ETFinance Review, ETFinance Review
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General Information
Broker Name:ETFinance
Broker Type:Forex
Country:Cyprus
Operating Since (Year):2016
Regulation:CySEC
Address:Magnum FX (Cyprus) Ltd, 79 Spyro Kyprianou Avenue, Limassol 3076 Cyprus
Broker status:Regulated
Customer Service
Phone:+8006 003 7004 or +357 25359939
Email:[email protected]
Languages:English, Spanish, Italian, German, Swedish
Availability:24/5
Trading
Trading platforms:MT4
Demo account:Yes
Mobile trading:Yes
Web-based trading:Yes
Bonuses:No
Other trading instruments:No
Account
Minimum deposit ($):$250
Maximal leverage:1:500
Spread:N/A
Scalping allowed:No

ETFinance Review

ETFinance Review, ETFinance Review

About ETFinance

ETFinance was founded in 2016.  ETFinance is an EU broker. It is a and is a brand name of Magnum FX (Cyprus) Ltd. Cyprus Securities and Exchange Commission, the “CySEC” regulates the broker, Thus technically, all transactions and financial acts are safe and monitored.

ETFinance Review, ETFinance Review

Also, the brand itself offers commission-free trading.  Besides, the broker presents are users with a wide range of tradable assets across Indices, Commodities, Forex, Stocks, and on the MetaTrader trading platform.

However, most of the features and services are designed for beginner traders. Also, the company does not provide services to the US.

Also, the company is registered to provide cross border services to other European nations.

 

ETFinance Review: Regulations and Investor Protection

Magnum FX (Cyprus) Ltd operates several broker agencies with different brand names.  Moreover, Magnum FX’s primary domain is ETFinance. Both, Magnum FX (Cyprus) Ltd and its brand name ETFinance are licensed and controlled as they offer trading services of CFDs. As we noted, ETFinance is licensed by the Cyprus Securities and Exchange Commission, also known as CySEC.

The broker also offers further protection to the client. Here are some essential points of the company’s proposal:

  • ETFinance holds client funds in segregated accounts within reliable Cyprus or EEA credit institutions.
  • ETFinance is an official member of the Investor Compensation Fund. Thus, in the case of the company’s inability to fulfill its financial obligations., the fund will help out.

In addition to CySEC, ETFinance has an EU broad license, which gives the broker the right to target EU citizens irrespectively of where they reside – the UK, Cyprus, or any other EU country. As you may know, All EU regulated brokers are subject to strict regulatory requirements.

Withdrawal Option and Deposits

ETFinance Review, ETFinance Review

ETFinance made the withdrawal method quite easy and painless. Withdrawal requests made after 11 am GMT on a working day are processed the following business day. However, according to the broker’s Withdrawal and Refund Policy, they have the right to charge a withdrawal fee of 50 EUR if there is no trading activity before the submission of the withdrawal request.

 

Tradable Products

In addition to all of the assets that ETFinance has, the broker offers a wide range of tradable assets. Besides, trading with ETFinance is commission-free, almost on all the instruments. Here is a list of some products available on the website:

  • Forex – Up to 50 pairs, EURUSD, EURDKK AUDCHF, GBPJPY, USDZAR, and more…
  • Indices – 20 + CAC, FTSE, DAX, DOW, IBEX, AEX, VIX, etc.
  • Commodities – SUGAR 11, CORN, COFFEE, NATURAL GAS, BRENT CRUDE OIL, and more…
  • Stocks – 150 most popular stocks on the market. BMW, APPLE, FACEBOOK, AMAZON, DAIMLER, VODAFONE, and more…
  • Metals – 4+ main metals on the market.
  • Cryptocurrencies

ETFinance Review, ETFinance Review

Trading Features

ETFinance offers no advanced trading features, other than MT4. In addition, the clients will surely enjoy commission-free trading on the MetaTrader 4 trading platforms.

Bonus and Promotions

Unfortunately, there are no bonuses or promotions available with ETFinance. However, this may change over time.

Account Opening Process with ETFinance

ETFinance offers one type of trading account where traders can access all of their tradable instruments. However, opening a live account or a demo trading account is relatively quick and easy.

