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ETFinance Review

ET Finance Review 

Overall, ET Finance offers assets like Crypto-currencies such as Bitcoin, Litecoin, and Ethereum.  CFDs, Metals, Stocks, Energies, Commodities, and Forex. ET Finance offers the following trading platforms for their clients: MT4, WebTrader, and Mobile Trader.

 

ETFinance at a Glance

 

📅 Year Founded2016
📍 Head Office
Cypress
⚖️ Financial Regulatory Bodies
CySEC
📈 Managed accounts
No
📊 Institutional accounts
Yes
☪️ Islamic AccountYes
💰 Minimum Deposit
$250 (R4013,83 USD/ZAR at the time of writing)
👍 Demo Trading Account available
Yes
🌐 Countries not accepted for tradeUnited Kingdom, Belgium
💰 Withdrawal options
Debit and credit cards, bank wire transfers and Skrill.
📒 Deposit optionsDebit and credit cards, bank wire transfers and Skrill.
💻Platform(s) providedMetaTrader4
🖥️ OS compatibility
PC and Mac OS, mobile for Android and IOS
📈 Tradable assets
Forex, indices, commodities, metals, energies, and shares
📓 Languages supported on the websiteMultiple languages
📓  Customer support languagesMultiple languages
☎️ Customer service hours24/5
Maximum Leverage1:30
👉 Open a account👉 Click Here

 

Overall Rating

4.3/5

Rated #375 of 
Recommended FX Brokers

💰Minimum Deposit

USD 215

🌐 Regulators

Cyprus

📱 Trading Desk

No Dealing Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ETFinance Review – 18 key points quick overview:

 

 

ET Finance is a forex broker company in Cyprus. With regards to what exactly is a Forex broker, it is a firm that gives traders admittance to platforms that let them buy and sell foreign currencies.

 

Finding a reputable ET Finance review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

 

Below is an in-depth review regarding ET Finance to help you make an informed decision before opening your account or trading on their platform.

 

The different names for Forex brokers are retail forex brokers or currency trading brokers. There are slight differences as Retail currency traders use these brokers to gain access to the 24-hour currency market for theoretical purposes.

 

Forex brokers can also provide services to not just individual traders, but also provide for institutional clients and large businesses, for example, investment banks.

ET Finance is a forex broker company that is based in Cyprus and was founded in 2018.

 

ET Finance Forex broker is a recent addition to the modern ranks of brokers working in the EU, and they are taking the industry by storm.

 

ETFinance Awards and Recognition

 

ETFinance Awards and Recognition

 

When it comes to deciding what broker to choose, a trader has to look at the broker’s stability and reputation over the years.  Awards gained by a brokerage by esteemed organizations do provide much more confidence in the world of forex.

 

📍  Although ET Finance is rated highly by and has won the following awards:

➡️ Best Forex CFD Provider 2020 – World Finance

➡️ Best CFD Broker Europe 2020 – Global Banking and Finance Awards

➡️ Best Customer Service 2020 – ADVN

➡️ Best New CFD Broker Europe 2019 – Global Banking and Finance Review

 

ETFinance Accounts

 

ETFinance Account Types

 

A forex account that is held by the trader is normally given by the broker with the sole purpose of trading different currencies and market instruments. Usually, the number and type of accounts that a trader can open with a broker company differ according to the broker or country in which they operate.

 

Normally the country of residence of the broker would provide the regulatory authorities under which they would fall.

 

Overall Rating

4.3/5

Rated #375 of 
Recommended FX Brokers

💰Minimum Deposit

USD 215

🌐 Regulators

Cyprus

📱 Trading Desk

No Dealing Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ETFinance Types of Accounts and their Features

 

ET Finance offers three different types of accounts to suit their client’s individual needs:

 

ETFinance Account Features

 

A Silver Account

The Silver Account has everything you need at the beginner’s stage to get started.

750 Assets, 0.07 Minimum Spreads, 1:30 Maximum Leverage, and full 10-hour support from 10 am – 8 pm GMT.

 

ETFinance Account Features

 

A Gold Account

The Gold Account offers clients who are more skilled in the markets. They can take you to the next level with this account.0.05 Minimum Spreads, 1:400/1:500 maximum leverage, and a dedicated account manager. You also get webinars and videos, hedging, and a swap discount of 25 percent.

