Author: Dominic Owens | Last updated: July 2024

ETFinance Review – NOT VERIFIED

ETFinance is not verified anymore from our experts. That’s why we advise you NOT to trade there at that moment! You can choose from our alternative Forex brokers such as IronFX and, or just pick one from our list with the best companies which you can find here!
Reward: N/A
  • Licence:
  • CySEC
  • 359/18
Accepted Payment Methods: VISA, VISA Electron, MasterCard, Skrill, Wire Transfer and more
Min. Deposit: €215
Broker Rating:
  • Reward: 1.0
  • Platform: 1.0
  • Mobile: 1.0
  • Live: 1.0
Overall Score: 1.00/5
Featured Platforms:
  • Webtrader, MT4 and Mobile App
Broker Info
  • Company: Magnum FX Ltd
  • Founded: 2016
  • Headquarters: Cyprus
  • Phone: +357 25359939
  • Email:

For anyone looking to invest their time and their money into Forex trading, many options for you exist that you should definitely take a closer look at. One common example of this is ETFinance, a popular Forex broker who has become a major trading solution for many people. However, with so many other options out there, you might not be 100% sure where you wish to begin. Let’s take a look, then, and work out what you could get if you were willing to invest in using ETFinance to your advantage.

Company History

The company itself has been around for a little while now and is known for being part of the Cypriot brokerage scene. They are a big part of the Cyprus scene and they are managed by Magnum FX Ltd, a leading name within the area. Managed and looked after by the Cyprus Securities and Exchange Commission, this has become a company with a strong reputation within the wider industry.

They have already become a good name for many traders and have won a series of awards in the last few years for that.

Bonus Offers Provided

With a minimum deposit of €215 to get started, this is one of the most generous platforms for those who are looking to get started into Forex. Most ask you for closer to four figures, if not more, but this is a site that makes sure you can get started with relative ease. However, they are not an account provider that gives you any kind of promotions or bonuses. If you are looking for this kind of thing, then you should probably start looking at some of the various other options who are on the market at this moment in time.


As mentioned above, they are regulated by CySEC. Given the Cypriot group is one of the most stringent regulators in the industry, this can only be a good thing. It will help you to know that you are using a site that is regulated and gives you all of the help that you need to get started when you are looking to open up an account. Knowing that you are using an authentic and entirely trustworthy finance broker can be an excellent feeling for you.


They are using some of the most modern platforms at ETFinance, so you can easily get signed up and start trading pretty fast. They provide you with a solid mobile trading interface via their app, but the main platform used is the popular MT4 platform. However, it’s accessible from just about any device and so long as you have a secure connection you can trade more or less anywhere in the world.

If you are used to working with MT4, then you can ignore their other options like WebTrader. Overall, they have some of the most useful platforms that should ensure you can start using their system without too much delay in getting used to their current trading platforms.


In terms of education, you can pick up from a whole host of useful educational tools. They come with a variety of different videos and articles that even veterans of the industry should find useful. The information is useful, informative, and is going to be suitable for helping you get yourself fully to grip with the basic features that you are going to be needing for this platform.

One thing that we would also say is that they provide you with a demo account for up to 14 days, giving you two weeks from the minute that you sign up to start looking around at the various features that they have waiting for you.

On top of that, you can also get some great Video on Demand library solutions that can give you plenty of useful information about how to start trading and seeing some genuinely useful results along the way. For that reason, this is one of the best sites when it comes to making trading easier.


While ETFinance lacks some of the FAQs that we should be expecting from a modern broker, they do have some good assistance. They have live chat, phone, and email support that is available 24/5, so you can usually get the help that you need. Support is often swift to respond and pretty courteous, so you should have no real issues getting any help with the problems you might face. Lines are open until 7PM GMT most days.

Withdrawals and Deposits

In terms of getting your money in and out of ETFinance, you should have really no issue at all in making sure that you can have some fun. However, one thing we will say is that if you are not using your account frequently then you could incur €50 withdrawal fees. Usually, that happens when there is insignificant or no trading activity in the client’s trading account prior to the submission of the withdrawal request. Or a monthly fee will be imposed on a trading account which has become archived due to inactivity (trading/deposits/withdrawals) for a period of sixty (60) calendar days, and which have free balance in the account. That being said, if you are using the site regularly enough then you should really have no problem at all with missing out on any kind of withdrawal and/or deposit – you should also not have to pay fees.

One thing we will say too is that the options for payment are quite small. You could use solutions like Trustly, as well as most major banks and credit cards. However, you will not be able to use things like PayPal, so make sure you keep that in mind when you are using this system.

You should have no real issues with getting signed up, but your withdrawals will need you to provide a bank statement, your banks reference number, and your bank’s IBAN number if you wish to make a bank transfer. Keep that in mind when looking at various trading platforms.

Our Verdict

Overall? The quality of ETFinance is hard to disagree with. While it does have its limits, the overall quality of their service offering is very good. With some pretty fair minimal deposits and the like, too, there really are no issues with ETFinance for beginners. Veterans, though, could feel somewhat constrained by its limits and its inability to do certain things or offer certain features.