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Errante Review
Updated March 23, 2023
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- Competitive pricing, 0 fees on deposits/withdrawals
- Fast execution speeds and low latency times
- Regulated in the EU and Seychelles
- Multiple funding methods, including popular cryptocurrencies
Regulations and Money Protection
5.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| Errante Securities (Seychelles) Ltd | Seychelles FSA Licence | ✔️ segregated client money |
❌ | ✔️ |
| Notely Trading Limited | Cyprus CySEC Licence | ✔️ up to €20,000 |
✔️ |
Entity/Regulation
- International regulation: Errante Securities (Seychelles) Ltd will be the counterparty for international customers. This entity, registered in Seychelles with an office at Suite 205, Second Floor, Waterside Property, Eden Island, Mahe, Seychelles, is regulated by the Financial Services Authority of Seychelles (FSA) with a Securities Dealer license number SD038.
- European regulation: Notely Trading Limited is a Cyprus Investment Firm (CIF) authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license 383/20. Notely Trading Limited registered office is at 30 Karpenisiou, 1077 Nicosia, Cyprus. The CySEC licence allows Notely Trading Limited to carry out brokerage activities in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.
Client Money Protection
- Errante complies with the highest safety standards for clients' funds. For this reason, Errante client's funds are kept in top-tier international banks, such as the Commonwealth Bank Australia, ABSA Bank Seychelles (for Errante.com), Eurobank and Bank of Cyprus for Errante.eu, fully segregated from the company's funds.
- Errante also complies with the client's money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. Errante holds the client's money separately from the company funds and does not use these funds for any operational expenses or purposes.
Deposit Compensation Scheme
Notely Trading Limited is a member of the Investor Compensation Fund (ICF), an investor compensation fund for clients of CIF companies, and its functions are regulated by the directive DI87-07 of the CySEC. If Notely Trading Limited is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of the offering of the investment service (within Europe).
Negative Balance Protection
For customers of Notely Trading Limited, there is a default NBP mechanism in place, protecting traders from any losses bigger than their original investments, in compliance with 2018 ESMA new CFD trading regulations.
Customers of Errante Securities (Seychelles) Ltd are also offered Negative Balance Protection to prevent clients from keeping their accounts balance below zero. This means that in case of extreme market volatility, and without an adequate stop loss in place, a losing trading position cannot cause a negative account balance.
Customers of Errante Securities (Seychelles) Ltd are also offered Negative Balance Protection to prevent clients from keeping their accounts balance below zero. This means that in case of extreme market volatility, and without an adequate stop loss in place, a losing trading position cannot cause a negative account balance.
Accounts, Instruments and Platforms
| Accounts | Instruments | Platforms | Social trading | Maximum Leverage |
|---|---|---|---|---|
| ✔️Standard ✔️Premium ✔️VIP ✔️Tailor Made ✔️Islamic Accounts |
✔️Forex ✔️Indices ✔️Stocks ✔️Futures ❌ETFs ❌Bonds ✔️Commodities ✔️Cryptos* |
✔️MT 4 ✔️MT 5 ✔️cTrader |
✔️Errante CopyTrade ✔️MAM ✔️PAMM |
30:1 Europe 500:1 Rest of World |
| *Please note that crypto CFDs are not available to traders opening an account with Notely Trading Limited (Errante.eu). | ||||
Account types and currencies
- Errante has four types of trading accounts available; Standard, Premium, VIP and Tailor Made, available with the MT4, MT5 and cTrader platforms. Please note that the MT4 and cTrader platforms are not available in Europe. Errante also offers swap-free accounts for traders of Islamic belief.
- Errante allows for social trading, including copy trading, through the Errante CopyTrade proprietary platform.
- Errante has also PAMM & MAM accounts, ideal for money managers.
- Errante's maximum leverage is 30:1 for accounts opened within Europe, and up to 500:1 for accounts opened in other countries around the world.
- Currently, Errante trading accounts are only available in EUR and USD.
Financial instruments
Trading with Errante can be done via the Metatrader 4 and Metatrader 5, available on web, desktop terminal and mobile versions. Errante offers an excellent selection of more than 140 assets to trade, including forex, indices, stocks, futures, commodities and cryptocurrencies.
