Overview of ETX Capital
ETX Capital is a famous broker, forex, CFDs, spread betting and is quite old in the UK. This broker was owned by Monecor London Ltd, founded in 1965, initially, it only specialized in mortgage bonds, then expanded to securities and derivatives. In 2002, the company established a derivative trading retailer called Trad Index and later changed its name to ETX Capital as it is now.
Legally, Monecor London Ltd is licensed and controlled by FCA - UK Financial Control Authority, license number 124721 and also a member of the London Stock Exchange. This ensures that the company is strictly controlled, all activities and information are transparent, helping the market operate fairly, efficiently and the interests of investors are protected.
In addition, when licensed by FCA, this forex broker also participates in the Financial Services Compensation Program (FSCS) with a compensation of up to £ 85,000 in cases where the company loses its ability to pay. The bank, or the bank that the investor's account deposited with forex, goes bankrupt.
Having operated in the market for nearly 18 years as a forex broker, CFDs and spread betting, ETX Capital has become a famous broker in London, not only that, this forex platform has also expanded to Europe and Europe. Asia, Russia ... and known by traders around the world. ETX has also developed a trading platform for itself and won many prestigious awards, including: The best trading platform Awarded by Professional Trader Awards 2019 and The best trading platform for professional traders of the Online Personal Wealth Awards 2019. In addition, ETX Capital is honored to receive the award The best transaction training 2019 of Shares Awards.
With a transparent and reputable legal record plus the achievements that ETX Capital has achieved, this is a forex floor that is worth our attention. However, that is not all, apart from choosing a reputable forex broker, the conditions and trading platform must be good and meet the investment needs to help traders succeed in the market. Hopefully our following assessments of ETX Capital will help you make the best decision.
Trading products
ETX Capital offers a quite diverse product portfolio, meeting most of the trading needs of investors. In addition to popular products such as forex, metals, indices, stocks, commodities, cryptocurrencies, there are a number of other products such as bonds, ETFs and interest rates.
- Forex: more than 60 currency pairs, including the main currency pair, the cross and the foreign currency pair (exotic) - a pair made up of a major currency such as EUR or USD and a currency of the small economy or emerging like TRY, SEK ...
- Metal: 5 common metals are gold, silver, copper, platinum and palladium. Metals are traded through spot CFDs and futures CFDs.
- Index: nearly 20 stock indices from different markets such as UK, USA, Europe, Asia ... some famous indices such as JPN225, UK100, US Tech 100, SP50, HK50 ...
- Share: hundreds of stocks from nearly 20 countries in the world such as England, USA, Australia, Switzerland, Finland, Germany ... A few famous stocks, traded with large volumes such as Apple, Facebook, Lloyds, Tesco, Barclays ...
- Goods: including energy and agricultural goods. Energy has crude oil (Brent oil, Nymex oil, Natural gas). Agricultural products include coffee, corn, cotton, cocoa, soy beans, sugar, orange juice ...
- Cryptocurrencies: investors are trading the 5 most popular and currently largest market cap cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.
- Bonds: ETX Capital allows investors to trade 9 bonds such as US T-Bond, US 2 Year, US 10 Year, Euro Bund, 10 Yr UK Gilt ...
- ETF: provide 10 ETFs (portfolio exchange fund).
- Interest rate: a fairly new trading tool on the market, ETX Capital offers 3 types of short-term interest rates, including Euribor, EuroSwiss, Short Sterling.
Trading Account
For forex trading and CFDs, ETX Capital provides 2 live accounts classified by trading platform, namely MT4 and TraderPro accounts.
MT4 account: for new traders, small capital and trading with small volume. Some conditions for trading on MT4 accounts:
- The maximum leverage ratio (forex) is 1:30
- Minimum order volume: 0.01 lot
- Spread (forex) from: 0.8 pips
TraderPro account: this account is suitable for professional traders, trading in large volumes.
- The maximum leverage ratio (forex) is 1:30
- Minimum order volume: 0.1 lots
- Spread (forex) from: 0.6 pips
In addition, with each live account type by trading platform, ETX Capital classifies each customer group according to the amount of money deposited into the account. The larger the deposit, the more special and special services offered. There are 4 groups of clients categorized at ETX Capital: Standard, Premium, Professional and High Net Worth Equities.
Standard: is a group of customers with a minimum deposit of over 250 GBP and receives the following services and offers:
- Free top up, free withdrawal up to 5 times per month for withdrawals greater than 100 GBP / time.
- Be supported in the process of opening accounts from a group of experienced new members
- Join the Customer Service team
- Participate in online courses or trading materials of the exchange
- Receive market events and alerts directly into the investor's mailbox.
Premium: is a group of customers with a minimum deposit of over 1,000 GBP. This group will get all the same benefits as the Standard group and add some other preferential services such as:
- Supported by Personal Managers
- Provided with important market news and data
- Have the right to trade the latest products of the exchange
- Reduce transaction costs
Professional: As a customer in this group, you will enjoy all services from the Premium group and a lower margin ratio (traded at a higher leverage), in addition, ETX Capital will adjust the trading conditions to suit your needs. To become a customer in this group, you must meet 2 of the following 3 criteria:
- Own the property with value more than 500,000 EUR except for houses.
