ETX Binary - Review and Comments
General Overview for ETX Binary
ETX Capital Binary is one branch of the well known ETX Capital Group, that has been in business since 1965. The firm changed their name over the course of several decades, in part due to new partnerships and the need to rise more capital and grow. ETX Capital Binary was established in 2014, to cater to the rising needs of digital option traders. The firm is not new, as they are backed up by a serious company with a long standing track record. Since ETX Capital Binary is part of the ETX Capital Group, they are subject to the same strict regulations set by the FSA (Financial Services Authority in London). They have to uphold strict auditing and bookkeeping rules and are also forced to keep customer funds separated from company funds. This gives traders another level of security. The registration number with the Financial Services Authority in London is: 124721. This brokers is based in London and offers a wide array of services in the financial markets. The digital options division of ETX started on a strong ground and benefited from the technical knowledge and experience of the parent company.
Trading Platform and Software Review of ETX Binary
Digital Options traders look for different things in a trading platform, then Forex or Commodities traders. They need a great amount of investment vehicles, a good choice of trading times and high speed. Most Digital Options trading platforms don’t offer technical or graphical analysis tools and with ETX Capital Binary, this is not different. They graphical interface is clean and clearly arranged. It is very easy to switch between trading instruments and also to choose different ending times. Traders can trade with one click and also switch easily between Put and Call Options. The chart will show all the open positions and even show closed positions from active trading sessions, that have expired. It is really easy to trade digital options with ETX Capital Binary. The platform execution time is fast and fluid. The time frames go from 30 seconds, 60 seconds, 3 minutes, 5 minutes and up to longer time frames like one hour and end of the day time frames. Traders are able to trade with the classical one touch, high low, spread and range options. Everything is covered here and the execution is among the best in this industry.
Spreads, Transaction Costs and Margins for ETX Binary
A new account will only require a minimum deposit of 100 £/€/$ and the bare minimum to make one trade is 15 £/€/$. This is good news, as traders can start getting experience, without risking big amounts of money. There are no commissions or transaction costs with digital options. The broker builds a spread into the pricing structure and this is already accounted into the price of a trading instrument. Returns depend on the trading instrument and range from 80% to 100%.
Deposit and Withdrawal Information for ETX Binary
As this is a sub-division of the ETX Capital Group in London, the same rules for deposits and withdrawals apply for the Digital Options broker. The deposit methods are according to industry standards. Clients have the possibility to deposit by credit card, through wire transfer, calling by phone or even with a debit card. ETX Capital Binary offers several options to obtain a bonus, depending on the deposit amount. There are special promotions and they can change, depending on the current marketing campaign. At the time of this writing, there is the possibility to receive a 20 £/€/$ free deposit bonus or 100 £/€/$ for the first 100 £/€/$ deposit. The bonuses go up to 3.750 £/€/$. Clients have to be careful, before claiming a bonus, as these will limit the withdrawal capacity of the account. If a bonus was used to trade, then the customer must close at least 10 trades within 60 calendar days. There is a requirement for a minimum deposit of at least 100 £/€/$.
Withdrawal can only be made to a Credit Card or by Wire transfer. If the Withdrawal amount is above 100 £/€/$, then the transfer will be cost free. Customers can have up to 5 cost free wire transfers per month.
Special Features of ETX Binary
Trading Digital Options is not easy. This can be a high speed business and traders will need all the help that there is. ETX Capital Binary has one neat feature. Traders can constantly see how the position is affected by price changes. If the position is in the money, then the platform will show this graphically and also showing the probable gains in terms of money value and also expressed with a percentage number. If the price movement is putting the position at risk, then the data will be updated accordingly and traders have the chance to close the position before expiring! This is an important feature, as it allows a trader to re-assess their analysis and to get rid of losing positions and still be in the money or at least break even. Most Digital Options brokers do not allow you to close or change a position within the current trading session.
Final Observations and Comments about ETX Binary
Digital Options trading has been gaining popularity for the past few years. There are many new shops opening and trying to get a part of this still growing market. One advantage that speaks for ETX Capital Binary is that they are not a new trading firm. They are backed up by a strong trading firm, investors and the London Stock Exchange. This puts ETX Capital Binary immediately on the top of the line, among Digital Options Brokers. We like the fact, that traders benefit from all the other tools and services that are also available to institutional and professional traders. This is one of the best Digital Options Brokers and is recommended by us.