ETFinance Review 2022 | What to Trade on Forex Platform?

ETFinance was founded in 2018, and it is a brand name of Magnum FX (Cyprus) Ltd. The broker e is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 359/18.

The broker offers 250+ CFDs on a wide variety of assets like cryptocurrency, commodity, indices, stocks and forex. It provides the educational resources that help for trading like tutorials, VOD, courses, ebooks, and webinars, etc..

The broker used the MetaTrader 4 platform for trading. The platform has three types of accounts such as silver, gold and platinum accounts. The broker is an excellent broker in the market and the services and features offered by the broker are amazing. The trader can trade from anywhere through the mobile phone, web trading.

Summary of the broker: ETFinance

• It offers commission-free trading. 
• The headquarters of ETFinance is at 1 Agias Fylaxeos Street, 3025 Limassol.
• The minimum deposit required before investing the money in the market is $250. 
• It offered a demo account for the practice of beginners. 
• The maximum leverage is offered up to 1:500. 

Is ETFinance Scam or safe: 

ETFinance is a brand name of Magnum FX (Cyprus) Ltd. It is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license number 359/18. 

How many types of trading accounts in ETFinance?

There are three types of accounts that broker offers. 

Silver Account Type-  

The silver account is basically for beginners or newcomers for trading. In the silver account, it can take the broker’s leverage that helps to easily access the global market. 

 Features and services of the silver account 

• • In the silver account, the trading is commission-free. 
  • The maximum leverage of the silver account is 1:30. 
  • The minimum spread is 0.07.
  • The broker provides 24/5 customer support for the trader to solve the problem.
  • There is no limit to depositing the money. 
  • Fifth, decimal trading is offered for better liquidity and execution in trading positions. 
  •  750+ assets to trade on. 

• Hedging is allowed in the silver account; it helps to reduce the losses and risk in the investment by taking the opposite positions on the same asset.  

Spreads in silver account

Gold 0.59

Crude oil 0.07

Dax 2.20

EUR/USD 2.20

GBP/USD 2.8

USD/JPY 2.3

Leverages in silver account 

FX 1.3

Gold and silver 1:20

Indices 1:20

Commodities 1:10

Equities/ stocks 1:5

Gold Account Type –

In the gold account, the trader can trade in a big volume, and there is no limit to how many positions the trader can take open and trade.  

Features and services of the gold account 

• In the gold account, the broker offers the voice of 63 currency pairs, 15 stock indices, WTI, bonds and metal, all the assets available for our advanced traders. 
• 750+ assets to trade on.
• The minimum spread in the gold account is 0.05.
• The maximum leverage is up to 1:400. 
• Commission-free trading is available for traders.
• The swap discount is offered up to 25%.
• The broker has a dedicated account manager. 
• It also offers an Islamic account. 
• It provides educational resources through videos & Webinars.
• Fifth, decimal trading is offered for better liquidity and execution in trading positions.
• Hedging is allowed in the gold account; it helps to reduce the losses and risk in the investment by taking the opposite positions on the same asset.  
• The broker provides the full 10- hour support from 10 am – 8 pm GMT for traders. 

Spread in the gold account

Gold 0.48

Crude oil 0.05

Dax 1.5

EUR/USD 1.3

GBP/USD 2

USD/JPY 1.5

Leverages in gold account 

FX 1:400

Gold and silver 1:100

Indices 1:100

Commodities 1:100

Equities/ stocks 1:40

Platinum account Type- 

The platinum account is basically for the advanced level of traders. The members of the platinum account trade on a large scale; because of this, the trader requires the additional features. The leverage is offered up to the highest by the broker. If you have a desire to experience high-quality trading, then open the platinum account. 

Features and services of the platinum account 

• 750+ assets to trade on.
• The minimum spread is 0.03.
• The swap discount is offered up to 50%.
• The broker has a dedicated account manager.
• Commission-free trading is available for the traders. 
• The broker also offers an Islamic account. 
• News alert option is available in the platinum account.
• Fifth, decimal trading is offered for better liquidity and execution in trading positions.
• Hedging is allowed in the platinum account; it helps to reduce the losses and risk in the investment by taking the opposite positions on the same asset.  
• It offers the full 10- hour support from 10 am – 8 pm GMT for trading. 
• In the platinum account, you can join the webinars and see the video for learning the trading. 

Spread in platinum account

Gold 0.37

Crude oil 0.03

Dax 1

EUR/USD 0.7

GBP/USD 1.3

USD/JPY 0.8

Leverages in Platinum Account 

FX 1:400

Gold and silver 1:125

Indices 1:125

Commodities 1:125

Equities/ stocks 1:50

Which Trading Platform Does ETFinance Provide?

ETFinance offers the mobile trading and web trading platform through MetaTrader 4. 

Web trader – 

The ETFinance offers a web trading platform; with a few clicks on the website, the trader can start the trading. ETFinance supported the 11 languages for the traders. The trader does not need prior download and installation to access the global market.

Features of the Web trading 

• 30+ analytical tools for trading. 
• One-click trading option 
• Full control of your trading is in your hand. (open and close the positions).
• No need to download the software. 
• Use the stop loss option for minimising the risk of loss.
• You can trade with any device only; you need to log in to your account. 
• The trader has an option of live chat with the customer support services.  

What are the key influences of web traders?

• Full customisation – The trader can customise the trading plan according to their need, how much volume you want to trade and the number of traders. It all depends on the traders. 

• Numerous trading modes – Instant execution, as well as 2 markets, 4 pending and 2 stop orders and a trailing stop function. 

