ETX Capital has a history dating back five decades. Based out of London, ETX Capital is a reputable broker that offers a variety of services for its traders. Founded as Monecor London Limited in 1965, the broker grew to include ETX Capital in 2008. ETX opens up to: Electronics Trading, Telephone Trading, and Execution Services. A member firm of the London Stock Exchange, ETX has direct access to several exchange markets and offerings of forex and CFDs. This broker provides users with offerings 59 currency pairings and over 6,000 CFDs that include cryptocurrencies traded as CFDs.
Even though their parent company Monecor (London) Limited has a history dating back to 1965, the broker ETX Capital only came to life in 2002, and is still a newcomer and an unknown in the broker world. Their original focus on industrial traders and high net worth traders gave way to the new focus on becoming the go-to place for the regular day traders. Since the change in focus ETX has soared to new heights.
Regulations and Security
A publicly traded company ETX Capital is regulated and authorized by the Financial Conduct Authority (FCA) in the UK. One of the stricter regulatory bodies, FCA regulation, goes a long way in ensuring people’s faith in their brand.
With ETX you will be able to deposit and withdraw your money using one of the several options available. These options are:
- Credit Cards
- Wire Transfers
- China UnionPay
ETX offers traders three account types, Live Trading and, Pro Account, and a Demo Account. Using the demo account, you can improve upon your trading knowledge and increase your confidence while using virtual cash. Using only virtual cash allows you the trader to build a trading strategy without risking any real capital. Once you feel you are ready, you can advance to the Live Trading account and make some real money.
To switch to the Live Trading account, you will need to make an initial deposit of USD 100. This will give you all the features and tools available to traders along with payouts that can reach 85%. Tight spreads on most vehicles make trading with ETX intriguing. The spreads range from 0.7 pips for EUR/USD to 4 pips for Commodities.
To become a Pro Account holder, you will need to fulfill two of these the three criteria. You must have either $500k in liquid assets, relevant experience in financial services or traded large amounts at least 10 times in each of the last 4 quarters.
ETX has two different platforms for traders to choose from, their very own proprietary Trader Pro platform and the ever so popular MetaTrader4 or MT4.
Trader Pro platform is for the more experienced trader. The Trader Pro offers a wide variety of features and tools for seasoned traders. The proprietary platform also offers a Guaranteed Stop-Loss Order (GSLO).
MT4 trading platform is one of the most popular trading platforms in the market. Even when the newer MT5 was announced it was the masses in the finance world stuck to using the older but reliable MT4.
ETX Capital supports 20 languages and has great customer service available for traders through email, live chat, and phone calls. A reliable broker, ETX is quickly growing in volume. A wide list of CFDs and forex pairings to go along with the decades of experience from their parent company makes ETX a broker worth working with.