ETFinance Review 2019 | Is ETFinance a Scam or Legit Forex Broker?

Read our ETFinance review to find out if ETFinance is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.5/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
ETFinance
ETFinance Overview

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
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 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, Crypto, 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.

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 Card, 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 MetaTrader 4 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.

Other

Trader Education
ETFinance offers an impressive library of educational videos covering beginner and advanced trading concepts.

Promotions
Currently, there are no bonuses or promotions available with ETFinance.

Support
ETFinance offers 24 hours a day, 5 days a week Live Chat support, as well as email and phone in English and Spanish.

Recup
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.

Final Thoughts
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.

Trading Experience
ETFinance offers unique features for beginner traders, as well as a strong educational video library covering a variety of topics.

People Also Asked

Is ETFinance regulated?
Yes, ETFinance is regulated by top-tier regulators, CySEC inclusive.
Where is ETFinance based?
ETFinance is based in , Cyprus
How does ETFinance make money?
ETFinance charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in ETFinance account?
With ETFinance you can deposit money via the following means; Credit Card, Wire Transfer.
How do I withdrawal in ETFinance account?
ETFinance lets you request a withdrawal of funds from your account via the following means; Credit Card, Wire Transfer.
What is the minimum deposit for ETFinance?
ETFinance has $250 minimum deposit.
What are the available account base currencies with ETFinance?
ETFinance trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in ETFinance?
ETFinance has a maximum leverage is 1:500 for professional traders.
How do I open an account with ETFinance?
Opening an account with ETFinance is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does ETFinance use MetaTrader?
ETFinance platforms: Yes, ETFinance use MetaTrader as well as the following platforms: MetaTrader 4
What type of broker is ETFinance?
ETFinance appears to be a Dealing Desk broker which offers market access to a variety of traders.
Does ETFinance accept US clients?
No
Does ETFinance offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with ETFinance: You can trade a wide variety of instruments with ETFinance: Currencies, Commodities, Stocks, Crypto, Futures