ETX Capital Broker Review

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ETX Capital Review

Despite a long-tenured history in the forex markets and outstanding customer service, ETX Capital struggles to keep up with industry leaders when it comes to trading platforms, tools, and research.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on ETX Capital:

  • Founded in 1965, ETX Capital is regulated in one tier-1 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
  • ETX Capital offers outstanding customer service. In 2020, the broker finished 2nd (out of 22) in our national testing from locations across the United Kingdom.
  • To access the tightest spreads and largest range of tradeable symbols (over 6000), traders should use ETX Capital’s Trader Pro platform (don’t bother with MT4). Unfortunately, Trader Pro lacks depth in both trading tools and market research when compared to industry leaders such as IG and CMC Markets.

Overall Summary

Feature ETX Capital
Overall 4 Stars
Trust Score 82
Offering of Investments 4 Stars
Commissions & Fees 4 Stars
Platform & Tools 3.5 Stars
Research 3 Stars
Mobile Trading 3.5 Stars
Customer Service 4.5 Stars
Education 3.5 Stars

Is ETX Capital Safe?

ETX Capital is considered average-risk, with an overall Trust Score of 82 out of 99. ETX Capital is not publicly traded and does not operate a bank. ETX Capital is authorised by one tier-1 regulator (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). ETX Capital is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA). Learn more about Trust Score.

Feature ETX Capital
Year Founded 1965
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 1
Tier-2 Licenses 0
Tier-3 Licenses 0
Trust Score 82

Offering of Investments

It is worth noting that there are nearly 6000 markets to trade Trader Pro – including single stock CFDs, compared to ETX Capital’s MT4 offering, which offers less than 200.

While traders may encounter limits on the maximum trade size per order in MT4, ETX Capital’s trade desk can execute larger orders on the phone at no added cost, and the max permissible order size is shown for each instrument within the platform.

Offering Comparison

Feature ETX Capital
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 60
CFDs – Total Offered 6000
Social Trading / Copy-Trading No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

ETX capital offers commission-free pricing on all platforms when it comes to its forex pairs. Therefore, the bid/ask spread represents the cost of trading, and will vary depending on the trading platform used. Comparing spreads on the Trader Pro platform versus MetaTrader, pricing is better on Trader Pro.

Spreads comparisons: On the MT4 platform, spreads averaged 1.01 pips on the EUR/USD currency pair using May 2020 data published by ETX Capital. Meanwhile, during the same period, average spreads on the Trader Pro platform were tighter at 0.81 pips for the same pair.

Included exchange data: When trading single-stock CFDs across global exchanges, many multi-asset brokers pass along exchange data costs by charging traders a nominal amount per month (depending on the venue). While data fee charges are sometimes rebated back to traders if minimum trading volumes are met, ETX Capital offers this data for free. The data encompasses over 20 exchanges, leaving just the commission per trade and any applicable spread when it comes to trading CFDs.

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Fees Comparison

Feature ETX Capital
Minimum Initial Deposit $£100
Average Spread EUR/USD – Standard 0.81 (as of May 18)
All-in Cost EUR/USD – Active 0.81 (as of May 18)
Active Trader or VIP Discounts No

Platforms & Tools

ETX Capital offers its own proprietary Trader Pro platform as well as MetaTrader 4 (MT4). Overall, ETX Capital’s MT4 offering doesn’t compete with the Best MetaTrader Brokers. Furthermore, while the Trader Pro platform has several highlights, our testing left us wanting more.

Trader Pro advanced orders: With Trader Pro, traders can add a trailing-stop, GTC orders, as well as attach stop and limit orders to an OCO order. For an extra premium, traders can also add a Guaranteed Stop-Loss Order (GSLO), which can be helpful in volatile markets.

Trader Pro charting: In the charting section, there are nearly 60 indicators and 14 drawing tools, alongside a good range of popular chart types and time frames. All in all, these features are on par with industry standards. Charting package highlights include seamless zooming, real-time visual profit-loss tracking for open positions, and the ability to save charts views with any drawn trend-lines.

