4.5/5

81% of retail CFD accounts lose money

    Available Countries
  • Netherlands, Finland, Sweden, Denmark, Norway, Iceland, Germany, Austria, Switzerland, Spain, Portugal, Italy, Scandinavia (Show More)
  • Deposit Methods
  • Credit Card, Debit Card, Bank Transfer (Show More)
  • Cryptocurrency CFDs
    Platform Type
  • CFD Trading Platform (CFD)
  • CFD Instruments
  • Crypto, Indices, Forex, Commodities, Shares, ETFs
Margin Trading
  • Yes
  • Built In Wallet
  • No
  • Compensation Scheme
  • No
  • Regulated
  • Yes
  • Minimum Deposit
  • €215
  • Deposit Fees
  • Free (Show More)
  • Withdrawal Fees
  • Free, A €50 fee might be charged for inactive accounts (Show More)
  • Trading Fees
  • Spreads starting at 0.03 (Show More)
  • Limits
  • Varies (Show More)
  • Verification
  • KYC Verification (Show More)
  • Jump to page contents

    ETFinance Platform Review

    ETFinance is an online CFD broker which offers trading opportunities in a variety of markets. Based in Cyprus, the platform is owned and operated by MAGNUM FX (CYPRUS) LTD, a company which is authorized and regulated by the Cyprus Securities and Exchange Commission (the “CySEC”).

    How does ETFinance compare to other exchanges?

    • ETFinance
    • eToro
    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, ETFs
    • Min Deposit
    • €215
    • Fees
    • Spreads starting at 0.03
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    81% of retail CFD accounts lose money

    ETFinance Review
    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 5/5
    • Best For
    • Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • Varies $50
    • Fees
    • Varies, 0.75% Spread for BTC & 1.9% Spread for ETH
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Cryptocurrency, Paypal

    Your capital is at risk

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares
    • Min Deposit
    • Varies 29 EUR/GBP/USD (once), 100 EUR/GBP/USD (for subsequent deposits)
    • Fees
    • Free, Varies, Floating spread, Swap fee, Conversion fee
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • Varies €100/$100/£100 for credit cards & €/$/£500 for wire transfers
    • Fees
    • Varies, A spread fee of 0.6% applies on BTCEUR market
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • Varies Bitcoin - 0.0002 BTC Bitcoin Cash - 0.006 BCH Litecoin - 0.03 LTC Ethereum - 0.01 ETH XRP - 7 XRP Tether - 1 USDT
    • Fees
    • Varies
    • Deposit Methods
    • Credit Card, Debit Card, Cryptocurrency
    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares
    • Min Deposit
    • Varies between $250 to $300 depending on account type
    • Fees
    • Main fees are spreads, as low as 0.03 pips
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • €100 for credit card deposits.
    • Fees
    • Varies, A spread fee from 0.56% up to 3.28% applies
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Paypal

    76.4% of retail CFD accounts lose money

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, ETFs
    • Min Deposit
    • 250 EUR/USD/GBP
    • Fees
    • Varies, No overnight or maintenance fees
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Paypal

    Your capital is at risk

    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4/5
    • Best For
    • Advanced Beginners, Experts, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • None
    • Fees
    • Free, Varies, 0.0% Maker & 0.07% Taker Model
    • Deposit Methods
    • Cryptocurrency
    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • Varies €10 / $10 / £10
    • Fees
    • Varies
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Paypal

    Your capital is at risk

    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • None
    • Fees
    • Starting from Maker @ 0.16% & Taker @ 0.25%
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Cryptocurrency
    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4.5/5
    • Best For
    • Advanced Beginners, Experts, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • None
    • Fees
    • Varies, 0.075% taker fee, 0.025% rebate for makers
    • Deposit Methods
    • Cryptocurrency
    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities
    • Min Deposit
    • Varies $100
    • Fees
    • Free, Variable Spread , Swap
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    This ETFinance review will cover all the important aspects of the platform, providing you with the necessary details to make an informed decision.

    It is important to understand that CFDs are complex and high-risk financial instruments. When trading CFDs, there is a higher chance that traders lose money rapidly, due to leverage. 81% of retail investor accounts lose money when trading CFDs with ETFinance. You should ensure that you understand how CFDs work and be able to afford any potential losses before investing in such instruments.

