ETFinance was founded in 2016. ETFinance is an EU broker. It is a and is a brand name of Magnum FX (Cyprus) Ltd. Cyprus Securities and Exchange Commission, the “CySEC” regulates the broker, Thus technically, all transactions and financial acts are safe and monitored.
Also, the brand itself offers commission-free trading. Besides, the broker presents are users with a wide range of tradable assets across Indices, Commodities, Forex, Stocks, and on the MetaTrader trading platform.
However, most of the features and services are designed for beginner traders. Also, the company does not provide services to the US.
Also, the company is registered to provide cross border services to other European nations.
ETFinance Regulations and Investor Protection
Magnum FX (Cyprus) Ltd operates several broker agencies with different brand names. Moreover, Magnum FX’s primary domain is ETFinance. Both, Magnum FX (Cyprus) Ltd and its brand name ETFinance are licensed and controlled as they offer trading services of CFDs. As we noted, ETFinance is licensed by the Cyprus Securities and Exchange Commission, also known as CySEC.
The broker also offers further protection to the client. Here are some essential points of the company’s proposal:
- ETFinance holds client funds in segregated accounts within reliable Cyprus or EEA credit institutions.
- ETFinance is an official member of the Investor Compensation Fund. Thus, in the case of the company’s inability to fulfill its financial obligations., the fund will help out.
In addition to CySEC, ETFinance has an EU broad license, which gives the broker the right to target EU citizens irrespectively of where they reside – the UK, Cyprus, or any other EU country. As you may know, All EU regulated brokers are subject to strict regulatory requirements.
