ETFX -Some Important Points about This Broker
Abstract：ETFX was registered in New Zealand in 2003 and has regulatory issues. You can register a demo account, with a maximum leverage of up to 1:200 and average spread of 1.9 pips through the MT4 platform.
Note: ETFX's official website - https://www.etfx.com/# is currently inaccessible normally.
| ETFXReview Summary | |
| Founded | 2003 |
| Registered Country/Region | New Zealand |
| Regulation | FSPR/VFSC (Revoked) |
| Market Instruments | Forex currency pairs, Gold, Silver, CFDs, Crude oil |
| Demo Account | ✅ |
| Leverage | Up to 1:200 |
| EUR/USD Spread | Average 1.9 pips (Standard account) |
| Trading Platform | МetaТrader4 |
| Min Deposit | / |
| Customer Support | Tel: 4001338228 |
| Email: service@etfx.com | |
ETFX was registered in New Zealand in 2003 and has regulatory issues. You can register a demo account, with a maximum leverage of up to 1:200 and average spread of 1.9 pips through the MT4 platform.
Pros and Cons
| Pros | Cons |
| Long history | Unavailable website |
| Demo accounts | Regulatory issues |
| MT4 platform | Wide EUR/USD spreads |
| Limited payment options |
Is ETFX Legit?
No. ETFX currently has no valid regulations. It only holds two revoked regulatory licenses. Please be aware of the risk!
| Regulatory Status | Revoked |
| Regulated by | Financial Service Providers Register (FSPR) |
| Licensed Institution | GOLDEN FINANCE LIMITED |
| Licensed Type | Financial Service Corporate |
| Licensed Number | 549786 |
| Regulatory Status | Revoked |
| Regulated by | Vanuatu Financial Services Commission (VFSC) |
| Licensed Institution | ET SERVICES LIMITED |
| Licensed Type | Retail Forex License |
| Licensed Number | 40166 |
What Can I Trade on ETFX?
| Tradable Instruments | Supported |
| Forex currency pairs | ✔ |
| Gold & Silver | ✔ |
| CFDs | ✔ |
| Crude oil | ✔ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Leverage
ETFX offers leverage up to 1:200. Although lower leverage results in relatively lower returns, the risk is also reduced accordingly.
Spread
The average EUR/USD spread on ETFX for the Standard account is 1.9 pips, higher than the industry average, with most brokers offering EUR/USD spreads between 1.1 and 1.5 pips. We all know that high spreads mean higher trading costs.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
ETFX only supports traders to deposit and withdraw funds to their investment accounts via UnionPay cards.
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