ETFinance Review

Be warned! I lost $39,000. This is a scam. They manipulated the result so all ur assets will turn negative in the end and won't ever turn around!

I lost nearly £30,000 very quickly. Scammed all the way and pressurised into getting large loans. I told them repeatedly that I did not have any experience with money markets and was told not to worry because my manager will help me. They used my ignorance to make money. I do not know how they are still registered!

In my personal experience this company used adverts with fake celebrity endorsements, aggressively pushed me to invest money continuously, understood that I was a complete novice but still made me a professional trader by making me complete documents when I did not match the criteria needed. They gave me false promises of high profits without risk.

I have lost everything, all my money to this company and when I called to complain, 2 women their laughed at me.

Stay away from this company, they are no good!!!

Hello,

Technically i think the tools and MT4 integration are good. It is fast, reliable, and i manage to take funds 2 times (very small in comparison of what I deposit). If you refuse all their calls, it might be good for you?

How it started: I have been lured by an add on a Facebook that were really looking like a scam (be millionaire with a forex robot). I decided to give a try knowing the potential danger. I end up getting contacted by ETFinance to setup a forex account. I was sceptic and did some review. But it looked quite legit. They used to have FCA protection. So i gave a try.
What had alerted me in the first place is their love for phone calls. How can they pay those guys to call me for hours? It means they got big funds for "marketing". My other, Binkbank, never called me in 10 years.
Then I started to use the standard account, but the customer service pushed me relentlessly to open the professional account. They were so pushy and showing me the opportunity i was missing, that i end up funding the account by chunk of thousands. In end up loosing more than 14000 GBP.
In the beginning i had luck and win around 15 K. Then Friday night (all my position were closed) customer service call me again to push me to open trades. I was reluctant, I wanted to have a good weekend. Nevertheless I was tired and fell for it. I open 6.5 lots on RBOB-APR20 and some diversification. But in a matter of hours (dinner time) I lost the 15 K i won during the week. (no more margin).
As well, what i did not like with this broker is that they push you top open position without stop loss, so that the price action can live his life before hitting your target. Highly dangerous give the lot size they recommend.
Their technic: they call you relentlessly and share their screen and show you opportunities, makes calculation on houw much you could win and ask you to deposit more in order to play with the leverage and win big. But in the end I loose everything....
Anyway, they are stopping business with UK customer on the 4th of June.
Hope that review can be helpfull.

My review is quite banal, but I decided to write it because many people are interested now in trading with this broker.
1. Is ETFinance a regulated broker? Yes, the information on the broker's website and the CySEC website confirms it. The broker is fully licensed.
2. How good are the account conditions? There are three different accounts in total. The most initial one is Silver. I trade with Gold, because spreads are much more favorable there. There are about 800 assets available.
3. A broker provides a personal account manager. The manager is professional and can help with advice. It is true that sometimes the manager is demonstrating lack of flexibility in regard of the trading methods, but I take it with understanding.
4. Withdrawal of funds is quite fast - takes about 2-3 days, there are no commissions.
In general, ETFinance is good and, what's important, offers really good trading conditions.

The broker has got many awards and it’s fully legal. Trading conditions are very favorable compared to similar CFD brokers. These are the main advantages.
The minimum deposit is 250 euros - reasonable enough imo.
Verification process took several days. Registration is instant, but it takes time to verify the customer’s identity (required by all the legal brokers). Trading experience is good, no complaints.
Thumbs up!

I’ve been trading here for several months already and had a chance to withdraw some profits already. So generally I’m satisfied with the experience. There are enough assets presented, both traditional and exclusive. Spreads are narrow + 0 commissions, which pleases me the most.
The demo is only available for 7 days but can be prolonged upon request. This is the disadvantage in my opinion. 7 days is enough only if you’ve got some experience with MT platform already. I did have such an experience so this was not a problem for me.
Proper regulations is definitely a huge plus to the choice of this particular broker.

I had a lot of doubts and even wanted to register an account with an unregulated broker first. The reason is that regulated brokers have to apply leverage caps, so any european legal broker must not provide the leverage above 1:30 to its retail traders.
Yet, after opening a demo account here and trading for a little while, I understood that I actually don’t need more leverage for discrete trading. I can’t manage over 5 simultaneous positions anyway, and my $500 account multiplied by 1:30 lever is enough to trade with no worries. Yet, I have to warn that I always apply stop loss orders and don’t allow any significant drawdowns to happen to my account.
The broker provides excellent executions and connection with MT4. Was also nice to find exclusive ETFs among the assets they allow to trade. I’ve always wanted to know how it feels to be the owner of Cannabis industry, LOL. Finally DONE :P

My experience with the broker is positive. I know CFDs trading has its risks, yet for me it’s just a business risk that my offline business also bears. The unlimited opportunities for scaling the trading results is definitely worth it.
This broker was chosen because it’s regulated by a respectful EU authority, they charge spreads only and there are no extra commissions, including those on withdrawals. Spreads are rather tight and that’s the most important thing that matters in daytrading.

Avoid this company at any cost.
Very dangerous scammers with a big army of Ukrainian callers from Kyiv.

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.