Among all available online broking platforms ETFinance an investment firm seems to stand out itself without any reviews. Run by Magnum FX (Cyprus) Ltd., having its offices in Limassol(Cyprus) it offers trading under forex and other CFDs respectively.
Shares and stocks, forex, indices, commodities and cryptocurrencies are all the range of markets it allows its clients to trade under CFD trading. Again oil, agricultural assets and precious metals can be invested under the commodity segment. From asset index position viz. DOW30, FTSE 100 and S&P 500 has beed added under indices section. The option of crypto CFDs trading through Bitcoin to the recent Litecoin has also included into their kitty.
What separates from others is the 24/7 accessibility of the market while you are trading through this broker. To open any type of account viz. retail or professional you need not have to be a pundit. The entire registration process is simple and straightforward for a novice.
Since 2 years it has won many credible industry awards while operating as a financial broker. The most noteworthy awards and mentions for ETFinance below.
- Uses the MetaTrader 4 Platform
- Best Multi-Asset Trading Platform 2016(Finance Magnate London Summit Awards)
Regulatory authority Cyprus Securities and Exchange Commission (CySEC) is the oversee of ETFinance which gives traders a peace of mind in doing trading. In maintaining separate bank accounts to protecting data of clients it deals with all best financial current digital practices to prevent any kind of financial fraud based systems.
All the instruments offered on ETFinance is commission-free. Whereas, spreads are floating and therefore variable. Depending on the instrument being traded other trading costs such as swaps also vary.
Trading Platforms : Web & Desktop
ETFinance trading platform of Meta Trader 4, Web Trader or the ETFinance Mobile Trading App which are free to use can be accessed from the Client Area once logged in.
- Web Trader :
This can be used with most browsers at the click of hitting the button requiring no downloads or installation. It is a notable platform having easy interface including Visual Trends and Cubes.
- MetaTrader 4 :
This platform a much better than others can be used on mobile as well as desktop if one have already worked with it. Extensive features in the mode of technical ndicators, integrated tools including automatic trading features is the highlights of the platform.
The ETFinance Meta Trader 4 Web Trader platform gives the option of same key trading features as the desktop version such as:
- Single click trading
- Wide variety of free trading indicators
- Multiple asset classes
- Mobile Trading :
This delivers on a equal footing designed as a mobile app for for Android and iOS devices also having in built right features and tools required for the same.
Traders can access all of their tradable instruments through one type of trading account it offers on the Meta Trader 4 platform. A demo trading account is also offered for beginner traders visa vis advanced traders.
It is suitable for beginners since it comes with customer support with spread as low as 0.07. The minimum amount of $250 can be deposited having a good chance of getting a maximum leverage of 1:30.
Seasoned traders having knowledge of the ins and outs of the market can go for this level where one can use maximum leverage of 1:500 to their greater advantage. Having a dedicated account manager the spreads can go down to 0.05 with access to webinars including videos is also given.
The experienced traders can use this account having additional tools with spreads as low as 0.03. Also a discount of 50% on SWAPs is also available.
Deposit & Withdrawals Options
There are several options for deposit and withdrawal of funds in the means of credit and debit cards as well as through pay by Bank app and Trustly Instant Bank Transfer.
Assistance and Guidance
An in-depth video on demand (VOD) library is provided by ETFinance offering advanced and basic trading lessons. On its homepage, one can visit their Education page hosting an online trading education library having packed full of high-quality videos on a host of several topics including:
- Basic Forex Education
- Chart formation patterns
- Forex indicators
- Timing in Forex
Hence, the resources and customer service section of the same is worth mentioning. Also
the staff is highly knowledgeable and user friendly deployed in this firm is very helpful where one can explore multiple options like phone and email. Live chat option is also available on this platform. Feedback on questionnaire is responded back to the user within a couple of hours. Language in the form of English and Spanish medium is also supported on this platform.
ETFinance Trading Costs
Trading fee or commission is not charged here on forex trading by ETFinance. The investment firm aims to earn a profit via spreads. Floating spreads are also offered which looks quite reasonable if compared to other existing brokers. The commission-free model is very attractive since it means no high transaction fee is incurred every time one is logged in.
This is one of the best choices for traders as partner when combined with its trading platform, tools and resources, numerous account types and its responsive customer support it offers.