In view of the article, this seems like a reasonable question to ask.
In view of the article, this seems like a reasonable question to ask.
ETX Capital
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Hi Ross
Without getting defensive, which of course there is no need for me to do, I would like to explain what we do at ETX.
We are an online spread betting and CFD trading platform. We operate in an industry which is very competitive and we try to make a difference by being fair and transparent to people. We hope our clients and future clients use that as one of the deciding factors on choosing us as their market maker.
We have a great platform and some great customers. We do a lot of business with a lot people. We do not accept every client that applys for an account at ETX Capital, nor do we do business with all of the Introducers that approach us.
We do not tell people where to trade, people tell us they would like to trade with us, or not, whatever the case may be. We satisfy ourselves that we remain compliant in all that we do and we justify ourselves to whoever asks us too.
What I cannot do is discuss specific clients. I have said this at least 3 times, and it hasn't changed. The same answer will always apply - if you want to know the answer to someone that isn't a representative of ETX Capital or a company other than ETX Capital then you'll need to ask them yourselves.
You have a decision to make of your own in view of that or any article. Your preorgative as a consumer is to spend your money where you choose. If you don't choose us because of your opinions then that is up to you, if you do then it is up to us to try to justify your faith in us with a good service. If we don't, then we'd expect you to go elsewhere. That is the nature of business.
Good luck in your quest for the truth. Don't let it become all consuming - theres much more fun to have in life than sitting in a bedroom, anonymous behind a computer screen knocking other people down all the time. Come up and see us, I'll show you around and introduce you to some people here, you'll see that we're all pretty decent and normal.
All the best
Rob.
Was that put down not supposed to be directed at me? In any case you sponsor Secker, your branding appears on his 'instructors' shirts etc. We are not asking about Seckers business we are asking about your sponsorship and support of them, its a question about ETX, not Secker.
Yeah, what did I say to deserve it?
The original question was about ETX's ties with Secker, when there seems to be more than few question marks hanging over his claims. What does that have to do with sitting in bedrooms, or whatever? Such defensiveness is a bit worrying.
tar
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Truth Seeker
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I'm done with this company. They come across very defensive and unprofessional for myself to be trusting them with my business. They don't care less about their customers or they would have never dumped the Advanced Pro Real Time charting and replaced it with the latest effort to take on IG with on the chart trading (no chance). I'm sure all they want are the new traders, not the experienced ones as we eat in to their bottom line obviously, which suggests to me they are not hedging enough if at all. I suggest all other traders do the same, don't just moan on here and do nothing, (they expect this to blow over) use your money to show them we mean business, after all, we are their income.
Why do you say that experienced traders are not what ETX wants and that they eat at their bottom line? I didn't quite understand that - I thought it is in the interests of ETX for you to do well on your trades so that you keep trading and they keep benefiting from the spread commission?
I must point out that I quite enjoy using ETX capital - though I am relatively new to trading. I use them for the Forex - I find their platform much easier to use than IG Index - and their spreads seem a little better? My only mild annoyance is that you can only stake in multiples of 10 per point whereas igIndex lets you use any number - but this is not a big deal when dealing with 400 points range approx.
As for the charts - I was a little frustrated when they switched but now I find them fine and a little more efficient in fact. Can you anyone advise on their forex spreads and financing vs the other sites?
My question though is why do you say that experienced traders are not what ETX wants and that they eat at their bottom line? I didn't quite unde
I must point out that I quite enjoy using ETX capital - though I am relatively new to trading. I use them for the Forex - I find their platform much easier to use than IG Index - and their spreads seem a little better? My only mild annoyance is that you can only stake in multiples of 10 per point whereas igIndex lets you use any number - but this is not a big deal when dealing with 400 points range approx.
As for the charts - I was a little frustrated when they switched but now I find them fine and a little more efficient in fact. Can you anyone advise on their forex spreads and financing vs the other sites?
