The review will focus on the organization, the parent company, the kind of platform it provides to their traders, the financial aspect of the broking house including deposit and withdrawal process, and the customer support service amongst other facets. The detailed review of all these facets has been enlisted hereunder.
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The experience of the parent company has been utilized to provide a user friendly platform of binary options trading by the ETX Capital which is powered by the well-known SpotOption platform. The SpotOption provides freedom to the developers, to provide an intuitive and user-friendly platform for trading. The platform provides binary options like high or low, one touch binary options, long term binary options and short term binary options amongst others. The website provides a safe, secure, and convenient layout to the traders.
The official site of the company is artistically laid to attract the aspirants. The website uses black, white and cashmere colors to catch the attention of the visitors. The intuitive website layout and years of experience of the parent company makes it one of the chosen brokers in the binary trading arena. The platform is easy to use and provides the data feed in a real-time. The ETX Capital offers over 100 assets to choose from, including stocks, forex pairs, commodities, and indices. The long list of choices will allow any type of trader to select his or her favorite assets for the trading.
The platform offers long term and short term assets to attract various kinds of traders. The types of binary options range from a very short term to more than a day expirations. The high/low binary option allows a trader to take a call on the direction of the asset, and the broker trades on whether the asset’s price will increase or decrease.
The broker also offers one touch option, which allows the trader to predict whether the asset will cross the predetermined price level or not. The predetermined levels are set at the equidistant from the current price, and hence trader will choose a “call” if he or she thinks that the price will close above the higher level or choose a “put” if he or she thinks that the price will close below the lower level, at the expiry. The company also offers various expiries ranging from 60 seconds to 24 hours to meet trader’s requirements.
The prominent feature of the site is, that it allows the traders to close any open position before the expiry of the option, of course, at a lower profit or loss. The company allows traders to engage socially through “trader’s choice”, which shows the top performing trader and their trades, so one can duplicate those trades to be on winning streak. The company also offers the android and IOS powered mobile application for their customers, which allows trading on the go.
The trading platform also offers same services in the demo account, which is opened with a virtual currency of $10,000. We highly recommend our readers to utilize the facility before commencing the trading with the real money. The disheartening feature on the site is limited learning options on the site, as many of its competitors offer in-depth knowledge sessions and tutorials for their clients, although it offers webinars, seminars, and trading course to their registered customers. The platform also provides daily market reviews for all their customers, to understand the current market scenario and assess the trend.
Deposits and Withdrawals.
The ETX Capital broker provides the most popular payment methods like MasterCard, Visa Card, Amex, Skrill Moneybookers, Neteller and wire transfer. Like most other binary brokers, it does not offer popular payment option like PayPal as a payment method. The company accepts minimum deposit amount of $100 while it does not put any cap on the maximum deposit amount. The broker also accepts the deposit in various currencies including USD, GBP, and EUR amongst others. The card payments, Amex, and Skrill transfers are credited immediately to the customer’s account, while the payments through wire transfers take up to five days to credit in the account. The organization does not allow to change the currency of choice, and it is selected at the time of the deposit.
The withdrawal process is very straightforward and takes up to five days to process. The organization asks for credit card details, ID proof, and utility bills for verification and further processing of the funds. The company allows up to 5 wire transfer per month without any fees and charges fees of £10 per wire transfer for subsequent transactions.
The organization does not allow traders from the USA to register but offers services to other nationals. The company allows minimum investment amount of $10 while it allows maximum investment amount in a single trade as high as $2000. The minimum trading amount makes it one of the preferred retail brokers for the traders. The company also charges for an inactive account if the account has stayed inactive for more than 120 days.
Signup and Bonuses
The ETX Capital Binary offers generous signup bonuses to their registered clients and it can go as high as 60 percent of the initial deposit amount. The bonuses start from the investment amount of $250 and it is pegged at 30 percent of the deposit amount. The range changes to 40 percent when the deposit amount is more than $500. The broker offers 40 percent of initial deposit as a bonus for the deposit amount between $500 and $999. The organization offers 50 percent as an initial bonus if the deposit amount is between $1000 and $4999, while it offers 60 percent of initial deposit amount as a bonus if the deposit amount exceeds $5000. Though it offers 60 percent as a bonus for the deposit amount exceeding $5000, the amount of money offered as a bonus is capped at $20,000 per customer.
Unlike other brokers, the ETX Capital does not credit the bonuses into customers account directly rather the customer has to make a request to customer support executive for the bonus payments. This makes sense, as it allows the broker to explain the terms and conditions to fulfill before the bonus is credited to customer’s account making it more transparent business practice.
Payouts and Trading
The brokerage house offers payouts as high as 100 percent for one touch binary options while its normal payout starts from 75 percent. The payout range falls in the upper range of most of the binary brokers in the industry. Although the variety of assets available for the trading is more than 100, it has limited types of options to trade. It does not offer popular trading types like tick-by-tick, ladder, and turbo. The broking house offers common trading options like one touch, high-low, spread high-low, short-term and long-term.
The ETX Capital offers more than 100 assets for the trading including popular stocks and indices, currency pairs and commodities. The array of assets and types of trading options can satiate entire gamut of traders. It is also heartening to see that the website is optimized for mobile platforms so that the traders who prefer to trade while traveling can take the advantage of the same. The mobile application has been developed for android platform and IOS platform to cover almost 95 percent of the mobile market. The mobile app is available through Google Play Store and Apple App Store for the downloads.
The ETX Binary is owned by the ETX Capital. The ETX capital is owned and operated by the Monecor (London) Ltd, which is formed under company laws of England and Wales with certificate number 00 85 18 20.
The age old experience in the financial trading has made them develop the robust customer support system. The company provides its customer services in the popular languages including English, Danish, Spanish, French, Portuguese, German and Italian amongst other. The website of the brokerage house also supports multiple languages making it a truly global player.
The company offers its customer support services through web chat, phone, and e-mail. The live chat when tested was prompt in response and was adequately equipped to answer most of our questions. The customer support services are available during weekdays between 7:30 am to 9:00 pm UK time. The customer support center remains closed on Saturdays and Sundays.
The long experience of financial trading is reflected in their binary trading platform, which offers one of the most professional and easy to use platform for their clients. The ETX Capital’s website is aesthetically designed and provides more than 100 assets to trade. The company also provides a range of options types including high-low, spread high-low, one touch, short term and long term to cater to the entire spectrum of traders. The website is also available in various international languages and provides its support services in more than 10 international languages. The heartbreaking fact is that the ETX Capital is not a registered broker with any binary regulatory authorities rather its parent company has a registration with FCA. Also, the broker does not accept registration from the US residents and does not have an entire suit of option type for the traders. On the other hand, the competitors in the binary trading are offering exhaustive option types and styles to satiate the needs of the traders.
The ETX Capital is making its way into the binary trading market, but still, we would urge our readers to stay with the well regulated and well established brokerage houses. The Banc De Binary, IQ Option, and Option Robot have established themselves with their state of the art platform and consistent customer service. Their standard operating procedures and timely payout make them stand out amongst the crowd. They also offer entire bouquet of binary options including long term, short term, ladder, 60-sec, spread, and tick-by-tick amongst others. Their withdrawal process is also very streamlined and provides timely payouts to their clients on a consistent basis.
Considering above aspects, the ETX broker’s offerings are competitive but it does not come close to the well established brokers. Hence, we would recommend our readers to select Banc De Binary, IQ Option, or Option Robot instead of going for unregulated broker like ETX Capital .
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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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