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EuroFinance Review

EuroFinance Review

 

Overall, EuroFinance offers traders an Individual Live Standard Trading Account that can be used on all three of their trading platforms.EuroFinance does not charge any deposit or withdrawal fees.EuroFinance is regulated and licensed by the FSC

 

EuroFinance at a Glance

 

📅 Year Founded1993
📍 Head Office
Bulgaria
⚖️ Financial Regulatory Bodies
FSC
📈 Managed accounts
Yes
📊 Institutional accounts
Yes
☪️ Islamic AccountNo
💰 Minimum Deposit
$ 100 / R1 548
👍 Demo Trading Account available
Yes
🌐 Countries not accepted for tradeUnited States
💰 Withdrawal options
Debit/ Credit card and bank wire transfer
📒 Deposit optionsDebit/ Credit card and bank wire transfer
💻Platform(s) providedEF MetaTrader 5, EFOCS and TWS
🖥️ OS compatibility
Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
📈 Tradable assets
Offers over 300 assets comprising of the following: Forex, Commodities, Indices, Precious Metals, and Energy.
📓 Languages supported on the websiteEnglish and Bulgarian
📓  Customer support languagesEnglish and Bulgarian
☎️ Customer service hours24 hours a day, six days a week.
Maximum Leverage1:500
👉 Open a account👉 Click Here

 

Overall Rating

4.7/5

Rated #239 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ESMA

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

EuroFinance Review – 19 key points quick overview:

 

 

EuroFinance Overview

 

EuroFinance Overview

 

Finding a reputable EuroFinance 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 EuroFinance to help you make an informed decision before opening your account or trading on their platform.

 

Overall Rating

4.7/5

Rated #239 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ESMA

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Euro-Finance is a forex broker company in Bulgaria.

 

A Forex broker like Euro-Finance provides traders access to one or more platforms that will allow them to buy and sell foreign currencies. Forex brokers are also known as retail or currency trading brokers. Retail currency traders in turn use these broker companies to gain access to the 24-hour currency market for speculation purposes.

 

Forex broker services can also be provided for institutional clients and large companies such as investment banks.

 

Euro-Finance was founded in 1993. The broker is regulated in the European Union and also is a full member of the Deutsche Börse Group.

 

Over its more than 20-year history, Euro-Finance’s main concern has been compliance with the best practices in the trading industry, as well as providing its traders with the best and most professional customer service.

 

As an investment intermediary leader in Bulgaria, the broker offers a large variety of services in the capital markets and in corporate finance.

 

Euro-Finance offers their clients trading in more than 300 assets such as forex, gold, silver, oil, indices, and stocks and they provide the extremely popular MetaTrader 5 platform for trading. This allows their customers access to international markets while using the latest technology.

 

EuroFinance Awards and Recognition

 

EuroFinance Awards and Recognition

 

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.

 

Although Euro-Finance is rated highly by some customers in personal reviews on review websites, there is no information available on the Euro-Finance homepage or elsewhere about any awards received by them.

 

EuroFinance Accounts

 

EuroFinance Account Types

 

A forex account is a trading account held by a trader with a company like Euro-Finance that is issued with the primary purpose of trading through its platforms. Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.

 

Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and certain services or advantages that account holders may get access to.

 

In the case of Muslim customers, special Islamic accounts, that is swap-free accounts, are offered that mirror the other account types, but which operate in accordance with Shariah law.

 

EuroFinance Types of Accounts and its Features

 

Euro-Finance offers only one account type.

 

Euro-Finance offers traders an Individual Live Standard Trading Account that can be used on all three of their trading platforms.

 

The minimum deposit to open the account is $100 and the account can be opened online.

 

EuroFinance Deposits and Withdrawals

 

EuroFinance Deposits and withdrawals

 

The deposit currencies that can be used to open the Individual Live Standard Trading Account are EUR, USD, and BGN, and the minimum deposit to open an account is $100.

 

The payment methods by which deposits and withdrawals can be made include debit or credit cards or a bank wire transfer.

 

Euro-Finance does not charge any deposit or withdrawal fees.

 

EuroFinance Cost and Fees, Commissions and Spreads

 

EuroFinance Fees and Spreads

 

The cost of trading depends on different factors like commissions, spread, and margins.

 

The spread of a currency pair is the difference 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.

 

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

 

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

 

Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

 

While the contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, its trading on shares will incur a commission. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

 

📍 Euro-Finance charges the following fees:

Spreads

Euro-Finance charges floating spreads which are subject to market trends and what assets are traded.

Deposit and withdrawal fees

There are no withdrawal or deposit fees for clients with Euro-Finance but your financial institutions might have fees.

Inactivity fees

There are no inactivity fees charged.

 

EuroFinance Leverage

 

EuroFinance Leverage

 

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

 

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

 

Assuming that a trader has $1000 in a trading account and is trading ticket sizes of 100000 USD/JPY, that leverage will equate to 100:1.

 

Traders should always keep in mind that, although high leverage offered may be a plus point for the brokerage, trading at such high leverage should only be attempted by experienced traders that know how to prevent big losses.

 

Euro-Finance allows its traders to use a maximum leverage ratio of up to 1: 500.

 

EuroFinance Bonuses

 

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

 

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

 

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

 

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, thus ruling out the offering of such bonuses.

 

According to the company website and other sources, Euro-Finance does not have any current start-up bonuses, referral bonuses, or trading bonuses for its clients.

 

EuroFinance Trading Platforms, Software, and its Features

 

EuroFinance Trading platforms

 

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

 

Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested over time. If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best.

