ETX Capital

setanta

Junior member
18 0
Thinking of opening an account with them... like the site.. Has anyone got an account with them? Any good stories/bad stories about them?

I have failed to find any reference to them at all on this forum which I am not sure to take as a good thing or a bad thing given the amount of criticism some firms come in for on here!!

thanks

S
 

setanta

Junior member
18 0
Thanks Matt, I saw that.. rewording the question slightly then... does anyone use ETX Capital, formerly known as Tradindex?!

cheers

S
 

Paul-B

Junior member
46 4
I'd like an answer to that, too. Looking to start spreadbetting on forex currency pairs in a few days, and have been looking at IG Index, Capital Spreads and ETX. There have been a few bad comments here about Capital Spreads which makes me a bit wary of them. I'll hopefully be scalping the market, if that's any help, starting with a relatively small bank of £2000.
 

dilesh23

Established member
507 76
ETX Capital/ Tradindex are a top company, their platform is visually very pleasing and so are their range of services, also ive found their staff to be highly competent and friendly, they provide a demo trading platform which you can try out for as long as you like reseting the amount to a more realisitic amount below £20,000 if need be. Also its linked to their real account so once you deposit some money you can easily flick between the two if need be. on the whole ten out of ten and the champagne wasent bad either.

(ETX staff - Il be patiently waiting for another bottle )
 

alfaevo111

Newbie
5 0
Hey I use ETX and find the site very easy to use with very good charts. Placing positions is easy long or short and you can open an account with next to nothing.
Im still new to spread betting but compared to paddypower which I have tried, it is much better. Paddy power does have a good tutorial though.
Hope this helps
 
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theoracle

Junior member
22 0
I'd like an answer to that, too. Looking to start spreadbetting on forex currency pairs in a few days, and have been looking at IG Index, Capital Spreads and ETX. There have been a few bad comments here about Capital Spreads which makes me a bit wary of them. I'll hopefully be scalping the market, if that's any help, starting with a relatively small bank of £2000.

I looked at ETX during their "Beat the Broker" campaign but couldn't find any good reason to use them.

I have accounts with Capital, CMC, ShortsAndLongs, and Cantor:

Capital: Use this the most. My favourite platform for everything except shares (only because I like S+L more). Don't know why so many complain. Have been profitable with them for a long time with no problems.

CMC: Mostly for indicies and a backup to Capital. The new web platform is quite nice. Spreads not great but a solid performer.

S+L: Use exclusively for individual shares and like it very much. Very tight spreads and guaranteed stops.

Cantor: I dislike the platform and will probably close the account in the near future
 

Trader1UK

Established member
648 14
I looked at ETX during their "Beat the Broker" campaign but couldn't find any good reason to use them.

I have accounts with Capital, CMC, ShortsAndLongs, and Cantor:

Capital: Use this the most. My favourite platform for everything except shares (only because I like S+L more). Don't know why so many complain. Have been profitable with them for a long time with no problems.

CMC: Mostly for indicies and a backup to Capital. The new web platform is quite nice. Spreads not great but a solid performer.

S+L: Use exclusively for individual shares and like it very much. Very tight spreads and guaranteed stops.

Cantor: I dislike the platform and will probably close the account in the near future


Thanks, very useful.
 

theoracle

Junior member
22 0
Paul-B;635596I'll hopefully be scalping the market said:
Forgot to add, Scalping with any SB company is generally unrewarding. Try using an hourly chart to pick the right side, with to a 10 minute chart for your entry.
 

Paul-B

Junior member
46 4
Forgot to add, Scalping with any SB company is generally unrewarding. Try using an hourly chart to pick the right side, with to a 10 minute chart for your entry.

Thanks for the comment. I'd appreciate it if you could explain why scalping with any SB company is generally unrewarding? I've been playing around with Capital Spreads demo account, and it looks to be pretty profitable. Unless real accounts don't work the same as demo accounts.
 

timsk

Legendary member
7,611 2,383
Thanks for the comment. I'd appreciate it if you could explain why scalping with any SB company is generally unrewarding?
Hi Paul-B,
It's a generalization but, as generalizations go, it's a good one. The reason is that by their very nature, scalpers aren't in the market for very long. They're in and out fast, aiming to make lots of small profits as opposed to a few big ones. Therefore, the spread is critical and, as SB companies make their profits from the spreads, they're invariably wider than those of a direct access broker. Then there's all the usual arguments that have been explored ad nauseum about skewed prices and delayed quotes etc. - although I've not experienced any such problems with ETX. So, as a general rule of thumb, no SB is ideal for scalping, but that doesn't mean it can't be done. However, you are limited in your choice of instruments. In the case of ETX, they have a 2 point spread on the DAX and FTSE but, if your chosen market is, say, U.S. stocks, then forget it. The spread on Apple for example is 50 points! For the record, I've no complaints at all about ETX, actually I rather like their platform and find it refreshingly simple to use.
Tim.
 

theoracle

Junior member
22 0
Hi again,

As said, the transaction costs are too great.

I would recommend you download a copy of NinjaTrader and get some historical FTSE (or your instrument of choice) data. Try implementing some strategies and backtesting them. It is easy to come up with a strategy that is profitable but once you factor in transaction costs, it's a different story. Trust me, it's a real eye-opener.

I'm sure some people do manage to make it work and I hope you can be one of them but I would say you have a far better chance taking a slightly longer term view, measured in hours instead of seconds.

If you do have a strategy that works then the only sensible thing is to go straight to a futures broker like IB and be paying the absolute minimum costs. Once you see how the costs mount up in NT, you will agree.

Nick
 

Paul-B

Junior member
46 4
Many thanks for your help. I'll do that. In general, do demo accounts reflect what real accounts do? Certainly on the Capital Spreads one closing a position seems to take just a few seconds, but reading some of the threads here it seems that in real time on a live account it can take much longer, which of course can completely change the amount of pips gained or lost.
 

Trader1UK

Established member
648 14
Many thanks for your help. I'll do that. In general, do demo accounts reflect what real accounts do? Certainly on the Capital Spreads one closing a position seems to take just a few seconds, but reading some of the threads here it seems that in real time on a live account it can take much longer, which of course can completely change the amount of pips gained or lost.
Real accounts are nothing like the real thing. You may do well in demo but when you go live it will totally be a different game, such as delays, slippage, requotes, news, spreads etc....

Demo is only good for getting use to the platform, knowing how to place trades etc...
 

Trader1UK

Established member
648 14
Hi Paul-B,
It's a generalization but, as generalizations go, it's a good one. The reason is that by their very nature, scalpers aren't in the market for very long. They're in and out fast, aiming to make lots of small profits as opposed to a few big ones. Therefore, the spread is critical and, as SB companies make their profits from the spreads, they're invariably wider than those of a direct access broker. Then there's all the usual arguments that have been explored ad nauseum about skewed prices and delayed quotes etc. - although I've not experienced any such problems with ETX. So, as a general rule of thumb, no SB is ideal for scalping, but that doesn't mean it can't be done. However, you are limited in your choice of instruments. In the case of ETX, they have a 2 point spread on the DAX and FTSE but, if your chosen market is, say, U.S. stocks, then forget it. The spread on Apple for example is 50 points! For the record, I've no complaints at all about ETX, actually I rather like their platform and find it refreshingly simple to use.
Tim.
Some good reviews about ETX Capital, May give them a try soon...

Thanks
 
 
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