Phone orders only: Certain products on the platform show a phone icon and have the buy/sell button disabled. Unfortunately, these symbols can only be traded via phone using ETX Capital’s trading desk.

Research

When it comes to forex research, ETX Capital fails to deliver quality content in its platforms, and its overall range of research is below the industry standard. Traders seeking a research-rich trading experience should consider Saxo Bank or IG.

Mobile Trading

ETX Capital offers two mobile trading apps: Trader Pro and the default MetaTrader 4 (MT4) app. MT4 aside, the Trader Pro mobile app lacks research and news; otherwise, it offers a good foundation for trading.

Like the web-based version of Trader Pro, Trader Pro mobile offers advanced order types and the ability to save chart views (rare in the industry); watch lists also sync between the two platforms. Pros aside, like the web platform, a severe gap in forex news and research features is also present. Boosting research will go a long way toward improving an already impressive app.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: nd (22 brokers)

Final Thoughts

Traders choose ETX Capital for its reputation built up over 50 years through its FCA-regulated offering. One of ETX Capital’s unique value-propositions is its voice-broking execution, through which traders can execute orders with dealers over the phone at no extra cost. Also, the broker finished Best in Class in the Customer Service category in 2020.

ETX Capital’s proprietary trading platform offers a fluid HTML5 interface, which makes it easy for traders to trade across nearly 6,000 tradeable products. That said, a lack of research capabilities remains a significant drawback.

About ETX Capital

Founded in 1965, Monecor London Limited (ETX Capital) obtained authorization from the Financial Conduct Authority (FCA) in 1995 and has been operating in the United Kingdom (UK) for more than five decades. The broker is also a member (not an actual publicly-traded company) of the London Stock Exchange (LSE).

Today, ETX Capital offers forex and CFD traders access to global electronic and voice-traded markets, with nearly 6,000 CFDs on 23 global stock exchanges, 60 forex pairs, and seven cryptocurrency pairs. Read more on Wikipedia about ETX Capital.

ETX Capital Trading Features

Feature ETX Capital
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform No
Social Trading / Copy-Trading No
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

ETX Capital Research Features

Feature ETX Capital
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs No
Economic Calendar Yes

Mobile App Features

Feature ETX Capital
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave Yes
Forex Calendar No

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

ETX Capital Review 2020

Summary

Recommended for forex and CFD traders looking for great funding and withdrawal options and an easy-to-use platform

ETX Capital is a global CFD and FX broker. Its parent company, Monecor (London) Ltd was established in 1965 and is regulated by the Financial Conduct Authority (FCA) making it safe to invest your money with.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading 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.

ETX Capital pros and cons

ETX Capital offers a lot of deposit and withdrawals options and they are free of charge. It has also a user-friendly and fast account opening. There are a lot of educational tools with great quality.

ETX Capital has high trading fees. The product portfolio is limited as it offers only CFDs, forex, and crypto. You can use only charting as a research tool. There are no trading ideas, fundamental data, or news either.

Pros Cons
• Free and multiple deposit and withdrawal options • High trading fees
• Easy and fast account opening • Only CFDs, forex, and crypto offered
• Great educational tools • Basic research tools
ETX Capital main features and highlights
��️ Country of regulation UK
�� Trading fees class Average
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $100
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 3
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

ETX Capital review
Fees

ETX Capital has high trading fees and financing rates. The non-trading fees are average. On the plus side, there are no withdrawal fees.

Pros Cons
• No withdrawal fee • High forex fees
• High financing rate
ETX Capital fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.5 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 2 is the average spread cost.
EURUSD High The fees at TraderPro account are built into spread, 0.7 pips is the average spread cost
Inactivity fee Low $25 per month after at least 6 months of inactivity

How we ranked fees

We ranked ETX Capital’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates, and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of ETX Capital for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared ETX Capital’s fees with those of two similar brokers we selected, XTB and XM. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of ETX Capital alternatives.

To have a clear overview of ETX Capital, let’s start with the trading fees.

ETX Capital trading fees

ETX Capital trading fees are average.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF, and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for ETX Capital fees.

