ETFinance Review 2021 | What to Trade on Forex Platform?

ETFinance Review 2020

ETFinance: the company’s background

ETFinance is a professional Forex and CFD financial services provider based in Limassol, Cyprus, and offering services to residents of European countries.
Even though the company has existed for a few years, from 2018, it is already recognized as the market leader worldwide. ETFinance has already received numerous awards from well-known global brands and has a solid reputation among traders.

ETFinance License Overview

ETFinance is a trademark of Magnum FX (Cyprus), which is licensed and regulated by the Cyprus Securities and Exchange Commission under license number 359/18. CySEC is a member of the European Securities and Markets Management Committee and is considered a reputable and reliable organization in terms of licensing of financial firms. It offers a high level of protection and market efficiency.
Besides, Magnum FX is authorized in many countries of the European region. An important aspect that characterizes ETFinance as a reliable company is its partnership with Real Madrid BC. The latter is one of the best basketball teams in Europe, and it certainly would not have chosen ETFinance as a partner if there were fraudulent brokerage activities.
The address and company number are also clearly indicated on its official website, which ensures a high level of reliability and legitimacy.

Safe trading experience

Ensuring the security of clients’ funds and data is the strength of ETFinance. In this regard, the company has an almost perfect reliability rating and high customer reviews, which can be observed on many sites and review pages.
As mentioned above, the company follows all the regulatory requirements which are obligatory for a financial service provider to operate. ETFinance is legally licensed and CySEC oversees the firm’s activities. Besides this, ETFinance is also MiFID II compliant. The provisions of this document protect traders and keep financial services providers under control, preventing any manipulation, scams, and fraud. ETFinance also protects its clients’ personal information with SSL encryption on their PCs and smartphones.
To sum up, ETFinance’s security measures ensure a positive trading experience for all its clients.

ETFinance trading accounts

ETFinance provides a demo account option that allows clients to try out the company’s services before depositing to start trading with real funds. The demo account has virtual funds and traders can use it as a powerful learning and experiencing tool. With the help of a training account, users can control how trades function and avoid some fundamental errors when moving to trade with real money. Moreover, the demo account is not intended exclusively for beginners, as it is also suitable for advanced traders to check if the company’s services are suitable for them before making a deposit and starting trading.

To trade on a real ETFinance account, a deposit of $250 is required.
In total, the company offers three main types of real accounts: Silver, Gold, Platinum. Each of them has its specific characteristics and trading conditions. However, there are common elements among accounts, for example, assets are available for all types of accounts. Gold or Platinum accounts provide better service and some additional features. These two types are primarily intended for experienced traders, so it is best for beginners to start with a Silver account. Here are some details about ETFinance account types:

Choose Numerous Stocks in ETFinance Broker

1. Silver account provides:
⦁ access to 750+ assets
⦁ 0.07 minimum spreads
⦁ 1:30 maximum leverage
⦁ full 10-hour support
⦁ Islamic account option

2.Gold account type provides:
⦁ access to 750+ assets
⦁ 0.05 minimum spreads
⦁ 1: 400 maximum leverage
⦁ full 10-hour support
⦁ personal account manager
⦁ access to webinars and videos
⦁ hedging
⦁ 25% discount on swap
⦁ Islamic account option

3. Platinum account type provides:
⦁ access to 750+ assets
⦁ 0.03 minimum spreads
⦁ 1: 500 maximum leverage
⦁ full 10-hour support
⦁ personal account manager
⦁ access to webinars and videos
⦁ hedging
⦁ 50% discount on swap
⦁ news alerts
⦁ free VPS
⦁ Islamic account option

ETFinance trading platform

ETFinance has chosen a widely used and highly regarded platform MetaTrader 4 (MT4). MetaTrader4 is a progressive software that has been the industry standard for about fifteen years. This trading platform is intuitive and easy to use, so even beginners will have no difficulty in adjusting and trading with confidence.
The platform has several forms, including an MT4 trading terminal that requires installation on a PC, a WebTrader version that allows traders to turn any browser into a fully functional trading platform, and a mobile application that requires downloading to a phone or tablet and is suitable for Android and iOS systems. Thus, in addition to its powerful characteristics, MT4 also has various use cases, which makes the use of this platform convenient and simple. Moreover, the platform includes a wide range of technical indicators, functions, and integrated tools, as well as automated trading tools, which all create opportunities to conclude successful transactions.

