
ETX Capital user-ratings: $100
Asset varierity - 10/10
Trading platform - 10/10
Support - 8.5/10
Fees - 8.5/10
Deposit/Withdrawal - 10/10
Facts about the company:
- Type: Spread betting and CFD Provider
- Regulation: FCA (UK)
- Minimum deposit: $100
- Demo account: Free
- Markets: Forex, Indices, Shares, Commodities, Cryptocurrencies, CFDs, Binary Options
- Innovative charts
- Fully authorized and regulated by the FCA
- Award-winning provider
- Various platforms to trade with
- Great education offer
- Spreads from 0.6 pips
- No live chat available
About ETX Capital
ETX Capital is almost a time-honored representative of the industry, which has been active in the financial business for more than 40 years now since the parent company Monecor was founded in 1965. This extensive experience is naturally also noticeable in daily trading, which is handled by the provider ETX Capital.
First of all, it is the huge selection that the online broker offers its customers for trading. In addition to CFD trading, trading instruments from Forex are offered, and last but not least, an additional form of trading is available with the instrument of binary options. However, it was not only the large selection that surprised us at ETX Capital but also the technically clean execution of the trade at conditions that are very close to the market in the case of spreads. And also the commissions are absolutely competitive.
|Companies||ETX Capital c / o Monecor (London) Ltd|
|address||One Broadgate London EC2M 2QS|
|phone||0800 589 2619|
|firstname.lastname@example.org or email@example.com|
|Service times||Monday to Friday 7:30 a.m. to 9:00 p.m. (British time)|
So while trading can be carried out cheaply and technically flawlessly, most investors also expect support from their online brokers beyond the actual trade. Here too, customers can rely on a full range of services. In case of technical problems or questions about the conditions, support is on hand and can be contacted by phone or email. In addition, a wide range of training courses ensures that knowledge and experience in trading are systematically expanded. All in all, our experience has shown that with this provider you have chosen a fully-fledged online broker, which offers above-average performance in trading itself and also beyond, whereby the offer is consistently at a highly professional level.
Is ETX Capital serious or not?
Regardless of characteristics such as Internet presence, trading opportunities, or conditions, in our experience, the aspect of seriousness should be evaluated. This aspect is particularly important because successful trading can only take place if the online broker takes issues such as deposit security, serious processing of deposits and withdrawals, and fair implementation of trading at the announced conditions really seriously. When assessing these issues, the investor can in principle rely on two perspectives. In addition to the experiences that other traders have made, the control by supervisory authorities can be used as an important reference.
On both levels of consideration, in our experience the conclusion that ETX Capital is a reputable provider is permissible. So far, no cases have come to light that cast doubt on the reliability of this provider. Furthermore, in the case of ETX Capital, the investor can rely on reliable regulation that ensures that everything is in order and there is no need to fear fraud or rip-offs. In addition, ETX Capital is regulated by the FCA.
High standards of security and regulation
Another important aspect that we do not want to ignore in our test is the question of deposit security and regulation of the provider. The two aspects are interlinked in that regulated providers are obliged to take various measures, including safeguarding the deposits held in customers’ trading accounts. The broker ETX Capital is based in the financial capital London and is therefore regulated by the FCA. This means that it can be relied upon to comply with basic accounting and capital adequacy standards. The main objective of regulation is to prevent insolvency on the one hand and to guarantee fair treatment of customers on the other.
However, since even strict regulations cannot completely rule out the possibility of insolvency, customers’ money should be secured even in the event of insolvency by managing it in separate accounts in accordance with the regulatory requirements. These accounts are held with sound British banks, which are themselves subject to British deposit protection. This means that, even in the worst case, the investors’ assets are protected. And investors are also protected against fraud or rip-offs with this online broker.
Wide range of securities and instruments on the best terms
While we have already pointed out the very wide range of trading opportunities, in this section we will take a closer look at the conditions, the levers, and, of course, the available underlying.
Basically, the trading opportunities can be assigned to the categories forex, binary options, stocks, commodities, and indices. However, the corresponding values can only be traded in the form of so-called contracts for difference, CFDs for short, i.e. the trader does not acquire a certain value directly, but via the instrument of a CFD and the use of borrowed capital, which is provided by the broker. In the case of the provider ETX Capital, the trade is settled on the basis of spreads; no further fees or costs are expected beyond this.
First of all to trading with Forex products, i.e. the currency pairs. Here a large selection of combinations is available. However, the market is dominated by the so-called majors, the most important currencies in the world. As a result, the spreads are very different. In the case of the currency pair US Dollar vs. Euro, a spread of 0.7 points or more is due with an offered leverage of 1:200. For the other currency pairs in this area, spreads starting at 0.9 points can be expected with the same leverage. A total of around 50 currency pairs are available for trading.
