Review of ETX TraderPro

ETX Capital Review

Forex, Metals, Indices, Energy, Soft Commodities, Cryptocurrencies, Equities, ETFs & Bonds

  • FCA regulated ✔
  • EUR/USD spreads from 0.6
  • Minimum deposit: $/£100
  • Trader Friendly grade: A
  • ETX TraderPro and MT4
  • Active Trader Package, T&Cs
  • 60+ Forex pairs
  • Mobile trading
Spread Betting & CFD Trading • Over 5000 markets • ETX Capital.

ETX TraderPro Review

ETX TraderPro is a platform for Spread Betting and CFD trading offered by ETX Capital, a London based, FCA regulated broker.

The platform offers over 5000 markets, the bulk of which are Shares from the UK, the US, Europe and the world, including ETFs and IPOs. There are over 60 Currency pairs available as well as Indices, Metals, Energy, Soft Commodities, Cryptocurrencies, Bonds and Interest Rates.

ETX TraderPro is available as a web platform, or as a mobile or tablet app. ETX Capital may be compared with other brokers.

Briefly, what does ETX Capital do ?

ETX Capital provides CFD trading and spread betting on a relatively wide range and large number of markets. It supports discretionary trading, particularly on its ETX TraderPro web platform and also supports automated trading, with MT4.

MT4

In addition to ETX TraderPro, ETX Capital offers the MT4 trading platform, allowing EAs and copy trading. ETX Capital MT4.

Free VPS offer

So that the trader can use MT4's Expert Advisors and copy trading 24/7, ETX Capital has a free Virtual Private Server (VPS) offer, T&Cs apply. The trader needs to meet trading volume conditions and deposit a minimum of $2000.

Awards

Awards won by ETX Capital include winner of 'Best Forex Educators' at the 2017 UK Forex Awards, 'Best Forex Trading Tools and Software' at the UK Forex Awards 2013 and winner of 'Best Futures and Options Broker' at the 2012 Shares Awards.

Cryptpocurrency trading

ETX Capital now offers Bitcoin trading, for CFD trading or spread betting, offering Bitcoin (USD), Bitcoin (GBP) and Bitcoin (EUR). In addition it offers Ethereum, Litecoin, Ripple and Bitcoin Cash. ETX Capital.

Opening an account, minimum deposit and funding

ETX Capital accepts clients worldwide, with a number of exceptions and cannot accept clients from the USA. In the UK and Ireland, a spread betting account can be opened, but CFD trading is available as well.

In the UK, the account can usually be verified during the sign up process, otherwise further documentation will be needed. However when verified, the live account is available to trade with once a deposit has been made.

The minimum deposit is £/$100. Deposits methods include wire/bank transfer, online bank transfer, major debit and credit cards, Skrill, Neteller, China Union Pay, Sofort and GiroPay. Deposit methods available depend on where the trader is located, for example the UK site offers wire/bank transfer, online bank transfer and major debit and credit cards. ETX Capital has no deposit charges.

ETX Capital charges a withdrawal fee for smaller withdrawal amounts and for more than 5 withdrawals in a calendar month. There is an account inactivity fee.

Demo account

ETX Capital provides a demo trading account which can be opened here: ETX Capital demo account.

Active Trader Package

For a minimum first deposit of £/$/€1,000, T&Cs apply, ETX Capital provides a dedicated account manager, news and updates from Trading Central and a free 8 hour trading course to be taken within 6 months.

Platform and features

On the left of the web trader platform is a menu with markets available (FX, Cryptocurrency, Indices, Equities, Commodities, Bonds/Interest Rates) and Watchlists, including the ETX Capital created 'Popular Markets' watchlist and any user created watchlists. Beside this is a box containing the markets brought up by clicking on the menu. Beside this, on the right, are charts (charts can also be brought up from each individual market).

The chart has a comprehensive set of time frames, covering tick and 1 second to monthly. Also no matter what time frame is examined, the chart updates at the same rapid rate. The visual layout is clear and easy to see.

There are 8 kinds of charts available, candlestick, HLOC, line, area, plot, cloud, three line break and Heikin-Ashi and the bid, ask or mid range of prices can be selected to display on the chart. There is a studies tab, from which 55+ technical indicators can be found (including RSI, ADX, Stochastic and MACD). Trend lines can drawn from the chart.

ETX Capital offers a range of features, including commentaries, webinars and seminars. Find out more about ETX Capital education.

Spreads and leverage

  • Spreads on ETX TraderPro are variable.
  • The minimum spread is 0.6 for Euro (EUR/USD), 0.9 for GBP/USD, 1 for the UK100, 0.4 for Gold and 0.05 for US Crude Oil. CFD and spread betting spreads are the same.
  • Spread betting and CFD spreads for most Shares are from 0.2%.
  • For spread betting, Shares incur an additional spread which varies from type of Share, but starts at 0.05% for FTSE 100 shares.
  • For CFDs, Shares incur an additional commission charge which varies from type of Share, but starts at 0.1%.
  • Leverage varies depending on the instrument, but the maximum leverage available is .

Minimum position size

For spread betting, the minimum Forex bet size is 10p, but it can range higher to 25p and 50p depending on the pair. Indices and Commodities range from 10p-£1 (the minimum bet for Gold is 10p). Bonds and Interest Rates have a minimum bet of 50p. ETFs have a minimum bet of £1.

For CFDs, the minimum trade size for Forex, Indices and Commodities is 0.1 lots. The minimum trade size for Bonds and Interest Rates is 0.5, but most have a minimum trade size of 1 lot. ETFs have a minimum ticket size of 10 shares. Micro lot trading is available on the MT4 platform.

Placing a trade

Orders, including stop-losses can be placed from the platform, but some of the less standard markets need to be phoned in. The greater the trade size, the more margin is required for a given leverage. Setting a stop-loss can change the margin required (as it can set a limit on the amount needed to cover a potential loss). A guaranteed stop loss incurs a charge.

Regulation

ETX Capital is a trading name of Monecor (London) Limited, company number 00851820. Monecor (London) Limited is authorised and regulated by the Financial Conduct Authority, register number 124721 and is a member firm of the London Stock Exchange. ETX Capital's address is One Broadgate, London EC2M 2QS, United Kingdom.

Pluses and minuses

  • ETX Capital provides the ETX TraderPro platform, along with MT4.
  • It offers a range of trading features on the platform.
  • ETX Capital provides a large number of products to spread bet and a range of markets.
  • It does not offer fixed spreads, as some other spread betting brokers can, but it does offer competitive, tight variable spreads.
  • ETX Capital is an FCA regulated broker.

Summary and grade

ETX Capital offers low variable spreads and a large number and a wide range of markets. There are brokers with more features and with low fixed spreads, but ETX Capital comes across as something of an all-rounder, offering features for both the beginner and advanced trader.

ETX Capital's range and depth of features, low spreads and also the number of markets it makes available helps give ETX Capital a Trader Friendly grade of A.

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