My question though is why do you say that experienced traders are not what ETX wants and that they eat at their bottom line? I didn't quite unde
TinRoofCeilidh
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You are spot on: surely eTX wants as many clients as possible. Even if the client is only breaking even, eTX is sitting on a considerable pile of the client's capital; if the client is active (win or lose) they gain on the spreads and they are (presumably!) pretty good at hedging, whatever the success of clients.
As for the presence of eTX representatives on this forum, the more the merrier -at least when they declare their position. It is one way of voicing opinions in both directions.
As for charts, the new ones are OK: an improvement in some ways but, as someone who has spent some considerable time writing code for several indicators, I was a bit p...d off that this work was in vain at least within the single eTX platform. On realising that ProRealTime charts are from the same software house, I now use my indicators there (although am limited to end-of-day data) and found that the version of IT-FInance Advanced Charts provided for free in eTX looked pretty old compared to the charts here. However, it is a pain having to switch between platforms and I will see how things develop with eTX.
Truth Seeker
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The reasoning is simple, they profit from our losses as we are trading their artificial market.
TinRoofCeilidh
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We seem to be at an impasse: Truth Seeker (admittedly a "senior member" of T2W compared to my "rookie" status) is convinced of the evils of spread betting firms or at least those of eTX. Routinely ending his/her contributions with
Post your bad spread bet experiences here!
gives a clear indicator of his/her basic stance.
I may naive but I will stand by my earlier supposition that
"....eTX wants as many clients as possible...."
with the reasoning supplied until someone persuades me otherwise (with something more than simple assertion). I am certainly interested in the business model of spread betting firms so would welcome more input - perhaps a further contribution from an eTX rep?
tar
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In general big SB brokers wants you to make money so you stay longer with them , it is well known that most retail clients trades against the recent big move ( fade ) , let me give examples from Oanda order book : Pound : 64% of clients short at oanda and 71% of clients short at fxcm , Gold : 79% long , why is that because we've seen some movements last couple of days in one direction without a decent retracement Euro also 64% short at Fxcm , 58% short at Oanda , you can check Oanda's website and Fxcm's SSI ( clients positions ratio / Speculative Sentiment Index ) which will show you what i am talking about , now what happens ? usually and most of the time the price will continue , it is unlikely that all clients pick the exact bottom or top , infact most of the time clients add to their losing positions , now after the price moves further most brokers will hedge ( locking in ) a nice profit ( the difference between average clients net positions price and current price ) , plus the broker's edge ( the spread ) , at that point the broker has no interests in you losing money infact its better for them that you stay alive , however if you are scalping dozens of times a day picking points here and there the broker may notice you and take action like dealer referral ... etc , IMO i think the broker should let so called scalpers to continue their trading style and let the market take back what they took which will happen eventually at least for 95% of the scalpers , but small companies like capitalspreads cant wait for that to happen , so they refer scalpers to a dealer , just my 2 cents .
TinRoofCeilidh
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2 cents! I think that's at least 10 dollar's worth. Thanks for taking the time to put some flesh on the arguments and some data to back your suppositions. It's also fascinating for me (as a relative beginner) to see what drives the majority of retail traders.
Much appreciated.
Much appreciated.
If you look back through various threads you'll find plenty of info on the way spreadbet operates. The main point is that we (the clients) don't really care how the SB provider hedges or makes a profit, as long as they're providing a good service, as regards speed of order execution, spread, 'slippage', etc.
There's no doubt that SB is a world away from its murky beginnings and now offers a means of trading that is often preferable to share dealing, CFDs or DMA brokers. But it's still not without its problems, mainly in the way clients are treated if they make lots of short-term trades and are consistently profitable.
While it's true that SB companies want/need as many punters and throughput as possible, it's naive to think that this is because they just make money from taking the spread. It's accepted that most traders will lose, without any interference from the SB, and in the bad old days most of this went straight into the company coffers. Thanks to narrower spreads, more reliable platforms, speedier internet connections and competition, nowadays the odds have shifted much more in the punters' favour.
