Etfinance Review 2021

By Author: george
Total Articles: 14
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Introduction

A go-to trading platform for potential investors, ETFinance has been growing impressively well over the years. It started its forex trading journey in 2018, and after that, there’s no looking back for the company. With a mission to make their clients have a unique and smooth experience of trading. The company has achieved a lot, a firm foundation and cutting edge, improving trade and trading for investors.

It has the facility of navigating through the global markets using the most efficient and award-winning trading platforms -- Web Trader and MetaTrader4 are the best trading platforms in the forex market. Both the trading tools are easy and efficient for trading use. We’ll quickly get into the details of ETFinance and explore more features of this brokerage firm. So, let’s get started.

ETFinance: Pros and Cons

ETFinance has some amazing features to attract beginners and professionals of trading. In short, we have tried to give an overview of the best features and a bit of the drawback of ETFinance. Below are the points that any trader should consider before investing in ETFinance ...
... and enjoying trading benefits as per the requirements.

Pros:

200 plus trading assets
Commission-free trading
Educational facilities
Fast STP execution
High leverage and tight spreads

Cons:

No trading platforms for U.S based clients
Price and news alerts are not available for clients other than Platinum holders

ETFinance: Scam and Regulations

ETFinance is a properly regulated brokerage firm and not a scam operating under Magnum FX (Cyprus) Ltd. It is the brand name of Magnum FX Ltd., with the domain name www.etfinanace.eu and regulated by Cyprus Securities and Exchange Commission. The firm is licensed below Magnum FX Ltd. with number 359/18.

ETFinance is registered under the number 360548, and other than this, ETFinance has several regulatory authorities. As it operates in Europe and is registered over there, it has authorities regulating it. These include names like Sweden’s financial supervisory authority (FI), Financial Supervisory Authority (FSA), Authority for the Financial Markets (AFM), Financial Market Authority Austria (FMA) and Financial Supervisory Authority of Norway ( Finanstilsynet).

Magnum FX Ltd. offers investment and ancillary services for clients. These help in the execution of the transactions and administer the financial instruments on behalf of the clients.

ETFinance: Trading Accounts

ETFinance has diversified accounts to serve the various needs of its clients. As a result, all the clients can choose an account as per their wants and trade with the leading broker in the forex market—this helps to utilise the skills of traders and give practical trading experience.

The accounts are discussed below with details to have a detailed understanding:-

Silver Account

An account for the novice of the trading market, this account has everything one needs at the starting stage. With 750 assets, maximum leverage of 1:30, 0.07 minimum spreads and an Islamic account option. The silver account is available for service for ten hours from 10 am to 8 pm GMT.

The account is customised specially for beginners and set as per their needs. This account will be a good choice to learn and know the market. A trader would be able to develop strategies and analyse the market with a minimum deposit of funds to trade online.

Gold Account

Gold account is for the experienced traders who belong to the middle category, having experience and trying out the knowledge. This account has all the facilities the trader can put into use, from minimum spreads of 0.05, maximum leverage of 1:30 and 1:200, a dedicated account manager, swap discount of 25%, hedging, webinars and videos and Islamic account. It is an account for retail investors, a type of retail account—a feasible account helping in growing the trade and investing with proper guidance.

Platinum Account

An account for the professionals of forex trading. Platinum accounts have extra benefits and tools to make the trading experience worthwhile for investors. In addition, the account has some additional features that include news alerts and free VPS.

Platinum account has minimum spreads of 0.03, 1:30 and 1:200 maximum leverage, dedicated account manager, webinars and videos, swap discount of 50% and an Islamic account. The best services one can get to explore the forex trading market and enjoy the trade with efficient tools.

Islamic Account

A trading account for Islamic faith traders where they have the provision of not paying the interest. There is a swap discount to cover up the interests in trading. The points, in short, tell us about this type of account.

No interest or swap charges
No spread widening
Leverage 1:200 for professional clients
No commission
No limit for holding positions
24/5 support of a dedicated manager
No hidden costs

ETFinance: Account Opening

Every broker has a similar process for opening an account; the steps are pretty simple and easy to open an account. Below discussed are the steps the trader should follow to trade with ETFinance.

Go to the website of ETFinance ( the trader can search online for ETFinance official website)

Next is to check the website, find the login, and open an account option at the top right-hand side.

If the trader is new to the website, they need to register with the firm first, with this click login.

In the login option downside is the registration option; click on that register.

Some personal information is asked like name, number, address and email address.

Once this is done, the trader must set a password and fill in valid ID proof details.

Now, traders can choose the type of account from silver, gold and platinum. With these, there's an Islamic account for religious people.

