ET Finance Account Types Reviewed ☑️ (Updated 2024) (2024)

ET Finance provides three different account types e.g., Silver, Gold, and Platinum accounts. Each account type has its own set of conditions for commission, margin calls, leverage, and minimum deposits.

ETFinance at a Glance

ETFinance Account types – 10 key points quick overview:

1. ETFinance at a Glance

2. ETFinance Account types – 10 key points quick overview:

3. ETFinance Overview

4. ET Finance Account Types

5. ETFinance Account Features

6. ETFinance Demo Account

7. ETFinance Islamic Account

8. ETFinance Pros and Cons

9. Conclusion

10. Frequently Asked Questions

ET Finance provides three different account types e.g., Silver, Gold, and Platinum accounts. Each account type has its own set of conditions for commission, margin calls, leverage, and minimum deposits.

Finding a reputable list of ET Finance account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

ETFinance Overview

ET Finance is a forex broker company in Cyprus that gives traders admittance to platforms that allow them to buy and sell foreign currencies. Its headquarters is listed as 1 Agias Fylaxeos Street, 3025 Limassol.

Forex brokers are retail or currency trading brokers and can also provide services to institutional clients and large businesses, for example, investment banks.

ET Finance is a trading name of MAGNUM FX (CYPRUS) registered, authorized, and regulated by the Cyprus Securities and Exchange Commission (CySEC).

MAGNUM FX (CYPRUS) LTD was incorporated on 28 September 2016 and the domain ETFinance.EU registered on 29 July 2018 with GoDaddy. Its services and features offered seems to be designed more for beginner traders, however major deposit and withdrawal methods are supported and available trading platforms include a WebTrader, MT4, and a mobile App.

The broker sports a clean and intuitive web design but offers a limited range of markets for professional traders.

It does not offer services to residents of the United Kingdom, Germany, and Italy.

Clients highly rate ET Finance though, and boasts that it has already won the following awards:

Best Forex CFD Provider 2024 – World Finance

Best CFD Broker Europe 2024 – Global Banking and Finance Awards

Best Customer Service 2024 – ADVN

Best New CFD Broker Europe 2019 – Global Banking and Finance Review

ET Finance Account Types

ET Finance offers three diverse types of accounts to suit clients’ individual needs.

Benefits of having an ET Finance account include:

An opportunity for cryptocurrency trading

Assistance from an account manager

Swap discounts

Trading signals

The usage of the MT4 platform

Tight spreads

There are a few drawbacks, however, including that ET Finance could be more competitive with their high inactivity fees, there is no FAQ or help section and the demo account can only be used for a limited time.

Leverage varies depending on the account holder. Silver account holders are limited to retail leverage rates of 1:30 on major and minor FX pairs, 1:20 on exotic pairs, gold, and indices, 1:10 on commodities, 1:5 on stocks, and 1:2 on cryptocurrencies.

Gold and Platinum account holders, if classed as professional traders, can access higher leverage rates up to 1:500 on forex pairs, 1:125 on indices and commodities, and 1:10 on company stocks.

This is because professional traders are not limited by ESMA regulations which cap retail leverage at 1:30.

ETFinance Account Features

Silver Account

The Silver Account has everything you need at the beginner’s stage to get started.

This includes 750 Assets, Minimum Spreads of 0.07, 1:30 Maximum Leverage, and full 10-hour support from 10 am – 8 pm GMT.

Gold Account

The Gold Account will suit clients who are more skilled in the markets. This account has spreads that start at 0.05, 1:400/1:500 maximum leverage, and comes with a dedicated account manager. You also get access to webinars and videos, hedging, and a swap discount of 25 percent.

Platinum Account

The Platinum Account will get you additional tools and is the complete choice for a seasoned trader. It offers 0.03 minimum spreads, 1:400 / 1:500 maximum leverage, a dedicated account manager, Webinars and videos, Swap discounts of 50 percent, news alerts, and a Free VPS.

The broker does not provide the option of opening an Islamic Account.

