ETFinance is a European online broker that offers a variety of trading products including forex, commodities, indices, stocks, cryptocurrencies, and ETFs. It has been said by users that the best way to trade on this broker is through a trading robot.
During our in-depth review, we have found user testimonials claiming that ETFinance is a legit and trustworthy broker.
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From the information we have gathered so far, ETFinance appears to be legit. In this review, we’ll cover all the features in-depth and how you can access ETFinance through an auto trading robot such as Bitcoin Era.
Keep on reading if you would like to know more about the broker’s fees, trading platforms, account types, deposits, withdrawals, pros and cons, and more.
What is ETFinance?
ETFinance allows traders to manually trade assets on the financial markets through a connection to liquidity providers. The broker offers a variety of markets and products including stocks, currency pairs, commodities, cryptocurrencies, and ETFs. However, we would like to emphasize the difference between online brokers such as ETFinance and crypto robots such as Bitcoin Trader or Bitcoin Era.
Unlike online CFD brokers that allow traders to manually trade CFDs, crypto automated trading robots claim to use sophisticated trading algorithms that allegedly scan the market and are able to place profitable trades in the market for you.
Crypto robots are not allowed by law to collect deposits and must, therefore, operate through a partner broker. That is the reason why crypto robots like Bitcoin Era transact through regulated brokers. Following our review, we can confirm that ETFinance is a legit and regulated broker. We always recommend traders of all levels to trade on regulated and well-reputed brokers through automated trading robots.
Based on user reviews, we have found that the best way to start trading on ETFinance is through Bitcoin Era.
Click here to start trading on ETFinance via Bitcoin Era.
ETFinance Regulations
ETFinance is a brand name of Magnum FX (Cyprus) Ltd., a leading investment firm, licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 359/18. Being regulated by CySEC ensures that clients’ funds are highly protected in segregated accounts and clients also have a certain level of insurance should the broker go bankrupt.
Magnum FX (Cyprus) Ltd. is authorized to provide its services to EEA counties.
Is ETFinance Legit or Scam?
We can conclude from our review that we do not find ETFinance to be a scam. In fact, the European broker appears to be legit, based on our investigation and user reviews. ETFinance is regulated by the Cyprus Securities and Exchange Commission (CySEC) and complies with GDPR standards, ESMA, and MIiIFD.
The broker offers several features for inexperienced and professional traders. A great educational hub, a variety of tradable assets, solid customer support, and advanced trading tools.
Yet, We must inform you that we have come to the conclusion that the best way to trade on ETFinance is through an automated crypto trading robot such as Bitcoin Era. If you are a beginner trader and have not yet developed sufficient trading skills, trading on ETFinance via Bitcoin Era allows you to fully automate your trading by one click. What this means is that anyone can use this platform without having previous trading background.
Markets/ Instruments
ETFinance offers a great variety of more than 1000 financial assets to choose from including currency pairs, crypto pairs, commodities, indices, and stocks. Take note that even before you signup on this broker, you will be able to see all the tradable assets available.
Trading Platforms
When it comes to trading platforms, ETFinance offers the most popular trading platform in the industry, the MetaTrader4. Metatrader 4 is available as a desktop and mobile application, as well as a web-based trading platform. This means that the broker also offers a mobile application available on Google Play and App Store.
Another great advantage is that ETFinance allows you to trade MT4 as a web-based platform without having to download and install a desktop platform.
How to trade on ETFinance through Bitcoin Era
As we mentioned previously, we recommend trading on ETFinance through Bitcoin Era. Bitcoin Era is an automated trading robot that was designed to analyze the crypto markets and allegedly is able to place profitable orders in the market for you. This robot also claims to have an accuracy rate of 92% and to be able to generate high returns for its users. On this robot, you will only have to adjust the trading settings and the software will immediately start the automated trading.
The registration process is simple and requires three easy steps. Here’s a step-by-step guide on how trade on ETFinance through Bitcoin Era.
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Registration
The first step required is to sign up on Bitcoin Era’s website. Once you enter Bitcoin Era’s website, You’ll see a sign up registration widget. You will then be requested to enter your name, email address, password, and phone number.
Bitcoin Era will redirect you to a regulated broker in your region.
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Deposit
Now that you have completed the registration process, you will be redirected to ETFinance’s website in order to deposit funds and start trading. ETFinance offers a selection of payment methods which include credit card, VPay, MasterCard, Maestro, MasterCard secured code, Neteller, SSL, and Skrill.
Bitcoin Era makes every effort to secure users’ data. The site is secured by BitGo, NortonSecured, Secure Trading and Mcafee.
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Trading
As we previously mentioned, Bitcoin Era’s trading platform is easy to use and requires two basic steps in order to start your automated trading. At this point, you will have to modify the trading settings and activate your auto trading.
