ETFinance Review

1.78 • 33 REVIEWS
Out of business Magnum FX (Cyprus) Ltd
Updated: Mar 7, 2023
ETFinance is a forex broker. ET Finance offers the MT4, WebTrader and Mobile forex trading top platform. offers over 45 forex currency pairs, cfds, commodities, stocks, indices, gold, silver, bitcoin and other cryptocurrencies for your personal investment and trading options. is part of Magnum FX (Cyprus) Ltd group. Known members of this group include,

Website is down. Company seems to be out of business.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: Unknown
Established: 2016
Address: KPMG Center, 1 Agias Fylaxeos Street, 2nd Floor – Office 1, 3025 Limassol, Cyprus
Contact:, +8006 003 7004
Regional offices:
Regulators: CySEC #359/18
Prohibited countries:
Trading platforms: MT4, WebTrader, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (50+)
Cryptocurrencies: (30+) Bitcoin, Litecoin, Ethereum
CFD: (220+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: VISA, MasterCard, Maestro, Neteller, Skrill
Withdrawal Methods: VISA, MasterCard, Maestro, Neteller, Skrill
* Please check broker website for more information
1.78 • 33 REVIEWS

Recent User Reviews of ETFinance

Algiers, Algeria,
Feb 19, 2020,

For me, ETFinance is the best brokerage

Service use: Live Length of use: over 1 Year
For me, ETFinance is the best brokerage among many other brokerages, as it's based in the EU (Cyprus) and is regulated by Cyprus Securities and Exchange Commission (CySEC) that is the part of the European Union regulatory boards, so CySEC applies the same principles in regulations as other Security and Exchange Comissions throughout the European Union (or SEC equivalent). ETForex sometimes can seems to be 'typical broker', however, I can ensure you, that there are some interesting points that distinguish it from other brokerages and make it one of the best choice (on my own, of course, you may have different opinion).
ETFinance has reasonable spreads (if we compare quality of service and the spreads amount), 24/7 trading, as well as 24/7 support and convenient trading platform (Metatrader 4). As it is mentioned on the ETFinance website, the Metatrader is top-notch platform. Of course, usually brokerages praise their features, so I don't trust official websites, but in this case that's 100% true. Metatrader is world-recognized top-notch trading platform, that left all competitors to trail behind. As on my own, the major Metatrader 4 advantages are: fast order execution (yeah, it depends also on the brokerage itself and ETFinance is good in this matter), WebTrader version, that can be used in browser, a lot of indicators.
I think the things like licences aren't interesting for most people, but I will share some info. I think the main point is reliability - ETFinance is reliable enough. As I said, it's regulated by CySEC and the license number is 359/18. I checked it - everything is clear.
So, finally, ETFinance is 100% regulated, European Union based brokerage with good trading conditions and order execution, that's basically reasons why I trade it :)
Khon Li Mai
Hanoi, Viet Nam,
Feb 16, 2020,

ETFinance is broker with profit-risk balance

Service use: Live Length of use: over 1 Year
The only thing that I don't like in this brokerage is it's name. For sure, that's just my own taste, but I like more cool names. However, in trading regard there is almost no equals that can stand against vs ETFinancr and I know what I'm talking about, that's not just blah-blah. I trade with ETFinance for around 3 years, but I tested other brokers as well (before ETFinance and even when I was already trading with this brokerage, just to keep control over market) and no one of brokers didn't seem to me to be better than ETFinance. Brokerage is CySEC regulated with ECN market execution (as far as I know, that's the best type of order execution even possible). Despite all this perks, spread policy is really fair, brokerage don't robb me with countless comissions, fees and 'pay for this first'. I just pay spreads and get well-quality service, that's the sign of quality.
Tangier, Morocco,
Feb 12, 2020,