 

 

A Platinum Account

The Platinum Account will get you additional tools and is the complete fit for a seasoned trader. 0.03 minimum spreads, 1:30 maximum leverage, 1:400 / 1:500 maximum leverage, Dedicated account manager, Webinars and videos, Swap discount of 50 percent, news alerts, and Free VPS.

 

Overall Rating

4.3/5

Rated #375 of 
Recommended FX Brokers

💰Minimum Deposit

USD 215

🌐 Regulators

Cyprus

📱 Trading Desk

No Dealing Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ETFinance Deposits and Withdrawals

 

ETFinance Deposit and Withdrawal

 

The minimum deposit requirement is $250, and deposits and withdrawals can be done via Credit/Debit Card, Wire Transfer, and some alternative e-wallets.

 

ETFinance Cost and Fees, Commissions, and Spreads

 

ETFinance Fees and Spreads

 

Each broker charges its own costs which entail commissions, spreads, and margins. Traders should be aware of exactly what their broker’s fees will involve before making the decision to trade with them.

 

The following describes what exactly a spread, margin, and commissions are:  The spread of a currency pair is the variance between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.

 

One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

 

A margin means that it is the amount of money essential in your account in order to open a place. Margin is planned based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

 

The commissions are the costs levied by the broker on a client for making trades on the client’s behalf. The level of commissions will differ between various brokers and it will also depend on the different kinds of services, accounts, and trades done by the brokers.

 

There are, however, execution-only brokers, they do not get involved with any direct personal investment guidance. These brokers charge much fewer commissions but the traders have to take complete control over how they trade the markets.

 

Although contract for differences (CFDs) trading is a method of offshoot trading that allows traders to gamble on the rising or falling prices of fast-moving global financial markets. This type of trading of shares does incur a commission.

 

CFD trades on different markets have no commission but do wrap a spread around the market price of a certain instrument.

 

There are no fees for depositing at ET Finance. Most withdrawal methods do not incur fees either, but there is a fee of €15 for withdrawals made via wire transfer. There is also a 50 euro fee if you withdraw before you have completed more than one trade.

 

Spreads are variable and based on their liquidity provider. There are no commissions.

 

ETFinance Leverage

 

ETFinance Leverage

 

Leverage is the ability that will enable a trader to gain greater exposure to the market than the sum a trader deposited to begin a trade. Leveraged products increase a trader’s prospective revenue – yet also create a risk for loss.

 

The amount of leverage is conveyed as a ratio, for instance, 50:1, 100:1, or 500:1.

 

For example, if a trader has $1,000 in his trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will compare to 500:1.

The maximum leverage will be 500:1.

 

ETFinance Bonuses

 

To attract new business from traders, Forex brokers normally lure them with eye-catching deposit bonuses.  For new investors, this can be very handy, but one has to know what to determine is a decent bonus.

 

A bonus is a way to reward traders for deciding to choose a certain broker since once the account is opened, the trader will have the same expenses as any other. The bonus is just a reward for the trader’s choice that gives some of these expenses back to the trader, once proving himself as an active trader.

 

Furthermore, since 1 August 2018 The European Securities and Markets Authority (ESMA) has placed investor protection measures on the marketing, distribution, or sale of CFDs to retail clients, which stops brokers from directly or indirectly providing the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, other than the realized profits on any CFD provided.

 

ET Finance does not offer any bonuses or promotions on its website.

 

ETFinance Trading Platforms, Software, and its Features

 

ETFinance Trading Platforms, Software, and its Features

 

Brokers provide different trading software for their clients. This is normally called a trading platform and it is used for making trades.

 

A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

 

The choice of which platform to choose mostly depends on what a client would like to trade, therefore it will be one of the standards when choosing a broker too.

 

ET Finance offers the following trading platforms for their clients: MT4, WebTrader, and Mobile Trader.

 

MetaTrader4 desktop and mobile – This is one of the most popular and widely used platforms in the trading industry.

