Errante Forex Broker
Basic Information
Seychelles
5-10 years Regulated in Cyprus Regulated in Seychelles Market Maker (MM) Retail Forex License MT4 Full License MT5 Full License cTrader Self-developed High potential risk Offshore RegulatedCompany profile
Rating Index
Pros
Well-regulated by CySEC and FSA, providing a level of trust and security for traders.
Low minimum deposit requirement of $50, making it accessible for beginners.
Offers a variety of trading platforms (MT4, MT5, cTrader) and supports copy trading, catering to different trading preferences.
Cons
Limited selection of educational materials, which may hinder novice traders seeking guidance.
High minimum deposits required for accounts with better trading conditions, potentially limiting options for smaller traders.
Average spreads and lack of transparency regarding trading costs, making it difficult for traders to assess overall expenses.
Errante Forex Broker - Complete Information Guide
1. Broker Overview
Errante, established in 2019, is a prominent online trading platform that has quickly made a name for itself in the financial markets. The broker is headquartered in Mahe, Seychelles, with a significant operational presence in Limassol, Cyprus. It operates as a private entity and is not publicly traded. Errante primarily serves retail traders, offering access to various financial markets, including forex, commodities, indices, and cryptocurrencies.
Since its inception, Errante has reached several important milestones, including regulatory approvals and the launch of multiple trading platforms. The company is known for its commitment to transparency and client security, ensuring that traders receive a reliable trading experience. As part of its mission, Errante aims to provide innovative trading solutions and exceptional customer support, catering to both novice and experienced traders.
Errante operates under a No Dealing Desk (NDD) model, providing direct market access to its clients and ensuring competitive trading conditions. This approach allows traders to execute their strategies with minimal interference from the broker, enhancing the overall trading experience.
2. Regulatory and Compliance Information
Errante is regulated by two major authorities: the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). The regulatory license numbers are 383/20 for CySEC and SD 038 for FSA. The dual regulation ensures that Errante adheres to strict compliance standards and provides a secure trading environment for its clients.
The licenses are valid for the duration of Errante's operations, subject to periodic reviews by the regulatory bodies. The broker maintains separate legal entities for different regions, ensuring compliance with local laws. Errante implements robust client fund protection policies, including the segregation of client funds in top-tier banks, which minimizes the risk of misuse.
Additionally, Errante participates in the Investor Compensation Fund (ICF), which protects clients' investments up to €20,000 for CySEC clients and offers insurance coverage of up to €1,000,000 for clients under the FSA regulation. The broker strictly follows Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to ensure the integrity of its operations.
3. Trading Products and Services
Errante offers a diverse range of trading products, catering to various trading strategies and preferences. The broker provides access to over 120 tradable instruments, including:
- Forex: Traders can access over 50 currency pairs, including major, minor, and exotic pairs.
- CFDs: Errante offers a selection of Contracts for Difference (CFDs) on indices, commodities, stocks, and cryptocurrencies.
- Indices: Traders can speculate on major global indices, including the S&P 500, NASDAQ, and FTSE 100.
- Commodities: The broker provides access to popular commodities such as gold, silver, crude oil, and agricultural products.
- Cryptocurrencies: Errante allows trading in several cryptocurrencies, including Bitcoin, Ethereum, and Ripple.
The range of products available is regularly updated, with new instruments added based on market demand and client feedback. Errante primarily focuses on retail trading services, although it also offers tailored solutions for institutional clients, including white-label services and managed accounts.
4. Trading Platforms and Technology
Errante supports multiple trading platforms, ensuring a flexible trading experience for its clients. The platforms available include:
- MetaTrader 4 (MT4): A widely used platform that offers powerful trading tools and automated trading capabilities through Expert Advisors (EAs).
- MetaTrader 5 (MT5): The successor to MT4, MT5 provides advanced analytical tools, a more extensive range of order types, and enhanced charting capabilities.
- cTrader: Known for its intuitive interface and advanced trading features, cTrader is favored by traders who require sophisticated technical analysis tools.
Additionally, Errante offers a web-based trading platform, allowing traders to access their accounts from any device without downloading software. Mobile trading apps for both iOS and Android are also available, ensuring that traders can manage their accounts on the go.
