ETFinance Review
As a novice to the digital world or would-be trader, choosing a platform that is intuitive, easy to use and operational, that allows traders to explore their powerful features easily and quickly. It’s always refreshing to find a trading platform that consolidates multiple types of trading on the same website. You could delve into assets; dip your toes into the waters of crypto trading or try forex trading easily.
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ETFinance is a regulated financial company that provides its clients with advanced and secure trading experience. It is well regulated by CySEC – one of the most trustworthy and recognized body in the world of finance and trading.
It a European online forex broker that offers a variety of trading products inclusive forex, commodities, indices, stocks, cryptocurrencies and ETFs. The company provides its clients with immeasurable comfort and convenient trading experience as well as providing clients with profitable results regardless of clients experience, age, financial status, age and goal during their cooperation. ETFinance gears toward providing traders with a firm foundation and cutting-edge platform that allows traders to trade at the best of their potential.
ETFinance is a reliable digital brokerage and adaptable trading platform launched in aiding ventures in stock funds. As an award-winning digital platform, ETFinance plays a key role in the global Fintech and crypto community as well as extending their services to both institutional and retail investors. With the diversity in technology advances, ETFinance extends its services to cryptocurrency and also providing its client with advanced and secured payments and trading solution.
The platform has developed several options to help traders trading with forex and crypto to overcome various lags such as insecurities, high trading fee, prolonged confirmation as well as KYC verification issues. Below are highlights on everything you need to understand concerning the range of services offered by ETFinance and how it works.
| Broker | ETFinance |
| Minimum Initial Deposit | $250 |
| Demo Account | Yes |
| Leverage | 1:30 1:500 |
| Asset coverage | CFDs on forex, stock, commodities, indices, and cryptocurrencies. |
| Trading Platforms | MetaTrader4, WebTrader, iOS Trader, Android trader and Desktop Trader platform |
| Account Types | Silver, Gold, Islamic and Platinum |
Why was ETFinance Launched?
Currency trading can be very volatile and the unique characteristics of Forex trading, including leverage and a market that is open 24 hours, making it very attractive for retail traders.
Digital cryptocurrencies such as Bitcoins have become very popular in recent years and due to ongoing global uncertainties and seemingly unstable monetary systems, these types of currencies may have a bright future ahead, since they represent an alternative to centralized and politically controlled currency forms.
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ETFinance was launched in 2018 as a digital foreign exchange broker focusing its research on global financial inclusion through the introduction of mobile apps and web trading options. ETFinance features the most popular trading platform – Meta 4. Besides popularity, MT4 is an exceedingly user-friendly platform which gives you access to some of the most unique and essential features in ETFinance such as:
- A market order to help you buy and sell
- A pending order for advanced trading
- Buy and sell limits to automate trading
- Mobile Responsive
- Features to customize trading
- Lots of technical indicators
- Trading signals
Also, ETFinance offers a unique and simple commission-free trading account that is ideal for beginner traders. Also, the trading conditions, spreads were quite appealing, and if you are a professional broker, you can surely enjoy good leverage as well. In addition, the web-interface and Client Area is also simple to use, helping users navigate between opening live and demo trading accounts. ETFinance aims at bridging the gap between the crypto world and mainstream financial scene hereby providing a well-regulated environment for crypto commodities and derivatives.
Unique Feature ETFinance Offers
Multi Payment Methods
ETFinance offers it, clients, an advance, easy and secure payment method as well as a digital cashier to improve execution and progress during the transaction of funds with swift deposit and withdrawal into accounts. ETFinance allows clients to use several banking options such as:
- Bank transfer
- Skill
- Neteller
- Trustly
- Credit cards such as MasterCard and VISA
Their system is designed to cut down protracted processing time during the transaction which is enabled in the payment method while making service free. However, withdrawal and deposit varies with the financial institution and card issuer. The safety and protection of client funds is guaranteed.
Security and Safety of Funds
Security and Safety of funds are subjected to more advanced vulnerabilities manipulated by malevolent intention using the strong technological technique. Diverse encryption is employed to ensure the safety of funds and account of clients as it requires a two-factor authentication ensuring client’s account privacy and protection.
The company collects the data necessary to ensure credible service for productive business as well as protect the asset and isolation of clients. Data voluntarily provided by clients is used by the company to improve the quality of service provided, customize client navigation, provide clients with additional products, service and promotion that may be of interest to the client.
