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ETFinance -

Score

1.52 /10
Danger

ETFinance

China

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://cfd-trading.lp-etfinance.eu/u/c8e8514e37f1e7ac93ec

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Time Machine
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Score

Regulatory Index0.00

Business Index7.04

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The CyprusCYSEC regulation (license number: 359/18) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

ETFinance · Company summary

Note: ETFinance's official website: https://cfd-trading.lp-etfinance.eu/ is currently inaccessible normally.

ETFinanceReview Summary
Founded2018
Registered Country/RegionChina
RegulationCySEC (Suspicious clone)
Market InstrumentsForex pairs and CFDs on soft commodities, cryptos, stocks, indices, metals and energies
Demo Account✅
LeverageUp to 1:30
SpreadFrom 2.0 pips (Standard account)
Trading PlatformMetaTrader4, WebTrader, MobileTrader
Min Deposit/
Customer SupportEmail: support@etfinance.com
6 languages supported on the website

ETFinance was registered in 2018. It provides forex pairs and CFDs for trading with leverage up to 1:30 via the most popular trading platform - MT4. However, its regulatory license is a suspicious clone, and the contact methods are limited.

Pros and Cons

Pros Cons
Various trading instrumentsSuspicious clone regulation
Popular trading platform MT4Wide spreads on the Standard account
No info on minimum deposit
Limited contact methods

Is ETFinance Legit?

Regulatory AuthorityCyprus Securities and Exchange Commission (CySEC)
Regulatory Status Suspicious Clone
Regulated by Cyprus
Licensed Institution MAGNUM FX (CYPRUS) LTD
Licensed TypeStraight Through Processing (STP)
Licensed Number359/18

ETFinance's regulation is suspicious clone. It was registed in China, but it shows regulated bt Cyprus. Besides, the email address and website are different. Traders should be careful.

Is ETFinance Legit?

What Can I Trade on ETFinance?

Tradable Instruments Supported
Forex✔
CFDs✔
Soft Commodities✔
Metals✔
Energies✔
Indices✔
Stocks✔
Cryptos❌
What Can I Trade on ETFinance?

Account Type

ETFinance offers four account types: Bronze, Silver, Gold and Platinum. Islamic accounts are also provided.

Account Type

Leverage

ETFinance's leverage is up to 1:30. Though the leverage is low, traders should know investing more can have two results: gain more or loss more.

Spreads and Commissions

The spread of ETFinance varies by the accounts. And the Bronze account shows 0% deposit commission.

Account TypeMinimum Spread
Bronze2.0 pips
Silver0.07 pips
Gold 0.05 pips
Platinum0.03 pips

Fees

ETFinance has substantial inactivity fees of up to €500 per month.

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT4✔Desktop, Web, MobileBeginners
Webtrader✔Web/
Mobiletrader✔Mobile/
Trading Platform
Trading Platform

Deposit and Withdrawal

ETFinance supports deposit and withdraw through VISA, MasterCard, bank wire and popular e-wallets like Neteller and Skrill. There is a bank transfer fee €15, while the minimum deposit and withdraw fees are not mentioned.

Deposit and Withdrawal

User Reviews

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User comment

2

Comments

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睡其
more than one year
Man, I've traded with ETFinance, and I gotta say, it was a total nightmare. Their salespeople are all about getting you to open an account, but once you do, it's a whole different story. The trading environment is just terrible - I mean, I've never seen anything like it. It's like they just don't care about providing a decent trading experience for their clients.
Man, I've traded with ETFinance, and I gotta say, it was a total nightmare. Their salespeople are all about getting you to open an account, but once you do, it's a whole different story. The trading environment is just terrible - I mean, I've never seen anything like it. It's like they just don't care about providing a decent trading experience for their clients.
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2023-03-27 10:32
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BZGC
more than one year
Slow market execution. Wide spreads. Slow withdrawal process. Wasn't a pleasant experience, couldn't withdraw my funds... They have black hearts!!!!
Slow market execution. Wide spreads. Slow withdrawal process. Wasn't a pleasant experience, couldn't withdraw my funds... They have black hearts!!!!
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2023-02-28 18:17
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