    ETFinance Trading Platform Review - Landing Page
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Your capital is at risk

    Is ETFinance Safe?

    ETFinance is regulated under CySEC, and this means that ETFinance under constant supervision by the Cyprus Securities and Exchange Commission regulatory bodies, therefore making ETFinance a safe trading platform.

    ETFinance Trading Platform

    ETFinance offers three different trading platforms which cater to different needs of different traders. The WebTrader platform is available online and can be accessed from any supported browser. Offering an excellent trading experience, this platform includes a variety of technical indicators and trading options. It features a highly intuitive interface, which you can conveniently get used to through the demo account, which is available for 14 days following account registration.

    If you already have experience using the popular, MetaTrade 4 platform, ETFinance gives you the opportunity to continue using it whilst trading on its terms. Available on both desktop and mobile, the MT4 platform offers a wide range of charting and analysis tools, as well as convenient trading options, such as auto trading.

    The third trading platform provided by ETFinance is the mobile trading application, which is available to both Android and iOS users. Free to use, the mobile app provides an engaging user experience which gives you the opportunity to trade conveniently on the go.

    All three trading platforms give you the opportunity to trade a variety of Contracts for Difference (CFDs). These financial instruments provide traders with an opportunity to profit from an asset’s price movements without needing to directly purchase the asset. As a result, trades can be placed faster and there is no need to store the asset securely until it is sold. Further information on these instruments can be found on our in-depth CFD guide.

    ETFinance Mobile Trader
    Screenshots are shown for illustration purposes only. Actual product may vary.

    In addition to trading CFDs in cryptocurrencies, commodities and forex, ETFinance also gives you the opportunity to trade forex, a variety of stocks, ETFs and a number of commodities. By using one of the three trading platforms offered by the broker, you can trade all of these instruments and markets directly.

    ETFinance Platform Wallet

    Since ETFinance does not let users buy or sell cryptocurrencies directly, it does not offer a cryptocurrency wallet. The platform can only accept traditional fiat currencies, such as EUR and GBP, which it stores in segregated accounts in banks or financial institutions. Whenever you open or close a trading position, the funds are taken or deposited into this wallet.

    Your capital is at risk

    ETFinance Platform Account

    The current ETFinance website is not very easy to navigate, and finding information can be quite difficult. This is disappointing, as it gives a poor first impression to new users. Finding trading fees for any market is also very difficult, with no FAQ page or help centre to assist you. In order to get information regarding payment methods and fees which are applicable to your own profile, you will need to open and verify an account.

    The platform lets you open one of three possible accounts, namely Silver, Gold and Platinum. Each account is designed for a different type of trader and features different options and tools.

    ETFinance Account Tiers
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Creating a new ETFinance account is a straightforward process. Since the platform is regulated, it needs to fulfil certain Know Your Customer (KYC) criteria. This means that in order to verify your account you will need to submit different forms of documentation.

    How to Sign Up on ETFinance Trading Platform

    ETFinance Sign Up
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To open a new account on ETFinance, all you need to do is:

    1. Visit the website and click on the ‘Open account >>’ button in the middle of the page.
    2. Enter the required information relating to your account, including your name, email, and mobile number. Click ‘Continue’.
    3. Enter your residency address and your date of birth. Click ‘Continue’
    4. The address verification pop up will appear. Double-check that your address is correct and click ‘Proceed’. Otherwise, click ‘Change Address’ to make amendments.
    5. Answer in the three-page questionnaire, which is part of the platforms KYC procedure. Click ‘Continue’ to progress through each page.
    6. Upload the ‘Proof of identity’ and the ‘Proof of residence’ documents. Click ‘Continue’.
    7. Select your preferred payment method and follow the on-screen instructions to make your first deposit.

    Once you have completed the sign up process you should receive an email address from the ETFinance team asking you to verify your email by clicking on a link.

    How to Login on ETFinance

    ETFinance Log In
    Screenshots are shown for illustration purposes only. Actual product may vary.

