IETX Capital’s parent company is Monecor, which is a London-based firm that was founded in 1965. It is regulated by the FCA or the Financial Conduct Authority

ETX Capital

Investing online is growing in popularity. Whether you prefer Forex, CFDs, cryptocurrency or other investment vehicles, finding a broker, setting up an account, and starting to trade has never been easier. However, it is also easier for unscrupulous parties to take advantage of unsuspecting traders. There are man trading scams online and it is important to know what to look for.

ETX Capital is regulated by the FCA or the Financial Conduct Authority. It is always important to look at licensing first. However, does that meant that ETX Capital is a scam or legit? If you want to know more about a broker or if you have lost money in an investment scheme, contact Trader Defense Advisory for information and resources so can get the process started for returning your funds to you.

Year Created2018
RegulationNo
Minimum Deposit$250
Product TypesForex, CFDs, Currencies and Indices
Products OfferedMore than 200 products to Trade

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Is ETX Capital a scam?

ETX Capital does not have a withdrawal fee for initial monthly transactions, which is a definite advantage. However, does have a $25 inactivity fee, which is higher than many other brokers and a higher than average fee on CFDs. For various CFD products, ETX Capital ranged from double the fee to a few dollars higher. This is a disadvantage also considering how risky CFDs are, to begin with.

However, this broker has reasonable withdrawal fee. The first five monthly transactions are free, and after five, the fees are just $10. The $25 inactivity fee after six months is higher than average. For traders who avoid trading high-priced and risky CFDs and keep their accounts active, the fees are not too onerous.

ETX Capital: Scam Warning Signs

ETX Capital’s parent company is Monecor, which is a London-based firm that was founded in 1965. It is regulated by the FCA or the Financial Conduct Authority, a First-tier regulatory authority in the United Kingdom. This is a good sign so far, but it is no guarantee that the broker is legit. Always work with a broker that has a current license from a top-tier regulator.

The main takeaway from our investigations is that ETX Capital seems like a legitimate broker, with some advantages and disadvantages which will be explored in this article. However, it should be noted that two-thirds of investors lost money on CFDs with this firm. This may be more of an indication of the inherent risk of CFDs rather than flaws with ETX Capital in general.

The summary of our evaluation is that ETX Capital is a quality broker. They have a reliable license, opening an account is easy, there is a low minimum deposit. ETX Capital offers good customer service, a satisfactory platform, and investor educational resources.

The drawbacks we found with ETX Capital were its fees, some of which were higher than average, the small selection of products, and the lack of research available for investors. As mentioned above, two-thirds of CFD investors lost money with ETX Capital, but this may be a caveat about CFDs rather than ETX Capital.

How to Spot a Scam Broker?

What are the signs of scam brokers? Here are a few of many dubious practices:

  • Falsifying their credentials
  • Aggressively demand more money from clients without proven returns
  • Verbally abusive and threatening behavior on customers service calls
  • Making unauthorized transactions
  • Urging clients to make investments they don’t want to make
  • Charging fees that were not agreed upon at the beginning
  • Refuse to release funds

If a broker has exhibited any of these behaviors, contact Trader Defense Advisory experts immediately.

How can Fund Recall help?

Time is of the essence when it comes to tracking down a scam broker. They are known to disappear quickly under alternate identities and to take your money with them. Fund Recall has decades of combined expertise in spotting scams, tracking them down, and working as an advocate to help clients retrieve their money. Consult with our experts today!

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