Eternal Finance – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Eternal Finance - DO NOT TRADE WITH THIS PROVIDER
2.2/10
$100
Minimum Depositupdated 2024
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://eternalfinance.co
Founded: 2024
Regulations: None
Languages: English, French, German, Japanese, Romanian, Spanish, Turkish, Portuguese
Deposit Methods: Cryptocurrencies
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: 300+
Types of Assets: Commodities, Indices, Stocks, Forex
Trading Accounts and Conditions
Eternal Finance offers their clients the following types of trading accounts:
- Starter: $250 is the minimum deposit you need to make. You get to trade with 50+ assets. Leverage is up to 1:30. There is a Welcome Bonus of 5%.
- Medium: $5,000 is the minimum deposit you need to make. You get to trade with 130+ assets. Leverage is up to 1:80. There is a Welcome Bonus of 10%.
- Large: $20,000 is the minimum deposit you need to make. You get to trade with 180+ assets. Leverage is up to 1:150. There is a Welcome Bonus of 15%.
- Advanced: $40,000 is the minimum deposit you need to make. You get to trade with 250+ assets. Leverage is up to 1:170. There is a Welcome Bonus of 20%.
- VIP: $50,000 is the minimum deposit you need to make. You get to trade with 300+ assets. Leverage is up to 1:200. There is a Welcome Bonus of 25%.
Spreads are only mentioned as tight, and the order execution time is 0.05s.
Eternal Finance – Advantages
There are no advantages to trading with Eternal Finance.
Eternal Finance – Disadvantages
All of the disadvantages we have listed below tell us clearly that Eternal Finance is a scammer and that dealing with this broker would lead to traders’ loss of funds:
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Anonymous Broker
The first issue we find with Eternal Finance is that this broker is operating completely anonymously. Nowhere on their website does this broker mention where they are located, who their parent company is or which financial authority has permitted them to operate their online brokerage. Even their legal documents are generic, with no company name, location or contact details mentioned anywhere.
In fact, it was after a thorough search that we were able to unearth a single reference to Poland as the country in which this broker may be registered.
A broker is required by law to present all their corporate details: their company name and address, their contact details, and their license and regulation information. This allows you to check that company’s credentials, and it also lets everyone know whether they are a legitimate brokerage or not.
An anonymous is clearly unregulated and operating under the legal radar, which means that they are scammers. And since Eternal Finance is doing exactly this, we can say for certain that we are dealing with a scammer here.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Warning from CNMV
The Spanish financial authority, the CNMV, or the Comisión Nacional del Mercado de Valores, has issued a warning against Eternal Finance on their website.
This warning states that this broker is operating illegally in their country, Spain. Spain is a part of the European Union, and has to follow the stringent laws put in place by the Union. This means that if this authority has banned a broker, then they are definitely scammers.
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Poor Trading Platform
On their website, Eternal Finance boasts of offering their customers a powerful platform, one that is browser based and mobile. The broker also claims to offer clear and convenient charting tools, risk analysis tools, protective orders, and advanced intraday and historical charts.
All of these claims are unfortunately lies. What you actually get is a basic, web-based trading platform that may or may not be powered by TradingView. There are hardly any tools to help enhance the trading experience. In fact, the most you can literally do with this platform is buy and see a limited set of assets.
A broker’s mainstay is their trading platform, so legitimate entities will ensure they offer their clients the best software in the market for trading. When a broker compromises with the quality of their trading platform, then you know that they cannot be trusted.
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Issues with Trading Conditions
The service offering that goes hand-in-hand with a trading platform is the broker’s trading conditions. These trading conditions are what tell a trader whether it would be advantageous to trade with a broker or not. They will tell you the cost per trade, the risk levels you are allowed, the time it takes to execute an order, the types of assets you have, the types of accounts (with associated trading conditions) you can choose and so on.
When a broker compromises on these service offerings, then once again, you know that you are dealing with an entity you cannot trust.
With Eternal Finance, we see that their spreads are not specified; using the tight spreads is not a good enough explanation of spreads. The leverage is also much too high and risky; these leverage levels are illegal in the EU, which is the region targeted by this broker.
Other trading conditions are also incomplete.
All of this tells us that Eternal Finance is not a trustworthy broker.
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Single Payment Method
On their website, Eternal Finance displays multiple payment providers’ logos – Wire Transfer, Bank Transfer, MasterCard, Visa, Maestro. However, when we checked their payments portal, we found out that this broker offer only one types of payment option: cryptocurrencies.
There is a concern in two ways. A single payment option tells us that a broker is not flexible and open to what the customers need. And secondly, scammers are the only ones that will offer cryptos as a single payment option.
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No Withdrawal Policy
Another issue is that this broker has no withdrawal policy in place, which means we don’t know how much is the minimum and maximum withdrawal amount, whether there are withdrawal conditions or if there are withdrawal fees.
Conclusion
Eternal Finance is yet another scammer out to con as many traders as possible before they are shut down. It would be best not to trust them.
Eternal Finance
Pros
- None
Cons
- Anonymous Broker
- Warning from CNMV
- Poor Trading Platform
- Issues with Trading Conditions
- Single Payment Method
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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