✔️ 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.
Hello everyone,
My sister has been a victim of these scammers, they took everything from her. I'm not going to stop until these ruthless pay up in every way. The important thing for our case to go forward is to report it, no matter how little the amount was scammed, and if we get together we can do something, even if it is to prevent other people from being scammed in the same way. If you are interested in fighting my contact is: [email protected]
I will inform you how to contact the lawyers who bring the issue to a few scammed people.
regards
Hello ALFONSO, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you... Can you tell us more about your experience with this company? Do you remember how you came to find them?
Greetings.
Many of us have been caught...
They are scoundrels...
I have lost my savings, they give you wrong advice and when the losses accumulate they convince you to deposit again and have liquidity and when you neglect, all the operations are closed in negative and you lose everything. In a very short time the losses are enormous.
You look desperate and they convince you again to deposit and recover the lost. I have had a really bad time and I am already resigned to accepting the loss.
My question is, I have not signed the receipts for the deposit that they send by email, I don't know if there are possibilities out there.
Thank you very much Alfonso, I send you a private email.
Hi Isa. 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.
Hi Alonso. We regret that you have that perception about us, as every company we have policies within which the processes of withdrawal of funds apply. We invite you to review our terms and conditions as they clarify that we have a charge as a withdrawal commission. In the following link you will find our withdrawal and refund policy: We want to clarify your doubts, so we invite you to contact us at the telephone line: +357 25359939 By or write to our customer support address [email protected]. ETFinance
It is simply impossible to withdraw, if someone could not explain to me why I have tried everything and I cannot, they are professional liars
Hello PRVO, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you… Can you tell us more about your experience with this company? Do you remember how you came to find them?
Greetings.
They are scammers, I arrived due to misleading advertising and deposited the minimum 215 eu, two days later I realized the scam and it was impossible to recover, I don't know if anyone knows how I can cancel the account since I consider the money lost
Hi Miguel, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you… Can you tell us more about your experience with this company? Do you remember how you came to find them?
Do you have this advertising or can you describe it at least? What happens when you try to withdraw your capital? Remember that although the ETFinance regulation is not good, it is still a regulation, in this case from Cyprus, from CySEC (Cyprus regulatory body), you can try to contact CySEC to see what happens. We remain attentive to your situation.
Greetings.
Good afternoon, trusting an ad about Fernando Alonso, silly me, I clicked and clicked on the link that redirected me to a page where I formalized my account. They asked me for my information and all the numbering of a credit card. Soon I got angry and I responded to an email that they sent me welcoming me, I told them that I was canceling my account, they replied that ok, that cancellation was done. Logically I am uneasy, what should I do? Thank you so much.
Hi Maria, thank you very much for the information about your experience with ETFinance, do you have this ad you mention just in case? About being uneasy, what card details did you give them? If you have given them all the data (such as those necessary to make a purchase or deposit) in your place, then we would cancel that card, just to be sure.
Greetings.
Hi Maria R. Thank you for letting us know about your concerns and concerns. At ETFinance we are a company that is regulated by CySec. Therefore, it requires us to ensure the reliability of our advertising and that it complies with everything allowed. We as a company are not part of the advertising that is mentioned, so 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.
If you're okay with giving up control of your money to Latinos whose control body is an entity from Cyprus…go ahead!
Hello Raúl, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you... Can you tell us more about your experience with this company? Do you remember how you came to find them?
Greetings.
Hello Raul. We would like to inform you that the company is authorized and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) and has authorization number 359/18. The Company's head office is located at 79 Spyrou Kyprianou, 1st floor, 3076, Limassol, Cyprus. To learn more about us, please contact us at the telephone line +357 25359939 or through our email [email protected]. ETFinance
Hello,
I would like to know if anyone has been able to withdraw the money invested in ETFinance... I put in €1700, they told me that I could take it out whenever I wanted and now NOT because it is all in foreign exchange market operations... They insisted on putting more money in because that way I would have a more stable account if it reached €5000, a Silver account, they told me. Now that I have told them that I am going to operate with what I have, they no longer call me half as often as before. I want to know if there is a way to get the money back!?
Hello Jasmine, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you… Can you tell us more about your experience with this company? Do you remember how you came to find them?
About withdrawing, in a serious broker you make the withdrawal without asking anyone for permission. Being a regulated company, although regulated with a not very good regulator (CySEC), but regulated anyway, you can try contacting the regulator directly (CySEC) and tell us the results.
Greetings.
I also contacted them through misleading advertising... and from there the scam started...
I have sent an email to the regulator but there has been no response...
When I have gone to file a complaint I will tell you more...
Since I told them that I was not going to put in more money, they have stopped calling me, before they could call me up to 11 times if I did not pick up the phone...
Hello Jasmine, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you… Can you tell us more about your experience with this company? Do you remember how you came to find them? Can you describe this advertisement? Are you sure you sent the email to the correct regulator (CYSEC)? It is rare that they do not even answer you, although we believe that it is not a good regulator.
Greetings.
In a regulated broker can you withdraw all your money initially invested even if you have open operations that have a negative balance?
