ETX Capital Review | Binary Broker Test 2018
The dream of an uncomplicated and huge financial success seems almost obligatory. While many lucky knights swear by lotteries and online casinos, forex trading has proven to be a first real alternative, not least because personal skills can be optimized with specific strategies and approaches, but because forex is what allows an average person to make huge profits, that is, if he can outsmart others in trading!
Brokers have mushroomed for several years, trying to outshine the competition with better deals and more lucrative returns. The choice of a suitable platform is more and more similar to a search for the needle in a haystack. We have looked at ETX Capital, the existing broker since 2002, and have been able to gain almost entirely good reputation.
Broker and regulation
In modern trading with Forex, diverse trading options and favorable terms determine the success and failure of a providers. In addition, users do not want to complain about a lack of security measures or even have to be afraid of being ripped off by dubious operators. ETX has no such worries as its office is in London. The broker is consistently regulated by the UK Financial Services Authority (FSA) and is subject to strict obligations that only have a positive impact on investors.
Remarkable: Corporate and customer funds must be kept separate from each other! A fiduciary account ensures that even in the event of bankruptcy, there is a deposit guarantee up to a maximum of £50,000. The trading platforms and functions are also regularly audited by independent auditors to guarantee security, legitimacy, discretion, and fairness. It comes as no surprise that hardly any user has ever experienced bad ETX Capital experience.
Trading conditions/terms are average at ETX and can be compared to some of the competitive brokers. The EUR/USD currency pair trades starts at 7 pips spread, while other popular pairs such as AUD/USD, USD/CAD, and NZD/USD start the spreads at ~9 pips. At one index point, the bid/ask spread for contracts on CAC40, FTSE100, and DAX is considered exemplary. For newcomers trading via MetaTrader4 is recommended, since ETX waives a minimum deposit in this case. For the trading account to work with the ETX Trader Pro, however, at least $750 must be deposited. All this is averagely good, but more geared towards experienced traders who want to revamp their strategies and make effective market analysis.
At ETX Capital, there is no shortage of opportunities so not many traders have anything to complain about. Traders get access to all relevant markets and can trade stocks, currencies, commodities, and indices according to their own needs. More than 45 different currency pairs speak for themselves and underpin the desire to meet all wishes. The commodities alone contain more than 65+ tradable assets, which are distributed among other things in precious metals and consumer goods such as sugar, coffee, and corn. About 70+ ETFs are available at low fees.
In our ETX Capital testing, the opening of an account proved to be easy and fast and free of charge. In order to complete the process, the user first enters his or her email address and password before the mandatory entry of personal data takes place. Do not worry, by the way: even if a relatively large amount of information is collected, the operator is only complying with the applicable laws. Binary options trading is reserved for full-year traders who are reasonably oriented. Prior to any withdrawal that can only be made to the specified bank account, personal information is subject to review. The somewhat cumbersome approach serves as the safety of users and providers.
Forex trading does not work well without strategies and progressive approaches. However, if traders want to increase their chances, it is advisable to constantly question their own tactics. After all, as in poker, nobody has ever learned! In our ETX Capital test/review, it has become clear that the broker is very specific about the new generation and increasingly targets new customers who have no routine at all, but who want to intensively deal with a new hobby.
To trade without the fear of loss, ETX offers a free demo account, in which the handling and trade with binary options can be learned playfully. In just a few steps, interested parties will find out how easily trades can be concluded and what returns can be expected. The only problem with the demo account is that it is only available for a short time! After 14 days, trades can only be made with real money. If experienced traders want to stay up to date, the educational offer is recommended, which is regularly renewed and fed with further expert opinions. Together with the weekly market overview and a news agency in real time, the demo account, which can only be used for a short time, soon turns out to be no more than a flaw.
Overall Rating: 3.9/5.0
Details about the broker: Features
Max. Leverage: 1:200
Account from $200
Min. Trade sum $5
Assets stocks, currency pairs, commodities, and indices
Bonus up to 100%
Regulated by FCA
Platform ETX Trader Pro, ETX MT4, & ETX Binary
Mobile Trading is available
Supported Languages: English and many more.
Support via email and phone
Official regulation by the British Financial Supervisory Authority FCA
Deposit insurance up to 50,000 GBP
Margin from 0.5 percent
Free demo account for new customers
No minimum deposit
Extensive educational material is offered with webinars
Mobile trading for Android, iOS and Windows devices
Demo account can only be used for 14 days
No live chat support
Works as a Market Maker
ETX Capital acts as a legit and secure broker who leaves not much to be desired. The supply situation is diverse, new customers feel immediately taken by the hand and welcome. The only notable disadvantages are customer service, which, even though, does a competent and effective job, but is a bit difficult to reach them. The fact that no live chat has been integrated, is no longer acceptable in the present time, but on the whole, a rather modest criticism. The provider is suitable for every level of trading! Which is why it scored good in our test.