Errante Review [year]

Editor’s Verdict

Errante, founded in 2019 and regulated in the Seychelles, is a multi-asset broker that offers trading in cryptos, energies, commodities, Forex, indices, metals and equities, with access to multiple trading platforms. This review evaluates its services, so read on to see if Errante is the best broker for you.

Overview

Errante offers trading on over fifty Forex pairs, as well as CFDs on stocks, crude oil, natural gas, agricultural commodities, metals, Bitcoin and other cryptocurrencies.

Errante’s five core takeaways:

• Over fifty Forex pairs with 1:500 Forex leverage on Forex Majors and 1:200 leverage on other Forex pairs, and offers CFDs across 59 stocks, global equity indexes, energy and agricultural commodities, metals and cryptocurrencies
• Regulated in the Seychelles
• Errante offers MT4, MT5, TradingView and cTrader. The TradingView option has a No Dealing Desk execution.
• Four account types: Standard, Premium, VIP and Tailor Made. The first three offer minimum spreads without commission, whereas Tailor Made has raw spreads from 0.0 pip plus a commission.
• 24/7 client support.

Regulation and Security

Errante is regulated in the Seychelles and holds client funds in segregated accounts.

Is Errante Legit and Safe?

My review found no evidence of misconduct or malpractice by this broker during its decade-long history.

Errante regulation and security components:

• Regulated by the Seychelles Financial Services Authority (FSA) under the name Errante Securities (Seychelles) Limited
• Registered office: Office 15 (b), Third Floor, Vairam Building, Providence, Mahé, Seychelles
• Founded in 2019
• Segregation of client deposits from corporate funds

What Would I Like Errante to Add?

I would like Errante to add more individual equity options and non-dealing desk options across all their trading platforms, not just TradingView.

The company should also disclose the Tailor Made program commissions openly on their website. Currently, a potential client must register or speak to an Errante account manager to find out commission information.

Fees

For the Standard, Premium, and VIP accounts, Errante only charges a spread. The minimum spreads are 1.5 pips for the Standard account, 1.0 pips for the Premium account and 0.8 pips for the VIP account. The Tailor Made account has variable spreads from 0.0 pips plus a commission. Errante does not charge any deposit fees and will cover any fees charged by financial institutions for bank wire transfers, or fees charged by Visa or Mastercard. Errante does not cover the customer’s bank fees for withdrawals. They do not charge fees for withdrawals made to debit or credit cards. The company charges a withdrawal fee to e-wallets of either 1% or 2.5% depending on the e-wallet provider. Errante charges a withdrawal fee to cryptocurrency accounts of $50 or $100, depending on the crypto assets. Errante charges an additional fee when withdrawing from accounts with no significant trading activity, defined as having at least 2 lots of FX or metal positions open for at least 5 minutes per $1,000 deposit. The additional fee is 5% if a withdrawal request is made within 72 hours of deposit time, and 3% if a withdrawal request is made after 72 hours of deposit time. The company charges a dormant account fee after 150 days of inactivity, applying an initial $15 fee followed by a monthly $5 inactivity fee until the account is either reactivated or the account balance reaches zero.

Range of Assets

50+ Forex pairs59 individual stocksCryptocurrencies, including Bitcoin and EthereumEnergy: Crude oil and natural gasAgricultural commodities: Cotton, coffee, cocoa, sugarMetals: Gold, silver, palladium

Errante Leverage

Errante’s maximum leverage by asset class:

• Forex majors: 500:1
• Other Forex pairs: 200:1
• Metals: 100:1
• Cryptocurrencies: 1000:1
• Energy: 100:1
• Agricultural commodities: 20:1
• Indices: 100:1
• Equities: 20:1

Account Types

Errante offers four account types: Standard, Premium, VIP, and Tailor Made

Customers can request that any of the account types be a swap-free account, for example, to align with Sharia principles.

Errante Demo Account

Errante allows demo accounts, but they will close it after 90 days of inactivity.

Trading Platforms

Errante offers cTrader, MT4, MT5 and TradingView. This wide range of options is good news for traders. Each of these platforms has vast communities, for example, for copy trading or analysis.

Unique Features

Errante’s main differentiator is plenty of choice of trading platforms, a solid range of asset classes, an easy quick account opening process and high leverage with minimum account size.

Research and Education

Errante Academy is a free service offering eBooks containing trading strategies, Forex trading basics lessons, articles and guidance on trading psychology. Errante also produces regular webinars and market analysis.

Customer Support

Errante offers live chat, phone and email support, all available 24/7.

Bonuses and Promotions

Errante does not offer a bonus or loyalty program.

Opening an Account

Errante claims its account opening process takes less than 5 minutes, and up to 24 hours for their team to verify and open the account.

Minimum Deposit

• Standard Account: $50
• Premium Account: $1000
• VIP account: $5000
• Tailor Made account: $15,000

Payment Methods

Withdrawal options
Deposit options

Errante accepts:

• Bank wire transfer (SWIFT and SEPA)
• Visa and Mastercard credit and debit cards
• E-wallets, including Neteller, Sticpay, Skrill, and Volet
• Cryptocurrencies: Bitcoin, Ethereum, XRP, Tether

Accepted Countries

Errante lists several excluded countries of residence: Afghanistan, Albania, Canada, Iraq, North Korea, Panama, Syria, the United States, Yemen, and Zimbabwe. The implication is that Errante will accept countries not on their exclusion list.

Deposits and Withdrawals

• The minimum deposit starts at $50 for a Standard account
• A $20 minimum applies to withdrawals to credit/debit cards, $100 for bank wires, $20 for e-wallets, and $50 or $100 to cryptocurrencies (depending on the crypto asset).
• All withdrawals are processed during working hours: Monday to Friday, 9:00 – 18:00 GMT+3. All withdrawal requests are processed within 24 hours of being submitted.
• Extra withdrawal charges apply for accounts without significant trading activity (per US$1,000 deposit, at least 2 lots of FX/Metal positions being open for at least 5 minutes). The extra charge is 3% if the withdrawal request is made more than 72 hours after the time of deposit, or 5% if made within 72 hours of the time of deposit.

Is Errante a Good Broker?

Errante offers a broad range of trading platforms (MT4, MT5, cTrader, and TradingView) and a solid choice of asset classes (Forex, commodities, equities, and indices), along with high leverage of up to 500:1. This combination of features will appeal to most traders’ needs.

The company is regulated in the Seychelles and holds client funds in segregated accounts. They also have an additional insurance policy to protect client funds.

Their standard account has a 1.5 minimum spread, which is a little on the high side, but the minimum deposit of $50 is reasonable and makes it easy for most traders to enter the market and access plenty of different asset classes.

FAQs

What is the minimum deposit for Errante?

The minimum deposit required to open an account with Errante is $50 (for the Standard account).

Where is Errante located?

Errante is located in the Seychelles.

Is Errante regulated?

Yes, Errante is regulated by the Seychelles Financial Services Authority.

How do I withdraw from Errante?

You can withdraw from Errante using bank wire, credit/debit card, e-wallet or cryptocurrency.

By DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.