ETFinance

ETFinance

ETFinance Review 2021: ETFinance is a 2018 started broker based in Cyprus, which works to provide trading products and services...
  • 250

    Min Deposit

  • 0.05

    Min Spread

  • 2018

    year

  • 11K

    Customer

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Overall Ratings

4.1

0 Ratings & 0 Reviews

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A Brief History

ETFinance Review 2021: ETFinance is a 2018 started broker based in Cyprus, which works to provide trading products and services to its clients. The broker offers tight competitive prices and is also the official sponsor of the Real Madrid basketball team. The company doesn’t charge any commission on trades and provides the globally used trading platform, MetaTrader 4. Moreover, the firm’s site is accessible via mobile, web, and desktop and offers excellent customer service.

ETfinance, a trading name of Magnum FX Ltd., is a CySEC regulated venture with license number 359/18. Cyprus Securities & Exchange Commission is a top governing body of the world. Furthermore, the lucrative educational library would impress the traders of every level, i.e. both professional & advanced.

Is ETFinance Review: Scam or Safe?

ETFinance is a CFD broker, starting operations in 2018, and is a Magnum FX Ltd trading name. The company is registered in Cyprus with registration number HE 360548.

The firm is also licensed with top financial bodies, CySEC, with license number 359/18. The Cyprus Securities & Exchange Commission (CySEC) works above the brokers to protect the clients’ interest. The governing body has strict guidelines that every trading site must follow; otherwise, the broker might lose its license.

Moreover, all the clients with brokerage firm are protected under the no negative balance policy and Investor Compensation Fund (ICF). All the users’ account money is kept in segregated accounts of top national banks, and the firm also follows the EU’s MiFID regulations. Every clients’ fund is insured up to 20,000 euros, and the broker doesn’t have any right to use traders’ money in cases like insolvency.

ETFinance Review: Account Types

The ET Finance broker offers three different kinds of account types: silver, gold, and platinum. Each type is suitable for a different level of trader, starting from beginners to advanced investors. The accounts also vary based on the service provided, like fees, spreads, discounts, and more. Here are the details of each type:

Silver

Silver account is made customised for beginners, keeping in mind the services they’ll need. It includes full 10-hour customer support, 750+ financial instruments, and tight spreads, starting from 0.07 pips. The maximum leverage provided is 1:30.

Gold

The account is suitable for mid-level traders who have cleared their foundation and looking to trade at the next level. The spreads get better, the leverage increases, and a swap discount of 25% is offered with this type. Margin goes as high as 1:400/500 for trading, and a dedicated account manager is also assigned. Further, features like webinars, seminars, videos, and hedging work like a cherry on the cake. The minimum spread charge is 0.05 pip.

Platinum

A platinum account has everything a trader would ever need. The account is suitable for experienced, advance level investors who are looking for high-quality features. The type includes every gold and silver account and above that consists of free VPS, news alerts, a 50% swap discount, and tight spreads starting from 0.03 pips. However, there might be some commission on trading as the spreads are very low.

Apart from these accounts, the broker offers a demo and an Islamic account. The demo account is useful for practice, i.e. to experience real-time trading and test the brokerage firm’s services. Islamic account is provided to all Muslim citizens and is exempted from providing interest. However, many brokers charge these interest in swap charges, but ET finance doesn’t have any such costs.

ETFinance Review: Trading Platform

ETfinance is offering widely used MetaTrader4, which provides services like:

– One-Click Trading

– Customisable, Simple to use UX & UI

– Supports 35+ languages,

– Several Tools for Risk Management

– Bid and ask prices trading, real-time,

– 24+ Drawing Tools for Examination

– Access to the MQL market allows downloading several indicators, EAs, signals, etc.

– Nine-time frame charts, accessible for 1 min to 1 month.

– 30+ Technical Indicators, increasable with the help of plugins.

The trading platform ETfinance MetaTrader4 is available on mobile, web, and desktop versions. Moreover, the platform is free to use and developed by a Russian company, MetaQuotes Software Corporation. Note that almost every right CFD/forex brokerage firm in Europe uses MT4.

Market Products

ETfinance offers many financial instruments for trading from markets like stocks, forex, commodities, and more. There are over 350+ trading assets, which are accessible without any commission. Here are some tradable assets:

Shares: More than 150 assets, including Amazon, Facebook, BMW, Barclays, Apple, Vodafone, Daimler, etc.

Forex: Top major, exotic, and minor pairs including EUR/USD, USD/ZAR, GBP/JPY, EUR/DKK, AUD/CHF, and 45+ more.

Commodities: 17+, including corn, coffee, sugar, crude oil, natural gas, etc.

