ET Finance Broker Review: All Details, Regulation, & Features
Published: 3 September 2020 by juan
ET finance is a trading company that began its operations in 2018 in the Republic of Cyprus. The broker specialises in offering forex and CFD services to its users at cutting edge spread prices. The company’s website is available in multiple languages, including German, Portuguese, English, Dutch, Spanish, Italian, etc. Notable the website’s UI and UX both are impressive and anybody, whether a trader or not, would readily understand everything and navigate to his desired portal.
However, the company only caters to the European clients and doesn’t provide their services to any other country customer. The broker is regulated with CySEC and offers robust IT security for the security & safety of their clients’ funds, data, and information.
The minimum deposit is $250 to start the real trading, but anybody can use their free demo account.
Today, we’ll try to present you a detailed ET finance broker review. The review contains every vital information about the client and would clear all your doubts.
Real Madrid Connection
The broker ET finance is the official sponsor of the basketball team, Real Madrid Baloncesto. The team is one of the most triumphant Spanish clubs and has won several titles including Spanish cup, Saporta Cups, Spanish League championship, and EuroLeague championship.
The broker brings its top game in operations similar to the top basketball team in Spanish League, i.e. consistent and impressive, in their efforts. The company’s headline says that “Winning is in our DNA” and they seem to prove it by providing excellent products and services.
ET Finance Prominent Characteristics
License: ET Finance is the brand name of the brokerage firm, Magnum FX Ltd. (Cyprus), which offers its users with a variety of trading services and products. Moreover, within a short period, the broker was able to get regulated under a top financial body, i.e. CySEC. The trading website is registered with the Cyprus Securities & Exchange Commission with the license number 359/18.
CySEC is a well-recognised financial institutions’ governing body which primarily operates forex and CFD brokers globally. The firm, Magnum FX Ltd., is registered with the number 360548 in the nation.
Further, the organisation is authorised to provide financial services to the EEA (European Economic Area) through the MiFID regulations. The users’ funds are secure with the company’s regulation with the Investor Compensation Fund (ICF) to all the eligible users. The insurance firm would pay the amount up to 20,000 Euros per user if the ET finance ever goes bankrupt or insolvent.
ET Finance Trading Platforms
“ET finance trading platforms” aids traders in executing orders smoothly and earn profits. The broker offers the widely used MetaTrader 4 platform, which today is operated by primarily every good broker. However, note that the firm doesn’t provide the MT 5 and cTrader platforms to its clients. The MT4 is available to use through desktop, website, and application versions.
The platform MT4 is operated by tens of thousands of CFD/forex traders in the world. It is developed and owned by a Russian firm, MetaQuotes Software Corp. The software is free to use for everyone and is packed with several tools, including signals, charts, analysers, patterns, and more. However, the primary characteristics of the platform are listed below.
- One-Click trading,
- More than 24 drawing tools for analysis,
- Easy and customisable UI,
- Available in more than 35 languages,
- More than 30 technical indicators and the number can be increased with the help of plugins,
- Real-time nine-time frame charts, available for 1 minute to 1 month period,
- Risk management tools,
- Price alerts on the phone via SMS, pop-ups, and via email.
- Provides access to the MQL market, where tools like signals, indicators, EAs, etc. are available for download,
- Real-time bid and ask price to users,
- 24+ analysers and 30+ indicators for fundamental and technical examination.
There are a vast number of tradable assets available with the ET finance broker. The list of financial instruments includes currency pairs, shares, indices, commodities, metals, crypto, and more. In total, there are around 500 financial instruments in which 150+ are shares, 50+ are stocks, and 20+ are indices.
Note that the broker doesn’t offer the products in real but provides the CFDs, i.e. speculation on prices, on these financial instruments. One notable advantage of CFD trading is a trader can earn profits in both the directions, i.e. on uptrend and downtrend both, while in real buying, the option is only one-sided.
Some of the accessible assets, according to market types, are:
- Metals: copper, platinum, gold, silver, etc.
- Indices: FTSE, Dow Jones, AEX, IBEX, CAC, etc.
- Commodities include sugar, coffee, crude oil, natural gas, corn, and more.
- Major and exotic currency pairs such as EUR/USD, GBP/JPY, EUR/DKK, and AUD/CHF.
- Significant stocks, including Amazon, Apple, Facebook, BMW, Vodafone, Barclays, etc.
All these assets are available with the broker on commission-free trading and without any hidden or extra charges. The trading firm solely earns from spreads, which are mentioned on their website.
ET Finance Deposit & Withdrawals
There are several ET finance deposit and withdrawal options for the ease of customers. The payment options available are easy to understand for everyone and has a less than average processing time. Deposits hardly take 15 minutes, and the withdrawals are credited in customers’ accounts within one to two business days, after verifying the transaction.
The right thing is there is no charge on adding or taking funds out from the website. But, if any customer puts a withdrawal request without trading two or more orders with the broker, then he/she would be penalised with a 50 euro charge.
The available payment options are debit, credit cards, bank wire transfer, and E-wallets like Neteller, Skrill, Vpay, etc. The supportable card types are Visa, Mastercard, and Maestro.
Note that all the users are required to scan and update any identity card for verification before using the card payment option.
PS: The number of payment options available with the broker might vary, based on your country. However, the methods mentioned above are available in almost every place in the world.
ET finance offers three different kinds of accounts for users, as per their level of expertise in trading, namely, silver, gold, and platinum. While the silver account is suitable for beginners, gold and platinum are good to go for experienced customers. Here is the full detail about all the account types.
