ETFinance Review

Overall ETFinance can be summarised as a credible and trustworthy broker and is considered an average risk with competitive trading fees and spreads. ETFinance has an overall trust score of 7/10 and is authorized and regulated by CySEC.

ETFinance at a Glance

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 250

Regulators

CySEC

Trading Platform

MT4

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

ETFinance Review – 21 key points quick overview:

1. ETFinance Overview
2. ETFinance  Safety and Security
3. ETFinance Sign-up Bonus
4. ETFinance Minimum Deposit
5. ETFinance Step by step guide to depositing the minimum amount
6. ETFinance Account Types
7. ETFinance Account Features
8. How to set up an ETFinance Demo Account – Step by Step
9. ETFinance Islamic Account
10. ETFinance Trading Platforms
11. ETFinance Fees and Spreads
12. ETFinance Deposit and Withdrawal
13. ETFinance Current Popularity Trend
14. ETFinance Best Countries by Traders
15. ETFinance vs Etoro vs XM – Comparison Table
16. ETFinance Customer Reviews
17. ETFinance Pros and Cons
18. Conclusion
19. Disclaimer
20. Risk Management
21. Frequently Asked Questions

ETFinance Overview

According to research in South Africa, ETFinance is an online global Forex and CFD broker that is based in Limassol, Cyprus. ETFinance was founded in 2018, and even though the broker is new to the world of forex trading, they have already begun to make a name for themselves.

ETFinance  Safety and Security

One of the best benchmarks to measure the safety of a broker like ETFinance is to establish which regulating authorities are watchdogs over its actions.

ETFinance is regulated by the Cyprus Securities and Exchange Commission (CySEC).

ETFinance Sign-up Bonus

ETFinance does not offer a welcome bonus to traders who register for a real account.

ETFinance is regulated by the Cypress Securities and Exchange Commission (CySEC), which, under ESMA provisions, has restricted the offering of broker bonuses and promotions to traders within its jurisdiction.

As a general explanation, a bonus can be best understood as a way of compensating traders for having decided to open an account with a chosen broker.

Once an account has been opened with a Forex broker, clients will have access to trading of currency pairs, and will therefore have to incur some expense for this trading. The bonus is just a way for the broker to reward the trader’s choice and give all or some of these expenses back to the trader.

New traders should note however that bonuses are not available on demo accounts, though many brokers do offer the opportunity to sign up for a free demo contest, with prizes available.

ETFinance Minimum Deposit

The minimum deposit amount required to open a broker account with ETFinance is $250 (R3489.76 USD/ZAR at the time of writing). This is a slightly higher minimum deposit requirement than that of many other brokers in the industry, who average between $10 and $100 (R 139.59 – R1395.90 USD/ZAR at the time of writing).

Still, this deposit amount should not present too high a barrier of entry to most new traders.

ETFinance Step by step guide to depositing the minimum amount

Depositing into your account with ETFinance consists of the following steps:

Step 1 – Log in

• Once you have registered, log in to your trading account

Step 2 –Make the deposit

• Navigate to the funding area on your client dashboard
• Select your preferred deposit method. This is the same method by which you will be required to make withdrawals in future
• Specify the amount you wish to deposit and confirm your deposit details

Step 3 – Review your transaction

• Submit your deposit.
•  Depending on the method you chose, it might take a couple of days for your deposit to show up on your brokerage account. When it happens, the brokers usually send you an email to confirm the receipt of the deposit.

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 250

Regulators

CySEC

Trading Platform

MT4

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

ETFinance Account Types

ETFinance provides traders with three account options, which consist of Silver, Gold, and Platinum Accounts. Each account has been designed for different experience levels, starting with Silver for newcomers, Gold for seasoned traders, and Platinum for experts.

Added to this, traders can also apply for a demo account upon registering with the broker and test out the numerous trade features in a risk-free environment before commencing live Forex trading.

ETFinance Account Features

Silver Account

The Silver account has everything you need at the beginner’s stage.

750 Assets

07 Minimum Spreads

1:30 Maximum Leverage

Full 10-hour support from 10 am – 8 pm GMT

 Gold Account

05 Minimum Spreads

1:30 maximum leverage*

1:400/1:500 maximum leverage**

Dedicated account manager

Webinars & videos

Hedging

Swap discount of 25%

 Platinum Account

03 minimum spreads

1:30 maximum leverage*

1:400 / 1:500 maximum leverage**

Dedicated account manager

Webinars & videos

Swap discount of 50%

News alerts

Free VPS

Professional Traders

Professional trading terms allow more freedom for maneuvering and fully carrying out your trading strategies.

If you believe you have enough experience and talents, apply for a pro account, and enjoy premium trading conditions, for all available assets, early access to products, and extensive loyalty programs that will turn your trading journey into a more enhanced experience.

Applicants must have opened an average of 10 trades per quarter over the previous four quarters with leveraged trade size of €3,000 or more for cryptocurrencies/stocks or €12,500+ for investments in Forex/commodities

Applicants must have at least one year of professional experience working in the financial industry, and with leveraged products or CFDs in particular.

Applicants must have a trading portfolio equivalent to or exceeding €500,000 including cash deposits and financial instruments.

