ETX Capital

[Vasco da Banana]

They could simplify it by saying that in no circumstances are clients allowed to make a profit. I wonder whether the same T&Cs apply to scalpers who lose?

 

[gle101]

ETX one of the worst for slippage, in my experience, even when there didn't seem to be a reasonable excuse and the spreads were wider. Their scalping policy clearly goes against the intentions of MiFID. Vote with your feet.

Yes as always, one probably needs to find out personally by trading with them live. I also do not like this kind of trading restrictions. What surprise me is that they have it in print. Most of the others do not talk about it, but still implement it to a certain degree by different kinds of manipulation. Still I might give ETX a serious try, surely they will come to realize that this kind of time limits on trades will not be healthy to their Goodwill status?

 

[gle101]

They could simplify it by saying that in no circumstances are clients allowed to make a profit. I wonder whether the same T&Cs apply to scalpers who lose?

Extreme scalpers are not welcome with most of the SB companies with tight spread. I understand the reason for this, but they need to follow regulations at hand and tell unwanted clients that they cannot trade with them and close the account. This is OK by me, but manipulation on an individual basis is not.

 

[Vasco da Banana]

Extreme scalpers are not welcome with most of the SB companies with tight spread. I understand the reason for this, but they need to follow regulations at hand and tell unwanted clients that they cannot trade with them and close the account. This is OK by me, but manipulation on an individual basis is not.

Yes, it's the part about deliberately not telling the client what's happening that would annoy me. Another customer for CS, I suppose.

 

[PipStar]

Scalping Policy

11.3By providing fixed spreads and liquidity to you, where it is possible to do so, we try to help you trade in volatile global financial markets by giving you greater price stability. We do not provide fixed spreads and liquidity to enable Scalping and will deem any instance of Scalping to be a Manifest Error (for more information on the treatment of Manifest Errors please see that section of the standard customer Terms and Conditions). Scalping is considered a breach of your Terms and Conditions and may result in the immediate termination of your account and your access to our servers.

I don't often read brokers terms and conditions but I have never come across such rubbish. Scalping will be considered a "manifest error"??? What nonsense. You'd be mad to keep trading with an outfit with anything like that in their terms and conditions.

 

[ErnestC]

My question might be answered in the previous pages and my apologies for not manage to read all the 36 pages.

I'm looking for the charging detail (Is there any minimum commission?) and I can't find any charges and fees detail in the ETX website. Can anyone help me here?

Cheers

 

[hacks]

I don't often read brokers terms and conditions but I have never come across such rubbish. Scalping will be considered a "manifest error"??? What nonsense. You'd be mad to keep trading with an outfit with anything like that in their terms and conditions.

It's probably not legally binding, being an unfair term.

 

[rawrschach]

I don't often read brokers terms and conditions but I have never come across such rubbish. Scalping will be considered a "manifest error"??? What nonsense. You'd be mad to keep trading with an outfit with anything like that in their terms and conditions.

I'd say the opposite. Most bucket shops pretend they don't have a problem with scalping but cut you off if you make money; at least they're honest. If you want to scalp trade DMA.

I only use ETX for longer term trades in markets I don't have access to with DMA or CFD. They process withdrawals on the same day. No complaints here.

 

[rawrschach]

My question might be answered in the previous pages and my apologies for not manage to read all the 36 pages.

I'm looking for the charging detail (Is there any minimum commission?) and I can't find any charges and fees detail in the ETX website. Can anyone help me here?

Cheers

Charges are built into the prices they quote.

 

[gle101]

I'd say the opposite. Most bucket shops pretend they don't have a problem with scalping but cut you off if you make money; at least they're honest. If you want to scalp trade DMA.

I only use ETX for longer term trades in markets I don't have access to with DMA or CFD. They process withdrawals on the same day. No complaints here.

Yes you got a point, they might still be good for hedging. But we have to raise the awareness of the MiFID and to put contradicting clauses in the user agreement don't make them legal even if signed by a client.

 

[gle101]

By the way where is the ETX representative, he used to be around quite a lot.

 

[piggybridges]

how do you change the default trade size ?

 

[ETX Capital]

By the way where is the ETX representative, he used to be around quite a lot.

Still here gle albeit slightly war wounded..

As I said many moons ago I'm here to accept good and bad feedback about ETX Capital and try and make our platform a place where you would be proud to choose to trade, I'm not here to answer conspiracy theories that a certain part of this forum seems convinced takes place. I've always answered all questions in as honest a way as I can and I will continue to do so. But I won't keep going over the same ground. I want to be your broker and I want you to believe what I tell you. That is why I am here.

Genuine firms like us come here to try and be transparent and as long as we do that then there is value in us being here. Spreadbetting firms leaving forums is only going to make threads less accurate because we won't be here to declare our persepective on matters that you want answered.

Onwards and Upwards

Rob.

 

[ETX Capital]

how do you change the default trade size ?

Hi Piggybridges

The default trade size cannot be changed. To alter the trade size either over-type the amount you wish to trade or use the up/down arrown to the right of the 'amount' box.

