Etx Capital Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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Unable to withdraw. $5,000 has been required to unblock my account. After several days of paying the money, the customer service said the third-party company would handle my refund. The other day, I was told that I have to pay N$ 50,000 margin to make sure. But after that, risk fee of 100,000 was required....
Etx Capital, now rebranded as OvalX, has garnered mixed reviews in the trading community, with a history dating back to 1965. While some users appreciate the platform's extensive range of tradable assets and regulatory backing from the FCA, others express concerns about withdrawal issues and hidden fees. This review synthesizes various perspectives to provide a comprehensive overview of Etx Capital.
Note: It is essential to recognize that Etx Capital operates under different entities in various regions, which may affect user experience and regulatory protections. This review aims to provide a fair and accurate assessment based on multiple sources.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 7.0 |
| Customer Service and Support | 5.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 7.0 |
| User Experience | 6.5 |
| Overall Experience | 6.0 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert opinions, and factual data.
Founded in 1965, Etx Capital (Monecor London Ltd.) has solidified its presence in the online trading arena, particularly in CFDs and spread betting. The broker operates under the regulation of the Financial Conduct Authority (FCA) in the UK, providing a level of security to its users. Etx Capital offers trading through two primary platforms: the proprietary Etx Trader Pro and the widely-used MetaTrader 4 (MT4). Traders can access a diverse range of assets, including forex, commodities, cryptocurrencies, and indices.
Etx Capital is regulated primarily by the FCA in the UK, which is known for its stringent oversight. However, it does not accept clients from the United States, Canada, or other specific jurisdictions. This regulatory framework enhances user trust but may limit access for some potential traders.
The broker supports multiple currencies for deposits and withdrawals, including GBP, EUR, and USD. Notably, there are no fees for deposits, and the first five withdrawals each month over £100 are also free. However, a fee of £10 applies to subsequent withdrawals or if the withdrawal amount is below £100.
To start trading with Etx Capital, a minimum deposit of £100 is required, making it accessible for beginner traders. This low barrier to entry is complemented by the availability of a demo account for those looking to practice trading strategies without financial risk.
Currently, Etx Capital does not prominently feature any bonuses or promotional offers, which may be a drawback for traders seeking incentives to join the platform.
Etx Capital boasts an extensive selection of over 5,000 tradable assets, including more than 60 forex pairs, various commodities, and cryptocurrencies like Bitcoin and Ethereum. This wide range allows traders to diversify their portfolios effectively.
Etx Capital operates on a commission-free model, with costs embedded in the spreads. The average spread for major forex pairs like EUR/USD starts at 0.6 pips. However, some users have reported high overnight financing fees, which can affect long-term trading profitability. Additionally, the broker charges a £25 inactivity fee after six months of no trading activity.
Etx Capital offers leverage up to 1:30 for retail clients, in line with ESMA regulations. This leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the risk of significant losses.
Traders can choose between Etx Trader Pro and MT4. The proprietary platform is designed for ease of use, while MT4 offers advanced features for experienced traders, including automated trading capabilities.
As mentioned, Etx Capital does not accept clients from several countries, including the United States and Canada. This limitation may deter some potential traders looking for a robust trading platform.
Etx Capital provides customer support in multiple languages, including English, German, Spanish, and Mandarin. However, user reviews indicate that the customer service experience can be inconsistent, with some users reporting long wait times or difficulties in resolving issues.
| Criteria | Rating (out of 10) | Comments |
|---|---|---|
| Account Conditions | 6.5 | Low minimum deposit, but limited account types. |
| Tools and Resources | 7.0 | Good educational materials, but lacking in-depth market analysis tools. |
| Customer Service and Support | 5.5 | Mixed reviews on responsiveness and effectiveness. |
| Trading Setup (Experience) | 6.0 | User-friendly platforms, but some report issues with execution speed. |
| Trustworthiness | 7.0 | FCA regulation provides a safety net, but withdrawal issues reported. |
| User Experience | 6.5 | Generally positive but with notable concerns regarding customer support. |
| Overall Experience | 6.0 | Competitive offerings but marred by user complaints. |
In conclusion, Etx Capital presents a viable option for traders seeking a regulated platform with a wide range of assets. However, potential users should be cautious of the reported withdrawal issues and varying customer service experiences. Overall, this review serves as a comprehensive guide for anyone considering trading with Etx Capital in 2025.
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