How to set up an ETFinance Demo Account – Step by Step

Opening a demo account with ETFinance will consist of the following steps:

Step 1 – Open Your Account

• You will first need to register for a real account before you can open a demo account

Step 2 – Fill out the form

• Go to the account registration area on the ETFinance website. This can be done by clicking on Open Account at the top of the landing page
• Fill out the online registration form. You will need to provide your full name, email address, and country of residence
• Once your registration has been approved, you can then choose to sign up for a demo account

Step 3 – Documents & Deposit

• To verify your account, you will need to submit the following documents:
• Proof of identity
• Proof of residence
• Once your account is approved, you can make your first deposit via one of the secured payment methods: a credit card, a bank transfer, or an e-wallet.

A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money.

A forex demo account is also intended for beginners to get familiar with the various aspects of trading.

As such, a demo account will allow traders to learn how to place orders, and manage existing trade positions as well as more advanced functions such as testing or fine-tuning a trading strategy.

If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.

ETFinance Islamic Account

ETFinance also offers an Islamic Account to traders of the Muslim faith. There is a significant difference between silver, gold, and platinum accounts and an Islamic Trading Account.

As traders of the Islamic faith are forbidden to pay interest to abide by the law of Islam, some Forex brokers use swap charges to cover the interest.

However, although the charge is transferred to a different type of fee, the meaning is still the same. ET Finance, on the other hand, imposes no additional charges.

Furthermore, traders with the Islamic Account will have the following competitive features:

Raw pricing on Islamic Account

Instant free access to trading platforms

No spread widening

Leverage of up to 1:400 for professional clients

No hidden costs of requotes

Same trading environment, same trading conditions

No upfront commissions

24/5 support from a dedicated account manager

No time limit for holding positions

Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.

With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.

Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

ETFinance Trading Platforms

The forex trading platform provided by ETFinance is the software to carry out trades. Some brokers provide only one trading platform whereas others offer several.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

ETFinance provides the immensely popular MetaTrader 4 platform.

ETFinance Fees and Spreads

Traders with ETFinance can expect the following spread list:

Average spreads on major forex pairs are 0.7 pips for the EUR/USD, 1.3 pips for the GBP/USD, and 0.9 pips for the EUR/GBP. Spreads are variable, meaning that they fluctuate with market conditions.

The broker offers a commission-free structure on trading so that the pricing offer is extremely competitive overall.

ETFinance Deposit and Withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be made through the same avenues as deposits, but this may differ from one broker to the next.

ETFinance requires a minimum deposit of 250 USD and supports the following deposit and withdrawal methods:

Visa

MasterCard

Maestro

V Pay

Verified by Visa

MasterCard Secure Code

SSL, and

Skrill

ETFinance Current Popularity Trend

As According to Google Trends, here is an overview of how frequently the search term – “ETFinance” is entered into Google’s search engine over a given period of time.

ETFinance Best Countries by Traders

ETFinance vs Etoro vs XM – Comparison Table

ETFinance Customer Reviews

I like this broker

I like this broker. Trading conditions are quite decent, and the platform and website are really easy to use. Customer support answers quickly and is really helpful.

I have been trading on this site for.

I have been trading on this site for several months, and quite successfully, a reliable trading platform. They respond quickly and competently to solve any problems that arise. Many thanks!

I am more than satisfied with the site

I am more than satisfied with the site, the platform is very fast, which is a large benefit. Reliable and trustworthy, very useful. I highly recommend trading with this broker. Thank you very much for your quick and efficient methods of trading.

ETFinance Pros and Cons

Conclusion

Overall, ETFinance can be summarised as a credible and trustworthy broker and is considered an average risk with competitive trading fees and spreads. ETFinance has an overall trust score of 7/10. ETFinance offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.

Disclaimer

ETFinance warns potential customers that Forex and CFDs trading carries a high risk and may not be suitable for all investors.

Before deciding to trade with ETFinance, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

ETFinance warns that margin trading involves the potential for profit as well as the risk of loss.

Those movements in the price of foreign exchange and commodities are very unpredictable, hence ETFinance cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

You might also like: ETFinance Account Types Overview

You might also like: ETFinance Demo Account – Step by Step

You might also like: ETFinance Fees and Spreads

You might also like: ETFinance Islamic Account Overview

You might also like: ETFinance Minimum Deposit

You might also like: ETFinance Sign up Bonus

Risk Management

ETFinance is a financial services company that provides investment services, including risk management. ETFinance offers its clients tools and strategies to manage risk in their investments, such as diversification, stop-loss orders, and portfolio rebalancing. The company also provides educational resources and market analysis to help clients make informed investment decisions and manage risk effectively.

Frequently Asked Questions

What are the advantages of trading with ETFinance?

Trading Forex with ETFinance has a special advantage. The trader is compensated with bonuses in the form of rebates against the spreads

Which platforms are supported by ETFinance?

Webtrader, MetaTrader 4, and a mobile application.

What type of broker is ETFinance?

ETFinance is an STP Forex broker that also adheres to high standards of safe trading in accordance with established rules.

Is ETFinance a fake or a scam?

No ETF Finance is not a fake or scam broker because

• It holds clients’ funds in segregated accounts with reputable Cyprus or European Economic Area credit institutions.

• ETF Finance is a member of the Investor Compensation Fund in the event that the company’s financial responsibilities are not met.

What is the overall rating out of 10 for ETFinance?

The overall rating for ETFinance is 8/10.