ETX Binary Review

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ETX Binary Review

Review

ETX Binary is a binary option platform offered through ETX Capital, a trading name of Monecor (London) Limited, which is considered one of the best brokerage houses in the industry. Since 2002, it was primarily a Forex dealing desk but has now branched off into binary option trading as well. It is one of the few binary option brokers with FCA regulation. It is also fully EU regulated and certified by JFSA Japan.

Accounts

There isn’t much information about the accounts offered by ETX Binary.

Under the Terms and Conditions section, I was able to find some additional information. The first thing I found when doing this review was that a trader must open an account with ETX Capital before being able to trade binary options with ETX Binary and receive a welcome bonus.

The minimum deposit to an ETX Binary account is $250.

Features

ETX Capital was established in 1965. It is authorized and regulated by the Financial Conduct Authority and is a member firm of the London Stock Exchange. Client’s funds are kept strictly separated from company money in investment grade rated UK banks, and daily checks are performed to ensure the firm has a sufficient level of regulatory funds.

ETX Binary Features

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When it comes to social trading, ETX Binary Traders can also track the Trader Choice to see the movements of other ETX traders and get the feeling in which direction the market is swaying.

Education

There is a host of educational tools available at ETX Binary including several videos, training courses and seminars. There are also several live webinars offered each month. Market commentary and real time news reports are provided daily.

Deposits/Withdrawals

Depositing and withdrawing funds is straightforward, but there were not many options. ETX Binary supports MasterCard and Visa and bank transfer and at the time of this review they were arranging to include MoneyBookers/ Skrill for faster withdrawing. Skrill was available for deposits.

Customer Support

Customer support is available by phone to UK numbers and email. Nothing was mentioned about Chat service but because ETX Capital does offer Chat, I assume that ETX Binary does as well. Support itself is available in English, Italian, German, French, Spanish, Danish, Chinese, Russian.

They also operate a support site which provides answers to traders’ most frequently asked questions. The email used to post questions or concerns is the ETX Capital one.

I had some difficulty during this review of ETX with finding responses to some of my questions and was somewhat surprised to find the information listed as Q & A when I clicked on the ‘Support’ tab. And even there, some of my questions were not answered. It took me a while to uncover if there was a minimum deposit on their binary option accounts. In fact, there is scant information about the different binary accounts. There is also an ‘ask us’ tab which takes you to an online form for any additional queries and comments.

Conclusion

ETX Binary is the dynamic binary options trading platform on offer from ETX Capital, a London based financial brokerage with over a decade of experience in the industry. All in all, I found the ETX Binary platform to be informative and fun to navigate. For those who wish to trade on just up and down (call and put) and not specific prices ETX Binary is ideal. Users have the chance to take a position on a variety of different products, including Forex Pairs, Indices, Equities and Commodities.

Features

There are several good features at ETX Binary though none of them are particularly outstanding. Most of the features offered reflect those of the parent company ETX Capital which is fine. The bonus structure does differ, however, and the welcome bonus can go as high as a generous 60 per cent of the amount deposited into the account. Some of the features were not listed directly on the ETX Binary site and a good amount of searching was required in order to locate some information.

Platforms

SpotOption

The ETX Binary trading platform is user-friendly and still versatile. Traders can place trades easily and track the progress. The trading interface is the traditional Spot Option interface with its nice theme and excellent performance. ETX Binary enables high low trading trough long term and turbo binary options. They also offer pairs trading.

ETX Binary Trading Platform

Perhaps the financial sophistication of ETX Binary platform is best seen in the amount of assets one can trade via binary options. There are more than 100 asset types – 12 currency pairs, 8 commodities, more than 80 stocks and many global indices.

MarketPulse

As of June 10th, 2020, they have switched their trading platform to the powerful and versatile MarketPulse platform. This now gives traders more assets to trade, and better types of binary options.

They have time frames of 30 seconds, 60 seconds, 3 minutes and 5 minutes. Along with longer term options. They have the range, one touch, high low, spread, and options on demand. The spread and one touch offer returns of 100%.