Regulated brokerage

Service use: Live Length of use: over 1 Year
I'm with ETFinance for 2 years and I there was no problems or occassions for that time. Brokerage is well, 100% regulated by the EU authorities (CySEC) and in case there even can be some problems, you can always contact with regulator and get refunded or your issue will be resolved in any other way.
I was excited of education opportunities there. Yeah, I don't need such education, but is conducted in so great way. On official website there is separated section, that contains VODs (videos on demand), blogs, tutorials, courses and even (!!) Ebooks. Why is that so great? Cause each material is short and up-to-date, with no blah-blah, brokerage just delivers really useful info for all novice traders. Looking on this educational opportunities, I'm a little bit upset that I'm experiened enough and can't use them. hah :)
Hari Fujiati
Tulungagung, Indonesia,
Feb 10, 2020,

Reliable brokerage

Service use: Live Length of use: 3-6 Months
In fact, major part people need 2 things: reliable order execution and reliable withdrawals. I can even bet, that most people don't need a fast withdrawals, but fast is a synonym of "reliable". My experience with ETFinance proves that this broker is like this. It's regulated by CySEC and there's no lags when executing orders and withdtrawals are also fast and I always get them in time. So what I need more?
Viman Mustofa
Palangkaraya, Indonesia,
Feb 8, 2020,

What do you need from your brokerage?

Service use: Live Length of use: 6-12 Months
That's really important to answer before you will make a decision. What you need determines what you will get and you should be guided by your NEEDS, not your desires or reviews. Your NEEDS is what really matter. Also, you should understand you needs clearly, with no rubbish. Analyze your trading experience and draw up what you really use. When I was choosing a broker, I clearly understood that my brokerage should be trusted, regulated and with good reputation. Than I go to analyze and seek for brokerage that fit my needs. I rejected many brokers, as they try to offer you not good service, but some so-called outstanding features, that you won't use, but will be excited with. After a long time of analyzing I decided to choose ETFinance for the number of reasons. I need brokerage with Metatrader 4 and Webtrader - ETFinance has this. I need my brokerage to be regulated and ETFinance is regulated by CySEC that is the part of joint authorities of the European Union finance regulations. The spreads with ETFinance are also quite tight and even when market turns to be extremely volatile I pay around 2.5 pips and that's extremely rare, usually they don't exceed 2 pips. Support service in ETFinance is quite responsible and you can easily get all needed info. As for me, that's the mix that turn me to work with this brokerage. I can rely on it, I know it is regulated and trading conditions are okey. There's no features that aren't needed and brokerage don't try to draw your attention with some ghostly opportunities. I don't mean each person should has such set of needs, but I think 90% of traders need just reliable brokerage, so I can suggest ETFinance.
Abbas Pandya
Rishikesh, India,
Feb 4, 2020,

Great broker with long-list of assets

Service use: Live Length of use: 6-12 Months
I like ETFinance mainly for twor reasons. First of all, this broker is fair and 100% EU regulated, so I don't even care about my funds and their security, as I know everything will be okey. CySEC is the part of the EU SEC regulation body, so it apply the same standards as SEC regulator in any of the EU countries. Secondly, I like that ETFinance has long list of assets, as sometimes it happens that broker is cool, but there is no enough assets to trade with and you have no options to choose. ETFinance is not like this and you can choose whatever you want from their vast list of assets.
North East, United Kingdom,
Jan 25, 2020,
Registered user

ET Finance scam

Service use: Live Length of use: 0-3 Months
The account manger will manipulate you into investing all your savings and borrowing. This is a scam. I am in the process of taking action against this company having lost £30,000.
2 traders have found this review helpful
jomon thomas
london, United Kingdom,
Jan 21, 2020,
Registered user


Service use: Live Length of use: 0-3 Months
I hereby confirm that my complaint was duly resolved by the Company and I have been provided with comprehensive information and explanations in relation to the matter.
Therefore, I no longer have any complaints against the legal entity Magnum FX (Cyprus) Ltd and brand name ETFinance and I duly confirm that I will safeguard any Confidential Information in regard to the Company.