After these steps are completed, traders can deposit minimum funds or as per their needs.

Now the trader is all set with the account and can start trading.

The account trading can take a day to verify the trader and deposit the funds due to the method used for transfer.

ETFinance: Trading Platforms

ETFinance has three trading platforms to ease the process of forex trading. These are MetaTrader4, WebTrader and Mobile Trading.

MetaTrader4

One of the most used and flexible trading platforms, MetaTrader4 is used by traders for its user-friendly interface and the best trading tools. MT4 is an award-winning platform for beginners and experienced traders. It has a facility of analytical and technical indicators, timeframes, security, tools, expert advisors and is available for all the devices. An efficient and straightforward tool for traders to forecast the trade and invest with knowledge and understanding of the forex market.

Web Trader

It is a gateway to all the devices a trader prefers, connecting the financial market and investors. A user can use the trading tools directly through a web browser and trade in the market with no installations. Thus, allowing traders to trade with internet connection and is supported by eleven languages. In addition, MT4 is available for both Mac and Android users through the web trader.

Here, the history of trade, real-time balance, automatic stop loss and take profit and live support features are available. With one click, the trader can explore the in-built platform support and the market.

Mobile Application

A feasible option for the traders where they can trade anywhere and anytime. Through the application of ETFinance, a trader can trade and know market changes with mobile services. An easy way to trade and use the trading tools. A trader with an android application can, through the play store, download the application and use it; similarly, an Apple trader can, through the app store, download the mobile application. Increasing the speed of trading and instant access to CFD trading.

ETFinance: Trading Instruments

ETFinance has several trading instruments available for the clients these are:

Assets Index
Forex Trading
Metals Trading
Indices Trading
Stock Trading
Commodity Trading
CFD Trading
Cryptocurrency Trading
ETFs Trading
Future CFDs Calendar

ETFinace: Commissions and Spreads

ETFinance has no commission or fee charges applicable for the clients. Therefore, the traders can trade freely without any worry.

On the other hand, it has various tight spreads for the account held; a silver account has a minimum spread of 0.07, a gold account has a spread of 0.05, and a platinum account has a spread of 0.03. Thus, with these accounts, there is an Islamic account with no spread widening.

ETFinance: Leverage

The leverage is something that increases the trading position of an investor in comparison with the initial deposit.

There are various leverage ratios charged with the kinds of accounts. For example, a silver account has 1:30, gold and platinum accounts have 1:30 and 1:200 leverage options, and for the Islamic account, the professional traders can leverage 1:200.

ETFinance: Deposits and Withdrawals

The accounts provided by the ETFinance have a minimum deposit of $215. With the minimum deposit of funds for trading, an investor can use different modes for the same. For example, they can use bank wire transfers, e-wallets, credit and debit cards etc., and the e-wallets could be Skrill and Neteller etc.

The withdrawals are also accessible with the facility of methods of withdrawals; the payment could take 2 to 3 days of deposit or withdrawal, depending on the method used for deposit and withdrawal.

ETFinance: Education and Research

ETFinance has the best solutions to guide and train. There is educational support for enhancing the skills of the traders. They help to advance in knowledge, understand and use the strategies appropriately. There are a lot of facilities available- trading articles, earnings reports, season, assets hub, trading signals, economic calendar and trading courses. All these make trading easy and empower the traders with the potential knowledge and skills.

Research helps in decision making and knowing about the entry and exit points of the trading market—the tools like economic calendar, earnings, analysis and market help to trade better. As a result, the research could earn profits and have a high position in the market.

ETFinance: Customer Support

ETFinance has good customer service available 24 hours a day. They have a contact number, email address and live chat to be in touch with their clients.

Available: Monday to Friday

Timings: 3:00 to 18:00 GMT

Live Chat Support

Contact number: +80060037004

Email Address: support@etfinance.eu

Final Verdict

The first-ever broker to get the sponsorship of the Real Madrid basketball team, ETFinance has the trust of many customers/investors. An award-winning broker with all the amenities and enhancing the forex trade. With CFDs trading in all the assets and more than 750 assets, it is one of the best choices for trading. A trader must visit their website with every information required, and investors can even educate with simple registration and an account. Trading is convenient with ETFinance, and the leverage, low spreads and commission-free trading are the top-ups one can get. A must try broker for trading with efficiency and transparency.

FAQ’s

Is trading safe and secure with ETFinance?

Yes, trading is secure and safe as they are regulated by CySec and several other authorities of Europe.

What is the minimum deposit required?

The trader is required to deposit a minimum of $215 for all the accounts.