ETX Capital review (2022) Review
Throughout its history, the forex broker has changed its name twice. At first it was known as Tradition UK, and later the founders of the investment company began to offer their services under the name TradeIndex. And only since 2008 the broker received its current name ETX Capital (since then the name has not been changed). The official resource etxcapital.com is available in English only. Therefore, for that category of people who have difficulties in learning a foreign language, working with the site can become problematic. On the other hand, the interface is simple and the information is categorized.
ETX Capital spreads are competitive. Spreads start at just 0.6 pips for popular currency pairs such as EUR / USD. Spreads for CFDs start at 0.5 pips and minimum spreads are 0.08%. For those wishing to trade commodities, spreads start at just 0.025 pips. Finally, for indices, you can find spreads of as little as 1 pip.
Leveraged trading can be an effective way to capitalize on market opportunities. For trading in the foreign exchange market, the leverage is increased to 1:30. For commodities, the leverage is 1:10, and for stocks and indices, the leverage ranges from 1: 5 to 1:10. Minimum deposit from $ 100.
The Financial Conduct Authority (FCA) controls the work of the forex broker. He is licensed to carry out legal activities under the number 124721. In addition, it has a membership of the London Stock Exchange. English registration and all the above facts give reason to think that a forex broker has a fairly high level of reliability.
More than 60 currency pairs with spreads from 0.6 pips are presented among the instruments for trading; trade indices of the world, Europe, USA, Great Britain; shares of the most famous large corporations; gold, oil and other goods; cryptocurrencies; binary options. There is an opportunity to get acquainted with the size of trading costs and margin requirements.
Before registering an account with ETX Capital, there are some fees to be aware of. For example, there is a carry-over charge per night, which will depend on the size of your position and instrument. In addition, if you have not made any trades for 365 days, a monthly inactive commission is charged. But if you opt to return to the platform, ETX Capital will reimburse you for the last three months of inactivity fees.
ETX Capital offers three trading platforms to choose from. Among them are:
- ETX Trader Pro. You will find a decent set of features here. The advantage of ETX Trader Pro is that it does not need to be installed on a computer, because it is a web application;
- Metatrader 4 is the most popular trading platform in the financial market. At first glance, it may seem complicated, but in fact, you just need to take the time to explore all its possibilities.
The team also worked on creating a separate application so that a trader can work with binary options. Reviews from experienced traders say that this site is only suitable for making deals.
ETX Capital provides demo accounts for the 2 platforms separately. If you want to get a demo account, go to the platform tab on the official website and select “Demo”, then follow the prompts to complete the registration. With the demo platform, you can improve your trading skills and become familiar with some of the tools without risking your real money for investments. To activate a demo account, you must specify:
- name and surname;
- e-mail; password;
- country of residence;
- telephone number.
After registration of demo account, you should confirm your email:
But you will have to go through 3 stages of verification for a trading account, including the provision of an income declaration.
Funding and withdrawing funds ETX Capital
To replenish the balance, clients can use the following methods:
- transfer of funds through a financial institution (bank);
- using Visa and Mastercard;
through electronic systems: Neteller, Skrill, SoFort. To withdraw funds, a trader must use the same option through which the account balance was replenished.
ETX Capital advantages and disadvantages
- Regulated by the famous FCA (UK)
- High financial security
- Over 5000 markets to trade
- Low minimum deposit of $ 100
- a small selection of payment services;
- complicated registration procedure;
Pros / Cons