ETX Capital Review
ETX Capital was launched in 1960 with its base in London, England. It is among the oldest brokers in the exchange industry. This broker has been offering exchange services for about 56 years.
It currently meets the trading needs of over 55,00 traders across the globe. So far, its services have been satisfactory. A glance through reviews left by users on trust pilot may leave you wondering if this broker is what you have been looking for.
There are a lot of things to be assessed before a broker can be tagged as efficient. This is why user reviews cannot suffice when making a decision. In this article, we will be covering all there is to know about ETX Capital and why it may be the right broker for you.
Features Of ETX Capital
| Accessibility | Android, iPhone, and Desktop |
| Markets | Over 5000 |
| Indicators | 60+ |
| Shares | Apple, Facebook e.t.c. |
| Interface | Simple |
| Webinars | Weekly |
| Regulation | FCA, FSCA |
| Payment channel | Visa, Mastercard, Maestro, Union Pay, Skrill |
Accessibility
Every trader deserves a broker that is easily accessible. There are so many exchanges that fall short in this aspect. ETX capital is available on different devices making it easy for traders to use the platform from anywhere.
Some traders enjoy surveying the market and trading from their phones. The website can be accessed via web browsers while the app can be downloaded from the Google play store or Apple app store.
Some versions are compatible with desktops for desktop users.
Account Creation And Verification
An account can be created in minutes from the website’s sign-up page. Personal details like legal first and last names will be collected as well as the user’s email address.
Immediately, a link will be sent to the user’s email to verify the address provided. To complete this step, click on the link sent to your email. You will be taken to a page confirming your email has been verified at both ends.
The account is now live and can be used for trading once it is funded. However, along the line, restrictions will be placed on the account.
The trader will have to completely verify the account before the restrictions can be lifted for trades to continue. Usually, the process is simple. ETX Capital is mandated to collect a government-issued identity card and a proof of address document from its users. The specification may vary for different countries.
The team in charge of this will look over the documents submitted before approving the account. The restriction will be lifted simultaneously. Traders are advised to complete the verification process before moving on to account funding and trading.
Markets
This broker provides traders with the wings to fly to any height. The long list of available markets creates room for anyone to choose from the vast instruments and start trading.
This ensures traders optimize their profit from the market. A trader can start with one instrument and shift to the other till they find their best fit.
Trading costs are very minimal. This is a common fear traders have when executing trades. In some unpleasant circumstances, the broker ends up claiming almost all of the profit made. Beginning traders tend to feel the impact of this the most.
Here, the belief is traders deserve the best and all practices revolve around this. Fees associated with trading are on the low side. The spread rates charged are extremely low compared with the regular industry charges.
Indicators
The indicators provided on the platform are over 60 including the Fibonacci Retracement. These tools are effective when making any analysis. Investors hoping to hold their assets long-term can easily monitor price predictions with these tools.
Traders can select the ones they are comfortable using. They can be added to charts to aid the prediction of market prices, directions, and behaviors.
All the trading tools are efficient. This is one of the popular reasons users gave for recommending the platform.
Shares
The shares market is one great place to test one’s investing skills. This can only be possible if the best shares are brought to your fingertips. Where shares from well established firms are available, the fear that often holds new investors back is quietened.
It is the certainty that the investment will materialize that brings the most joy. The shares listed on the platform are shares from top companies like Apple and Facebook.
Minimum investment limits are left for investors to decide. Although, the platform made provision for investing guides targeted at those who have little to no idea on how to start.
Security
Finances are very critical. This is one reason why a broker must provide a safe environment for trading, exchanges, and investing. The security features may range from account protection to provision for fund safety.
During the account creation process, users are required to submit documents that prove the details provided are accurate. This helps keep the platform safe as everyone has a traceable address.
On the company’s part, they ensure client’s funds are locked away safely and separated from the company’s fund. This cancels the possibility of losing client funds.
Every account has premium security features. They are safeguarded from the unwholesome troubles of hackers. This protects clients from possible account and asset swaps.
The platform is built with top-grade technology. All the information collected from clients is well secured. Optimum security is guaranteed when trading on ETX Capital.
Interface
The platform is designed in a very simple way. Navigation through any of the sections is very easy. In addition, tutorial guides were created to guide first-time users who may encounter trouble finding what they are looking for.
The main language is English but several others are available for traders who are not English natives.
Regulation
There are a thousand and one reasons why a trader should never sign up with an unregulated broker. One major reason is that they are not supervised by any superior body. As such, they can do as they please.
The exchange industry has experienced so many troubles including the shameless practices of some faceless brokers who operate under different names. When a particular site is reported and closed down, they move to another.
In each instance, they run away with their clients’ funds. These brokers are not very easy to spot because they render their services promptly until the time to execute their heinous plan arrives.
This may not be the case for all unregulated brokers. But then, traders are not in any way obliged to trust brokers who cannot do the necessary. It is the only way traders can separate good brokers from fraudulent ones.
ETX Capital is registered in London and supervised by two Financial services organizations. The financial conduct authority and the financial sector conduct authority in South Africa.
Both bodies have very stringent policies geared at protecting clients on affiliated platforms. This broker faces constant scrutiny to ensure it meets the laid down policies. Users can be assured that the platform is safe for trades of any kind.
Awards
No one is bestowed an award unless they have exceeded the usual. This is to give them the recognition they deserve for taking a step further.
This broker has won a couple of awards at different periods. It was given the award for best trading platform three times in 2019 and most accessible broker in 2020.
