Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

ETX Capital
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT ETX CAPITAL
IronFX
8.6 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT IRONFX
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

ETX Capital is regulated by the Financial Conduct Authority. ETX Capital have provided Forex, CFDs, spread betting and social trading services since 2002.

IronFX is regulated by CySEC. IronFX have provided Forex trading services since 2010.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC and ASIC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters One Broadgate, London. EC2M 2QS Limassol, Cyprus Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No Yes
Social Trading Yes Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 60 120 59
Commodities Offered 16 0 16
Stocks Offered 5000 101 99
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones Yes No Yes
Dax Yes Yes Yes
Nikkei No No Yes
ETFs Yes No Yes
IPO Yes No Yes
See all instruments

79.6% of retail investor accounts lose money when trading CFDs with ETX

See all instruments

73.26% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No Yes
MT4 Mac Yes Yes Yes
WebTrader Yes Yes Yes
Mirror Trader Yes Yes Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms TraderPro No AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No No
Available Languages

English, French, Spanish, German, Polish, Czech, Greek and Mandarin

English, Bulgarian, Chinese, French, German, Greek, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Vietnamese, Arabic, Bengali, Urdu, Czech, Farsi, and Slovak

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

79.6% of retail investor accounts lose money when trading CFDs with ETX

See platform & features

73.26% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by ETX Capital and IronFX

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account No Yes Yes
Zero spread account No Yes No
VIP account Yes Yes Yes
Fixed spreads Yes Yes Yes
Variable spreads Yes Yes Yes
See account options

79.6% of retail investor accounts lose money when trading CFDs with ETX

See account options

73.26% of retail investor accounts lose money when trading CFDs with this provider

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping No Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access No Yes Yes
STP broker No Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade None None None
Min deposit $100 $500 $100

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time 1 business day Varies Varies
Withdrawal processing time 2-5 business days Varies Varies
See all funding options

79.6% of retail investor accounts lose money when trading CFDs with ETX

See all funding options

73.26% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, IR, CU, SD, SY, KR US, IR, CU, SD, SY, KR BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number +44 (0) 20 7392 1494 44(0) 203 282 7777 (44) (0) 8005200423
Live Chat No Yes Yes
Website https://www.etxcapital.com www.ironfx.com http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips Not offered 0.9 pips
GBP/USD (Average: 1.1 pips) 1.2 pips Not offered 1.6 pips
USD/JPY (Average: 1.1 pips) 1.4 pips Not offered 1.1 pips
AUD/USD (Average: 0.8 pips) 1.4 pips Not offered 1.1 pips
USD/CHF (Average: 2.3 pips) 3.0 pips Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) 2.6 pips Not offered 2.0 pips
NZD/USD (Average: 3.6 pips) 2.0 pips Not offered 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.0 pips Not offered 1.5 pips
View all spreads

79.6% of retail investor accounts lose money when trading CFDs with ETX

View all spreads

73.26% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission Yes No No
Deposit Fee No No No
Withdrawal Fee No Varies No
View All Fees

79.6% of retail investor accounts lose money when trading CFDs with ETX

View All Fees

73.26% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.etxcapital.com. Last updated on 01/12/2019.

All information collected from www.ironfx.com. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

Used by over 51,000 traders, ETX Capital are a well-established spread betting broker.

ETX Capital offer over 50 currency pairs, and are renowned for their tight spreads starting from 0.7 for EUR/USD (you can see their spreads here). They offer a range of platforms with fixed or variable spreads to suit your trading style.

ETX Capital were established in 2002 and have been servicing traders for over a decade. They are regulated by the UK's Financial Conduct Authority. You can start trading with ETX Capital here.

For more information about trading with ETX Capital, we have put together an indepth ETX Capital review with some of the pros and cons about this broker.

Founded in 2010, IronFX is considered to be one of the leading online Forex trading platforms. The first primary benefit of this firm is that more than 60 offices are located around the world and 45 different languages are spoken. IronFX is seen as one of the most versatile Forex portals, arising from the fact that numerous trading platforms are available. These include their own proprietary Web Trader system, the respected Meta Trader 4, A Personal Multiple Account manager (PMAM) and a multiple terminal system for those who wish to oversee several trading accounts within a single screen.

For more information about trading with IronFX, we have put together an indepth IronFX review with all the pros and cons about this broker.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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ETX Capital or IronFX?

Low spreads or ECN execution?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, ETX Capital is likely a better option. However, if you want a broker with ECN execution, IronFX may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider ETX Capital and IronFX to be equally reliable. We’ve broken down why below:

Who are they regulated by?

ETX Capital is regulated by Financial Conduct Authority, while IronFX is regulated by Financial Conduct Authority, CySEC and ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both ETX Capital and IronFX will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

ETX Capital has been around for 17 years, while IronFX have been around for 9 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both ETX Capital and IronFX use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on ETX Capital or IronFX in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both ETX Capital and IronFX are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

ETX Capital are based in One Broadgate, London. EC2M 2QS, while IronFX are based in Limassol, Cyprus .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both ETX Capital and IronFX offer forex trading. IronFX have a slightly larger variety of currency pairs with 120 pairs, compared to 60 offered by ETX Capital. Also, if you’re looking to trade cryptocurrencies, ETX Capital offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both ETX Capital and IronFX allow you to trade commodities like gold, silver and crude oil.

ETX Capital and IronFX both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both ETX Capital and IronFX offer this. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. ETX Capital, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

ETX Capital does not allow scalping but allows hedging. While IronFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both ETX Capital and IronFX.

In terms of risk management tools, ETX Capital doesn't offer negative balance protection, but IronFX does. Negative balance protection prevents you owing your broker more than you’ve deposited.

ETX Capital also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

ETX Capital accept Neteller while IronFX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, ETX Capital charges 0.60 points, while IronFX charges 1.00 points. Therefore, ETX Capital is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: ETX Capital or IronFX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, IronFX is more reliable based on our criteria above. ETX Capital has a wider range of instruments to trade. IronFX offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.