The range of underlying CFD trading with shares is considerably wider. However, due to the higher volatility that can be expected in the price development of shares, the levers that can be used are significantly lower than in currency trading. The leverage ratios range from 1:20 for large British or European and American stocks to a ratio of 1:3 for Australian stocks. The average spreads are between 0.1 and 0.4 points. A wide selection also awaits investors in the commodities category. Here, for example, gold can be traded with a leverage ratio of 1:200 – with spreads starting at 0.3 points. The other end of the spectrum is natural gas, which is offered for trading with a leverage ratio of 1:3 and can be purchased with a spread of 0.1 or more. In contrast, the available levers in the area of indices are somewhat higher. Here, too, investors have a broad selection of the most important international stocks at their disposal.
Finally, we would like to take a look at binary options. Here, too, an extensive selection of stocks from all categories is available for trading in binary options. You can choose between maturities from one minute to one day. Besides the classic options, the One Touch instrument is also available.
With the values mentioned here, we have only shown a very small part of the available program of ETX Capital. Our experience has shown that overall, a very broad range of underlying can be expected, which in some regions, however, goes beyond the most important securities. In the UK, for example, shares of small and medium-sized companies can also be traded as CFDs.
To sum up:
- assigned to the categories forex, binary options, stocks, commodities, and indices
- A total of around 50 currency pairs are available for trading
- The leverage ratios range from 1:20 for large British or European and American stocks
Several options for deposits and withdrawals
Customers can also access a wide selection in the Deposits and Withdrawals department. Initially, the classic bank transfer is available. In addition, deposits can be made using the online payment services Skrill, Neteller, Giropay, and Sofort. In our experience, the credit card is a very uncomplicated method of payment. Here ETX Capital states that practically all common credit card formats are accepted.
And also with regard to the possible currencies, customers have a very wide choice. In addition to the important currencies such as Euro, US Dollar, British Pound, or Swiss Franc, the trading account can also be capitalized with Norwegian Krone or South African Rand. The same options are also available if capital is to be withdrawn from the trading account.
The usual processing time specified by the Online Broker is one working day. In total, however, two to three working days must be allowed for the debit process until the process is completed and the money is in the investor’s account. Overall, experience has shown that customers can rely on the provider completely in this respect as well.
Good service for the customers
The quality of a service department can be judged by two main criteria. One is accessibility, i.e. the possibilities available to investors to reach an employee. In addition, the best accessibility is of course of little use if the quality of the information leaves something to be desired. With regard to the provider ETX Capital, however, our test has shown that satisfactory results can be expected in both respects. The telephone service is available from 7.30 am to 6 pm, whereby the British time is decisive here. Of course, customers can also contact the service team by email, not only outside these hours. However, online chat is not available.
|Support available:||7:30 am to 9:00 pm (London Time)|
|Telephone:||+44 (0) 20 7392 1494|
Under the category support, the very broad range of information and education services that ETX Capital offers its customers can also be mentioned. Traders can first try to find a solution to their questions by using a keyword search. In addition to technical questions, numerous contents from the basic knowledge area are also available. In addition, ETX Capital offers webinars at regular intervals, which are also held in German.
Clear structure of the website makes orientation easy
During our test, we got the impression that the company had put a lot of effort into the design of the website. Despite the complexity of the offer, we succeeded in developing a very clearly arranged product, in which even newcomers will find their way around very quickly. The most important information and trading conditions are clearly summarized for each category. Technical information and background information can also be found in the corresponding sections. The offer also includes a demo account, with which all trading functions can be tested initially without any real capital investment. Here the investor can also convince himself of the advantages of one of the three trading platforms offered by ETX Capital.
Flexibility in trade through the App
As befits a modern online broker, a convenient solution for mobile trading is also provided. For all three trading platforms offered by ETX Capital, mobile versions are also available, so that the trader is always up to date and does not have to stand idly by during important market events. The solutions available as apps offer a wide range of instruments for trading, so that mobile trading is possible. There is also no need to do without analysis functions and special order types.
With the online broker ETX Capital, we have tested a very well positioned provider, which offers its customers not only a wide range of CFD trading but also trading with binary options. According to the variety, several trading platforms are available, which can of course also be used with the mobile device.
ETX Capital’s offer not only includes a very wide selection of trading platforms and underlying but also a well-stocked up offer of background information, which helps customers to acquire a profound basic knowledge for trading. With regard to security and regulation, investors can always rely on a high level of service. There is no need to fear rip-offs or fraud with this broker.
Most asked questions:
With which platforms is trading possible?
With ETX Capital, there are a lot of trading platforms available: ETX TraderPro, ETX Connect App, ETX MetaTrader 4, and ETX MetaTrader Remastered are possible trading platforms. In addition, it is possible to trade ETX TraderPro via the app.
How are payments protected?
ETX Capital takes security and protection of funds very seriously which is why the broker has a security 3D protocol. Moreover, SSL-connections helps to protect funds.
What education material is offered?
ETX Capital offers a wide range of education material to its clients including seminars, webinars, courses and ebooks. In addition, ETX Capital offers further learning material concerning different trading markets.
How Trustworthy is ETX Capital?
ETX Capital is a trustworthy broker which takes the protection of customers’ funds very seriously. In addition, it is regulated by the British FCA. Further ETX Capital is a really transparent provider that is always available for any client question.