Market Analysis
Analyzing the market is very important as this serves as the compass for all trading choices. Expert and intermediate level traders might be able to analyze the market on their own but beginning traders may find this difficult. Some expert traders see this constant routine as time consuming and desire a reliable source to get valuable market feedback.
To meet this particular need, brokers must be able to provide accurate analysis on their platform. The analysis should be broad enough to touch every market available on the site. This ensures that even the traders that chose products in small niche markets get useful trading guides.
ETX capital frequently publishes in-depth analysis made by experts on their team. External analysts are properly vetted and anything valuable is posted on the site. Traders can turn to this to get the very best analysis about the market.
People who may not find logging into the website easy can choose to have the daily predictions delivered to their inboxes. Although, terms and conditions may apply.
Trading Platforms
The kind of platform on which the accounts on a brokerage site are hosted is a big factor to be considered. This affects the smoothness of trades that will be executed with those accounts. Good platforms eliminate the occurrences of system lags and poor load or execution times.
The two platforms on this brokerage site are ETX Trader Pro and ETX MetaTrader 4. The former is the company’s maiden trading platform that has hosted a vast population of traders with no hitch. The latter makes use of the popular Meta Trader software. Its features have been incorporated into some accounts on the platform.
Regardless of the account type you will be using, the trading software has great technology to ensure trades are smooth. It may not be the best in terms of providing premium software but it is one of the best. And, that is all that matters.
Major Currencies
The major currencies supported on a brokerage site will affect the ease of operations on the platform. If your country’s currency is not listed, you may have to open a digital account with an online bank. The currencies supported on this site are USD, GBP, and EUR.
Traders who do not use any of these currencies can get wallets or accounts that have any of the above. Then, exchanges can be made.
Account Types
The account types available on this site have features that meet the desires of traders of different skill sets. The two account types can be used by both individual and institutional traders. They are classified under the trading platform on which they are hosted.
Education
When it comes to education, ETX Capital is second to none. It has a vast library with rich resources ranging from books to courses, tutorials, and videos.
There are specific videos to guide traders on how to use the platform. The charts, graphs, and other trading tools are easy to use and they all come with instructions that traders can follow.
The platform also has a demo account which is more like a clone of a live account. Its features are quite similar to a real account and traders can use this to practice before trading in the live market. Here, the trader incurs no loss as they practice.
Some long-form articles and guides cover basic topics in very simple ways.
Customer Support Service
Despite the ease of navigating the platform, users can still face some hitches. This could be with account creation or verification. Or there might be a need to get explanations on some issues like investment and account funding.
The customer service department is expected to cater for such needs. The unfortunate reality is that some companies render poor customer support leaving clients in a state of confusion when they encounter issues with the website.
The opposite is the case with ETX Capital. Its customer service department is filled with very patient communication professionals that are ever ready to attend to clients’ needs. All cases reported are handled with urgency and resolved shortly after. They receive requests and calls between 7:30 am and 9:00 pm London time every day of the week.
Mobile phone calls and emails are the main means of communication. Their social media handles are also available though they may not be as efficient as phone calls.
Traders are more than welcomed to contact the customer service department whenever they need to and lay their complaints.
News
The spontaneity of most financial markets is the bane of major losses facilitated by a lack of information. Traders need to be updated with market happenings to adjust the direction of their trades. Investors also need to be well informed so that they can make changes to their investment strategies when necessary to get the most yield from their investment.
The problem is often not the lack of will to be informed but the unavailability of a good site to get accurate information. A good broker makes sure that traders get access to news valuable to their trading paths. Most sites ask traders to configure their account timelines by selecting areas they want updates on. This streamlines their newsfeed so that only valuable news is received.
ETX Capital does a great job in making sure clients are informed. News updates are published several times a day. As changes are occurring, reports are being published. Traders on the site are constantly aware of things that go on in the different markets.
Webinars
Online and offline webinars are short programs tailored to tackle common problems traders and investors face. Very few brokers offer this feature. A majority only host offline webinars and location becomes a barrier for many traders.
This broker hosts both online and offline webinars. The programs are held at regular intervals. Experts and Instructors are invited to speak to the audience and share the best advice on how traders can improve. Successful traders also get to speak to the gathering, dishing strategies that helped them succeed.
The webinars are value-packed and open to all traders with registered accounts on the platform.
Payment Channels
The payment channels a broker supports give traders hindsight to how trades will be like on the platform. All deposits and withdrawals must be made via payment channels. A broker that has a narrow list of payment channels will make the withdrawal and deposit process difficult for traders.
Before signing up, confirm the channels being used are popular and verified. They should also be functioning in your country of residence. The charges these third party channels fix should also be considered.
ETX Capital supports the use of top payment gateways for account funding and funds withdrawal. The list of payment channels allowed includes Visa, MasterCard, Maestro, Union pay, and Skrill.
These gateways operate in so many countries. Traders can pick any of the above. Local credit and debit cards are supported by each of the channels listed.
FAQs
The FAQs section is an extension of the customer service department. It is easy to find quick solutions in this section especially when there are lots of answered questions.
This section on the website is filled with many questions arranged in segments based on their similarity. Users who find contacting customer care a long process can help themselves out. The section that seems to be similar to the problem at hand should be surfed. A possible solution to solve an issue can be found in one of the answered questions.
It is important to note that this may not substitute calling the customer service department. Placing a call is a great way to solve any problem that may be encountered and it tends to be faster as the solution given is specific to the issue reported.
Conclusion
ETX Capital is an amazing brokerage site with a lot of experience serving many traders from different countries in the world. Their services are highly intuitive because they have been in business for a very long time. It is a great choice for traders of all experience levels.
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