ETX Capital Review 2021

ETX’s trading fees are average compared to other similar brokers. OvalX is regulated in the UK by the FCA and other top regulators which makes them safe for trading as traders have protection for their funds. Card deposits on OvalX are credited instantly and bank deposits are handled rate of change indicator manually by the accounts department and may take up to 5 business days for your account to be credited. To open a Professional Account on OvalX, you will need to first open a Standard Account, and then apply to customer support to have your account upgraded to a professional status.

This platform is suitable for traders who are already comfortable with the system and do not want to switch. On the other hand, ETX Capital does not charge an inactivity fee. It’s worth noting that these sorts of fees are difficult to find on the broker’s official website, making the fee structure opaque. The account opening process on ETX Capital is fully-digital and hassle-free. The online application takes roughly 20 minutes to complete.

And of course, you would be trading with constant customer support services that are available and respond by phone or email, or an international number for non-UK traders. This was my second attempt at placing trades on the dummy account as a new trader. Having written the process down to follow I did manage to place 4 trades. I did feel a bit small and stupid as I didn’t know the answers to his questions. That was because the process had not been properly taught to me. I have done 3 trades on my own because I have the full process.

Who owns ETX Capital?

Not all deposit methods are available to all traders, dependent on the geographic location and account base currency. I like the 79 currency pairs ETX Capital offers, placing it in the top quintile of brokers, but the seven cryptocurrency pairs remain a disappointment. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

Their regulation is done by the Financial Conduct Authority but how ETX Capital continues to stay in business is beyond us. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. I hope this helps, especially as there are so many scams brokers out there and so few decent ones.

The website may get reimbursement from the services or brands mentioned on this site. ETX Capital customer reports have been mixed in terms of the given customer service. For the appropriate telephone contact number and email address see the Contact Us section of the website. No live chat– Whilst most competitors offer live chat support, ETX Capital offers only telephone and email support. Limited account options– There have been complaints about the limited account choices. One regular account means there are no financial incentives and benefits for traders with bigger capital.

Mobile Applications

Since the FCA regulates the ETX Capital, the Markets in Financial Directive permit the broker to function as a licensed entity in the whole of the European Union. There is a Financial Service Compensation Scheme which safe the client’s money up to £85,000. ETX Capital is highly regulated by the FCA in the United Kingdom. This is one of the most famous regulations and licenses in the world. Through this regulation, we can recommend that the broker is safe to invest with. Toll-free number or a direct number to the new accounts office where hours are 8 a.m.

Both the TraderPro and MT4 apps can be downloaded from the Apple Store for iOS devices and through the Google Play store for Android devices. Marko has been working on market wizards series the road for over 5 years, and is currently based in Europe. Alongside writing and editing, Marko works on projects related to online technology and digital marketing.

It is possible to do your research and save the settings just as you want. No stress, it’s just a click on the chart button on the particular market. Right there, you can select the Charts window and click on the kind of selection and style you want. The Software gives you the same tools as the MetaTrader but the interface is much smoother and user-friendly. Multiple chart types, technical indicators, and drawing tools are available for analysis.

If you are unable to attend the seminars, you can watch pre-recorded and live online webinars that are provided free. ETX Capital reviews show that this broker provides reassuring customer support via live chat, email and a toll-free Universal International Freephone Number . Besides English, customer support is offered in French, German, Turkish, Spanish, Russian, Romanian, Portuguese, Polish, Italian, Hungarian, Dutch, Czech, Chinese, and Arabic. Traders from all over the world can benefit from these multilingual support services.

Though the basic market spread is broader since a 3-day position is done instead of one. Also, for FX, interest, the summation is based on the particular currency used in trading. The application looks just the same as the official website with the same controls and functionalities. All kinds of trade types and offers are the same on the mobile platform, also are the account management features and trade history. The download is fast and straightforward, and the trader can log in with their detail to make a fast trade.

There is a free demo account which is easily accessible and will allow you to practise trading. Use the MetaTrader 4 version of the ETX trading platform while you familiarise yourself. Unlike many brokers, with ETX Capital, there is no live chat function, and the customer support is not available 24/7. That said, what customer support they do offer is very prompt and relevant. To meet the requirements, you need to meet two out of three criteria.

Yes, we can confirm in this OvalX review that the broker is legit. Regulated in the UK and Cyprus and covered by the Financial Services Compensation Scheme, OvalX has a good reputation as an online trading platform. The OvalX minimum deposit is just 100 units of your base currency ($100, for example). This, coupled with the fully digital account setup, makes it easy to register. While there are no restrictions against scalping at ETX Capital, the structure does not make it ideal for scalpers. Therefore, traders who wish to scalp the Forex market will find more suitable brokers with an infrastructure that supports it.

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Trading tools– Customer reviews speak highly of the scope of tools on offer from this leading platforms. You get advanced charts, one-click trading, plus a range of technical indicators. Since they are limited they have to comply with a range of consumer protection measures.

In conclusion, the ETX Trader Pro is a little bit better than the MetaTrader 4 but does not support automated trading. In Europe, the ETX Capital relishes a steady regulatory reputation, but this is not the same in the United States. So, the ETX Capital Company is a part of those companies that folded up its services from operating in the US. Note that none of its services or products are transacted with the citizens of the United States. ETX Capital provides an execution-only service and all information that is provided is for educational purposes only and should not be considered investment advice or investment recommendation. Any instruments that are mentioned throughout are cited only for illustrative and educational purposes.

