etfinance.eu Review: Is etfinance Legit or Scam Broker? - Topedgefx.com

etfinance.eu Review: Is etfinance Legit or Scam Broker?

Welcome to etfinance.eu review. ETfinance is a Forex and CFDs broker operating under the supervision of MAGNUM FX (CYPRUS) LTD.

ETfinance is regulated by CySEC and adheres to the spirit of MIFID II. The reason this broker is potentially a good choice for traders is because they offer a variety of trading instruments. These include Forex, Crypto pairs, indices, Commodities and Stocks. All of these are offered on the good old MT4 trading platform.

ETFinance review

In addition to this, they provide WebTrader and Mobile app which serve the purpose of MT4 platform only that most traders prefer the legendary MT4 to other trading platforms.

The 3 account types provided by ETfinance.eu are as follows: [tabs][tab title=”Silver Account”]

  • 750 Assets
  • 0.07 Minimum Spreads
  • 1:30 Maximum Leverage
  • Full 10-hour support from 10am – 8pm GMT

[/tab] [tab title=”Gold Account”]

  • 0.05 Minimum Spreads
  • 1:30 maximum leverage*
  • 1:400/1:500 maximum leverage**
  • Dedicated account manager
  • Webinars & videos
  • Hedging
  • Swap discount 25%

[/tab] [tab title=”Platinum Account”]

  • 0.03 minimum spreads
  • 1:30 maximum leverage*
  • 1:400 / 1:500 maximum leverage**
  • Dedicated account manager
  • Webinars & videos
  • Swap discount 50%
  • News alerts
  • Free VPS

[/tab][/tabs]

ETfinance.eu also takes care of traders of the Islamic faith by providing them with interest-free account types.

If you’d like to sign up and start trading, visit this page. 

ETfinance.eu review

There are many advantages associated with using this broker for your trading.

Even if you’re going to skim through the rest of this review, we urge you to read the “advantages” part because this information will definitely help you determine whether this broker is good for you.

Advantages of using ET Finance broker

Broker is well regulated by by the Cyprus financial regulator, CySEC.

Cyprus joined the EU in 2004 and since then, all brokers under CYSEC regulator were required to implement European MiFID rules.

In other words, ETFinance is legally providing their brokerage services in the EU and all customers coming from this region can sign up knowing that their funds are safe.

In case the broker closes down, traders can be compensated because most of the time brokers who are regulated in the EU are also members of a compensation fund.

MT4 trading platform

ETfinance is offering the popular MT4 trading account just like their counterpart, RoInvesting.

The reason this trading software is highly favored over the others is because the company that created it was a pioneer in providing trading software.

They were able to create a conducive environment for charting, backtesting and compatibility with the best Forex robots.

By the way if you’d like to use an expert advisor or Forex signals from professional traders, this page will provide you with good insights on what products or services to use. 

Generous leverage

Leverage is a double-edged sword. In as much as high leverage can potentially provide you with elevated profits in a short time, it can as well ruin your account in just one trade.

When trading with leverage, it’s recommended that you set it to the minimum and according to your equity.

Unless you really know what you’re getting into, you should never abuse leverage.

So far, the maximum leverage that ETfinance is providing is up to 1:500. This is more than you could ever need assuming you’re applying for the highest leverage you can get.

Good trading conditions

ETfinance has the best spreads we’ve ever seen in quite a while.

Looking at their account types, we see that spreads start at 0.03 pips. Although they don’t have a live spread widget on their website just yet, we feel that a broker who announces spreads as low as 0.03 pips is quite mindful to its clients.

We’ve tried their MT4 demo trading environment and we found that spreads are as promised on the website.

A pair like EURUSD attracted less than 1.3 pips which is within industry’s average.

If a broker goes beyond this, they’re risking being categorized among the most expensive brokers to trade with.

Also, we believe this has to do with their regulatory status. Some brokers just don’t want to create a situation where many complaints will reach their financial regulator.

Support

ETfinance provides support through phone, live chat and email.

Traders who prefer to speak with them on phone can do so between Monday – Friday: 7 to 19 GMT.

However, it’s not clear whether email and chat support is provided during the weekend.

We tried contacting them on a Friday evening and the response was quick.

If you’re trading Forex, you probably don’t need weekend support. However, if you’re trading Crypto (because ETfinance offers Crypto assets), then you’ll probably need this feature.

Conclusion

ETfinance is a broker that inspires confidence. Their trading conditions are irresistible and the fact that they’re regulated gives us the peace of mind needed to comfortably trade with a broker.

If you are looking for a good MT4 broker who is regulated and generous with financial assets and leverage, then probably ETfinance is your best bet.

Thanks for reading our ETfinance review. We’re looking forward to your comments and opinion.

Leave a Reply