ETFinance Reviews 63

I want to thank the etfinance team for helping me with the set up of the account a first introduction to the metatrader platform. Very helpful not like other brokers where you never get a reply!

I was forwarded to Etfinance via a link on an add of BitcoinTrader.app. The day after the money transfer, I discovered the identity add fraud of BitcoinTrader.app and requested my money back.
ETfinance kept on calling in an attempt to change my mind. I explained to them that I wanted my money back because I did not trust them due to their connection with BitcoinTradersapp. Their manager said that they didn’t know anything about the scam of BitcoinTradersapp nor what traders do to get customers.
After some days I received my money back but they kept € 50,00. It seems that they are involved by keeping money from customer’s
who want their money back, eventhough I did not use the account for trading.

ET Finance will not stop phoning me. Despite me asking them to stop, they have phoned me from Amsterdam, Liverpool, mobiles and are now just making short calls to annoy me. They are a disgrace to the finance industry. Do not contact them if you want any peace.

I haven’t been long with them and I am not trade person but I learn something and I got little more than my money and quit. Overall I had good account manager who helped me very good.

I have lost almost 74k euro with trades I was recommended and lead into by my account manager, with the knowledge that I was not an experienced trader.
Repeatedly called by the account manager and persuaded to deposit more funds to trade and recover my losses. Convinced to open a professional trading account to recover lost funds by trading with larger volumes, and talked through the questionnaire answers to give in order to qualify as I was not an experienced trader.

The forex trades placed were advised late in the day and therefore needed to be left open overnight to profit from them as they opened with big negatives which I now know (having researched myself) is profit made by ETfinance. Also exotic forex trades advised on a Wednesday afternoon which I was not informed incurred a multiple swap with huge spreads. My account manager had even emailed me to advise me that closing the trades before the market closed was not a good idea!!!

By searching in FWA (forexpeacearmy) I found that there are different people that have had same issue with this company.
forexpeacearmy
fxempire.se
brokersrecomendados.com

ETFinance - MagnumFX CeSEC Licensed used Facebook advertising showing famous people making large sums of money to entice me into your system, then instructed an account manager to call me and over around a week I built up a friendship with my account manager, he made me feel that he was explaining everything, give me training, teaching me to ALWAYS reference using investing.com as an indicator on when and where and which direction to trade, then once ETFinance - MagnumFX had my trust and ETFinance - MagnumFX felt I was ready to be lured in, the account manager refered me to “the boss” ETFINANCE - MAGNUMFX told me he could help me get my money back that I had lost since opening my account, ETFINANCE - MAGNUMFX claimed to have a golden opportunity for me that was a 100% secure guaranteed return and with a £10000 investment I would make £12500, ETFINANCE - MAGNUMFX told me to invest £10000, then he would show me how to turn it into £12500 and I could return the £10000 back to where it came from.
After making me upgrade to a silver account (with a leverage of 500/1 which I did not understand or have explained to me) ETFINANCE - MAGNUMFX invited me to view his pc screen remotely, he showed me “investing.com”! Why I needed to see this remotely I wonder...? (investing.com a familiar page I thought! More fool me! I now know it was not really investing.com but a screen made to look like it, displaying incorrect data) ETFINANCE - MAGNUMFX then told me to make large volume (4.0) high leverage trades in a long trading direction (which I soon learnt was the opposite to the direction of the actual market trend!) 17/10/2019 @ 13:42 GPB/CHF - ETFINANCE - MAGNUMFX showed me investing.com showing this market saying 5 min: strong buy, 15min: strong buy, hourly: strong buy, Daily: strong buy...
I was also never explained about setting up stop lose (a vital tool for a beginner) or the extent or any mention of risk by ETFINANCE - MAGNUMFX... This is because ETFINANCE was in the full knowledge that it was going to make it look like it lost, in my opinion these trades had never really been made. These trades are also not evident in the trading logs on the MT4 system... but all the trades previous to these are, again I believe this is because these trades had never really been made… ETFINANCE - MAGNUMFX then called me back up to transfer more money to support the loosing trades in order to prevent me loosing my money, when I explained I could not afford any more money, he told me to borrow some! this is a tactic they use to squeeze every last dime out of the clients, I fell for it and transferred a further £2000, ETFINANCE then called me and told me to trade on exotic pairs minutes before you closed for the day telling me "we would see how they have done tomorrow", these pairs happened to have extortionate swap fees… again no warning of this, why else would you tell me to back them at the end of the day? Then before you left for the day you blocked my trading software so I was unable to set stop loses or close these trades, when I attempted to I was notified by your trading software that these markets were closed! Markets don’t close on a Thursday evening! I These markets were not closed and do not close in the middle of the week! Another manipulation to make me have no control or ability to stop the loses, as a direct result of my inability to close the losing trades, The GBP/CHF which reversed direction would have made substantial profits also collapsed due to my low margin, you had hoped I would believe this was due to a bad day at the office, but this is your fabricated process which is designed to extort money from innocent, inexperienced, unsuspecting, eager to earn and learn, clients that are feeding from your words of guidance in a world we want to learn but know nothing about.

After having a dispute with ETfinance, i contacted their support department and all has been settled amicabally. Thanks to Anabela M (support team)

ET Finance claim to be FX brokers with free advice and no commission. The only advice they gave was high pressure calls 10 plus times a day to make you deposit your savings. Firstly I paid £200, did a few trades, made about 10% in 2 days, and then I was subjected to the most intense phone calls and emails to deposit a futher £5000. I said no, they kept hassling me. The pressure calls were astonishing, call after call from various different numbers. I did further research on this company, checked their FSA registration and yup your funds are not protected. Etfinance.eu offer some of the worst spreads, in other words you can buy and sell with better profits elsewhere. I then asked etfinance.eu to close my account and return my balance. Etfinance.eu refused. Etfinance.eu claimed they needed to keep my funds for commission?!

This company is only after your money BEWARE. Withdrew £200 and they charged me £45 to withdraw. Stay well clear. I hadn't even traded, day 1 deposited the cash, day 2 tried to close the account and withdraw my funds. Totally out or order.