ETX Capital – Scam or a reliable Forex and binary options broker?
ETX Capital is a broker we have been observing for quite some time now. We were following forums, discussions, social media and possible scam reports. The good news is that given the size of this broker, the complaint rate is very low. Our team used to trade for two years at ETX Capital and we would recommend their platforms to intermediate traders. It’s not well suited for professional trading but also not the best option for noobs that make their first trades.
This broker is FCA licensed and regulated which is pretty much a must have criteria nowadays. This is only valid for the CFD trading, not for binary options (these are not regulated through the FCA at the moment of this writing). But if binary options is interesting for your trading needs, it really helps to have the opportunity to trade both CFD and binary within the same platform and account balance. Also the client funds are kept separate (believe it or not, this is not the case with every broker even in 2016).
Apart from that there are a few things that are considered negative: There’s no live chat support. The real spreads are very different to the “typical” spreads mentioned on the website. This depends on the market of course but it looks like “typical” is like the all time low. There are currently no complaints going on but traders sometimes have trouble closing trades even with stop-loss. This is more like a typical liquidity issue you need to be aware of. So pay attention to that.
We would love to hear your thoughts. What do you think about ETX Capital personally? What are your experiences?