ETX Capital review 2024
ETX Capital review Summary
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ETX Capital is regulated in the UK by the Financial Conduct Authority (FCA), and allows users to trade CFDs in a wide range of assets. This review takes you through everything you need to know about this broker before deciding whether or not to sign up.
ETX Capital is no longer in operation. Use our guide to find the best CFD broker in 2024.
What can I do with ETX Capital?
ETX Capital is a boutique broker on which users can trade thousands of different CFDs. Its award-winning platform support trades in a variety of markets, including stocks, indices, and cryptocurrencies.
Additionally, ETX Capital provides additional services and support for high net-worth individuals and allows users to place trades either using its TraderPro software or MetaTrader 4 platforms. Keep reading this review if you want to discover more about all the features of this broker.
Pros & Cons
Pros:
Cons:
Can I open an account with ETX Capital?
ETX Capital markets, assets, and options
What assets and products can you trade on ETX Capital?
ETX Capital is a one-stop-shop for international traders who are looking for easy access to thousands of assets. The platform offers over 60 Forex pairs with small spreads starting at just 0.6 pips. As well as popular commodities (e.g. oil, gold, coffee), indices, and thousands of commission-free stocks.
Here’s a quick summary of the CFDs offered by ETX Capital.
| Product | Offering |
|---|---|
| Forex | 60 pairs |
| Cryptocurrencies | 4 |
| Stocks | 5,000 |
| Indices | 20 |
| Commodities | 26 |
What leverage trading options are there?
ETX Capital allows leveraged trading on most of its assets, including stocks and cryptocurrencies. The table below gives the full details of the leverage available on the platform. Trading with leverage comes with hugely increased risk, and is only recommended for experienced investors.
| Product (CFDs) | Maximum leverage | Margin |
|---|---|---|
| Forex | 1:30 | 3.33% |
| Cryptocurrencies | 1:30 | 3.33% |
| Stocks | 1:200 | 0.5% |
| Indices | 1:200 | 0.5% |
| Commodities | 1:100 | 1% |
What are the spreads?
When compared to other similar online trading platforms, ETX Capital offers attractive spreads, especially for its FX majors, cryptos, and most-traded stocks. For the AUD/USD major pair, the average spread is 1.21 pips, while the EUR/USD pair trades at around 0.81 pips.
Spreads for cryptocurrencies, commodities, and other stocks are variable and depend on the size of the order you place, as well as the popularity of the asset you are trading. For instance, gold and silver usually trade for an average spread of 0.2 pips. The following table gives a summary of ETX Capital’s spreads.
| Product | Average spread | Fixed or variable? |
|---|---|---|
| Forex | 1.21 pips | Variable |
| Cryptocurrencies | Variable | Variable |
| Stocks | Variable | Variable |
| Indices | 6 pips | Variable |
| Commodities | 0.4 pips | Variable |
Fees, limits, and payment options on ETX Capital
What are the deposit and withdrawal fees, limits, and speeds?
ETX Capital accepts online bank transfers in different currencies (including GBP, USD, EUR, CAD, AUD, JPY, DKK), major credit and debit cards, Skrill, and UnionPay. Deposits must be made from an account/card registered in your name as the platform does not accept any third-party payments.
Each customer is entitled to 5 free withdrawals per calendar month for transactions over £100. Those who withdraw money more than 5 times a month will be charged a processing fee of £10 per transaction.
| Payment method | Deposit | Withdraw |
|---|---|---|
| Bank transfer – min/max – fees – speed | Yes £100/None Free Within 2 hours | Yes £100/None £10 fee for under £100 24 hours or up to 7 business days |
| Credit card – min/max – fees – speed | Yes £100/None Free Instant | Yes £100/None Free Up to 7 business days |
| Skrill, Neteller & Union Pay – min/max – fees – speed | Yes £100/None Free Instant | Yes £100/None Variable Up to 24 hours |
How much are ETX Capital’s fees and commissions?
ETX Capital does not charge any trading fees, as fixed fees are built into the spreads. This means that the platform makes its money through the difference between the prices at which it will buy and sell assets. Here is a complete breakdown of the fees and commissions on ETX Capital by market type:
| Fee type | Fee amount | Commission |
|---|---|---|
| Forex | None | 1.21 pips |
| Cryptocurrencies | None | Variable |
| Stocks | None | Variable |
| Indices | None | 6 pips |
| Commodities | None | 0.4 pips |
ETX Capital trade sizes and limits
Trade sizes and limits vary depending on the asset you wish to trade. For instance, major FX pairs start at 0.1 lot, with an average spread of 1.21 pips. Here’s a breakdown of the trade sizes and limits.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Forex | 0.1 lot | None |
| Cryptocurrency | Variable | None |
| Stocks | 0.1 share | None |
| Indices | 0.01 lot | None |
| Commodities | 0.01 lot | None |
ETX Capital trading platform
What devices can I use ETX Capital on?
You can access ETX Capital’s trading platforms via either desktop, laptop or mobile.
