ETXCapital scam or not? Read our review!

ETXCapital review

ETXCapital has been registered in the UK under InfiniCore Ltd. ETXCapital office is in London (1st Floor, 2 Woodberry Grove, Finchley).

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The company can be found in two offices: one in London, one in Ireland. ETXCapital had been created in 2002 as TradIndex, the name change happened in 2007. Monecor (London) Limited is regulated in the UK by the Financial Services Authority (FCA), registration number 124721. It should be pointed out, though, that FCA does not regulate binary options as they are treated as gambling, which requires a different type of licensing. In 2010 service Trade2Win, which unites over 200,000 traders from around the world, awarded EXTCapital the third place in "Spread Betting Broker" category.

Binary options are available using ETX Binary platform. Despite its name, it's not an original platform, but the commonly used SpotOption platform. The website has been translated into 17 languages.

There's just one type of account regardless of how much you're willing to invest. You can go with USD, EUR or GBP.

 

ETXCapital platform

ETXCapital makes use of the popular SpotOption platform in 2.0 version, which is why it's more visually appealing and clearer, as well as more intuitive. There are over 100 assets to choose from, divided into Forex Pairs, Commodities, Financial Indices and Stocks; you can also choose Bitcoin price prediction. The return is between 65% and 81%, so the highest possible return on options equals 81%.

You can go with such classic options as high/low, short­-term (30, 60 and 120 seconds) and long-­term ones, or currency pairs.

The platform is also available on mobile devices (Android, iPad, iPhone).

The platform offers a rather wide range of expiry dates as far as the classic options go. We can initiate an option up to 3 minutes before the expiry time. You can also choose the end-of­-day expiry date. Additionally, there are long-­term options with end-­of-­the­-year expiry time.

It takes about 3 seconds for the option to be accepted, so it's best to do it earlier if we trade on the end of the candle. Tools such as rollover, doubling up or selling back are available after opening an option.

 

ETXCapital deposits and withdrawals

ETXCapital does not offer a wide range of payment methods. To deposit money you can use bank wires, credit cards or skrill and that's it. However, since ETXCapital has bank accounts in European Union countries (Germany, UK), it shouldn't take long. The only way to withdraw money also involves a bank account. The minimal investment starts at $100, €100, ¥10,000.

DEMO account

The broker offers demo accounts only for Forex-­related platforms, so those who prefer binary options cannot set up a demo account for ETXBinary platform.

Client support

Superb client support with fast reaction time and to-­the-­point answers. Available Monday to Friday, 07:30 a.m. (GMT+1) to 09:00 p.m (GMT+1). You can contact them via e­-mail, hotline (free for the residents of Great Britain, 0800 138 4582) or visit them in the London office (ETXCapital, One Broadgate, London, EC2M 2QS).

Educational materials

Mostly dedicated to the Forex market and its analysis: tutorials, videos, market news. It's not totally pointless since there are connections between the binary options and Forex markets.

Bonus

Bonuses are available only for deposits over $250. They depend on the amount deposited: 30­-60%, but no more than £6000.

ETXCapital SCAM?

EXTCapital's binary options platform is a completely fresh endeavor. We looked into the company's Forex­-related track record: the broker is regulated by the British FCA and any complaints or issues are mitigated by a third party, the British Financial Ombudsman Service. To add to this, there's a compensation scheme in place, which protects deposits up to £50,000.

Judging by all that it might be said that the deposits should be safe with this broker. However, we couldn't verify whether the same policy applies to binary options clients. Still, it's hard to imagine that the broker would risk its reputation by neglecting clients of one of its basic platforms.

Summary

It seems that, since it's mostly Forex­-oriented, binary options are just a side-business for ETXCapital. There aren't too many choices, but it isn't anything that makes using the service difficult in any way. Being regulated by the FCA adds credibility: we can be sure that the broker is experienced and rather wealthy.

Discussion forum and opinions

Forum link

Broker details
Broker’s name ETXCapital
Website url www.etxcapital.co.uk
Start of 2007
Country of registration United Kingdom
Regulation yes, but only forex activity (FCA)
Platform SpotOption 2.0
Markets Forex, Indices, Stocks, Commodities
Options high/low, short-term, long term, pairs
Assets +100
Deposit methods wire transfer, credit card, skrill
Withdrawal methods wire transfer
Deposit min. $100
Min/max stake $10/$2000
Withdrawal min. $25
Deposit/withdrawal fee none
Profit up to 81%
Account currency USD, EUR, GBP
Bonus 30-60%, but no more than £6000; the minimum deposit for a bonus: $250
Failed transactions refund none
Demo no, only for the Forex platform
On-line support yes
Languages Polish, English, Czech, Danish, Arabic, German, Spanish, French, Irish, Italian, Hungarian, Portuguese, Romanian, South African, Turkish, Russian, Chinese, Greek
US traders no
Expiry times from 30, 60, 120 seconds up to 30 days
Educational materials trainings, videos, economic comments, events
Mobile trading yes (Android, iPad, iPhone)

Video

ETXcapital rank

  • Platform: SpotOption 2.0
  • Launched: 2007
  • Registration: United Kingdom
Withdrawal execution
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Quite good

User Rating:

4.5/5
(1 votes)
  • Platform: SpotOption 2.0
  • Launched: 2007
  • Registration: United Kingdom
Withdrawal execution 90%
Platform 84%
Support 94%
Functionality and look 86%
Reliability 94%
Payment methods 72%
Educational materials 70%
Return 86%
Assets 80%
84% Quite good

User Rating:

91
(1 votes)

Pros
  • Mobile trading
  • Multi-languages website
  • Reliable ownership company
  • BTC asset
  • Daily market analysis
  • Low deposit minimum
Cons
  • No demo account
  • No regulation for binary options
  • No one touch and boundary options
  • Few forms of payment

 

 



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