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ETFX -

Score

2.01 /10
Danger

ETFX

New Zealand

5-10 years

Suspicious Regulatory License

MT4 Full License

Regional Brokers

New Zealand Financial Service Corporate Revoked

Suspicious Overrun

High potential risk

http://www.etfx.com/#

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Score

Regulatory Index0.00

Business Index7.50

Risk Management Index0.00

Software Index6.91

License Index0.00

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Licenses

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

Single Core

1G

40G

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Broker Information

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Company Name

ETFX

Company Abbreviation

ETFX

Platform registered country and region

New Zealand

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 5
Previous Detection : 2024-09-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • New ZealandFSPR (license number: 549786) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

ETFX · Company summary

General Information & Regulation

ETFX is a forex broker founded in 2017, operated by two companies, one based in Vanuatu (ET Service Limited) and the other based in New Zealand (Golden Finance Limited), both of which hold licenses under the Vanuatu VFSC (now revoked) and New Zealand FSPR respectively. ETFX appears to target the Chinese market and has set offices in China.

Market Instruments

ETFX offers investors financial assets in Forex currency pairs, gold, silver, CFDs, and crude oil. Tradable instruments available on the ETFX platform seems not that rich compared with most traders who can offer stocks, ETFs, crypto currencies, and more.

Minimum Deposit

ETFX offers only one standard account with a minimum initial deposit of $500. The initial deposit requirements is considered high. Actually, most brokers only require an initial deposit of around $100 to $200.

ETFX Leverage

When it comes to trading leverage, the maximum leverage level for forex instruments, oil, Gold & Silver is up to 1:200. Inexperienced traders are not advised to use such high trading leverage, as it is too risky.

ETFX Spreads & Commissions

The average EURUSD spread on ETFX for standard accounts is 1.9 pips, higher than the industry average, with most brokers offering EURUSD spreads between 1.1 and 1.5 pips. We all know that high spreads mean higher trading costs.

Trading Platforms

ETFX offers traders the most popular MT4 trading platform available, and the charting package on this platform is second to none. What's more, the MT4 trading platform offers a wide range of custom software add-ons, a large number of technical indicators, and support for automated trading systems.

Deposit & Withdrawal

After browsing through the ETFX website, regarding payment methods, it is clear that ETFX only supports traders to deposit and withdraw funds to their investment accounts via UnionPay cards, which is too limited a payment method for clients.

ETFX Cons

Some ETFX Drawbacks Include:

1. Unclear regulation

2. High spreads & high transaction costs

3. High minimum initial deposit requirements

4. Limited payment options

5. No cryptocurrency trading

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User comment

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Comments

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FX1077699044
more than one year
Mala plataforma. Al principio vi que el depósito inicial era de $500 y no invertí precipitadamente, luego vi esta mala información en wikifx... ¿por qué no arrestaron a estos estafadores?
Mala plataforma. Al principio vi que el depósito inicial era de $500 y no invertí precipitadamente, luego vi esta mala información en wikifx... ¿por qué no arrestaron a estos estafadores?
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2022-11-28 18:16
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FX1052007034
more than one year
Is there any other way to contact them? I can't access the website, no one answered my phone calls, and no one replied to my emails. I applied to add QQ, but also no one agreed to the application... **** it! Stole our money and got away with it.
Is there any other way to contact them? I can't access the website, no one answered my phone calls, and no one replied to my emails. I applied to add QQ, but also no one agreed to the application... **** it! Stole our money and got away with it.
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2022-11-27 15:25
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