ETFinance offers CFD trading across a range of markets and assets. This includes forex, metals, commodities, indices, and cryptocurrencies.
The broker also offers a free demo account that allows traders to practice their strategies without risking their capital. This is an excellent feature for beginner traders who want to learn more about the trading platform and assets before committing.
Legality
One of the most important things to consider when deciding which broker to choose is its legitimacy. This can be done by checking whether the company is regulated or not.
ETFinance is a reputable broker operated by Magnum FX (Cyprus) Ltd, a CySEC-registered company. This makes them ideal for investors looking to trade assets, forex, metals, indices, stocks, commodities, and CFDs.
The website is well-designed and easy to read, with all the relevant legal information displayed. This is a positive sign and is a great way to show traders that they are aware of the rules & regulations that govern their operations.
They offer leverage on indices and most commodities, up to 1:50 for professional traders and up to 1:10 for retail accounts. They also provide Gold and Platinum status, which gives customers discounts on spreads. Moreover, they run periodic offers and competitions for professional traders.
Spreads
ETFinance offers commission-free trading, which is a big plus for new traders. They also offer a wide range of trading instruments and excellent customer support service.
ETFinance is a Cyprus-based broker that adheres to high standards of safe trading by established rules and regulations. The broker holds client funds in segregated accounts with reputable Cyprus or European Economic Area credit institutions, ensuring your money is safe and secure.
In addition, they offer a free demo account, so you can practice before making real-money trades. You can also access various educational materials on the broker’s website.
Spreads vary depending on the type of asset traded, the time of day a trade is initiated, and market conditions. They can be narrow or wide, changing at a moment’s notice.
Trading platforms
ETFinance offers CFD trading on various markets, including forex, commodities, stocks, and indices. They also provide trading services for both retail and professional traders.
The broker’s WebTrader platform is an easy-to-use, browser-based platform that provides 24-hour access to global markets from any device with internet access. Its features include a two-week demo account, market data, and charts.
Several payment methods are supported, including debit cards, bank transfers, and a wide range of e-wallets. Deposits are made securely, and withdrawals are generally completed within one day of receiving them, although some banks may apply a fee for wire transfers.
The company is regulated by CySEC and offers accounts for retail and professional traders. The experienced tier offers higher leverage and is particularly attractive for large-volume traders.
Customer support
ETFinance boasts a well-equipped customer support center with an extensive list of tools and services to assist you on your trading journey. Their customer support staff are available by phone five days a week (Monday-Friday) from 7 am to 7 pm GMT and also offer a web-based live chat which can be accessed anytime throughout the day.
The best part about customer support is that it is all free! They also offer an impressive range of trading platforms, including the MT4 mobile app, which is simple to use and features all the essentials. A solid education center with tutorials, articles, and videos rounds out its service. They also boast an impressive collection of ebooks and training courses designed to help traders of all experience levels get the most out of their accounts. However, the website has a few minor drawbacks, such as the lack of transparency in its terms and conditions.
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