 

📍  MetaTrader4 is known for having a user-friendly interface, excellent educational material, and intuitive research tools that appeal to both beginners and advanced traders. MetaTrader4 is compatible with several operating systems such as Linux, Mac, Windows, IOS, and Android. The platform does not overload your computer, is available in over 30 different languages, and offers the following execution modes:

➡️ Instant execution

➡️ Execution on request

➡️ Execution by market

 

The platform also offers automated trading by programming with MetaQuote’s proprietary MQL4 language and constructing custom indicators.

 

ETFinance Markets, Products, and Instruments

 

ETFinance Markets, Products, and Instruments

 

The majority of brokers will provide various kinds of market instruments for trading. A new trend that is picking up momentum is trading in cryptocurrencies.

 

The following are various types of cryptocurrencies: The most well-known of these is Bitcoin (BTC) which is the digital currency with the major market capitalization and price levels since it began in 2008. It controls 50 percent of the total crypto market cap.

 

Ethereum (ETH) is the second major cryptocurrency after Bitcoin and provides developers to create smart contracts on a platform.

 

Another cryptocurrency is Litecoin (LTC) which is similar to Bitcoin but varies in terms of scalability.  Litecoin is also a very popular altcoin and LTCUSD is a fork of Bitcoin (BTCUSD), copied from Bitcoin’s code and with some changes and launched as a new project.

 

Ripple (RPL) is also popular amongst large banks with the Ripple network a next group real-time gross settlement system. It gives a trader instant cross-border fund transactions at very low costs.

 

Lastly, Bitcoin Cash (BCH) was produced by the Bitcoin hard fork in 2017 as a new form of the blockchain with altered rules.

 

Your other market instruments consist of Commodity markets which offer different asset opportunities for traders. Investing in contract-based tradable goods is a dependable way to alleviate risk during times of inflation or economic uncertainty.

 

Precious metals are another dependable investment for traders. This consists of trading in gold and other precious metals which are hard commodities.

 

A lot riskier is your energy products because this is affected by political and environmental situations. The great supply and demand however make it a popular trading choice.

 

Your normal currency trading known as Forex trading, also named currency or FX trading, involves the monetary exchange market where individuals, companies, and financial institutions exchange currencies for one another at fluctuating rates.

 

Lastly, you get your Equity or stock indices which are actual stock market indexes. They measure the value of a specific unit of a stock market. They can signify a specific set of the largest companies of a nation or they can represent a specific stock market.

 

ET Finance offers assets like Crypto-currencies such as Bitcoin, Litecoin, and Ethereum.  CFDs, Metals, Stocks, Energies, Commodities, and Forex.

 

Overall Rating

4.3/5

Rated #375 of 
Recommended FX Brokers

💰Minimum Deposit

USD 215

🌐 Regulators

Cyprus

📱 Trading Desk

No Dealing Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ETFinance Safety and Regulation

 

ETFinance  Safety and Security

 

Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker is safe and secure to trade with. One of the most reliable benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watching and overseeing its actions and whether the company complies with those regulations.

 

In general, a so-called “offshore” broker tends to have a less favorable reputation and potential traders should think carefully before investing with them.

 

Secondly, the safety of the client’s funds should be guaranteed and in the case of the company defaulting or going bankrupt, a safety net of some sort would come in handy to prevent customers from taking more losses.

 

When a broker is regulated by a governing regulatory organization, the risk is lowered for traders.  This will determine if ET Finance is safe to trade with.  ET Finance is a reliable broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC).

 

ETFinance Customer Support

 

ETFinance Customer Support

 

Prospective traders have to be assured that whoever they choose to invest with will give them the required support and assistance whenever and wherever they might need it.

 

ET Finance offers Live Chat support for basic trading hours.  Besides, the broker’s customer support is in English and Spanish. In case of any questions or emergencies, here are the ways you can contact them.

 

Email: [email protected]

Phone: +8006 003 7004 or +357 25359939

Live Chat: Monday – Friday, 7 am – 7 pm GMT.

