Being a European-based broker, ETFinance would require an average minimum deposit of 215 Euros. One of the first things you notice when you enter the ETFinance website is that they include a legal section at the top of their page. This is especially nice to see when carrying out ETFinance stock trading, because it shows that they have nothing to hide in terms of the regulations. This covers the General Data Protection Regulations that they must adhere to. This shows customers exactly how their data will be handled when they use ETFinance and is an excellent example of transparency. For customers who need a more long-form option to inform ETFinance of issues, email support is available.
The educational materials ETFinace is offering to its clients are not just knowledgeable, but also in a way entertaining. Charting with the right use of technical analysis can give you better trading results. This makes total sense because charting enables you to keep track of historical prices in the markets and technical analysis helps you determine what next steps you need to take. Through charting, traders can easily understand the movement of the market, whether it’s going upward or downward. Technical analysis, on the other hand, is a method of analyzing the markets and predicting price movements. Its exceptional interface enables traders to monitor different assets and trends.
Besides, the MiFID II legislation ensures the highest level of investor protection not only in terms of safety of funds but client privacy and data security too. Also, all retail clients are subject to negative balance protection, investor compensation if the broker goes into administration and margin stop out levels. Telephone, email, and web-based live chat are all accessible methods via which you can receive customer support.
ETFinance Review Conclusion
Please note, some markets may only be available via CFDs or other derivatives. If you have any platform queries or you want to close or delete your account, the support team can help. ETFinance is also part of the Investor Compensation Fund (ICF), protecting traders up to €20,000 should the broker be unable to pay out returns. Still, the web-based interface makes for an easy-access alternative to the downloadable MT4. It goes against our guidelines to offer incentives for reviews. We use dedicated people and clever technology to safeguard our platform.
Learn to Trade
Importantly, the broker has access to a demo account; octafx broker reviews this is a useful option that will help beginners try their hand at no loss and for experienced traders to test new strategies. This is the same for Gold and Platinum account types too, although the minimum lot size does change with the higher tiers. You can also open an ETFinance demo account for free to try out the broker. The MetaTrader 4 platform provides you with news, as does the ETFinance mobile trading application. This way, you do not even need to leave the trading platform to access the updates, and you can adjust your trading strategy based on what you read.
Articles feature expert insights into specific instruments, although they do not always include technical analysis or even specific figures. In addition to expected indices, like those from the United States, you can also trade rarer international ones. This selection is a very strong point in favor of ETFinance as it provides you with more opportunities for diversification. It also allows you to take advantage of market movements around the world, instead of just in a few major cities.
ETFinance Customer Support
ETFinance does charge swap or overnight fees, which is expected. Instead, financial partner institutions calculate the rates based on key market conditions, risk management decisions, and other factors. Unfortunately, ETFinance does not list swap rates on its website. However, you can easily find them in MetaTrader or your platform of choice. You may also benefit from swap discounts, of up to 50%, depending on your account type.
- Below you can see how scored in each of our high-priority categories.
- Additionally, ETFinance maintains segregated client funds and offers negative balance protection.
- This is through the focus of providing their clients with all the tools and knowledge needed in the world of trading.
- Managed by Magnum FX Ltd., an investment firm based in Cyprus, ETFinance was created in 2016.
- There is a standard ETFinance brokerage account on offer to traders when they sign up to ETFinance.
Forextraders’ Broker of the Month
You can view the signals to gain insights and then complete the trades yourselves or set them up for automatic trading. When it comes to trading platforms, ETFinance offers the most popular trading platform in the industry, the MetaTrader4. Metatrader 4 is available as a desktop and mobile application, as well as a web-based trading platform. This means that the broker also offers a mobile application available on Google Play and App Store. Keep on reading if you would like to know more about the broker’s fees, trading platforms, account types, deposits, withdrawals, pros and cons, and more.
Claim your profile to access Trustpilot’s free business tools and connect with customers. As we previously mentioned, Bitcoin Era’s trading platform is easy to use and requires two basic steps in order to start your automated trading. At this point, you will have to modify the trading settings and activate your auto trading. Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website. When it comes to bonus offerings, unfortunately, we could not find any kind of bonus available to traders.
To open an account with ETFinance, you’ll need to provide proof of identity and proof of address. This process allows ETFinance to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering. Although not regulated by the FCA, we’re comfortable with the broker’s regulatory status and believe they are safe to trade with. If you have experience trading with ETFinance please share your personal review of the broker and what you think are strong and weak points. Compare the markets and instruments offered by ETFinance and its competitors.
This allows traders to simply diversify their portfolios and stick to whatever trading strategy that they feel the most comfortable with. On the whole, ETFinance offers traders a wide range of choice in terms of their trading options. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. YOur ETFinance review found that this broker has highly-rated customer support, which is available via live chat, email, or phone. The physical address of ETFinance is also readily accessible, and the broker has social media pages for further interactions and transparency.
The platform includes many technical indicators and other trading tools with a simple and intuitive interface. ETFinance allows customers to trade CFDs on a variety of trading instruments including Forex, stocks and stocks, products, indices and cryptocurrencies. Instead, the broker charges spreads on each trade, yet these are competitive with other brokers of the same quality. As such, ETFinance is a good choice if you are looking for low-cost trading opportunities. ETFinance is not as clear as we would like in regard to customer support hours. In some areas, such as the professional account page, the broker indicates that all clients receive 24/5 multilingual customer support.
We have summarized the broker’s Order Execution Policy PDF for you. Although ETFinance is still a relatively young broker, our review team found plenty to inspire confidence. Alongside licenses and compensation from CySEC, ETFinance has shown it can weather tough market and economic conditions since its opening in 2018.
With that said, for regulatory reasons, the broker does not accept clients from Belgium. As per ESMA regulations, the broker fully complies with the General Data Protection Regulation (GDPR). Deposits can be made into an ETFinance account using a variety of payment cards, e-wallets and transaction methods.
ETFinance is the trading name of Magnum FX Cyprus Limited, a CIF registered firm operating out of Cyprus since 2016. The broker offers 100s of CFD products across FX, commodities, cryptocurrencies, indices, US, coinspot reviews European and Australian shares, ETFs and futures from the globally-renowned MT4 platforms. The three account types, plus the professional and Islamic accounts, cater to all categories of investors.
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