- Experience in financial services
- Make at least 10 transactions with significant volume in each quarter of the past year
High Net Worth Equities: this is the largest group of customers in 4 groups with a minimum deposit of up to 10,000 GBP. This group is suitable for those who are only interested in trading Capital and Options. In addition to the incentives received like the Premium customer group, this group particularly receives the premium services of the exchange such as:
- Fast and efficient order execution service
- Calling and chatting service with DMA and Bloomberg
- Margin rate, commission and competitive finance fees
- Get advice from experts of the floor
For Vietnamese investors, especially new traders, Standard will probably be the most suitable account for you at the moment, with better services and incentives than many existing exchanges. for standard account types.
Trading platform
ETX Capital supports its customers two trading platforms, namely MT4 and TraderPro.
MT4 software
Is the most popular trading software in the world today. MT4 provides a user-friendly interface, easy to use and full support for all customer segments, from new traders, small traders to large, experienced traders. A few basic features of MT4:
- 3 types of price charts, 9 time frames
- 4 types of pending orders
- More than 50 technical indicators and chart analysis tools
- EAs system and ability to test strategies
- Access to great services from the MQL5 Community platform
- Used on computers and mobile devices
TraderPro
ETX Capital is a platform designed specifically for its customers with many outstanding features, trusted and loved by many traders. That's why TraderPro has helped ETX Capital receive many awards for the Best Trading Platform category.
Salient features on TraderPro:
- Provides up to 8 types of price charts
- Custom tool for dividing and arranging charts in one screen
- Place orders quickly with the Order area on the screen (this feature is often available on cryptocurrency trading platforms)
- More than 60 technical indicators and chart analysis tools
- Ability to customize the workspace, the area on the screen can be hidden or shown depending on user preferences
- The platform is used directly on the web and mobile apps
TraderPro interface on the web
TraderPro interface on the phone
ETX Capital provides investors with a wealth of trading knowledge resources including lessons, trading guides, free online courses ... with very rich and useful content, also so this forex floor also won the award for best trading training for traders. Especially, with online courses through Webinars, the website will notify you of the schedule and content to be learned, you can book in advance to be on time. A very good trading training platform.
Leverage, commission and spread
Lever
ETX Capital offers relatively low leverage, and this is also the general situation of brokers managed by FCA.
Maximum leverage ratio is different for each type of product:
- Forex 1:30
- Metals: 1:20 gold, silver 1:10
- Index 1:10
- Stock 1: 5
- Merchandise 1:10
- 1: 5 (MT4) and 1: 2 (TraderPro) cryptocurrencies
Commission
Commission fees are only applied for trading stocks on TraderPro account and the fee is different for each type of stock:
- US stocks: 2 cents per share
- Australian stocks: 0.2% of trading value
- Singapore stock: 0.4% of trading value
- The remaining shares: 0.1% of the trading value
Spread
Spreads on major forex pairs at ETX Capital are classified as a group of brokers with relatively high spreads in the market, but the exchange does not apply commission on forex transactions. Spread spreads are the main source of income for this broker.
The average spread (pip) of some popular forex pairs on 2 types of accounts
Forms of deposit and withdrawal
ETX Capital offers investors the following deposit and withdrawal methods: Wire transfer, Debit / Credit cards, e-wallets such as Neteller, Skrill, Sofort and Giro Pay.
Recharge
- The minimum deposit is 100 GBP
- There are no fees to top up
- Processing time for deposits is at least 2 hours for Wire transfer and immediately for the remaining forms
Withdrawal
- If the withdrawal is less than 100 GBP then the withdrawal fee will be 10 GBP
- Free first 5 withdrawals per month with withdrawal amount over 100 GBP, withdrawal fee is calculated 10 GBP from 6th onwards
- Inactive accounts (without any transactions) for 6 months or more will be charged a dormant fee of 25 GBP
- Time to account for at least 24 hours for electronic wallets; Card and bank transfer may take 5-7 business days
Summary of pros and cons
Advantages
- Licensed by FCA, the world's leading authority
- Diverse transaction products
- Good trading platform, many outstanding features
- Transaction with no commission or low fee (stocks)
- Support Live chat 24/5
Defect
- High minimum deposit, do not support small investors, less capital
- Limited trading account, not much choice
- Low maximum leverage ratio
- High spread
- Withdrawal costs, time is quite long
- TraderPro platform and website do not support Vietnamese, making it difficult for many investors to learn more about the exchange
Through the evaluation above, hope you have had a more specific and detailed view of this exchange. ETX Capital is not too famous in Vietnam and also many traders are hesitant when deciding to open an account at the exchange. However, with a reputable and transparent legal record plus good trading conditions, this may be one of the bad choices for Vietnamese traders. Before making a decision to open a trading account at ETX Capital, you can still open a Demo account to experience the trading conditions here, especially TraderPro platform, if it is suitable for you. needs, you can reconsider. Choosing a reputable and suitable forex broker is not easy, so do not need to be in a hurry but think carefully, comparing with a few other reputable forex brokers to make the main decision. most accurate.
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Author: Tin Nguyen
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