    You can log into your ETFinance account at any time by following these steps:

    1. Visit the website and click on the ‘Sign In’ button at the top right-hand corner of the screen.
    2. Enter your email and password and click on the ‘Log In’ button.
    3. If you have forgotten your password, click on the ‘Forgot Password?’ link and follow the instructions to reset it.

    Verification Requirements

    ETFinance requires that all users submit identification and residency documents in order to verify their account. This practice helps ensure that all users on the platform are genuine, lowering the risk of fraudsters. In order to verify your account you will need to upload:

    • Proof of identity – such as government ID, driving licence or passport
    • Proof of residency  – such as bank statement, residence certificate or utility bill
    • Payment document – such as credit card copy or declaration of deposit

    The ETFinance team endeavours to check the documents and verify successful accounts within 2 business days. However, during busier periods, it may take longer.

    How to Buy Bitcoin CFDs with ETFinance

    Buying Bitcoin CFDs on ETFinance is easy and intuitive, no matter which trading platform you opt to use. Whilst specific instructions vary depending on which of the three platforms you choose to use, you would normally follow these steps to buy Bitcoin CFDs:

    1. Click on the Market Watch window and select BTC. By clicking on it, its respective chart will be shown on the adjacent window.
    2. Click on ‘New Order’ and enter the required information. This includes setting the ‘Stop Loss’ and ‘Take Profit’ automatic limits, which can protect you from losing a substantial portion of your capital if the price suddenly changes direction.
    3. To place your order, click on either the ‘Sell’ button to short sell your Bitcoin CFDs or ‘Buy’ button to take a long position.

    Your capital is at risk

    It is important to remember that CFDs are complex trading instruments which come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. Hence, you should consider whether or not you fully understand how CFDs work and make an informed decision on whether you are willing to take the high risk of a substantial loss.

    How to Cash Out on ETFinance

    When you are ready to cash out on ETFinance, all you need to do to close an open position is:

    1. Click on the ‘Trade’ tab on the trading platform.
    2. Find the open trade and right-click on it.
    3. From the drop-down menu which appears, select ‘Close Order’.
    4. Click on ‘Close’ to cash out.

    With your position closed, funds are transferred into your account and can be transferred to your bank account via bank transfer or an alternative method. The only applicable cost of closing a position is the respective spread.

    Supported Cryptocurrencies

    As mentioned earlier, the platform does not support cryptocurrency payments and does not let you buy or sell coins like a traditional exchange. Instead, you can use fiat currency to buy and sell cryptocurrency CFDs. The platform offers an extensive selection of cryptocurrency pairs to choose from, as illustrated by the following screenshots.

    ETFinance Crypto CFDs - part 1

    ETFinance Crypto CFDs - part 2
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Supported Countries

    In order to open and verify an account with ETFinance, you need to reside within a supported country. Due to the financial instruments offered on the platform, certain restrictions apply.

    Supported

    ETFinance supports users from Europe only. Whilst there isn’t a comprehensive list of supported countries on the platform’s website, you can check whether your country is supported during the initial sign up stage.

    Your capital is at risk

    Excluded

    There are very few countries which are excluded from the platform, with the most prominent being the United States of America, UK and Belgium.

    Platform Fees & Limits

    Fees

    ETFinance boasts about the fact that it does not charge any commission fees, whether users are trading cryptocurrency CFDs or any other market supported by the platform. The company’s fee structure is fairly simple, however, it is not readily accessible, especially for non-registered users. Here is a guide to help you understand the platform’s fees:

    • Spread – is the difference between the buy and sell price of an asset. This cost is realised each time you open and close a trade. Cryptocurrency CFDs are subject to a floating spread with a minimum value of 0.03 pips.
    • Currency Conversion – any funds denominated in a currency other than the base currency of your account, will be converted to the base currency of your account and a currency conversion fee will be charged to your account. This fee varies based on currency fluctuations.
    • Daily Holding Cost – a fee (SWAP) is charged to your account for every night that your position is held. This means the longer you hold a position, the more it will cost you.

    Unlike many of its competitors, ETFinance does not charge any deposit or withdrawal fees, except in the case of inactive or rarely-used accounts. Similarly, there are no charges for payments via credit or debit cards or bank transfers. However, the bank may charge you a fee for such transfers.

