ETX Capital Review

Author By Jeffrey Cammack Author Information Updated: October 27, 2020
Overall Rating
4.07 4.07 / 5
Min. Deposit
GBP 100
Max. Leverage
300:1
Min. Spread
0.7 pips
Regulators
Regulator Origin
Trading Desk Type
AlertMost retail CFD accounts lose money. Your capital is at risk.

Summary

ETX Capital is a traditional FCA regulated market maker broker which provides traders with assets that include Forex, Indices, Shares, Commodities, and Cryptocurrencies.

With award-winning technology and an emphasis on high-quality education material for beginner traders, ETX Capital is a popular choice with 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

Trading Conditions

Min. Deposit
GBP 100
Base Currencies
EUR, GBP, USD
Fx Pairs
50+
Hedging Allowed
Yes
Scalping Allowed
Yes
Swap Free Accounts
Yes

Average Spreads

Euro/USD
0.6
GBP/USD
0.9
USD/JPY
0.9

Company Details

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

Is ETX Capital Safe?

ETX Capital is a brand of Monecor London Limited, which is headquartered in London, founded in 1985, and listed on the London Stock Exchange. They have satellite offices in Denmark and the Czech Republic.

In recent years has won respected industry awards that express the industry’s response to the quality FCA regulated service they operate.

Regulated by the FCA (license number: 124721) since 01/12/2001 ETX Capital has won multiple awards for the quality of education and their proprietary platform in 2018 and 2019 from respected award shows in Europe.

ETX Capital is safe for traders.

Trading Conditions

The trading conditions are in line with what should be expected from market maker brokers. The live account offers 60+ FX currency pairs on instant market execution.

Account Types

Traders can enjoy a single live account type, in addition to the demo account option. Having a single account option is becoming more common as the broker rewards higher-deposit traders with tighter spreads.

Display Name
Min Deposit
Max Leverage
Min Spread
Commission
Brokers
MT4
GBP 100
200:1
0.6
None
Account Details
TraderPro
GBP 100
200:1
0.6
None
Account Details

Spreads and Commissions

The spreads at ETX Capital tight considering they are the market. EUR/USD is as tight as 0.6 pips (average 1.01), while GBP/EUR has a minimum spread of 2 pips (average 2.69).

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

Deposit and Withdrawal Fees

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

Inactivity Fee

An inactivity fee of 300 ZAR (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 (Online Personal Wealth Awards 2018), Best Forex Education (UK Forex Awards 2018) and Best Trading Education (Shares Awards 2018) 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 writes an analysis of future news events that are published a couple of times a month. 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.

Customer Support

Multi-lingual customer support is more traditional at ETX Capital with opening hours from Monday to Friday from 7:30 am – 9:00 pm (GMT) either 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 Capital ZAR Charts – Platform: ETX Trader Pro

Winners of numerous awards, the ETX Trader Pro software is proprietary and for the expert trader. While MT4 is offered to less-experienced traders or those who want to use the industry standard, Trader Pro provides more markets, customisation and trading tools. Recently awards ETX 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
ETX Capital USDZAR Chart
ETX Capital USDZAR Chart – Platform: ETX Trader Pro

The MT4 platform is the 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 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. 81% of retail investor accounts lose money when trading spread bets and 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.

AlertMost retail CFD accounts lose money. Your capital is at risk.
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, 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
81% of retail investor accounts lose money when trading CFDs with this provider
300:1
0.7 pips
Yes
Yes
MT4, TraderPro
Yes
Bank Transfer, Mastercard, Maestro, Neteller
Fees Included in Spread
1110.503.33/ 5
USD 200
Market Maker
Commodities, Cryptocurrencies, Forex, Equities
47
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
62% of retail investor accounts lose money when trading CFDs with this provider
400:1
1.0 pips
Yes
Yes
Professional, Standard
Yes
etoro
Mastercard, Neteller, Skrill, Paypal
Fees Included in Spread
1110.503.24/ 5
USD 500
Market Maker
Commodities, Forex, Equities, ETFs
48
0
  • Good range of accounts
  • Wide range of assets
  • Wide spreads
  • Limited education
  • Limited market analysis
  • High minimum deposit
1110.503.5/ 5
110002/ 5
111104/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
111003/ 5
67.95% of retail investor accounts lose money when trading CFDs with this provider
400:1
1.8 pips
Yes
Yes
Gold, Islamic, Mini, Platinum
Yes
MT4, Sirix
Mastercard, Maestro, Skrill, Neteller
Fees Included in Spread
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AlertMost retail CFD accounts lose money. Your capital is at risk.

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