Is ETFinance fraud a possibility?
ETFinance forex broker is a new entrant into the industry, and they have come in with quite a bang. This company might be around for only a couple of years, but it is already managing to impress a large number of traders and competitors with the service that they are providing to their users in the Eurozone. ETFinance has a number of features that are especially stand out, such as their customer service or the number of licenses they have. The only thing is, the young broker has to be able to retain these qualities for a longer time than it has up til now – qualities such as these are usually a sign of a young company. If they do not retain these qualities, they lose all of the points that they have gathered up to now. The company, of course, has other qualities that are important to the users looking for a new broker. Let us look at those right now and try to understand whether the broker is actually for you.
ETFinance review: first impressions
The very first impression that we got from the broker came from their website, and it was a very neutral impression at best. The problem is that the website itself is very neutral looking. It takes the minimalist style, mixes it with white and blue and then leaves the website at that. There is not much fat on the page in terms of decorations and in terms of imagery. This could mean two things 0 the broker is trying to keep the website simple and avoid overloading the visitor with useless information, or they just don’t have much to say, which would indicate and ETFinance fraud. Fortunately, once you get around the navigating the website and actually identifying all the different aspects of the website, you will notice that there is plenty of information provided about the broker. The information details most of their qualities and is easy to access, which means that the fraud suspicions are quickly dissipated and we can move on to actually looking at what the broker has to offer.
And the offers are really easy to find. The broker provides you with all of the information you need up front: their customer service office information, their platforms, their spreads and the legal terms of their operation, as well as the license that they operate under. The ease and speed with which this information is accessible is highly commendable and garners respect from our team. It is, in our opinion, important to make it easy for people to gather information. Otherwise, you run the risk of people getting a product that they didn’t want, which is also why all should read the contents of the legal agreement before starting to trade with the broker, to gather the information and remain informed of your choices, so that your ETFinance opinions are not later tarnished by not knowing what you got into in the first place.
Our ETFinance opinion on platforms and features
ETFinance MT4 is a platform that the users who register with the broker will be able to start trading with. It is one of the most favoured platforms among traders, and it is also one that has been present in the industry for the longest time. The functionality the platform provides allows for high speed, highly effective trading: indicators, detailed charts and other tools that enhance the trading experience of anyone who starts using the platform. For those that are not that living off the MT4 solution, the broker also provides an alternative. The Webtrader application is for those that do not want to download anything to their computer. It allows traders to conduct most of their business in their browser and serves the same functionality as MT4, except in the browser. For those that do not want to trade using a computer at all, the broker provides the option to start trading with their mobile application, which is a very well integrated and available for all operating systems.
The broker only offers 1:30 leverage to those traders that are not proven to be professional traders. But, if a trader is qualified to be a professional, they will be able to gain access to up to 1:300 leverage on Forex trades, as well as on the other financial assets, including Commodities, Metals, Indices and Stocks. All of these are CFDs, of course, which can be dangerous to trade. This is why the non-professional traders will only be able to gain access to 1:30 leverage and only professionals will be able to get their hands on high leverage trades.
The broker also has a very nice customer care service. These guys operate 5 days a week, 24 hours a day. This allows all users to gain easy access to them any time the markets are active, in order to be able to fix any issue that might arise. This is an incredibly important feature as a good customer support system allows for a higher rate of success among traders. They are polite and very helpful, which is a nice thing to find for a change among new brokers. This is why the ETFinance rating is higher than many of you would expect.
Can ETFinance be trusted?
The short answer is yes. The long answer goes as follows: ETFinance is license by CySec, a Cyprus based regulatory body, to operate. We all are aware of how reliable CySec is in their evaluation of brokers and in their enforcement of rules. Beyond just CySec, the broker is also licensed to operate by the FCA and by BaFin, both of which are highly respected organizations that companies around the world try their best to get licensed by. Furthermore, ETFinance FX brokerage also operates under ESMA rules and has never been noticed to go against any of the rules, at any points. This further makes us trust the broker – ESMA rules are strictly enforced and the fact that the broker has never been reported to violate them means a lot in terms of how trustworthy they are.
The problem with the youth of the broker is that when you go looking for ETFinance reviews from users, they are few and far between. Most users are still in the phase being fully immersed in their trading with the broker and have yet to think about leaving a review, positive or negative. The ones that are available are mostly positive and speak to the nice experiences they have had with the customer service and how quick and easy trading with the broker is. So we are going to hold back our evaluation of the user reviews, but are going to say that in our experience the broker operates very well.
As we mentioned before, the answer to “is ETFinance legit?” is very much a resounding yes. Not only that, but we believe the broker to be a highly recommendable one to work with. The features they provide, the wide choice of assets, the variety of the platforms and the ease with which you can establish communication with the customer support service all pay testament to how good the broker is. The only problem is that the company is very young, even if they are managed by a large and older company. The youth poses the danger that many things might change over time. If the things that change concern the best qualities of the broker, then the broker will quickly join the ranks of the average brokers. Thankfully, it seems like ETFinance scam is not possible and that the broker has committed to establishing themselves as one of the best in the industry. So we say, go with confidence and start trading with them.