I will ask our dev's if building a save setting for a bespoke default is possible in the short term.

Rob.

 

[gle101]

Still here gle albeit slightly war wounded..

As I said many moons ago I'm here to accept good and bad feedback about ETX Capital and try and make our platform a place where you would be proud to choose to trade, I'm not here to answer conspiracy theories that a certain part of this forum seems convinced takes place. I've always answered all questions in as honest a way as I can and I will continue to do so. But I won't keep going over the same ground. I want to be your broker and I want you to believe what I tell you. That is why I am here.

Genuine firms like us come here to try and be transparent and as long as we do that then there is value in us being here. Spreadbetting firms leaving forums is only going to make threads less accurate because we won't be here to declare our persepective on matters that you want answered.

Onwards and Upwards

Rob.

Hi Rob, thanks a lot for coming on board again.

 

[timsk]

Onwards and Upwards

Hi Rob,
One way to achieve this objective would be to bring your spread for the S&P in line with the 1 point spread you offer on the Dow.

Currently, it's 2 pts more than that offered by Capital Spreads. Or, in percentage terms: 66% wider. Huge difference! Any plans to reduce it anytime soon?
Tim.

 

[ETX Capital]

Hi Rob,
One way to achieve this objective would be to bring your spread for the S&P in line with the 1 point spread you offer on the Dow.

Currently, it's 2 pts more than that offered by Capital Spreads. Or, in percentage terms: 66% wider. Huge difference! Any plans to reduce it anytime soon?
Tim.

Hi Timsk

We could point to some spreads on the ETX Capital site where we are cheaper than Capital Spreads.. where does it end? No one spreadbet platform will be the tightest on everything and I have no plans to ever try and become that provider.

It is important to me that we are able to offer a product that gives the client a realistic chance of getting their deal done and making some money and at the same time giving ETX Capital a reasonable chance of making some money also. This is a business and we have our model and others have theirs and how they try and make their revenues is entirely their prerogative. I try and make mine by quoting a price in thousands of products that I am comfortable with and then getting out of your way and letting you deal with as little interference from us as possible.

We are cheaper on the S+P than other spreadbet firms and as you have pointed out, we are more expensive than others. A spreadbettor should be more sophisticated in their choice of a platform than just the spread. I can think of 1 or 2 spreadbet firms recently that have gone down the road of quoting zero spread and a fat lot of good it has done them.

I've asked the index guys to do some analysis on our S+P flow and see if there is any room for showing something tighter. I'll report back here if we're able to do that.

Rob

 

[timsk]

I've asked the index guys to do some analysis on our S+P flow and see if there is any room for showing something tighter. I'll report back here if we're able to do that.

Hi Rob,
Thanks for the swift reply.
I take your point and, if it works for you, then stick with it. And I accept fully your point about not offering ludicrously tight spreads for the sake of it and that there are other important issues that prospective customers would be wise to consider when choosing a spread bet provider. However, on the face of it, the spreads on the two products are waaaaaay out of sync - to the extent that I can't think why any ETX clients would want to trade the S&P in preference to the Dow. That's a rhetorical question/statement; your analysis of your order flow will soon tell you if I'm even half way correct in my assumption. Like I say, if you're happy with the disparity, it's your business and I understand that you must balance your best interests with those of your clients.
Tim.

 

[prosearch]

Hi Timsk

We could point to some spreads on the ETX Capital site where we are cheaper than Capital Spreads.. where does it end? No one spreadbet platform will be the tightest on everything and I have no plans to ever try and become that provider.

It is important to me that we are able to offer a product that gives the client a realistic chance of getting their deal done and making some money and at the same time giving ETX Capital a reasonable chance of making some money also. This is a business and we have our model and others have theirs and how they try and make their revenues is entirely their prerogative. I try and make mine by quoting a price in thousands of products that I am comfortable with and then getting out of your way and letting you deal with as little interference from us as possible.

We are cheaper on the S+P than other spreadbet firms and as you have pointed out, we are more expensive than others. A spreadbettor should be more sophisticated in their choice of a platform than just the spread. I can think of 1 or 2 spreadbet firms recently that have gone down the road of quoting zero spread and a fat lot of good it has done them.

I've asked the index guys to do some analysis on our S+P flow and see if there is any room for showing something tighter. I'll report back here if we're able to do that.

Rob

@Rob- looking at the S&P spread would be much appreciated, as i have been with ETX since the days of Tradeindex but CS spreads are much better I m considering migration.

 

[Vasco da Banana]

<< It is important to me that we are able to offer a product that gives the client a realistic chance of getting their deal done and making some money and at the same time giving ETX Capital a reasonable chance of making some money also. >>

Reading that, I had to fight back the tears.

To be slightly serious, you say that zero spreads did a fat lot of good for your competitors. WS was already in deep doo-doo when it started that offer, while the other unmentionable one actually made zero spreads work quite well (as long as punters didn't make a profit, of course), and probably attracted plenty of customers. Enticing clients and keeping them on board is one of the main problems for SB providers, isn't it?