ETX Capital is one of the oldest FCA Authorised & Regulated Forex brokers, founded in 1965. They now go by the name OvalX.
Owned and operated by Monecor (London) Limited, they are located at: 26 Finsbury Square, London EC2A 1DS, United Kingdom. Contact phone number is +442073921434, and their email address is: [email protected]. Official website is at: https://www.etxcapital.com/.
ETX Capital Review
Our review of ETX Capital finds, that clients have a choice of using either the MetaTrader 4 platform, or the custom ETX TraderPro platform. Spread Betting, CFD’s Forex, Shares and Crypto Currencies are all available on hundreds of underlying assets.
The difference between a great broker and a mediocre company, is how much they invest in their trading software. It is safe to say, that many clients investing with this broker are there because of the Trader Pro platform. We noticed during our review of this broker, that their markets commentary and news wire service is up to date. A major benefit of using an established Forex broker like ETX, is that they have a strong support team.
Minimum deposit for a new trading account is only $100. You can also setup a free demo trading account, alongside your regular account.
ETX Capital License & Regulations
When the scam broker investigator looks at a Forex broker to determine if it is a scam or a legitimate broker, we want to know if they are authorised by the FCA in the United Kingdom.
- United Kingdom: ETX Capital is licensed and authorized by the FCA, with Financial Services Register number 124721. They are also a member firm of the London Stock Exchange.
- Europe: Monecor (Europe) Ltd. is licensed and regulated by CySEC license number 096/08.
ETX Capital takes complaints seriously due to their FCA license, and they use an external Financial Ombudsman Service to resolve any issues traders may have. Traders at ETX Capital receive a higher level of protection with their accounts, because of the Financial Services Compensation Scheme.
Trader’s funds are insured up to £50,000. Accounts are all segregated and held in German or British banks, with investment grade ratings. All these protections are only given to clients who trade FCA regulated products.
Compare Brokers
It is always a good idea to have trading accounts at multiple brokers. These brokers are very popular among new investors.
ForTrade is a fast growing and popular CFD broker, that is also licensed and regulated by the FCA, look here.
You should try their custom trading platform, with a Free Demo Account at: ForTrade.com.
If you are currently investing with this broker, please share your experience other people reading this review, in the comments section below.