ETX Capital Broker Review

Author By Jeffrey Cammack
Updated: September 24, 2021
Overall Rating
4.07 4.07 / 5
Rated #36 of 68 Recommended Brokers
Min. Deposit
GBP 100
Regulators
Trading Desk
Trading Cost
USD 6
Website Language
English
Support Language
English
AlertAccepts Indian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & ETX Trader Pro platforms supported. ETX Capital Group is regulated by the FCA.

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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

Account Information

Base Currencies
EUR, GBP, USD
Number of FX Pairs
62
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.60 pips
Commission
Fees Included in Spread
EUR/USD
0.81 pips
GBP/USD
1.58 pips
USD/JPY
1.06 pips
Max. Leverage
30:1

Company Details

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

Pros

  • Tight spreads
  • Great platform choice

Cons

  • Poor customer service

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.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
FCA
FSCA
CySEC
Market Maker
2002
United Kingdom, Russia
Rollover Fee

 

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.

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
ETX Capital
11110.54.5/ 5
EUR, GBP, USD
0.60 pips
USD 6
0.81 pips
1.58 pips
1.06 pips
USD 0
IQ Option
111003/ 5
EUR, GBP, RUB, USD
0.70 pips
USD 7
5.00 pips
7.00 pips
8.00 pips
USD 0

 

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.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
MT4
USD 100
200:1
1.01
None
Account Details
TraderPro
USD 100
200:1
0.80
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 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.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
ETX Capital
Medium
IQ Option
None

 

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.

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Broker
Platform Choice
Copy Trading
Platforms
ETX Capital
11110.54.5/ 5
ETX
IQ Option
111104/ 5
IQ option

 

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.

AlertAccepts Indian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & ETX Trader Pro platforms supported. ETX Capital Group is regulated by the FCA.
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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
FCA Regulated Brokers
FSCA Regulated Forex Brokers
CySEC Regulated Brokers
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
Bonds
62
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
0.60 pips
MT4
TraderPro
ETX
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Unionpay
Fees Included in Spread
1110.503.13/ 5
USD 10
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
ETFs
25
12
  • Low minimum deposit
  • Wide range of assets
  • Unpublished spreads
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
1110.503.5/ 5
111003/ 5
111104/ 5
100001/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
85% of retail investor accounts lose money when trading CFDs with this provider
1000:1
5 pips
Live Account
IQ option
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Bitcoin
Fees Included in Spread
Visit Broker

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