ETX Capital Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of ETX Capital fees and also assessed the size of its minimum deposit.
Short introduction of ETX Capital
The brokerage company OvalX (aka ETX Capital) was founded in 2002 and belongs to the well-known corporation Monecor Limited, which has been operating since 1965. Headquartered in London, the company is regulated by the FCA (UK Financial Conduct Authority). The broker is aimed at cooperation with traders from EU countries. ETX Capital provides a wide range of trading tools, narrow spreads and quality training materials. In 2018, ETX Capital’s own development TraderPro was recognized as the best trading platform according to the UK Forex Awards and Online Personal Wealth Awards.
| 💰 Account currency: | USD, EUR, GBP |
| 🚀 Minimum deposit: | From £250 or equivalent |
| ⚖️ Leverage: | Up to 1:400 |
| 💱 Spread: | From 0.6 pips |
| 🔧 Instruments: | Currencies, indices, stocks, energies, commodities, metals, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100% - 20% |
ETX Capital Pros and Cons
👍 Advantages of trading with ETX Capital:
•control of the broker's activities by the FCA;
•typically a narrow spread for popular currency pairs;
•quality training from London’s financial experts.
👎 Disadvantages of ETX Capital:
•high minimum deposit;
•small selection of payment systems and withdrawal commission under certain conditions;
•a complex and lengthy procedure for opening an account, consisting of four stages;
•there are no PAMM accounts or investment programs for generating passive income.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
ETX Capital Commissions and Fees
The Traders Union experts have analyzed the trading conditions of OvalX for explicit and implicit fees. If the withdrawal amount exceeds 100 pounds and the number of requests does not exceed 5 trades per month, then the broker does not charge an additional commission from the client. When withdrawing smaller amounts and exceeding the limit of available requests, the broker charges a commission of $25 for each payment. Replenishment of the deposit takes place without charging a commission.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $6 | Yes, under certain conditions |
| Premium | From $6 | Yes, under certain conditions |
| Professional | From $6 | Yes, under certain conditions |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
ETX Capital Minimum deposit
How to Start Making Profits — Guide for Traders
The OvalX brokerage offers several types of accounts for Forex trading: standard, professional and premium. All accounts are designed for professional traders with free capital. The size and type of spread, type of order execution, and leverage are identical on all accounts.
Account types:
Any trader can test the platform and the broker's trading conditions by opening a free demo account for 14 days.
OvalX's terms and conditions are aimed primarily at professionals. The broker offers narrow spreads and reliable service, but at the same time sets a high entry threshold to start trading.
Brokers similar to ETX Capital
When analyzing ETX Capital, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of ETX Capital and other brokers.
Comparison of ETX Capital with other Brokers
| ETX Capital | RoboForex | Pocket Option | Exness | FBS | Pepperstone | |
|---|---|---|---|---|---|---|
|
Trading platform |
No |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, Mobile Trading |
MT4, Mobile Trading, WebTrader, cTrader, MT5, TradingView |
|
Min deposit |
No |
$10 |
$5 |
$10 |
$1 |
$1 |
|
Leverage |
No |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
No |
From 0 points |
From 1.2 point |
From 1 point |
From 0.2 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
No |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution |
|
No deposit bonus |
No |
No |
No |
No |
$5 |
No |
|
Cent accounts |
No |
Yes |
No |
No |
Yes |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of ETX Capital shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
Can the fees differ depending on the asset?
Yes. This is why many brokers specify the fees for each asset individually.
Are the fees charged on a demo account?
Yes, but they are written off the virtual funds you use for trading on the demo account. This allows you to learn the level of the fees.
What are non-trading fees?
Non-trading fees are the fees charged outside the trading process, for example deposit and withdrawal fee, inactivity fee, etc.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!