Metals: XAU/USD, platinum, gold, silver, copper, and more.

Indices: 20+ index available for trading like FTSE, DAX, Dow Jones, AEX, IBEX, CAC, VIX, etc.

The broker solely earns from spreads that are at par with industry levels. The average forex spread is two pips for the EUR/USD pair.

ETFinance Review: Account Opening

Opening an account with ETFinance is simple and straightforward, whether live, demo or Islamic account. The processing time is approximately 15-30 minutes. The process involves:

– Go to the ETFinance official website.

– Click on the “Open Account” option.

– Fill in the Registration Page and all the required details.

– Upload Documents for verification

– Start trading

The broker would take some personal, financial information, and documents for verifying the clients’ identity. Once the verification is done, deposit your funds and start trading. The five-step process is easy to understand for anyone in the trading world.

Spreads & Charges

There is a commission on trading financial instruments with an ETfinance broker. As told, the firm solely earns from spreads on different assets. The charges can vary, and the spreads float as per account type too. However, for reference, here are some spreads from ET finance on some instruments.

EUR/USD: starting from 2 pips

USD/CHF: starting from 2 pips

NZD/USD: starting from 3 pips

Gold: starting from 6 pip

Dow Jones 30 (US Index): starting from 2 pips

ETFinance Review: Deposit and Withdrawal Options

ETfinance deposit and withdrawal services are at par with industry averages, with a wide variety of payment options available. It includes bank wire transfer, cards (debit and credit both), and E-wallets like Skrill, Neteller, etc.

Payment processing time is instant for deposits and 2-3 days for withdrawals. Moreover, the process to add funds is quick, which includes the following steps:

– Visit the Official website.

– Go to “My Account” option.

– Select deposit funds

After that, choose the desired option and go with your bank proceedings. The withdrawable process is very much similar but requires some crucial documents like account statements and IBAN.

Note that the funds ‘take out’ requests made after 11 am GMT would be processed the next day. Further, the broker might also charge a penalty of 50 euros on withdrawing if there are less than two trading activities before the request.

Leverage

ETfinance offers high leverage to users but limits the margin according to account type. The details are as follows:

Silver Account: 1:30 maximum margin

Gold Account: 1:30 for retail investors, 1:400/500 for professional account holders

Platinum Account: 1:30 for retail investors, 1:400/500 for professional account holders

Research

Several ETFinance research tools aid users in making better decisions regarding trading and entry/exit points. Tools include earnings, economic calendar, market and news analysis by experts, etc.

The earnings calendar features significant dates of all the pioneer companies like Apple Inc., which will announce their financial statements.

ETFinance Review: Customer Service

ETfinance customer support service performed above average compared to industry counterparts, with executives delivering 24/5 to all the users. Here are some details about the same:

Email: [email protected]

Telephone: +35725359939 / +80060037004

Web: Contact Us Form

Live Chat: Monday to Friday, from 07:00 to 19:00 GMT.

Apart from this, the response time was fast, and the assistants were rational and logical in answering. One can also request a call back if required.

Education

ETFinance broker offers useful education material to all the users for free. The content is helpful for both beginners as well as advanced traders. The portal is easy to understand & navigate for everyone. The educational content includes:

Videos: Short Animations to cover basics

Webinars: Intensive workshops on the internet to cover significant topics

Seminars: Offline workshops for prominent traders

E-books: Books to clear dedicated topics like candlestick charts, forex indicators, MT4, etc.

Courses: Designed courses to cover markets such as crypto, forex, commodities, and more.

Articles: Blogs covering relevant, trending fields.

Does ETFinance broker specialise in forex trading?

Yes.

Is there a mobile app option available on ETFinance?

Yes, a broker can find the mobile app option and trade through it. The options available on it are akin to

Which regulatory body regulates ETFinance?

Cyprus securities and exchange regulates ETFinance broker.

How are the customer support services on ETFinance?

They are the best in the industry.

What’s the email address of ETFinance?

The email address is [email protected].

What are the deposit requirements?

It is a minimum of USD 250.

What are the trading skills required to trade CFDs?

One needs to be experienced in the market and should know to use various trading options.

Does CFD trading work on ETFinance?

Yes, it works.

How to make phone calls to ETFinance?

For making phone calls, dial +8006 003 7004.

What are the types of trading platforms available on ETFinance?

The available trading platforms on ETFinance are:- MetaTrader 4, WebTrader and mobile app.

Which is the best trading account on ETFinance?

Platinum is the best account for professionals, and for a novice trader, it is Silver.

What kinds of trading services is ETFinance providing?

ETFinance is offering forex trading, commodity trading, stock trading etc., to its clients.