Silver: The account is for novice traders and offers 750 tradable assets with a maximum leverage facility up to 1:30. The lowest spread starts from 0.07 pip without any commission, and the average pip for the EUR/USD pair is 2.2.
Gold: The lowest spread charge for this account is 0.05 pips. Apart from it, the gold users would also get a 25% swap discount. The maximum leverage available is 1:500 with this type, and the other services include hedging, scalping, free webinars, videos, a dedicated account manager, and many more. The average spread rate is 1.3 in this kind.
Platinum: The account for advance level traders where the minimum spreads start from 0.03 pips, but there might be commission on trades. Same as the gold type, a platinum user also gets the same benefits along with a 50% swap discount and free VPS & news alerts from the broker. The average pip fee for this account type is 0.7 only, which is less than the industry average too. Note that the leverage 1:500 is only for professional account holders.
Apart from these account types, there are two more types, i.e. demo service account and Islamic account. The demo service by the broker is free for use for a maximum of fourteen days. Any trader or user can use it for practice before entering the market. It would also aid the user in deciding that he should trade or not or trade with ET finance or not by experiencing the broker’s services.
The ET finance customer support team provided an above-average service while reviewing as compared to its other counterparts in the trading industry. They very well know that consumer assistance is the key to satisfying the needs of every user. The team is readily available and thus, responds quickly. The average telephone response time for the broker is less than two minutes.
One can contact the executives via telephone, email, or through the live chat option. The available time for any user is 07:00 to 19:00 GMT, Monday to Friday. Moreover, there is one dedicated broker FAQ page for solving the common queries of customers. And still, if the problem persists, then do not hesitate to contact the broker via the feedback form.
The customer executives were intelligent, polite, and patient enough to resolve all the queries and answer all the questions.
Research Tools: ET finance provides many tools for users to analyse and examine the trades, charts, and indicators. Economic and earnings calendar are notable out of those tools. Users can use these tools for better decisions regarding their future trades, entry & exit points, and many more. An economic calendar helps a user in determining essential events related to the financial market.
Similarly, Earnings Calendar provides the users with prominent dates when the companies will release their financial reports. The broker updates the calendar every three months and shows the data of top leading companies of the world. It includes data like net sales, EPS (earning per share), cash flow, etc.
Et Finance educational Content
ET finance offers a dedicated educational portal to customers. Anybody can navigate to the page quickly and learn from their valuable content. The material includes videos, webinars, seminars, e-books, courses, tutorials, articles, and more. The content is free for everyone, and the motive behind this is spreading knowledge across traders.
Webinars happen two times in a week, and interested candidates can register for them before the event. The shows are helpful for both technical and fundamental analysers. Moreover, some articles clear the foundation of traders on financial topics such as cryptocurrencies, shares, forex, CFDs, etc. In total, there are more than 25 write-ups.
Apart from it, there are 22+ videos and 7+ E-books available on the portal, segregated as per the expertise of the trader, i.e. advanced and beginner. The videos are easy to understand, animated, and short in length. Some of the notable Ebook topics are capital management, technical analysis, strategies, trading psychology, etc.
Apart from it, there are several other courses and tutorials on different topics like how to use MT4 or CFD trading beginner courses. Check the full list here.
Opening an Account: ET finance account opening process is easy and fast. One needs to visit the company website and click on the icon named “Open Account”. After clicking, a 5-page form will appear. A user is required to fill all the details carefully and accurately. It contains personal, employment, and other information.
After uploading the required documents, you would be sent the login credentials, once the company verification is done.
The account is ready to trade and add funds to buy any financial instrument.
Bonus & Promotions
Unlike other brokers, ET finance doesn’t believe in attracting customers through any means other than their products and services. Thus, the broker doesn’t have any bonus offers or promotions for customers.
The reason behind the move also could be the restrictions by the CySEC to not offer any bonus to EU clients, and the broker only serves in Europe. However, it can be seen as a plus point as the broker obeys the rules by the financial body and does not believe in trapping their users.
Spreads & Charges: The ET finance fees for trades is at par with other brokers. As told, there is no commission on trades and offers tight spreads. However, the accurate spreads vary as per the account type, and you should check this page for full details.
Apart from it, there are overnight swap charges and an inactivity fee, if a user doesn’t trade for two months. However, the good thing is every cost is transparently mentioned and is fair when compared with similar counterparts in the same industry.
Awards: ET finance broker has been offering trading services since 2018 only but still has managed to grab many awards. The list is available on their site, but the prominent ones among them are:
Best Forex CFD Broker 2020 by World Finance
Most Reliable Forex Broker by A+OZ
Best CFD Broker 2020 & 2019 at the Global Banking & Finance Awards
Fastest Growing CFD Broker
The Bottom Line
Overall, ET finance can’t be considered a risky broker and is safe to trade due to genuine services and authorisations. Although, the review covered all useful information for users but still if anything is remaining, then visit the broker site. One can also contact the broker via the mentioned methods to clear their further doubts.
A user before selecting a broker should keep in mind their own needs and requirements. If the brokerage firm is fulfilling the essentials, then go for it; and if not, then no matter how good it is, it is of no use to you.
Further, if we talk about ET finance, the advantages while trading with the broker are commission-free, good education and research content, excellent deposit and withdrawals, and smooth onboarding process. Similarly, the disadvantages include no global presence, lack of bonus & offers, demo account only for 14 days, and no proprietary platform.