ETFinance Review

Total nightmare company . Signed up and from that moment the phone calls never stopped . I contacted them and told the we had a sick member of the family and to call back in 2/3 weeks which they said fine but the calls carried on . Even telling me to invest now while covid-19 was effecting us . Still getting calls now 1 week after my account was supposed to be deactivated

I was pressed to put in a large amount of money. I have lost all in one week. There is no option to retrieve your left over balance. As a start you will receive many supporting phone calls from your account manager. Who will promise you to guide you in the learning process how to read the investing options. You will gain some money and after a short while you will start loosing. You will receive daily calls to press you to add extra money to your account, not to put your account into danger. After you have done this, your account manager will call you less and less. Only when your margin is in so called danger, he will phone you to ask for more money. You will see your balance getting less and less, despite the fact that the provided guideline when to buy or sell will be in your favor. There is no possibility in your account to retrieve your remaining balance. There is no possibility to close your account by yourself. There is no possibility to get in touch with the management. Dear people, think twice before hoping to earn some money, I am sure that the system is manipulated by ETFinance in such a manner you can only loose.

I've been trading with ETFinance very recently, so my position is not objective, but I still want to give my first opinion. On the first impression, in two months of trading, ETFinance has proven itself on a good side. What's positive is that there are many, many assets, there are training, there are swap-free accounts and many more. There is also training, so even beginners will feel comfortable. The spreads are lower than the market average, very good. I haven't noticed any disadvantages, so I can not say anything about them. Except that the website design is very pale, but it's a taste.

Quite a reliable broker, trading with them for two years. A little bit about the company, information from open sources. Magnum FX manages several brokerage agencies with different brands. In addition, the main domain of Magnum FX is ETFinance. Magnum FX (Cyprus) Ltd and its trademark ETFinance are licensed and controlled as they offer CFD trading services. ETFinance is licensed by the Cyprus Securities and Exchange Commission, also known as CySEC. This is a reliable license, so the regulations are clear. The trading process isn't controversial either, on the contrary I'm satisfied with the way it works, no problems. Btw there is a small disadvantage. ETFinance made the output process quite simple and easy. Withdrawal requests made after 11:00 GMT on a working day are processed on the next working day. However, according to the withdrawal and refund policy, the broker is entitled to charge a withdrawal fee of EUR 50 if there is no trading activity prior to submitting a withdrawal request. If you trade continuously and it is your main business, there will be no problem, but if you trade only occasionally as a hobby, you will have to pay a commission. That's not very cool.

I was informed that the trading is automated. I have been checking my account and it was trading. Today, I was asked how I was trading??!!
I ask for assistance to get my money back. I deposited £250 in January 2020. My account is not accessible.

I know a lot of people that trade, as ETFinance and other brokers. Among my fellows, I was first one to trade with ETFinance, primarly because the brokerage is regulated by CySEC. Whatever is going on, I know that I'm secured. I know that my brokerage is secure and I can don't worry. It was hard to explain some of my fellows why they want move to ETFinance, but I've this done and they are now of the same opinion :)

EtFinance is a good choice for CFDs trading. They’ve got spreads only and no other fees, use MetaTrader products for trading which I think is a plus, the number of assets in the list is very impressive. Most importantly, the company is working under CySEC regulation, so the funds are safe here. Well, trading has never been a safe haven for capital, but at least it's nice to know that the broker is working legally and won’t be able to steal your deposit and disappear. I’ve done 3 withdrawals so far, one arrived in 3 days, the other two were much faster.

The never payed me the sum that they scammed me, the issue is now forwarded to Cysec.

Prevous content was:
Since 3 weeks ago they agreed to pay 12k of 74k which they have scammed me. I haven't accept it. I have shared my bad experience in more forums and I have also created the facebok page (search for 'Etfinance scam people' in your facebook account). I will not give up until I recover all my money.
Previous I wrote:
Updated:
They wrote:
that they will increase the compensation refund in the sum of EUR 12,000.00

I wrote that I want all my money back which is 74000 EUR
The fight is still going on

Dec 11, 2019 - 1 Star They want to give me 7000 of 74000 (which they scammed me to lose). What a joke, Not acceptable.

Nov 21, 2019 - 1 Star Exactly the same experience as CKOne
I have lost almost 80k eur with trades I was recommended and lead into by my account manager, with the knowledge that I was not an experienced trader.
Repeatedly called by the account manager and persuaded to deposit more funds to trade and recover my losses.. convinced to open a professional trading account to recover lost funds by trading with larger volumes, and talked through the questionnaire answers to give in order to qualify as I was not an experienced trader.

The forex trades placed were advised late in the day and therefore needed to be left open overnight to profit from them as they opened with big negatives which I now know (having researched myself) is profit made by ETfinance. Also exotic forex trades advised on a Wednesday afternoon which I was not informed incurred a multiple swap with huge spreads. My account manager had even emailed me to advise me that closing the trades before the market closed was not a good idea!!!

