Bad Points: ETXCapital
- Range of markets covered is still somehow limited.
- Slightly wider spreads.
- Margins can be a bit on the high side - for instance margin of about £200 is required to open a FTSE £1 rolling spreadbet.
- Customer Care is average – clients have sometimes reported lack of satisfactory responses to their queries. And they don't offer a live-chat option which is desirable these days when people expect instant support.
- The platform has been reported to slow down at times of heavy trading, e.g Non Farm Payrolls etc and it can be hard to get into and out of positions during such times.
- Also their finance interest charges for holding positions overnight higher when compared to others eg Ayondo. This means that it can get expensive to rollover trading positions from day to day for weeks on end.
- ETX have recently removed the IT-Finance (Advanced Pro Real Time) Charts and substituted them by their own 'new charting software' which some users dislike. The new charts aren't really that bad but the old charts were simple and quite easy to work with if you’re flipping between scales. The trade-in feature in the new charts is practical and it's interesting to look at 30 second and 10 second candlesticks on the advanced charts. I also like the fact you can customise the bars and Fibonacci plots - giving them different colours is useful.
- Although ETX Capital charge an inactivity fee it is only after 120 days of inactivity and I was informed that they will refund clients three months worth of fees when you resume trading again. If you are an active trader you shouldn't encounter problems, but do keep in mind that if you don't intend to at least place one trade every 120 days you may be hit by an inactivity fee.
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