ETX Capital review ++ How good is the broker?

Its corporate owner, Monecor Ltd, is also a member of the London Stock Exchange , and ETX Capital has a spotless regulatory track record. Split charting tools are excellent for advanced trading requirements and multi-chart trading strategies. Traders must choose between the MT4 and ETX TraderPro platforms. It is either a trader who opens a Spread bet position or selects to make transactions on CFDs.

As excellent researchers, we have spent several months studying several CFD platforms. When we made test research on ETX Capital, the following was what we discovered about the platform. The asset classes that ETX Capital allows clients to trade are summarized below. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

After acquiring Oval Money, the new trading name is now OvalX. To withdraw money from OvalX, log in to your dashboard, on the top menu, click on ‘Payments’, then select ‘Withdraw Funds’ and follow the on-screen instructions to complete the withdrawal. After you submit your insurance number, you will be redirected to the OvalX or MT4 platform dashboard, depending on the platform you chose earlier and required to activate your account.

It also has a user-friendly and fast account opening process, as well as a lot of high-quality educational tools. Compare selected brokers by their fees, minimum deposit, withdrawal, account opening native app kostenlos erstellen and other areas. Filter according to broker or product type, including stocks, futures, CFDs or crypto. Practice accounts provide a great opportunity to create trust and establish strategies.

How to Register & Verify Your Account

ETX Capital does not charge any account, deposit, or inactivity fees. The first five withdrawals of a month are free, and a charge of 10 USD per withdrawal is charged thereafter. Additionally, traders are charged a withdrawal fee for amounts less than 100 USD. ETX Capital has won multiple awards for its trading tools, trader education, and platform.

We included any information that is unlikely to go out of date anytime soon. A spread is the amount charged for buying and selling a trading instrument. It is made up of the difference between the buy and sell prices of a product often referred to as ‘pip‘. Our ultimate guide to the OvalX minimum deposit is updated regularly.

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Another important cost to consider is the swap rate charged on positions held overnight. These are the interbank market ‘tom-next’ rates plus ETX Capital’s standard fee of 1.35% per annum. Positions held overnight on a Wednesday will be subject to three days of swap charges. Unfortunately, ETX Capital does not publish these fees on its website.

The company’s award-winning technology also gives you access to commodities and shares trading in thousands of assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

You can choose to use the mobile-friendly version of the site in your browser or download the ETX Capital app. With the app, you have access to charts which you can customize to suit how you trade, and you can monitor your positions and trade on the go. ETX Capital garnered its name from the acronym of exactly what they offer – Electronic trading, Telephone trading and eXecution. The company was initially established in 1965 in London, UK, specialising in mortgage bonds. They later introduced stocks and derivatives as TradIndex which later became ETX Capital.

It is noted that you made a total profit of 13,000 EUR on 09 March 2020 on the DAX. However, having looked at each trade, it was discovered that the profit made on the trades was as a result of gaming which is considered improper behaviour under our Terms and Conditions. 90% of the time they will slip your stop loss even when the market is slow they will not honour your stop loss level. In fast markets they will slip you and execute your slipped stop at the worse possible levels. ETX Capital provides in-house trading Analysis and Education. Charles has worked at brokers since he finished his studies at university.

ETX Capital Customer Support

Starting as a Junior Trading assistant and progressing into a Business Development we’re delighted that he’s been part of the team since 2015. Stop, guaranteed stop and trailing stop orders, are all available types of stop-loss orders that you can expect when trading with ETX Capital. The trailing stop order means that while you can protect yourself from losses, you don’t risk losing out on a potential profit. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.

ETX Capital Review 2022: A Scam Broker?

The TraderPro mobile app is available for both iOS and Android devices. The mobile version accurately emulates the desktop version of the platform and integrates seamlessly with the desktop version. The mobile version features advanced charting and most of the features of the desktop version.

The process bar at the top of each step gives a minor indication of progress, but it consists of numerous steps, while most brokers have a one-page sign-up procedure. At the time this review of ETX Capital was conducted, neither bonuses nor promotions were available. ETX Capital offers an in-house research section, which is informative but lacks overall value amid the absence of trading recommendations. Eight chart types allow traders to visualize price action in a manner that suits them best.

An FAQ section answers many of the most common questions, and ETX Capital explains its products and services well on its website. Most traders may only require customer support during emergencies, and ETX Capital ensures swift access when needed. Just as mentioned earlier, the minimum deposit condition on the ETX Capital platform is $250, or it’s equal in your chosen currency. Deposits can be made through bank transfers or wire transfers in different currencies such as USD, GBP, EUR, ZAR, SEK, SGD, PLN, NOK, CZK, HKD, AUD, CHF, CAD, or HRK. Deposits take a minimum of one business day, while withdrawal is about two to three days.

