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An Honest ETX Capital Review in 2022

Last updated 16th May 2022
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.54% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

ETX Capital is a broker service that initially specialized in mortgage bonds before expanding to stocks and cryptocurrency. This review explores their zero commission trades, fees, available trading options, and much more.

4/5 Star rating
Trade with zero commission
Award-winning TraderPro trading platform

ETX Capital was founded in 1965 by Monecor London Ltd. The broker offers CFDs and spread betting with options to purchase cryptocurrency. Two platforms are provided: ETX TraderPro and ETX MT4. They give users access to forex, shares, commodities, cryptocurrencies, and CFD trading.

Other features include:

  • Access to a demo account for learning the principles of trading

  • Two trading platforms that feature a user-friendly design

  • 24/7 live customer support

  • High rating on TrustPilot of 4.4 out of 5

  • Available on iOS and Android devices

  • Zero commissions on trades

ETX Capital Overview

💼 Provider Type:Broker
💸 Minimum Deposit:$100
💰 Trading Fees:0.5-2% commission on crypto
💰 Deposit Fees:None
💰 Withdrawal Fees:None
💰 Management Fees:Varied
🔀 Minimum trade order£1
⌛ Withdrawal Timeframe:1 - 5 business days
#️⃣ Number of Cryptocurrencies Supported:5
#️⃣ Number of Crypto Pairs Supported:25
💱 Top supported Cryptocurrencies:BTC, ETH, XRP, USDT, ADA
📊 Leverage:Varied
📱 Native Mobile App:Yes
🖥️ Free Demo Account:Yes
🎧 Customer Support:Facebook Messenger, live chat, and email
✅ Verification required:Yes
📈 CFD AvailableYes
📊 Software:Website, web app, mobile app
⚽ Social Trading:Yes
✂️ Copy Trading:Yes
👮‍♂️ RegulatorsUK Financial Conduct Authority, Cyprus Securities and Exchange Commission, and the Financial Sector Conduct Authority

Pros and Cons of Using ETX Capital

Pros

Financial Conduct Authority regulates the platform, ensuring your money is safe
Straightforward process when creating an account
Brilliant educational tools that teach the basics to new investors
ETX Capital provides access to cryptocurrency, stocks, and CFD trading
ETX professional client services let users contact an expert to make better investment decisions

Cons

The platform is not ASIC regulated
Average FX fees
Basic Research tools

ETX Capital Cryptocurrencies and Trading Options

What cryptocurrencies can you trade on ETX Capital?

The top trading coins on ETX Capital are Bitcoin, Ethereum, Ripple, and Cardano. ETX Capital includes the most popular cryptocurrencies with a few low market cap options. Their top coins are outlined below:

  • Bitcoin (BTC): BTC/USDT, BTC/ETH, BTC/GBP, BTC/XRP, BTC/ADA.

  • Ethereum (ETH): ETH/USDT, ETH/BTC, ETH/GBP, ETH/XRP, ETH/ADA.

  • Ripple (XRP): XRP/GBP, XRP/BTC, XRP/ETH, XRP/ADA, XRP/USDT.

  • Tether (USDT): USDT/GRP, USDT/BTC, USDT/ETH, USDT/XRP, USDT/ADA.

  • Cardano (ADA): ADA/USDT, ADA/BTC, ADA/ETH, ADA/XRP, ADA/ GBP.

Different Trading Options Offered by ETX Capital

Spot markets, CFDs, and leverage trading are the main trading options on ETX Capital. Spot markets are assets that are traded immediately. For example, you can trade GBP for BTC, and once the trade executes, you’ll see the BTC in your account wallet.

CFDs are Contract for Difference Trading meaning users can invest in an asset by engaging in a contract between the broker and themselves. Also, CFDs provide tools to trade with additional capital to maximize profits.

Top cryptocurrencies traded on ETX Capital are:

Can I Trade With Leverage on ETX Capital?

ETX Capital lets users place leverage trades to purchase more coins than their budget allows. It’s a great tactic to increase profits because traders can access more funds. However, leverage trading carries additional risks, and uneducated traders can get liquidated fast. Therefore, beginners should avoid leverage trading until they grasp the concepts.

The user interface will showcase the liquidation number, making it easier to decide if the trade is worth executing. Moreover, ETX Capital allows up to 50x margins on BTC, ETH, LTC, XRP, and BCH.

