ETFinance Review

ETFinance Review – A Fully Regulated Brokerage Platform for Investors

Unless you’re investing in the financial markets for the first time, then you probably understand that using a good and efficient brokerage service for your trades can significantly affect your risk ratio.

Using a good brokerage service is vital for the following reasons:

  • Adequate fund security
  • Access to multiple financial markets
  • Access to a wide range of tools and information
  • Swift and efficient trade executions
  • Support for technical issues 

While most of these benefits are well-known, both beginner and expert traders could still face a challenge when it comes to picking the right broker. This difficulty is contributed to by the fact that there are many shady brokers who loot customer funds instead of offer the services they claim to provide.

Additionally, some brokers only offer access to trade one or two financial markets, forcing investors and traders to signup on multiple platforms for trading separate asset classes. But that, of course, doesn’t mean that reliable brokerage platforms do not exist.

In this article, we’ll look at some of the benefits traders and investors stand to gain by using ETFinance, an EU-based broker. 

ETFinance Review

ETFinance is the brand name for Magnum FX (Cyprus) Ltd, a financial services company that is registered with the Cyprus Securities and Exchange Commission (CySEC). This registration notably sets the brokerage service apart from most competitors who operate with either incomplete or unclear regulatory approval.

Data from the CySEC website shows that Magnum FX is registered as an investment company since 2018, and thus can offer cross-border services to clients in 28 EU-member countries, as well as the United Kingdom.

Interestingly, a primary CySEC requirement that ensures the safety of client funds is that investment companies like ETFinance maintain a EUR 700,000 operating capital at all times and ensure its client funds for up EUR 20,000.

These measures clearly mitigate the risk of bankruptcy and at the same time assures customers that funds can be recovered in the event of an ugly incident like theft, or security breach.

Platform Features

In line with the earlier benefits that we mentioned at the onset, ETFinance’s platform provides a range of features and account tiers that cater to different categories of investors. Let’s review some of these:

Access to Multiple Financial Markets

Using ETFinance provides traders access to the financial market, even though there are certain restrictions depending on the type of account you create on the platform. Generally, though, ETFinance clients can trade Stocks, Forex, Metals, Indices, Stocks, Commodity, ETF, and even CFDs based on cryptocurrencies.

The ability to trade all these assets on a single platform makes ETFinance a suitable option for anyone with a diversified portfolio, or simply want to explore the wider financial market down the line.

Metatrader 4 Support

For both new and experienced traders, the Metatrader 4 interface is ideal since it supports swift trade execution, over 50 modifiable technical indicators, and support for automated trading via the use of trading robots.

With ETFinance, traders can enjoy Metatrader 4 support on web and desktop. Additionally, the brokerage service offers a mobile app, just in case you’re the sort that loves to trade the market on the go.

Flexible Account Options

Depending on your trading style and experience, either of the three account types available on ETFinance is good options, with trading conditions improving throughout the hierarchy.

The Silver Package for beginners offers access to some 750 assets alongside a 0.07 minimum spreads and 1:30 maximum leverage. However, this package does not feature a dedicated account manager, nor the educational tools which are only available to Gold and Platinum account holders.

Note that while a 1:30 maximum leverage is stipulated for retail traders across all account tiers, ETFinance offers leverage up to 1:500 and swap discounts between 25%-50% for professional traders.

Another interesting account tier on the platform is for Muslims who because of their faith despise interest fees. ETFinance offers a unique trading experience without interest or swap charges on overnight positions.

Educational Resources

As noted above, ETFinance has a wide range of educational resources that can help you raise your game as an investor or trader plying your trade in the global financial market. These resources include ebooks, Video-on-demand, calendars, courses, and tutorials.

The downside, though, is that you will miss out on the resources if you do not sign up for either a Gold or Platinum Account.

Multiple Payment Gateways

You should face little to no issues with funding and withdrawing from your ETFinance account since the platform offers a plethora of payment options. Beyond the basic funding that you can do with a Visa or Mastercard credit and debit card, you can also fund your account using Neteller or Skrill.

Live Customer Support

ETFinance has a 24/5 customer support service that includes a LiveChat option available on the website, and a phone contact. Once again, though, the support options are improved as you go through the account tiers. Gold and Platinum users have a dedicated account manager which entails a quicker response time on inquiries.

Diverse Language Options

Do you prefer surfing sites in your local language?

Users can explore the ETFinance website in six other languages aside from English. Supported languages include Spanish, Portuguese, Swedish, Dutch, Italian, and German.

A Global Brand

Aside from the regulatory strongholds, ETFinance is an official sponsor of the Real Madrid basketball team, lending more credence to the company’s existence as a globally reputable brand.

The firm also boasts cordial partnerships leading payment processors to facilitate custody, security and seamless movement for client funds.

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Final Words

Trading the financial market in notably a risky endeavor, meaning it would be unwise for any investor or trader to increase their risk ratio by using an untrusted or inefficient brokerage platform.

However, trading with a regulated, license and user-optimized brokerage services like ETFinance presents a way for anyone to mitigate basic risks, and focus on opportunities to maximize profit on their trades.

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