ETX Capital was established in 2002, with the parent company founded in 1965. Over the years, the company has won several awards and is one of the UK’s leading providers of online trading. But how does this experience transfer to results on the popular Metatrader4 trading platform? Will an unbiased broker comparison reveal and ETX Capital MT4 account to be the best choice?
- Advantages for both new and experienced metatraders
- Benefits of the platform
- The reputation of Capital MT4
- The costs of an MT4 account
- Support and training
Advantages to those new to trading on MT4
On its website, ETX Capital provides a number of advantages to inexperienced metatraders setting up an ETX Capital MT4 account. It draws attention to its education programme with free webinars and technical analysis tools, as well as the support offered by the customer service team in London. Although based in England, the customer service team is a multi-lingual service offering support in French, Spanish, German, Polish, Czech, Greek and Mandarin, as well as English. The support website can be used to answer FAQs in more than 15 different languages. Fees and commissions are low and there are no deposit charges. ETX Capital accept a wide range of payment solutions, including credit cards. ETX is fully regulated by the FCA, making it a trusted provider of spread betting, forex and CFD products. Client funds are kept strictly separate from company money and daily security checks are carried out to ensure they have constant and sufficient regulatory capital. With Metatrader4 becoming one of the most popular trading platforms for anyone wanting to trade using custom indicators and automated expert advisers, using a well-established performer such as the ETX Capital trading platform makes sense to those new to the business.
What about the more experienced metatrader?
For those wishing to swap platforms, an ETX Capital MT4 has a number of features that will make it appeal to those more experienced traders.
- Technical tools and advanced charts
- Tight spreads and competitive margins
- Personal relationship management
- Benefits of 13 years’ experience
Upon setting up an account, an ETX Capital metatrader is provided with their own account relationship manager who can offer help with the platform via phone or email, and provide up-to-date information on the latest market trends and events. With even the most experienced traders needing support at times, the 13 years that ETX Capital has accumulated is certain to be advantageous. The experience claimed on the website is not an empty boast, with several awards having been won by the company over the years, including the UK Forex Award for best Forex trading tools and software in 2013 and the SHARES Award in 2012 for the best futures and options broker. Part of the package are advanced charts and technical analysis tools, enabling clients to trade to the best advantage. On thousands of markets, ETX Capital offers competitive spreads, from 0.6 on major forex pairs. Margins too are low, with leverage of up to 200:1.
Features of the platform
The ETX Capital trading platform is packed with features to help manage successful trades, all of which are free for users, giving them the same advantage as ETX Capital clients. The platform has multiple chart capability, so traders can have several charts open at the same time, providing real-time data and a live stream of the latest market fluctuations. With customised watch lists, it is possible to easily keep an eye on key markets, as well as take advantage of the 50 built-in indicators. It is standard practice for MT4 traders to use mini-lots, one tenth of the size of standard lots, to trade. However, the ETX Capital MT4 account allows the use of micro-lots; one tenth of the size of mini-lots. This allows trade to take place in smaller increments, reducing the incidence of over-ledgering. With the market constantly changing, it is easy to miss opportunities. This risk is significantly reduced on this platform with one-click trading, which allows trades to be placed quickly and effectively with the one-click tool. If used correctly, hedging can reduce risks, allowing a payoff of some degree no matter how the market moves. The platform allows traders to hedge any of the available markets.
Trading anywhere at any time
With the ETX Capital MT4 account, ETX Capital provides the hosted platform while the traders provide their own Automated Expert Advisers (EAs). These are programmed to follow a set of instructions that allow trades to be opened and closed without the trader needing to be present. This allows trading to continue at any time. Using the ETX Capital trading platform, there are also other features to increase the flexibility of where and when trading can happen. While the use of EAs means it is possible to program trading to take place when the trader is not present, this does not mean the trader should be excluded altogether. Moreover, this is possible even when you are away from your desktop, thanks to the apps supported by the platform. An iPhone, an iPad, an Android or a Windows device can all allow access from wherever you can connect to the internet. Another option account holders can take advantage of is a Virtual Private Server (VPS). This means the home computer does not even need to be on for trading to continue. Instead, EAs can execute trades uninterrupted any time of the day or night, every day of the year.
- Automated Expert Advisors available
- Flexible trading
- Mobile accessible
- Virtual Private Servers
The reputation of ETX Capital and its MT4 platform
For anyone looking for the best MT4 broker to use to trade with, one of the key questions will be about their reliability. Everyone wants to know how safe their money will be. As a company based in the UK, ETX Capital is under the jurisdiction of the UK’s Financial Conduct Authority (FCA), one of Europe’s leading financial regulators. Its FTA registration number is #124721. As well as having to follow the strict regulations, this means that ETX Capital clients are protected under the Financial Services Compensation Scheme (FSCS). Additionally, ETX Capital has received a number of awards and acknowledgements in the last couple of years, reflecting a high standard of service.