What Are the Spreads?

The spread is the difference between the sell and buy prices on a cryptocurrency. Often brokers will provide a floating spread that shows the best current prices. The spread for Bitcoin is +10 and for Ethereum is +8 spread. Also, the most popular spreads start from 0.6 pips for forex trading.

Fees, Limits, and Payment Options on ETX Capital

What Are the Deposit and Withdrawal Fees, Limits, and Speeds?

ETX Capital offers commission-free pricing across all its platforms. The Trader Pro fees are much smaller than the MetaTrader but have a more complicated user interface. Therefore, we advise using Trader Pro to minimize the fees you’ll pay.

The platform doesn’t apply any fees when purchasing cryptocurrency. Instead, a small fee of 0.5% will be applied when you sell your position. Moreover, ETX Capital doesn’t charge when withdrawing funds, for inactive accounts, or forand depositing.

Deposit Methods

ETX Capital requires a minimum deposit of 100 GBP to open a new account. The processing speed is instant, so you can begin trading instantly. These are the deposit options the platform offers:

  • Bank Wire Transfer

  • China UnionPay

  • Neteller

  • Skrill

  • Credit and Debit Cards

  • Giropay

Withdrawal Methods

Withdrawing funds from your account is a straightforward process that takes seconds to initiate. You can use the same deposit method, which means you won’t need to fill in the details again. Withdrawing has no fees unless you try to take out less than £100. The transfer times can take anywhere from 1-5 days.

How Much Are ETX Capital’s Fees and Commissions?

There are no commissions when trading CDFs on ETX Capital. However, the platform applies a small fee on cryptocurrencies of 0.5-2%, depending on the trade size.

ETX Capital’s Trade Sizes and Limits

The minimum trade limit for cryptocurrency is £1 with no maximum limit. Users can place a trade of any size as long as they have enough funds in the account.

ETX Capital Trading Platform

What Devices Can I Use ETX Capital On?

You can use ETX Capital on multiple device types. We’ve outlined the various platforms below:

  • Desktop: ETX Capital is accessible on a Macbook or Windows PC. The charts are much easier to read, and you can access more information faster.

  • Smartphones/Tablets: Users can download the ETX Capital app on Android or iOS devices. The user interface is straightforward to use and friendly to new investors.

Can I Use ETX Capital in Any Country?

ETX Capital is an international broker that operates in multiple countries worldwide. Their main users are from the United Kingdom and Europe. Before using the platform, take note of your country’s laws on cryptocurrency, as they can be banned. Here are the top 4 countries that use ETX Capital:

  • England

  • Cyprus

  • Ireland

  • Russia

Is ETX Capital Available in My Language?

ETX Capital supports several languages to meet the needs of its customers. Their official site and FAQ pages have been translated into English, Mandarin, German, Czech, Polish, and Spanish. Also, customer support works in these languages to provide personalized help.

The top languages on the site are:

  • English

  • Spanish

  • Mandarin

  • German

How Easy Is It to Use ETX Capital?

ETX Capital is generally quite easy to use once you check out their educational resources. Purchasing cryptocurrency is a straightforward process thanks to the user-friendly interface. Also, the smartphone app is reliable and lets customers invest on the go.

Furthermore, the site offers multiple trading platforms depending on your skill level. The ETX TraderPro application provides minimum fees and information to make favourable trades. Moreover, creating an account takes minutes, and the deposit/withdrawal process is straightforward.

Key Features

The platform has impressive features that make trading more accessible to consumers. Let’s look at some of the key features ETX Capital offers.

ETX TraderPro

As the name suggests, this platform is geared towards experienced traders. Therefore, it provides comprehensive access to the financial markets and tools to help trading. The sophisticated charting tools allow you to simultaneously view numerous charts in different time frames.

Furthermore, trading becomes easier because new accounts can access historical data and volume indicators. Moreover, the platform has a news feed that provides essential information on what’s happening in the investment world.

Mobile Application

The smartphone app is available to download on iOS and Android devices. It provides access to CFD stock trades, including Apple, Tesla, Amazon, and more. The app is easy to navigate and lets users switch between the trading section, cryptocurrency, and news.

Moreover, the ETX Capital application lets you see your portfolio and make trades from anywhere in the world. Also, it’s free to download with no hidden charges.