Nevertheless, it's still our duty to moan and complain when the bookie tries to move the goalposts or start the race without us!
IMO, DYOR, etc
barjon
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Seems to that you've got to weigh up the various costs. You'll probably pay a minimum commission with CFD.DMA brokers for small size, so SB is far cheaper for most things where the are giving reasonable spreads (net of the "commission" element of the spread). Conversely, for large size the SB costs far outweigh the other because it's always in the spread.
So I'm with CFD for the main stuff and SB for the tiddlers. Been using ETX lately and happy with them.
So I'm with CFD for the main stuff and SB for the tiddlers. Been using ETX lately and happy with them.
Is this feature available yet? Can't see it in any options at the moment.
ETX Capital
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Hi Blindeye
Yes, it's live on the advanced charts.
Go to Options and the last selection on the list is 'show period countdown' select this and you will see a countdown timer in the top right corner of the chart.
This works on all time frames except 1 second.
Good luck
Rob.
These lot Spread Betting Company comparison say that ETX Capital are the best spread betting broker if you want to bet low stakes i.e. for beginners
I am/was a total beginner. 12 months ago I knew absolutely nothing about trading. Never even tried sports spreadbetting. Still haven't. Although I don't consider myself an idiot, it took me a while to get my head around the concept of spreadbetting. That's how much of a newbie I was. I'm now almost expert at technical side although I've yet to prove I can beat myself...*
Anyway, last year I decided I had to learn how to trade after I started reading zerohedge and watched everyone get excited about the rising price of silver. I signed up to a number of sites. Of them all ETX Capital WAS the best looking and best designed site I tried out, 9/10. It's now 5/10 after the chart change.
This is the case EVEN though I didn't get the sign up offer that enticed me to try it out, which was disappointing. They had an offer for money back first 10 days of £50 or £100? Can't remember exactly what it was, all I know is I lost £40 within the time period and didn't get it back. I got a £6 "Credit Promotion" after three days or so, which didn't seem to make any sense, as if it was a completely different offer. I asked and they said it would get sorted, asked again, but nothing happened. Service was polite but I think I was forgotten about.
I think the special offer applied for 10 days after receipt of the confirmation letter, and the confirmation letter was misdated before I applied! So I had to write to ask whether the special offer applied to me because the date on the letter was wrong. I was told it did. In the end I never got it. Nethertheless I am still sure they are professional and trustworthy, simply on the basis of the brainpower and investment that looks to have gone into their site and its organization...
It's the fact they removed the old charts is what is more likely to stop me trading there. After ETX changed the charts I went back to Ladbrokes/Worldspreads (for my learning and occasional trades - in order to learn inexpensively I sat on my hands a lot). Now I think Finspreads is better overall, while Spreadex has my favourite, traditional chart. I'd rather the basic charts were still provided as an option at ETX and am interested in the rumour they are interested in acquiring Worldspread's technology. Those old charts were less impressive looking but far more flexible and user-friendly. The new charts are cumbersome and the price window is squashed.
*BTW this is my first post. I was about to start trading yesterday with my latest and most thoroughly tested system... at Ladbrokes, which runs Worldspreads. Fortunately as I believe I am now - in theory - so good I can begin from £50 I didn't lose that much.
Anyway, last year I decided I had to learn how to trade after I started reading zerohedge and watched everyone get excited about the rising price of silver. I signed up to a number of sites. Of them all ETX Capital WAS the best looking and best designed site I tried out, 9/10. It's now 5/10 after the chart change.
This is the case EVEN though I didn't get the sign up offer that enticed me to try it out, which was disappointing. They had an offer for money back first 10 days of £50 or £100? Can't remember exactly what it was, all I know is I lost £40 within the time period and didn't get it back. I got a £6 "Credit Promotion" after three days or so, which didn't seem to make any sense, as if it was a completely different offer. I asked and they said it would get sorted, asked again, but nothing happened. Service was polite but I think I was forgotten about.