Market Diversity
Market Diversities involves acknowledging that marketing and advertising must offer alternative ways of communicating with traders. It aims to develop a mix of different communication methods, in order to reach traders in each of the diverse groups present in the market. It also helps business owners and operators in all level connect with society through communication channels that best reach them whereby creating brand awareness for the company exposure.
With the aim of maximizing profit, ETFinance provides Clients with diverse options to enable them to access markets. Giving Clients advantage to forex brokerage services on various commodities and cryptocurrencies while giving them the opportunity to harness the benefits of trading through Contract For Difference (CFDs).
CFDs is a financial contract that pays the differences in the settlement price between the open and closing trade. It essentially allows Investors/Clients to trade the direction of securities over the very short-term and are especially popular in forex and commodities products. CFD traders may bet on the price moving up or downward. Traders who expect an upward movement in price will buy the CFD, while those who see the opposite downward movement will sell an opening position. Although, they are considered risky due to unpredictability in market or trend movements. However, ETFinance decrease the risk with tools that enable traders to watch and manage trends or market movement.
ETFinance have diverse commodities that will be of interest to clients that wish to start and they include forex trading, stock trading, indices trading, Metal trading, commodity trading and crypto trading.
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Account Types
ETFinance offers three distinct live trading account types suitable for all types of traders, from beginners to professionals. These accounts are highlighted by minimum deposits, bonuses, leverages, the exclusivity of offers and most importantly the level of experience. They include:
Silver: This being the lower value metal is the entry-level account for ETFinance. It is unknown at this time what the deposit requirement is but the account comes with over 750 tradable assets, 1:30 maximum leverage for retail traders and 1:400 / 1:500 for people classed as professional. Spreads start at 0.07 which is unclear but we will go into more details regarding spreads later in this review.
Gold: The gold account has a slightly reduces spread at 0.05, leverage remains the same for both retail and professional traders. This account comes with a dedicated account manager, access to webinars and videos and also allows hedging. There is also a nice 25% discount for swap charges.
Platinum: The platinum account is the top-level account, it further reduces the spreads to 0.03 and leverage remains unchanged. This account also has access to an account manager, webinars and videos, a further reduced 50% discount on spreads and now also has news alerts and a free VPS.
All account types can be used as an Islamic account if you are not allowed to receive or pay interest such as swap charges due to your beliefs.
Platforms
MetaTrader 4 (MT4) is one of the world’s most popular trading platforms and for good reason. Released in 2005 by MetaQuotes Software, it has been around a while, it is stable customizable and full of features to help with your trading and analysis. MT4 is compatible with hundreds and thousands of different indicators, expert advisors, signal providers and more. Millions of people use MT4 for its interactive charts, multiple timeframes, one-click trading, trade copying and more. In terms of accessibility, MT4 is second to none, available as a desktop download, an app for Android and iOS devices and as a WebTrader where you can trade from within your internet browser. MetaTrader 4 is a great trading solution to have.
Tradable Products
In addition to all of the assets that ETFinance has, the broker offers a wide range of tradable assets. Besides, trading with ETFinance is commission-free, almost on all the instruments. Here is a list of some products available on the website:
Forex – Up to 50 pairs, EURUSD, EURDKK AUDCHF, GBPJPY, USDZAR, and more…
Indices – 20 + CAC, FTSE, DAX, DOW, IBEX, AEX, VIX, etc.
Commodities – SUGAR 11, CORN, COFFEE, NATURAL GAS, BRENT CRUDE OIL, and more…
Stocks – 150 most popular stocks on the market. BMW, APPLE, FACEBOOK, AMAZON, DAIMLER, VODAFONE to mention but few.
Leverage
Leverage is any technique involving the use of borrowed funds rather than fresh equity in the purchase of an asset, with the expectation that the after-tax profit to equity holders from the transaction will exceed the borrowing cost, frequently by several multiples. Leveraging enables gains to be multiplied. On the other hand, losses are also multiple, there is a risk that leverage will result in a loss if financing costs exceed the income from the asset or the value of the asset falls.
Having good Leverage allows Traders/Clients to earn more on the platform. Leverage being one of the most unique features in every trading platforms as it influences market position, profits and losses. Leverage varies depending on how ETFinance class you as a trade, if you are assigned as a retail trader (someone who is new to trading) then you will have a leverage up[ to a maximum of 1:30, if you are classed as a professional trader, then you will have a maximum leverage up to 1:400 or 1:500.
