Review ETFinance
https://www.etfinance.eu/ Headquarters in Cyprus Open Demo Account Open Live Account BEGIN item ContentsQuick LookPros and ConsCrypto ProductsBankingEducation
Quick Look
Individuals all around the world have long enjoyed trading currencies in an attempt to increase their wealth. Now that we’ve reached the 21st century traders have a new way to trade currencies – cryptocurrencies. These digital assets aren’t issued by any government and exist only as binary code on a structure known as the blockchain. The only problem with this new asset class is that it has sometimes confusing terms, it is complicated to learn how to store and transfer the new type of currency, and there can be security issues, especially when holding cryptocurrency in an exchange wallet (account). Plus, none of those cryptocurrency exchanges are regulated, giving traders no peace of mind.
In an effort to make cryptocurrency trading more accessible, regulated brokers like ETFinance now offer CFDs on cryptocurrencies. This makes cryptocurrency trading accessible to average investors who might not otherwise be willing to participate in this exciting new asset class.
ETFinance is a fairly new broker that was launched in 2018. It is a brand name of Magnum FX (Cyprus) Ltd., and is regulated by the Cyprus Securities and Exchange Commission under license number 359/18.
ETFinance has over 300+ CFD assets available to trade, including a wide selection of the cryptocurrencies. They also provide clients with the MetaTrader 4 trading platform, three different account types, a demo account and an Islamic swap-free account.
Traders with experience will likely be happy to see that MT4 is offered as the trading platform for desktop and mobile. There is also a Webtrader that can be used in any browser with an internet connection. It’s a perfect collection of trading platforms.
Clients are able to contact customer support via online form, live chat, or telephone on Mondays through Fridays from 7:00 to 17:00 GMT.
ETFinance.com Pros and Cons
Pros
Regulated brokerMetaTrader 4 platform for desktop, web, and mobileExtensive offering of cryptocurrencies
Cons
U.S. and U.K. citizens not accepted as clientsNo social trading availableDemo account expires after 14 days
Cryptocurrency Products
*83% of retail CFD accounts lose money.
Cryptocurrency exchanges will allow you to trade literally thousands of different cryptocurrencies. However, the vast majority of those are small cap tokens with little liquidity and lots of risk. These aren’t the cryptocurrencies most smart traders want access to.
Currently ETFinance offers 21 different cryptocurrencies with 32 trading pairs to choose from. Trade on Bitcoin, Ethereum, Litecoin, Ripple, and many other popular cryptocurrencies. The most popular coins, like Bitcoin, even give traders the option to trade against various fiat currencies. For example, Ethereum has the following pairs:
ETH/USDETH/EURETH/GBP
Traders will enjoy 1:2 leverage when trading cryptocurrencies, as well as competitive floating spreads. And since there is no centralized cryptocurrency market the trading never stops. You can trade cryptocurrencies 24 hours a day and 7 days a week, even on holidays.
Banking
At ETFinance clients will find a number of deposit and withdrawal methods, including credit and debit cards, bank transfers, and online ewallets like Skrill and Neteller. Note that deposit/withdrawal methods can differ from country to country, and that some methods (mostly the eWallets) will charge withdrawal fees. There might also be transaction limits from some of the platforms.
Education
ETFinance has a solid educational portal that will help traders of all experience levels excel at trading cryptocurrencies. Compare that with the cryptocurrency exchanges that often don’t even have any materials to teach traders about their own platform, let alone impart any trading knowledge. Clients of ETFinance will benefit from a series of courses, tutorials, webinars, ebooks and articles, and video on demand all created to improve their trading skills. And for those who want a bit more help there’s also a trading signals package that’s available.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage 83%
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