ETFinance Review

ETFinanceNew brokers are still popping up when it comes to online trading, which just goes to show that this industry is still going strong. One of the most recent additions to the group is ETFinance, an intriguing company offering a diverse array of trading assets. To find out how much truth there is to their claims, we decided to examine their website as thoroughly as possible and trade for a bit here ourselves. What we found out is actually quite interesting, and this article will lay out all our impressions in front of you. Yes, this ETFinance review is going to be quite a thorough one – read on and find out absolutely everything there is to know about this broker.

ETFinance Trading Platform

We will start things off with ETFinance trading platform. Well, trading platforms, to be more precise, because you have three main options to choose from in this respect. There are no big surprises here, which is a good thing because that means the broker decided to go with proven and reliable software.

The main ETFinance trading platform is MetaTrader 4, something that we’re really all familiar with at this point. For years this has been the most popular software in the trading community because of its simplicity of use and the numerous options it provides. If you don’t want to download it, however, you can simply use the broker’s Webtrader to conduct your trades via your internet browser. In addition, if you won’t be in front of your computer much, ETFinance app will help you manage your trades from any Android or iOS mobile device.

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As for the selection of assets, it is indeed quite impressive. You will be trading stocks, commodities, cryptocurrencies, forex, indices and metals through CFDs, and the broker even has some ETFs for you, as you can guess from its name. Stocks are the most numerous assets, but for every other category there are many options, too. In total, there are well over 200 choices, so finding something that interests you shouldn’t be a problem.

ETFinance account types

When it comes to ETFinance account types, things are pretty straightforward. Basically, you have one live account and that’s it. No tiers, no packages or anything of the sort: as soon as you make your first deposit, all options will become available which is certainly something traders will appreciate. Apart from that one live account, however, you will also get instant access to the demo account, where you can experiment, practice and create new strategies without any fear of financial damage. All you need to do is click on the demo account in your client area.

Creating your ETFinance account is very easy, too. Apart from your basic personal info, though, you will have to fill out a couple of forms concerning your income and previous trading experience. Depending on your financial situation and experience you could be eligible to attain the status of a professional trader, which will increase the maximum leverage you are allowed to use from 1:30 (the so-called retail leverage) to 1:200. Not bad, huh? To be treated as a professional client, request from your account manager, (one will be awarded to you as soon as you create your account) further information regarding the specific requirements that should be met. Once the assessment of your application with ETFinance is completed you will be eligible to trade in more favorable conditions.

Finances also play a significant role when examining a broker’s offer, so we have to dedicate a chunk of this ETFinance review to them, too. We’ll start with the deposit first. The number of deposit methods here is quite satisfactory because all the main bank/credit cards are included (Visa, Maestro, MasterCard), plus you can use online payment services like Trustly.

As far as ETFinance minimum deposit is concerned, it stands at € 215. The number may be a bit unusual, but it is perfectly reasonable and well within what is considered to be standard in this business. If you’re looking to deposit larger sums, the upper limit will be determined by the deposit method you choose to use, so choose carefully. This choice will also impact your withdrawal, but we will discuss that in the next part of the article, so stay with us.

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How to make an ETFinance withdrawal?

Experienced traders will be familiar with this, but for all those making their first trading steps allow us to explain how withdrawals work. ETFinance withdrawal is nothing out of the ordinary when compared to the rest of the industry. For example, if you use a credit card to make your deposit, the funds when making a withdrawal will be returned to that card in the same amount you deposited. So, if you deposited 500 $ and want to withdraw 800 $ (300$ profit), you get your 500 $ back to the credit card, if that’s possible, and the rest will be sent to you via bank transfer. To avoid any miscommunication, the name in the trading account and the name in the banking account you’re withdrawing to have to match.

When it comes to ETFinance withdrawal fees, they are applied in only one case – if you’re withdrawing with only one or no trades completed. In that case you will be charged 50 $. Keep in mind that the broker is not responsible for the fees charged by your payment service provider, so check what their rates are before you decide on the method.

Can ETFinance be considered legit?

When you’re tradin with your money online, security is the number one priority. You simply don’t want to hear about any ETFinance scams if you’re researching this broker – if you do, you will likely not trade with them. But when it comes to checking a broker’s security, you need to know what to look for and how the company operates so that you do not accuse them wrongly. Many times people scream “scam!” even when the mistake is their and their alone.

In this part of ETFinance review we need to highlight two facts. First, the broker is fully regulated by CySEC – the license number is 359/18, feel free to look them up here – so you have an institution’s word that this company is doing business as expected. Furthermore, you will see as soon as you open their website that this broker also complies with MiFID II, so two of the most important conditions for providing trading services in the European Union are met. In fact, do be aware that this broker deals ONLY with EU clients.

That’s not all, though. When it comes to technology, SSL encryption is used to protect every single transaction on the website, and Verified by Visa and MasterCard SecureCode systems add an additional layer of security if you decide to use cards for your money transfers here. Like we said at the beginning of the article, we traded here ourselves and there were no indications of an ETFinance scam. Therefore, this broker can be considered legit, as the following topic will also demonstrate.

Support

Scam brokers often have support only on paper, so when you try to contact them you never get a reply. Fortunately, this is not the case here. ETFinance support team is well trained and quick to respond, although what did annoy us a little was the fact that you can’t really talk to them before you create an account. Still, given that you don’t have to deposit anything during your account creation process, that’s not really a big deal.

So, every time we wanted to ask something, these people were there for us. It is also interesting to note that you can follow the company on an array of different social networks, from Facebook and Twitter to YouTube and LinkedIn.

Finally, if you want to learn about trading, there’s plenty of educational materials on this website too. We especially liked the selection of videos they have, but there are also e-Books, tutorials, courses and other things you can use to expand your trading knowledge. The economic and earnings calendar are also quite handy to have, and in short you will have absolutely everything you need for successful trading run at your disposal here, quite literally just a click away.

Conclusion

And that’s about it for this ETFinance review. Before we go, allow us to reiterate a few key points about this company’s offer. First and foremost, ETFinance has an impressive number of assets to offer, all of which are traded on the famous and reliable MetaTrader 4 platform. The account creation process is nice and simple, and you don’t have to worry about not being able to access some features after you deposit – everything will be available to you from day one. In addition, it is also important to emphasize that the broker is fully regulated, but keep in mind that they only accept EU traders. 

If you are a European resident, you will have a number of great features at your disposal, all backed by an excellent support team (a demo account is also available as soon as you register). So to conclude, if you want a wide variety of trading choices, open an account on this broker’s website and you will immediately get a trustworthy relationship with ETFinance.

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Author's overall rating:
Author: Martin Simons
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