By the way, you should know that  ETFinance offers only one type of account.

But it is user-friendly. Thus any trader can get started pretty quickly, making ETFinance ideal for beginners.

 

Trading Platform

Our team at FinanceBrokerage works hard on analyzing every single aspect of the broker that we stumble upon. Thus, our, ETFinance review is very detail-oriented.

ETFinance offers traders the industry-standard MetaTrader4 platform. If you’ve never heard, MT4 is the most popular trading platform on the market, professional and beginner traders alike actively use it. Besides, the Web Trader is a perfect start for the beginner level traders.  However, this does not exclude advanced level traders. Also, they will enjoy customization cart tools provided by ETFinance. Also, they’ll be able to use  Expert Advisors and also trading.

ETFinance Review, ETFinance Review

Desktop and Web Platform

The MetaTrader 4 desktop and web trading platform offers multiple language choices and key features:

  • Multiple asset classes
  • Analytical and technical indicators
  • One-click trading
  • A wide variety of free trading indicators
  • Security systems
  • Protection through cutting-edge encryption

 

Mobile Trading Platform

ETFinance mobile trading app is free. Thus there are no restrictions in downloading the app. The ETFinance MetaTrader 4 Forex Trading App offers:

  • Multiple order types
  • Bars, Candlesticks and Line chart views
  • A wide range of trading indicators

 

Trader Education

Education is an essential step in any trader’s experience. Also, ETFinance offers an impressive and multiple-level library of educational videos.  Besides, ENFinance users can easily access their Education page, which hosts an online trading digital library.

ETFinance Review, ETFinance Review

Here are the topics that  the videos cover:

  • Primary Forex Education: from A to Z
  • Fibonacci and Calculations
  • Candlesticks and Chart formation patterns
  • MT4
  • Forex indicators
  • Timing in Forex -an essential aspect of success.
  • Cryptocurrencies – fundamentals and more.

ETFinance Review, ETFinance Review

Overall, ETFinance offers Webinars, Economic Calendar, eBooks, Courses, Tutorials, Earnings Calendar, and Articles.

However, there is one little thing that we did not appreciate.  Also, users have access to a demo trading account as well as a strong library.

 

Customer Support

ETFinance offers 24 /5 Live Chat support.  Besides, the broker’s customer support in English and Spanish.  In case of any questions or emergencies, here are the ways you can contact them.

  1. Email: [email protected]
  2. Phone: +8006 003 7004 or +357 25359939
  3. Live Chat: Monday – Friday, 7 am – 7 pm GM

Address:  Magnum FX Ltd, 79 Spyro Kyprianou Ave., Limassol 3076 Cyprus

Besides, Customer support agents are helpful and responsive. Also, advanced trading questions were referred to account managers who offered to call back to discuss them, which can be useful for beginner traders.

ETFinance Review, ETFinance Review

ETFinance Review: Conclusion

ETFinance is a broker company with an impressive product and features portfolio. Besides, it offers a variety of currency pairs and CFDs on the renowned, user-friendly MT4 platform. ETFinance is a reliable broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC).

Also, ETFinance offers a unique and simple commission-free trading account that is ideal for beginner traders. Also, the trading conditions, spreads were quite appealing, and if you are a professional broker, you can surely enjoy good leverage as well. In addition, the web-interface and  Client Area is also simple to use, helping users navigate between opening live and demo trading accounts.

In conclusion, to sum up, our ETFinance review here are the advantages and disadvantages of this broker.

The main advantages:

  • Commission-free trading
  • Vast educational video library
  • Easy and user-friendly interface
  • Wide range of tradable asset classes
  • Trade via the popular MetaTrader 4 platform

The main disadvantages:

  • Limited features for experienced traders
  • No facility to trade on MetaTrader 5

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  • Platform
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Comments Rating 5 (14 reviews)

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14 Comments

  1. Nadine Rothstein April 9, 2020
  2. Patrick Chabot April 7, 2020
  3. Constantine Averyanov April 3, 2020
  4. Rebeca Sousa Almeida April 1, 2020

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