ETFinance Review

ETFinance Review

CONTENT

  • GENERAL INFORMATION
  • FUNDS TRADING AND SECURITY
  • TRADING ACCOUNTS
  • CONDITIONS
  • TRADING PLATFORM
  • ETFINANCE’S TRADING PRODUCTS
  • CUSTOMER SERVICE
  • CONCLUSION

Broker Review: ETFinance

ETFinance

General Information

ETFinance is a Cyprian online brokerage that began operating in 2019. The company’s offices found on Agias Fylaxeos Street, 3025 Limassol.

As soon as you open up ETFinance’s website, the Real Madrid Basketball Club sponsorship deal should draw your attention. Recently, many brokers have opted to chase such agreements with sports clubs as a marketing outlet. More specifically, they’ve been targeting European teams as a way to break into the continent’s market more efficiently. The sponsorships usually target football clubs, as the sport is more widespread across European countries, but basketball isn’t far behind. As such, a deal with such a recognizable name in sports is quite significant.

ETFinance Website

On a related note, the thought ETFinance put into designing its website is quite commendable. Although looks aren’t the determining factor in whether you’ll use a brokerage, few can argue against good visual design is positive. In fact, not only does that make the website nicer to look at, but it also shows a degree of carefulness and attentiveness. ETFinance’s design is visually sound, with everything fitting together nicely, unlike many other brokerages that look like they have multiple templates mashed together.

Moreover, the pleasing visual design does not take away from the website functionality, either. There are no long loading screens between webpages. In fact, on the broker’s end, the site runs entirely smoothly. When searching for info about the broker, traders will have an easy time, as everything is readily presented. Whatever you need to know is always only a few button presses away, as the broker neatly sorted all relevant information into adequate categories.

Let’s take a look at some of the features the broker provides its customers with:

ETFinance

 

·         EDUCATION

Educational materials are becoming more and more important as the finance world spreads further. The pandemic has left many with more free time to spend, and some have decided to try their hand at trading. That has led to many brokers to experience an increase in brand-new traders. As getting over the initial stages of trading is perhaps the biggest hurdle, having something to help with that is vital. ETFinance has an in-depth educational library, with articles, eBooks, VODs, and more.

·         AWARDS

In a short time, ETFinance has been operating, it has already earned recognition as a globally competitive brand. Lastly, the brokerage has secured a deal with one of the biggest names in European sports, which is an achievement by itself. All that speaks volumes about the broker’s seriousness and devotion to providing a top-notch experience.

 

Funds Trading and Security

 

ETFinance

Security is among the most important factors to consider when looking at a new broker. It’s a vital component to good service, and you shouldn’t settle for a firm you do not feel safe with. The unease usually comes from somewhere, and if your gut is telling you something isn’t right, you’re usually correct.

Starting from the regulation, the broker adheres to strict CySEC license requirements. The Cypriot watchdog is quite stringent, and cooperation with them is usually a reliable indicator of security. Even if the broker were to misstep, which is unlikely, the regulator can step in.

The broker also follows the recent MiFID II regulation that aims to ensure a fair and secure trading experience. That means new traders have restrictions on their trading experience, preventing them from getting ahead of themselves.

 

Trading Accounts

Before investing anything into ETFinance, you can open a demo account. The account has some funds on it, meaning the trading experience you’ll get from it is authentic, minus the actual money going in and out. New traders can get quite some mileage out of the account, as they can use it to familiarize themselves with the trading process. On the other hand, seasoned traders will be able to inspect the overall experience and asset list in detail. Demo accounts are always a welcome feature and are a sign that the broker is proud of the service they crafted.

A live account requires the $250 investment that you’re probably already used to by now. That’ll get you the Silver account. If you want one of the two higher account tiers. That gets you a few additional features and improves certain conditions, such as leverages and spreads.

There’s one more significant distinction, between the retail and professional accounts. Retail is the default and targets new traders, with integrated risk-reducing procedures. However, those procedures also come with downsides in severely limited leverage rates, for example. The Professional account uncaps your leverage and comes with additional benefits but requires some documentation from traders. Both versions have their advantages, so the better one depends entirely on the trader.

Here are some of the specifications each account has:

trading accounts

 

·         SILVER

750 Assets

0.07 Minimum Spreads

1:30 Maximum Leverage

Full 10-Hour Support 10 AM – 8 PM GMT

Islamic Account

 

·         GOLD

750 Assets

0.05 Minimum Spreads

1:30 Maximum Leverage (Retail)

1:400 Maximum Leverage (Pro)

Full 12-Hour Support 7 AM – 7 PM GMT

Dedicated Account Manager

Webinars & Videos

Hedging

25% Swap Discount

Islamic Account

 

·         PLATINUM

750 Assets

0.03 Minimum Spreads

1:30 Maximum Leverage (Retail)

1:500 Maximum Leverage (Pro)

Full 12-Hour Support 7 AM – 7 PM GMT

Dedicated Account Manager

Webinars & Videos

Hedging

50% Swap Discount

News Alerts

Free VPS

Islamic Account

 

Trading Conditions

ETFinance’s trading conditions offer reasonable leverage rates, and the spreads are tight. The depth of assets is quite impressive and allows for choice quality and diversification. Additionally, the platform the broker uses is quick and allows for precise and transparent trades.

The firm is covered by a strict regulator in CySEC and needs to adhere to MiFID II. That creates a situation where any misbehavior would be severely punished, and as such, wouldn’t be anywhere near worth it. However, the broker’s history shows us that it treats its customers well and wouldn’t even attempt any shady practices.

Even the brokers that are usually deemed as less important are great. For example, the broker provides Islamic accounts for traders that choose to follow Sharia, increasing its reach. Additionally, the demo account and educational materials ensure that new traders can smoothly get into the finance world.

The Trading Platform

ETFinance chose to use MetaTrader4 as a basis for their trading services. We commend the choice as the platform is among the most powerful and prominent finance tech solutions. There’s a reason it’s been the industry standard for years, and part of it success is its versatility. It can accommodate both newer and experienced traders, making it the perfect all-round platform.

It also has two significant convenience options in the Web and Mobile Traders. The first allows for download-less use of the platform from any desktop internet browser while only slightly slowing down. The second will enable you to download an app and trade anywhere by using your preferred mobile device.

 

ETFinance’s Trading Products

One of the greatest strengths of ETFinance’s trading experience is the massive amount of assets they provide. Their trading instrument collection extends further than most other brokers and by quite a large margin. Namely, the broker has over 700 assets distributed across multiple categories. That volume allows for simple portfolio diversification, as well as increasing choice quality by increasing variety. The asset classes you can expect to see are CFD’s on:

  • Forex
  • Crypto Pairs
  • Commodities
  • Indices
  • Stocks
  • ETF

 

Customer Service

The support at ETFinance has a 12-hour per day work time, starting with 7 AM and ending with 7 PM. The customer service team works Monday to Friday, meaning you can reach them through the entire workweek. The methods you can use to contact them are the standard modes including email address, phone line, or live chat.

Phone number: +80060037004

Email: [email protected]

customer service

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage 83% of retail investor accounts lose money when trading CFDs with this provider.

 

 

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 5 (13 reviews)