✔️ Information reviewed and updated in April 2024 by Pedro Martínez González
In this section we will tell you why You should NOT invest in ETFinance. We analyze the website, we observe every detail and we examine the main characteristics that are taken into account when choosing a good broker such as the location, the company to which it belongs, its regulation, its reputation…
A pocas palabras WE DO NOT RECOMMEND IT. Below we will show you essential information about ETFinance and we will tell you why we came to such a conclusion:
Basic Information
| 🌐 Website | etfinance.com | etfinance.eu |
| 🏠 Company* | Magnum FX (Cyprus) Ltd |
| ️ Regulatory | CySEC |
| [email protected] | |
| 📈 Leading | MetaTrader4 (MT4) |
| 📌 Direction | Cyprus |
⚠️ ETFinance is owned by Magnum FX (Cyprus) Ltd, the company is located in Cyprus, a potentially dangerous tax haven for its clients due to its lack of regulation and lack of seriousness. Clients are unprotected. The company is located in a very unsafe place, be careful. ⚠️
Account types
Now we move on to analyze the account types that ETFinance offers, in this case, we note that it does not offer account types.
Information on the web
ETFinance provides an explanation on the products that ETFinance offers, explanation on basics of the investing world, really not much more than this, some live charts, really not much more than this.
List of phone numbers
- +8006 003 7004
- +357 25 053 547
🚫 ETFinance Final Valuation 🚫
Finally, and in a few words, our recommendation is: DO NOT INVEST WITH ETFinance.
As we mentioned before, it is a financial company located in a place where you will not have protection from the law in case of being harmed, that is, you will not be able to claim anyone if an unfortunate event occurs such as the sudden loss of your funds or the closure of the company.
In case of problems, it is most likely that the authorities of your country will not be able to do anything. As a client of this company you are unprotected!
Investing with unregulated brokers or brokers based in such countries is very risky. It is best to invest with a regulated broker, based in a serious country.
Updates
News about ETFinance:
| Date | Update – news |
|---|---|
| January 2023 | At the moment we have no news to share. |
User Reviews
What is your opinion? We invite you to collaborate with us and vote. You can also leave a comment about your experience with ETFinance.
At the end of the review you will find customer comments.
How to Claim Money Scammed by ETFinance
If what you want is to know how to claim your capital, if you have been scammed, further down in the FAQ section you can find our advice.
How to Report ETFinance
If you feel dissatisfied with the service provided by the company, and for some reason you want to report it, below, in the FAQ section, you can find the best way to report this company.
FAQs
How can I report ETFinance?
This depends on where you are, you should go to the financial regulator in your country. Write us a comment on this review and we will help you.
Is ETFinance a scam – is it a scam?
Yes. We believe that ETFinance is Scam. We have received messages from clients who mention not being able to withdraw their capital, this added to other very negative characteristics of the company.
Is ETFinance reliable?
No. ETFinance is not reliable, it is a very unsafe company: 1) is based in unsafe countries, 2) has a very bad reputation 3) has a lot of complaints 4) It is a relatively new broker without seniority. These characteristics make the company very unreliable.
How to recover money from ETFinance?
If you want to know how to recover your capital, you can see it here. We explain in detail the process of recovering money from a scam company, step by step.
Are there (recommended) alternatives to ETFinance?
Yes, of course there are better and safer options! You can see here the brokers we recommend: ranking of the best brokers.
It is a complete scam. They do not care about you, they are only interested in you putting capital and opening operations for them to collect commission. They really cheated me like a fool for a lot of money and even so they are heavy. They kept asking me to enter more.
Honestly, this is the biggest mistake I've ever made in my life.
YOU WILL NEVER HAVE AN ACCOUNT WITH THEM
Hi Angel, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through… Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.
Hello Angel. We want to thank you for telling us about this case, it is a great source to be able to investigate and give you an assertive response to what you express. Please, to be more detailed write us by email [email protected] or contact our telephone line: +357 25359939. ETFinance.
This is the message I'm supposed to reply to:
Dear Manuel:
As a leading financial institution, we take many steps to ensure the safety and security of your transactions. Due to this, our clients who deposit more than $1000 to the trading account or those who make more than three deposits are required to provide the verification procedure.
To do this, please provide us with the following documents:
Declaration of Deposit (DOD)
The main purposes of this statement are to prevent money laundering and to confirm that you have made certain deposits into your trading account.
To fill out the Declaration of Deposits:
Print the attached document;
Please sign the box next to each transaction you make and also at the bottom of the page;
Upload a copy of the document to your client area or send it to [email protected]
To confirm the transfer method:
When making a deposit with a credit or debit card:
Color copies of the credit card (front and back) that you used to make a deposit.
The following must appear on the copy of the front of the card: expiration date, first and last name, bank name and the last 4 digits of the card number. The first 12 digits of the card number must be covered. All information, as well as the 4 corners of the card, must be clearly visible.
The following must appear on the back of the card: the signature must be visible in a special field and the CVV code must be hidden. All information on the card, as well as the 4 corners, must be clearly visible.
If you have additional questions or requests, please contact our customer service.
Sincerely,
Darina Y.
Customer Service.
In your place we would talk to CYSEC. And also send emails to ETFinance requesting a withdrawal, so there is evidence that you have requested them.
Greetings.
Manuel, if you have managed to withdraw your money, how exactly have you done? Who have you contacted to request the withdrawal of your capital? Could you provide any contact? Thank you very much and I'm glad you got it…!
PEDRO GARCIA. Please, if you have been able to get your money, tell us how.
Tell us the steps you followed, what they ask of you and how you did it. That way you would help us more.
