- Available Countries
- United Kingdom, 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
- CFD Trading Platform (CFD) CFD Instruments
- Crypto, Indices, Forex, Commodities, Shares, ETFs
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ETFinance Platform Review
ETFinance, operating as an online CFD broker, offers diverse market trading capabilities. Originally based in Cyprus and managed by MAGNUM FX (CYPRUS) LTD, it was initially under the regulation and authorization of the Cyprus Securities and Exchange Commission (CySEC), but this status has since been revoked, leaving the platform unregulated.
How Does ETFinance Measure Up Against 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
(Comparing 1 of 10)
- Type
- Centralized Exchange (CEX)
- Rating
- 5/5
- Best For
- Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
- Instruments Only available in the US
- Min Deposit
- Varies $50 for some countries
- Fees
- Varies, 0.75% Spread for BTC & 1.9% Spread for ETH
- Deposit Methods
- Credit Card, Debit Card, Bank Transfer, Cryptocurrency, Paypal
This advertisement endorses cryptocurrency trading within the EU through eToro Europe Ltd. and eToro UK Ltd., and within the USA through eToro USA LLC. Note that cryptocurrencies are subject to significant price fluctuations, and their trading is unregulated in certain EU states and the UK, lacking EU consumer protection measures. Market risks include potential principal loss.
(Comparing 2 of 10)
- 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 Credit cards incur €100/$100/£100 fees, while wire transfers require €/$/£500.
- Fees
- Varies, A spread fee of 0.6% applies on BTCEUR market
- Deposit Methods
- Credit Card, Debit Card, Bank Transfer
(Comparing 3 of 10)
- Type
- CFD Trading Platform (CFD)
- Rating
- 4.5/5
- Best For
- Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
- Instruments
- Indices, Forex, Commodities, Shares
- Min Deposit
- Varies Fees are set at 29 EUR/GBP/USD for initial transactions and 100 EUR/GBP/USD for subsequent deposits.
- Fees
- Free, Varies, Expect a floating spread along with swap and conversion fees.
- Deposit Methods
- Credit Card, Debit Card, Bank Transfer
(Comparing 4 of 10)
- 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
(Comparing 5 of 10)
- 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
(Comparing 6 of 10)
- 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
- Amounts vary between $250 and $300 depending on the account category.
- Fees
- Main fees are spreads, as low as 0.03 pips
- Deposit Methods
- Credit Card, Debit Card, Bank Transfer
(Comparing 7 of 10)
- 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
(Comparing 8 of 10)
- Type
- Centralized Exchange (CEX)
- Rating
- 4.5/5
- Best For
- Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
- Instruments
- Cryptocurrencies
- Min Deposit
- $60 or €53
- Fees
- A 5.9% fee per trade, plus an additional 5% on credit/debit card purchases.
- Deposit Methods
- Credit Card, Debit Card, Bank Transfer
(Comparing 9 of 10)
- Type
- Centralized Exchange (CEX)
- Rating
- 4.5/5
- Best For
- Advanced Beginners, Experts, Long Term Investors, Short Term Trading, Day Trading
- Instruments
- Cryptocurrencies
- Min Deposit
- None
- Fees
- Maker @ 0.1% & Taker @ 0.1%
- Deposit Methods
- Credit Card, Debit Card, Cryptocurrency
(Comparing 10 of 10)
- Type
- CFD Trading Platform (CFD)
- Rating
- 4.5/5
- Best For
- Newcomers, Advanced Beginners, Experts, Short Term Trading
- Instruments
- Crypto, Indices, Forex, Commodities, Shares
- Min Deposit
- Varies $360 fee applies for European accounts, whereas non-European accounts are charged $50.
- Fees
- Varies, Floating spread free on cryptos
- Deposit Methods
- Credit Card, Debit Card, Bank Transfer
This review of ETFinance will examine all major facets of the platform, equipping you with essential information to make informed trading decisions.
CFDs are intricate and high-risk financial products, often leading to rapid financial losses due to leverage. Notably, 81% of retail investors who trade CFDs with ETFinance experience financial losses. It's paramount that you comprehend the workings of CFDs and assess your preparedness to bear potential losses prior to investing in them.
Is ETFinance Safe?
With ETFinance's license retracted, we cannot endorse its services to our audience.
ETFinance Trading Platform
ETFinance caters to a wide variety of traders with three distinct trading platforms. The WebTrader platform is accessible online from any compatible browser, promising a premium trading experience with numerous trading features. Its interface is highly user-friendly, and newcomers can familiarize themselves with it through a demo account available for a 14-day trial post-account registration. technical indicators Experienced MetaTrader 4 users can seamlessly transition to ETFinance, where you can continue leveraging the platform's comprehensive charting and analysis tools both on desktop and mobile. Auto trading features further enhance trading flexibility.
