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Finding a broker who matches your needs while trading in the financial markets might be a challenging task, but we have an excellent choice for you today. Read our ETFinance Review to know why this broker can be a good choice for you.
Founded in 2018, ETFinance is emerging as a leading multi-asset and Forex broker, offering advanced and user-friendly platforms to traders across the world.
ETFinance is the trading name of Magnum FX (Cyprus) Ltd, a company registered with the Cyprus Securities and Exchange Commission (CySEC).
Through CFDs, the company offers commission-free trading on a wide range of markets, including Forex, Stocks, Indices, Commodities, and Cryptocurrencies.
Users can have access to the advanced MetaTrader trading platform, which is available on desktop, web, and mobile. The broker’s services and features are so exceptional, with outstanding educational support and round-the-clock customer care.
Being a newcomer in the industry, the broker has achieved new heights in a short period of time. It uses the well-known MT4 platform, one of the most used and award-winning trading platforms.
Before starting trading first, figure out – Is ETFinance Legit? The broker should be regulated and licensed by a global financial regulatory body.
For licence approval, brokerage companies must adhere to a number of norms and criteria set out by a recognized international body in order to conduct trading.
The goal of regulation is to safeguard ETFinance traders and to create a safe trading environment. Therefore, the importance of financial regulation and licence approval cannot be overstated.
In our ETFinance review, we searched all the data related to the broker’s regulation. We found that the broker is well-regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 359/18.
With this broker, Traders are protected by regulatory authorities through reimbursement systems that return the client’s investment if the broker goes bankrupt.
On the other hand, ETFinance offers services in over 194 countries, except the US. The sense is that it operates in 194 countries across Europe, Asia, Oceania, and Africa.
The UK, Germany, Australia, South Africa, Thailand, and China are among the major nations covered by the broker. The broker has almost 10,000 active clients to date.
The broker has a registered office at Agias Fylaxeos and 2, Zenonos Rossidi, Office 206, 4011, Limassol Cyprus.
Hence, all these points prove that ETFinance is a legitimate brokerage company.
The broker offers three different account kinds, ranging from silver to platinum.
The silver account best suits novice traders, who hesitate to invest much. Traders using this account will have a minimum spread of 0.07 and maximum leverage of 1:30.
The Gold account is for traders who understand the market well and want to advance their skills.
This account type has a minimum spread of 0.03, with a maximum leverage of 1:500 for professional accounts. Traders will receive a 50% discount on Swaps in addition to specialized account managers.
Platinum accounts are for traders who have advanced knowledge about the markets. This account type offers a minimum spread of 0.03, with a maximum leverage of 1:500. Traders will receive a 50% discount on Swaps in addition to specialized account managers.
ETFinance offers a free Demo Account to its customers. You may utilize this demo account without risking any real money or investment.
Before entering live trade, we strongly advise everyone, especially newcomers, to open a demo account. Trading has a great level of risk for your money, and if you don’t understand how trading works, you may lose a lot of money.
Before going live, we recommend practicing your trading strategy and improving your trading abilities.
The broker offers three trading accounts that allow traders to use the MetaTrader4 platform to trade. They also provide a free demo trading account, which is perfect for novice traders.
The account opening process on ETFinance is quick and hassle-free. In this ETFinance Review, have a look at the step-by-step process to open a live account.
Step 1: Click on the ‘Open Account’ option on the homepage.
Step 2: Now, fill out all the required personal information such as name, address, and Date of Birth.
Step 3: Following that, users are provided with a Part 1, Part 2, and Part 3 questionnaire that includes questions about education, employment position, net worth, trading funds, investment experience, and questions to evaluate the user’s understanding of financial trading, and tax information.
Step 4: Following this, users can upload a copy of a government-issued identity card for Proof of Identity and Proof of Address.
Step 5: Once an account gets verified, users can immediately deposit funds or log in to their ‘My Account’ using their registration details. Traders must make a deposit of at least $ 250 to trade on a live platform.
Note: Users may add new trading accounts, establish a test account, download appropriate trading platforms, and more through the ‘My Account section.
