- Types of accounts
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ETFinance was founded in 2016 and is a Cyprus registered financial investment company that technically provides trading opportunities to clients from the EU and beyond. Broker ETFinance is the official sponsor of the Spanish basketball club Real Madrid.
What type of broker is ETFinance?
ETFinance is an STP Forex broker that also adheres to high standards of safe trading in accordance with established rules.
Broker ETFinance is a trade name MAGNUM FX (CYPRUS) LTD with registration number HE 360548, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 359/18. In simple terms, this means that the broker is legal and fully authorized to offer their brokerage services in Cyprus, the EU and beyond due to cross-border registrations.
Client protection includes segregating funds, applying negative balance protection and participating in a compensation scheme in the event of a broker's insolvency.
ETFinance, being a Cyprus and EU regulated broker, operates under ESMA restrictions and therefore offers lower leverage levels.
Leverage for retail traders is a maximum of 1:30 for major currency pairs and 1:10 for commodities. Professional traders can access high leverage up to 1: 400 or 1: 500 upon status confirmation.
ETFinance Trading Accounts
There are three types of accounts in ETFinance - Silver, Gold and Platinum, which are intended for beginners and experienced traders.
In addition, if you are a Sharia trader, you can apply for an Islamic account and trade under the conditions established by law, no swap, no high leverage, etc.
The market assortment offers you the most requested and popular instruments, so with ETFinance you will definitely choose the right asset to trade. In total, there are over 750 assets on offer including Forex currencies, metals, energy, commodities including cocoa and coffee, indices and a large selection of cryptocurrencies.
Typically, the minimum deposit is $ 250, which allows you to open a Silver account. A higher tier account will require more money as it is intended for experienced traders.
Overall, ETFinance is a Forex broker with a quality trading strategy that offers flexibility in terms of trading conditions, platforms and instruments. Another good point is that ETFinance is regulated by the European organization CySEC under the MiFID directive, which means that the company is subject to safeguards and is classified as a regulated broker.
Thus, ETfinance is the broker to consider when choosing a reliable trading partner. However, it is always great to hear your personal opinion about ETFinance. So you can share your experience and read ETFinance reviews.
- The year of Foundation 2016
- Head office address 1 Agias Fylaxeos Street, 2nd Floor - Office 1, 3025 Limassol, Cyprus
- Maximum leverage 1:500
- Min. Deposit $250
- Regulation CySEC
- Trading platform
- Payment system to enter Bank Transfers, Debit/Credit Cards , Skrill
- Payment system for withdrawal Bank Transfers, Debit/Credit Cards , Skrill
- Number of trading instruments 50
- The number of CFD instruments 700
- The number of metals 4