ETX Capital

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setanta

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

cheers

S
 
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.
 
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 )
 
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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Paul-B said:
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.
Click to expand...

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
 
theoracle said:
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
Click to expand...


Thanks, very useful.
 
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.
Click to expand...
 
theoracle 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.
Click to expand...

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.
 
Paul-B said:
Thanks for the comment. I'd appreciate it if you could explain why scalping with any SB company is generally unrewarding?
Click to expand...
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.
 
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
 
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.
 
Paul-B said:
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.
Click to expand...
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...
 
timsk said:
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.
Click to expand...
Some good reviews about ETX Capital, May give them a try soon...

Thanks
 
i use etx for about a year and i can give A- (sometimes problems with server, and if you have a open trade.........) cha cha
 
I am currently using a demo of ETX's platform, so far no complaints.
Trades seem to execute quite fast, prices seem accurate.
Cap spreads demo is delayed which is annoying- can't really test it properly, and as I am using candles to make trades, so find it unsatisfacory.
have opened account with IG, had lots of stuff in the mail "teaching me how to trade", that is good, but I am forced to fund account to place actual trades and test platform therefore I don't log in anymore.
Am using the etx demo platform, have spoken to the helpdesk a few times- they seem competent-
 
ETX Capital - Anyone used ?

Anyone who has experience from this broker? Their website sure looks delicious :)
Just makes you wanna click that "open account" button straight away. I searched the forum for this broker with no results, is there something I've missed about EXT capital?

"Stay away from" broker?

If anyone traded with these guys please share a comment.

Thanks.
 
setanta said:
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
Click to expand...
I use ETX. I use their platform because I scalp the e mini future contract and the ftse daily and i need to react quickly, their platform allows this.
My only grudge against them is that I notice when their is a large movement in any indice ( non farm payroll data comes out for example) i find there is a few second delay on their platform if your in a winning position. I dont use their charts ( crap) so i,m looking at 5 min/hourly charts and using their platform to place orders. There's a definite delay which they cant(wont) explain. I figure they have this ability to delay prices as they know during large movements, price is likely to retrace in their favour quickly.
That said I find it a good platform just watch out for large jumps in price and take your propfits quickly!
 
Anyone who's ever watched the market on a direct access platform when key economic data is released (or key players make big announcements etc.) will often see prices going completely haywire, making them untradeable to all but the very brave/stupid trader or the highly skilled pro' trader with state of the art kit. Consequently, It's quite fair and reasonable IMO that spread bet companies like ETX slow things down until the market itself calms down a tad and the reaction to the announcement has had time to filter through the system.
Tim.
 
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