ETX Capital Broker Review
ETX Capital can safely be called a main player on the spread betting market but it cannot be claimed that they are at a level with the ‘big two’ IG Index and CMC Markets. Their software is good, far better than many competitors, but doesn’t have quite the functionality of the two market leaders. With decent spreads, and a very large number of products to trade twinned with good account management service they are definitely an option worth considering if you are not the sort of person who automatically chooses the big players.
If you are a beginner you will be pleased to hear that on some currency pairs you can trade from 0.25p per pip, which is much lower than many others and great for those starting with a small account.
ETX Capital Broker Review- Products and Spreads
Generally well stocked in the products category. They come equal third after IG Index and CMC Markets on our selection of 10 random products. They are strong on the core offerings like Currencies and Indexes but fall down in shares - without a strong offering in smaller UK shares for instance. Spreads are reasonable, again slightly higher that the two big players and the dedicated ‘spread-first’ companies like Core Spreads. But you know if you trade with ETX that you are getting a decent deal on spreads.
ETX Capital Broker Review - Interface and Platforms
The ‘TraderPro’’ interface is good and there are some nice tools. It lacks a bit of the polish in graphics of CMC Markets, but it has an undoubted edge over the cut-back offerings of the smaller players like DF Markets or London Capital Group. It has a full range of customisable indicators, so unless your tastes are very ‘off-piste’ you will be well served here. You can have the background either black or white to suit your tastes but that’s it in terms of customisable skins. The black-and-gold theme is my favourite, it is a bit different to many things out there and gets a big thumbs up, but that is rather subjective I suppose!
There is an MT4 option which is good to see, meaning you can take advantage of their reasonable spreads and good FX product offering without using their front end if you are not a fan.
ETX Capital Broker Review - Service
With UK based call-centres and a dedicated account manager you never have to fret about getting hold of ETX.
Account opening was very simple and there was no high-pressure phone call, more of a service oriented call. Nothing to report here.
Andrew Saks-Mcleod of Finance Feeds Comment: “Prominent British spread betting and CFD firm which has expanded its reach considerably over the last two years. Focusing largely on the domestic British market. Privately owned rather than publicly listed, the company is smaller than CMC Markets or IG Index, but has a very strong reputation among loyal British retail traders.”
ETX Capital Broker Review - Safety
As an FCA regulated firm ETX Capital, or rather it’s parent company ‘Monecor’ is a solid option. More than just being regulated in the UK it is based in London with a British senior management team and can trace its lineage back to 1965. They’ve been around a long time and without any recent blips in fines or financial issues - a solid, safe choice.
ETX Capital Broker Review - Conclusion
You won’t go far wrong in choosing ETX Capital as your main spread betting broker. With a strong pedigree, solid risk management and FCA regulated you know your money is safe. With UK call centres and Account Managers and a London Office you know where to find them if you have problems!
Their spreads and available products are good, if not quite the best, so if you like working with a mid-level firm where you will get a bit more 1-on-1 attention should you desire it, and a pretty nice front-end then you may be willing to sacrifice the odd micro-pip on your spreads.