ETX Capital treats traders who opt for its ETX TraderPro with superior conditions and lower costs while placing MT4 traders at a disadvantage. Equity markets open and close each trading day and are not operational continuously like Forex and cryptocurrencies. Algorithmic traders must accept the more expensive MT4 cost structure, but the MT4 cost is unacceptably high. ETX Capital offers identical leverage restrictions across all three subsidiaries, eliminating the potential FSCA advantage. Competitive asset selection with market-leading Forex and cryptocurrency pairs.

Account Fees

It is quite easy to set alerts and notifications on the OvalX mobile platform. For example, if you want to trade a US stock CFD, just click on ‘Equities’ and select the US market. We tested the debit card withdrawal and it took 2 business days. A bank transfer can take several business days, while payment with a credit/debit card is instant. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.

The same requirements apply to opening a free demo account. See the ETX Capital website for up-to-date minimum spreads, trading hours, and lot sizes for these indices. On instruments analisis de graficos forex like forex pairs, you can also trade forwards contracts — these have a future expiry date. At BrokerChooser, we consider clarity and transparency as core values.

You can also trade US stocks pre-market and deal over the phone, if you’ve got big orders or want to work a bid or offer. ETX does have professional traders and does institutional business so has the capability to deal with large order flow. I remember visiting their offices when I was trying to flog them some research and it was buzzing with some fairly large FX trades when I walked through the dealing floor. Multi-lingual customer support is available 24/5 by telephone, email, and live chat.

But they pose a risk too, which is why the OvalX demo account is so important. As well as finding the right broker for your needs, you’ll want to plan trades carefully and continually assess your risk tolerance. Most traders will use the web-based version of ETX TraderPro, also available as a mobile app, ideal for monitoring portfolios on the go and adjusting risk management settings as necessary. With more than 60 indicators, the ETX TraderPro trading platform offers in-depth technical analysis tools complemented by numerous drawing tools. MT4 comes as a desktop version for algorithmic traders, a lightweight web-based version for manual traders, and a mobile app.

That’s not as broad as brokers such as IG or Saxo Markets, but it is perfectly good if you are trading the most liquid and popular assets, which is what most online traders do anyway. When you arrive on this site, you will find it easy to navigate and comprehensive when it comes to opening an account. To familiarise yourself with trading, you have the benefit of being able to open a demo account before you trade with a live version. The educational tools will also help you to enhance your trading skills. There are plenty of market assets to choose from, and the spreads are competitive, making it a good contender in the world of CFD brokers.

ETX also offers an extensive market analysis in the form of market commentary, video commentary and a free global news-wire subscription to International Business Times for registered clients. The layout is modern and fresh and extremely easy to get to grips with. As always the 24 hour trading abilities and help desk are also welcome. Its educational programme is also strong with a healthy range of programmes and an in depth pair of seminars available to its new and existing customers. Obviously, when you trade online, you can also trade on the go with the mobile app. Recently Guru Capital, the new owners of ETX acquired Oval, and is merging the brands to become more of a fintech, than a stand-alone trading business.

Nine trading courses increase the educational value at ETX Capital, where traders also find platform guides, eBooks, and a glossary. While the research value offered ETX Capital remains low, the approach to education ranks among the most valuable ones available to new traders, which I highly recommend to beginner traders. ETX Capital has an analysis category on its website, but it only provides quality market commentary with a theme-based approach. The section makes for an informative read, but the overall value for traders remains minimal. Another plus point is all the four platforms are comptabile with mobile devices.

ETX Capital Options

The CFD Broker prides itself on providing a little spread and quality customer support to help a trader master the trade and excel in it amidst the high competition. The ETX Capital website has a quality interface, provides lots of tools and charts for making trades easy. In addition, ETX Capital allows clients to make use of the version of MT4 for trading.

ETX motivates traders to make a larger initial deposit by offering traders depositing $1000 a free trading course. This broker doesn’t have a live chat support so you need to a complete guide to the futures market contact them via phone or email. They were very friendly and accommodating and the conversation that we had with their support agent over the phone ended up satisfactory.

ETX offers trading on MetaTrader 4 and its own proprietary trading platform, Trader Pro. Winner of numerous awards, the ETX TraderPro software was designed for experienced traders with advanced charting, and numerous drawing and risk-management tools. ETX Capital offers full support for MT4 as well as its own award-winning proprietary platform, TraderPro.