OvalX review Safety

These are the reasons why we are giving them a Design score of 5/5. Popular strategies such as hedging, scalping, and a variety of other methods are all possible with the MT4 platform. Users also have access to the educational material to assist them in getting the most out of the platform. This platform offers an array of functionality as well as excellent security. ETX Capital, which has been operating in the United Kingdom for more than 50 years, is among the top CFD and Forex brokers today.

For select major Indices, the minimum spreads begin from 1 pip. On top of this, ETX Capital provides leverage rates at 100/1 for multiple products and as high as 400/1 on select MT4 products. Just visit the ETX official site and click on the create account button. The system will demand that you select your country of origin from a list.

The advantage of this is that you pay no commission on most of your trades . The spread is starting with 0.6 pips in forex and 1 point in indices. The trading costs are very competitive with other CFD Brokers. OvalX’s spreads tariffs provided via access to the institutional greed of pricing, the OvalX trading fees are built into the spread.

Furthermore, if you want to withdraw less than $100, you will be charged a $10 fee. It’s important to note that these types of charges are hard to find on the broker’s official website, making the fee structure not very transparent. For a tailored recommendation, check out our broker finder tool. Answer 4 simple questions and get a list of the most relevant brokers.

Specific product trading times may however vary in response to liquidity changes. Additionally, opening hours may be influenced by Christmas trading hours and other holidays. International accessibility– Customers from all over the globe can trade with ETX Capital, be it from Australia, Ireland, Germany, Spain, India or Indonesia. Automated trading– The MT4 platform allows for APIs and extensions so you can enlist the services of trading robots and EAs. Education– The broker offers a vast range of free educational resources – training modules, video commentary, downloadable files and more.

Also, the intuitive and easy-to-navigate nature of the broker’s 2 supported trading platforms and its copy trading app gives the user an excellent trading experience. The MT4 remastered app, which allows for automation and access to a mini terminal, adds to the MT4 platform’s viability. ETX Capital provides both desktop and mobile platforms for forex trading, contract for difference trading and spread betting as well as a copy trading app. Read on for information about the broker’s supported platforms. What ETX Capital offers is a trading environment that is generally favorable for their traders and a wide variety of benefits that cannot be easily matched by their competition.

The UK’s tier 1 financial regulator FCA has fully authorized and regulated ETX Capital to offer CFD trading products. You can watch webinars about trading methods, trading tools, technical analysis, and other topics. You may also learn from amazing ebooks; however, they only cover a few areas. There’s also a glossary to help you decipher new terms, idioms, and acronyms. When you choose a platform on ETX Capital, you will find classic MT4 platform options.

For example if you have a specific query about your account you’ll need to contact them in person due to security. Traders can take advantage of the exclusive free eBook library to learn about key trading strategies and instructions on analysing various market events. Monecor Ltd is authorised and regulated by the FSCA under license number 50246. We may receive compensation when you click on links to products we review. OvalX is owned by a joint venture between a UK company JRJ Group and a Netherlands company BXR Group. The two companies acquired Monecor Limited group in 2007 and changed its trading name from TradIndex to ETX Capital.

I’ve been trading with ETX since 2014, made a considerable bunch of profits over the years. You can expect two types of platform and trading software with ETX Capital. First, and more commonly used, is the MetaTrader 4 platform which is free to download and tailored to work with the ETX interface.

OvalX review Mobile trading platform

TraderPro and MetaTrader4 are two mobile trading platforms offered by ETX Capital. TraderPro is a mobile app that works on both iOS and Android smartphones. The mobile trading platform has a different design from the web trading platform, but the functionality is the same. This platform is designed for experienced traders or ‘pro’ accounts. In this, you’ll have access to various complex features and a broad range of financial marketplaces.

The ETX TraderPro trading platform gives you access to advanced trading tools like a complete charting package. This lets you take advantage of trading opportunities in real time with powerful technical analysis tools powered by the latest technology. The content on this website is provided for informational purposes only and isn’t intended to constitute professional financial advice. The content is provided on an as-is and as-available basis. Trading any financial instrument involves a significant risk of loss. Commodity.com is not liable for any damages arising out of the use of its contents.

OvalX Trading Platforms

Following the acquisition, the group decided to rebrand TradIndex into ETX Capital. Since October 2020, ETX Capital, part of Swiss-based Guru Capital, purchased the online brokerage from JRJ Group. I also recommend checking the costs from the payment processor to the bank account unless a debit/credit card is available.

ETX Capital upgrades it via its ETX MT4 Remastered package, but it lags competing brokers. The asset selection varies between trading platforms, with ETX Capital Pro offering all trading instruments. Coming to spreads payable, you can select between variable spreads and fixed . The lowest forex spread begins from 0.7 pip for the widely used EUR/USD pair. Equities provide 0.08% indicative spreads for certain stocks, while minimum spreads for commodities begin at 3 pips.

With OvalX Standard Account, you can trade CFDs or trade spread bets. These are the two account types under the Standard Account. This account also has negative the commitments of traders bible balance protection, which means you cannot lose more than the money you invested. Funds can be added to your account via bank transfer or credit/debit card.