ETFinance Review: What to Expect From the Broker?

Whether you’re new to trading in the financial market or an expert, a decision you have to make at one point is which brokerage service to use for your trades. 

This decision which initially appears simple on the surface, however, becomes a difficult one when you realize that there are thousands of brokerage firms out there who claim to have the client’s interest at heart.

Undoubtedly, ETFinance is one of those many brokerages out there. But as we’ll review during the course of this article, the platform has most of the tools that traders need to maximize their profits.

More importantly, ETFinance has an impressive track record that makes it worth considering for anyone searching for a reliable broker to trade stock, crypto, Forex, indices, metals, CFDs and ETFs.

ETFinance Review

Advantages

  • Fully Regulated

If your primary perimeter for selecting a good brokerage firm is regulation, the ETFinance scores an excellent grade.

The company which is registered in Cyprus as Magnum FX (Cyprus) Ltd operates with a license from the Cyprus Securities and Exchange Commission (CySEC) and, thus operates under the regulator’s oversight.

Notably, operating under the CySEC’s purview requires that ETFinance abides by certain rules that guarantee the safety of client capital, as well as the company staying afloat with no chance of filing for bankruptcy.

One such measure includes the maintenance of 730,000 EUR (appr. $894,000) in operating capital. The broker is also subject to regular external audits and periodic filing of accounting records.

Additionally, being under the CySEC means that ETFinance is also a member of the Investor Compensation Fund for Customers of Cyprus Investment Firms. This membership requires that the broker maintains insure client funds for up to 20 000 EUR (appr. $22,000) to manage an unlikely scenario where the company files fo bankruptcy.

Putting all these factors into perspective suggests that ETFinance is ideal for any trader seeking a regulated broker to trade on their platform. That is ultimately a better option that using shady or unregulated brokers where fund safety is not guaranteed.

It also allows traders to focus on how to get the most out of their traders, rather than needlessly worry about whether they’d lose their funds.

  • Meta Trader4 Support

If you’re already used to the Meta Trader4 interface, then don’t expect that to change when you switch to ETFinance. The brokerage platform offers the same interface which is greatly respected by both beginner and expert traders alike.

Meta Trader4 comes with 50 modifiable key market indicators, TradingView charts, and trading bots which come handy if you love automated trading. What’s more?

ETFinance supports Meta Trader4 on Desktop, Web, and Mobile, making it possible for you to trade round the clock if you wish to do so.

  • Multiple Accounts to Suit Your Trading Needs

Whether you’re a newbie, an experienced trader, or a seasoned one, ETFinance offers account options that match your trading style better and help you utilize your skills in the most effective way.

Silver, Gold and Platinum account types exist with a wide range of tradable assets, spreads, leverage, and dedicated account management personnel.

Interestingly too, ETFinance offers an Islamic account for traders who are of the Muslim faith and, thus detest interest fees. Unlike some brokers that defy this package using swap charges to cover the interest, ETFinance imposes no additional charges on its Islamic accounts.

Different classes of educational resources are available to users depending on the type of account they create on the platform.

  • Multiple Asset Offerings

Instead of trading crypto with a different broker, stocks with another, and commodities with yet another, you can have them all in one place if you use ETFinance.

At the time of writing this report, you can trade Forex, stocks commodities, indices, and different cryptocurrencies on the platform. Aside from Bitcoin, you can trade a wide range of altcoins, including Litecoin, XRP, Ethereum, Monero, ZCash, Stellar, etc.

You can also trade a wide range of crypto-based CFDs and profit from the market without necessarily owning any crypto.

Note that the higher the type of account you signup for on ETFinance, the higher the leverage and trading options that will be made available to you.

  • Multiple Languages and Customer Support

Aside from English, the ETFinance website supports six other languages, including Spanish, German, Dutch, Portuguese, Italian and Swedish. This allows you to engage with a website that you can easily understand.

In case you have any inquiries, a 24/5 customer support desk exists and is available via a LiveChat option and email. A phone number is also provided to serve on occasion where the text does not clearly convey the issue for which you require assistance.

  • A Globally-Recognized Brand

Recently, ETFinance became one of the official sponsors of the Real Madrid Basketball team, giving the investment platform more legitimacy, aside from its strongly regulated background with the CySEC.

  • Diverse Payment Channels

There should be no hiccups with funding your ETFinance account as the brokerage service supports popular debit and credit cards from Visa and Mastercard. Skrill and Neteller are the primary e-payment options available to clients. There are no commissions charged on deposits.

Disadvantages

Minimum Deposit?

Although some brokers allow you to begin trading for as low as $5 and often use this to brand their offering, you’ll only learn the minimum deposit amount on ETFinance while signing up. However, we expect this amount to be in the $250 region like the minimum deposit for other brokers in the same bracket.

Final Words

From onboarding to funding and then trading, ETFinance offers a seamless trading experience that many of its competitors can only dream about. Also, a solid background with regulators makes it a viable choice for most traders in the EU, which it primarily serves and other jurisdictions.

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