The broker provides CFDs on a wide range of tradable assets. The following are major instruments that are available for trade
Forex: Trade on 50+ currency pairs such as EURUSD, EURDKK AUDCHF, GBPJPY, USDZAR, and more.
Precious Metal: Trade CFDs on precious metals such as XAUUSD, XAGUSD, COPPER, PLATINUM, and more.
Indices: Trade CFD on over 20 indices, including CAC, FTSE, DAX, DOW, IBEX, AEX, VIX, and more.
Commodities: Trade on CFDs on popular commodities such as Sugar 11, Corn, Coffee, Natural Gas, Brent Crude Oil, and more.
Stocks: CFDs on 150+ popular stocks such as Apple, Amazon, Facebook, BMW, Daimler, BARCLAYS, Vodafone and more.
Cryptocurrency: Trade CFD on all major cryptocurrencies, including Bitcoin, Ethereum, and many more.
The broker offers a commission-free trading experience to its account holders. On other instruments, including commodities, it may charge a low commission.
The commission-free feature of this broker is the most appealing as it allows CFD Forex traders to trade as frequently as they like without incurring transaction costs.
The broker provides floating spreads on a variety of asset types, including Forex, stocks, commodities, indices, and cryptocurrency.
There is no ‘typical spread’ information available for particular asset classes because spreads vary depending on their liquidity source.
ETFinance doesn’t charge any fees on deposits. However, you may be subject to a specific fee when you withdraw funds from your account.
On the other hand, the broker doesn’t charge inactivity fees.
The broker offers a maximum level of leverage to help traders maximize their profits.
Forex: 1:30 (Retail) & 1:200 (Professional)
Stocks / Equities: 1:5 (Retail) & 1:40 (Professional)
Precious Metals:1:20 (Retail) & 1:100 (Professional)
Indices: 1:20 (Retail) & 1:100 (Professional)
Commodities: 1:10 (Retail) & 1:100 (Professional)
The broker provides a variety of payment processing options for deposits and withdrawals. In addition, you can use debit/credit cards and various e-wallets.
The payment processing time is 2 to 3 days. However, it is dependent on the method you choose. For example, withdrawing money from ETFinance might take a long period, ranging from 2 to 5 days.
There are no fees for deposits or withdrawals with this broker. However, your bank could charge you a transaction fee.
The broker promises to provide competitive platforms with handy features that keep traders focused and on the edge of their seats.
These platforms are user-friendly, straightforward, and powerful, making them suitable for every sort of trader. Below are three platforms available:
WebTrader is a platform that is simple to use and does not require any downloads. It’s a user-friendly platform with helpful features and important data that will keep traders on top of the market.
ETFinance’s WebTrader Platform provides an ideal trading experience for both novices and professionals that take financial trading to the next level.
It provides traders with 24-hour access to global markets through any device or a web browser with an internet connection.
Its user-friendly design allows traders to keep track of various assets and trends. As a result, it has the ability to do basic analysis and make an informed decision that will help it realize its earning potential.
It’s straightforward, but it’s also competitive. You can also easily monitor real-time pricing.
MetaTrader4 (MT4) is the most widely used trading platform. It is a multi-award-winning trading platform that is popular among both novice and experienced traders.
The platform comes with a slew of useful tools and features that offer you a leg up on the competition and help you achieve better trading outcomes.
It is accessible via both the web and mobile platforms. It is a simple, powerful, and user-friendly platform that millions of traders use regularly all around the world.
This platform gives traders access to all of ETFinance’s assets and opportunities, as well as comprehensive research tools that provide them market control. In addition, it offers a fantastic user interface that allows traders to keep track of a variety of assets.
Through ETFinance’s Mobile Trading (App) Platform, traders can trade from anywhere and at any time as long as they are connected to the internet. In addition, this platform is user-friendly and convenient.
It gives traders access to all worldwide markets in the palm of their hands. Traders can manage their positions in real-time. It has the same functions as the web platform.
