ETFinance is a brand name of Magnum FX which is regulated by the Cyprus Securities and Exchange Commission the “CySEC” and offer a wide range of tradable assets across Forex, Stocks, Indices, Commodities and Cryptocurrencies on the MetaTrader trading platform for Desktop, Web and Mobile.
|#||Broker's Features||ETFINANCE Availability|
|#||Accepts US traders||❌|
|#||24 hour trading||❌|
|#||Trading by phone||❌|
|#||1st deposit bonus||❌|
|#||Forex contests competitions||❌|
|#||Interest charges on the balance||❌|
|#||24 hour support||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review ETFinance.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. ETFinance offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Stocks, Cryptocurrency, Futures.
Tradable Products: ETFinance offers a wide range of tradable assets across Forex, Stocks, Indices, Commodities and Cryptocurrencies via CFDs.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. ETFinance is Dealing Desk.
Features: ETFinance offers no advanced trading features beyond the MetaTrader 4 trading platform on Desktop, Web and Mobile.
As a market maker, ETFinance may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. ETFinance recommended minimum capital is $250.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. ETFinance is regulated by CySEC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: ETFinance is a brand name of Magnum FX (Cyprus) Ltd which is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Languages Available: Next lets have a look at each broker's different Language options. ETFinance offers English, Spanish.
Payment methods: Next lets have a look at each broker's payment options. ETFinance offers Credit/Debit Cards, Bank Wire Transfer different payment methods for each account types.
Deposit and withdrawal: ETFinance offers several ways to deposit and withdraw funds through credit and debit cards as well as the Pay by Bank app and Trustly Instant Bank Transfer.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, ETFinance makes MT4 available to clients.
Web & Desktop Trading Platforms: ETFinance offers the globally recognised MetaTrader 4 trading platform for Desktop, Web and Mobile.
Mobile Trading Platforms: ETFinance offers the MetaTrader 4 Forex trading app for both Android and iOS operating systems.
ETFinance offers an impressive library of educational videos covering beginner and advanced trading concepts.
Currently, there are no bonuses or promotions available with ETFinance.
ETFinance offers 24 hours a day, 5 days a week Live Chat support, as well as email and phone in English and Spanish.
While ETFinance operates with just one liquidity provider, according to their website, they hold client funds in segregated accounts within reliable Cyprus or EEA credit institutions and are a member of the Investor Compensation Fund.
ETFinance offers a unique and simple commission-free trading account that is ideal for beginner traders, as well as an impressive educational video library covering a variety of topics.
ETFinance offers unique features for beginner traders, as well as a strong educational video library covering a variety of topics.