For example, having invested more than €1000, I have received this email that I copy and paste from this address asking for a photocopy of the card and some other information. Do I have to reply to this message to get a refund? is that the requirement? Is this message also illegal in terms of asking for abusive data, or not?
I would like to have an answer before answering it or not and trying to get my money.
On the other hand, gentlemen of recommended brokers, do you recommend that we contact CySEC? But, what is that and how do we contact?
Thank you.
NOTE: I paste the email I'm talking about in another message so as not to saturate.
CYSEC is the regulator of ETFinance, Cyprian regulator, according to Recommended Brokers it is a bad regulator, but you can talk to them about your problem with ETFinance https://www.cysec.gov.cy/en-GB/cysec/contact/
I tell you that in your place I would try
Hello Manuel, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through... Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
About the withdrawal, because we do not know what you have signed or accepted, so it may be a requirement. CYSEC is the financial regulator of Cyprus, where ETFinance is supposedly based, in case you have complaints or problems you have to contact CYSEC and see if they help you, in our opinion they are not a good regulator, but in your place we would contact them at see what happens, for reasons like this we recommend only working with brokers regulated in serious countries. In this type of brokers you request the withdrawal and withdraw, without so many problems.
Greetings.
They made me ask for a loan and they lost everything, nobody in the company is responsible for the investments that made my account go bankrupt. They say it was me, but they told me what operations to do. I don't recommend them at all.
Hello GM, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through… Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.
Hello GM. We want to thank you for telling us about this case, it is a great source to be able to investigate and give you an assertive response to what you express. Please, to be more detailed write us by email [email protected] or contact our telephone line: +357 25359939. ETFinance.
Good morning, through an advertisement I got the ET Finance broker. I wanted to trust him. I deposited €1.000 because it was the minimum. The next day an advisor calls me telling me that since I start I have to start in good manners and that I will surely earn more so I paid 10.000. I told him that first before operating I wanted to talk to a boss and see if they were trustworthy I wanted to try making a withdrawal of funds to my bank account and he told me that there was no problem that his boss could be done and he would call me in a few minutes . I took his word for it and he told me that as long as we started trading... he told me where to click and what quotes to buy and sell. the boss in the end did not call me. Within a few hours I lost all my money, the market ate it up. They have called me again insisting that to recover the lost money I have to pay them between 5/10/15 thousand more... I do not recommend the company at all to people who start from 0 and do not understand this world. All in all, a very bad experience.
Hello Sergio, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through... Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.
Hello Sergio. Thank you for letting us know your concern and concern. We at ETFinance are a CySec regulated company. Therefore, it requires us to ensure the reliability of our advertising and that it complies with everything allowed. It would be of great help to us if you can share the source of this information through our email [email protected]. or contact our telephone line: +357 25359939. ETFinance.
Good afternoon Alfonso, how can we contact you? A very close relative has been scammed of a large amount of money.
Hello EVF, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through… Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.
Hello, it is interesting what I read. I have started with a company called mcoinmarket (or platform) this week. I have put very little money, 300 euros, more out of curiosity and thinking that it was something else. Indeed, he has started calling me a "trainer" every day, and apparently I am making a good percentage of profit, which I no longer know if that is real or manipulated. I have tried to find out about mcoinmarket but there is not much, if you know something about it I would appreciate it if you shared it. Curiously, yesterday they changed my password and suddenly I received a welcome message to ETFinance...all very little transparent. Every day he insists that I put in more money of course, which I am not going to do, of course. What I am going to try is to withdraw the money on Friday to see what happens, and I will tell you.
Hello Verónica, thank you very much for sharing your experience with ETFinance. Do you have the website of this mcoinmarket? How did you come to this company?
Regarding the benefits, the benefits are useless if you cannot withdraw them. That is to say that they opened an account with ETFinance without telling you anything? Is your money now with ETFinance?
Greetings.
Right now I'm asking the supposed broker... let's see what he answers. He replies that it's not Mcoinmarket's thing, that etfinance are scammers... that he thinks it's weird and that he should forward the email that he's going to look at it. Do you have any MCOINMARKET reference, which is the one I am theoretically operating with? As soon as the broker answers me, I'll tell you
Be careful because after analyzing this company (we recommend you read the analysis mentioned in the other message), we are even more concerned, it is a broker that seems to be very unsafe.
Greetings.
mcoinmarket.com
This is the page
Hello Verónica, you can leave your doubts or experience in the section on Mcoinmarket (and read our analysis).
Greetings and thanks for the information.
It is a real scam like a cathedral, they do nothing more than ask you and ask you for money, money that you will never recover, not even for all the Saints in Heaven invest in these scammers or you will lose all the money you put in, down to the last penny
Hello Pedro, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through... Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.
Hello, I was also scammed, and it is true that they are always asking you for money and they make you ask for loans, in my case I asked for it but luckily the bank never approved it, they were very insistent with the loans and deposits
It is also worth saying that I was never able to withdraw, they collapsed my entire account until it was at 0
I do not recommend them at all, I have emails, telephones, deposits, everything to verify everything I say
Hello J. O E., thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through… Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.
Hello Joe". Thank you for letting us know your concern and concerns. We at ETFinance are a CySec regulated company. Therefore, it requires us to ensure the reliability of our advertising and that it complies with everything allowed. It would be of great help to us if you can share the source of this information through our email [email protected].
Hello, the same thing happened to me. I can't withdraw funds. Alfonso. Could I talk to you privately?
Hello Loly, thank you very much for sharing your experience with ETFinance, we are really sorry for what you have been through… Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisors, emails?
Greetings.