ETFinance: Broker Review and Trader Opinions 2024

ETFinance is one of the leading EU online brokers in the industry, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC). Apart from trading CFDs on Forex pairs, ETFinance offers CFDs on Metals, Indices, Stock, Cryptocurrencies, and various Commodities.

Verified account grants access to MetaTrader4 platform and an extensive educational hub available for registered users for free. ETFinance seems to be very proud of it, rightly. The Edu hub stores piles of materials covering the most vivid trading specifics, including the trader’s style and strategy. It teaches any interested person the secrets of reading charts and planning wise moves.

The major features of the company are:

• Regulated broker.
• Access to the best trading platforms: MT4, WebTrader.
• CFDs on more than 350 assets.
• Cross-platform trading.
• Reasonable trading fees.
• No hidden charges.
• 24/7 access to the global market.
• Dedicated support available 24/5.

As practically any online broker out there, ETFinance has its pros and cons. We will present some of the major ones, so you’ll be able to make your unbiased decision.

We’ll start with some of the advantages:

EU license. Being a regulated broker, with the official license, ETF also becomes a trustworthy broker to work with. You can find any detail you need about the registration, license, and physical registration. Thus, you can track the company down in case of any issues.

Free DEMO account. Trading is a risky procedure, so in case you're unfamiliar with it, you may lose a considerable amount until you make sense of how it functions. What's great is that a DEMO account lets you practice for free and learn stuff at your own pace, without risking real money.

UX-upgraded website. ETFinance platform is very instinctive and simple to utilize. Even a first time visitor is likely to understand how it works in no time.

Access to the trading platforms, MT4 and WebTrader. ETFinance offers brokers the business standard MetaTrader4 stage. This is the point of fact the most prominent exchanging stage available, favored by expert and learner merchants the same.

Accessible in 6 languages. Apart from English, ETFinance is upheld in Spanish, German, Dutch, Portuguese, and Italian.

Trader training. The website offers over 200 examining materials, like Videos on demand, eBooks, articles, and courses. Both newcomers and experienced traders would discover helpful data to develop their skills.

Minimum deposit. Being a European-based broker, ETFinance would require an average minimum deposit of 215 Euros.

To discuss a few flaws, ETFinance has:

Relatively low leverage. ETFinance offers its customers the leverage of 1:30, due to the newest ESMA guidelines that came into power in August 2018. This might be considered very conservative in comparison to other online brokers out there. On the other hand, for proficient traders, who can demonstrate their experience, the site may offer leverage of 1:500.

ETFinance specialization is CFDs. This is the instrument offered to the customers for trading. What does CFD mean? This abbreviation stands for Contract for difference. These are derivatives, that allow a customer to speculate on market prices of the assets without the need to actually own any of them. CFDs cover a vast variety of currency pairs, stocks, commodities, and market indices.

And if one feels uncertain about opening a real account and depositing money, one can check it all out with the DEMO account. It's free and helps learn the trading process.

ETFinance offers its customers a rundown of 50 Forex pairs, a large number of which are exotic or minor, such as USDZAR, USDINR, USDSGD, and others. Furthermore, on the trading platform one can likewise go over CFDs on a bunch of soft commodities like cotton, copper, soybeans, cocoa, espresso, sugar, corn and wheat, major cryptocurrencies including Run, Bitcoin, Bitcoin Money, Litecoin, Ethereum, Ethereum Great, Wave, Zcahs, Bitcoin Gold, and so forth. Accessible are 16 indices, along with gold, silver, platinum, palladium, Brent oil, natural gas, light crude, etc. Quite a considerable choice, so even the pickiest trader would find something exciting to work with.

ETFinance has chosen two best trading platforms available nowadays, namely MetaTrader 4 (MT4) and WebTrader. One of the most user-friendly and accessible of the platforms, it also has a huge pack of trading tools included for users’ convenience. It is available in both desktop and mobile devices versions. Still, there might be a need for a platform download to the device, but it depends on the version. The download and installation are free, which is definitely a pleasant bonus.

ETFinance customers are not deprived of mobile trading. Moreover, they are encouraged to trade on the go, as it answers to the challenge of the time we live in. Nobody has time to sit beside the computer all day long. The mobile version is as good as the desktop one and grants access to the whole package of tools and functions. The account can be synchronized, so there’s no need to choose between mobile device and desktop version. ETFinance app is available to download from App Store or Google PlayStore.

Big “yes” to that, says ETFinance. Before any client starts the real trading journey, s/he would be encouraged to open a DEMO account – for practice. Trading is all about taking high risks and being quick with reaction. So, before the client puts his own money in it, there’s a great chance to practice and see how it works. DEMO account, by the way, is fully operational and looks exactly like the real one, despite one single difference. The money you win or lose – is not real. The cannot be withdrawn or loaned. But that might be a great point about it.

Getting an ETFinance CFD trading account is simple, fast, and secure. Customers can look over a retail or professional account, with the retail account clearly being most appropriate to most private financial specialists. Retail accounts are anything but difficult to open. Getting started would be straightforward and quite intuitive. The principal differences among retail and professional accounts are the leverage on offer and the margin closeout rates. Professional account users can get high leverage, with up to 1:500 on currency pairs, 1:125 on most commodities and indices, and 1:50 on stocks and shares. Retail clients can hope to access leverage of 1:20 to 1:30 on forex, 1:10 on commodities and indices, and 1:5 on stocks and shares.

Opening the account won’t be hard, even if you are new to trading. Still, there are some peculiarities one has to know about. First of all, you would need to complete a questionnaire. This is a basic thing any regulated broker would ask a client to do. Also, the details required are pretty standard: name, address, date of birth, trading experience, and so on.

Also, any account has to be verified. For that, a client is asked to upload any of the documents that would verify a person’s identity: a copy of passport, driving license, national ID, etc.

Once the verification process is finished, the account is done and ready for trading.

You can request a withdrawal online, by going to the official Customer Area inside your account. To make a withdrawal, you’ll need to give full information regarding the payment method that you used to make a deposit, as well as any additional documentation. For instance, you may need to provide a bank statement, containing your bank's IBAN or bank reference. Following international requirements, traders can only transfer funds to a financial balance held under the same name as the trading account.

Withdrawals from dynamic records are free, but if there is no significant trading activity on the record preceding withdrawal the broker may charge a 50 EUR withdrawal fee.

ETFinance has developed a great educational section on their website. It contains a whole range of courses - tutorials, videos on demand (VOD) and eBooks. All of these aim to explain any newcomer the pitfalls and risks of trading processes. Still, the experienced users would also find something exciting, whenever they choose to broaden their knowledge, as the educational hub has collected materials covering each level of trading experience. So, if a client wonders how to create a trading strategy or find his own style in trading – the answers would be two clicks away and completely free to use.

From everything stated above, we can conclude that ETFinance is a trustworthy broker, authorized, and approved by CySEC. Apart from having loads of obvious benefits, ETFinance can impress it’s clients with funds security and safe financial operations, as these are the absolute must for any regulated broker. That’s why it might get into your list of chosen brokers.