You can decide on the leverage ratio, how much you want to risk for each trade, and the crypto pairs you wish to trade on. Whenever you are confident with your trading settings, you can click the “Start Auto Trading” button.
How to sign up on ETFinance directly (not recommended)
Even though it’s recommended to open an account on ETFinance through an automated trading robot such as Bitcoin Era, you can also open an account on ETFinance directly. However, you should be aware that you cannot automate your trading if you decide to open a trading account on ETFinance. Unlike online trading brokers, crypto trading robots use sophisticated trading algorithms powered by leading technologies such as Artificial Intelligence and Machine Learning to scan the entire crypto market and execute market orders automatically. Bitcoin Era is considered by many a top trading robot with a claimed accuracy rate of 92%. To open an account on Bitcoin Era, click here.
Yet, if you still want to open an account on ETFinance directly, you can complete the registration process on the broker’s website, deposit funds and start trading.
Account Types
ETFinance offers three account types – Silver, Gold, and Platinum. Every upgrade provides you with better trading conditions as you can see in the image below. The minimum deposit requirement for the Silver account is $250.
ETFinance also offers the Professional account for experienced traders. With this account, you are eligible for a leverage ratio of 1:500, you can get unlimited market access and a personal account manager.
Leverage
ETFinance offers a leverage ratio of up to 1:30 for retail clients and up to 1:500 for professional traders. The leverage ratio varies depending on the asset classification.
Commissions and Spreads
According to the broker’s website, ETFinance does not charge any hidden fees such as deposit and withdrawal fees and the broker only profits from the spread they charge to traders. Traders at ETFinance can enjoy extremely low spreads from 0.03 pips.
Education and Resources
ETFinance offers unique educational resources that include the economic calendar, earnings calendar, articles, VOD, Ebooks, courses and tutorials. The resources are suitable for beginners, advanced and professional users. The VOD section is outstanding and can help traders to achieve their goals.
For stocks traders, the earnings calendar can be a useful tool. And for those who would like to master their MetaTrader4 skills, the tutorial section provides video tutorials about MT4 functionality. There’s an additional tutorial section of MetaTrader mobile.
Bonuses
At the time of writing, ETFinance does not offer any bonuses or promotions. However, this may change in the future so do keep an eye on this availability.
Customer Support
ETFinance customer support which is available Monday – Friday: 7 to 19 GMT. You can contact ETFinance support team via phone, email, live chat a submit a ticket form.
ETFinance’s website is available in English, Spanish, German, Dutch, Portuguese, and Italian.
ETFinance Pros and Cons
- ETFinance provide MetaTrader4, available as a desktop and mobile application as well as a web-based platform.
- It offers solid customer support via phone, submit a ticket, live chat, and email
- ETFinance is the Cyprus Securities and Exchange Commission (CySEC)
- The broker provides an extensive range of tradable assets.
- ETFinance offers competitive spreads, as low as 0.03 pips
- ETFinance offers an Islamic account for users who wish to apply the principles of Islamic law.
- The broker provides great educational resources
- The broker is authorized to provide its services to EEA counties only
- Currently does not offer a welcome bonus
- Maximum leverage of 1:30 for retail accounts
More robots where you can access ETFinance
You can trade on ETFinance through other automated crypto robots. Find out more about how to use a Bitcoin robot on this page.
Conclusion
There is no doubt that ETFinance is a solid and reliable broker in terms of trading features, safety and security of clients’ funds. It is regulated by the Cyprus Securities and Exchange Commission (CySEC), provides MetaTrader, offers a great variety of more than 1000 financial assets, and a selection of educational resources.
FAQs
Is ETFinance a scam?
No. From our investigation and our in-depth review, we can ascertain that ETFinance appears as a legit online trading broker. The broker is regulated by CySEC and follows the restrictions of the ESMA and MiFID.
How do I open an account with ETFinance?
To open an account on ETFinance you will have to sign up on the broker's homepage. Another option is to open a trading account on Bitcoin Era, an automated trading robot, that links your trading account to ETFinance.
Is ETFinance an auto trading robot?
No, ETFinance is not an auto trading robot. ETFinance is an online CFD broker that allows you to trade in Forex, CFDs, commodities, indices, stocks and more. Auto trading crypto robots, on the contrary, are designed to allow you to modify your trading settings and the bot will allegedly place profitable trades for you, without requiring you to manually trade the market.
How much is the minimum deposit?
The minimum deposit requirement at ETFinance depends on the account type. The broker offers three account types, and the minimum deposit requirement for the Silver account is $250.
Is there a mobile app?
Yes, ETFinance provides a mobile application. The broker provides MetaTrader 4 which is available as a desktop and mobile application and a web-based trading platform. The app is compatible with all mobile devices including Android, iPhone, and iPad and is completely free of charge.
