ETFinance 2025 Review: Everything You Need to Know
ETFinance has emerged as a notable player in the online trading space since its inception in 2018. The broker, operating under Magnum FX (Cyprus) Ltd and regulated by the Cyprus Securities and Exchange Commission (CySEC), offers a range of trading services primarily focused on CFDs across various asset classes. However, the broker has garnered mixed reviews from users and experts alike, highlighting both its potential and the risks associated with trading through this platform.
Note: It is essential to consider that ETFinance operates under different regulatory frameworks in various regions, which may affect the trading experience and the level of protection available to clients.
Ratings Overview
How We Rated the Broker: Ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data collected from various sources.
Broker Overview
Founded in 2018, ETFinance is a Cyprus-based brokerage that provides access to a wide array of financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. The broker primarily utilizes the popular MetaTrader 4 (MT4) platform, known for its robust analytical tools and user-friendly interface. ETFinance is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 359/18, which adds a layer of credibility to its operations.
Detailed Insights
Regulatory Regions
ETFinance operates primarily within the European Economic Area (EEA) and is regulated by CySEC. However, it does not accept clients from several regions, including the United Kingdom, the United States, and certain other countries, which limits its accessibility to a broader audience.
Deposit/Withdrawal Methods
The broker supports various payment methods for deposits and withdrawals, including credit/debit cards (Visa and MasterCard), bank wire transfers, and e-wallets like Skrill. Importantly, there are no deposit fees, but traders should be aware that withdrawal requests may incur fees if the account remains inactive for extended periods.
Minimum Deposit
To start trading with ETFinance, a minimum deposit of €250 is required. This relatively low threshold makes it accessible for new traders looking to enter the forex market.
Currently, ETFinance does not offer any bonuses or promotional incentives, as per the regulations set forth by CySEC. This is a standard practice among regulated brokers in the EU to ensure fair trading conditions.
Tradable Asset Classes
ETFinance provides access to over 750 tradable assets, including more than 50 forex pairs, 150 stocks, various commodities, and a selection of cryptocurrencies. This diverse offering allows traders to explore different markets and diversify their portfolios.
Costs (Spreads, Fees, Commissions)
The broker operates on a commission-free basis, with spreads starting from 0.03 pips for the Platinum account. However, inactivity fees can be steep, reaching up to €500 for accounts dormant for an extended period, which is a significant drawback noted by users.
Leverage
ETFinance offers leverage up to 1:30 for retail traders, in line with ESMA regulations. Professional traders may access higher leverage ratios, but the risks associated with high leverage should be carefully considered.
Traders can choose between the MT4 platform and a web-based trading solution. The MT4 platform is widely recognized for its advanced trading features, while the web version offers convenience for those who prefer browser-based trading.
Restricted Regions
As mentioned earlier, ETFinance does not accept clients from specific regions, including the UK and the US. This limitation may affect its attractiveness to potential traders in those areas.
Available Customer Service Languages
ETFinance provides customer support in multiple languages, including English, German, Spanish, Italian, and Portuguese. However, user reviews indicate that the quality of customer service can be inconsistent, with some users reporting difficulties in communication.
Repeated Ratings Overview
Detailed Breakdown
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Account Conditions (6/10): ETFinance offers various account types, including Silver, Gold, and Platinum, each with different features and spreads. However, the high inactivity fees detract from the overall attractiveness of its account conditions.
Tools and Resources (7/10): The broker provides access to the MT4 platform and a range of educational resources, including webinars and articles. However, the absence of more advanced platforms like MT5 may limit some traders.
Customer Service and Support (5/10): While customer support is available in multiple languages, user feedback suggests that response times can vary, and some traders have faced challenges in getting timely assistance.
Trading Experience (6/10): The trading experience is generally positive, with a user-friendly platform. However, issues related to withdrawal difficulties and aggressive marketing tactics have been reported by some users.
Trustworthiness (4/10): Despite being regulated by CySEC, ETFinance has received mixed reviews regarding its trustworthiness. Some users have reported significant difficulties with fund withdrawals, leading to concerns about the broker's reliability.
User Experience (5/10): The overall user experience appears to be average, with room for improvement in customer service and account management processes.
In conclusion, while ETFinance offers a range of features and access to various markets, potential traders should approach with caution, particularly regarding the broker's withdrawal practices and inactivity fees. As always, it is advisable to conduct thorough research and consider personal trading needs and risk tolerance before engaging with any broker.