The minimum deposit required to open an account is $250.

Islamic Account

ET Finance does not offer Muslim traders who follow Sharia law the option of an Islamic Account.

ETFinance Demo Account

ET Finance offers traders the option of opening a Demo Account which can be utilized in many ways, including, but not limited to the following:

A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.

Traders who are evaluating and comparing brokers who would like to explore ET Finance’s trading conditions in a risk-free environment, and

Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

ETFinance Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which are seen as wasteful or exploitative.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

A broker usually offers its Islamic Account only to Muslim traders who follow the Sharia law. Traders must, however, take note that there are certain features indicated on the Islamic account which differ vastly from the individual account such as minimum deposit, spreads, and more.

Traders who are interested in registering for an Islamic account must contact ET Finance’s customer support to find out if such an account may be on the cards, as conditions may have changed from the time of writing.

These changes are as per the broker’s discretion and/or changes in market conditions.

ETFinance Pros and Cons

Conclusion

ET Finance provides three different account types e.g., Silver, Gold, and Platinum accounts. Each account type has its own set of conditions for commission, margin calls, leverage, and minimum deposits.

You might also like: ETFinance Review

You might also like: ET Finance Sign-Up Bonus

You might also like: ET Finance Minimum Deposit

You might also like: ET Finance Islamic Account

You might also like: ET Finance Fees and Spreads

You might also like: ET Finance Demo Account

Frequently Asked Questions

Trading Environment

How many instruments can I trade with ET Finance?

You can trade several different instruments with ET Finance, which include the following:

• Cryptocurrencies such as Bitcoin, Litecoin, and Ethereum.
• CFDs
• Metals
• Stocks
• Energies
• Commodities

Which platforms are supported by ET Finance?

ET Finance provides the following popular trading platforms:

• MT4
• WebTrader
• Mobile Trader

Does ET Finance offer leverage?

Yes, ET Finance offers maximum leverage of up to 1: 500.

What spreads can I expect with ET Finance?

ET Finance offers spreads on key forex pairs of 0.7 pips for the EUR/USD, 1.3 pips for the GBP/USD, and 0.9 pips for the EUR/GBP.

Does ET Finance charge a commission?

No.

Are there additional charges on the Islamic account?

Some brokers charge extra fees on Islamic accounts – either in wider spreads, additional commissions, or administration fees to make up for money that they lose by not charging overnight fees.

New Islamic traders should enquire about these special conditions or extra fees before joining, because it is often overlooked or not indicated on the account features pages.

Is ET Finance regulated and by whom?

ET Finance is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Is ET Finance a recommended forex trading broker for experts and beginners?

ET Finance offers the best trading environment for new traders, since experienced traders may want a wider range of instruments.

What is the overall rating out of 10 for ET Finance?

7/10.

Accounts

What is the difference between a demo and a live trading account?

A demo account as is offered by broker companies like ET Finance is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features.

Does ET Finance offer a demo account?

Yes.

Can I convert my demo account to a live trading account with ET Finance?

The demo account can only be used for a limited time.

Which live trading accounts does ET Finance offer?

• The Silver Account
• The Gold Account
• The Platinum Account
• Islamic Account

Does ET Finance offer an Islamic Account?

Yes.

What are the available deposit currencies for a live trading account?

USD and others.

Deposits and Withdrawals

What is the minimum deposit required to open an account with ET Finance?

$ 250.

How do you make a deposit and withdraw money with ET Finance?

ET Finance offers the following deposit and withdrawal methods:

• Credit/Debit Card
• Wire Transfer
• Some alternative e-wallets

The same method that was used to fund an account must usually be used to withdraw money again and monies will only be refunded to accounts that carry the same name as the trading account with ET Finance.

Does ET Finance charge withdrawal fees?

No, but fees from financial institutions may be applicable.

How long does it take to make a withdrawal?

ET Finance claims that withdrawals usually take only a few days. Traders should note however that, depending on the specific bank service, it may take several days for the money to be available in a client account.