General Information | |
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Broker Name: | ETFinance |
Broker Type: | Forex |
Country: | Cyprus |
Operating since year: | 2019 |
Regulation: | CySEC |
Address: | KPMG Center,1Agias Fylaxeos Street,2nd Floor D Office1,3025 Limassol,Cyprus |
Broker status: | Regulated |
Customer Service | |
Phone: | +8006 003 7004 |
Email: | [email protected] |
Languages: | English, Spanish, Italian, German, Swedish,Dutch, Portuguese |
Availability: | 24/5 |
Trading | |
Trading platforms: | MT4 |
Demo account: | Yes |
Mobile trading: | Yes |
Web-based trading: | Yes |
Bonuses: | NO |
Other trading instruments: CFD’s on: | Currency, Stocks, Commodities, Cryptocurrency |
Account | |
Minimum deposit ($): | $250 |
Maximal leverage: | 1:30 Retail Clients 1:500 for Eligible Professional Clients |
Spread: | Variable |
Scalping allowed: | NO |
ETFINANCE REVIEW CONTENT:
- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- TRADING ACCOUNTS
- ETFINANCE TRADING CONDITIONS
- TRADING PLATFORM
- ETFINANCE’S TRADING PRODUCTS
- CUSTOMER SERVICE
- ETFINANCE REVIEW: CONCLUSION
Broker Review: ETFinance
ETFinance Review: General Information
ETFinance is a brokerage that was founded relatively recently in 2019. The firm operates from Cyprus, with the exact location of 1 Agias Fylaxeos Street, 3025 Limassol.
As you open ETFinance’s website, two things immediately catch your eye, the theme of flying above the clouds and the Real Madrid Basketball Club sponsorship. Different sports teams and brokerages have recently entered a symbiotical relationship, with many brokers moving to sponsor varying clubs. And while Real Madrid’s basketball team isn’t as prominent as the football one, a deal with a world-renown club is an excellent sign of broker validity.
As for the design, although it’s not that important, it’s nice that the company made sure everything fits together. Often, visual design is an afterthought for finance companies. After all, customers’ primary concern is making money, not looking at a nice screen while trading. However, pleasing visuals are a plus while navigating their website and demonstrate care and attention to detail.
The function is also there to serve as a backbone to form, as the website runs and is organized flawlessly. There’s no stuttering or lag on the broker’s end while you’re sifting through webpages. There are no long loading screen transitions, which brokers often put up to cover imperfections in their web design. All the info brokers care about is sorted well under drop-down menus and is never more than a few clicks away.
As you move towards more specifically trading-related factors, the quality remains high. Although the company hasn’t had the same time on the market as some veterans, it’s accomplished quite a lot. Here are some of the best features the broker offers its clients:
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GLOBAL RECOGNITION
Although the broker hasn’t been around for long, it’s already been recognized as a market leader globally. The firm already collected multiple awards from prominent global brands and enjoys a positive reputation among traders worldwide. On top of that, the sponsorship with Real Madrid is a form of recognition in itself. Prominent brands avoid associating with firms that might damage their reputation, so it lends ETFinance an air of trustworthiness.
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A SECURE EXPERIENCE
ETFinance ensured that its customers don’t need to worry about getting tricked while trading. The firm holds a license from one of the most vigilant financial watchdogs in the world, CySEC. On top of that, it follows the recent MiFID II legal regulations, aiming to improve trading fairness and safety. Lastly, the sponsorship deal and excellent reputation we already mentioned mean the broker has practical support for its theoretical strengths.
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NO FEES
Fairness is difficult to guarantee while trading, and there are many ways in which malicious brokers try to tip the scales against their traders. One of the commonly used methods is integrating fees to deposits, trades, or withdrawals. Some brokerages even try to hide those charges, trying to make them pass by unnoticed. Naturally, any serious trader should avoid paying such fees, as they mean you’re playing at a disadvantage by default. The only way to avert commissions is by choosing a broker that doesn’t charge any, such as ETFinance.
Funds Trading and Security
When looking into a new brokerage to frequent, security is a factor you can’t push to the sidelines. All it takes is one malicious move by a broker to make a fantastic trading experience into an entirely miserable one. As we mentioned earlier in our ETFinance review, however, the firm has a nearly flawless security rating.
To begin a security analysis, the first factor you should consider is regulation. For the broker, the licensing is quite strict, with CySEC watching over how the firm operates. The Cyprian regulator keeps a blacklist of brokers it deems untrustworthy and punishes any missteps by license holders. It also provides compensation services to traders who receive malicious behavior damage, minimizing the risk while trading.
The next variable in ETFinance’s security formula is its adherence to MiFID II rules. The document was passed to protect traders and keep brokers in check, preventing unfairness. Among other things, it stops brokers from luring inexperienced traders into situations they can’t handle.
However, technical fail-safes such as those often have holes that the craftiest scam brokers can slip through unpunished. As such, it’s vital to also look at the practical factors, such as customer satisfaction. Luckily, ETFinance passes the practicality check with flying colors. Not only does it enjoy a near-pristine reputation among clients, but it also cooperates with one of Europe’s most recognizable football clubs.
Trading is a risky profession, and nobody can guarantee you won’t lose money. However, the combination of ETFinance’s security factors ensures that the broker won’t attempt to harm your experience to achieve a quick profit.
