London based ETX Capital is a well-known financial company providing institutional, HNI and retail customers its multi-asset trading platform in market derivatives, by allowing customers to arbitrage their financial spread through various products using contract for differences. ETX Capital is the trade name of London based, Monecor (London) Ltd.
Incorporated as Monecor Ltd., in 1965, the company became a member of LSE, the LondonStockExchange. In 2002, Monecor (London) Ltd., launched its retail derivatives division, named TradIndex. Later, in 2007, this group was acquired by a Joint Venture between JRJ Group based in UK and BXR Group based in Netherlands.
The JV relaunched TradIndex with a new brand name, ETXCapital. ETX stands for Electronic and Telephonic trading and Execution, an acronym for the services that the trade name offers. Its offerings include trading in Indices, Equities, Forex and Commodities.
Is the platform a scam?
Since ETX Capital is authorised and regulated by the Financial Conduct Authority having Financial Services Number 124721, which is also the authority to be approached in case of any complaint certainly proves that it is not a scam.
Trading platforms, Trading Options & Software Features
ETX Capital offers three main trading platforms options like Trader Pro, MT4 and Binary. It offers traders a choice 3 different specialised platforms, permits them to select that best suits their trading style;
- ETX TraderPro – ETX TraderPro offers you customizable trading charts with tight spreads. As an accomplished trader, you get the opportunity to accept a greater level of risk, as you seek significant returns.
- ETX MT4 – In the ETX MT4 platform, traders can bring downloaded and automated expert advisories (EAs) to the hosted MT4 platform.
- ETX Binary – ETX Binary is ETX Capital’s latest binary options trade platform, offering a wide range of expiry times, ranging from a minute all the way to a month.
Taking Care of Customers
Customer orientation is the focus in its approach to all its endeavours. With the help of its multilingual customer service team, it is successfully able to answer customer’s queries. ETX Capital also offers answers to frequent asked questions in over 15 international languages, including German, French, Spanish, Mandarin, English, Greek, Czech and Polish.
Higher opportunity through controlled spread
The smaller the distance a market in question has to move in order to make a difference between profit and loss, the spread has been controlled.
ETX Capital offers higher leverage rates which are generally available at 100/1 for certain products and can go as high as 400/1 on some MT4 products. These rates offer traders potentially favourable profit-making opportunities, although it must be noted that by increasing your leverage you will also be increasing your trading risk.
Bonus and promotion offers
ETX Capital is regulated and authorized by the UK Financial Conduct Authority, and accordingly, ETX Capital has developed appropriate procedures to safeguard customers’ money and investments. Daily security checks, in addition to regulatory checks are conducted to keep client funds separate from company money.
Choice of Markets
ETX Capital offers you access to many trade markets, enabling you to trade in equities, over 50 forex pairs, commodities and worldwide financial indices.
Mobile Apps
Quantum of operational ease has emerged as the new preference for every investors who want the flexibility to do trade at any place and time and this requires a modern application tool which are available nowadays that carry many advanced features which are compatible with the technology platforms under developed by most of the trading firms. ETX too has a wide range of trading apps suitable for modern devices or gadgets.
In today’s age, traders are required to trade and take positions in real-time, be it at their workstations or when they are on the move. To that extent, ETX Capital offers a complete range of mobile apps to ease trading across three mobile platforms, including Android, iPad and iPhone devices.
Account Types
ETX Capital offers right spreads on a range of products available to trade, including indices, commodities, stocks and forex pairs.
Payment
Offering most of the popular payment platforms like Skrill, Neteller, China Union, Sofort and GiroPay, they can be used for funds transfer. Also wire/Bank, online method or credit cards can be used for the payment purpose.
Regulation
ETX Capital is authorised and regulated by the Financial Conduct Authority: Financial Services Number 124721. The FCA offers strict rules covering the conduct of financial and business adequacy, based on the considerations given below.
- ETX Capital ensures that it has adequate daily regulatory capital by calculating financial resource requirements every day.
- ETX Capital segregates customer funds by placing the client’s money in an account that is separate from its own money. If there is a default on the part of ETX Capital, the debts are not to be paid through these funds. On the same lines, should ETX Capital get an overdraft, it cannot use the client’s funds for reducing the overdraft. For a professional client, the above rules don’t apply, and such professionals bear the risk of being a creditor (unsecured) of ETX Capital.
- At the closing of every working day, ETX Capital rebalances the accounts in its segregated funds, ensuring that the liquidity of each client is completely segregated.
- ETX Capital’s policies ensure that the client’s money is maintained in accounts that are regulated by various European Union financial institutions.
- In the unfortunate event of liquidation of ETX Capital, and where there is a deficiency in a client’s bank account, then the client is covered by FSCS, otherwise known as the FinancialServicesCompensationScheme. In such a scenario, the client can expect a compensation or pay-out of £50,000.
Demo Account
To give the first-hand experience to potential investors Demo account is available. To identify and understand the user friendliness of various platforms one has to sign up the account and can experience the benefits.
Countries available
ETX Capital offers customers services in Mandarin, English, Polish, Greek, German, Polish, Spanish, French and Czech. Additionally, it offers its site in 16 local languages, such as Spanish, Romanian, Greek, Turkish, Arabic, Portuguese, Russian, Italian, German, Italian, Danish, Chinese Mandarin, Czech and Polish, apart from French and English.
Awards and honours
The company has many awards to its credit which amply shows its strength.
- UK Forex Awards Best Forex Trading Tools and Software 2013
- Money AM Best Online Charts 2012
- Shares Awards Best Futures and Options 2011 and 2012
- Value for Money, Investment Trends 2011
- Number 1 for overall customer satisfaction Investment Trends 2011
- T2W Bronze Award 2010
Verdict
ETX capital has been conferred with various awards since 2010 which in itself is the testimony and reliability of its functioning. It not only complies with the regulations laid by FCA but also has invested in various technological innovations to create a secure investment climate. Though all the financial instruments are subject to various risks and education is the best remedy to thwart such uncertainty.