• Advanced analytics – The traders can experience the 30 analytical tools in trading, including 7 timeframes, Japanese candlestick and many more tools. 

Mobile Trading Application – 

The broker offers a mobile application for quick trading anywhere at any time for the traders. It is very helpful for the officers who are busy in daily life; they can trade from anywhere with a mobile application. The app is download free of cost, and it is available on android and ios mobile phones.

Features of the Mobile Trading application 

• Use the stop loss option.
• The full control of your account is in your hand. 
• In the mobile application, the broker provides a wide variety of charts that helps the traders. 
• The mobile application is available for both androids as well as ios. 
• Multilingual dedicated support
• The trader has an option of live chat with the customer support services.  

What are the key influences of mobile trading application?

• Instant market news and events – In the mobile application, the market news and events related to the financial system is notified by the application to the traders. 

• 7 different trading frames – Set them according to your need, strategies within the one-minute to one-month time limits. Be the one in control over your market plans and trading bids.

• Analytical tools and indicators – The broker offered the professional analytical tools use bars, Japanese candlestick, charts, Fibonnaci retracement and more tools.

MetaTrader 4 –

MetaTrader 4 is the award-winning computer software used by many traders around the world. MetaTrader 4 is favoured by professionals as well as beginners traders. The platform has a wide variety of features and tools and is available for both mobile and web trading.  

What are the key influences of the MetaTrader 4 platform?

• Easy of use – It is very easy to use a one-click option that can help implement your trading strategies. All the charts are shown on the platform, which can help to trade in future. 

• Trading signals – It has the ability to show the trading signal; with the help of this, the traders know whether to invest the money. 

• Mobile trading – The MetaTrader 4 platform is available on both androids as well as ios mobile phones.  

• Security and protection – The account is totally safe from hackers, and all the data is completely secured in the platform, only the data shared with the server and user.

• Analytical and technical indicators – Before investing the money in trading, explore all the charts that are shown on the platform and decide whether to invest the money. And also, technical tools are available to analyse the market. 

Which are Instruments for Trading with ETFinance?

Cryptocurrency CFDs

• It is authorised and regulated by the Cyprus Securities and Exchange Commission.
• Commission-free trading is available. 
• No unexpected or hidden charges. 
• It offers professional analytical tools.
• Access the market 24/7 
• The platform has a technical team and professional support for traders. 

Commodity CFDs

• More than 17+ instruments available to trade. 
• The currency available for trading is SUGAR 11, CORN, COFFEE, NATURAL GAS, BRENT CRUDE OIL and more.

Stocks CFDs

• More than 150+ instruments available to trade. 
• The currency available for trading is APPLE, AMAZON, FACEBOOK, BMW, DAIMLER, BARCLAYS, VODAFONE and more.  

Metal CFDs

• More than 4+ instruments available to trade. 
• The currency available for trading is XAUUSD, XAGUSD, COPPER, PLATINUM and more.

Forex CFDs

• More than 50+ instruments available to trade. 
• The currency available for trading is EUR/USD, EUR/DKK AUD/CHF, GBP/JPY, USD/ZAR and more.

Indices CFDs

• More than 20+ instruments available to trade. 
• The currency available for trading is CAC, FTSE, DAX, DOW, IBEX, AEX, VIX and more.

How is Account Opening Process of ETFinance?

• STEP 1 – You need to fill the application form in which the name, phone numbers, email, country code, etc.
• STEP 2 – You need to fill the questionnaire, which you have to answer related to trading plans and goals.
• STEP 3 – After that, the documentation is necessary to verify the ID proof. 
• STEP 4 – At last, you need to deposit the initial amount of capital to start the trading. 

What are Commissions and fees of the ETFinance?

• The broker charges the inactivity charges if the trader is inactive in the market for more than 60 days. 
• The broker earns through swap charges, not from the commission on trading, because the broker offers commission-free trading and doesn’t charge the unexpected or hidden fee on trading. 

What are the Deposit and withdrawal Options with ETFinance?

• The traders are free to deposit unlimited funds in account, but when the withdrawal time the broker charges, they might be charged the fee above 100 euros. 
• Deposit and withdraw the funds using a variety of processes like skrill, Neteller, MasterCard and Maestro, etc. 

How much is Leverage with ETFinance?

The professional traders’ leverage is up to 1:400, but the leverage for the retail traders is up to 1:30; it depends on the trader to trader. 

How is the Research Section of ETFinance?

The platform provides a wide variety of tools for trading.

•  Economic calendar
• Trading signals
• Daily news 

Does ETFinance offers Education Support?

The broker provides the best educational material through:

• VOD
• Webinars
• Courses
• Tutorials
• Ebooks
• Articles 

What are Pros of trading with ETFinance? 

• Broker is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
• 250+ CFDs asset is available to trade.
• The broker uses the MetaTrader 4 platform for trading. 
• A variety of instruments are available like cryptocurrency, commodity, metals, indices and forex.
• The broker doesn’t charge any commission on trading.  
• Offers the educational resources. 

How to contact Customer service of ETFinance?

The broker has the offered professional customer support service to the traders to solve the query. And also provide the option of live chat with the team. The customer support timing is 10 am to 8 pm GMT.

The detail of the broker:

• Phone number -+8006 003 7004
• Email – [email protected] 

The Bottom Line 

ETFinance is the best broker in the market. The features and services are excellent for traders to trade. The broker provides all the necessary things which are required for the retail or professional traders. The broker is a well regulated and authorised broker.

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