ETFinance’s Trading Accounts
ETFinance provides a demo account, which means users have the option of trying out the service before paying a dime. The demo account has fake funds on it, meaning new traders can use it as a potent learning tool. They can handle how trades function and avoid any interface errors when they move to trade with actual money. However, the demo doesn’t help novices exclusively, as many veterans agree that it’s the best way to check whether you’ll find a broker’s service suitable.
Moving on to live accounts requires the usual $250 investment. That will net you the Silver account, which is quite cost-efficient when it’s characteristics are considered. All assets are available to all account tiers, so upgrading is purely voluntary and not one the broker imposes on you artificially. If you want to improve your service, however, you can go for the Gold or Platinum accounts, which unlock some additional features. The two higher types are aimed towards experienced traders, so you don’t need to worry about them if you’re new.
However, a more meaningful upgrade is moving from retail to a professional account. The retail version is default and comes with built-in new trader protection. However, that protection comes with some limitations, most noticeably in the leverage levels you can achieve. The pro account requires traders to present additional documentation and higher leverage, special offers, and early trading instrument access. All that comes with removing risk-reducing factors, so you should leverage those factors against each other and decide if it’s worth it for you.
Here are some details about the ETFinance account types:
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SILVER
- 750 Assets
- 0.07 Minimum Spreads
- 1:30 Maximum Leverage
- Full 10-Hour Support 10 AM – 8 PM GMT
- Islamic Account
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GOLD
- 750 Assets
- 0.05 Minimum Spreads
- 1:30 Maximum Leverage (Retail)
- 1:400 Maximum Leverage (Pro)
- Full 10-Hour Support 10 AM – 8 PM GMT
- Dedicated Account Manager
- Webinars & Videos
- Hedging
- 25% Swap Discount
- Islamic Account
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PLATINUM
- 750 Assets
- 0.03 Minimum Spreads
- 1:30 Maximum Leverage (Retail)
- 1:500 Maximum Leverage (Pro)
- Full 10-Hour Support 10 AM – 8 PM GMT
- Dedicated Account Manager
- Webinars & Videos
- Hedging
- 50% Swap Discount
- News Alerts
- Free VPS
- Islamic Account
Trading Conditions
ETFinance’s trading conditions are good enough to compete with the best. The firm offers good leverage rates, tight spreads, and has an amazing depth of assets. The lowest account tier is perfect for new traders, without overwhelming options, while the higher two unlock veterans’ features.
The security also serves to improve the trading conditions, as trading can go awfully wrong without it. CySEC’s license and the MiFID II regulations ensure that traders always get a fair shot at financial gain. The website is encryption-protected, keeping users safe from cyber attacks.
The secondary features are also there, as the company has an extensive learning database. That helps new traders overcome the ever-important first hurdle of entering the finance world. The amount and detail of the materials also ensure quick progress for those willing to learn. Besides that, the broker also made sure to enable Islamic accounts for traders that follow Sharia.
Trading Platform
ETFinance made a sound choice in choosing a widely-used and highly-regarded platform. The software in question is MetaTrader4, which traders have undoubtedly encountered before. MT4 has been the industry standard for years, which means the only people still unfamiliar with it are probably entirely new to the trading world. However, the software is quite intuitive and easy to use, so even they won’t have a hard time accommodating.
For those that prefer methods other than downloading a platform to their PC, there are also the Web and Mobile options. The web platform lets you turn any desktop browser into a fully-functional version of MT4. The mobile option does require a download but is the only way you can access the platform from your phone or tablet.
ETFinance’s Trading Products
The availability of assets at ETFinance dwarfs most other brokers on the market. Namely, the brokerage offers more than 700 assets split over multiple different categories. Traders will nigh-certainly find their preferred instruments, and there’s more than enough products to diversify your trading. Here’s a list of the categories you can expect to see:
- Forex
- Crypto Pairs
- Commodities
- Indices
- Stocks
- ETF
Customer Service
The support team at ETFinance has a completely serviceable worktime of 7 AM to 7 PM Monday to Friday. You can reach them using a phone line, email, the form on the broker’s website, or the integrated live chat feature.
- Phone number: : +80060037004
- Email: [email protected]
ETFinance Review: Conclusion
ETFinance has, in its short operating time, already become an influential force in the finance world. It’s a globally recognized brand that many have praised for fairness and service quality. On top of that, the broker’s trading-related conditions are top-notch. Altogether, it’s apparent that ETFinance set a high standard for itself and followed it perfectly. The result is a balanced, top-quality brokerage that’s certain to satisfy most users’ needs.
Good broker
I have just started trading with this broker a month ago. I can say that they really did a good job for the start. I am hoping that service will always be as good as this if not better than this. So far all is good.
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The best customer service
The best customer service so far. Withdrawal is fast and services are all very efficient.
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Huge profit
I had a great trading experience with this company. I am earning huge profit on a monthly basis.
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Happy with services
I am pleased and happy with the services. Gaining atleast 10percent per month is fair enough.
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Admirable broker company
Admirable broker company. They do all the hard work and the services are really very effective.
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Reliable broker
They have reliable services and good brokers. I gain good returns and is overall satisfied.
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Honest broker
I am confident with this broker service. I feel like I can fully trust them. They are very honest and transparent on all transactions.
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Awesome services
Trading terms are very fair. The services are awesome.
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Effectve trading advice
I trade with confidence because of this broker company. I am getting really effective trading advice.
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Reliable broker
They have reliable services and good brokers. I gain good returns and is overall satisfied.
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