Trading Costs
There are no commissions charged on any of the accounts with ETFinance, at least not according to the website, each account uses a spread based system that we will look into later on in this review.
There are swap fees charged on accounts though, these are either paid or received when holding a trade overnight, they can be viewed directly within the MetaTrader 4 trading platform. If you have an Islamic account then you will not pay these, however, there will be an administration charge added to the account.
Asset
Plenty of assets on offer, in fact, the website states that there are over 750 available to trade. These are broken down into 5 different categories. In the forex group, you have major pairs, minor pairs, and exotic pairs, these include the likes of EUR/USD, AUD/NZD and CHFJPY. There are also crypto pairs, and there are a lot of them, too many to list individually but the major coins such as Bitcoin, Ethereum, Litecoin, and Ripple are there and tradable against multiple different currencies.
There are indices such as the FTSE 100, DAX 30 and SP 500 along with many more. Commodities are also present and there are plenty of them, including metals such as gold and silver along with others such as Coffee, Corn and Orange Juice. Finally, there are stocks, this is where the majority of the 750+ assets mentioned lie with stocks from the USA, Europe and the rest of the world present and tradable.
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Spreads
The spreads mentioned on the accounts page can be a little confusing, usually, it states the spreads for currency pairs, however on the accounts page it is going for the lowest spread possible which comes with some of the commodities.
In regards to currency pairs, they are as low as 0.7 pips on the platinum account, the crypto pairs have floating spreads and no minimum is given on the website. All spreads are technically floating (variable) which means that they move with the market and when there is a lot of volatility will often be seen much higher than the stated amount.
It is also important to note that the minimums stated are for the platinum accounts and the lower tier accounts will have slightly higher spreads as a minimum. The final point to note is that not all pairs and assets have the same starting spread, EUR/USD as an example has a minimum spread of 0.7 pips while AUD/CAD has a minimum of 3.6 pips.
Deposit Methods & Costs
Just three methods available for depositing and they are the once most frequently found with forex brokers. You can deposit via credit and debit card, Trustly, bank transfer, and Skrill. There are no added fees when depositing but be sure to check with your own bank just in case they charge their own transfer fees. There may be other methods to deposit, but we were not able to locate them.
Withdrawal Methods & Costs
You can use the same methods to withdraw as you do to deposit, similarly to the deposits, there are no added transfer fees by ETFinance however check with your own bank to see if they will charge any incoming transfer fees.
It should be noted that if you deposit and then withdraw with only 1 or fewer trades being made, ETFinance may charge a withdrawal fee of $50, so ensure that at least 2 trades have been made before withdrawing.
Withdrawal Processing & Wait Time
Withdrawal requests will be processed on the day they are made as long as the request is before 11 am GMT, if they are made after 11 am GMT then they will be processed the next working day. Credit and debit cards will then take an additional 1 to 5 working days and bank transfers a further 3 to 5 days before they clear into your account. Trustly and Skrill withdrawals should arrive within 20 minutes of the request being processed.
Educational & Trading Tools
On the outside, it appears that ETFinance offers quite a lot when it comes to education. They offer some webinars and it seems like they have one every few days, plenty of ended events and it does not appear that you can rewatch the ones that have already been which is a shame. There is also an earnings calendar which is based around the earnings reported by a lot of companies, not really beneficial unless you are a stock trader. Articles are the next section which as well, articles about various different aspects of trading and about different things that may affect your trading.
There is also a video section that has a number of different videos about various subjects including MetaTrader 4, and different things like a risk in trading. There are also some Ebooks to download, we didn’t get to take a look but there are a few on topics that could be helpful to new traders. Finally, there are courses and tutorials which go over a number of different trading aspects to help give you the edge.
While there is a lot of content, none of it is truly groundbreaking and is very similar to other sources on the internet.
Conclusion
ETFinance is a broker company with an impressive product and features portfolio. Besides, it offers a variety of currency pairs and CFDs on the renowned, user-friendly MT4 platform. ETFinance is a reliable broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC).
Also, ETFinance offers a unique and simple commission-free trading account that is ideal for beginner traders. Also, the trading conditions, spreads were quite appealing, and if you are a professional broker, you can surely enjoy good leverage as well. In addition, the web-interface and Client Area is also simple to use, helping users navigate between opening live and demo trading accounts.
