ETXCAPITAL

ETX Capital will have traders intrigued by the website’s flow and feel. Its distinct nature, not to mention user friendly interface, will introduce newer clients with ease to the trade game. However, does ETX Capital have what it takes to retain all customers, both rookie and pro?

Monecor (London) Limited is the holding company. Traders will be happy to know that the Financial Conduct Authority (FCA) authorizes and regulates ETX Capital with the utmost attention to detail. The FCA’s main task is to enforce the laws that concern the financial market in the UK. The clients have the right to a compensation of up to £85 000 if the broker is unable to pay its debts.

The tight spreads on ETX Capital shrink the distance between profit and loss with EUR/USD spreads of 0.7 pips. On the ETX Capital website there is false information that claims their leverage to be from 100:1 on most tradable assets of up to 200:1 on MT4 products. They probably forgot to update it, but this still doesn’t rule out the fact that more unaware traders will latch on to this inaccurate claim:

Currently, ESMA restricts all EU and UK leverage to a maximum value of 1:30.

The numerous assets that can be traded with at ETX Capital are as follows: currency pairs, indices, metals, energy sources, soft commodities, crypto currencies and bonds and/or interests.

The broker services are covered in a range of languages including: English, Spanish, German, Polish, Czech and Chinese.

ETX CAPITAL LOGIN

Although the broker offers only two trading platforms, ETX TraderPro and ETX MetaTrader 4, be assured that the capabilities of these two platforms are utilized to their maximum capacity.

TRADER PRO

Trader Pro does not waste time in immersing you into the world of Forex exchange. It has easily accessible charts, a zoom-in zoom-out feature that proves very hand in certain situations, not to mention an intricate tab system that makes everything 100% easier to access and a drag and drop system that allows for multiple tabs and graphs to be viewed at the same time. The average spread for EURUSD is a fluctuating 0.6-0.8 pips.

As commissioned by ESMA, all UK and EU leverages are limited to 1:30.

TRADER PRO is available to all Windows, iPhone, iPad and Android users so that trades can be done on the go.

METATRADER 4

As one of the leading platforms in the world, even surpassing its successor at times, MetaTrader4 offers its full services to the traders who have chosen ETX Capital as their broker. MetaTrader’s design and interface is by now well known. The platform is abundant in trading options and possibilities, and attractive to users both rookie and pro. The platform also allows for VPS’s hosted by ETX Capital.
The point of the VPS is to let the auto trading bots trade, without worrying that his job will not be interrupted by a power failure or net crash.

Micro-lots are also back, allowing for newer players to trade with less amounts of money. And how can we forget expert advisors that allow for automated trading.

The spread for EURUSD averages the 0.6 pip mark, while levergaes are limited to 1:30 because of the ESMA ruling.

Alongside this goes the fact that the platform is available for both browser and desktop, and on mobile devices to be directly downloaded from the App Store or Play Store. Use the browser version if you wish to avoid downloading a software and/or are not interested in auto trades, however, this version does not allow expert advisors.

ETX CAPITAL MINIMUM DEPOSIT

The minimum deposit for a trader is 100 in all available currencies.

When trading with this broker users will be able to deposit their money using the following methods: Wire/Bank transfer, Online Bank Transfer, Major Credit Cards except for AMEX, China Union Pay, Skrill, Neteller, Sofort and GiroPay.

The platform offers a large array of currencies in which your account is kept. They are as follows: GBP, USD, EUR, ZAR, SGD, SEK, RON, PLN, NOK, JPY, HRK, HKD, DKK, CZK, CHF, CAD, AUD. However, not all payment methods support the entire assortment of currencies.

ETX Capital generally takes up to one day to process all payments.

All methods of depositing are charge-free.

ETXCAPITAL WITHDRAWAL TIME AND FEES

Withdrawals can be done in the following ways: Wire/Bank transfer, Online Bank Transfer, Major Credit Cards except for AMEX, China Union Pay, Skrill, Neteller, Sofort and GiroPay.

The general processing time for all monetary transactions is 1 day; that is the time for the broker to process your request and send it over to your method of choice. From then, it takes up to 2-3 working days for traders to get their full payments from their respective payment systems via Wire/Bank Transfer, Online Bank Transfer and Sofort. All other payment methods can take up to 3-5 working days.

ETX Capital offers 5 free monthly withdrawals for any amount over $100. On the 6th and thereafter, users will be charged $10 until the end of the month, at which point the process resets. Withdrawals below $100 are commissioned with $10.
Note that ETX Capital features an inactivity monthly charge of $25 for all dormant accounts. An account become dormant after 365 days or more.

The website is not clear on the minimum withdrawal amount, and since there is no live chat, we are left to assume that the minimum withdrawal (when considering the fees) is $20, or any other currency.

BOTTOM LINE

Although featuring only two trading platforms, ETX Capital is still a reliable and easy to use broker website with a nice choice of deposit and withdrawal methods. The fact

There are several severe drawbacks, however. The withdrawal fees are somewhat unusual, and the lack of a live chat support will surely lead many people to a state of confusion and, probably, irritation.