Types of currency pairs available on ETFinance?

The top currency pairs available are:- AUD/USD, EUR/USD, GBP/USD etc.

How is the trading experience in ETFinance?

It is magnifying and comforting for all traders. You can easily create a trading account, make deposits, read reviews, trade different assets, invest money in stocks, CFDs, forex, commodities etc.

Is ETFinance available in the United Kingdom?

Currently, it is not.

How the facility of stop-loss benefits traders on the website?

A trader can apply different trading services, buy and sell assets, invest money, perform the leverage technique and indulge in any trading activity. All can accommodate these things through a stop-loss. A trader cannot lose money by applying it.

ETFinance is regulated by which authority?

CySEC (securities and exchange commission) regulates ETFinance.

The parent company of ETFinance

Magnum Fx Cyprus LTD operates the broker.

Is ETFinance a trustworthy broker?

The broker is regulated by the Cyprus based CySEC, has a license and registration numbers. Thus, a trader can trust it.

How are trading conditions on ETFinance, and can a trader lose money on it?

The trading conditions here are conducive to traders. Clients cannot lose money if they listen to experts’ views and avoid unnecessary actions in the volatile market of forex, stocks, cryptocurrencies etc.

What’s the registered address of ETFinance?

Its registered address is the KPMG building, 2nd floor, 1 Agias Fylaxeos Street, Office 201, Limassol, Cyprus.

The Bottom Line

Overall, ETFinance is a trustable brokerage firm, operating since 2018. The company is licensed and thus safe. Moreover, everyone’s data & information is secured with their robust IT tech security, which uses advancements like SSL & encryption at every level.

Apart from it, the broker has been able to win several awards in a short time. The list of awards include:

Customer Service 2020 by ADVFN

Best Forex CFD Provider by World Finance

Best Forex Broker Overall 2020 by Brokercheck.es

However, note that the trading site does not offer any bonus offer to promote or increase their user base. The company is abiding by EU regulations which bear to use promotional offers for attracting clients.

Thus, if you’re someone looking for an authentic broker with competitive rates and several features, ETfinance is a good alternative.

What does Cyprus securities and exchange do?

It regulates ETFinance.

Pros

Cons

Costs & Fees
5

Leverage

ETfinance offers high leverage to users but limits the margin according to account type. The details are as follows:

Silver Account: 1:30 maximum margin
Gold Account: 1:30 for retail investors, 1:400/500 for professional account holders
Platinum Account: 1:30 for retail investors, 1:400/500 for professional account holders

Spreads & Charges

There is commission on trading financial instruments with ETfinance broker. As told, the firm solely earns from spreads on different assets. The charges can vary, and the spreads float as per account type too. However, for reference, here are some spreads from ET finance on some instruments.

EUR/USD: starting from 2 pips
USD/CHF: starting from 2 pips
NZD/USD: starting from 3 pips
Gold: starting from 6 pip
Dow Jones 30 (US Index): starting from 2 pips

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    Excellent services and offers, moreover, the broker's educational tutorials is super useful for traders
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    I'm skilled in trade, and ETFinance fits m perfectly. There are numerous useful instruments. Algorithms are great to perform instant transactions. I often use leverage when trading crypto. Broker created an excellent environment for online trading.
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  5. Nathan

    ETFinance prepared excellent function for platform to trade stocks and forex online. I chose Platinum account plan and got full-service package.
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  6. Paulina

    I have been working with Etfinance for a long time. In general, I have already learned how to use all the tools correctly and now it turns out to earn at least $ 500 a month, which, as an additional source of income, makes me very happy
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    Wide choice of commodity products is available on ETFinance platform. Commodity market is the safest tool for me. Broker provides leverage for every commodity products.
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  8. Robert

    Etfinance is not perfect, but a pretty good broker. I miss a few tools, and a couple of little things, but in general, the impressions are positive. I think some things can definitely be improved, but otherwise, trading is quite pleasant.
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  9. Doris Marsh

    Highly recommend ETFinance. Platform is super handy and contains all the necessary graphs. The interface is intuitive. It is not my first broker, so I can compare. ETFinance deserves my attention.
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    ETFinance is a great broker for beginners. It provides educational articles and a dedicated account manager. I always get first-class assistance.
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    ETFinance has no special features. Forex, commodity, stock markets are obtainable. However, the withdrawal process is easy and takes only several days. I traded on ETFinance platform for 7 months and satisfied a lot.
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    The broker is reliable, based on my experience. There is first-class customer support. I want to note, that leverage is super powerful and helps me a lot. In general, ETFinance is a good broker for me.
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  17. Dawn Unay

    I would like to try this trading please Help!😊
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