ETX Capital Review

ETX Capital Review

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October 27, 2011 // By: // 4 Comments

Spread Betting CompanySpreads From Deposit MarginTrade Min.Account Min.Loyalty ProgramSpecial OffersMobile TradingTotal Score
ETX Capital

ETX Capital

1 pip

1-30%

£0.5

£100

£250 Safety Net
Referrals

Apple

7.9

Formerly known as TradIndex, after becoming part of Tradition UK in 2002, they were later rebranded as ETX Capital in 2008. The name was chosen to express the company’s values as an electronic, telephone, execution service business. Although it appears to be a relative newcomer to the spread trading platform, the roots of the company itself reach back to 1973.

Trading Market

With an opening deposit of £100, ETX Capital provide their spread betting account holders with a large selection of FX pairs, along with an extensive list of shares and indices. They have 28 different commodities available to spread bet on and they also offer spread trades on bonds and interest rates. There are four types of markets available on ETX; the daily futures, market closure expiring dailies, rolling daily bets and monthly futures.

Betting Platforms

You have 24 hour access to your account via their website, without any need for downloaded software. You can access the site via your mobile’ browser too, but they currently only offer an app download for the iPhone. You can also access a Facebook application which allows you to make fake trades, which if successful could result in you winning a prize. However interesting an idea this is, it seems like a redundant feature when there isn’t a demo account available for the site.

Benefits

The greatest strength of ETX Capital lies with its look. The layout is modern and fresh and extremely easy to get to grips with. As always the 24 hour trading abilities and help desk are also welcome. Its educational programme is also strong with a healthy range of programmes and an in depth pair of seminars available to its new and existing customers.

As previously stated the site’s appearance along with its 24 hour helpline is its saving grace. Other than that it’s hard to get really excited about a site that has little else to even differentiate itself from other stronger providers. I fear the company thinks it has more to offer than it truly does.

Special Offers

ETX capital currently offers what they call a ’£500’ free education course. In reality all they offer are two seminars that could cost you up to that amount away from the site. This seems like a far fetched notion, as most financial spread trading platforms offer such programs for free, some even offer them free to those without an account. This incentive is unlikely to do anything but annoy those who expect to receive said £500 once they’ve opened their account. They have included other incentives in the past, so you may want to keep an eye out and wait to fill out your application when they have more to offer you.

Site Strengths

  • The site’s appearance
  • The available help

Site Weaknesses

  • The available spreads
  • The current misleading special offer

Conclusion

The spreads available here aren’t at all exciting, in fact they are quite average. The inclusion of guaranteed stops is sorely missed on the platform and may push more experienced traders to another spread betting provider. The lack of a demo account may also frighten those with little experience away too. With these features overlooked, ETX Capital has no doubt lost a number of possible clients. The company’s owners seem to have gone with style over substance with this attractive, yet stunted, spread betting site.

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About Sam Wein