- Desktop
- Web browser
- Tablet
- iOS Mobile Device
- Android Mobile Device
Can I use ETX Capital in my country?
ETX Capital is open for business around the world with a few exceptions. For example, current residents of the United States, Canada, Singapore, and Switzerland cannot open a live trading account with ETX Capital.
Is ETX Capital available in my language?
ETX Capital is available in seven languages and five dialects: English (International, South Africa, Ireland, UK, and Cyprus), German, Czech, Italian, Spanish, Danish, and Slovakian.
How easy is it to use ETX Capital?
On first impression, ETX Capital’s website has a clean, intuitive interface and is relatively easy to navigate. ETX’s TraderPro platform can take a bit of getting used to, but the mobile apps are simple to understand and generally hassle-free.
Overall, ETX Capital can be accessed by first-time traders with relative ease, while more experienced traders will appreciate its high net-worth service desk. The latter of which includes fast and efficient global equity order execution and ultra-competitive margin rates.
Key features
ETX Capital strives to provide a tailor-made service. These are our three favourite features of the broker.
Dynamic Risk Management
ETX’s TraderPro provides easy-to-use trade tickets that make it simple to set both stops and limits, enabling you to calculate your risk prior to every trade execution.
ETX MetaTrader 4 Remastered
ETX has created a brand new app for the MetaTrader 4 platform, designed with the serious trader in mind. It is essentially a mini trading terminal with powerful tools, including watch-lists for your favourite ticker symbols, custom order templates, and more.
High Net Worth Service Desk
This encompasses its personalised and tailor-made service, which includes Direct 24-hour access to the trading desk, multi-asset trading via phone, chat or emails, and provision of market information.
Security and regulation
Is ETX Capital safe?
ETX Capital has robust safety measures in place. The broker strictly abides by the European standard GDPR rules and won’t disclose personal information about you or your account to any unauthorised third party, and the website has encryption to keep your data secure.
Am I and my funds protected?
In the unlikely event of ETX becoming insolvent, segregated client funds cannot be used for reimbursement to ETX Capital’s creditors. If the company goes into liquidation, most clients are eligible for compensation under the UK’s Financial Services Compensation Scheme (FSCS) for up to £85,000.
Is ETX Capital regulated?
Yes. Monecor (London) Ltd. which is the parent company of ETX Capital, is a member firm of the London Stock Exchange (LSE). It is also authorised and regulated by the UK Financial Conduct Authority (FCA) under Financial Services registrar number 124721 and the South African Financial Sector Conduct Authority (FSCA) under license number 50246.
Do I have to verify my account with ETX Capital?
Yes, in order to open a live account with ETX Capital you will need to provide personal information such as your real name, billing address, and country of residence in order to comply with Know Your Customer (KYC) protocols and European anti-money laundering legislation.
Extra information
Educational resources
ETX Capital provides a comprehensive “Education” section on the main website, where you can find eBooks, informative articles on various trading concepts, webinars, platform guides, and the ETX Trading Academy. This part of the website is delivered by Corellian, a partner of ETX Capital.
Tools and charting
ETX Capital allows you to choose between two trading platforms – TraderPro and MetaTrader 4. TraderPro offers advanced tools, including multiple chart types, split charting tools, technical indicators, and even drawing tools to make the most of your trades. You can also select from 8 layouts, such as Heikin Ashi or Classic Candlestick.
Whereas the MT4 platform emphasises speed and trade execution (on average 94% of ETX trades on MT4 are executed in 30 milliseconds or less) over advanced features.
Customer support
Unfortunately, ETX Capital doesn’t provide live customer support so whatever inquiries you might have, you need to address them via either Facebook Messenger or email. ETX customer support can also be contacted directly via telephone or by opening up a ticket for live chat on their website.
Our verdict
With ETX Capital you benefit from personalised service from a boutique broker, expert support, and award-winning technology. In addition to such features, you can access over 5,000 assets, including FX, cryptocurrencies, stocks, indices, and commodities via two high-performance trading platforms in TraderPro and MetaTrader 4.
Unlike many stock brokers today, ETX has a long history of serving traders. It was originally founded all the way back in 1965 and has built up its offering to include competitive margin rates, a global equity order execution service, and some of the most efficient trade execution around.
Overall, ETX offers an abundance of features that equate to a good trading experience. From decent spreads and fast trade execution to educational material and market analysis. If you’re looking to trade CFDs, then this is one of the best platforms around.
How to open an account with ETX Capital
Opening a live account is quite easy and won’t take more than a few minutes.
- Go to the main page and click on “Create account”
- Choose your country of residence and preferred trading platform
- Input the necessary personal information, such as your full name, email address, and select a password
- Confirm your email address and add your financial information, including a deposit method in order to begin trading
Who owns ETX Capital?
How does ETX Capital make money?
Do I have to pay tax on ETX Capital profits?
Does ETX Capital offer CFD trading?
How do I sell on ETX Capital?
How do I delete my ETX Capital account?
How can I short on ETX Capital?
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Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >
