It is crucial to read the broker review before trading with the broker. You can find the ETX Capital review in detail below. ETX Capital is regarded to be of ordinary risk with a good trust score (88/99). ETX Capital isn’t publicly traded, and it doesn’t run a bank. One tier-1 Authority (FCA) regulates ETX Capital.
It’s important to mention that Trader Pro provides approximately 6000 markets for trading, with single stock CFDs, as opposed to less than 200 on ETX Capital’s MetaTrader 4 platform.
Whilst the maximum transaction amount for each order via MetaTrader 4 may be limited, the broker’s trade desk can process bigger orders over the phone with no additional cost, and the maximum allowed order size is displayed for every asset inside the platform.
Crypto: CFDs allow users to trade cryptos, but they can’t trade the underlying asset directly (meaning purchasing Bitcoin). Remember that crypto CFDs aren’t offered to retail traders or United Kingdom residents of any broker’s United Kingdom business.
- Forex Trading
- CFD Trading
- 6000 Tradeable Symbols in total
- 79 Forex Pairs in total
- Cryptocurrency (CFD)
Costs & Fees
Regarding forex pairings, the broker provides commission-free prices across all platforms. The bid-ask spread, which varies based on the platform, indicates the cost of a trade. When evaluating the spreads on the Trader Pro platform to those on MT, the first one offers better prices.
Comparing the spreads: On the MetaTrader 4 platform, spreads on the EUR USD currency pairing were 1.01 pips (May 2018). Furthermore, typical spreads on the Trader Pro platform for that very same pair averaged 0.81 pips tighter during the same timeframe.
Whenever traders are trading single-stock CFDs over worldwide exchanges, most multi-asset brokerage firms charge exchange data expenses to users by imposing a monthly fee (based on the venue). Though data fees are occasionally reimbursed to investors if required trading sizes are fulfilled, ETX Capital provides this information out of charge. Regarding CFDs trading, the data covers more than 20 exchanges, leaving only the commission for each trade and also any corresponding spread.
Platforms & Features
The broker provides both its own Trader Pro platform and MT4 to its clients (MetaTrader 4). Essentially, the broker’s MT4 offer falls short of the Top MT Brokers.
Advanced order execution: Investors can use Trader Pro to set a trailing stop, Good ‘Til Canceled (GTC) orders, and add stop and limit orders to a One-Cancels-the-Other (OCO) order. Users can place a GSLO (Guaranteed Stop-Loss Order) for an additional fee, which can be beneficial during price swings.
TraderPro charts: Approximately 60 indicators & 14 drawing instruments are available in the charts section, as well as a wide variety of common chart kinds and durations. Overall, these characteristics are in line with industry norms. Effortless zoom, real-time visual earnings monitoring for open trades, and the option to preserve charts views along with every drawn trend-lines are all features of the charts kit.
Exclusively phone orders: Some items on the site have a telephone icon next to them and the buy/sell option is unavailable. Sadly, users can only trade these products over the phone through the broker’s trading desk.
- Virtual Trading (Demo)
- Proprietary Platform
- Desktop Platform (Windows)
- Web Platform
- MetaTrader 4 (MT4)
- 51 Charting – Indicators / Studies in total
- 31 Charting – Drawing Tools in total
- Charting – Trade From Chart
- 7 Watchlists – Total Fields
- Order Type – Market
ETX Capital Review – Research Features
Regarding FX research, the broker’s platforms fail to produce high-quality material, and their entire research variety falls short of industry standards. Traders interested in a research-driven trading environment can look at Saxo Bank as well as IG.
- Daily Market Commentary
- Forex News (Top-Tier Sources)
- Economic Calendar
ETX Capital Review – Mobile
Trader Pro and also the standard MT4 (MetaTrader4) app are the 2 different trading apps offered by the broker. Apart from MetaTrader 4, the Trader Pro mobile application lacks research & market updates; nonetheless, it provides a solid trading platform.
Trader Pro mobile, as with the web-based variant, features complex order types and the option to save chart views (which is uncommon in the market); watchlists additionally synchronize between the platforms. Apart from the advantages of the web platform, there is a significant gap in FX updates & research functions. Strengthening its research features can help the app to be even better.
- Android App
- Apple iOS App
- Alerts – Basic Fields
- Watch List
- Watch List Syncing
- 30 Charting – Indicators / Studies
- Charting – Draw Trendlines
- Charting – Trendlines Moveable Yes
- Charting – Multiple Time Frames
- Charting – Drawings Autosave
ETX Capital Review – Client Support
ForexBrokers.com collaborated with Customerwise, an user satisfaction research firm, to perform telephone tests across the United Kingdom in order to score Customer Service. More than 320 client service experiments were run over the course of 1 and a half months for the 2020 Review.
- Connection time is under 1 minute.
- 8.5/10 (General Net Promoter Score)
- 9.5 / 10 (Professionalism)
- Overall 9/10
ETX Capital Review – Verdict
Traders pick ETX Capital because of its FCA-regulated product, which has a 50-year track record. Over-the-phone execution is among ETX Capital’s strong value offerings, allowing traders to implement trades via dealers over the phone at zero additional cost.
The broker’s own trading platform features a fluid HTML5 layout that allows users to trade approximately 6,000 different assets with ease. However, the absence of research features is still a considerable disadvantage.