    Limits

    Every currency pair is subject to trading limits which are shown in the order confirmation box. Due to the platform’s strict licensing conditions, you need to wait for your account to be verified before opening any positions.

    When making deposits ETFinance requires a minimum value of €215 deposited, no matter the payment method. Maximum deposits vary by method. Generally, limits depend on the payment method and payment provider used. For wire transfer and credit cards, there is no limit except for the client’s own account or card limits, and the minimum withdrawal amount is €50.

    Supported Payment Methods

    ETFinance supports a variety of convenient payment methods to facilitate transfers in a safe and secure environment. Depending on your country of residence you can avail from:

    • Debit and credit cards – such as Visa and MasterCard
    • eWallets – such as Neteller and Skrill
    • Bank transfers – such as SEPA, SWIFT, and Trustly

    For each supported payment method, ETFinance will provide you with the applicable minimum and maximum deposit limits.

    It is important to remember that CFDs are complex trading instruments which come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. Hence, you should consider whether or not you fully understand how CFDs work and make an informed decision on whether you are willing to take the high risk of a substantial loss.

    ETFinance Security

    ETFinance takes its security responsibilities very seriously and implements several measures to protect user details and funds. All accounts on the platform must be secured by a password which can be up to 12 characters long. In addition, user funds are protected under the Investor Compensation Scheme (ICF), should the company become insolvent.

    ETFinance Customer Support

    It is difficult to get an understanding of the platform’s customer support since the broker is relatively new and reviews are fairly limited. What is certain is that ETFinance provides users who open a Gold or a Platinum account with a dedicated account manager to support their needs. Traders in the Silver tier can make use of a live chat function which is available between 07.00 – 19.00 GMT, Monday to Friday. Alternatively, as a registered user, you can submit a ticket directly through your user interface.

    ETFinance - Submit a Ticket
    Screenshots are shown for illustration purposes only. Actual product may vary.

    ETFinance provides a variety of video tutorials and educational support to make the most out of your trading experience.

    ETFinance Coming Soon Features

    The platform has not yet announced any upcoming releases and does not currently promote a blog. You can be amongst the first to find out about any platform news by becoming a fan of the platform on its social media pages.

    Top Competitors

    ETFinance vs. eToro

    Both ETFinance and eToro offer a variety of cryptocurrency CFDs and other financial instruments, but only eToro lets you buy actual digital coins, including Bitcoin. The eToro platform features a convenient CopyTrader tool which lets anyone automatically copy trades done by successful traders, giving even traders with no experience an opportunity to turn a profit. Whilst eToro charges a fixed withdrawal fee, ETFinance does not, however the former provides a much more user-friendly and clear fee structure.

    ETFinance vs. Plus500

    Plus500 specialises in offering Contracts for Difference, whilst ETFinance offers a wider variety of financial instruments. Both platforms charge variable spreads with no commissions, however only Plus500 offers a clear and well-structured fee system. Plus500 accepts smaller deposits than ETFinance and lets users access the demo account anytime, not just for the first 14 days. ETFinance and Plus500 are both regulated and part of the Investor Compensation Scheme.

    ETFinance vs. IQ Option

    Both platforms offer similar markets and financial instruments, with IQ Option accepting significantly lower minimum deposits and lets users pay with PayPal. In addition, IQ Option offers 24/7 customer support and access to a free demo account at any time, unlike ETFinance which imposes a 14-day limit on this product.

    Conclusion

    ETFinance is a relatively new brokerage platform. However, it has already shown to be worthy of investors’ attention, having won an award itself and having also partnered with an award-winning trading platform. Traders can look forward to accessing a variety of markets through several financial instruments. This is all available with some of the lowest fees in the industry.

    Your capital is at risk

    Is there a mobile app for ETFinance?

    Yes, ETFinance offers an Android and iOS mobile app.

    Does ETFinance use auto trading?

    Yes, it does support auto trading.

    What trading platforms does ETFinance make use of?

    You can trade on ETFinance using its Webtrader, MetaTrader 4 or Mobile App

    Does ETFinance charge hidden fees?

    According to the website, the platform does not charge any hidden fees.

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