CFD fees

ETX Capital has generally average to high CFD trading fees.

ETX Capital CFD fees for a $2,000 long position held for one week

ETX Capital XTB XM
S&P 500 CFD benchmark fee $2.2 $2.0 $2.4
Europe 50 CFD benchmark fee $2.1 $2.2 $2.4
Apple CFD benchmark fee $32.0 $17.9 $3.4
Vodafone CFD benchmark fee $25.9 $20.9 $5.6

As we can see above, index CFD’s are about average with their competition. When it comes to individual stock CFD’s though, we can see that they are quite a bit higher than the same competitors with XM being much cheaper.

Forex fees

ETX Capital forex fees are high.

ETX Capital forex benchmark fees of a $20,000 30:1 long position held for one week

ETX Capital XTB XM
EURUSD benchmark fee $19.5 $15.0 $17.1
GBPUSD benchmark fee $16.1 $11.1 $13.8
AUDUSD benchmark fee $16.6 $10.0 $13.9
EURCHF benchmark fee $9.4 $6.6 $9.1
EURGBP benchmark fee $14.2 $9.9 $12.2

In every benchmark measured, we found that ETX Capital’s forex fees were higher than XTB’s and XM’s. This is unfortunate because these three stock brokerages all have the same target market making ETX Capitals rates relatively unattractive to potential clients.

Non-trading fees

ETX Capital has average non-trading fees.

It does not charge an account fee or withdrawal fee up to 5 withdrawals per month. If you withdraw more than 5 times, you will be charged a $10 fee per additional transaction.

Unfortunately, they do charge an inactivity fee of $25 per month after at least 6 months of inactivity. It’s important to note that these types of charges are hard to find on their official website making their commission structure not completely transparent.

Beginner’s Guide to ETX Capital: Complete Review

ETX Capital is a well established and FCA regulated broker with over 50 years in business. The broker has a vast range of markets, industry-leading trading platform, and competitive spreads. They strive to deliver a versatile trading experience for clients and offers a range of educational resources.

ETX Capital provides its customers with access to highly competitive prices for over 6,000 different markets as well as support from its award-winning customer service teams. ETX Capital is based in London but has customer support in many countries.

Monecor (London) Limited is the company behind ETX Capital, which is a trading name of the former. Monecor (London) Limited has company number 00851820. The Financial Conduct Authority (FCA) authorizes and regulates it under the Financial Services Register number 124721. Monecor (London) Limited was established in 1965 and is also on the London Stock Exchange.

Please Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% 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.

ETX Capital at a Glance

Broker ETX Capital
Regulation FCA (United Kingdom)
Minium Initial Deposit
£100
Demo Account
Yes
Asset Coverage CFDs, ETFs, Forex, Cryptocurrency, Shares, Bonds Commodities, Indices
Leverage 30:1 Retail Clients 200:1 Professional Clients
Trading Platforms Proprietary Web, Windows Desktop, Mobile Apps, Meta Trader 4

ETX Capital Trading Instruments

When trading with ETX Capital, clients get access to thousands of markets which are tradeable. There is the choice of over 50 forex pairs in addition to Cryptocurrencies, commodities, equities, and financial indices. Commodities offered by ETX Capital include five metals, five energy, and nine soft commodities. In terms of equities, you can trade CFD stocks from the U.S., Australia, Singapore, South Africa, or 18 European countries.

Spreads & Leverage

ETX Capital prides itself on offering tight spreads with plenty of leverage. For forex, the spreads from ETX Capital start at just 0.6 pips for EUR/USD, a highly competitive rate. For equities, some stocks have indicative spreads of 0.08. Commodities have minimum spreads starting at 3 pips, and certain major indices have minimum spreads that start at 1 pip.

Many of the products from ETX Capital offer leverage rates of 100:1. Some of the MT4 products even offer leverage of up to 200:1 for professional clients and 30:1 for retail clients.

Accounts Types

Instead of offering separate types of accounts, ETX Capital offers two types of platforms to suit varying trading styles. These are its flagship ETX TraderPro and the ever-popular ETX MT4. Once you open your account with one of these platforms, it is still possible to trade on the other platform. To do so, just email the service desk. They will easily make trading on the other platform available to you since you have already gone through the security process during registration.