 

📍 Euro-Finance offers its clients the following platforms:

 

 EuroFinance Account Features

 

EF MetaTrader 5

With Euro-Finance, their clients can download the EF MetaTrader 5, the most powerful, popular, and user-friendly platform for Forex and CDFs trading. Successful trading on financial markets begins with a comfortable and multi-functional trading platform. MetaTrader 5 is the best choice for the modern trader.

 

 EuroFinance Account Features

 

EFOCS

This system is specifically for direct exchange trading. EFOCS provides its clients with the unique opportunity to trade with securities listed on the Bulgarian and Frankfurt stock exchanges at the same time.

 

EuroFinance Account Features

 

TWS

This market maker-designed IB Trader Workstation (TWS) lets traders, investors and institutions trade stock options, futures, bonds, and funds on over 100 markets worldwide from a single account.

 

EuroFinance Markets, Products, and Instruments

 

📍 Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, currency, or FX trading involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

 

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is an actual stock market index that measures the value of a specific section of a stock market.

 

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

 

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

 

Cryptocurrencies:

📍 Tradable cryptocurrencies include the following:

Bitcoin (BTC)is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

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

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

Euro-Finance offers more than 300 assets comprising the following: Forex, Commodities, Indices, Precious Metals, and Energy.

 

Overall Rating

4.7/5

Rated #239 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ESMA

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

EuroFinance Safety and  Regulation

 

EuroFinance  Safety and Security

 

Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like Euro-Finance 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 clients’ 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.

 

Euro-Finance is regulated and licensed by the FSC and they are a member of the Deutsche Börse Group.

 

EuroFinance Customer  Support

 

EuroFinance Customer  Support

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may also play a role when choosing a broker.

 

The customer support team of Euro-Finance can be reached via telephone, email, and live chat function on their website.  The customer services team is known to be extremely efficient and can help clients in English and Bulgarian. Their customer services are available 24 hours a day, five days per week.

 

EuroFinance Education and Training

 

EuroFinance Education and Training

 

Before starting to trade, potential Euro-Finance clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If Euro-Finance’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge.

 

Euro-Finance does not seem to offer any educational tools or tutorials on its website.

 

EuroFinance Research

 

Potential traders need to be enabled to do as much as possible research about speculative trading before commencing to do it and while trading with a specific brokerage. Trading successfully relies heavily on knowledge and understanding of the markets and the platforms offered by a broker, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

 

Euro-Finance offers research options via its trading platform functions. On these options, clients can find economic calendars, research analyses, and more.

 

Conclusion

 

Overall, EuroFinance offers traders an Individual Live Standard Trading Account that can be used on all three of their trading platforms.EuroFinance does not charge any deposit or withdrawal fees.EuroFinance is regulated and licensed by the FSC

 

Disclaimer

 

Euro-Finance warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by Euro-Finance, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use Euro-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 Euro-Finance promises 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.

 

Frequently Asked Questions

 

TRADING ENVIRONMENT

  1. How many instruments can I trade with Euro-Finance?

You can trade over 300 different instruments with Euro-Finance, which include the following:

  • Forex
  • Commodities
  • Indices
  • Precious Metals
  • Energy
  1. Which platforms are supported by Euro-Finance?

Euro-Finance provides the following popular trading platforms:

  • EF MetaTrader 5
  • EFOCS
  • TWS
  1. Does Euro-Finance offer leverage?

Yes, Euro-Finance offers maximum leverage of up to 1: 500.

  1. What spreads can I expect with Euro-Finance?

Euro-Finance offers different kinds of floating spreads on its various accounts and trading assets.

Since details on the website are not clearly enough stipulated, more information should be obtained from the customer support service in order to make an informed choice.

  1. Does Euro-Finance charge a commission?

No, Euro-Finance does not charge commissions which can be seen on their website.

More information on commissions may become available after opening an account or can be obtained from the customer support service.

  1. Is Euro-Finance regulated and by whom?

Yes, Euro-Finance is strictly regulated by the FCA in Bulgaria which also falls under the EU.

  1. Is Euro-Finance a recommended forex trading broker for experts and beginners?

No, Euro-Finance offers a fairer trading environment for the more skilled traders.

  1. What is the overall rating out of 10 for Euro-Finance?

8/10

 

ACCOUNTS

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

A demo account offered by broker companies like Euro-Finance is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features, before setting up a real account that needs to be funded with the customer’s own real money.

Does Euro-Finance offer a demo account?

Yes

  1. Can I convert my demo account to a live trading account with Euro-Finance?

This is not clear from the information on the company homepage.

  1. Which live trading accounts does Euro-Finance offer?
  • Euro-Finance offers a standard individual account that can access all three trading platforms.
  1. What are the available deposit currencies for a live trading account?

EUR, USD, and BGN

DEPOSITS AND WITHDRAWALS

  1. What is the minimum deposit required to open an account with Euro-Finance?

$ 100 is the minimum requirement to open an account.

  1. How do you make a deposit and withdraw money with Euro-Finance?

Euro-Finance offers the following deposit and withdrawal methods:

  • Debit or Credit Card or Bank wire transfer.

The same method that was used to fund an account must normally be used to withdraw money. Also, monies will usually only be refunded to accounts in the same name as the trading account.

  1. Does Euro-Finance charge withdrawal fees?

Euro-Finance does not charge withdrawal fees

Fees from financial institutions may be applicable and more information about applicable costs can be obtained from the company’s customer service team.

  1. How long does it take to make a withdrawal?

Withdrawals by means of certain methods may be processed within a shorter period than others. Usually, withdrawals take a few days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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