Basic Information & Regulators of ET Finance
ET Finance is the trading name of MAGNUM FX, which was established in September 2016, and the domain name of ET Finance was registered on GoDaddy in July 2018. ET Finance currently holds an STP license from the Cyprus Securities and Exchange Commission (license number 359/18).
Safety Analysis of ET Finance
ET Finance is currently regulated by the CySEC of Cyprus, a global tier 1 regulator. This regulator has a stringent regulation for foreign exchange brokers, which means that investors' capital safety and trading activities are protected to a certain extent. Investors should take care to stay away from this ET Finance trading platform.
Market Instruments of ET Finance
ET Finance offers investors a wide range of financial trading instruments, including Forex currency pairs, CFDs, ETFs, indices, stocks, energies, metals, and cryptocurrencies.
Accounts & Leverage of ET Finance
ET Finance offers investors three different types of trading accounts, namely Silver, Gold, and Platinum Accounts. The Silver account has a leverage of 1:30 for major currency pairs, 1:20 for minor currency pairs, gold, indices, 1:10 for commodities, 1:5 for stocks, and 1:2 for cryptocurrencies. The Gold and Platinum accounts have the leverage of 1:500 for Forex currency pairs, 1:125 for indices and commodities, and 1:10 for company stocks.
Spreads & Commissions of ET Finance
For positions held overnight, ET Finance is subject to a 5% Swap charge. For Silver accounts, spreads start at 0.07 pips with no SWAP discount. For Gold accounts, spreads start at 0.05 pips with a 25% SWAP discount. For platinum accounts, spreads start at 0.03 pips with a 50% SWAP discount.
Trading platform Available of ET Finance
ET Finance offers traders three powerful trading platforms, namely WebTrader, MT4 trading platform, and Mobile APP. MT4 is currently the most popular forex trading platform with a range of features and intuitive design, supporting more than 50 technical indicators, 30 interactive charting tools, 9 timelines, 30 languages supported. Traders can create and customize their own trading strategies. WebTrader/web trading platform has almost all the features of MT4, with a web-based trading interface for direct trading without the need to download any software. The Mobile App provides traders with the flexibility to trade on their mobile devices anytime, anywhere.
Deposit and withdrawal of ET Finance
ET Finance supports traders to deposit and withdraw funds to their investment accounts via VISA, MasterCard, Skrill, wire transfer. ET Finance reserves the right to charge a withdrawal fee of $50 for inactive accounts.
Pros & Cons of ET Finance
Pros of ET Finance:
1. CySEC Regulation
2. Abundance of Financial Instruments
3. MT4 Trading Platform
4. Swap Discount
5. Thin Spreads
The Cons of ET Finance:
1. Higher Fees for Inactivity Accounts
2. Limited Time Available For Demo Accounts
3. Absence of FAQ Section.