Errante operates on an Electronic Communication Network (ECN) model, which facilitates direct market access and fast order execution. The broker's servers are strategically located to minimize latency, enhancing the overall trading experience. Automated trading is supported across all platforms, allowing traders to implement their strategies seamlessly.
5. Account Types and Trading Conditions
Errante offers a variety of account types to cater to different trading needs:
- Standard Account: Requires a minimum deposit of $50 with spreads starting from 1.5 pips and no commissions.
- Premium Account: Requires a minimum deposit of $1,000 with spreads starting from 1.0 pips and no commissions.
- VIP Account: Requires a minimum deposit of $5,000 with spreads starting from 0.8 pips and no commissions.
- Tailor-Made Account: Requires a minimum deposit of $15,000 with customizable spreads starting from 0.0 pips, but commissions apply based on trading volumes.
All account types support a minimum trade size of 0.01 lots and offer swap-free options for Islamic traders. The leverage offered varies by account type and asset class, with maximum leverage up to 1:500 for non-EU clients and 1:30 for EU clients.
Errante also implements a margin call policy set at 100% and a stop-out level of 20%, providing traders with a clear understanding of their risk exposure.
6. Fund Management
Errante supports a wide range of deposit and withdrawal methods, making it easy for clients to manage their funds. The available methods include:
- Bank Transfers: Standard processing time of 2-4 business days.
- Credit/Debit Cards: Instant processing for deposits and 1-3 business days for withdrawals.
- E-Wallets: Instant processing for deposits, with withdrawals processed within 1 business day. Popular e-wallet options include Neteller, Skrill, and Sticpay.
- Cryptocurrencies: Deposits are processed instantly, while withdrawals typically take up to 2 hours.
The minimum deposit requirement is $50 / €50, making it accessible for traders of all levels. Errante does not charge fees for deposits but applies a 1% handling fee for certain withdrawal methods. Additionally, an inactivity fee of $15 is charged after five months of no trading activity.
7. Customer Support and Educational Resources
Errante prides itself on providing excellent customer support, available 24/5 through various channels, including:
- Live Chat: Instant support available on the website.
- Email: Clients can reach out to support via email for more detailed inquiries.
- Phone: A dedicated support line is available for urgent matters.
The customer support team is multilingual, ensuring that traders from different regions receive assistance in their preferred language. Additionally, Errante offers a comprehensive FAQ section on its website to address common queries.
In terms of educational resources, Errante provides a range of materials, including webinars, video tutorials, and market analysis. While the educational content is helpful, some advanced materials require a minimum deposit of $300 to access. Regular webinars conducted by trading experts further enhance the learning experience for clients.
8. Regional Coverage and Restrictions
Errante primarily serves a global clientele, with a strong focus on European and international markets. The broker has offices in Cyprus and Seychelles, catering to traders across different regions. However, Errante does not accept clients from certain countries, including:
- United States
- Belgium
- Canada
- North Korea
- Syria
- Iran
These restrictions are in place due to regulatory compliance and vary depending on the jurisdiction. Traders are encouraged to review local regulations before opening an account with Errante to ensure compliance with their respective laws.
In conclusion, Errante broker offers a robust trading environment characterized by strong regulatory oversight, a wide range of trading instruments, and user-friendly platforms. With its competitive trading conditions and commitment to client security, Errante stands out as a reliable choice for traders looking to navigate the financial markets effectively.
Errante Similar Brokers
Latest Reviews
FX2563990896
Japan
I felt that the spread was about average compared to others. There was no particular issue with slippage either. What concerns me is that they have adopted a dynamic leverage system where leverage fluctuates according to trading volume.
37130
07-26
FX1825073414
Japan
I registered aiming for the account opening bonus, but it's neither particularly good nor bad... I guess you could say. Their loyalty program isn't outstanding, nor are their spreads particularly tight... If you asked me whether it's worth making this your main account, I'd have doubts. There are also rumors that withdrawals were impossible for some people, so considering that as well, it makes me even more hesitant...
37130
07-25
R Y
Japan
I lost everything due to my poor trading and stopped using it immediately, but I think it's a good company as there were no particular issues with execution and such.
37130
07-27