Is ETFinance Safe? A Detailed Broker Review
ETFinance is an online broker that is offering trading services in several trading instruments. This is one of the leading brokers that are offering online trading services through a verified trading platform. Traders can trade commission-free and enjoy the quality educational material provided by the broker.
Birth of ETFinance
The broker was founded in 2018. It is a Cyprus based broker that is a brand name of MAGNUM FX (CYPRUS) LTD. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 359/18.
Can Traders Start with a Demo Account?
Traders can start with a demo trading account that is available free of charge. It is safe for traders who are new in the market and do not want to risk their funds. The situations of a demo account are designed like the real situation. So, that a trader gets the right experience of the market.
What Are the Benefits of This Broker?
ETFinance is a good online broker and traders can enjoy many benefits from trading with this broker. Some of the benefits are:
Multiple Account Types
Traders get three options to choose a real account type that are:
These are three types of trading account that are offered by a broker. Traders can choose among their requirements. Each account type has different features that traders need to compare before selecting one. Apart from it, traders also get a professional trading account.
Several Trading Products
Traders can choose among a wide variety of trading instruments that are:
- Forex trading
- CFD trading
These all are the trading assets available for trading. CFD trading is also accessible with this broker. But traders should invest in CFDs after thorough research. Many investors lose their money while trading CFDs.
High Trading Leverage
Traders get high trading leverage that is up to 1:500. This means with 1 US dollar of investment a trader can trade with 500 US dollar. Leverage is good for trading as traders need to invest less money and they can increase their profits.
Educational Material for Traders
Traders can freely access a wide range of trading material offered by the broker. These assist traders to enhance their knowledge and make better investment decisions. Educational materials are available in various formats such as:
These are some of the common educational resources that are offered by the broker.
The broker is offering five days and twenty-four hours of dedicated customer support. Customer support is available in multiple ways such as email, live chat, and telephone. Any issue faced by the customer resolved in the lowest time as soon as possible.
Friendly Trading Platform
The broker is offering to trade on a user-friendly trading platform that is MetaTrader 4. Traders can access the platform from a web browser, desktop, and official mobile app. It makes the trading platform easy to access and traders can enter the global financial markets with a single click.
Pros of Trading with ETFinance
There are several advantages of opening a trading account with this broker. Some of the benefits are listed below:
- Traders can practise hedging and other trading strategies with this broker.
- High leverage is available for trading that is a maximum of 1:500.
- It is a regulated broker that means safe for traders and can be trusted.
- The trading platform is protected with SSL and firewalls to encrypt traders data.
- A demo trading account is provided by the broker before you start with a real one.
- A wide variety of trading instruments along with CFDs trading.
- Traders can even begin their trading account with a low investment of $250.
- A newbie trader can take assistance from the educational materials provided.
- MetaTrader 4, WebTrader, and Mobile app trading platforms.
- Dedicated customer services 24/5 through multiple ways.
- Market research tools and trading signals offered by the broker.
The pros of trading with this broker are on the higher side. So, traders should consider this broker while they are selecting an online broker for trading.
An Award-Winning Broker
The broker is an award-winning broker which represents that for traders it is a good choice. Some of the awards won by the broker are:
- The Best CFD Broker Europe 2020 by The European
- Fastest Growing CFD Broker Europe 2019 by International Business Magazine
- The Best Forex Broker 2020 by Brokercheck
- The Best Customer Service 2020 by International Financial Awards
- The Best Forex CFD Provider 2020
- The Best Cryptocurrency Broker Europe 2019
These are some of the awards that are won by the broker and that makes it the best CFD broker.
Safe for Traders
The trading platform is completely safe for traders. As the platform is protected by Secure Sockets Layer (SSL) and firewalls to ensure that the data of traders are safe from hackers. Traders can trade without any stress with this broker as your funds are in safe hands.
The Bottom Line
ETFinance is one of the best brokers for beginners as well as for experienced traders. The trading platform is designed for the easiness of trading in managing their trading activities. Your funds are safe with this broker as this broker is a regulated one and ensure firewall & SSL protection. Traders can trade in many different kinds of financial markets using this broker. Start trading with a maximum leverage of 1:500 for professional traders.