The third trading resource offered by ETFinance is the mobile application, free for users. It ensures a captivating trading experience, enabling traders to engage with the market while on the move.
All platforms enable trading in a variety of Contracts for Difference (CFDs). These instruments allow traders to profit from market fluctuations without owning the underlying assets, facilitating quicker transactions and sidestepping secure storage needs. Android and iOS Beyond cryptocurrency, commodities, and forex CFDs, ETFinance users can also explore forex, stock, ETF, and commodity markets via any of the broker's trading platforms.
Without direct cryptocurrency purchasing or selling capabilities, ETFinance does not provide a digital currency wallet. Instead, it exclusively accepts fiat currencies like EUR and GBP, maintaining funds in isolated accounts at financial institutions, used when opening or closing trades. our in-depth CFD guide .
Navigating the ETFinance website proves challenging, complicating information retrieval and dampening first impressions for new users. Accessing trading fees is notably cumbersome without an FAQ or help center, requiring account creation and verification for personalized payment and fee disclosures.
ETFinance Platform Wallet
You can select from three account types—Silver, Gold, and Platinum, each offering unique tools and trader-specific functionality.
ETFinance Platform Account
Setting up an ETFinance account is a straightforward affair, adhering to regulatory Know Your Customer (KYC) protocols, which mandate submission of specific documentation for account verification.
Step-by-Step Guide to Enrolling with ETFinance
Here’s how to kickstart your ETFinance account:
Visit the platform's website and select the ‘Open account >>’ option prominently displayed.
Fill in essential account details, including your name, email, and mobile number, then hit ‘Continue’.
- Provide your residency information and birth date, followed by ‘Continue’.
- Upon inputting your address, a verification prompt will appear. Confirm or amend as necessary.
- Complete the KYC questionnaire across three pages, then continue onward.
- Upload ‘Proof of identity’ and ‘Proof of residence’ documents, before clicking ‘Continue’.
- Determine your preferred payment method and follow the ensuing steps for your initial deposit.
- Conclude the sign-up by verifying your email through an email from ETFinance featuring a confirmation link.
- To access your ETFinance account anytime, follow these steps:
Navigate to the website, selecting the ‘Sign In’ icon located at the screen's upper right corner.
How to Login on ETFinance
Input your credentials—email and password—and click ‘Log In’.
- Lost your password? Click ‘Forgot Password?’ and adhere to instructions for reset.
- Verification on ETFinance demands submission of identification and residential documents from all users, a process designed to authenticate genuine account holders and mitigate fraud risk. For account validation, provide:
- Proof of Identity — accepted forms include government-issued ID, driving license, or passport.
Verification Requirements
Proof of Residence — documents like bank statements, residence certificates, or utility bills are valid.
- Payment Documentation — entails items like credit card copies or deposit declarations.
- The ETFinance team strives to complete document checks and approve accounts promptly within two business days, though this may extend during peak periods.
- Steps to Purchasing Bitcoin CFDs Using ETFinance
Purchasing Bitcoin CFDs with ETFinance is a seamless process on any platform. Specific instructions may vary slightly, but generally involve the following steps for Bitcoin CFD acquisition:
Access the Market Watch window and locate BTC. Click to view its chart displayed in the adjacent window.
Opt for ‘New Order,’ completing necessary details such as ‘Stop Loss’ and ‘Take Profit’ to safeguard against significant losses from abrupt price shifts.
- Execute your order by choosing either ‘Sell’ to short or ‘Buy’ to take a long position on Bitcoin CFDs.
- Always bear in mind that CFDs are complex products with inherent risks of rapid financial loss due to leverage. 81% of retail clients trading CFDs with this provider lose money. Carefully assess your understanding of CFDs and risk tolerance before proceeding.
- When it’s time to exit a position on ETFinance, simply follow these steps:
Access the ‘Trade’ tab within your trading platform.
How to Cash Out on ETFinance
Locate your open position, right-click to reveal a menu.
- Choose ‘Close Order’ from the dropdown options.
- Successfully closed positions allow fund transfer back to your account, available for withdrawal via bank or other methods. Note that closing incurs only the spread.
- The platform refrains from supporting direct cryptocurrency transactions or traditional coin exchanges. Instead, fiat currency can be used for cryptocurrency CFD trading, with a wide array of crypto pair options available, as outlined in the included visual guides.
- Click on ‘Close’ to cash out.
Eligibility for ETFinance accounts hinges on residency within supported countries, noting that certain restrictions accompany the financial instruments accessible via the platform.