Trading Style of ETFinance Broker

Spreads and leverage

Spread is the difference between the buy and sell prices at the same time for the same financial instrument. This is a rather dynamic indicator that directly affects liquidity in foreign markets. ETFinance provides a minimum spread of 0.05, which is relatively small. Relevant spreads for each available asset are available on the ETFinance website on the online prices page.
As for the leverage, it varies depending on the type of account, and the maximum possible size of it can be 1:500. This is definitely an exciting offer for speculative deals. Leverage allows traders to open orders for larger amounts than are available on their deposits. Leverage offers a good chance of making a decent profit, but it’s important to remember that it can also lead to significant potential losses. The company’s website also warns visitors about the potentially high risk of losing funds due to leverage, as traders need to be aware of this in order to decide whether to trade with leverage.

Large assets selection

ETFinance offers a wide range of tradable instruments. Clients can trade CFDs on hundreds of Forex currency pairs with all types of national currencies, 20 popular indices, 17 major commodities, including precious metals and energy products, as well as over 150 stocks of American, European, and Australian companies. Besides, there are 33 traded cryptocurrency pairs, including Bitcoin, as well as several ETFs.
Thus, the company allows access to a huge number of CFDs on various products, and new assets are regularly added to the selection of financial tools.
All in all, the ETFinance offers over 750 assets available, belonging to various product categories. This expands the choice for traders to find their preferred instruments, which are more than enough to diversify their trading experience and portfolio as well as manage potential risks.

Commissions and fees

ETFinance does not have a policy of collecting any hidden or additional fees. The company does not charge any trading fees or commissions when trading CFDs on Forex. However, other trading instruments, such as commodities, require low commissions, but ETFinance mostly gets its profits from spreads, not commissions. Trading costs can differ depending on the trading type, financial asset type, and the level of the trading account.
Moreover, ETFinance does not charge its users for placing trades, deposits, or withdrawals. The company allows withdrawing the funds via the bank transfer, e-wallet, Skrill account, Neteller.
There are also no manipulations or hidden charges behind the company. The most attractive feature of ETFinance is the no-commission model, which means that company’s clients can trade without paying any transaction fees.

ETFinance support service

The company’s support team took a close approach to provide customers with help and feedback. ETFinance clients can contact customer support by phone or email, as well as through a very convenient and always up-to-date online chat where traders can contact agents with any questions. The live chat section can be found on the company’s website.
The customer service staff are helpful, courteous, and knowledgeable, responsible, and answer emails within hours. Customer support is available round o clock, Monday through Friday, and a telephone line is open from 7:00 am to 7:00 pm GMT during the trading week.

Additional features: learning materials and courses

ETFinance provides its clients with an extensive education center with tutorials, trending articles, and videos. Gold and Platinum account holders also have access to a collection of e-books and training courses on strategies and trading tools. In addition, ETFinance helps clients with market analysis and strategy planning through the economic news calendar, which helps to visualize the latest results on the global market.
There are also useful resources in the public domain: the company’s website has a wide selection of webinars, courses, tutorials, e-books that traders can use to further expand their professional knowledge.

ETFinance key takeaways
Finance is a European company that provides CFD services to traders of various levels. Among the features and main advantages of the company, the following factors can be noted:

⦁ Strict regulation
⦁ Commission-free trading
⦁ More than 750 CFDs available
⦁ Availability to open short and long positions
⦁ Free demo account
⦁ A solid reputation
⦁ MetaTrader 4-based platform
⦁ Good leverage
⦁ Low spreads

In general, the trading conditions of the company are very attractive and suitable for beginners and advanced traders. ETFinance is also a highly reliable broker, licensed and authorized by CySEC, which is a significant fact. Over several years, ETFinance has managed to gain a lot of client trust and reputation in a fairly competitive market environment. The most important thing is that the company does not stand still and is constantly developing, improving the quality of its services.

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FAQs

Is ETFinance a scam?

ETFinance is a secure financial services provider as it is regulated and audited by the responsible regulatory body.

Is ETFinance regulated by CySec?

Yes, ETFinance is regulated by the Cyprus Securities and Exchange Commission (CySEC), which has broad powers in the financial segment.

Can I try ETFinance before I buy?

Yes, there is a demo account option, which traders can use and practice on it before depositing funds on their real trading accounts.

What is the ETFinance telephone support number?

ETFinance telephone support number is available on the company’s official website in the Contact section.

What funding methods does ETFinance accept?

ETFinance funding methods are various and include payment cards, e-wallets, and transactions. Visa and Mastercard options are also supported, as well as bank transfers and Skrill.

Where can I find ETFinance terms and conditions?

To get more detailed information about ETFinance terms and conditions you can visit the company’s official website, where all the details are described. There are also the company’s legal documents on the website.

Is ETFinance a good broker?

ETFinance is a top-rated financial service provider, which is a remarkable indicator of the high quality of the services.

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