Broker - ETX Capital - good ? bad ?

[onesecond]

Hi All,
I'm former customer of Alpari.co.uk - but it went bankrupt, and ETX Capital (http://www.etxcapital.com/) bought back clients of Alpari - and they offer to stay with them (money from accounts in Alpari were transferred to ETX Capital)

so my question: Does any of You Guys/Girls had any experience with this broker ?
Any help/answer will be good - Thanks in advance

 

[TheForexGuy]

I don't know much about them, but I did my research and found Vantage FX Uk were a good broker - which are now changing their flag to Go Markets Uk.

If you don't know I've organised anyone who joins up with them gets a spread discount. They are my broker now and I am very happy with them. They have excellent customer service and are regulated by the FSA.

Spreads are already really cheap - there isn't many other boxes to tick.

If you want to find out more go here: The Forex Guy Broker Discount

P.S ETX does not own your money, they only bought Alpari UK's client database so they can pump you with sales pitches. Your money should still be in a 'holding pattern' until you decided whether you want it to go to them, or back in your bank account.

 

[hafizhanif84]

I think most of us here with vantagefx uk under tfg rebate discount..if u got problem with vantagefx, just ask tfg..maybe he can help

 

[danny]

hi,
i have money stuck in alpari too. Anyway as far as i am concern our money from alpari has not been transfered to etx. you need to tell etx to get the money transferred to your new account in etx if you so wish to trade with etx. I don't intend to, in the claim portal i choose the "request compensation from FSCS". So currently i'm still waiting for them to contact me

 

[TheForexGuy]

Your money should be in a segregated bank account, ETX should only be allowed to move your funds only WITH your permission - otherwise they can't touch it. What they will do is ring you and try sell you their service, and baiting you to you move over to them with offers.

I have a contact in London who should know more about this situation. I will reach out tonight and see what course of action you can take to get the funds back to you quicker.

 

[onesecond]

Thanks You All ,
@danny,
I've done it too ("request compensation from FSCS") and I'm waiting.... so in the mean time I was thinking - maybe this broker will be good after all
He is MM broker I think

 

[jasonshung]

Same as me. I am waiting my money back.

 

[erebus]

http://www.bestonlineforexbrokers.com/

 

[TheForexGuy]

Be careful with some of those recommendations, especially Hot Forex - which is regulated by an island of Africa. I wouldn't feel secure with my money with them.

 

[hafizhanif84]

i trust ASIC regulation more than any other regulations..

 

[danny]

Be careful with some of those recommendations, especially Hot Forex - which is regulated by an island of Africa. I wouldn't feel secure with my money with them.

for me, any broker that is not FCA regulated will automatically be rejected. Although the australian regulator (asic) looks reliable. The only thing is that, if lets say an australian regulated broker goes bankrupt, what option do we have? i mean are they going to be a process like the one we are experiencing with alpari? will the relevant authority assist us in getting our money back?

 

[TheForexGuy]

The ASIC and FCA are both trustworthy and secure regulating bodies. I prefer to have accounts with London brokers, because they are basically in the 'Forex Capital' and have access to really good liquidity and other resources.

Even being and Australian I choose London - We're too far out of the way of anything here, and I bet you Australian Brokers piggy back of London's liquidity channels.

Alpari UK was a good broker, they never did any wrong by my. They just were too exposed to CHF positions and it killed them, a 'dishonorable discharge'. I trust the FCA will do their thing and get all our money back to us but the moral of the story here is - if you weren't with a regulated broker you would never get your money back.

 

[THIAGO KREBS DE FREITAS]

Is it Vantage FX and Go market going to become one???
I asked that question on the live chat of Vantage FX and they said they wouldn't so why change to Go Markets UK??? Are there two Vantage FX??

 

[TheForexGuy]

You were talking to Vantage Australia, not Vantage Uk. Vantage UK are now re branded to Go Markets Uk.

Make sure you follow the links from my site so you end up at the right broker.

 

[danny]

and so i decided to go with etx because of that stupid "IBAN" on the claim portal. Can't click next until you fill up that part.

 

[TheForexGuy]

You can always take your money out from the ETX account after you get the money transferred in there if that's quicker.

 

[SteveB]

ETX, Don't you just love them.

 

[TheForexGuy]

Please tell me you were long for that big slippage spike.

 

[Kenny Kristo]

Unfortunately I have never heard about this company, so can’t comment whether it’s good or not. At the moment I am working with Nova FX broker where I can say it’s the best company and we can blindly trust them while they also are regulated which I believe should be the first thing to check with any broker since without this it gives the company easy chance to scam traders and there are many who don’t do much checking prior to starting.

 

[davidson333]

I have no experience of trading with etx capital but i have account with TRADESTO forex broker. I am trading with them from 6 months and have no problem. They have good bonus and best system of withdrawal and deposit money. They offer to trade scalping,hedging and EA. Also available in over 30 languages with base currency support for USD and SGD, the MT4 platform works well for traders of any experience level or nationality.