This article takes a comprehensive look at ETFinance, and gives you all you need to know before investing with them. And if you feel you have lost money to ETFinance scam, you will also find effective solutions to recover money lost to ETFinance or any other broker. ETFinance is a European online broker that offers a variety of trading products including forex, commodities, indices, stocks, cryptocurrencies, and ETFs. It has been said by users that the best way to trade on this broker is through a trading robot. During our in-depth review, we have found quite a number of people claiming that they have lost money to ETFinance.
From the information we have gathered so far, ETFinance appears to be quite legit, but this doesn’t rule out the fact that some shady dealing seem to be going on within their organization which is making people lose money. In this article, we are going to cover how to recover your money if you lose money to ET Finance. We will also look at all the features in-depth and how you can access ETFinance through an auto trading robot such as Bitcoin Era.
Keep on reading if you would like to know more about the broker’s fees, trading platforms, account types, deposits, withdrawals, pros and cons, and more.
What is ETFinance?
ETFinance was founded in 2018, the company is owned and operated by Magnum FX (Cyprus) Ltd. It is a registered company in Cyprus under registration no. HE360548. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 359/18 and is located in 79 Spyrou Kyprianou Avenue, 3076, Limassol, Cyprus.
ETFinance allows traders to manually trade assets on the financial markets through a connection to liquidity providers. The broker offers a variety of markets and products including stocks, currency pairs, commodities, cryptocurrencies, and ETFs. However, we would like people to take note of the difference between online brokers such as ETFinance and crypto robots such as Bitcoin Trader or Bitcoin Era.
Unlike online CFD brokers that allow traders to manually trade CFDs, crypto automated trading robots claim to use sophisticated trading algorithms that allegedly scan the market and are able to place profitable trades in the market for you.
Crypto robots are not allowed by law to collect deposits and must, therefore, operate through a partner broker. That is the reason why crypto robots like bitcoin era transact through regulated brokers. Following our review, we can confirm that ETFinance is a legit and regulated broker. We always recommend traders of all levels to trade on regulated and well-reputed brokers through automated trading robots.
Based on user reviews, we have found that the best way to start trading on ETFinance is by monitoring your personal account properly.
How is ETFinance Regulated?
ETFinance is a brand name of Magnum FX (Cyprus) Ltd., a leading investment firm, licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 359/18. Being regulated by CySEC ensures that clients’ funds are highly protected in segregated accounts and clients also have a certain level of insurance should the broker go bankrupt. Magnum FX (Cyprus) Ltd. is authorized to provide its services to EEA counties.
Is ETFinance Legit or a Scam?
Even though a lot of people have been complaining that they lost money to ETFinance, we can’t say categorically for now that ETFinance is a scam company. Although, there are strong indications that there are some unethical practices going on within their company, which we are currently investigating. So as of now, we can say from our review that we do not find ETFinance to be a scam company (yet). However, there seem to be some questionable practices we have noticed based on our investigation and user reviews, and we are looking more into these.
ETFinance is regulated by the Cyprus Securities and Exchange Commission (CySEC) and complies with GDPR standards, ESMA, and MIiIFD.
The broker offers several features for inexperienced and professional traders. It is also a good educational hub, a variety of tradable assets, solid customer support, and advanced trading tools. Yet, We must inform you that we have come to the conclusion that the best way to trade on ETFinance is through an automated crypto trading robot such as Bitcoin Era. If you are a beginner trader and have not yet developed sufficient trading skills, trading on ETFinance by fully automating your trading by one click. What this means is that anyone can use this platform without having previous trading background.
ETFinance offers a number of financial assets. As a matter of fact, they offer more than 1000 financial assets to choose from including currency pairs, crypto pairs, commodities, indices, and stocks. Take note that even before you signup on this broker, you will be able to see all the tradable assets available.
ETFinance Trading Platforms
When it comes to trading platforms, ETFinance offers the most popular trading platform in the industry, the MetaTrader4. Metatrader 4 is available as a desktop and mobile application, as well as a web-based trading platform. This means that the broker also offers a mobile application available on Google Play and App Store.
Another great advantage is that ETFinance allows you to trade MT4 as a web-based platform without having to download and install a desktop platform.
How to trade on ETFinance
As we mentioned previously, we recommend trading on ETFinance through the automated trading system. Using an automated trading robot that was designed to analyze the crypto markets and allegedly is able to place profitable orders in the market for you. This robot also claims to have an accuracy rate of 92% and to be able to generate high returns for its users. On this robot, you will only have to adjust the trading settings and the software will immediately start the automated trading.
The registration process is simple and requires three easy steps. Here’s a step-by-step guide on how trade on ETFinance through automated trading.
ETFinance Pros and Cons
ETFinance provide MetaTrader4, available as a desktop and mobile application as well as a web-based platform.
It offers solid customer support via phone, submit a ticket, live chat, and email
ETFinance is the Cyprus Securities and Exchange Commission (CySEC)
The broker provides an extensive range of tradable assets.
ETFinance offers competitive spreads, as low as 0.03 pips
ETFinance offers an Islamic account for users who wish to apply the principles of Islamic law.
The broker provides great educational resources
The broker is authorized to provide its services to EEA counties only
Currently does not offer a welcome bonus
Maximum leverage of 1:30 for retail accounts
Conclusion: Recover Money Lost to ETFinance.eu Scam
There is no doubt that ETFinance is a popular brokerage firm. But when it comes to reliability, especially in terms of trading features, safety and security of clients’ funds, there seems to be some questionable/shady observations. Their company is regulated by the Cyprus Securities and Exchange Commission (CySEC), provides MetaTrader, offers a great variety of more than 1000 financial assets, and a selection of educational resources. We advise you contact a representative first, and ensure they clarify all terms and conditions for you to understand before you to trade on ETFinance. And any investor/trader who has lost money to them can also recover the lost money. See detailed information about how to recover money from etfinance.eu, and how to also trade profitably here.