ETFinance

ETFinance is the trading name of MAGNUM FX, a Cyprus-based brokerage established in September 2016. The official domain, etfinance.eu, was registered in July 2018. The firm is registered in Cyprus and holds a Derivatives Trading License (STP) from the Cyprus Securities and Exchange Commission (CYSEC) under license number 359/18.

As an STP (Straight-Through Processing) broker, ETFinance routes client orders directly to liquidity providers without dealing desk intervention. This structure is designed to offer transparent execution and reduce potential conflicts of interest. The company’s founding date, according to corporate records, is July 10, 2019.

ETFinance is regulated by CYSEC, which is a competent authority within the European Union. The license, number 359/18, authorises the firm to provide investment services including reception and transmission of orders, execution of orders on behalf of clients, and dealing on own account in derivatives.

Being under CYSEC supervision means the broker must comply with MiFID II rules, including client fund segregation, negative balance protection, and leverage restrictions for retail clients. The maximum leverage for retail accounts under CYSEC rules is 1:30 for major forex pairs, which aligns with the Silver account details in our records.

Our records indicate three account tiers: Silver, Gold, and Platinum. The Silver account offers a maximum leverage of 1:30, consistent with CYSEC retail limits. The Gold and Platinum accounts both provide leverage up to 1:200, which may indicate professional client classification or higher-tier status.

The minimum deposit for all account types is not specified in our available data. Typically, brokers with multi-tier accounts differentiate by spreads, commissions, or additional services. Without independent confirmation, traders should verify these details directly with the broker.

The specific instruments offered by ETFinance are not detailed in our records. As a CFD broker, it likely provides forex, indices, commodities, and stock CFDs, but this cannot be confirmed from independent sources. Platform information is also unavailable, though most CYSEC-licensed brokers offer MetaTrader 4 or 5, along with proprietary or web-based platforms.

Traders should note that the lack of public information makes it difficult to assess the breadth of product offerings. Direct inquiry with the broker or a demo account trial is advisable.

ETFinance maintains a presence on Facebook, Instagram, LinkedIn, Twitter/X, and YouTube. Social media activity can provide insight into broker engagement and educational content, but it is not a substitute for regulatory due diligence.

Our web search revealed that the official domain etfinance.eu currently hosts a French-language finance blog with articles unrelated to forex trading. This discrepancy raises questions about whether the site is actively maintained as a brokerage portal or has been repurposed.

FXCanary has assigned ETFinance a Scam Risk Score of 33 out of 100, categorised as 'Guarded'. This score reflects several risk factors, including the lack of independent user reviews, the discrepancy between the official site’s content and expected broker operations, and limited publicly available information about trading conditions.

A guarded score suggests that while no immediate red flags have been confirmed, traders should exercise caution and conduct thorough due diligence before committing funds. The absence of reliable third-party feedback is a notable concern.