This already depends on each broker, terms and conditions, for this reason we only recommend regulated companies with regulators that we consider to be serious, we do not consider the Cyprus regulation to be a good one. Try to close positions and withdraw in any case.
The news I saw was one of Risto being interviewed at El Hormiguero. And another from a journalist who had tried this system and was delighted to have invested €200 and earned €4000 in a short time... and in this same article there was a link to register as an interested party. The minute I wrote my phone they already contacted me.
You don't have the link to that news right? It was probably a fake.
Hello everyone. I opened an account on 23.08.19 and as soon as I did, they were calling me. I have deposited the minimum 215 euros. Although I told them that first I wanted to familiarize myself with trading with the DEMO account, they explained to me how to open orders with the LIVE account. This person, a certain Oscar, told me where to open the purchase orders that were going to be more profitable according to investing.com. As of today, of the 4 open orders, he has only rented me one, which I closed as soon as I saw it positive. The rest are in a tailspin and with losses.
Since I was interested in investing in bitcoins, there they saw the reef with me. They asked me to invest 10.000 euros, which was an opportunity that should not be missed. I refused, citing that this was a significant sum of money to invest, being a rookie.
Well, after reading them and how annoying they are getting, calling me 3 and 4 times every day, I'm going to have to make the decision to join those trying to get the money back. For my part it is an amount that I can assume and give up, but you never know.
Thank you all.
Hello Proteo, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you... Can you tell us more about your experience with this company? Do you remember how you came to find them?
Greetings.
Hello Proteus. We regret that you have that perception about us, as every company we have policies within which the processes of withdrawal of funds apply. We invite you to review our terms and conditions as they clarify that we have a charge as a withdrawal commission. In the following link you will find our withdrawal and refund policy: We want to clarify your doubts, so we invite you to contact us at the telephone line: +357 25359939 By or write to our customer support address [email protected]. ETFinance
I'm Irene, from Madrid, these characters cheated me of more than €19.000. I don't know how they got my phone number, and after calls and calls they finally convinced me. When the money came in, at first they called me to put in more, but when they realized that I couldn't have more money, that's when I lost everything.
About ETFINANCE there are already open investigations by the National Police, because they taught us when we went here in Madrid to file the complaint:
This page is the trademark of MAGNUM FX (CYPRUS), domiciled at 79 Spyro Kyprianou, Cyprus, and operates under registration number 360548 and has license 359/18 obtained in June 2018.
In addition, they are also the same as that of http://www.magnumfx.eu with address at 2 Riga Feraiou, 2nd Floor, office 201-203, 3095, Limassol.
And from the research that we have already done, it appears that it is related to other trade scams such as MO TRADING
They contacted me from several phones, some Spanish and other foreigners such as: + 357 25359939, +357 25 030975, and the people who called me called themselves Diana Y, Noelia O, Maria, Moises Maldonado
These people are professionals of this, who use a page and when they burn it, they open another one and continue with the same thing (sometimes they even use the same names), so collaboration between those affected is very important, to gather the maximum number of possible tests (because in some cases they can use a mobile or phone that can be located, a personal email, or the bank account where the transfer is made)
The good news, talking to the lawyers, is that they are now also registered in Spain, with the CNMV, under the registration number 4636, so both the Police and the lawyers told us that this was very good, since both the CNMV such as CYSEC (which is the Cyprus body that controls them) guarantee a part of the money (up to €20.000 per victim).
That's why it's so important to unite and take down these scammers. We are already 2 victims and we are looking for more, please if you are in our situation contact me: [email protected]
Hello Irene, thank you very much for sharing your experience with ETFinance, we are very sorry for everything that has happened to you... Can you tell us more about your experience with this company? Do you remember how you came to find them?
Regarding CYSEC, we don't trust this regulatory body much, but it is definitely better than a broker without any regulation. We remain attentive to your messages, that is, whether or not you can recover your money.
Greetings.
Good morning:
I just looked at my account and they refunded me properly and quickly, it took two/three business days.
The only thing I have done is reply to the message that I copied here, and reply to another message that asked me for the TIN number (it is the NIF, in this case, the DNI). Nothing else. I asked my bank for the data that ETFinance requires in the withdrawal request, I filled in the fields with that data and that's it. All perfect.
Of course, be very careful because they seek our money, more and more, to obtain better commissions and I have the feeling that most of the movements that they advise us are unsuccessful in the sense that they have the information on our movements and act by investing accordingly. opposite way to earn money.
Thanks to you I realized it in time and despite being new to investing I got the hang of it right away. Thanks to that I have only lost less than €50 and because I insisted on leaving and I did not wait a few more days to have the operation positive. At least I have an experience and I have started in a field that I will surely continue exploring 😉
Thank you all for sharing your experience.
Hello Manuel, thank you very much for sharing your experience with ETFinance… It will surely be of help to many people with problems when withdrawing with ETFinance.
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 Clau, thank you very much for sharing your experience with ETFinance… Can you tell us more about your experience with this company? Do you remember how you came to find them?
Greetings.
Hello Clau. 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.