We have tested one of the world’s fastest-growing online trading platforms, ETFinance. Keep reading to find out everything there is about the broker!
ETFinance is a CFD Broker that features on its trading platform CFDs on forex, stocks, indices, commodities, ETFs and cryptocurrencies. ETFinance is a trading name of Magnum FX (Cyprus) Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. The minimum spread charged by the broker is for a popular currency pair EUR/USD 0.7 pips*. The ETFinance website is available in 7 languages: English, German, Spanish, Portuguese, Dutch, Italian, Swedish.
Update to 04.06.2020 – MagnumFX (Cyprus) ltd license has been partially suspended. For your consideration, the Company currently is serving only its existing clients.
The Company is not permitted to provide regulated financial services to residents of the United Kingdom.
What do we cover in our ETFinance Review?
|General Risk Warning: 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- ✅ Website address: www.ETFinance.eu
- ✅ Leverage: up to 1:30
- ✅ Instruments: CFDs – forex, stocks, indices, commodities, ETFs, cryptocurrencies
- ✅ Minimum deposit: $250/€215/£200
- ✅ Demo account: Yes, free of charge
- ✅ Methods of deposit and withdrawal: Skrill, Neteller, Credit and debit cards (Visa, Mastercard, Maestro)
ETFinance Trading Platform
ETFinance offers for CFD trading MT4, a popular choice of many traders when it comes to selecting a trading platform. This trading platform can be used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The number of available assets at ETFinance hovers around 500.
As any other CFD broker, ETFinance charges a spread fee. For the most current spread charges, please visit the ETFinance.eu website. The charged spread differs on the traded asset and the account type that the trader has; here is a breakdown of spreads that apply to popular currency pairs.
*Minimum spreads recorded on 28.06.2019 at 11:42 GMT for the platinum account. Data about spread charges were taken from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
Cryptocurrency trading with ETFinance
ETFinance features on the MT4, 19 cryptocurrencies: BTC, BSV, BTG, DSH, ETC, ETH, IOT, LSK, LTC, NEO, QTM, SIC, USDT, XEM, XLM, XRP, XVG, ZEC, ADA, BAB. Every coin can be traded against the US dollar, some of them also against the euro or pound sterling. In total, there are available 33 cryptocurrency pairs.
Magnum FX (Cyprus) Ltd is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 359/18.
The CySEC regulation gives Magnum FX and its subsidiary ETFinance the right to provide cross-border services to other members of the European Economic Area.
Advantages and disadvantagesEvery Broker has its pros and cons, let's have a look at the ones that elevate & denounce ETFinance.
- Tight spreads
- A wide variety of cryptocurrency pairs
- Around 500 tradable assets
- Does not support Paypal
Is ETFinance a scam?
No, ETFinance is a CySEC regulated company that complies with MiFID and follows the restrictions of the ESMA.
What is the minimum deposit?
The minimum deposit is at ETFinance $250/€215/£200.
What cryptocurrencies the broker features?
ETFinance features on the MT4, 19 cryptocurrencies: BTC, BSV, BTG, DSH, ETC, ETH, IOT, LSK, LTC, NEO, QTM, SIC, USDT, XEM, XLM, XRP, XVG, ZEC, ADA, BAB.
What trading platform ETFinance offers?
ETFinance offers for CFD trading MT4, a popular choice of many traders when it comes to selecting a trading platform. This trading platform can be used not only for executing trades but also for analyzing financial markets and automated trading.
To sum up the ETFinance Review
ETFinance adheres to strict regulatory guidelines of the CySEC. The broker features a good amount of CFDs on which it charges very solid spreads. The website of the company is modern, light and simple. The company also offers an option to open a free practice demo account. The only disadvantage I could spot is that ETFinance does not support Paypal deposits and withdrawals, but all and all, ETFinance is a broker to keep an eye on.
General Risk Warning: 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with ETFinance.