ETFinance is a relatively new name in the industry although they are backed by the established Magnum FX, headquartered in Cyprus. Our ETFinance review team has been very impressed with how quickly the broker, a trading name of Magnum FX has taken off.
The broker began operating in 2016 and is already regulated by the highly trusted CySEC within their home nation of Cyprus and around Europe.
Beyond being a well-regulated broker, they are also award-winning and pride themselves on being able to provide commission-free trading on all accounts to traders in most countries around the world.
- Well-regulated by one of the most trusted bodies in global finance.
- Commission-free trading is offered throughout.
- An extensive range of educational material is available.
- No proprietary trading platform is offered
- Bonuses are limited due to the stringent regulatory requirements in place.
What can you trade?
ETFinance Forex Review
As far as forex trading goes, our ETFinance review team uncovered a wide and impressive range of choices to trade. The broker provides a total of 62 currency pairs for trading. This range covers all of the most common and popular major currency markets like USD/GBP, USD/EUR, and many more.
Our ETFinance forex review also discovered a large range of options when it comes to minor currency pairs and some exotic forex trading options too. This should leave you with plenty of flexibility when trading with ETFinance.
The Forex trading costs with the broker are also marvelously competitive. This will depend somewhat on the account type you choose from the three-tiered system, though spreads can start from as little as 0.03 pips when trading on the top-tier platinum account, and are still hugely competitive starting from just 0.07pips in the same markets for the entry-level silver account type.
Through our ETFinance forex review delighted to note that every account type, regardless of level, offers commission-free trading throughout. This can result in great savings no matter what type of trader you are.
Leverage in our ETFinance forex review we found, reaches a maximum of 1:30 due to CySEC regulations for traders, though this can be extended to as much as 1:500 if you happen to qualify for a professional account.
ETFinance CFD Review
ETFinance continues to come into its own when you carry out an ETFinance CFD review. Here you will find hundreds of CFDs to be traded across a diverse range of asset classes. Stock, metals, commodities, cryptos, indices, and ETFs are just some of the assets you can invest in through ETFinance CFD trading.
Our ETFinance CFD review also unveiled the same excellent approach to transparent trading with limited fees and no commission charges across CFD trading with the broker. This is an excellent selling point for any trader who wants to engage in competitive trading at the best possible prices.
ETFinance Stocks Review
During our ETFinance CFD review, this is the point at which we found the broker came into their own. With stock trading, there are in excess of 150 markets available to be traded as stock CFDs.
As we found with our ETFinance forex review, these markets can be fluently traded with no extra fees or commissions beyond the initial and still very competitive spread. These markets in companies like Facebook, Google, and more, are offered to the complete accompaniment of traders who use the broker in Europe.
This level of inclusivity is something else which makes ETFinance a really easy broker to trade with.
ETFinance ETFs Review
For anyone interested in trading ETFs, ETFinance certainly has a diverse range of those available to choose from as well. You can invest in the likes of financial, industrial, or energy sector selections and they even offer an inroad to the booming cannabis market through one ETF.
A great option for those who wish to diversify their portfolio and trading experience, again at the best possible rates.
ETFinance Crypto Review
Our ETFinance cryptocurrency review found that the only market available for trading at this time is the Bitcoin US Dollar market. This is OK and may well be expanded in the future, though it does not quite keep pace with some other brokers in the industry who are offering multiple markets in trading cryptocurrency.
The fees though remain competitive here as in all of the markets covered in our ETFinance CFD review, so it can act as a good introductory point for you in the crypto trading world.
What did our traders think after reviewing the key criteria?
This is an area within our ETFinance UK review and globally where we felt that the broker excelled beyond some others in the sector.
Their dedication and commitment to providing a commission-free environment for traders is noticeable, somewhat rare in the industry, and a very positive point for you as a trader.
Our ETFinance review team strongly felt that the fees levied by the broker were both fair and very transparent through every market and account type. There are not that many fees in place at all, and those that are in place are clearly identified.
The ETFinance review uncovered a stellar choice of account options for you as a trader. Naturally, this starts with the ETFinance demo account which is convenient and fast to open, giving you a flavor of what is to come when trading with the broker.
Moving to live trading, or ETFinance review team noted three distinct account types to select from that are laid out in a tiered format. Starting with the Silver, moving onto the Gold, and finishing up with the Platinum level account.
This is the perfect combination to satisfy your trading needs at every level, with more benefits to be unlocked as you advance upward through the account levels particularly in relation to the spread value which is available.
When it comes to trading platforms available with ETFinance, you will be happy to discover that the broker deals with Metatrader to offer the full range of platform availability encompassing both MT4, MT5, and Webtrader.
In this package, you not only get to trade with some of the most reliable and well-known trading platforms in the sector, but also access their strong range of technical capabilities when it comes to professional trading tools and charting capabilities.
These are some of the reasons that our ETFinance review team are always glad to see the Metatrader platforms available, and why they have continued to be a mainstay in the industry among top forex traders.
With MT5 you also have a top trading platform that can handle CFD trading with ease and make the process very professional in terms of execution.
Usability and user experience are some things that our ETFinance UK review team considered very strongly when undertaking the review. We know that a certain level of intuitiveness is very valuable in saving time and easing the process of getting to know a broker. This is exactly what ETFinance provides in its offering.
The broker site itself is extremely clean and clear in its white, minimalist style design. This makes it very comfortable to move around for a user and simple to view and understand all of the options, menus, and functions available.
When you do follow these sub-menus, you are delivered to your intended destination without delay. This speed of process and level of consideration for the end-user is something you do not always see, but that was very much welcomed by our ETFinance review team.
Customer support is always a key aspect of any review, and our ETFinance review is no different. As a trader here you will find that support is readily available from a number of mediums.
Telephone, email, and web-based live chat are all accessible methods you can receive customer support through. These functions are available during the hours of 8am-8pm GMT beyond which the team will return your contact by email.
There is also a well-provisioned FAQ area on the broker site which can answer any questions you may have, often without needing to contact the customer service team at all.
This is an area of the broker which our ETFinance UK review team felt could be improved slightly. Of course you can still access a couple of major funding methods to get your account up and running. These are through bank wire transfer and major credit or debit cards. There are also no fees associated with funding which is a positive, though you may want to check with your bank if they apply any fees on transfers.
There are a number of other methods like Neteller, Skrill, and PayPal funding which are unfortunately not catered for at the present moment, but the most popular deposit methods are still available.
When it comes to bonus offerings, unfortunately, our ETFinance review team could not find any suitable bonus available to traders.
A major factor in this is the broker’s availability only in the EU and the stringent regulations imposed by CySEC which do not allow for any ETFinance bonus to be provided. This is, in fact, a positive point though, as it proves the willingness of the broker to comply with regulation.
Regulation and Deposit Protection
This is another key area where our ETFinance review team felt the broker performed very strongly. Even though they have only been in operation for a relatively short period, they are already very well regulated.
This regulation comes from CySEC who are without doubt one of the foremost in the field when it comes to the regulation of forex brokers and CFD trading. They provide for a very solid and well-trusted framework where the protection of you as a trader always comes as a first priority.
Since the broker has only been operating for a relatively short period of time, our ETFinance review team understands that they have been more focused on crafting the perfect trading environment than winning awards.
They have however teamed up with MetaTrader to provide one of the most decorated trading platforms in terms of awards through the last more than a decade in the forex trading industry.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.