ETFinance is a CFD brokerage based in Cyprus and operated by Magnum FX, a leading Cyprus Investment Firm, regulated by the Cyprus Securities and Exchange Commission (CySEC). Offering a range of products as CFDs, ETFinance provides opportunities for a wide range of traders and investors. The broker offers various financial instruments and award-winning platforms, but is it the best CFD broker for you? Our broker comparison will take a close look at what ETFinance CFD trading offers, but in short, here are some of the key features of the company:
- Reasonable leverage offered
- Award-winning trading platform
- Offers a range of instruments
- 24/7 market access
- 1. CFD Trading Offer: Trade a Wide Range of Instruments
- 2. CFD Trading Costs: Low Costs and Competitive Spreads
- 3. Accounts: Various Perks and Benefits
- 4. CFD Trading Platforms & Mobile Trading: ETFinance Has a Range of Platforms
- 5. Usability of the Website: An emphasis on Simplicity
- 6. Customer Support: A Little Room for Improvement
- 7. Methods of Payment: Secure and Convenient Options
- 8. Additional Offers: Free Training Videos, Account Managers, and Demo Accounts
- 9. Regulation & Deposit Protection: Regulated and Licensed by CySEC
- 10. Awards: Uses the Award-Winning MetaTrader 4 Platform
- 11. Conclusion: Our Verdict on ETFinance CFD Trading
Trader Rating Total
depends on type of account
up to 1:30
MT4, Broker-owned Software
1.) CFD Trading Offer: Trade a Wide Range of Instruments
ETFinance CFD trading allows customers to easily buy and sell popular financial instruments as CFDs, including commodities, indices, stocks, cryptocurrencies, and foreign currencies. Currencies available include major, minor, and exotic pairs. Commodities include oil, precious metals, and agricultural assets. Popular indices such as the FTSE 100, S&P 500, and DOW30 can also be traded. Market access is available 24/7 and it is quick and easy to sign up for an account, with the choice of either a retail or professional account. Leverage available will depend on the type of account you have and the instrument being traded. Most commodities and indices are available, with a leverage of 1:10 on retail accounts (and up to 1:200 on professional accounts). Stocks and shares offer leverage of 1:5 for retail and 1:50 for professional traders. Maximum leverage on currency pairs for professional traders is up to 1:500. Retail traders can enjoy leverage of up to 1:30 on major and minor currency pairs and up to 1:20 on exotics. Cryptocurrencies are offered with leverage of 1:2. As well as investment services, ETFinance offers other ancillary services, such as the safekeeping and administration of financial instruments, including custodianship and related services.
- Good range of financial instruments and products
- CFDs available for all relevant assets
- Reasonable leverage offered, even for retail clients
2.) CFD Trading Costs: Low Costs and Competitive Spreads
ETFinance aims to keep costs low, with no trading fees or commissions on forex trading, and low commissions on other instruments such as commodities. Where no commission or trading fee is levied, as is the case with currency trading, then the broker’s profit is, of course, taken from the spreads. Spreads are dynamic, so the spreads quoted at ETFinance vary but are generally fairly tight, providing a reasonably cost-effective trading option for CFD traders. Current spreads for each currency pair are clearly displayed on the website.
The commission-free model means forex traders can make as many transactions as they want, without paying additional fees, which is an attractive option for active traders. When it comes to CFD trading with ETFinance, there is no compulsory minimum deposit and few hidden extras. Opening an account is free, though some funding and withdrawal methods may incur fees, depending on your country, bank, credit card company, and other factors. The cheapest, albeit least convenient deposit and withdrawal method is generally a bank transfer, which will often be free or incur a small nominal charge.
- No commissions or trading fees on forex
- Competitive spreads
- Low commissions on other instruments
3.) Accounts: Various Perks and Benefits
Signing up for an ETFinance CFD trading account is easy, quick, and secure. Clients can choose from a retail or professional account, with the retail account obviously being best suited to most private investors. Retail accounts are easy to open, and getting started is straightforward and intuitive. The main differences between retail and professional accounts are the leverage on offer and the margin closeout percentages. As mentioned above, those with a professional account can access high leverage, with up to 1:500 on currency pairs, 1:200 on most commodities and indices, and 1:50 on stocks and shares. Retail customers can only expect to access leverage of 1:20 to 1:30 on forex, 1:10 on commodities and indices, and 1:5 on stocks and shares.