Mobile

The ETX Binary trading platform allows traders to speculate on movements in global markets with limited risk. Binaries are perfect for those on the move, so the broker has made the platform fully compatible with Android, iPad and iPhone devices.

ETX Capital

ETX No longer offer binary options.

They still offer forex and CFD trading.

Broker ETX Capital
Headquarters London, UK
Support Types Email, Telephone, Web Form
Languages Arabic, Chinese, Czech, Dutch, French, German, Hungarian, Italian, Polish, Portuguese, Romanian, Russian, Spanish and Turkish
Trading Platform Proprietary
Minimum 1st Deposit £/$/€200
Minimum Account Size £/$/€200
Minimum Trade Amount Minimum bet size of 50p (Subject to Margin Requirement)
Bonus Deposit match from 20% to 50% based on deposit size. Up to a maximum bonus of £5000
Regulator Financial Conduct Authority, UK
Deposit Methods Major Credit Cards & Wire Transfer
Trading Methods Spot Forex, CFDS, Classic Binary Options, 60 Second Options, Long Term Options, Pairs Options & Spread Betting
Number of Assets N/A
Asset Types Currencies , Commodities , Indices , Stock
Tablet Trading
Mobile Trading
Overall Score 92/100

Formerly known as TradIndex, ETX Capital is a cutting edge online trading services provider that is owned and managed by Monecor Ltd. Based in London UK, ETX Capital is regulated by the Financial Conduct Authority (FCA) under the registration number 124721. Operating since 2002, ETX Capital is no newcomer to the online trading industry. In fact the parent company, Monecor Ltd, has been around since 1965. With a single trading account, ETX Capital’s traders can trade with four different types of trading platforms with access to more than 6000 different instruments. While ETX Capital doesn’t offer their traders the benefits of social trading, they still have plenty to offer.

Trading Platform & Features

Unlike most other brokers, a key advantage to ETX Capital is the ability of traders to access 4 different types of trading platforms with just one trading account. With just a single trading account, traders on this platform can trade binaries with the ETXBinary platform, spread betting with ETX Trader and spot forex with TraderPro. For the more sophisticated traders, ETX Capital also offers them the benefits of the popular MetaTrader4 platform. The MT4 platform allows traders to customise their trading activities with expert advisors (EAs) leaving them with more free time to concentrate on their analysis of the markets.

In addition, all the above mentioned platforms are also mobile compatible. ETX Capital has made it easy for their traders to access their trading accounts from anywhere around the world with just a smartphone or mobile device by just downloading their free trading apps from Goole Play or Apple Store.

Markets Coverage

ETX Capital’s traders can access over 6000 different types of financial assets with their trading platforms. For Forex, the available leverage is now just 1:30 due to ESMA restrictions.

Trading Accounts
ETX Capital only offers one standard type of trading account for their traders. Opening a live trading account is a simple process and only requires a few clicks of the mouse. To makes things even easier, ETX Capital only require a minimum deposit of £/$/€200 depending on the currency chosen for the trading account. Demo accounts are also available in case traders wish to test out the trading platforms first before they commit any real money.

Customer Support
The standard of customer support at ETX Capital is to be commended. While the support services are not available 24/7, they are available in several major languages such as Arabic, Chinese, Czech, Dutch, French, German, Hungarian, Italian, Polish, Portuguese, Romanian, Russian, Spanish and Turkish. The only drawback with the support services is the lack of live chat. All requests for support have to be channelled through the email or through a toll-free Universal International Freephone Number (UIFN).

Spreads, Payouts & Bonuses
As for the spreads payable, traders can choose between fixed (ETXTrader) and variable spreads (ETXCapital & ETX MT4). The lowest spread starts from 0.7 pip for the popular EUR/USD pair. As for bonuses, they go up to as high as 60%. However, in order to qualify for the bonus, traders are required to place a minimum of £/$/€1000 in deposits.

Conclusion
While this broker might not be the largest broker around, they still have a lot to offer to traders in terms of quality services. Apart form being able to trade with multiple trading platforms, traders at ETX Capital gets to enjoy ultra tight spreads as well as dedicated customer support.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

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