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||NORDFX Availability||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 compare NordFX vs 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. NordFX offers Online Financial Trading and Investment Services Such as Currencies, while Etfinance offers Currencies, Commodities, Stocks, Cryptocurrency, Futures.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. NordFX is ECN, No dealing desk, STP, while Etfinance is Dealing Desk.
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. NordFX is regulated by CySEC, VFSC, while Etfinance 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.
Languages Available: Next lets have a look at each broker's different Language options. NordFX offers Arabic, Bengali, Chinese, English, Farsi, Hindi, I, while Etfinance offers English, Spanish Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. NordFX offers Credit/Debit Cards, Bank Transfer, Neteller, UnionPay different payment methods for each account types, while Etfinance offers Credit/Debit Cards, Bank Wire Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, NordFX makes MT4, MT5 available to clients, while Etfinance offers MT4.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, NordFX is more reliable based on our criteria above. NordFX has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. NordFX broker is regulated in more major hubs. NordFX offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. NordFX has a wider range of languages in which customer service is offered making the broker more accessible. As NordFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.