The margin closeout percentage on a professional account is 15%, whereas on a retail account it is 50%. Professional account holders also have access to VIP Platinum Education, contests, and other benefits. It is worth noting, however, that both account types have negative balance protection, the option of a dedicated account manager, and access to basic educational resources. Retail account holders also enjoy certain protective measures, via the Investor Compensation Fund (ICF). Depending on your trading activity, you may become eligible to re-categorise your account, but it is important to consider all factors before doing this.
- Good perks for both account types
- Retail account holders are protected by the ICF
- High leverage and other benefits for professional accounts
4.) CFD Trading Platforms & Mobile Trading: ETFinance Has a Range of Platforms
ETFinance offers a few different platforms to suit the needs of various traders. Their web-based WebTrader platform offers an excellent trading experience that can be accessed via any browser from any device. This is an innovative platform that incorporates simple navigation and a variety of technical analysis tools. There is also the possibility for traders to start with a demo account (valid for two weeks) so they can find their way around the platform and explore the tools and opportunities on offer. A demo account is also available for CFD traders who are already using the award-winning MetaTrader 4 platform.
ETFinance has the MT4 platform available to use on both desktop and mobile devices, with its wide range of functions, features, and integrations. If you’re a trader who already loves the world-renowned and very intuitive MT4 experience, you will no doubt choose to stick with this platform. ETFinance also provide easy mobile trading via a well-designed mobile app, available free for iOS and Android devices. The mobile app provides a surprisingly good user experience, with similar features to the browser-based WebTrader platform.
- Cutting-edge, web-based platform, accessible from any device
- MT4 platform available
- Easy mobile trading via app or browser access
5.) Usability of the Website: An emphasis on Simplicity
The website is clean and modern with a very simple, uncluttered feel. Lots of white space and a minimalist design allows the user to focus on information and usability. There is a clearly displayed top bar menu that leads you to all the most important elements of the site that you might need to access, including products, education, and legal information. Scrolling down the home page will lead you to other useful sections and all the important contact information you may need, including the opportunity to chat live with customer support staff and ask any questions you may have. Clicking Products in the top bar menu will take you to individual pages for indices, commodities, forex, etc, all of which have further information specific to these instruments, and relevant to CFD traders. You’ll find information on exactly how to open your account and get started with the platform. You can sign in to your account at the top right of the home page or any other page, and set your language preferences. The website is extremely simple and information can seem a little sparse, but on closer inspection, all the important information you would expect to find is there, along with easily accessible support if you have questions or queries.
- Clean and simple design
- Easy to navigate
- All important information is there
6.) Customer Support: A Little Room for Improvement
As mentioned above, the website is very simple and information is a little sparse. This makes navigation easy and for many users is far preferable to an overly complicated or cluttered design. However, we noted at the time of our review that there was no general FAQ page or help section for new customers, which is a feature many brokers include and many traders appreciate. A searchable help section, in particular, can be highly useful when new or potential customers have queries or need clarification on basic activities such as account opening and funding.
ETFinance does provide an extensive video on demand (VOD) section, offering basic and advanced CFD trading tips, which is very useful. In addition, the customer service section itself is more than adequate. There are options to contact customer support staff by phone or email, as well as by the very convenient and always popular live chat. Customer support professionals are helpful and well informed, and customer support is available 24 hours a day, Monday to Friday, with the phone line manned from 7am to 7pm GMT, Monday to Friday.
- No FAQ page or help section
- Live chat, phone and email options available
- Some form of support available 24 hours a day, five days a week
7.) Methods of Payment: Secure and Convenient Options
ETFinance have a range of secure and convenient methods of deposit and withdrawal available for their account holders. Customers are able to pay via some third-party online payment wallets, such as Skrill and Neteller, as well as by major credit cards and debit cards. There is also the option to deposit and withdraw funds by bank transfer. The broker does not seem to be offering the same range of payment options as some of their competitors – there is no option to pay by PayPal or paysafecard at this time, for example.
Withdrawal requests can only be made online via the official Client Area within your account, and in order to withdraw, you will need to provide full details of the method that you used to deposit, including any supporting documentation. You may, for example, have to provide a bank statement, including your bank’s IBAN or bank reference, in order to request a bank transfer. In accordance with international anti-money laundering requirements, traders can only transfer funds to a bank account held in the same name as the trading account. Withdrawals from active accounts are free, but the broker may charge a withdrawal fee of 50 euros if there is insignificant trading activity on the account prior to withdrawal.
