When trading in the financial markets, finding the right broker can make a huge difference. Having a capable and reliable broker in your corner is vital to your success in trading because if the broker is a scam or unreliable, you could end up losing your entire investment. However, the legitimacy of the broker is not the only requirement that needs to be fulfilled. Sometimes, a broker may be legitimate and trustworthy, but their profile may not your needs, which means it may not be possible to have a good working relationship. During your search, you will find a variety of options, but ETFinance is one of the best brokers you can choose to use.
This is a European online broker that offers its customers a wide array of trading products, which was founded in 2018. The company behind it is known as Magnum FX Ltd, which is registered in Cyprus. Due to its location, the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), which ensures that all client funds that are deposited with the broker are kept in segregated accounts. In addition, clients are also provided with a certain level of insurance that can be used in the event the broker goes bankrupt. ETFinance complies with ESMA, MiFID and GDPR standards, which indicates that the broker is not a scam.
If you are unsure of whether to sign up with ETFinance or not, here are some notable reasons that just may convince you:
- The access to numerous Markets/instruments
The primary purpose of trading is to invest money in buying or selling an asset or instrument. ETFinance gives you the opportunity of doing so, much like other brokers. So, what makes it different? It is distinguished by the fact that you can trade more than 1,000 financial assets via this broker, which are spread over multiple markets. You can put your money in cryptocurrency, currency pairs, stocks, indices and commodities. It is easy to check out what tradeable assets are offered by ETFinance even before you sign up with them.
- The choice in Trading Platforms
Where trading platforms are concerned, ETFinance has integrated one of the most prominent and popular trading platforms that exists in the industry i.e. MetaTrader4. The best part is that the broker has incorporated its desktop version for those who prefer this option, the web-based option as well as the mobile app for greater flexibility and convenience. The mobile app is available for iOS and Android phones and comes with excellent functionality. The MT4 platform is enriched with plenty of useful features and tools that can be handy during trading. If you don’t want to download or install a platform, the web-based option is an excellent option.
- The custom account options
There are three basic account types that you will find on ETFinance. What makes them so special? These are unique because each of these account options has been formulated for a very specific kind of trader. This means that ETFinance aims to cater to traders from different backgrounds and with varying skill levels. The minimum deposit requirement for their first account, Silver, begins at $250. This has been formulated especially for beginner traders due to which it only offers the most basic features and access to limited assets. The next account option is for experienced traders and is called the Gold account. Since the traders have some experience, they are offered a higher leverage and access to better features and tools that can help them.
The third account option is for traders with years of experience under their belt and it is called the Platinum account. All tools and services that ETFinance offers can be availed through this account type and you can enjoy maximum leverage. If you still find the options limited, the broker gives you the option of applying for a Professional account. As the name indicates, this one is only for professional traders and offers exclusive programs, features and spreads. Muslim traders have also been accommodated as an Islamic account option is available for all three primary account types.
One more reason why ETFinance appeals to traders is due to the availability of a demo account. This gives them the option of trying out the broker and the platform before risking their actual money. It helps you ensure that ETFinance is a right fit for you.
- Impressive leverage, commissions and spreads
ETFinance has proven itself to be very impressive in regard to leverage, commissions and spreads. Retail clients can enjoy a leverage of about 1:30 while professional traders are given a leverage of about 1:500. However, the ratio of leverage you can get also depends on the asset classification. One of the best things about ETFinance is that it has not used the commission model for charging its clients. There is no need for you to be concerned about any hidden fees or any charges associated with deposits and withdrawals. The only way the broker charges its clients is in the form of spreads. Even here, you can enjoy competitive spreads that go as low as 0.03 pips. This means that your costs of trading are very low and you can take most of your profits home.
- Extensive education and other resources
Another excellent reason to sign up with ETFinance is due to the unique educational resources the broker has incorporated on its platform. These include earnings calendar, economic calendar, e-books, articles, tutorials, courses and VOD. These resources can be useful for beginners, seasoned as well as professional traders. The VOD section is undoubtedly exceptional and can play an important role in helping traders achieve their goals.
These are some great reasons for a trader to go with ETFinance when they wish to trade numerous assets for portfolio diversification. Along with these features, you can enjoy variety in banking options and easily access your money. Plus, problems can be resolved through responsive customer support, allowing you to trade profitably without any interruptions.