Errante Broker Review

Author By Jeffrey Cammack
Updated: September 24, 2021
Overall Rating
3.83 3.83 / 5
Rated #49 of 69 Recommended Brokers
Min. Deposit
USD 50
Regulators
Trading Desk
Trading Cost
USD 15
Website Language
English
Support Language
English
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.5 pips on trading account with lowest minimum deposit. Max leverage 500:1. MT4 & MT5 platforms supported. Errante regulated by the CySEC & FSA (Seychelles).

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Summary

A CySEC and FSA regulated CFD broker with no dealing-desk intervention, Errante offers trading on cryptocurrencies, shares, energies, metals, indices, and over 50 Forex pairs. Errante supports MT4 and MT5 platforms, and it allows both hedging and scalping. Forex education and analysis materials are limited compared to Errante’s larger competitors, but we put this down to the company’s relative youth.

The entry-level account offers comparatively poor trading conditions, with a minimum deposit of 50 USD, and EURUSD spreads at 1.5 pips but makes up for it with lower trading costs on the VIP and tailor-made accounts, where EURUSD spreads are as low as 0.0 pips in exchange for much higher minimum deposits.

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
111003/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
1110.503.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Bonuses
None

Account Information

Base Currencies
USD, EUR
Number of FX Pairs
50
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
1.50 pips
Commission
Fees Included in Spread
EUR/USD
1.5 pips
GBP/USD
1.6 pips
USD/JPY
1.5 pips
Max. Leverage
500:1

Company Details

Company Name
Errante Securities (Seychelles) Ltd
Founded
2019
Office Locations
Cyprus, Malaysia, Nigeria, Seychelles, Uruguay

Pros

  • Well regulated
  • Low minimum deposit
  • Innovative trading tools
  • Excellent education

Cons

  • Limited educational material
  • Limited platform choice

Is Errante Safe?

A global CFD broker with over 20,000 clients worldwide, Errante was founded in 2019 and is headquartered in Cyprus.  It is authorised and regulated by the Financial Services Authority (FSA) of Seychelles and the Cyprus Securities and Exchange Commission CYSEC.  See below for details:

  • Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.
  • Errante is the trading name of Errante Securities (Seychelles) Ltd, a Seychelles Securities Dealer Licensee, authorized and regulated by the Seychelles Financial Services Authority (FSA) under license number SD038.

Errante does not currently hold a licence from the Securities Commission Malaysia (SC), and all Malaysian clients will be trading with Errante Securities (Seychelles) Ltd, which is registered in Seychelles.  Malaysians can be sure that their funds will be deposited in top-tier, well-capitalized banks and financial institutions separate from the company’s operating funds.  Furthermore, Malaysians are afforded negative balance protection.

Notably, Errante won the Best Forex Newcomer 2020 award from Forex Awards.

On this basis, we consider Errante a safe and dependable broker. 

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
FSA-Seychelles
ECN/STP
2019
Cyprus, Malaysia, Nigeria, Seychelles, Uruguay
No

Trading Conditions

A market maker with no dealing-desk intervention, Errante offers trading on six asset classes, including cryptocurrencies, shares, energies, metals, indices, and over 50 Forex pairs.  Errante offers full support for both the MT4 and MT5 platforms on four live accounts and an unlimited demo account.  All accounts are commission-free accounts, except the Tailor-Made Account, where commissions are dependent on trading volumes.  All accounts feature maximum leverage of up to 500:1 and a minimum order size of 0.01 lots.  Errante allows hedging and scalping, and according to customer service, will be adding a copy trading service to its repertoire in the near future.  Accounts are only denominated in two base currencies, namely EUR, and USD, but Malaysians will be pleased to note that Errante offers Islamic swap-free accounts on request. 

It should be noted that neither the average nor the minimum spreads are published on Errante’s website.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Premium
USD 1000
500:1
1
Account Details
Standard
USD 50
500:1
1.50
None
Account Details
Tailor Made
USD 15000
500:1
0
Account Details
VIP
USD 5000
500:1
0.20
Account Details

Standard Account

The Standard Account has a minimum deposit requirement of 50 USD, with spreads averaging at 1.50 pips on the EUR/USD, which is wider than other similar-sized market makers.  Account-holders can trade on all available instruments. 

