ETFinance Broker Review


Minimum Deposit
$250
Regulators
CySEC
Market Trade
WebTrader, MT4
EURUSD Spread
Varied
US Traders
No
Platforms
Founded
Country
Cyprus

Based in Cyprus, ETFinance is a broker that has only recently made its way to the market. As a new broker, this means that they have to fight their way to the top and as such, they are attempting to garner custom. By using a business model that includes high-quality services and low prices, ETFinance are aiming to become a big-name broker. While putting together this ETFinance brokerage review, we have looked over everything that ETFinance offer, and are well placed to provide a balanced look at their services.

  • They attempt to offer low prices to clients
  • EU regulated, due to being based in Cyprus
  • There is not much information about them online, since they are a new company

Stock Trading Offer

With over 150 different companies offered as share trade options, ETFinance give customers a good choice when it comes to stock trading. As the largest companies on the market are included within this listing, it means that traders have the ability to trade with more reliable companies if a longer-term trading strategy is to be undertaken.

In addition to the stocks that are on offer to traders, there are also commodities available. This gives traders the ability to diversify their trading portfolio and gain access to a wider range of trading options. When taking into account that traders can also trade with indices, it means that very few people will be asking, is ETFinance good?

In terms of the accounts that are on offer to traders, ETFinance have both a beginner and a professional account. Each account allows for full access to the desktop trading platform and the mobile trading platform. The only real difference is that once traders prove that they are a professional trader, they will be able to gain access to higher leverages on trades.

  • Two accounts are available, which cater to new traders and more experienced traders
  • Traders can trade at ETF in a range of different ways
  • When qualifying for the professional account, a higher leverage amount comes into effect

Stock Exchanges and Trading Centres

When trading at ETFinance, there is a wide range of different choices on offer for traders. The most common stock exchanges that are available to traders come through the indices’ CFDs. As a newer broker, they have ensured that they cover the most popular exchanges, such as the FTSE 100 and Nasdaq 100.

  • The FTSE 100 and Nasdaq 100 are both on offer at ETFinance
  • Other popular exchanges are all available at ETFinance
  • Traders are able to utilise a range of trading strategies

Trading Conditions

When using an ETFinance brokerage account, whether it is the beginner account or the professional account, there are no fees levied by the broker. This means that the only charges that are added on a trade are for spreads, which are kept quite low at ETFinance. This means that overall, ETFinance stock trading is one of the cheapest methods of trading on the market. Traders can trade with an unlimited volume with no commission on trades when using the professional account, so this makes ETFinance one of the best-priced brokers around. This could be due to their position as a newcomer to the market and as such, they want to stand out in order to gain custom.

Both of the accounts at ETFinance, beginner and professional, have no extra charges for usage. This means that ETFinance are not covering their choice to charge zero commissions by charging an account fee. There are also no commissions on financial transactions, no matter which method you decide to use. Overall, ETFinance offer one of the cheapest services around.

  • Zero commissions on trades
  • It is free to open an account at ETFinance
  • No costs to make deposits and withdrawals

Trading Platform

When doing a stock broker comparison, one of the first things that people look at is the platforms that are on offer. ETFinance are one of the competitors to be the best stock broker when it comes to platforms that are on offer. They have three different options in terms of platforms available to their customers. The first and recommended platform for beginner traders is their WebTrader platform. This offers a very quick and easy to use interface, basic but useful analysis charts, and the ability to use a demo account for two weeks. This allows traders a simplified way of trading and the demo account means that new traders can spend some time getting used to the platform before they begin trading for real.

One of the most popular platforms on the market is MetaTrader 4. It is a very popular, industry-leading platform, and ETFinance offer it as one of their platform choices. With a wide range of analytical tools, the ability to customise the layout to your own preferences, and the provision of a basic social trading tool, it is accessible to both beginner and advanced traders.

For traders who want to trade on the go, there are two options on offer. Firstly, MetaTrader 4 has its own mobile app, which can be used to access the ETFinance services and features. This is a slimmed-down and optimised version of the MT4 platform and is as close you can get to MT4 when on the go. There is also an ETFinance app that is created specifically for using the ETFinance features. While it might not be as in-depth as the MT4 app, it is smoother and easier to use. Beginner traders may prefer the ETFinance app, whereas more advanced traders may prefer the MT4 app.

  • An easy to use, browser-based platform is on offer for beginner traders
  • For the more advanced trader, MetaTrader 4 is on offer
  • Mobile users can use both MT4 and the ETFinance mobile app

Usability of the Website

When making your way around the ETFinance website, it is, on the whole, a very simple site to use. It includes all of the relevant navigation portals as a menu at the top of the screen. Each link either takes you directly to the page that you need or opens up a drop-down menu with the different options that are available. These menu choices include both the product list that ETFinance have on offer and all of the relevant legal information for trading with them. This ensures that it is easy to find the most important sections of the site.

When carrying out a broker comparison, most people ignore the design quality of the website. This is an important aspect of a site because some sites require users to view the site for long periods of time. If the site design is unpleasant or causes eyestrain then this may not be possible. Fortunately, ETFinance have ensured that their website is both pleasant to look at and has a colour scheme that is easy on the eye. These work together to ensure that it makes using the site a lot easier for customers.

