Read this ETfinance review before opening your account. Is this a Scam or Reliable Forex Broker? Find out more with AtoZ Markets Forex broker review of ETFinance.
ETFinance is a STP broker which is based in the EU. The Broker is licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC). This broker offers a lot of forex pairs and CFDs on its MetaTrader4 platform. Therefore, if you are curious about their offer, you may check the following review for details.
We have brought out an extensive review of the company and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders.
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For the above mentioned, we stand on our toes checking all the ins and outs in a broker's business history, biography, and reputation. The very same standards apply in the case of this ETFinance broker review. Please go through this article on how we conduct our broker reviews.
ETFinance is an online Forex & other CFDs trading broker based in Cyprus. It is operated by Magnum FX (Cyprus) Ltd which is a leading Investment Firm of Cyprus. This company is regulated by the Cyprus Securities and Exchange Commission (CySEC). The brokerage offers CFDs trading opportunity on a range of products including Forex, stocks and shares, commodities, indices and Cryptocurrencies.
ETFinance allows customers to trade easily in a variety of CFD products. Besides Forex and Stocks, it also offers commodity trading include oil, precious metals, and agricultural assets. However, popular indices such as the S&P 500, FTSE 100 and DOW30 can also be traded via CFDs. It allows the market access 24/7, and it is easy to sign up for an account, with choices of a retail or professional account.
As a relatively new brokerage, it is normal that ETFinance has not yet achieved awards within the industry. This may change in the future, as the broker got everything needed to establish a quality brokerage. It provides the famous forex trading platform MT4 as a trading platform. MetaTrader 4 platform is well-known in the trading world and won awards.
Pros & Cons
- Wide range of instruments available to trade as CFDs
- Regulated and licensed, with high-level security in place
- Choice of quality trading platforms, including MT4
- Enormous educational resources are available.
- An Islamic account is available for Muslims.
- A relatively young company with few reviews and awards
- The demo account is restricted to only two weeks
ETFinance is considered safe as it is regulated by the Cyprus Securities and Exchange Commission (CySEC). Any fund invested in ETFinance accounts by traders is held in a segregated bank account. As extra security, ETFinance uses tier-1 banks for this where we know that it is the official measure of a bank’s financial health and strength.
ETFinance offers three different platforms to serve the needs of different traders that include the world-famous MT4 platform. Moreover, traders can trade from mobile or website through any devices.
Their WebTrader platform is web-based and may be accessed from any compatible browser. This is often a cutting-edge platform that gives a superb trading experience. The platform incorporates a spread of technical indicators and other trading tools, with an easy and highly intuitive interface. There's also a chance to check the WebTrader platform by opening a demo account.
Besides, simple navigation and orientation, it also provides trading Cubes and Visual Trends that help traders to make a better analysis.
The traders who are already using the ever-popular MetaTrader 4 platform, there's no got to switch. The MT4 platform is also available at ETFinance to be used on both desktop and mobile devices. It includes a wide selection of technical indicators, features and integrated tools, and auto trading facilities. ETFinance also presents easy mobile trading via a well-designed mobile app, which is out there for iOS and Android devices. The free mobile app provides a superb user experience to traders. However, traders should remember that the browser-based WebTrader platform works on any device, so not all mobile traders will find the app necessary.
ETFinance has three account types, ranging for beginner to advanced traders.
Silver Account is suitable for Newcomers in Forex and Stock trading. Under this account, traders will have a minimum of 0.07 spreads with 1:30 maximum leverage. Customer support is available. Full 10-hour support from 10 am to 8 pm GMT for traders under this account type.
Gold account is designed for traders who know a lot about the market and willing to take the skill to the next level. The minimum spread for this account type is 0.05 and maximum leverage is 1:500 for professional accounts. Traders will have a dedicated account manager with lots of videos and webinars.
Platinum account is for traders to get the additional tools fit for a well-seasoned trader. The minimum spread for this account type is 0.03, with maximum leverage is 1:500. Besides dedicated account managers, traders will have a 50% discount on SWAPs.
ETFinance traders don't get to have a blockchain wallet to shop for Bitcoin. They will trade CFDs on cryptocurrencies like all currencies.
ETFinance makes Cryptocurrency CFD trading simple and user-friendly to traders of each level. Allowing to form their moves on a fast-paced market with dramatic swings in prices. It also provides technical analysis tools for all instruments, including Cryptocurrencies that assist traders in identifying a possible opportunity and become a more skillful trader.
ETFinance charge no trading fees or commissions on Forex CFD trading. However, it takes a low commissions on other instruments like commodities. The main aim of the broker is to earn profit from the spread. ETFinance offers floating spreads; therefore, the cost of the trading is not fixed. However, the spread of this Broker is not much higher compared to the sector average.
Current spreads for every available currency pair is available on the ETFinance website on the Live Pricing page. The most attractive feature on this broker is the commission-free model, which means CFD Forex traders can trade as frequently without paying transaction fees. Moreover, this broker does not charge any transaction fees for any deposit/ withdrawal through Neteller and Skrill.
ETFinance does provide an in-depth video on demand (VOD) library, offering basic and advanced trading tips to traders. Therefore the customer service section itself is certainly satisfactory.
There are options to connect with customer support staff by phone or email, also as via the very convenient and always popular live chat. Customer support staff are helpful, polite and knowledgeable, and answer email within a couple of hours. However, the customer support is out there 24 hours each day, Monday to Friday. On the other hand, the telephone line is manned from 7 am to 7 pm GMT, throughout the trading week.
ETFinance may be a branded online brokerage owned by Magnum FX (Cyprus) Ltd, which may be a leading Cyprus investment company. The corporation is fully licensed and controlled by the Cyprus Securities and Exchange Commission (CySEC).
ETFinance may be a reliable broker as it is licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC). The regulatory status of the broker is the single most vital factor for the safety of your funds. Therefore, ETFinance is one of our recommended brokers. As for the trading conditions, spreads are also great, and you'll surely enjoy good leverage also.