Jan 19, 2020 - 1 Star ET FINANACE - SCAM with Cyprus Securities and Exchange commission [ CySEC] under license number 359/18.
ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD registration number HE 360548
October 2 /2019
I saw an advertisement in Facebook , I clicked on it and somebody called Gal B contacted me from ETFINANCE and introduced that he is my manger, helping to do the trading through ETFINANCE . As per his advice I started to trade and misleading by gaining my trust and he also introduced me to his Manager some body called Sahal. They both talking to me and my wife to invest in ET finance to make a good profit . They even told us they will be helping in each stage to make the money but They just pressurised to invest by borrowing otherwise we were losing all we invested. Overnight I made £18000 and Gal B called me to invest that to make profit , please see the details below .
Next day everything disappeared from my account and Gal B called to tell that you lost money, I still don`t understand how it can happen if somebody with trading experienced broker like ETFinance.
I am working in the night and have a family ,with 3 children, all my hard earned money I believed and trusted ETFinance is a a good broker to help with trading. I need Justice and all my Money I invested and gained by trading all together £43500 is with ETfinance . I am happy for ETFinance to take their broker fee and I need rest of the money. Please somebody give me advise how can I get my money back from this scammers.
1 trader has found this review helpful
Wells, United Kingdom,
Jan 20, 2020,
Registered user

High pressure

Service use: Live Length of use: 0-3 Months
This started off very friendly & seems helpful. However, the 'financial manager' was asking how much I had in savings, and gave a lot of examples of how much I could earn if I invested all of it. I explained that I was just testing the water & was not prepared to invest more than the initial amount (£250) I felt pressed to invest more, even though I had not even one transaction completed. I decided I was uncomfortable & said I would withdraw my money. I then got a further call from a 'manager' who said that I should give it a go & that he would not risk his reputation for only £250. If it was such an insignificant amount, why were they so keen on pressing me to continue? Smelt a rat & required refund only to be told that I would lose £50 charges!!! Rip off, scam, do NOT get involved!!!!
2 traders have found this review helpful
Gifty M1
Leeds, United Kingdom,
Jan 8, 2020,
Registered user

ET finance scammed me

Service use: Other Length of use: 0-3 Months
Hi! So i saw their advert when i was watching a movie and i clicked on it. Someone called me that day said so many good things and told me to deposit £200 which i did, when i went home my boyfriend told me to stop so i requested for my money back and only got £155 because i did not trade with the money so i call et finance and was told if i put in some fund and trade with it, i will get my £45 back so i was told the deposit £3245, which actually was my uni fee and i told my account manager ( ohad is his name) and he said not to worry that i will get more money. I did get the £45 back and was encouraged to trade 2 positions. Within a few days i was called by someone who claims to be my account manager's manager and said I have made a profit of £500 but i was not told to close the trade and be mindful that firstly I was new to trading and secondly i didn't know how to close a trade. The next day i received call saying my accounts is in a minus so i convinced (forced) to deposit £3000 so that i can recover my losses which i did, we opened a new trade which automatically closed it self next day with a loss of £630. My accounts manager called again and qe closed all the trade and opened different trade with the idea of gaining back all my loss. There was one trade which i noticed was getting higher swaps and i wanted to close it but was told to leave it because i will profit more, there was one i tried closing it myself at home but it would not because it was frozen by them, on the day of uk elections my accounts manager called me that i should add more funds since they will see large movements so i borrow money from my sister and i deposited £2000. The next day i called and withdrew £1000 because i promised my sister i will give back her money. My accounts manager told me to leave the trade alone and let them work so at the and am was left with a balance of £1103.09 instead of 7290. I have requested for a withdrawal of the 1103.09 but how do i get £6186.91 back because that is my uni fees and my credit card money which is now having interest on it. And why do they give you an account manager who sit down for you to lose all your income. Please help???? Should i report it to my bank or get lawyer. Please help???
1 trader has found this review helpful
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Frequently Asked Questions

Is ETFinance a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if ETFinance is a good broker.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

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What is ETFinance?

ETFinance is an online forex broker. ETFinance offers following assets to be traded on Metrader 4, Webtrader and mobile App.
  • Forex currency pairs
  • Crypto pairs
  • Indices
  • Commodities
  • Stocks

Is ETFinance regulated?

ETFinance is a brand name of Magnum FX (Cyprus) Ltd.

Magnum FX (Cyprus) Ltd. is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 359/18.

What is the maximum leverage for ETFinance?

ETFinance offers a variable maximum leverage based on the category of the account.
  • Retail account is 30:1
  • Professional account is 500:1