Premium Account

The minimum deposit requirement on the Premium Account is 1000 USD and spreads average at 1 pip on the EUR/USD.  Account-holders receive a daily market summary, personalized customer support, and have access to enhanced educational materials.

VIP Account

To open a VIP account, a minimum deposit of 5000 is required.  Average spreads hover at 0.2 pips (according to customer service and the information published on the site), which is exceptionally tight, and no commissions are charged.  VIP traders will not be charged fees on any deposit and withdrawal methods, and in addition to enhanced educational material access, will receive free VPS services.

Tailor-Made Account

As the name suggests, this is a customisable account with a minimum deposit requirement of 15,000 USD.  Spreads start at 0.0 pips on the EUR/USD but lower leverages apply.  A commission will be determined based on trading volumes, and margin calls are set upon request. 

Errante Account Types

Demo Accounts

Errante’s demo account mimics the conditions found on the Standard, Premium, and VIP accounts on both the MT4 and MT5 platforms and is available with a virtual balance of 10,000 USD.  The demo accounts are unlimited and a good way to test trading strategies before committing real money.   

Spreads and Commissions

Spreads at Errante are wider than similar-sized market makers on its entry-level account, starting at 1.50 pips on the EUR/USD.  Premium Account spreads tighten to 1 pip on the same currency pair in exchange for a higher minimum deposit, and VIP account-holders can access an extremely tight spread of 0.2 pips on the EUR/USD.  Spreads on the Tailor-Made account start at 0.0 pips on the EUR/USD in exchange for a commission per lot, but this is determined by the trading volume. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
111003/ 5
USD, EUR
1.50 pips
USD 15
1.5 pips
1.6 pips
1.5 pips
0.0
11110.54.5/ 5
AUD, USD, EUR, GBP, NZD
0 pips
USD 7
0 pips
0 pips
0 pips
7
11110.54.5/ 5
AUD, USD, EUR, GBP, CAD, SGD, NZD, JPY, CHF, HKD
0.10 pips
USD 8
0.1 pips
0.4 pips
0.2 pips
7

Deposits and Withdrawals

Like most brokers, Errante operates a “return to source policy,” meaning that withdrawals can only be returned to the original funding source.   A variety of funding and withdrawal methods are available; see below for details:

Note that the minimum deposit on all accounts is 50 USD/EUR.

  • Bank Wire Transfer: Deposits are free and are processed within 2 – 5 working days. Withdrawals are processed within 2 – 5 working days, are free, and the minimum withdrawal amount is 100 EUR/USD.
  • Visa/Mastercard: Deposits are free and are processed within 1 hour. Withdrawals are free and are processed within 24 hours but may take 4 – 8 days to reach your account.  Minimum withdrawal amounts are 20 USD/EUR.
  • E-wallets (Neteller, Sticpay, Skrill, Perfect Money): Deposits are free and are processed within 1 hour. Withdrawals are handled within 24 hours, and a fee of 1% applies.  Minimum withdrawal amounts are 20 EUR/USD.
  • Cryptocurrencies (BTC, ETH, XRP, USDT): Deposits are free and are processed within 10 minutes. Withdrawals are free and are processed within one working day.  Note that the minimum withdrawal amount is 20 USD/EUR.

Errante also charges a dormancy account fee of 10 USD per month after six months of inactivity.

Errante for Beginners

Errante’s educational and market analysis materials are minimal, but we put this down to the company’s relative youth.  However, responsive customer service is available 24/5 to answer any technical or account-related questions.  Note that neither the website nor its educational materials are translated into Malay.

Educational Materials

Errante’s educational materials include a selection of beginner and advanced training videos and Metatrader 4 and Metatrader 5 platform videos.  The videos cover various topics, including an introduction to forex, technical and fundamental analysis, and more.  While limited, they are of a high quality, but users will need to register to access most of the videos. 