- Limited payment methods
- No minimum deposit
- High withdrawal fees on inactive accounts
8.) Additional Offers: Free Training Videos, Account Managers, and Demo Accounts
Professional account holders at ETFinance can access VIP educational resources, contests, and other benefits, but there are no promotions or bonuses currently available to retail account holders. Retail account holders can, however, access the general education section, a dedicated account manager, and a free demo account in order to familiarise themselves with the WebTrader platform, although this is only available for two weeks. ETFinance CFD trading does well with its general education section, which is in the form of a video on demand (VOD) library, with a range of free training videos for both new and more experienced CFD traders.
These videos cover a range of CFD trading basics and go into detail on various technical indicators and common CFD trading strategies. There are videos on understanding candlesticks when using technical analysis tools, Fibonacci trading, and chart formation patterns, among other topics. The videos can effectively be studied as an online course, with individual topics often having two or three lessons, covering successively more complicated aspects of the same strategy, technique, or indicator.
- Some special offers and perks for professional account holders
- Free demo account, albeit with restrictions
- Plenty of training videos on a variety of topics
9.) Regulation & Deposit Protection: Regulated and Licensed by CySEC
ETFinance is a branded CFD trading brokerage, owned by Magnum FX (Cyprus) Ltd, which is a leading Cyprus Investment Firm, fully licensed and regulated throughout the EEA by the Cyprus Securities and Exchange Commission (CySEC). The broker is also governed by the European Securities and Markets Authority (ESMA), under which it is obligated to provide certain types of protection to its account holders, such as the customer compensation protection provided via the Investor Compensation Fund (ICF), which is available to all clients holding retail accounts with the broker.
ETFinance keeps customer assets safe and protected, storing customer funds in segregated accounts with secure European banks, so that in the event of insolvency, client funds are protected as the personal assets of the brokers’ clients, rather than treated as recoverable assets owned by the company itself. To further protect clients, ETFinance keeps all customer data and sensitive information secure, using rigorous firewalls and Secure Sockets Layer (SSL) for top-quality data protection.
- Fully licenced and regulated by CySEC
- Client funds kept in segregated accounts
- Customer compensation provided via the Investor Compensation Fund
10.) Awards: Uses the Award-Winning MetaTrader 4 Platform
Our CFD broker comparison review involved taking a quick look at where this broker stands out in comparison to its peers and competitors, and we generally assess this by looking at awards won. As a relatively new brokerage, it is unsurprising that ETFinance has not yet had time to accrue awards and accolades within the industry. This may well change in the future, as the broker has certainly done everything necessary to establish a quality CFD brokerage, but only time will tell, of course. ETFinance have made sure that one of their trading platforms, at least, is an award winner. As many CFD traders are aware, the MetaTrader 4 platform is well known and highly respected in CFD trading and has won numerous awards in the past, including the Best Multi-Asset Trading Platform at the 2016 Finance Magnate London Summit Awards. The broker is also starting to get positive reviews on comparison sites dedicated to the world of CFD trading. ForexBonusLab.com recently gave ETFinance a five-star review in their independent broker review.
- Relatively new CFD broker so has not yet accrued awards
- Offers the award-winning MT4 Platform
- Starting to receive positive reviews
Conclusion: Our Verdict on ETFinance CFD Trading
ETFinance CFD trading offers an excellent option for CFD traders at all levels, including newer traders with limited funds. It offers a variety of products and instruments, from forex to stocks to indices. Retail accounts offer customer compensation protection, negative balance protection, and multi-lingual support. The website is very user friendly, as are the trading platforms, and MT4 traders can get started quickly on a familiar platform. There is a demo account available, dedicated account managers, on-demand training videos, and decent leverage. We would like to see a searchable help section in the future, but customer service is responsive when queries arise. Solid security measures are in place, with best practices followed regarding encryption, customer asset storage, and compensation procedures. With so many benefits already in place, it is reasonable to assume ETFinance CFD trading will continue to be a popular choice for keen CFD traders.
- Wide range of instruments to trade as CFDs
- Licensed and regulated, with high-level security in place
- Choice of quality trading platforms, including MT4
- Relatively young company with few reviews or awards
- Demo account is restricted to only two weeks
- No FAQ page or searchable help section