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ETFinance Review - is it scam or safe?

ETFinance review - Is scam or good forex broker?



ETFinance is an EU broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC) – one of the best know financial watchdogs in the industry. The broker offers lots of forex pairs and CFDs on the MetaTrader4 platform, so if you are curious about their offer you may check the following review for details.


Trading account Min. deposit Max. leverage Spread

Standard Account

n/a 1:30 0,3 pips


ETFinance Advantages:


EU wide license


A license issued by any of the national regulators of the 28 EU member states gives a broker the right to target EU citizens irrespectively of where they reside – the UK, Cyprus or any other EU country. 


As we noted ETFinance is licensed by the Cyprus Securities and Exchange Commission (CySEC) and that means the broker is completely reliable. CySEC is a member of the Committee of the European Securities and Markets Authority (ESMA).


All EU regulated brokers are subject to strict regulatory requirements among which to maintain at all times at least 730 000 EUR in operational capital, to keep their clients money in a segregated, trust account, to provide them with a negative balance protection, to file regular reports, to allow external audits and to participate in client compensation funds, basically insuring all trading accounts.


For example as a CySEC broker ETFinance is a member of the Investor Compensation Fund for Customers of Cyprus Investment Firms, which will guarantee your trading funds for up to 20 000 EUR, even in the unlikely event your broker files for bankruptcy. Here you may also check our list of CySEC regulated brokers:


>>Forex brokers in Cyprus<<


ETFinanc is owned and operated by Magnum FX (Cyprus) Ltd. Her you can take a look at their license:



50 currency pairs and a number of CFDs


ETFinance offers its clients a list of 50 forex pairs many of which exotic or minor like USDZAR, USDINR, USDSGD, USDTRY, USDSEK, USDRUB, USDPLN, USDNOK, USDMXN, USDHUF, USDDKK and USDHKD. And on their trading platform we also came across CFDs on lots of soft commodities like corn, copper, cotton, coffee, orange juice, soybeans, wheat, cocoa and sugar, major crypto coins including Dash, Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Zcahs, Bitcoin Gold, Monero, Verge, Siacoin, Cardano, IOTA, NEO, USD Tether, Stellar, NEM, Qtum, and Lisk, stocks, 16 indices, silver, gold, platinum, palladium, Brent oil, light crude and natural gas. Still as trading crypto assets is getting more and more popular, here you may also check our list of brokers offering bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Good spreads


As tested with a demo account the benchmark EURUSD spread floated about 0,2 pips – 0,3 pips, which is great, especially as no trading commission was taken. In the list of trading instruments, however, we came across a second set of forex pairs, where spreads were fixed at a much higher rate – the EURUSD spread for example was fixed at 3 pips, which is more than a pip higher than what traders would usually consider attractive with a standard account. 


As ETFinance does not mention in their presentation to be offering different account types, we are not exactly sure why there are two different sets of spreads on their platform. In any case here you may also check our list of brokers offering tighter spreads:


>> Lowest spread forex brokers<<


MetaTrader4 available


ETFinance offers traders the industry standard MetaTrader4 platform. This is without a doubt the most popular trading platform on the market, preferred by professional and beginner traders alike.



It features over 50 modifiable market indicators, as well as trading robots known as Expert Advisors, that can readily be used to run automated trading sessions. Also the platform sports an excellent set of advanced charting tools, so here you may also check our list of brokers supporting MT4 as well:


>>MT4 Brokers<<


Neteller and Skrill available as payment methods


ETFinance accepts payments with credit and debit cards like VISA and MasterCard, bank wire and popular e-wallets like Neteller and Skrill.


Website is supported in 6 languages


Apart from English the ETFinance homepage is supported in Spanish, German, Dutch, Portuguese and Italian.


ETFinance Disadvantages:


Conservative leverage


The leverage ETFinance offers to retail clients is 1:30, which is in line with the new ESMA regulations that came into force in August 2018. Still, if you are a professional trader and you are able to prove this, you can be offered leverage as high as 1:500.


No information about the minimum deposit requirement


This is another piece of information we miss. Just keep in mind that most brokers require a minimum deposit of about 250 USD, while some big, well established companies like FBS and IG will let you trade with just a few dollars or so.




ETFinance is a reliable broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC). As the regulatory status of the broker is the single most important factor for the security of your funds, the sound regulation immediately makes ETFinance one of our recommended brokers. As for the trading conditions, spreads were also not bad and if you are a professional broker you can surely enjoy a good leverage as well.

Latest news about ETFinance
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Traders` reviews for ETFinance
















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Bad experience with etfinance

Etfinance is realy helping you to setup your account and adding your first deposit. I was not expecting that they will call you and mail you for all kind of events etc and pushing me to add 10keuro to the account to be a Professional trader. I mentioned to them that I need some time also for myself to learn trading. I mention that I will contact them when needed and ready and that I will not add additional funds to the account. It was disappointed that they didnot listen and they continue calling me multiple times per day. This is the reason that I stop with etfinance. Disappointed trader

A. Wanner 08/19/2019

So Far All OK

Trading with them for the past month no problems so far i even WD some of founds (after finishing the documents procedure) with no problem at all. i recommend it!

Johan Moore 08/08/2019
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