CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.40% 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. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
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.
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Minimum Deposit:
$£100
Trust Score:
89
Tradeable Symbols (Total) :
6000
Top Takeaways
Here are our top findings on ETX Capital:
Overall Summary
Please Note: ETX Capital was not included in our last annual review. As a result, this broker’s ratings may be outdated. Read our best forex brokers guide for a breakdown of the top rated forex and CFDs brokers.
| Overall | |
| Trust Score | 89 |
| Offering of Investments | |
| Commissions & Fees | |
| Platforms & Tools | |
| Research | |
| Mobile Trading Apps | |
| Education |
Is ETX Capital Safe?
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89
Trust Score
ETX Capital is considered average-risk, with an overall Trust Score of 89 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.
| Year Founded | 1965 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 1 |
| Tier-2 Licenses | 1 |
| Tier-3 Licenses | 0 |
| Trust Score | 89 |
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.
Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker’s UK entity, nor to UK residents.
Offering Comparison
| Forex Trading | Yes |
| CFD Trading | Yes |
| Tradeable Symbols (Total) | 6000 |
| Forex Pairs (Total) | 79 |
| US Stock Trading (Non CFD) | No |
| Int’l Stock Trading (Non CFD) | No |
| Social Trading / Copy-Trading | No |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (CFD) | Yes |
| Crypto Disclaimer (UK) | Note: Crypto CFDs are not available to retail traders from any broker’s U.K. entity, nor to U.K. residents (except to Professional clients). |
Commissions and 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 2018 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
| Minimum 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 | Yes |
| Execution: Agency Broker | No |
| Execution: Market Maker | Yes |
Platforms and 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.
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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.
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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.
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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
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Average Connection Time:
<1 minute - Average Net Promoter Score: 8.5 / 10
- Average Professionalism Score: 9.5 / 10
- Overall Score: 9.02 / 10
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Ranking: 2
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
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy-Trading | No |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| cTrader | No |
| DupliTrade | No |
| ZuluTrade | No |
| Charting – Indicators / Studies (Total) | 51 |
| Charting – Drawing Tools (Total) | 31 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 7 |
| Order Type – Market | Yes |
ETX Capital Research Features
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Autochartist | No |
| Trading Central (Recognia) | No |
| Delkos Research | No |
| Social Sentiment – Currency Pairs | No |
| Economic Calendar | Yes |
Mobile App Features
| Android App | Yes |
| Apple iOS App | Yes |
| Alerts – Basic Fields | Yes |
| Watch List | Yes |
| Watch List Syncing | Yes |
| Charting – Indicators / Studies | 30 |
| Charting – Draw Trendlines | Yes |
| Charting – Trendlines Moveable | Yes |
| Charting – Multiple Time Frames | Yes |
| Charting – Drawings Autosave | Yes |
| Forex Calendar | No |