For quick and efficient trading, it provides a user-friendly interface with one-tap operations. The program also keeps traders up to speed on the newest market developments by sending market data, updates, and analyses directly to their smartphones.
This platform is available for download for free on Google Playstore and App Store.
Education: The broker offers good educational support with high-quality videos covering a variety of topics, including basics of Forex trading, Fibonacci, Candlesticks, Indicators for forex trading, and many more.
Research: The broker offers basic research tools such as an Economic calendar.
The broker provides customer service in multiple languages through a variety of channels, including:
Email: [email protected]
Phone no. +8006 003 7004
As our ETFinance Review has come to an end, we can say that the broker is completely safe and legitimate. The broker’s tools, products, and services are really focused on its purpose of maximizing its clients’ financial potential.
This international broker is licensed by CySEC and takes great care to ensure the protection of its clients. We suggest this broker because of its commitment to its clients and its ability to provide high-quality goods and services. In addition, it is dependable and trustworthy.
This broker genuinely puts out the effort to bring out the best in their clients and the trading industry’s full potential. Therefore, we can confidently state that if you pick ETFinance as your broker, you will receive the best service possible.
The broker accepts a variety of funding options, including bank wire transfers, electronic wallets (eWallets), Skrill accounts, and Neteller for depositing funds in your account.
The Cyprus Securities and Exchange Commission (CySEC) regulates and monitors the broker, making it safe for traders.
The withdrawal process varies based on the method; however, it usually takes 2-5 days.
In order to start a trading account, the first step is to download the trading platform of your choosing after you’ve received your login information through email. Submit your identity documents for account verification, and make a deposit.
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ETFinance is a good choice for CFD trading. Various financial instruments are offered by the broker. MT 4 trading platform is available which is popular for its inbuilt tools. Beginners can improve their skills through their educational material such as Video, Webinars, etc.
Happy with ETFinance trading broker services. Multiple options are available for the withdrawal and deposition process. The broker will never force you to keep your profits in a trading account only. You can easily process withdrawal in their given time period.
As a beginner, I open an account on ETFinance. I dose not have any trading experience but with the help of their trading related articles, videos, etc my trading journey is going smoothly. They have a good range of financial assets and research tools.
I am satisfied with ETFinance trading facilities. The registration process is very easy and fast. Every high leverage is available for Gold and Platinum account holders. 24/5 customer support from 07:00 to 19:00 GMT is ready to solve your problems.
My trading experience with ETFinance is awesome. It takes only 5 to 10 minutes in the registration process. The broker is providing almost everything under one roof such as currencies pairs, metals, indices, and many more. The customer support term is always ready to solve your queries from Monday to Friday.
For me, The ETFinance is the best broker. They have a good range of CFDs. Top companies share are available which involves BMW, Facebook, etc. In addition to this, the broker offers major currencies pairs, commodities, and precious metals. You need to spend only 10 to 15 minutes on the account opening process.
It’s a very nice online trading platform. I never face any difficulties regarding funds withdrawal and deposits. They offer more than 350 tradeable assets along with major currencies pairs. They do not charge any commission for trading.
I think it’s great to do trading with ETFinance. I suddenly came to the website of ETfinance, I read all the details for the broker website about financial instruments, regulation, account types, commission, etc. After that, I open an account which only a few minutes. They offer MT 4 trading platform and 24/5 customer service.
I’m a happy customer of ETFinance, it has been a great support system at the beginning of my trading career. The trading conditions are great for newbies, there’s a lot of free useful information that the website and the staff provides.
ETFinance is a SCAM.
I was a victim, I was lured in with fake promises of high return, it’s funny how these thieves do this and no authority whatsoever tries to check their operations. I almost lost all my life savings until I reported them to ;Elytchargeback.con
I was only lucky that I reported quickly
ETFinance has practically the worst CFD Trading benefits, thanks to firstreplevir.com whose team helped recover my money from them. By the way, firstreplevir is a recovery company, they helped me recover my lost investments and also gave me good advice on future investment. Check them out at firstreplevir.com