Overall Rating: ★★☆☆☆ (2.5/5.0)

ETFinance was a Cyprus-based CFD and forex broker offering a wide range of financial instruments via MetaTrader 4, WebTrader, and mobile platforms. Operated by Magnum FX Ltd and regulated by CySEC, the broker targeted clients in the European Economic Area (EEA) with access to forex, shares, indices, commodities, and cryptocurrencies. However, ETFinance ceased operations in 2021, and its licence has since been withdrawn. This ETFinance review serves as an archive summary of its previous services and regulatory status.

Key Features

While operational, ETFinance aimed to offer a straightforward trading experience for European retail traders.

• Platforms Offered:
  • MetaTrader 4 (MT4) for desktop and mobile
  • WebTrader for browser-based access
• Asset Coverage:
  • Over 250 instruments including forex, shares, indices, ETFs, and crypto CFDs
• Account Types:
  • Silver, Gold, and Platinum, with different spreads and leverage levels
• Trading Style:
  • STP execution with no dealing desk intervention

Regulation and Security

ETFinance was previously regulated but is no longer licensed.

• Regulated by CySEC – Licence No. 359/18 (now withdrawn)
• MiFID II compliant during its operational period
• Client Fund Segregation: Yes, under CySEC rules
• Investor Compensation Fund (ICF): Eligible retail clients were covered up to €20,000
• Licence Withdrawal: CySEC suspended and later fully withdrew the licence in 2021

Pricing and Costs

ETFinance followed a spread-based pricing model with zero commissions on most instruments.

• Spreads:
  • Forex: From 2.0 pips on standard accounts
  • Gold and Platinum accounts offered tighter spreads
• Commission:
  • Commission-free on most CFDs
• Minimum Deposit:
  • €250, which was higher than average for beginner accounts
• Deposit & Withdrawal Fees:
  • No internal fees; withdrawal delays were reported by users
• Inactivity Fee: Charged monthly after 60 days of inactivity

Educational Resources and Customer Support

The broker provided a solid educational offering before closure, with resources aimed at beginner traders.

• Education:
  • Webinars, eBooks, tutorials, and glossaries
• Market Analysis:
  • Daily news updates and trading signals
• Support Channels:
  • 24/5 via live chat, phone, and email
  • Multilingual service for EU clients

Risk Management Tools

Risk features were embedded in MT4 and WebTrader, with no proprietary enhancements.

• Stop-loss, take-profit, margin alerts, and trailing stops available
• Leverage:
  • Retail: Up to 1:30
  • Professional: Up to 1:500, with eligibility checks
• No advanced custom tools outside platform defaults

Pros and Cons

Pros

• CySEC-regulated during operation
• Access to MT4 and WebTrader
• Multilingual support and solid educational content
• Variety of tradable CFDs including crypto

Cons

• No longer operational (licence revoked)
• Wide spreads for entry-level accounts
• Reports of poor withdrawal experience
• No proprietary platform or mobile innovation
• Inactive brand – clients redirected or closed out

Conclusion: Is ETFinance the Right Choice?

ETFinance is no longer operational, and its regulatory licence has been revoked. While it previously served EU clients under CySEC, the broker ceased offering trading services in 2021. As a result, traders seeking a regulated MT4 broker with access to multi-asset CFDs should consider alternatives such as Admirals, XTB, or Pepperstone.