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  • ETXCapital

  • Bonus: up to 50%
  • Options Payout: 70-85%
  • Rating: 8.3 / 10
Broker Name: ETXCapital
Platform: MarketPulse
Founded: 2007
Bonus: up to 50%
Return/Refund: 75-85% / 0-15%
ETXCapital Overview
No. Of Assests: 60
Regulated:   No
Demo Account: Yes
Minimum Deposit: 100
US Traders:   Not Accepted
Read Users Reviews

ETXCapital Review

ETX Capital is the trading name of Monecor (London) Limited, a company which was originally incorporated in 1965… yup ’65. In 2002 they launched a retail branch called TradIngdex, which was renamed ETX Capital in 2007. They offer the possibility to trade Forex, Indices, Equities, Commodities and more recent, Binary Options in a regulated environment. The regulatory agency is the British Financial Conduct Authority (FCA); Monecor’s Financial Services register number is 124721 and address: One Broadgate London EC2M 2QS. It is very important to note that binary options trading is not regulated by the FCA. In other words, the parent company is regulated but not all the services it has to offer.


Is ETX Capital a Scam?

Monecor (London) Limited are not only registered with the British FCA, but also regulated by them. That means the level of control is increased and the possibility of them being a scam is limited. Because of their regulation, they take complaints very seriously and traders’ funds are insured up to 50,000 GBP through the Financial Services Compensation Scheme. Please do not believe that if you lose up to 50K trading, someone will give your money back; this insurance covers traders’ funds in the event of ETX bankruptcy (or other limited instances). For further increased security, traders’ funds are held in segregated accounts in German or British banks. Bottom line is that we are dealing with a highly regulated, trustworthy brokerage… on paper, but it’s too soon to say how they will treat their binary options customers because as I said earlier, their binary options branch is very new.

Update September 2016: Please note that Binary Options are not a regulated product. The company (Monecor) offers many types of investment choices such as Forex, Contracts For Difference (CFD), etc. but binary options are not covered by British FCA regulation. For full details please visit the official FCA website.


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Editor’s Note – Why ETX Capital Sucks in 50 words

They confused me right from the start: on their videos they show the SpotOption 2.0 platform but when I accessed it I saw it was the MarketPulse platform. Ok, that’s not such a big deal but hey: if you switch platforms, replace the video as well. They also have MT4, overall very confusing.


Why ETX Capital Doesn’t Suck in 50 Words

We are talking about a regulated company, with years of experience. The regulatory agency is the British Financial Conduct Authority, which offers a higher level of protection and safety than say… CySEC. Don’t get me wrong, a CySEC regulated broker is better than an unregulated broker, but I’d rather go for one with FCA regulation. Update September 2016: Note that binary options are not regulated by the FCA. This information is present in several places on the ETX website so kudos for transparency.


Should I Open an Account with ETX Capital?

ETX Capital is not your regular binary options brokerage; they are primarily focused on other markets (like forex, equities, CFDs, etc.) and have just recently entered the binary options scene, probably because they’ve understood this is now a big market, with a lot of potential. The website is huge but binary options don’t get the attention they get from brokers that deal exclusively in binary options (duh) so the binary options part just contains some information about how to trade, what are binaries and a few videos explaining the mechanism for placing a trade. The best part is that you can open a binary options Demo account in just seconds. You don’t need to ask for one, or to deposit, or to send them documents; you simply fill in a few details and you are ready to go.

Education is a big part of their website (binary): they talk about the risk of trading, how to manage and reduce it, they offer a few strategies and explain some of the features of their platform. Speaking of platform, I find one feature a bit hard to use: choosing an expiry. Unlike the normal way of doing it, on ETX Capital’s platform you will find the expiry time next to the asset you want to trade, not above the chart. Ok, I don’t want to be a nitpicker, it’s just that for a moment I couldn’t find the expiry and it bothered me. Once you find it, you’ll know where it is. Overall I am not overly impressed with ETX Capital’s binary options section but since we are dealing with a huge company, I believe they are a better choice than a white label, copy-paste broker and just the fact that they are not flashy shouldn’t put you off.

