It is made up of the difference between the buy and sell prices of a product often referred to as ‘pip‘. bitmex review The process bar at the top of each step gives a minor indication of progress, but it consists of numerous steps, while most brokers have a one-page sign-up procedure. I rank trading costs among the most defining aspects when evaluating a Forex broker, as they directly impact trading profitability. Please note that the information on our website is for informational purposes only. To start the process of opening an account with ETX Capital you can visit their website here. ETX Capital supports a wide range of languages including English, French, Spanish, German, Polish, Czech, Greek and Mandarin.
MT4 supports algorithmic trading and has an embedded copy-trading service but comes with higher trading costs. ETX Capital provides over 5,137 different trading products, including more than 60 currency pairings. We’ve summarised all of the different types of products offered by ETX Capital below, along with comparative instruments from IG and XTB.
What’s the ETX Capital trading experience like?
Then you have to upload a document to verify your identity and your residential address. These documents can be quickly loaded on the website by dragging and dropping them on the form. Funds can be deposited and withdrawn on the ETX Capital platform through several methods. The minimum deposit amount on accounts is £250, or it is equivalent to your chosen currency. The application looks just the same as the official website with the same controls and functionalities. All kinds of trade types and offers are the same on the mobile platform, also are the account management features and trade history.
OvalX / ETX Capital: Key Facts
It has several high-quality tools, ensuring that beginner traders can understand the fundamentals of trading financial markets. Brokers like ETX Capital offers all their clients permission to access top competitive prices in more than 5,000 several markets as well as balanced management of their customer services. Though the platform has many supporters or fans from all over the countries across the world, its main headquarters is in London. ETX Capital is the popular name for Monecor in London, a big company behind ETX Capital. Both the platforms are available for mobile usage in IOS and Android. ETX Capital allows the usage of various trading strategies including algorithmic trading.
ETX Capital also offers spread betting and binary options trading, which is considered to be illegal in the US and several other parts of the world. ETX Capital has more than a decade worth of experience in the financial markets and has been a mainstream financial company since its inception in 2002. With over 5,000 markets and all its capabilities, ETX Capital may very well be the best stock broker around.
There is no specific information on OvalX’s website on the practice of scalping. Scalping is the act of buying and selling trading products within unusually short timeframes, with the aim of executing trades with narrow spreads and minimal pips. Despite the lack of guidance, traders should do their own research.
Before you trade, AskTraders.
ETX Capital pays attention to the security of the customers’ funds and keeps them on the segregated bank accounts which are rebalanced at the end of each trading day. Therefore, ETX Capital is a highly reliable company that deals in top-quality financial services without affecting the trust or confidence of their clients in any manner. While OvalX seems like a market maker, it is actually an online brokerage service that connects traders with market makers. Brokers like OvalX are third-party mediums people can use to access the products listed by such market makers. This FCA and FSCA-regulated broker’s parent company has over 50 years of industry experience offering trading products and financial services.
ETX TraderPro is conveniently available in web and mobile versions and comes with a news feed to keep you up-to-date with all the happenings in the market. All financial transactions take place in the secure back office of ETX Capital, but I find the limited choice of payment processors disappointing. At the time this review of ETX Capital was conducted, neither bonuses nor promotions were available.
- This broker is also regulated by the official regulatory body in the United Kingdom, the FCA.
- Contracts-for-difference (CFDs) is one of the products available with OvalX.
- In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor.
- Traders who would like to try the demo account only need to sign up at the website.
- While looking at the ETX Capital demo account, traders will see precious metal commodities, such as silver, platinum, copper and gold, and a range of energy assets, such as gas and crude oil.
The maximum trading requirements differ according to the trader and the instrument. ETX Capital has different display styles that are accompanied by a broad range of trading tools that meets a trader’s requirement. It is possible to do your research and save the settings just as you want. No stress, it’s just a click on the chart button on the particular market. Right there, you can select the Charts window and click on the kind of selection and style you want. The Financial Conduct Authority authorizes it under the Financial Services Register.
Learn to Trade
To help with the more difficult to understand the terminologies of online trading is an adequate glossary section on their website. Traders who choose ETX Capital can expect to enjoy interesting reading materials that will improve their knowledge in binary trading. Even though it leaves some space for improvements, the educational section is a good place to start. FAQ section is very useful and detailed, as it is divided into several sections.
Specifically, they categorize general information into eBooks, Platform Tutorial Videos, Webinars, and Courses. Their quality articles and webinars extensively cover technical analyses, understanding trading tools, and even trading fp markets review strategies. With this plethora of educational resources, novice traders can be confident of getting a proper introduction and guide to the ETX TraderPro platform and the online trading market at large.
However, it does charge a commission on CFD shares, and there are overnight fees and swap rates as well. Although ETX Capital is the choice of professional traders, the brand provides a range of educational materials for traders who are just starting out. The materials include seminars, live webinars, trader courses and road shows. You will then be questioned about your financial background and trading skills. When this information is completed, there will remain two more steps for the trader to complete.
ETX Capital fees: How much does it cost to trade?
None of these UK brokers have deposit fees, except in exceptional cases of bank transfers. All have free withdrawal allowances, after which tailored charges apply. Margin trading is risky, and a broker can close your position when your account balance drops under a defined percentage of the required margin for your open trades. OvalX sets margin requirements based on the asset category and instrument you trade.
