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
Dukascopy
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 DUKASCOPY
XTB
10 /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 XTB
About

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

Dukascopy is regulated by The Swiss Bank and MIFID. Dukascopy has provided Forex, CFD, commodities, indices and stock trading services since 2004.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 20 years in business
  • Yes
  • Yes
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters One Broadgate, London. EC2M 2QS Geneva, Switzerland Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes No No
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 60 48
Commodities Offered 16 21
Stocks Offered 5000 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs Yes Yes Yes
IPO Yes No Yes
See all instruments

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

See all instruments

Losses can exceed deposits

See all instruments

77% 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 No
MT4 Mac Yes No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes Yes Yes
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms TraderPro SWFX Trader Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

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

Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, and Spanish

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

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

See platform & features

Losses can exceed deposits

See platform & features

77% 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 Dukascopy

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 No No
VIP account Yes No Yes
Fixed spreads Yes No 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

Losses can exceed deposits

See account options

77% 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 Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade None None 100 Lot
Min deposit $100 $5000 $1

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 No Yes
Skrill No No Yes
Payment processing time 1 business day Varies Same day if requested before 1PM
Withdrawal processing time 2-5 business days Varies Same day if requested before 1PM
See all funding options

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

See all funding options

Losses can exceed deposits

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number +44 (0) 20 7392 1494 41 227994848 44 2036953085
Live Chat No Yes Yes
Website https://www.etxcapital.com https://www.dukascopy.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips 1.8 pips + $10.00 0.1 pips
GBP/USD (Average: 1.1 pips) 1.2 pips 2.3 pips + $10.00 0.1 pips
USD/JPY (Average: 1.1 pips) 1.4 pips 1.7 pips + $10.00 0.1 pips
AUD/USD (Average: 0.8 pips) 1.4 pips 1.7 pips + $10.00 0.2 pips
USD/CHF (Average: 2.3 pips) 3.0 pips 1.7 pips + $10.00 0.2 pips
USD/CAD (Average: 2.9 pips) 2.6 pips 2.3 pips + $10.00 0.3 pips
NZD/USD (Average: 3.6 pips) 2.0 pips 2.5 pips + $10.00 0.3 pips
EUR/GBP (Average: 2.4 pips) 1.0 pips 1.4 pips + $10.00 0.1 pips
View all spreads

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

View all spreads

Losses can exceed deposits

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

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

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

View All Fees

Losses can exceed deposits

View All Fees

77% 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 01/10/2019.

All information collected from https://www.dukascopy.com/. Last updated on 01/10/2019.

All information collected from www.xtb.com. Last updated on 01/10/2019.

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.

Dukascopy is the broker designed for active traders, hedge funds, banks and professionals. Dukascopy allow you to trade both Forex and metals through the same platform. Dukascopy have focused on providing an attractive pricing model with spreads for popular forex pairs starting as low as 0.2 pips.

They provide instant execution on orders and offer a wide range of trading orders including stop-loss along with their 24 hour support 6 days a week. They provide a large variety of free financial information through their website, Dukascopy TV online, and an active online community. Dukascopy is a great choice for traders looking for a broker that provides binaries, CFD's and forex services.

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

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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ETX Capital or Dukascopy?

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, Dukascopy 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 to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

ETX Capital is regulated by Financial Conduct Authority, while Dukascopy is regulated by FINMA & FSA.

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

XTB are also regulated by the Financial Conduct Authority.

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 Dukascopy have been around for 21 years. Our third alternative broker, XTB, have been around for 17 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 Dukascopy 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 Dukascopy 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 Dukascopy 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 Dukascopy are based in Geneva, Switzerland .

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

If you’re looking to trade commodities like gold, silver or oil, ETX Capital may be a better fit as Dukascopy does not offer commodity trading.

ETX Capital and Dukascopy 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 Dukascopy offer this. Our alternative broker, XTB, 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 Dukascopy also allows scalping and hedging. You can trade with EAs (expert advisors) on both ETX Capital and Dukascopy.

In terms of risk management tools, neither ETX Capital or Dukascopy offers negative balance protection. 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

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 Dukascopy charges 0.10 points. Therefore, Dukascopy 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 Dukascopy?

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

Objectively, ETX Capital is more reliable based on our criteria above. ETX Capital has a wider range of instruments to trade. ETX Capital 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.