Update September 2016: They’ve introduced a wide range of webinars, which is always a good thing for the newcomer binary options trader but also for more advanced users. Also they feature up to date Weekly market commentary, which is due to the fact that ETX is primarily a Forex broker and usually these brokers care for such details.


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ETX Capital Complaints

So far, no major complaints have surfaced regarding their binary options service but their Forex side has a few unsatisfied clients. However, almost all Forex brokerages have complaints and we are not here to analyze anything but the binary options branch. If complaints will start piling up, we will update this review accordingly.

Update September 2016: Surprisingly this broker still doesn’t have major complaints on the internet but if you are a new client you should use caution until you get to know the broker. This applies to all brokers out there.


ETX Capital Bonus

They currently offer bonuses for their ETX MT4, ETX Trader and ETX TraderPro platforms. None of these allow binary options trading, therefore you should contact their support for a personalized bonus offer for binary options. However there is no guarantee you will get one.


ETX Capital Withdrawal

Withdrawals are extremely fast (1 working day processing time) and can be performed via bank/wire transfer, major credit cards (except AMEX) and online banking. The withdrawal will be made through the same method used for depositing. If you withdraw more than 50 USD, ETX will not charge a fee.

Update September 2016: ETX will offer five (5) monthly withdrawals free of charges for any sum above 100 USD. They accept all major credit cards, wire transfers, Skrill, Neteller and the general processing time is one (1) day which is pretty fast (additional 3-5 days will pass until the money reaches you).


ETX Capital Extras

The huge experience ETX has on the market can be considered an extra, as well as the solid FCA regulation of the owning company, Monecor (note that binaries are not regulated by the FCA). As for trading, the normal features are available, without anything extraordinary.



ETX Capital Ratings

User Friendly 17/20

The platform is pretty clean and straightforward. The drop down list of expiry times is located next to each asset and I don’t consider it the best place but it’s not a major problem once you get used to it.

Update September 2016: The only available language is English. Sure, this is the “official” language of the internet, but I guess more options should be available. 


Number of Assets and Expiry Times 16/20

They offer 18 currency pairs, 7 commodities, 11 indices and 25 stocks, which is not the most I’ve seen but not the least either. The expiry times differ from asset to asset and should be checked individually.

Update September 2016: 60 seconds trading is now available with ETX Capital. Apart from that, they have 1 minute and 30 seconds, 2 minutes, 3 minutes, 5 and 15. Long term options are also available.


Commissions, Support and Effective Return 16/20

There are no commissions for opening an account (which is normal for any broker). A fee is only charged by ETX Capital if you withdraw less than 50 USD/GBP/EUR but this fee is not specified. Withdrawals above this sum do not incur a fee charged by ETX but the bank/payment processor will charge a fee according to their Terms and Conditions. The Live Chat doesn’t exist but most of their international phone numbers are free and of course, they can be contacted by email. The effective return goes as high as 81% for normal High/Low options and can reach 100% for Spread High/Low and Touch/No touch.

Update September 2016: The first five (5) withdrawals of the month are free (if they are above 100 USD) and consequent withdrawals incur a processing fee. Live Chat support is still not available.


Deposit, Payment and Bonus 18/20

Minimum deposit is 100 USD/EUR or 10,000 JPY. Deposits and withdrawals can be made through major credit/debit cards (excluding AMEX), wire transfers and online banking (these methods may differ depending on regional restrictions). The processing time for payments is very fast: 1 working day and additional 2-3 working days must pass until the money reaches you. There is no general bonus system (one may be granted depending on individual circumstances but we are not aware of it).


Website Extras 11/20

ETX Capital is one of the oldest brokerages around, regulated by the FCA but although these are major advantages, the website or platform does not stand out with something extraordinary.


ETXCapital Overall Ratings = 83/100

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