ETFinance Review

ETFinance__original
4.3
Rated 4.3 out of 5
Excellent77%
Very good0%
Average8%
Poor8%
Terrible7%
ETFinance__original
4.3
Rated 4.3 out of 5
4.3 out of 5 stars (based on 13 reviews)
Excellent77%
Very good0%
Average8%
Poor8%
Terrible7%

ETFinance Review

71% of retail investor accounts lose money, …

ETFinance__original

ETFinance

4.3
Rated 4.3 out of 5

Overview

Before choosing a broker to embark on the path to the financial markets, it is important to know and have a clear overview of its services. This is where detailed reviews come in handy. In this series, we will do a detailed review of ETFinance, the European broker and sponsor of the Real Madrid Basketball Club.

The platform has been in the limelight ever since its inception in 2018, thanks to its standout features & customer-centric services. With its ever-increasing presence in the global markets, the broker seems to have developed trust among its clients. Let’s dig deep into this in-depth ETFinance review to have more clear information about the broker.

What Is ETFinance?

ETFinance is a leading multi-asset and Forex broker, offering advanced and user-friendly platforms to traders across the world since 2018.  The platform was launched by 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.

Is ETFinance Scam Or Legit?

Based on our findings from the ETFinance review, the broker is found to be well-regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 359/18.

On the other hand, the broker offers services in over 194 countries, with the UK, Germany, Australia, South Africa, Thailand, and China being among the major nations covered by the broker. The broker has almost 10,000 active clients to date.

Henceforth, the regulations and active clients’ trust in ETFinance makes it the legit and safest broker to trade with. 

Our recommendation: Trading at ETFinance Review

  • Regulated by Top-Tier Regulatory Watchdog – CySEC
  • Tightest Spreads starting from 0.03 Pips
  • Maximum Leverage Of Up to 1:200
  • Hassle-free & Convenient Deposit & Withdrawals
  • Dedicated Dealing Desk
4.3
Rated 4.3 out of 5
ETFinance__original

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Advantages and disadvantages of ETFinance Review

  • Provides quick execution
  • Excellent customer service 24/5
  • Maximum leverage up to 1:500
  • Tight spreads start from 0.03 points.
  • Commission-free trading
  • Advanced and User-friendly platform
  • Offers Demo Account
  • Access to quality educational material
  • Offers Islamic accounts to Muslim clients
  • MT5 platform not available
  • Relatively new broker with less experience in the industry
  • Demo account available for two weeks only

ETFinance Review: What Types of Accounts Does It Offer?

The broker offers three different account types, ranging from silver to platinum. Each account type has a distinct feature. So, let’s check out all the features of these available account types:

Silver Account

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. 

Features of Silver Account: 

  • Over 350 Assets available to trade
  • Tight Spreads
  • Zero commission on trading
  • Maximum leverage up to 1:500

Gold Account: 

The Gold account is for traders who understand the market well and want to advance their skills. 

Features of Gold Account: 

  • Over 350 Assets available to trade
  • Tight Spreads starting from 0.05 pips
  • Zero commission on trading
  • Maximum leverage up to 1:500
  • 25% rebate on Swap
  • Dedicated customer support
  • Research support
  • Educational support 
  • Hedging allowed
  • News Alert
  • Free VPS
  • Islamic Account feature

Platinum Account: 

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.

  • Over 350 Assets available to trade
  • Tight Spreads starting from 0.03 pips
  • Zero commission on trading
  • Maximum leverage up to 1:500
  • 50% rebate on Swap
  • Dedicated customer support
  • Hedging allowed
  • Research support
  • Educational support 
  • New Alert
  • Free VPS
  • Islamic Account feature

Demo Account: 

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.

How To Open An Account On ETFinance? 

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 sign into their ‘My Account’ using their ETFinance login 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.

Our recommendation: Trading at ETFinance Review

  • Regulated by Top-Tier Regulatory Watchdog – CySEC
  • Tightest Spreads starting from 0.03 Pips
  • Maximum Leverage Of Up to 1:200
  • Hassle-free & Convenient Deposit & Withdrawals
  • Dedicated Dealing Desk
4.3
Rated 4.3 out of 5
ETFinance__original

ETFinance Review: Major Trading Instruments Available

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.

ETFinance Fees, Commissions and Spreads

Commission: 

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.

Spreads: 

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.

Fees: 

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. 

ETFinance Review: Maximum Leverage

The broker offers a notable leverage ratio to help traders maximize their profits. 

  • Forex: 1:30 (Retail) & 1:200 (Professional)
  • Stocks: 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)

Deposit and Withdrawal 

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.

Payment methods available on ETFinance: 

  • Credit / Debit Card (VISA/MasterCard)
  • Wire transfer
  • VPAY
  • Skrill
  • Neteller
  • SSL

ETFinance Review: Trading Platforms

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
  • MetaTrader4 (MT4)
  • Mobile Trading (app)

WebTrader: 

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: 

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 and comprehensive research tools that provide them market control. In addition, it offers a fantastic user interface that allows traders to track various assets.

Company Details

Assets

Basics

  • Country: Cyprus
  • License: 359/18
  • Regulation: CySEC

Customer Service

Our recommendation: Trading at ETFinance Review

  • Regulated by Top-Tier Regulatory Watchdog – CySEC
  • Tightest Spreads starting from 0.03 Pips
  • Maximum Leverage Of Up to 1:200
  • Hassle-free & Convenient Deposit & Withdrawals
  • Dedicated Dealing Desk
4.3
Rated 4.3 out of 5
ETFinance__original

ETFinance App

Through ETFinance Mobile Trading App, 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. 

  • Options for trading with a single click
  • Compatibility with iOS and Android
  • LiveChatBot
  • Stop-Loss and Take-Profit features are automatically activated
  • Customer Support in several languages 

ETFinance Review: Educational and Research Support

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. 

Customer Support

The broker provides customer service in multiple languages through a variety of channels, including:

Conclusion: 

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 focused on maximizing its clients’ financial potential, per our ETFinanace Opinions. 

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, if you pick ETFinance as your broker, we can confidently state that 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.

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.

  • Click on the ‘Open Account’ option on the homepage.
  • Now, fill out all the required personal information such as name, address, and Date of Birth.
  • 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.
  • Now, users can upload a copy of a government-issued identity card for Proof of Identity and Proof of Address.
  • Once an account gets verified, users can immediately deposit funds or sign into their ‘My Account’ using their ETFinance login details.

The broker doesn’t charge any fees on deposits. Also, there are no inactivity fees charged by the broker. 

The broker offers trading platforms to the traders, which connects them to the global financial market. It ensures the quick and smooth buying and selling of underlying assets. For its services, the broker charges spread fees.

ETFinance App is the fastest and most comfortable way to execute market orders. The application offers the possibility of having the financial markets at hand and operating from anywhere.

Experiences
13

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