- Recognised as providing excellent forex education by the 2017 UK Forex Awards and 2017 Shares Awards
- Nominated in 2018 for the ‘Best Trading Platform’ by Online Personal Wealth Awards
- Nominated for the ‘Best Spread Betting Platform’ in the 2018 ADVFN Financial Awards
- Won the ‘Best Education’ award at the 2018 Online Personal Wealth Awards
As a well-established company, ETX Capital has a solid reputation that reflects well on the ETX Capital trading platform. Although the MT4 account itself has not, at the time of writing, been singled out for an award, its performance has contributed to the other awards.
The costs of an MT4 account
Although ETX Capital has three main trade types – spot market, CFDs market and Binary Options market – it offers only one type of ETX Capital MT4 account: a standard trading account. Opening an account is affordable for those starting out in MT4 trading, with a minimum deposit of $100. However, to gain access to the free MT4 VPS, a minimum deposit of $2,000 is required. ETX Capital also offers a demo account that allows traders to get to know the tools and the platform without risking their capital, and it is well worth taking up this option before opening an account if you are unsure if MT4 trading is for you. Trading on the ETX Capital MT4 platform is commission-free, but traders do need to pay a small spread on their trades made on the platforms. These are competitively priced, with forex spreads starting at 0.7 pips, commodities spreads starting at three pips and indices at one pip. Leverage rates can be as high as 400:1 on some MT4 products. When it comes to money withdrawals, the processing time usually take around two to three business days, depending on which method is used. Up to five withdrawals of $100 or more can be made for free each month. After that, a processing fee of $25 is applicable. This is the same no matter which payment method is used, with no additional charges for certain methods.
ETX Capital Education, information and research
In our ETX Capital review, a benefit that we highlighted is their commitment to education. This has been apparent since the company’s founding and has gone from strength to strength, with this commitment recognised in awards. It is important for them to help their traders improve their craft. The company provides a regular program of free seminars, given by experts from an independent trading company as well as their own in-house team. These seminars are of immense benefit for every ETX Capital metatrader, whether they are a complete beginner or for those wishing to hone their abilities and gain more specialised knowledge, such as specific markets or technical analysis. For those who cannot attend the seminars, ETX Capital also offers webinars, both live and pre-recorded. Clients are offered a series of eight-hour training sessions with monthly mentoring sessions, providing a valuable discussion on trading strategies. The latest market news, the trading expectations for the day and other relevant news can be easily accessed on the ETX Capital News Center, with updates readily available on social media platforms, including Facebook and Twitter. Traders who have deposited at least £10,000 can gain access to a client portal, supported by TradeCast, a premium research offering. The only disappointing note in ETX Capital is its blog, which is not very active.
How does ETX Capital and its MT4 platform compare to other brokers?
Anyone investigating MT4 platforms and considering trading with ETX Capital will be interested to find out how it fares in an MT4 comparison with other brokers. Because there is no commission payable on trades, pricing compares favourably with other brokers. On customer service too, ETX Capital comes out well, with a quick connection time for queries and the professional manner of the responder also being praised. Although there is no localised telephone support, telephone support and live chat are accessible 24 hours a day. While education and information are one of the key benefits of ETX Capital MT4, there is little in the way of research, and other brokers can offer more in that respect. The MT4 platform itself is highly regarded, due to its fully customisable interface and multi-lingual support, as well as the option to access the platform from mobile devices. The demo platform is also admired, allowing traders to experiment with the platform without risk, and with a special hotline for this platform. There is just one trader account type for those wishing to trade on the MT4 platform at ETX Capital, with no bonuses or special deals available. Compared to trading platforms offered by some other brokers, this can be limiting.
ETX Capital MT4: our conclusion
With a well-established reputation, built up over many years in the business, ETX Capital is a reliable place to trade on an MT4 platform. With its customisable interface and mobile access, it is well suited to traders wanting to monitor and manage their trading on the go. The support and education given to traders lifts it above many other brokers, and while MT4 trading always carries risks, ETX Capital is a company that likes to support its traders in improving their abilities and developing their trading strategies. The lack of commission and the ETX Capital's low minimum investment means that costs of trading are lower than with many other brokers, and with a handy demo account, it is an ideal platform for those new to MT4 trading to learn the tricks of the trade. Against all this, the drawbacks of the lack of research and there being only one type of trader account are minimal. For those who want a reliable trader with good customer support, the ETX Capital MT4 is well worth considering.
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