It is also possible to hold more than one account with ETX Capital, including one for each of the trading platforms. At any point, it is possible to hold five live accounts with ETX Capital. The broker can work with you if you need to hold more than five live accounts, but this requires a review by its compliance time. To create another account once you have already registered for one, just log into your account and go to the Profile section.

Demo Accounts

ETX Capital also offers demo accounts for each platform. To take advantage of this feature, go to the “Platforms” tab on the website. Then, choose the “Demo” option and follow the prompts. This will let you hone your skills and get used to the ETX Capital platforms without risking real money.

ETX Capital Deposits and Withdrawals

To add funds to your MetaTrader 4 account with ETX Capital, log in and click “Adds Funds.” This will take you through the process. To withdraw funds, log in, visit “Your Account” then click on “Withdraw Funds.” Fill in the required fields, which will include the amount. In some cases, you may need to give more documentation before withdrawals to prevent financial crime. It is also possible to transfer funds between your ETX Capital accounts. To do so, you will need to send an email to customer service that includes the account numbers for the transfer, the amount, your address, and your date of birth.

There is a minimum deposit of £100 or its equivalent in a different currency. You can make a deposit via a wire or bank transfer in GBP, USD, EUR, SGD, ZAR, SEK, RON, NOK, PLN, JPY, HRK, HKD, CZK, DKK, AUD, CAD, or CHF. This will take one working day for deposits and two to three for withdrawals. The same currencies and time periods apply to online bank transfers. You can also make a deposit with a major credit or debit card, other than AMEX. These have a general processing time of one working day and withdrawal arrival time of three to five working days. You can make the deposit with credit/debit cards in GBP, USD, EUR, CHF, CZK, DKK, ZAR, PLN, or NOK.

Those interested in e-wallets will find many options, as well, including China UnionPay, Skrill, Neteller, Sofort, and GiroPay. For each of these methods, there is a general processing time of one business day and a withdrawal arrival time of three to five business days. Sofort and GiroPay only allow deposits in EUR. Neteller and Skrill allow GBP, EUR, or USD. China UnionPay allows GBP, EUR, RMB, or USD.

For payment security, ETX Capital uses the 3-D Secure protocol, which is internationally accepted and adds a layer of security for debit and credit card transactions online. This is done by using XML messages that are sent over an SSL connection with the client authentication. This protocol is automatic, and you will notice that it typically requires you to add a code your bank provides via text or a password.

What Else Should You Know about Deposits and Withdrawals?

Keep in mind that you can only deposit funds into your ETX Capital account from a credit or debit card or bank account that is in your name; the broker does not allow for third-party funding. It is also worth noting that if you deposit funds into your ETX Capital account in a different currency, the broker will convert them using the spot rate from trading close on the previous day. This will increase the length of time it takes for the deposit to be credited.

Withdrawals always go back to the original source of the funds. If this is not possible, ETX Capital will need to first confirm that this is the case. From there, the Customer Service team will let you know the documents that you need to send. It is usually possible to withdraw back to a credit/debit card that has since expired, but if the issuer of your card refuses this payment, the above process will apply. If the funding bank account has been closed, or your credit/debit card was stolen, ETX Capital will need a letter from you detailing this as well as a bank statement for the preferred withdrawal method. You can cancel a withdrawal from your ETX Capital account via the specific withdrawal email address or by phone.

There are no withdrawal fees for the first five withdrawals each calendar month from ETX Capital, provided the withdrawals are at least $100. For withdrawals past this point, there is a fee of $10 per withdrawal. That same $10 fee applies to withdrawals below $100. The maximum withdrawal fee is $10, even if both conditions are met.

