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Is ETFinance a scam broker?

Overview

ETFinance is a regulated and licensed Cyprus-based forex broker, authorized by the Cyprus Securities and Exchange Commission (CySEC). The brokerage is owned and operated by Magnum FX, a company based in Cyprus. ETFinance offers its customers a wide range of trading options, including forex, shares, commodities and indices, CFT’s and cryptocurrencies. In this article, we’ll uncover the facts about whether ETFinance is a legit or a scam broker.

About ETFinance

The brokerage firm offers its customers three different types of trading accounts, including Silver, Gold, and Platinum.

If you are just a beginner level trader, then you can go for the Silver plan, which offers customers a total of 750 assets, 1:30 leverage, and a minimum of 0.07 spreads. Another highlight of this forex broker is that they provide an exclusive Islamic account for people believing in the Islamic faith. In this account, there is no interest levied on all transactions, and there is no time limit on holding your trade positions.

The gold account offers customers with a dedicated account manager along with maximum leverage of 1:30 and 0.05 minimum spread. The Gold account holders also can enjoy the benefits of watching various webinars and videos on trading in the forex market.

Serious trading professionals can opt for the Platinum account that provides a 50% swap discount. 0.03 minimum spread along with news alerts and free VPS features.

The forex broker firm provides its customers with three different trading platforms, including Webtrader, Metatrader4, and Mobile app trading. Of all the three, the Webtrader is the best option and is a web-based trading method. The trading interface is easy to use and intuitive and offers its customers a diverse range of technical indicators along with various trading tools and utilities. People who wish to trade while on the move can opt for the mobile trading option and professional traders can go for the MetraTrader4 platform.

Is ETFinance Legit or Scam

ETFinance is a regulated broker, and seeing that the brokerage firm has just signed up a deal with Real Madrid Basketball team, things look bright for the firm as of now. Remember these golden words, “All that glitter is not gold”. Beware, watch, analyze and then invest. Even though the firm is being supervised and regulated by CySEC, you need to careful out there when it comes to investing your money. While we cannot say that ETFinance is a scam, but still we ask our users to be careful when investing their hard-earned money.