ETX Capital is most famous for their CFD:s and their spread betting services, but they also offer binary options trading.
Based in London, ETX Capital is largely regulated by the UK Financial Conduct Authority (FCA). The control number is 124721. It should be noted however that binary options trading doesn’t fall under the auspices of the FCA.
Short facts about ETX Capital
|Welcome bonus||20% – 50% first deposit bonus, maximum welcome bonus is 5,000 GBP|
|Minimum deposit||100 GBP|
|Minimum trade||10 GBP|
|Maximum trade||5,000 GBP|
|Mobile trading app||Yes|
ETX Capital has a separate platform dedicated to binary options. Underlyings and option types are selected to the left. The price graph will then update itself automatically on the right hand side of the screen. You can adjust the expiry time manually. Above the price graph, you’ll find the stake level. The Call and Put buttons make the process of designing binary options quicker, and the strike price is always clearly displayed between the buttons.
Once the binary option is to your liking, hit Invest to confirm the trade. Your open position will be displayed in the Open Positions screen below the main window. At the price graph, you can continuously follow the status of the trade. If the colour is blue, the option is currently in the money. If the colour is red, the option is currently out of the money.
The Open Position screen is also where you find the current Sell value for your open position. You can close the position right away by accepting the sell price offered by ETX Capital.
Mobile trading app
There is a special mobile trading app available for binary options. You can not trade CFD:s in this app. The binary option trading app is available for both iOS and Android.
Underlyings for binary options
- Company shares
- Forex (currency pairs)
ETX Capital doesn’t offer trading in virtual markets. All binary options are linked to real markets and events around the world.
Binary option types
Examples of binary option types available at ETX Capital are high/low, one touch and spread high/low. The high low is available as short term, standard term and long term. The shortest term binary options will expire 60 seconds after purchase. Long term typically means that the binary option will expire at the end of the last trading session of the calendar month.
High/Low is the traditional binary option. Will the price be higher than the reference point when the option expires? Or will it be lower?
One Touch is a type of binary option that will immediately finish in the money if a certain price level is reached at any point during the lifetime of the option.
Spread High/Low is similar to the High/Low, but the strike price is slightly above or below the current price level. The payout for options that expire in the money is a nice 100 percent.
For most binary options at ETX Capital, the payout falls within the 75 percent – 80 percent span. Spread High/Low binary options pay 100 percent when they expire in the money.
Deposits & Withdrawals
Deposits can be made in many different currencies, including USD, GBP, EUR, CHF, CAD and JPY. The smallest possible deposit is 100 GBP or the equivalent in another currency.
The most commonly utilized transaction methods are credit cards, debit cards, bank transfer and wire transfer. Bank transfer withdrawals are typically processed in 2-3 days. Credit card and debit card withdrawals will normally take 3-4 days.
You can make up to four withdrawals per calender month without paying any withdrawal fee, which is a great service for ETX clients. From your 5th withdrawal within the same calender month, the withdrawal fee will be £10.
If you have money in your ETX account but haven’t made any trade during the last 120 days, EXT will start charging you monthly 15 GBP dormancy fee. This will continue until you start trading again or your funds have been depleted.