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Euro-Finance Review – is it scam or safe?

Euro-Finance Review – Is www.eurofinance.bg scam or safe forex broker?

RATING: 3 / 0 REVIEWS Euro-Finance
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 Trading accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Standard $/€/BGN 100 0.01 lots 1:200 1 pips

 

 

Euro-Finance offers just one type of live trading account, plus a free demo account with virtual €10 000 for test trading without risk.

 

Euro-Finance is a brokerage with a rather extensive portfolio. In addition to the over 50 forex pairs, the company offers trading in CFDs on stocks, as well as in precious metals, oil and gas and indices – a total of around 260 instruments.

 

Euro-Finance also has services for institutional clients.

 

The Company. Security of Funds

 

Company Country Regulation
Euro-Finance AD Bulgaria FSC, FCA

 

 

Euro-Finance is a Bulgarian brokerage company, part of the financial services company EuroHold, which is publicly traded on the Bulgarian Stock Exchange. The broker is regulated by Bulgaria's Financial Supervision Commission (FSC) for providing financial and investment services within the European Union, the European Economic Area and third countries.

 

It is also registered by UK's Financial Conduct Authority (FCA) and has permission for providing financial services as an investment intermediary on the country’s territory. Euro-Finance is registered at the Romanian Financial Supervisory Authority (CNMVR), similarly to another Bulgarian broker – Bulbrokers.

 

Euro-Finance is a member of Bulgaria's Investor Compensation Fund, which covers up to 90% of the due sum in case the company goes bankrupt, but not more than BGN 40 000 (around EUR 20 000).

 

Trading Conditions

 

Minimum initial deposit

Euro-Finance requires a minimum initial deposit of $/€/BGN 100, which is not a very large sum, even though there are brokers like FXTM, XM and IG with much lower requirements. However, there are others, like Circle Markets, with much higher.

 

Spreads and commissions

Euro-Finance offers floating, fairly tight spreads, starting at 0.8 pips for EURUSD. The average spread for the EURUSD pair is 1 pips. This is not a bad spread, especially considering that the broker does not charge additional commissions and fees.

 

Leverage

The maximum leverage that Euro-Finance would give is 1:200. It is not too high, but is comparable to that of most other Bulgarian forex brokers. There are other forex brokers like Grand Capital, which give a leverage of 1:2000, but there are others like FxChoice, which also offer 1:200.

 

 

Trading Platforms

 

Euro-Finance offers just one trading platform – MetaTrader 5 (MT5). It is the latest multi-asset trading platform developed by MetaQuotes Software, which is increasing its efforts into popularizing it.

 

Other brokers that offer MT5 are FxPro, FXTM and FiboGroup. BenchMark, another Bulgarian broker also offers trading on MT5.

 

 

Promotions

 

Euro-Finance offers an “Acceleration Bonus” of up to €500, defined by the client's trading volumes. One can win up to €5 for each traded lot.

 

 

Methods of payment

 

Euro-Finance accepts client deposits through bank transfer and credit/debit cards. Traders can also fund their accounts though the online payment systems PayPal, Skrill and ePay or make a deposit in cash at Euro-Finance's offices.

 

 

Conclusion

 

Euro-Finance is a Europe-regulated broker that can offer its services throughout the EEA. Its trading conditions are fairly good. The company does not have the partnership advantages of its Bulgarian competitors, but has been on the market for the longest – since 1993. 

Besides, Euro-Finance offers fairly good spreads and trading on MT5 and requires a low initial deposit.

 

Pros Cons
MT5  
Low initial deposit  
Tight spreads  

 

 

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Traders` reviews for Euro-Finance

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