- FX market - 50+ currency pairs (including Minor and Exotic crosses).
- Indices - 9 world indices including UK 100, AU 200 and US 30.
- Stocks - 60+ stocks CFDs from worldwide top companies and banks, such as Amazon, Apple, Boeing, Ferrari, Deutsche Bank AG, Air France and BBVA.
- Commodities - 14 commodities CFDs; 6 metals (including Gold and Silver), 3 energies (UK Oil, US Oil and Nat Gas) and 5 commodities futures including Sugar, Coffee, Cotton and Cocoa.
- Cryptocurrencies - 27 CFDs of popular cryptocurrencies versus the USD, including ADA/USD, AVX/USD, BTC/USD, ETH/USD, XMR/USD, OMG/USD and XRP/USD. Please note, crypto CFDs are available only to traders registering an account with Errante Securities (Seychelles) Ltd.
Pricing
4.2
| Pricing/ Account |
Standard | Premium | VIP | Tailor Made |
|---|---|---|---|---|
| Spread EUR/USD | from 1.5 pip | from 1.0 pip | from 0.8 pip | from 0.0 pip |
| Commissions (1 lot EUR/USD) | ❌ | ❌ | ❌ | from 7 USD |
| Minimum Deposit | from $50 | from $1,000 | from $5,000 | from $15,000 |
Spreads
Errante spread for the most traded pair, the EUR/USD, starts at 1.5 pip, on the Standard account, with no added trading commissions. We consider this spread, for the Standard account to be average when compared with other top brokers.
With an Errante Tailor Made account, the EUR/USD minimum spread is 0.0 pip (typically 0.1 pip). To benefit from the lower spread of the Tailor Made account there's a cost to pay: a commission. For the EUR/USD, the standard lot commission for 1 lot (100,000 units) is 7 USD commission (3.5 USD per side/per lot). We consider this commission to be in line with other top brokers.
With an Errante Tailor Made account, the EUR/USD minimum spread is 0.0 pip (typically 0.1 pip). To benefit from the lower spread of the Tailor Made account there's a cost to pay: a commission. For the EUR/USD, the standard lot commission for 1 lot (100,000 units) is 7 USD commission (3.5 USD per side/per lot). We consider this commission to be in line with other top brokers.
Rollover Rates
Errante swap rates, as of 23-03-2023, for the EUR/USD pair are -0.91 points for holding overnight a long 1 lot contract (100,000 currency units) and +0.45 points for holding overnight a short 1 lot contract. We consider Errante swap rates to be average, compared with the rollover rates offered by other top forex brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 2 different currencies and maintained via 13 different funding methods, including cards, bank wires, popular cryptocurrencies (BTC, ETH, XRP and USDT) and e-payments including Neteller, Skrill and Advcash. Deposited funds are available almost instantly. Errante does not charge any fees for deposits.
- Withdrawals fees - Same policy applies for withdrawals (processing times vary from instant to 1 working day). Errante does not charge any additional fees for withdrawals. However, deposits/withdrawals may incur fees on payments to and from some international banking institutions or e-wallet providers. For more information, please visit the Errante deposit and withdrawals dedicated page.
- Inactivity fee - For accounts that are inactive for 12 months (there is no log-in or trading or internal transfer within the accounts), Errante reserves the right to charge a monthly inactivity fee. The inactivity fee is 5 EUR/USD (five euro/dollar), or the same base currency as the trading account, for each month that the account remains inactive. There will be no charges if the free margin in the account is zero.
Popularity
3.6
| Forex Education |
Deposit Options |
Deposit/Withdrawals Fees | Non-expiring demo account | Customer Support |
|---|---|---|---|---|
| Educational videos Market Analysis Webinars |
Cards Bank Wire E-payments Cryptocurrencies |
❌ | ❌ - 30 days | Multi-language 24/5 Support Live Chat Phone support |
The popularity of this CFDs broker is on the rise. Trading can be done with reliable platforms (MT4, MT5 & cTrader) to suit all kinds of traders. But the key factor for Errante raising popularity is its commitment to providing industry-leading trading services and building lasting and trusting relationships with clients.