ETX Capital Fees

It should be noted that ETX Capital does charge an inactivity fee for accounts that are dormant. These are charged in per month and there are specific fees depending on the currency in question. You can view the fee for your account currency on the Payments page of the ETX Capital website. There are 31 different currencies, making it impractical to list them all. That the time of writing, some of the most common currencies with their inactivity fees include:

The broker also has overnight financing charges. For commodities, indices, and equities, the charge is (total position size x 3.5%)/365. In the case of a weekend roll, this charge only gets applied once although the underlying market spread is larger since you roll the position three days instead of one. For FX, the interest calculation depends on currencies in question. You can view full details of overnight funding and financing fees in the FAQ section of ETX Capital’s website.

ETX Capital Promotions

ETX Capital does offer promotions. These vary at any given moment, so the best way to discover the current promotions is to talk to your Account Relationship Manager. Promotions do expire, and you can check the expiration date of your promotion and how much of it you have earned so far by contacting customer support, either via email or phone.

ETX Capital Trading Platforms

To help clients trade on the go at their convenience, ETX Capital offers mobile trading platforms for Android and iOS devices in addition to the desktop platforms. Overall, there are two main platforms to choose from when trading with ETX Capital on a mobile device or desktop. Each of these is specialized and suits traders of a particular trading style.

ETX TraderPro has tight spreads and customizable trading charts. This makes it a great choice for accomplished traders who want to embrace risk to increase their chances of significant returns. This is the flagship platform from ETX Capital. It includes an assortment of charts and graphs, plus thousands of products to trade.

ETX TraderPro lets you choose from a range of charts and use various drawing tools to come to trading conclusions on your own, making it great for advanced traders. The platform is very direct, letting you open the chart for a product and trade on it right away to save time and reduce the risk of slippage. The platform includes a pip calculator tool and has drag-and-drop capabilities, so you can position trading deal tickets where you want. You can also create watch lists and view detailed information on any product via the platform.

Alternatively, clients of ETX Capital can trade on ETX MT4, the broker’s hosted MT4 platform. This platform makes it possible to bring a downloaded automated expert advisor. In addition, ETX MT4 lets you have multiple charts open at the same time, letting you access all the market info you need simultaneously. MT4 also supports micro lots and hedging. There is also the choice of using Virtual Private Server hosting on MT4, so you can ensure your copy signal providers and Expert Advisors work 24/7.

When you look at the trading boxes, you will notice rates displayed. These are quotes prices for assets. You should keep in mind that ETX Capital’s rates are not always the same as the exact market prices, with some variations of up to several pips. The rates listed, however, are those at which ETX Capital is willing to sell a given option for. On the trading platform, green shows a rise in price while red shows a fall in price for the rates.

How to Trade with ETX Capital

To begin placing a trade, you must log into your account. From there, the steps vary slightly depending on the platform you choose to use.

With ETX TraderPro, begin by choosing the product you want to trade then select “Trade” on the right. This will open a trading ticket that shows the current levels at which you can buy or sell. You can also set the quantity to trade. Adjust the amount then select “sell” in red or “buy” in blue.

With ETX Binary, click the product you wish to trade, which will automatically open the trading ticket. Your choices will depend on the Binary option’s nature. You may see buttons for “Call” and “Put” or options for “Up” and “Down,” along with numbers that change based on the current product price. There will also be a drop-down box that may offer expiration times for your trade. The form will ask you to input the amount you want to trade. As you update the information, the payout calculator will also update, letting you know your potential payout in the case of a successful trade. When you are happy with the form, select “Invest” and your trade will be placed.

With ETX MT4 begin by selecting “New Order” by the top trading bar. This will open a new window. There, click on the “Symbol” drop-down tab. There, you will select the product to trade. Then, enter the amount to trade and potential levels for a stop loss or take profit. From there, you can select the “Sell by Market” button in red or “Buy the Market” in blue.

To place an Order to Open, click on the “Order” tab, which will open a New Order window. Choose the level to buy or sell, adjust the other fields, and select “Place” to confirm the Order to Open. You can modify an Order to Open by opening your order book and clicking “Amend.” This will open a window called “Amend Order.” Make your changes and hit “Amend.” Keep in mind that slippage will sometimes occur, and it will not be possible for a limit or stop order to occur at the specific price you indicated. Stop Loss orders are not guaranteed unless this is agreed upon.

