ETX Capital is a UK based broker that offers multiple financial products under its wings. Traders can choose Forex trading, spread betting, commodities trading, equity trading, or even binary options trading using a broad range of financial assets that include components from almost all financial markets in the world. Therefore, ETX Capital is one broker that offers an excellent platform for binary options traders regardless of their experience in the market. In this ETX Capital review, we will attempt to find out if the broker is indeed reliable and authentic business.
Does ETX Capital Have A Regulated Binary Broker Status?
ETX Capital is not a conventional Binary Options broker from the Cyprus; instead, the company is a full-blown brokerage house situated in the world’s largest financial capital, London. A significant presence in London since 2002 has helped the company to establish itself as a market leader in financial services, and the company has just recently ventured into the Binary Options trading market. ETX Capital is fully regulated by the FCA and is authorized to promote several financial products including spread betting and binary options trading. All FCA member firms are required to follow several statutory rules and guidelines while dealing in financial products, which is the primary reason why FCA regulated binary options brokers are highly respected and trusted in the options trading industry.
Do I Get A Free ETX Capital Demo Account?
Every trader should always demo trade before putting their real money on the line. However, demo trading is not offered by a majority of Binary Options brokers, which makes it difficult for traders to get familiar with a binary trading platform. Most Binary brokers usually provide bonuses or a few risk-free trades, which can rarely simulate the live trading conditions experienced over an extended period. Nevertheless, ETX Capital offers a full-fledged demo account that traders can sign up for free and enjoy the benefits of risk-free trading using virtual money. These demo accounts will also help the trader to get accustomed to the platform before the actual trading.
But Is There An ETX Capital Bonus As Well?
The availability of a demo platform does not restrict traders from enjoying a hefty bonus. ETX Capital matches up to 100% in deposit bonuses, which is neither the highest nor the lowest in the market. However, a 100% ETX Capital bonus is a great way of starting off with more equity and traders can certainly benefit from the added funds for better returns. Bonuses do have several trading conditions, and traders should always make sure to satisfy those requirements before requesting a withdrawal of funds.
Is The ETX Capital Platform Better Than The Competition?
ETX Capital Binary Options platform uses the ProTrader software, which is one of the popular trading interfaces in the binary options market. While the software is not the best regarding outright performance and usability, the trading platform does contain all the essential features and binary options products such as high/low, one-touch, and other options. The platform is relatively easy to use with a short learning curve, and traders familiar with the Binary Options trading platforms will feel at home instantly with the ETX Capital platform.
ETX Capital mobile trading platforms are also available through the iOS and Android stores. ETX Capital is a relatively new entrant into the Binary trading market, which has given the company plenty of time to do their homework on the modern trends in the Binary Options trading arena. The broker has certainly lived up to its promises of offering a reliable and trusted binary options trading platform.
What About The Different Financial Assets & The Profitability Factor?
ETX Capital offers all types of financial assets including currency pairs, equities, indices, commodities, precious metals, and bonds. The ETX Capital trading platform provides access to all the financial instruments, and traders can choose the different binary options and the expiry directly from the platform. The conventional binary options such as high/low offer a maximum of 81% for winning trades, while a losing trade will result in the loss of the entire invested amount.
There are no cash backs or rebates on losing trades, but the winning percentage goes up to a maximum of 100% for other binary options such as one-touch options. The profitability factor of ETX Capital is slightly on the lower side, especially considering the fact that other binary brokers offer up to 400% return on several high-risk binary options. The comparitively lower amount of profitability can be attributed to the FCA regulation, which puts several restrictions on the way binary options brokers operate.
The Payment Options & ETX Capital Customer Support
ETX Capital clients can deposit and withdraw funds using credit cards, bank transfers, Skrill, Neteller, SoFort, and through other online payment processors. All deposits except bank transfers are made instantly, while withdrawals do have a 24 hour freeze period. If a trader has signed up for a bonus, the entire funded capital will be blocked from withdrawal unless the trader completes the required number of trades, or until the trading conditions are met.
ETX Capital has a highly responsive and friendly customer channel, but do not offer a 24 hours support, unlike other Binary Options brokers. The customer service channel can be accessed through phone or email, but the lack of a 24 hours support channel or live chat is certainly a drawback in the highly competitive Binary Options marketplace. However, FCA regulation does provide assurances that all customer complaints are treated fairly and according to the prescribed guidelines, which should ensure complete peace of mind.