ETX Capital is a well-established UK-based online broker offering Contract for Difference (CFD) and Spread Betting services to a global client base. Regulated by the Financial Conduct Authority (FCA), ETX Capital provides traders with access to a wide array of financial markets, including forex, indices, commodities, shares, and cryptocurrencies. Known for its proprietary TraderPro platform and support for MetaTrader 4, ETX Capital caters to both novice and experienced traders looking for advanced trading tools and competitive pricing.

Key Features

• Diverse Market Access: Trade over 6,000 markets, including Forex (majors, minors, exotics), global Indices, Commodities (precious metals, energies, softs), Shares (UK, US, European), and Cryptocurrencies (via CFDs).
• Multiple Trading Platforms: Offers two primary platforms:
  • TraderPro: ETX Capital’s proprietary platform, known for its intuitive interface, advanced charting tools, customisable layouts, and integrated market news.
  • MetaTrader 4 (MT4): A popular choice for many traders, providing robust charting, expert advisors (EAs) for automated trading, and a familiar environment.
• Spread Betting & CFDs: Provides both avenues for speculating on market price movements. Spread Betting is tax-efficient in the UK, while CFDs offer global appeal with diverse market access.
• Competitive Spreads: Offers tight and competitive spreads across various asset classes, helping to reduce trading costs.
• Educational Resources: A comprehensive learning hub with webinars, trading guides, platform tutorials, and market analysis to help traders enhance their skills and knowledge.
• Robust Regulation: Fully authorised and regulated by the Financial Conduct Authority (FCA) in the UK, ensuring a high level of client protection and operational transparency.
• Responsive Customer Support: Provides dedicated customer service via phone, email, and live chat, often in multiple languages.

Pros

• Strong Regulatory Compliance: FCA regulation provides significant peace of mind regarding fund security and fair trading practices.
• Excellent Platform Choice: The combination of the user-friendly TraderPro and the powerful MT4 caters to a broad spectrum of trading preferences and skill levels.
• Extensive Market Range: Access to a vast number of instruments ensures ample trading opportunities across different asset classes.
• Competitive Pricing: Generally offers tight spreads, especially on major forex pairs, which can be advantageous for active traders.
• Comprehensive Education: The educational content is valuable for both beginners learning the ropes and experienced traders looking to refine strategies.
• Segregated Client Funds: Client money is held in segregated bank accounts, separate from the company’s operational funds, enhancing security.

Cons

• Geographical Restrictions: Services are not available in all countries, most notably the United States.
• CFD and Spread Betting Risk: As with all leveraged products, CFDs and Spread Bets carry a high level of risk and can result in losses exceeding initial deposits.
• Limited Direct Share Trading: Focuses primarily on CFDs and Spread Betting, so it does not offer direct stock ownership.
• Minimum Deposit: While entry-level, the minimum deposit might be higher than some absolute beginner-focused brokers.
• Inactivity Fees: An inactivity fee may be charged after a period of no trading activity, which can affect long-term holders or inactive accounts.

Pricing

ETX Capital’s pricing model is primarily based on spreads for most CFDs and Spread Bets, with commissions typically applied to share CFDs.

• Spreads: Variable spreads apply across all markets. For major forex pairs like EUR/USD, spreads can be as low as 0.6 pips. Indices and commodities also feature competitive spreads.
• Commissions: Share CFDs usually incur a commission per trade, which varies depending on the market (e.g., a percentage of the trade value with a minimum charge for UK and US shares).
• Overnight Financing: Positions held open overnight (past a certain time, typically 10 PM GMT) will incur an overnight financing charge or credit, based on interbank rates plus/minus a small percentage.
• Minimum Deposit: The minimum initial deposit is typically around £100 or currency equivalent, making it accessible for many traders.
• Inactivity Fee: An inactivity fee (e.g., £25 per month) may be charged if an account remains dormant for an extended period (e.g., 12 months) without any trading activity.
• Deposit/Withdrawal Fees: ETX Capital generally does not charge fees for deposits or withdrawals, though third-party payment providers might have their own charges.