Offering cutting-edge trading technology, Errante has super-fast trading servers, maximizing order execution speeds on both trading platforms. Errante’s clients can benefit from tight spreads and fast execution times, merged with competitive pricing, including a generous 0 fees policy on deposits/withdrawals.
- Trading accounts - The Errante's Premium account is a popular choice with traders looking to save on trading costs, with competitive spreads and no trading commission. Extra points for Errante's policy of no fees on deposits or withdrawals.
- Forex education - Errante also gets a couple of popularity points for its range of education materials, available through the "Education Centre" tab. Errante's clients can find a market analysis blog, educational videos and webinars conducted by professionals, offering coverage on global equities, currencies and commodities.
| Funding Methods | Bank Transfer, Visa/MasterCard, Neteller, Sticpay, Skrill, Perfect Money, Advcash, CashU, BTC, ETH, XRP, USDT |
|---|---|
| Support Languages | Arabic, English, Hindi, Indonesian, Italian, Malay, Persian, Portuguese, Russian, Spanish, Thai, Vietnamese |
- Minimum deposit - Opening a trading account with Errante is easy, fast and can be done online, taking around 5 minutes to complete all the required forms. The minimum deposit requirement to open a live account with Errante is 50 USD for the Standard account. For the other accounts, please check the table in the "Pricing" section of this review.
- Customer support - Errante's multi-language customer support service is available 24 hours, 5 days a week, in 12 languages. Errante's support is available via phone call, contact form, email and live chat directly from the broker's website.
Broker Profile
Established in 2019, Errante is a retail online broker providing trading solutions for active day traders, scalpers and also professional traders. Already with several industry awards, Errante is a regulated broker, adopting the best practices regarding client funds' safety. Errante is committed to providing industry-leading trading services and building lasting and trusting relationships with clients.
As a Cyprus CySEC regulated entity, Errante is required to meet strict financial standards, including capital adequacy and audit requirements. Errante was built for traders by a group of industry experts with decades of experience. At the cornerstone of Errante’s business philosophy are the strong qualities of honesty, transparency, and integrity.
The broker aims at setting a new standard for retail online brokerage, providing top-notch personal support to clients and ensuring a reliable trading environment.
Overall, on our Errante review, the broker scores an average of 3.0 out of 5.0. Errante is a very reputable choice for traders looking for a highly regulated broker (in the EU), and also for those looking for an FX broker with higher leverage limits (Seychelles FSA regulated entity only). Also, on a positive note, the Errante CopyTrade proprietary platform. This social trading platform can represent an interesting choice for experienced traders to earn extra cash from their trades, and, for new investors looking to diversify their portfolios by copying the positions of other traders.
Data supplied in partnership with CashBackForex - Forex Rebates places Errante on the top 15 brokers for popularity with traders opening an account in 2022.
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As a Cyprus CySEC regulated entity, Errante is required to meet strict financial standards, including capital adequacy and audit requirements. Errante was built for traders by a group of industry experts with decades of experience. At the cornerstone of Errante’s business philosophy are the strong qualities of honesty, transparency, and integrity.
The broker aims at setting a new standard for retail online brokerage, providing top-notch personal support to clients and ensuring a reliable trading environment.
Overall, on our Errante review, the broker scores an average of 3.0 out of 5.0. Errante is a very reputable choice for traders looking for a highly regulated broker (in the EU), and also for those looking for an FX broker with higher leverage limits (Seychelles FSA regulated entity only). Also, on a positive note, the Errante CopyTrade proprietary platform. This social trading platform can represent an interesting choice for experienced traders to earn extra cash from their trades, and, for new investors looking to diversify their portfolios by copying the positions of other traders.
Data supplied in partnership with CashBackForex - Forex Rebates places Errante on the top 15 brokers for popularity with traders opening an account in 2022.
Was this review helpful? Share it with a friend!
Errante User reviews
Errante Account types user rating
(0)Standard
(0)Premium
(0)VIP
(0)Tailor Made