The company we have chosen to be the protagonist of our review, presents itself as an online broker, widely known in different countries. To prove its global representation, the project has translated its website into several languages.
On the main page of its official website, the company writes that it was created to help ambitious people from different countries to realize their financial potential. What's more, to attract attention the faces of which are not just athletes, and not even just players of a famous basketball team, but representatives of the Spanish basketball club Real Madrid Baloncesto from the city of Madrid, which is the most titled club in Europe. ETFinance company declares everywhere that it is the official partner of the club.
The cover, of course, is spectacular and catchy, but the brokerage company itself, which is hidden behind it, is an absolutely untrustworthy pseudo-brokerage kitchen. This fact increases the level of trust in the eyes of only a small percentage of potential customers, and those who are not familiar with the methods that fraudsters often use to increase loyalty and raise the rating. Popular faces on a banner is not a reason to be fooled by all its advertising promises. Whatever fraudsters and their partners may say about themselves, in reality ETFinance is notorious in the financial market.
If you have read our objective review to the end, you will know what are the problems of ETFinance and why this project is considered unfair, fraudulent and simply unworthy of attention. It is strongly recommended for traders to avoid this company, not to believe their promises and never trust their money.
Types of trading accounts offered ETFinance
The ETFinance platform offers several types of trading accounts: Silver, Gold, Platinum. Under the name of each of them there are recommendations, for whom and which plan is intended, i.e. what level of skills or financial opportunities is worth paying attention to a certain plan.
The size of the minimum deposit to enter the ETFinance platform is 250 American dollars.
As a rule, this amount is indicated by scammers who, without the knowledge of their clients, i.e. traders, include third parties, i.e. intermediaries, in joint financial transactions. As a rule, it is one or more intermediaries, through whose accounts they "run" money to confuse financial traces. In reality, it looks like this: an investor who intends to fund a deposit account receives a link from a broker to transfer funds. However, the deposit often travels for a long time from account to account, so it is often impossible to prove that the funds have been transferred to the exact account number sent by the broker. Often clients find out about such schemes after they let themselves be deceived by swindlers.
ETFinance Trading conditions
In spite of numerous articles where the broker is enthusiastically attributing non-existent merits, the company's fame has an extremely negative connotation. It cannot be hidden or corrected, even if it has chosen to trade serious assets such as stocks, oil, cryptocurrencies, etc. on its platform as its main profile.
As soon as a client agrees to cooperate, the deceitful but aggressively persistent managers start pushing, using either benevolence or coldness, while the latter will flush money for non-existent earnings.
The scammers cleverly tuck users a site with "tweaked" attractive data as an advertisement. The vigilance of the trader is blunted, because he is allowed to be "in the black", they demonstrate that profit is possible. But no one warns that such positive trading will not last long. The result for ETFinance clients is the same: sinking of the deposit, loss of money, blocking of the account and complete disregard on the part of the broker himself.
If the trader begins to "sink" site managers describe the benefits of obtaining credit, arguing that the lack of financial capacity is not a reason to stop trading, because the trader is just at the threshold of serious profits. In other words, after the scammers drain the trader's money, they find a lot of arguments to bend him to make another payment. If the client refuses, the politeness of the swindlers vanishes and is replaced by a demand to open a loan. As a result, the credit amount is drained, and the client is left in debt to the site. Brazenly stealing from their customers, the scammers are certainly not going to "forgive" them.
In general, there are a lot of traps on the site, which inexperienced novice traders tend to fall into. Scammers have literally flooded the network not only with promotional videos, but also with articles, purchased reviews in the most popular social networks, as well as in search engines, counting on new victims.
ETFinance repeatedly seen in the refusal to withdraw money from users. Many users from different countries, who invested in the site, were convinced of this sad fact.
The exchange intermediary ETFinance has a special object of pride - as it says, its own development of a powerful platform for trading operations.
However, as traders point out, its quality is questionable.
If a client looks insolvent, the ETFinance scammers immediately "blacklist" him, i.e. make him guilty, and as a result may block the account altogether.
Scammers site ETFinance, in addition to being rude to customers who show resistance to their tricks, are the usual Internet thieves and deceivers.
By the way, the ability to withdraw money from ETFinance is not confirmed by real facts, and promotional information on the official website and in third-party commissioned articles do not count.
Every year online trading is gaining popularity among the solvent population of the planet. This fact contributes to the appearance of a large number of frauds.
For example, ETFinance, a company that positions itself as a reliable firm, raises many doubts. In order to verify the information, let's turn to its official website and see what the firm says about its legitimacy.
Doubtful information that is more like bragging. Fraudsters indicate that their brokerage project operates under an authentic license. They cite the example of several regulators, including European ones.
Let's check the veracity of the information on at least one of these regulators.
As stated on the website, the project operates under the name of another company.
The ETFinance website states that they already have considerable (4 years) experience in trading operations.
Let's see what the history of the domain of the site etfinance.eu tells us.
The information is negative and almost all data (date of registration, owners, etc.) is hidden by the right holder.
In reality the swindlers are regularly faking the results of deals and are filling their pockets with clients' money with impunity.
This proves that ETFinance, is one of the projects of its parent company Magnum FX. This is a popular practice among fraudsters in the field of trading: to open numerous fly-by-night projects, take users' money and simply disappear, formally hiding behind the license of one company, but not actually being responsible for the projects' actions.
Companies like ETFinance are difficult to prosecute, they are protected by an offshore zone and in fact formally do not accept financial transfers. In the event of problems, traders are unlikely to be able to document anything. Artful swindlers will always find excuses.
ETFinance Reviews online
A large number of users who have had negative experiences with the broker and mainly encountered problems with the withdrawal of their funds willingly share their conclusions.
To warn newcomers, through the prism of their own trials and errors traders inform other users about what actually hides behind the beautiful site, and what the office really is.
Contrary to the advertising, only after working with the site you can, for example, be surprised to note that the managers and consultants, who are trusted to communicate with clients, are totally incompetent and have no experience in trading. Scammers don't want to train their staff, because their main target is not to develop the platform, but to take as much clients' money as possible, that is why they need to be well informed not in the details of trading, but in cunning schemes of trickery. Such schemes abound in the stock of experienced scammers.
Swindlers only create the illusion of honesty and attention to their clients. The attitude changes dramatically after the client is caught in the net of swindlers.
This is what the deceived investors write about in their masses, as well as about the lost money.
In fact, the only way to fight such a shady company is to ignore it.
Safety and security of funds with ETFinance
Traders have no reason to trust ETFinance. A negative rating by real users, a multitude of paid-for articles, and the absence of normal activity regulation just make them evaluate the situation soberly so as not to regret the money they have lost.
ETFinance is not an influential brokerage company, but another one of the most ruthless crooks and scammers. To attract attention, the pseudo company did a lot: it put a respectable and popular Spanish basketball team on its "face", added trading in stocks, currencies (including digital), oil and CFDs to the list of client possibilities.
Bragging of having an official license, vast experience, in fact they do not have all this, because it's all the history of their parent company.
In reality, traders are faced with falsified transaction results and losing their deposits.