ETX Capital Review
ETX Capital is certainly one of the most exciting Forex brokers in the world, especially due to the fact that the company is listed in the London Stock Exchange. ETX Capital is one of the very few brokers that are publicly listed on a stock exchange. They have recently acquired the redundant Alpari UK broker and has started incorporating all past Alpari clients under a single roof. The acquisition is further proof of the broker’s long-term commitment towards the market, and its ability to withstand years of market fluctuations without inconveniencing their traders in any way.
The broker does not limit their traders to a specific list of assets that they can trade in the financial markets, which is perhaps one of the most interesting aspects of trading with the company. The broker is certainly one of the largest brokers in the industry that has been involved in the financial markets since 2002. There have been countless instances where the broker managed to exceed client expectations, but there have been a few cases where traders were also utterly disappointed with the broker’s attitude towards their customers. In this ETX Capital review, you can learn more about the broker’s essential features and trading environment that will help you to make an informed decision on whether to choose the broker or not.
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Where Is ETX Capital Regulated & Can US Traders Open An Account With The Broker?
ETX is another London-based Forex broker that is regulated by the FCA, which further provides protection from broker insolvency under the Financial Services Compensation Scheme. FCA regulated brokers do perform exceptionally well in the financial markets, owing to the several laws that govern the way a member firm can operate in the markets. Regular auditing and security of client funds are indeed at the top of the ETX Capital’s priority, and the company is even required to offer an excellent trading environment where traders can enjoy an honest and transparent marketplace.
Although ETX Capital has a good amount of reputation in the market, there have been negative feedback as well; this is expected considering the amount of time that they have been in the industry. Every large Forex broker is susceptible to serious trader complaints, mainly due to the sheer number of trading accounts and traders holding significant amounts of funds at the broker. On the whole, ETX Capital does seem to address their customer’s clients in a diligent manner, but most traders should be able to enjoy a hassle-free trading experience.
ETX Capital is similar to most of the brokers operating out of the UK, EU, or other parts of Asia when it comes to accepting clients from the US. Several brokers find it difficult to satisfy the several regulatory requirements of NFA and CFTC, which forces them to abandon the US market entirely. There are only a handful of brokers that entertain traders from the US, but ETX Capital is certainly not one among them.
Selecting An ETX Capital Account For Trading
ETX Capital does not confuse their clients by offering zillions of account types on the pretext of catering to a wide demographic. Instead, they provide a simplified trading account that can be opened with just a $100 initial capital. The single account can be used to trade a wide variety of assets from different financial markets around the world. The single ETX Capital trading account incorporates several trading products that include:
- Forex Trading
- Binary Options Trading
- CFD Trading
- Spread Betting
- Equity Trading
- Commodities Trading
- Indices Trading
Therefore, ETX Capital is the perfect broker for traders looking to branch out to different markets and choose their desired assets to create a unique and diverse investment portfolio. The downside to the single account type is that there is no ECN account on offer, and it can be confusing for clients while accessing the different products through a single account. The official website of ETX Capital is also highly confusing, and it will take a few moments before clients can get a fair idea about the different services on offer ECN accounts help traders to get access to better spreads, price quotes, and an overall better trading environment, which is achieved by obtaining quotes from multiple liquidity providers. ETX Capital works on the market maker model, but unlike other market maker brokers, they don’t open trades against their clients’ positions. Instead, they pass on the trades to the market, and FCA clearly outlines several guidelines that prevent the broker from indulging in any trading misconducts.
Traders are provided a maximum ETX Capital leverage of 1:400 for FX and commodities, while other instruments qualify for a maximum of 1:100. The ETX Capital spreads and commissions are also dependent on the market conditions. Typical spreads start from 0.7 pips, but average spreads start from 1.5 pips for currency pairs and three pips for commodities, while the commission for equities and indices trading starts at 0.08%. ETX Capital has relatively better costs of trading when compared to smaller white label brokers, but the spreads and commissions are at par with the industry average rates.
Trading Experience With ETX Capital Platforms
ETX Capital offers the MT4 terminal as the standard trading platform for Forex and commodities, while the ETX Trader and ETX Trader Pro versions can be used to trade all of the financial assets that are provided by the company. ETX Capital mobile traders are offered the option of the MT4 mobile app, which are the standard issue mobile trading platforms for both Android and iOS users.
Traders can expect to receive a welcome ETX Capital bonus that matches up to 20% on the initial deposit. ETX Capital does offer an excellent trading environment through their proprietary and ETX Capital MT4 platforms, but traders can experience significant price gaps and slippages, which can hinder a perfect trading experience. Traders should also be careful about the changing spreads, which can trigger stop losses without any significant market movement. Overall, ETX Capital does provide a stable trading environment that does not aim to revolutionize the Forex market but is reliable in almost all aspects of trading.