ETX Capital also makes it simple to find a minimum Stop Distance for your chosen market. Click on the market or find it via the search bar. Generate a new deal ticket by clicking “Trade.” Then, click “Advanced” and then “Stop.” Now, you can decrease the Stop level with the arrow keys. When you cannot decrease any more, this is the minimum Stop Distance.

On certain markets, ETX Capital also offers guaranteed stop losses. However, this will incur an added charge. That charge is displayed right on the deal ticket when you make your selection, so there are no hidden fees or surprises.

When Will ETX Capital Close Positions?

Sometimes, you may notice that a previously open position has been closed. This can happen due to a range of reasons, including that you had a Limit or Stop order set on the position, which was reached and executed. It is also possible that your position closed because of a margin call. Another possibility is that you traded on a futures contract that reached its expiration date. To avoid this problem, you can call ETX Capital before the contract expires to roll it over until the following expiration date.

If you notice the figure for your “Trade Funds Available” is negative, you can either close the current position or add funds to your account. If you do not act, the Risk Department may close or partially close your position.

How Do You Know Your Available Trading Funds?

You can determine your available trading funds by taking your liquidation value and subtracting the margin needed for open trades. When this figure is positive, it shows the quantity that you currently have available for trading. If it is negative, that is the amount you must deposit before having enough funds to trade again.

Can You Hedge with ETX Capital?

Sometimes, traders want to order two positions on the same market in opposite directions or hedge. This is allowed on the MT4 platform. On the ETX TraderPro platform, some instruments will offer this ability. If this is the case, you will notice the word “hedge” in brackets right next to the instrument’s name.

Minimum & Maximum Trade Sizes

The minimum deal size depends on the instrument. In most cases, you can trade from just 0.50 pips per point on a micro lot with CFDs or in the spread betting platform. The maximum deal size will also vary based on the platform that you choose to use. Typically, ETX Capital clients can place a deal of any size provided they have enough funds to cover the margin requirements for the trade. If you cannot enter a deal via the website and are unsure why, you can call ETX Capital. Keep in mind that the maximum deal size will sometimes change due to exceptional market conditions.

What Happens If You Do Not Trade in Your Account’s Base Currency?

ETX Capital converts your daily currency trades back into your chosen default currency automatically after midnight from Sunday to Thursday. If this automatic conversion does not occur, let ETX Capital know. In the future, you may need to let it know ahead of time whenever you want your balance converted.

Viewing Your Trade History and Open Trades

In MetaTrader 4, click on the tab for Account History within the Terminal Box. From there, you can right-click on “Account History” and choose the time period you want to view. If you cannot see the Terminal Box, you can open it by pressing CTRL+T.

You can view your overall loss or profit on a position with ease, as well. On ETX TraderPro, start by finding the “Open Positions” tab by the lower half of the screen. There, you should see the current positions, with each also featuring the time and date it was open. The information will also include the quantity sold or bought, the margin reserved, and the product price when opened plus the current price. Next to this information, there is a “P/L” column. Here, you will find the current profit or loss level. The figure is also color-coded, with the amount in white for profits and red for losses. To the right, you will spot buttons that let you view the product chart, engage in further trading on the product, close the trade, or create a new alert.

On ETX MT4, go to the terminal window on the MT4 platform to view open trades. It is typically by the bottom of the screen. If it is not visible, you can add it to your view by selecting the “View” menu by the top. Within the terminal window, select the “Trade” tab. This tab will display the open trades and current account balance. For each trade, you can view the relevant information, including time opened, size, type, symbol, and price. You can also select a particular trade, which will open a window that features options like the ability to close the trade.

ETX Capital Charts

ETX Capital does have several display styles that come with a range of various drawing tools to suit your needs. It is also possible to add various studies, then save your settings. Just click on the Chart icon on a given market. From there, you can select the Charts tab and click on Type to select the display style that you prefer.

