Detailed information

ETFinance was founded in 2016 by Magnum FX Ltd., a Cyprus-based investment corporation. Customers across Europe can use the broker’s cryptocurrency and FX trading services, but not in Belgium. The Cyprus Securities and Exchange Commission regulates the company, and it is the official sponsor of the Real Madrid basketball team. Customers have access to 50 currency pairings, 20 indexes, 17 products (including metals and energy), and hundreds of US, European, and Australian equities. There are another 33 different cryptocurrency pairings.

Trading platforms

MT4 is well-known, with a wide range of capabilities and an easy-to-use interface. Over 50 technical indicators, 30 interactive charting tools, 9 time periods, and support for over 30 languages are available to users. There’s also one-click trading and comprehensive trade history.

Mobile versions of MT4 are available for free download on all iOS and Android devices, including smartphones and tablets. Most of the functionality of the desktop version is intact, including touch trading and interactive charts, despite the fact that there are fewer chart styles and technical indicators.

WebTrader includes virtually all of the functionality of MT4, but the chart layout is tiled rather than cascading, and the trade tab, which contains custom indicators and techniques, is not accessible.

Spreads and commissions

The EUR/USD spread is 0.7 pips, the GBP/USD spread is 1.3 pips, and the EUR/GBP spread is 0.9 pips. Spreads are changeable, which means they change with market circumstances.

The business charges a fee for keeping positions open overnight. These charges might be as high as 5%. Accounts that have been inactive for more than two months are fined a €160 monthly inactivity fee, which may increase to €500 after nine months.

ETFinance Отзывы

Account types

Silver

  • Spreads start at 0.07 pips.
  • Maximum leverage at 1:30
  • Educational resources are scarce.

Gold

  • Spreads start at 0.05 pips.
  • Personal Account Manager
  • Exchange discount of 25%
  • All educational resources
  • Maximum leverage is 1:500.

Platinum

  • Spreads start at 0.03 pips.
  • Personal Account Manager
  • Exchange discount of 50%
  • All educational resources
  • Maximum leverage is 1:500.
  • News Alerts
  • Free VPS

After completing the registration process, the firm offers a free demo account. The study account is available for seven days and allows you to explore assets and the platform without putting your money at risk.

Leverage

The amount of leverage you have depends on the account you’re using. Retail leverage is limited to 1:30 on major and minor currency pairs, 1:20 on exotic pairings, gold, and indices, 1:10 on commodities, 1:5 on stocks, and 1:2 on cryptocurrencies for Silver account holders.

If designated as professional traders, Gold and Platinum account holders have access to greater leverage rates of up to 1:500 on currency pairs, 1:125 on indices and commodities, and 1:10 on corporate stocks.

Methods of Payment

Payment cards, e-wallets, and other transaction methods can all be used to make deposits. There are no deposit fees; however, the broker maintains the right to charge withdrawals from low-activity accounts up to $50. Payment is executed on the same day if the request is received before 09:00 GMT+3, else the withdrawal will be completed on the next working day.

Additional features

ETFinance has a comprehensive education area that includes lessons, articles, and videos. Customer comments also mention a variety of eBooks and training courses for Gold and Platinum account customers.

An economic news calendar and an earnings calendar, which help visualize the latest performance of significant firms, are also provided by the broker to aid market research and strategy planning.