Supported Cryptocurrencies
Comprehensive Overview of ETFinance Trading Platform (2021 Edition) at Cryptimi
Supported Countries
ETFinance has established itself as a leading CFD brokerage, garnering accolades for providing a stable and secure trading environment. Discover all the details in our extensive review here!
Supported
This advertisement endorses cryptocurrency trading within the EU via eToro Europe Ltd. and eToro UK Ltd., as well as in the USA through eToro USA LLC. Please be aware of the high volatility and lack of regulation in certain EU countries and the UK, resulting in no consumer protection within the EU. All trading carries market risks, including potential loss of principal.
Excluded
Exploring the Nuances of The Cryptocurrency Market
Platform Fees & Limits
Fees
Mastering Cryptocurrency Investments: Chapter 6 cryptocurrency CFDs Which Trading Platforms Stand Out as the Best?
- A small charge of €50 may be incurred for accounts that remain inactive.
- ETFinance operates as a CFD brokerage offering a multitude of trading opportunities across diverse markets. Based in Cyprus and managed by MAGNUM FX (CYPRUS) LTD, it was once authorized by Cyprus Securities and Exchange Commission (CySEC). However, the platform has since had its license withdrawn and thus no longer operates under regulation.
- How Does ETFinance Stack Up Against Other Trading Exchanges?
Deposits require a minimum of €100/$100/£100 by card, while wire transfers necessitate €/$/£500.
Limits
An initial deposit of 29 EUR/GBP/USD is required, followed by a sum of 100 EUR/GBP/USD for future deposits.
Trading involves a floating spread and may include swap and conversion fees.
Supported Payment Methods
Account type dictates a minimum deposit, generally ranging from $250 to $300.
- Transaction fees comprise 5.9% per trade, with an additional 5% for card transactions.
- European accounts are subject to a $360 fee, whereas non-European accounts incur a $50 fee.
- This ETFinance analysis will thoroughly examine the essential components of the service, furnishing you with the details necessary to make an enlightened choice.
It's crucial to realize that CFDs are intricate and can be risky. Leveraging can result in rapid financial losses, as evidenced by 81% of retail investor accounts losing money when trading CFDs with ETFinance. Understanding CFDs and being prepared to absorb potential losses are vital before engaging in such trades.
Access the ‘Trade’ tab within your trading platform.
ETFinance Security
Images presented are purely for demonstrative intentions. Real products may differ.
ETFinance Customer Support
Due to the revocation of ETFinance's license, we urge caution and can no longer advocate for its services.
ETFinance offers a trio of trading platforms tailored to various trader requirements. The WebTrader platform is accessible via any supported web browser and promises a superior trading experience with its sleek features.
ETFinance Coming Soon Features
Its intuitive interface can be seamlessly mastered through a demo account, available for 14 days post-registration.
Top Competitors
ETFinance vs. eToro
For those adept with the MetaTrader 4, ETFinance allows its continued use. The MT4 platform, compatible with both desktop and mobile, is equipped with a rich array of charts and analytical tools, as well as automated trade options.
ETFinance vs. Plus500
Plus500 The third option ETFinance provides is a responsive mobile trading app accessible to all users. The app ensures a seamless trading experience on the move.
ETFinance vs. IQ Option
All included platforms empower you to trade an array of CFDs, allowing you to capitalize on asset price fluctuations without owning the asset itself. This not only expedites trades but also eliminates the need for asset storage. IQ Option Beyond cryptocurrencies, commodities, and forex, ETFinance supports trading in stocks, ETFs, and various commodities, offering a comprehensive array of instruments available through its trio of platforms.
Conclusion
ETFinance doesn't support direct crypto transactions and lacks a cryptocurrency wallet. It's limited to fiat currency deposits like EUR and GBP, securing them in separate institutional accounts. All transactions operate through this wallet.
Navigating the current ETFinance site poses challenges, adversely affecting initial user impressions. Finding relevant fees and other specifics can be notably tedious without a FAQ section or support hub. Users need to register and verify an account to glean pertinent information.
Yes, it does support auto trading.
Setting up an ETFinance account is straightforward, requiring certain KYC verifications to ensure regulatory compliance. Documentation is necessary for account validation.
Steps to Register on the ETFinance Platform
Similar Platform Reviews
This advertisement endorses cryptocurrency trading within the EU through eToro Europe Ltd. and eToro UK Ltd., and within the USA through eToro USA LLC. Note that cryptocurrencies are subject to significant price fluctuations, and their trading is unregulated in certain EU states and the UK, lacking EU consumer protection measures. Market risks include potential principal loss.
Provide your name, email, and phone number, then proceed. CFD Input your address and birth date, then continue.