Dec 16, 2019 - 1 Star Updated:
They wrote:
that they will increase the compensation refund in the sum of EUR 12,000.00

I wrote that I want all my money back which is 74000 EUR
The fight is still going on

Dec 11, 2019 - 1 Star They want to give me 7000 of 74000 (which they scammed me to lose). What a joke, Not acceptable.

Nov 21, 2019 - 1 Star Exactly the same experience as CKOne
I have lost almost 80k eur with trades I was recommended and lead into by my account manager, with the knowledge that I was not an experienced trader.
Repeatedly called by the account manager and persuaded to deposit more funds to trade and recover my losses.. convinced to open a professional trading account to recover lost funds by trading with larger volumes, and talked through the questionnaire answers to give in order to qualify as I was not an experienced trader.

The forex trades placed were advised late in the day and therefore needed to be left open overnight to profit from them as they opened with big negatives which I now know (having researched myself) is profit made by ETfinance. Also exotic forex trades advised on a Wednesday afternoon which I was not informed incurred a multiple swap with huge spreads. My account manager had even emailed me to advise me that closing the trades before the market closed was not a good idea!!!

Jan 3, 2020 - 1 Star Since 3 weeks ago they agreed to pay 12k of 74k which they have scammed me. I haven't accept it. I have shared my bad experience in more forums and I have also created the facebok page (search for 'Etfinance scam people' in your facebook account). I will not give up until I recover all my money.
Previous I wrote:
Updated:
They wrote:
that they will increase the compensation refund in the sum of EUR 12,000.00

I wrote that I want all my money back which is 74000 EUR
The fight is still going on

Dec 11, 2019 - 1 Star They want to give me 7000 of 74000 (which they scammed me to lose). What a joke, Not acceptable.

Nov 21, 2019 - 1 Star Exactly the same experience as CKOne
I have lost almost 80k eur with trades I was recommended and lead into by my account manager, with the knowledge that I was not an experienced trader.
Repeatedly called by the account manager and persuaded to deposit more funds to trade and recover my losses.. convinced to open a professional trading account to recover lost funds by trading with larger volumes, and talked through the questionnaire answers to give in order to qualify as I was not an experienced trader.

The forex trades placed were advised late in the day and therefore needed to be left open overnight to profit from them as they opened with big negatives which I now know (having researched myself) is profit made by ETfinance. Also exotic forex trades advised on a Wednesday afternoon which I was not informed incurred a multiple swap with huge spreads. My account manager had even emailed me to advise me that closing the trades before the market closed was not a good idea!!!

Dec 16, 2019 - 1 Star Updated:
They wrote:
that they will increase the compensation refund in the sum of EUR 12,000.00

I wrote that I want all my money back which is 74000 EUR
The fight is still going on

Dec 11, 2019 - 1 Star They want to give me 7000 of 74000 (which they scammed me to lose). What a joke, Not acceptable.

Nov 21, 2019 - 1 Star Exactly the same experience as CKOne
I have lost almost 80k eur with trades I was recommended and lead into by my account manager, with the knowledge that I was not an experienced trader.
Repeatedly called by the account manager and persuaded to deposit more funds to trade and recover my losses.. convinced to open a professional trading account to recover lost funds by trading with larger volumes, and talked through the questionnaire answers to give in order to qualify as I was not an experienced trader.

The forex trades placed were advised late in the day and therefore needed to be left open overnight to profit from them as they opened with big negatives which I now know (having researched myself) is profit made by ETfinance. Also exotic forex trades advised on a Wednesday afternoon which I was not informed incurred a multiple swap with huge spreads. My account manager had even emailed me to advise me that closing the trades before the market closed was not a good idea!!!

ETFinance is a SCAM! Exchange commission Regulators: CySEC #359/1
ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD

You will end up losing everything.
They will manipulate you into investing all your savings and borrowing.

I did see the advertisement online. When you register at ET Finance, a manager will call you. They will trick you into believing them to trust them completely.

They even told me they will be helping in each stage to make the money but they just pressure you to invest by borrowing otherwise I will be losing all I invested.

They let you invest a small amount of money and later they want you to deposit bigger amounts. When your tradings are in minus they want you to borrow money to save your tradings...
everything disappeared from my account and they called to tell me that I lost money, I can not understand how it can happen with somebody with trading experience broker like ETFinance. How can they have a good a conscience scamming people?

This is not right. I lost around €21000 with ETfinance. I am so depressed and I need help. I really want my money back from the scammers.
Can anyone help me please?

I always act according to the law and demand each company, I'm working with, to act properly. When I was choosing broker (the first one), it was hard to understand the difference between registration and regulation and because of this I've chosen unregulated brokerage. Everything was good, however I decieded to transfer my funds to a regulated broker. This time I chose ETFinance. After around 6 months of trading I can say that conditions aren't different compared to previous brokerage (many people told me that regulated brokers provide bad conditions), but I have confidence that my brokerage is regulated by the EU authorities and I act according to the law.