ETX Forex Broker

ETX Forex Broker - Comprehensive Information Guide

1. Broker Overview

ETX Capital, established in 2002, operates under the full name Monecor (London) Ltd. This London-based broker has evolved significantly over the years, initially focusing on mortgage bonds before expanding into forex and derivatives trading. The company is headquartered at 1 Broadgate Circle, London, United Kingdom, and is privately owned by its parent company, Monecor (London) Ltd, which has a long-standing presence in the financial markets since its founding in 1965.

ETX Capital primarily serves retail traders, institutional clients, and high-net-worth individuals, offering a range of financial instruments that include forex, CFDs, and spread betting. The broker has built a reputation for providing a user-friendly trading experience, competitive spreads, and a wide array of educational resources aimed at both novice and experienced traders.

Over the years, ETX Capital has achieved several milestones, including the launch of its proprietary trading platform, ETX Trader Pro, and the integration of the widely-used MetaTrader 4 platform. In 2023, the company underwent a rebranding to OvalX, reflecting its commitment to innovation and adaptation in the fast-paced trading environment. As an ETX broker, the firm continues to focus on delivering high-quality trading services and maintaining a strong client relationship.

2. Regulation and Compliance Information

ETX Capital is regulated by the Financial Conduct Authority (FCA) in the UK, holding the license number 124721. This regulation ensures that the broker adheres to stringent standards set forth by the FCA, which is known for its rigorous oversight of financial institutions. The broker also holds licenses from other regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), further enhancing its credibility in the global market.

The company operates under different legal entities depending on the region, ensuring compliance with local laws. For instance, clients in the UK are served by Monecor (London) Ltd, while those in other regions may interact with Monecor (Europe) Ltd.

ETX Capital implements robust client fund protection measures, maintaining segregated accounts to ensure that client funds are not mixed with the company's operational funds. Additionally, the broker participates in the Financial Services Compensation Scheme (FSCS), which provides compensation up to £85,000 in the event of insolvency.

To comply with anti-money laundering (AML) and know your customer (KYC) regulations, ETX Capital requires clients to verify their identity and provide relevant documentation during the account opening process. This commitment to regulatory compliance reinforces the safety and security of trading with ETX Capital.

3. Trading Products and Services

ETX Capital offers an extensive range of trading products, catering to diverse trading preferences. The broker provides access to over 60 forex currency pairs, including major, minor, and exotic pairs. In addition to forex, ETX Capital offers a variety of CFDs across multiple asset classes, including:

• Indices: A selection of major global indices, such as the FTSE 100, DAX 30, and S&P 500.
• Commodities: Trading options for precious metals like gold and silver, as well as energy products like crude oil and natural gas.
• Stocks: CFDs on thousands of shares from various exchanges, including US, UK, and European markets.
• Cryptocurrencies: A limited range of cryptocurrency CFDs, allowing speculation on popular coins like Bitcoin and Ethereum.

ETX Capital continuously updates its product offerings, adding new instruments based on market demand and client feedback. The broker primarily focuses on retail trading services, but it also provides tailored solutions for institutional clients, including white-label offerings and asset management services.

4. Trading Platforms and Technology

ETX Capital supports multiple trading platforms, ensuring that traders have access to the tools they need to succeed. The primary platforms offered are:

• MetaTrader 4 (MT4): A globally recognized trading platform that provides advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors (EAs).
• ETX Trader Pro: A proprietary platform designed for both novice and experienced traders, featuring an intuitive interface, customizable charts, and integrated market news.

Both platforms are available for web-based trading and mobile applications, ensuring that traders can manage their accounts and execute trades on the go. ETX Capital also allows for automated trading and API access, which is particularly beneficial for algorithmic traders.

The broker's servers are strategically located to enhance execution speeds and reduce latency, providing a seamless trading experience. ETX Capital's commitment to technology ensures that traders have access to the latest tools and features necessary for effective trading.

5. Account Types and Trading Conditions

ETX Capital offers a straightforward account structure, primarily featuring a standard trading account type. The conditions for this account include:

• Minimum Deposit: $100, making it accessible for new traders.
• Spreads: Competitive variable spreads starting from 0.6 pips for major currency pairs.
• Commissions: ETX Capital does not charge commissions on standard CFD trades.
• Leverage: Up to 1:30 for forex trading, with higher leverage available for professional clients.
• Minimum Trade Size: Starting from 0.01 lots.

The broker also provides a demo account option, allowing traders to practice their strategies without risking real capital. This is particularly beneficial for beginners looking to familiarize themselves with the trading environment before committing real funds.

6. Funds Management

ETX Capital supports a variety of deposit methods, ensuring that clients can fund their accounts easily. Accepted methods include:

• Bank Transfers
• Credit/Debit Cards (Visa, Mastercard)
• E-wallets (Neteller, Skrill)

The minimum deposit requirement for opening an account is $100, and there are no fees associated with deposits. Processing times for deposits are generally quick, with most transactions being credited instantly.

Withdrawals can be made using the same methods, with a minimum withdrawal limit of $100. ETX Capital processes withdrawal requests within 1 to 3 business days, depending on the method chosen. The broker does not charge any withdrawal fees, which is a significant advantage for traders.

7. Customer Support and Educational Resources

ETX Capital provides a comprehensive customer support system, available through multiple channels, including:

• Phone Support: Available during business hours.
• Email Support: Clients can reach out via email for assistance.
• Live Chat: A convenient option for quick inquiries.

The support team is multilingual, catering to clients from various regions, including English, Spanish, French, German, and more.

In terms of educational resources, ETX Capital offers a robust suite of tools for traders, including:

• Webinars: Regularly scheduled sessions covering various trading topics.
• Video Tutorials: Step-by-step guides to help traders navigate the platform and improve their skills.
• E-books and Articles: Informative resources that cover trading strategies, market analysis, and more.

These educational offerings are designed to equip traders with the knowledge they need to succeed in the financial markets.

8. Regional Coverage and Restrictions

ETX Capital operates globally, catering to a diverse client base. However, there are certain countries where the broker does not accept clients, including:

• United States
• Iran
• Iraq
• North Korea
• Japan

The broker's primary markets include the UK, Europe, and various other regions, with localized support and services tailored to meet the needs of traders in those areas. ETX Capital is committed to compliance with local regulations, ensuring that it operates within the legal frameworks of the regions it serves.

In summary, ETX Capital is a well-established and regulated broker that offers a wide range of trading products and services. With a focus on client education, competitive trading conditions, and robust technology, ETX Capital continues to be a preferred choice for many traders worldwide. As an ETX broker, the firm emphasizes transparency and security, making it a reliable partner for both novice and experienced traders alike.