Analysis Section

Most brokers don’t feature an analysis section, differentiating ETX Capital from competitors. Here you can stay informed on the regular market news, investment opportunities, and analysis on stocks. The analysis section gets updated regularly so readers can get the full scoop on the market without going elsewhere.

Security and Regulation

Is ETX Capital Safe?

ETX Capital takes the necessary precautions to provide the best security for its clients. They hold funds in a segregated account from company funds, making it near impossible for hackers to steal your funds. Also, the UK entity part of the platform has strong relations with the Financial Services Compensation Scheme.

Is ETX Capital Regulated?

ETX Capital is regulated by the UK Financial Conduct Authority, Cyprus Securities and Exchange Commission, and the Financial Sector Conduct Authority.

Do I Have to Verify My Account with ETX Capital?

Users of ETC Capital will need to verify their identity to use the platform. This requires filling in your details like tax code, name, and proof of residence. Also, you’ll need to verify your identity by uploading a picture of your passport, ID card, or drivers license.

Extra Information

Educational Resources

The website features a section for market news and analysis. The market news presents users with information like average earnings and job rates in the UK. On the other hand, the analysis section provides insights about stocks/cryptocurrencies and investment opportunities.

Tools and Charting

The ETX TraderPro has an advanced charting tool that lets users see the required information to make trades. Also, the ETX MetaTrader 4 has multiple technical indicators and drawing tools.

Customer Support

ETX Capital provides amazing customer support with multiple options. Users can choose to use Facebook Messenger, live chat, and email. The live chat provides fast responses and is excellent for answering small inquiries. However, if you need detailed support, sending a message will let the support team thoroughly investigate your issue.

How to Buy and Sell Cryptocurrency on ETX Capital

How to Buy Crypto On ETX Capital

Buying cryptocurrency is a straightforward process with ETX Capital. Follow these steps to purchase your first coins on the platform.

  • Step 1 - Visit ETX Capital's official site & Sign Up Go to the official ETX Capital website to create an account. Verify your account so there are no restrictions.

  • Step 2 - Visit "Cryptocurrencies" page

Hover over the “Markets” section with your cursor and select “Cryptocurrencies”.

  • Step 3 - Go to the trading interface

You should see a button to “Open live Account”, which takes you to the trading interface.

  • Step 4 - Make a purchase

Select the pair you’d like to trade. Next, input the number of coins you want to purchase and hit “Buy”.

  • Step 5 - Start trading

Now the order is active, and you’ll see the new coins in your balance.

How to Sell Crypto on ETX Capital

Selling crypto is similar to the buying process. Take these steps to sell your coins:

  • Step 1: Head over to the trading interface and select the trading pair.

  • Step 2: Configure your order type: market, stop limit, or margin.

  • Step 3: Next, you’ll want to input how much crypto you’d like to sell.

  • Step 4: After, review the order and once you’re happy, press the “Sell” button.

  • Step 5: Once the order is finished, the funds will enter your account.

How to Open an Account With ETX Capital

Here are the steps to open an account with ETX Capital:

  • Step 1: Visit the official ETX Capital website and click “Create Account”.

  • Step 2: A window will pop up requiring your country of residence and where you pay taxes. Once you fill out this section, you’ll be able to provide information such as your name and address.

  • Step 3: Afterward, ETX Capital will require information about your investment history, which you must fill out.

  • Step 4: Now, you’ll have access to your trading account, and the last step is to deposit funds. Also, we recommend verifying your identity to lift withdrawal restrictions.

Is there an alternative to crypto brokers?

Yes, there are many more ways to trade cryptocurrencies such as using cryptocurrency robots. Check out some of our reviews for the best trading robots:

Is there an alternative to ETX Capital?

1
eToro
Minimum Deposit
$200
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Atani
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Popular among traders
Fast system for trading
Popular for beginners
3
Coinmama
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Easy to use tool
High profit potential
Offers Phone Support

Final Thoughts

Traders choose ETX Capital because of the reputation they’ve built over 50 years. The platform offers multiple investment options such as cryptocurrency, forex, stokes, and CFD trading. In addition, the user interface is professional and features the tools a trader needs like charting, drawing, and technical indicators.

Furthermore, the analysis provides valuable insights into the market and can help you decide which coins to purchase. Also, new investors have access to the educational resources that teach cryptocurrency trading.

Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.