Clients can also use the regular charts included. You will notice that ETX Capital keeps chart data for at least a day. The tick data for less than one-minute periods is stored for a day, and periods between one and five minutes are stored for two days. Periods between five and 30 minutes are stored for two weeks, and periods between one and four hours are stored for several months. The data for periods of one day and longer is stored forever. The daily candles on charges are automatically reset at midnight in the time zone of the local market. Daily price changes get applied at midnight in the London time zone. All prices get their basis from the official close of their underlying market.

You can change the style of a chart whenever you want. To do so, open the chart by clicking on the market or using the search bar. Then, select the Chart icon to open a new chart window. From there, you can click “Charts” and “Type” to adjust the style of the chart. It is also possible to open a chart in a new browser window. Just go to the top right corner of the chart window and click “Move to New Window,” which is an icon.

There are also numerous indicators available for ETX Capital charts. To add or remove the indicators, go to the “Studies” tab on your chart. Choose the indicator you want and adjust the settings. Then, click “copy” and close, and the indicator should appear on the chart.

You can customize charts with the tabs on the left and top of the window. If you want to save these customizations for the future, go to the “Settings” tab and select “Save Chart Settings.”

Other Trading Tools & Resources

ETX Capital has an entire section of its website dedicated to market analysis. There, you will find a range of articles focused on analyzing the market. You can browse the most recent ones or use the search function. There is also the ability to sort analysis by author or tags.

Educational Resources

ETX Capital covers a range of educational topics in its FAQ section. There, you will find such information as the purpose of limit orders and explanations of leverage. In addition to the information sprinkled throughout the FAQ section, ETX Capital also offers other education, via seminars, webinars, and an advanced education course. All of those resources are free for account holders. Although not always the case, many of the webinars are recorded, so you can view them on the education page later.

At the time of writing, there are 13 upcoming seminars and webinars listed on the education page of ETX Capital, all of which take place in the same month. That variety helps show that ETX Capital offers very frequent webinars. These are led by either an independent trader company or the expert in-house team from ETX Capital. All webinars indicate the subject, date and time, location (typically online), language (typically English), and whether there is still room available. You can click on a webinar to get even more information, including an in-depth summary of what will be covered. At the bottom of the page, you will find the form to register.

ETX Capital additionally offers a trader course that is run by an independent company and is comprehensive and geared toward clients. The program is completely free for ETX Capital clients, despite comparable programs typically costing well over $1,000. It includes an eight-hour program with monthly follow-ups for discussing trading strategies.

Competitors

ETX Capital is in competition with our similar brokers which have covered before, as follows:

ETX Capital Customer Support

The customer support from ETX Capital is multilingual, and the FAQ section on the company’s website is also available in more than 15 languages. Customer service is available in English, German, Spanish, Mandarin, Polish, and Czech. To contact customer support, visit the “Contact Us” section of the website. There, you will find contact information for both new and existing accounts. Existing accounts will see separate numbers for customer service and the trading desk. Those looking for a new account will find both a free phone number (within the UK) and an international number. This is also where you will find the physical address of ETX Capital and its fax number. The address is One Broadgate, EC2M 2QS, London.

ETX Capital also makes it a point to attend various trade shows worldwide. At these events, staff members will gladly meet clients, business introducers, and affiliates.

ETX Capital Awards

ETX Capital recently took part in the Online Personal Wealth awards 2020 and won “Best Trading Platform for Professionals” and “Best Trading Tools”.

Is ETX Capital Safe?

In addition to its regulation and authorization from the FCA, ETX Capital has many procedures in place to protect customer funds. There are daily security checks to confirm that the broker has sufficient regulatory capital constantly. Additionally, client funds are held separately from the company money, and this is done within investment-grade-rated UK banks.

Conclusion

ETX Capital is an international broker that offers clients access to trading CFDs for a range of assets. ETX Capital prides itself on delivering low spreads and excellent customer service to help the broker stand out from the competition.

ETX Capital’s web trading interface is excellent and very well designed, offering a range of tools and charts to help you make your trades. In addition to its own proprietary platform, this broker lets clients use a version of MetaTrader 4.

With ETX Capital’s long and distinguished history of over 50 years in business, plus the fact they are regulated by the FCA, you should feel absolutely confident choosing this broker.

Please Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% 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.

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