  • The menu at the top of the site allows for quick navigation
  • The design quality of the site is excellent
  • No eye strain from long periods spent looking at the webpage

Customer Support

The customer support on offer at ETFinance is one of the most difficult areas to summarise. This is because while writing this ETFinance brokerage review, we found that there is very little information available about the quality of their customer service. This is because ETFinance is still a relatively new broker and as such very few people have needed to make use of their customer service portal for a serious issue. However, ETFinance do offer their customers both a live chat and a phone service. The phone service may incur charges depending on where you are based, so make sure that you check on that before you call them. The live chat and phone service is open seven days a week. During the week, it is open from 7am until 7pm GMT and at the weekend, it is open from 8am until 5pm GMT. This means that if you have an issue outside of these hours, you will not be able to get an immediate answer.

You can, however, use their email services to leave an email with them. This does mean that you will have to wait until their services open up the next day in order to get an answer to your query. The email support allows customers to easily give comprehensive details of particular problems and in return, receive a more detailed answer.

  • There are limited operating hours for the customer service at ETFinance
  • Both live chat and telephone services offer instant answers to issues
  • The email support option allows for more in-depth problems to be discussed, but does take longer

Methods of Payment

ETFinance stock trading makes it easy for traders to choose the right method to carry out transactions. Because both traditional methods are covered, it is completely up to the trader which they feel fits them the best. In terms of traditional methods, the usual credit and debit cards are accepted. Visa and Mastercard are both allowed, so the vast majority of cards on the market can be used. There are no fees for making deposits and withdrawals, and all withdrawals are completed within three business days.

Skrill and Neteller are both accepted at ETFinance, which means that e-wallets can also be used. Just like the credit and debit cards, there are no charges levied on deposits and withdrawals, which helps ETFinance keep their overall costs to customers low. Deposits are processed instantly and withdrawals can take up to an hour to process.

Safety is one of the most important factors when carrying out ETFinance stock trading. To achieve optimum security, they use a secure socket layer for all financial transactions. This ensures that all of your deposits and withdrawals are as secure as possible. In terms of speed, e-wallets offer a much faster processing time than credit and debit cards, but in terms of cost, there is no difference between the two methods. Also, there is no limit on the number of transactions you can carry out each month.

  • Skrill and Neteller make up the e-wallet options
  • Mastercard and Visa can be used for credit or debit cards
  • No fees are charged on your transactions

Additional Offers

ETFinance do not have a huge number of extra offers available to customers. This may seem like a negative at first, but when you take into account the fact that they allow their customers to make unlimited trades without any fees, and offer unlimited free deposits and withdrawals, they are already offering quite a lot with just their basic account package. They do still have a few little extras to improve their product, though.

For beginner traders, there is a free, two-week demo account available. This can be accessed by using the WebTrader platform when you initially sign up. While it does not offer the ability to make any free money, it does allow traders who are new to the market to get used to trading without risking any of their money. It also gives them the chance to get used to the platform that they will be using when they finally do start trading. This helps them to make the transition to trading quite quickly.

ETFinance also offer an educational section to customers. This area of their site is not fully completed as yet, as is shown by the “Lorem Ipsum” text that is still at the top of their VOD section. Despite this, they have a series of 12 videos that introduces traders to the different aspects of the market and how it works.

  • Traders already get lower costs at ETFinance
  • A two-week demo account is available to beginner traders
  • An educational zone is available that is currently being worked on

Regulation and Deposit Protection

ETFinance take a great deal of pride in their licencing and regulation. They show a legal menu header right at the top of their page when it first loads up. This is in stark contrast to some other brokers that sometimes make it difficult to find the information that you require. Listed here are the two main regulations that apply to ETFinance customers. The first one is the General Data Protection Regulation, which informs customers exactly how their data can and cannot be used, as well as what their rights are with regard to protection of their data. By electing to fall under the jurisdiction of this regulation, ETFinance show that they are trustworthy when it comes to handling their customers’ data.

The second section under the legal menu is the license and regulations section – this is where ETFinance show that they are regulated by CySEC. This is one of the most well respected regulators within the EU and as such shows that ETFinance are a reputable broker.

  • Easy to find legal information
  • GDPR compliant
  • Regulated by CySEC

Awards

While it may put some people off from ETFinance stock trading, there is actually nothing to worry about when it comes to their lack of awards. Because they are a relatively new broker on the market, they have not yet been able to enter for any of the end of the year awards that the financial websites run. This means that their lack of awards is not due to poor performance but purely because they are not yet eligible for consideration.

Conclusion

Overall, the ETFinance services are very good. They allow traders to carry out trades with relatively low costs. This is due to no commission being charged on trades and no fees being added on to deposits and withdrawals. This helps to keep customers happy, as the lower their costs, the more likely they are to continue using the ETFinance services.

On top of this, they also offer a demo account to beginner traders, which allows them a risk-free environment in which to get used to trading. However, there are some negatives. The customer service is not at the highest level, although as a new broker this is to be expected, as they will improve it as time passes. The education section of the website also is not yet finished, which could put some potential customers off.

Overall, ETFinance are a welcome addition to the trading market. Their intention to keep costs as low as possible can only be a positive for customers and if they continue to improve their services, they could be a contender for best new broker at the year’s end.