I think the special offer applied for 10 days after receipt of the confirmation letter, and the confirmation letter was misdated before I applied! So I had to write to ask whether the special offer applied to me because the date on the letter was wrong. I was told it did. In the end I never got it. Nethertheless I am still sure they are professional and trustworthy, simply on the basis of the brainpower and investment that looks to have gone into their site and its organization...
It's the fact they removed the old charts is what is more likely to stop me trading there. After ETX changed the charts I went back to Ladbrokes/Worldspreads (for my learning and occasional trades - in order to learn inexpensively I sat on my hands a lot). Now I think Finspreads is better overall, while Spreadex has my favourite, traditional chart. I'd rather the basic charts were still provided as an option at ETX and am interested in the rumour they are interested in acquiring Worldspread's technology. Those old charts were less impressive looking but far more flexible and user-friendly. The new charts are cumbersome and the price window is squashed.
*BTW this is my first post. I was about to start trading yesterday with my latest and most thoroughly tested system... at Ladbrokes, which runs Worldspreads.
Fortunately as I believe I am now - in theory - so good I can begin from £50 I didn't lose that much.ETX Capital
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I am/was a total beginner. 12 months ago I knew absolutely nothing about trading. Never even tried sports spreadbetting. Still haven't. Although I don't consider myself an idiot, it took me a while to get my head around the concept of spreadbetting. That's how much of a newbie I was. I'm now almost expert at technical side although I've yet to prove I can beat myself...*
Anyway, last year I decided I had to learn how to trade after I started reading zerohedge and watched everyone get excited about the rising price of silver. I signed up to a number of sites. Of them all ETX Capital WAS the best looking and best designed site I tried out, 9/10. It's now 5/10 after the chart change.
This is the case EVEN though I didn't get the sign up offer that enticed me to try it out, which was disappointing. They had an offer for money back first 10 days of £50 or £100? Can't remember exactly what it was, all I know is I lost £40 within the time period and didn't get it back. I got a £6 "Credit Promotion" after three days or so, which didn't seem to make any sense, as if it was a completely different offer. I asked and they said it would get sorted, asked again, but nothing happened. Service was polite but I think I was forgotten about.
I think the special offer applied for 10 days after receipt of the confirmation letter, and the confirmation letter was misdated before I applied! So I had to write to ask whether the special offer applied to me because the date on the letter was wrong. I was told it did. In the end I never got it. Nethertheless I am still sure they are professional and trustworthy, simply on the basis of the brainpower and investment that looks to have gone into their site and its organization...
It's the fact they removed the old charts is what is more likely to stop me trading there. After ETX changed the charts I went back to Ladbrokes/Worldspreads (for my learning and occasional trades - in order to learn inexpensively I sat on my hands a lot). Now I think Finspreads is better overall, while Spreadex has my favourite, traditional chart. I'd rather the basic charts were still provided as an option at ETX and am interested in the rumour they are interested in acquiring Worldspread's technology. Those old charts were less impressive looking but far more flexible and user-friendly. The new charts are cumbersome and the price window is squashed.
*BTW this is my first post. I was about to start trading yesterday with my latest and most thoroughly tested system... at Ladbrokes, which runs Worldspreads.
ET
Thanks for the post.
If you could please send me a PM and let me know your name and account number I will look in to the history of what happened with your Silver trades and why the trading loss was not credited back to your account. I'm sure we'll be able to compromise with you to show some good faith.
Alternativly, send me an email directly at [email protected]
Our new charts have some extra functionality on them that our previous charts did not have. The feedback that we have had on them has been ever so encouraging and it is dissappointing to hear that you are not their biggest fan. We do offer a webinar on how to use the charts and I am sure that you would find that a very useful 45 minutes spent.
Drop me an email regarding the loss and anything else that you'd like to discuss with me.
Once again, thanks for the post and for all of your comments.
Good luck
Rob.
