ETFinance Review

Open Demo Account
Trader Rating
13 minutes read/Updated: 07 July 2020

ETFinance is a relatively new name in the industry although they are backed by the established Magnum FX, which is headquartered in Cyprus. Our team was very impressed with how quickly the firm has taken off.

The broker began operating in 2016 and is already regulated by the highly regarded Cyprus Securities and Exchange Commission (CySEC) within their home country of Cyprus and across Europe.

Besides being regulated, 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.

Strengths
  • Regulated by one of the most trusted bodies in global finance.
  • Commission-free trading is offered on all account types.
  • An extensive range of educational material is available.
Weaknesses
  • No proprietary trading platform is offered

What can you trade?

Open Demo Account

ETFinance Forex Review

£250 Min Deposit
Good App Support
1:30 Max Leverage

Their Forex offering has a wide and impressive range of instruments to trade. Traders have access to a total of 62 currency pairs for trading, which includes all of the major currency pairs like GBP/USD, EUR/USD. USD/JPY, the minor currency pairs and some exotic pairs.

The many currency pairs available to trade should provide you with plenty of flexibility when trading with this broker. 

You also get very competitive rates and costs when trading forex pairs, which vary depending on your account type. Spreads on the top-tier platinum accounts start from as low as 0.03 pips, while the entry-level silver account offers spreads from 0.07 pips, which are still very competitive.  

We were pleasantly surprised to discover that every account type offers commission-free trading, which is great for all its clients. Commissions can eat into your Forex trading profits, hence, commission-free trading can lower your trading costs significantly. 

Traders get the standard 1:30 leverage mandated by the CySEC’s regulations, however, professional traders can have access to as much as 1:500 leverage since they are regarded as sophisticated investors. Traders with a professional account are allowed to take on more risk, which could lead to higher losses, which is a major drawback for most traders. 

Open Demo Account

ETFinance CFD Review

£250 Min Deposit
Good App Support

Traders get access to hundreds of CFDs when trading with ETFinance across a wide range of assets classes. There are CFDs on stocks, metals, commodities, cryptos, indices, and ETFs among others, which you can easily trade. 

We found that the transparent pricing offered in the Forex space by the firm was carried over to CFD trading where all costs are clearly outlined. The pricing structure should appeal to traders who are looking for a low-cost broker who offers very competitive pricing on all tradable assets. 

Trading CFDs allows you to buy or sell the underlying assets without having to actually own the assets such as a stock or an index.

Open Demo Account

ETFinance Stocks Review

£250 Min Deposit
Good App Support
1:5 Max Leverage

We had to mention the fact that traders have access to over 150 instruments under the stock CFDs category, which is quite impressive for such a young company. 

There are no additional fees or commissions charged on the stock CFD trades, except for the very competitive spreads offered by the firm. Traders based outside the US have access to a wide range of US stocks such as Facebook and Google, which they can easily trade as CFDs. 

The huge number of stocks available to trade really sets the company apart from its competitors making it a great choice for most traders.

Open Demo Account

ETFinance ETFs Review

£250 Min Deposit
4 App Support
1:10 Max Leverage

For anyone interested in trading ETFs, there is certainly a diverse range of those available to choose from as well. You can invest in the likes of financial, industrial, or energy sector ETFs and they even offer access to the booming cannabis market via one ETF.

ETFs are a great option for those who wish to diversify their portfolio and trading experience, again at the best possible rates.

Open Demo Account

ETFinance Crypto Review

£1 Min Deposit
Many App Support
1:2 Max Leverage

We were disappointed when we found that the only instrument available for trading at this time is the Bitcoin US Dollar pair, which is OK. However, we hope that the category will be expanded in future as it is not at par with others in the industry who currently offer multiple assets in the cryptocurrency segment.

The fees though remain competitive here as in all of the markets covered above, so it could act as a good introduction for people interested in trading cryptos.

What did our traders think after reviewing the key criteria?

Fees

This is the part of our analysis where we felt that the firm excelled above many others in the sector.

Their dedication and commitment to providing a commission-free environment for traders is noticeable and quite rare in the industry, which is a huge win for you as a trader.

Our team felt strongly that the fees levied by the broker were both fair and very transparent across every market and account type. There very fees in place at all and those that are there are clearly outlined.

Account Types

There is a stellar choice of account options for you as a trader. Naturally, this starts with the demo account which is convenient and fast to open, giving you a taste of what is to come when trading with the broker.

Moving to live trading, we noted a selection of three distinct account types to choose from that is laid out in a tiered format. Starting with the Silver, then the Gold, and finally the Platinum level account.

This is the perfect combination to satisfy your trading needs at every level, with more benefits being unlocked as you progress through the account levels, particularly in relation to the spreads available.

Platforms

When it comes to the trading platforms available, you will be pleased to discover that you get access to the Metatrader platforms, which include the MT4 and MT5 platforms, and the bonus Webtrader.

etfinance platform

Through this package, you not only get to trade using the most reliable and well-known trading platforms but you also get access to their advanced technical capabilities when it comes to creating professional trading tools and charting capabilities.

These are some of the core reasons why we are always glad to see the Metatrader platforms available, and why the platforms remain a mainstay in the industry used by the top forex traders.

With MT5 you get a top trading platform that can effortlessly handle CFD trading while ensuring that the process is extremely professional in terms of execution.

Usability