Alongside this material, Errante also hosts frequent multilingual webinars on all aspects of trading, including the Basics of Trading, Technical and Fundamental Analysis.  Past webinars are stored in an archive and are available on demand.  Webinars are free to all website visitors but require registration.

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Broker
Beginner Course
Advanced Course

 

Errante Educational Materials

Market Analysis Materials

Market research and analysis are also limited, and Errante only offers clients a daily market commentary in written format, composed by its in-house team of analysts.  Other market analysis tools include margin calculators and economic calendars. 

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Broker
Autochartist
Trading Central
Trading View

Customer Service

Customer support is available 24/5 in 11 languages, including Malay, via email, telephone, and live chat.  For the purposes of this review, we found the customer support extremely responsive (within 20 seconds), polite, and very resourceful.

Trading Platforms

Trading is offered on the MT4 and MT5 platforms and their associated desktop, mobile, and web-based applications. 

Metatrader 4

MetaTrader 4 is one of the world’s most popular and versatile platforms, offering powerful features to help you make educated trading decisions. Though it is now showing its age, MT4 is still popular for its auto trading features that enable algorithmic trading and strategy backtesting with expert advisors (trading robots).  Other features of MT4 include:

  • MQL4 programming language
  • Single-thread, single-currency backtesting
  • 30 inbuilt technical indicators
  • 31 graphical objects
  • Nine timeframes

MetaTrader 5

MT5 is at the forefront of trading software and boasts millions of users worldwide, featuring an in-depth qualitative and quantitative analysis.  The MT5 trading platform is being adopted by more Forex brokers all the time; it has a more modern interface, allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. In addition, the MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4.

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Broker
Platform Choice
Copy Trading
Platforms
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
Zulu Trade

 

Errante MT5

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Errante’s offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Errante would like you to know that: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.

Overview

Founded in 2019, Errante is relatively new to the CFD industry but has built up a large client base worldwide.  With full support for the most popular trading platforms, MT4 and MT5, traders can choose between four live accounts.  Although minimum deposits are reasonable on its entry-level account, trading conditions are generally poor, and it offers a limited selection of educational and material analysis materials for beginner traders.  Malaysians will be pleased that customer support is available in Malay and that Errante offers Islamic swap-free accounts.  

AlertAccepts Malaysian Clients. Average spread EUR/USD 1.5 pips on trading account with lowest minimum deposit. Max leverage 500:1. MT4 & MT5 platforms supported. Errante regulated by the CySEC & FSA (Seychelles).
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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.83/ 5
USD 50
ECN/STP
Forex
Metals
Indices
Energies
Stock CFDs
50
5
  • Well regulated
  • Low minimum deposit
  • Innovative trading tools
  • Excellent education
  • Limited educational material
  • Limited platform choice
1110.503.5/ 5
111003/ 5
11110.54.5/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
111104/ 5
63.15% of retail investor accounts lose money when trading CFDs with this provider
500:1
1.50 pips
Premium
Standard
Tailor Made
VIP
Bank Transfer
Visa
Mastercard
Skrill
Neteller
PerfectMoney
CashU
Unionpay
Bitcoin
Boleto
Fees Included in Spread
11110.54.07/ 5
USD 100
Market Maker NDD
Forex
Stock CFDs
Cryptocurrencies
Commodities
40
4
  • Great platform choice
  • Excellent education
  • Limited demo account
  • No swap-free account option
  • Extreme leverage
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
111104/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
Raw
Standard
Visa
POLi
Bank Transfer
BPay
Skrill
Neteller
Unionpay
7 USD / lot
11110.54.46/ 5
USD 200
ECN/DMA
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
Bonds
Futures
64
10
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
  • High minimum deposit
  • Limited market analysis
111104/ 5
11110.54.5/ 5
111115/ 5
111104/ 5
111115/ 5
11110.54.5/ 5
11110.54.5/ 5
77% of retail investor accounts lose money when trading CFDs with this provider
500:1
0.10 pips
RAW - cTrader
RAW - MetaTrader
Standard - MetaTrader
Zulu Trade
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Paypal
Unionpay
7 USD / lot - Raw Spread Account
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