Address:  Magnum FX Ltd, 1 Agias Fylaxeos Street, 3025 Limassol, Cyprus.

Their customer services support team is helpful and responsive.  As a beginner you have any advanced trading questions for account managers, you can easily request a call back to discuss them.

 

ETFinance Research

 

ETFinance Research

 

Would-be traders must do what is possible in the inquiry around theoretical trading before beginning to do it. Trading with confidence and success counts heavily on knowledge and understanding of the markets, consequently research options accessible by brokers form an essential part of its features when choosing the right company to trade with.

 

The MetaTrader 4 platform has intuitive research tools that appeal to both beginners and advanced traders incorporated into it.

 

ETFinance Education and Training

 

ETFinance Education and Training

 

New clients of ET Finance should try and gain as much information as possible about what type of trading expertise will be needed to be effective in the world of forex and commodity trading.

 

ET Finance’s website should provide all the information one needs to gain skills and knowledge to be able to trade successfully with them.  ET Finance has over 25 articles for newcomers in the world of trade.  They also have educational webinars twice per week.

 

Education is an essential step in any trader’s experience. This broker also offers a remarkable and multiple-level library of educational videos.   They also offer an Economic Calendar, eBooks, Courses, Tutorials, Earnings calendars, and Articles.

 

Conclusion

 

Overall, ET Finance offers assets like Crypto-currencies such as Bitcoin, Litecoin, and Ethereum.  CFDs, Metals, Stocks, Energies, Commodities, and Forex. ET Finance offers the following trading platforms for their clients: MT4, WebTrader, and Mobile Trader.

 

Disclaimer

 

ET Finance cautions possible traders that Forex and CFDs trading constantly carries a high level of risk, thus may not be appropriate for all investors.

Before customers decide to trade the products offered by ET Finance, they are recommended to anticipate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use ET Finance’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While ET Finance assures traders to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor.

 

Overall Rating

4.3/5

Rated #375 of 
Recommended FX Brokers

💰Minimum Deposit

USD 215

🌐 Regulators

Cyprus

📱 Trading Desk

No Dealing Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Frequently Asked Questions

 

Trading Environment

 

How many instruments can I trade with ET Finance?

You can trade several different instruments with ET Finance, which include the following:

  • Cryptocurrencies such as Bitcoin, Litecoin, and Ethereum.
  • CFDs,
  • Metals,
  • Stocks,
  • Energies,
  • Commodities,

 

Which platforms are supported by ET Finance?

ET Finance provides the following popular trading platforms:

  • MT4,
  • WebTrader,
  • Mobile Trader

 

Does ET Finance offer leverage?

Yes, ET Finance offers maximum leverage of 500:1.

 

What spreads can I expect with ET Finance?

ET Finance spreads are variable and dependent on their liquidity provider.

 

Does ET Finance charge a commission?

No

 

Is ET Finance regulated?

Yes, they are a reliable broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC).

 

Is ET Finance a recommended forex trading broker for experts and beginners?

ET Finance is mostly aimed at beginners as they offer a vast number of educational tools.

 

What is the overall rating out of 10 for ET Finance?

8/10

 

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

 

Does ET Finance offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with ET Finance?

The demo account can be used at real-time prices and trading conditions for a period that is unspecified.

 

Which live trading accounts does ET Finance offer?

  • The Silver Account
  • The Gold Account
  • The Platinum Account

 

What are the available deposit currencies for a live trading account?

USD and multiple other currencies

 

 

Deposits and Withdrawals

 

What is the minimum deposit for ET Finance?

$250

 

How do you make a deposit and withdrawal with ET Finance?

ET Finance offers the following deposit and withdrawal methods:

Credit/Debit Card, Wire Transfers, and some alternative e-wallets.

The same method that was used to fund an account must usually be used to withdraw money again and monies will only be refunded to accounts that carry the same name as the trading account with ET Finance

 

Does ET Finance charge withdrawal fees?

No, but fees from financial institutions may apply.

 

How long does it take to make a withdrawal?

ET Finance claims that withdrawals usually take only a few days. Traders should note however that depending on a specific bank service it may take several days for the money to be available in a client account.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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