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Errante Review 2024

By:
Plamen Stoyanov
Updated: Apr 12, 2024
Overall Rating
4
  • Trust
    3.6
  • Fees
    4
  • Platforms and Tools
    4.6
  • Tradable Instruments
    4.1
  • Customer Support
    4.2
  • Research
    2.8
  • Deposit and Withdrawal
    3.9
  • Account Types and Terms
    4.6
  • Education
    4.3
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take On Errante

    Founded in 2019, Errante is a forex and CFD broker headquartered in Seychelles. It offers traders access to over 120 instruments across various markets.

    Errante provides several account types and features three retail platforms: the standard suites of MetaTrader 4 and MetaTrader 5, along with cTrader. I found the broker’s fees to be quite competitive, especially on share CFDs and some indices.

    The broker distinguishes itself with its enhanced copy trading offering and engaging educational webinars. I concluded that Errante’s services are primarily tailored for day traders, with support for automated trading as well.

    Recommended in 5 best broker guides: MetaTrader Crypto | Offshore | MT4 | Automated Trading | cTrader

    Errante Pros and Cons

    Pros Cons
    • CySEC regulation
    • Choice of tradable platforms 
    • Copy and algo trading 
    • Insightful webinars 
    • Narrow selection of instruments
    • Narrow research 

    Errante Highlights for 2024

    • Moderate Safety: Errante is authorized by CySEC and the offshore Seychelles regulator. Both entities ensure negative balance protection and have issued private indemnity insurance.
    • Affordable Prices: Errante’s combination of spreads, swaps, and commissions varies across markets but generally is lower that the industry average.
    • Choice of Platforms: The broker incorporates the popular MetaTrader 4&5 and superior cTrader, offering advanced technical analysis, copy, and automated trading.
    • Limited Instruments Offering: The scope of Errante’s tradable instruments is limited but generally enough for implementing most types of trading strategies.
    • Diverse Account Options: The broker provides three commission-free retail account types and one designed for professional traders. Islamic and demo accounts are also available.
    • Narrow Supporting Content: Errante’s educational and research resources are practical but lack variety.

    What Sets Errante Apart?

    Errante enables copy trading across both MetaTrader and cTrader platforms, creating an optimal environment for strategy providers and followers to connect.

    Strategy followers can effortlessly search for strategies that align with their goals and needs, utilizing filters to sort through the database based on criteria like average profit, maximum drawdown, average risk, and more.

    Who is Errante For?

    Errante is a good choice for day traders and chart artists. The broker incorporates cTrader with its advanced charting capabilities and sophisticated order execution. It also offers multiple solutions for those interested in copy trading and algo trading.

    I performed my tests on a Standard trading account using the desktop and mobile app versions of the cTrader platform. The account was opened with the Errante Securities (Seychelles) Ltd entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with.

    Errante Main Features

    ☑️ RegulationsCySEC (Cyprus), FSA (Seychelles)
    🗺 Supported Languages
    English, Russian, French, Portuguese, Arabic, Italian, Spanish, Chinese, Farsi, Greek, Vietnamese, Malaysian, Indonesian, Japanese
    💰 ProductsCurrencies, Stocks, Indices, Commodities
    💵 Min Deposit$50
    💹 Max Leverage1:30 (CySEC ), 1:500 (FSA)
    🖥 Trading Desk TypeNo dealing desk, STP
    📊 Trading PlatformsMT5, cTrader, MT4
    💳 Deposit OptionsCryptocurrencies, PerfectMoney, Wire Transfer, Skrill, Neteller, Credit Card, Debit Card, AdvCash, SticPay
    💳 Withdrawal OptionsWire Transfer, Cryptocurrencies, Neteller, Skrill, Credit Card, Debit Card, SticPay, AdvCash, PerfectMoney
    🤴 Demo AccountYes
    🗓 Foundation Year2019
    🌎 Headquarters CountrySeychelles
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    Errante Full Review

    Trust

    3.6
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    Errante has two subsidiaries: one is authorized by a top-tier CySEC, and the other is regulated offshore by the FSA Seychelles. The broker complies with all essential safety requirements, such as negative balance protection and segregated funds. It also has issued a private indemnity insurance from Lloyd’s.

    Entity Features Novelty Trading Limited  Errante Securities (Seychelles) Ltd
    Country/Region Cyprus, Nicosia  Seychelles, Mahe
    Regulation CySEC FSA
    Tier 1 3
    Segregated Funds Yes Yes
    Negative Balance Protection Yes Yes
    Compensation Scheme Up to EUR 20,000 under ICF Up to EUR 1,00,000 by Lloyd’s
    Maximum Leverage  1:30 1:500

    Errante Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about the two entities operating under the Errante trade name:

    • Novelty Trading Limited is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus under license number 383/20. We rate CySEC as a Tier-1 regulator.
    • Errante Securities (Seychelles) Ltd is licensed and regulated by the Financial Services Authority (FSA) in Seychelles under license number SD038. We rate the FSA as a Tier-3 regulator.
    Errante Securities (Seychelles) Ltd’s licensing info fsaseychelles.sc
    Errante Securities (Seychelles) Ltd’s licensing info fsaseychelles.sc

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection.

    Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All Errante entities ensure segregated client funds.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Both Errante entities ensure negative balance protection.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. Both entities have compensation schemes in place.
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with Errante is 1:500.

    Stability and Transparency

    In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided.

    I went over Errante’s Legal Documents and everything seemed in order. The information there is easily accessible and written in an easy-to-understand way. My only minor gripe is that the website has no live spread feed.

    I also appreciated the fact that Errante has a ‘best execution policy,’ which means that the broker is required to deliver the best possible price feeds under the prevailing market conditions.

    Is Errante Safe to Trade With?

    My research of Errante’s licenses, safety policies, and legal documents indicates that the broker is fairly transparent and safe to trade with. Its high level of trustworthiness and stability can be attributed to the following factors:

    • Authorized by at least one Tier-1 regulator
    • Ensures all essential safety requirements
    • Has issued a ‘private indemnity insurance’
    • Operates on a ‘best execution policy’

    Fees

    4
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    Errante supports commission-free trading and average-to-high spreads on its commission-free Standard account. Its swap charges were slightly elevated, though swap-free trading is possible via its Islamic accounts. The broker charges a minor maintenance fee for inactivity and a handling fee for withdrawals.

    Errante Trading Fees

    Errante Spreads

    I tested Errante’s spreads on 12 March 2024 during the London and the New York open. The results are shown in the table below:

    Instrument Live Spread AM Live Spread PM Industry Average
    EURUSD 1.5 pips 1.5 pips 1.08 pips
    GBPJPY 2.6 pips 2.2 pips 2.44 pips
    Gold (XAUUSD) 32 pips 32 pips 42 pips
    Crude Oil 0.04 pips 0.04 pips 0.03 pips
    Apple NA 0.13 points 0.33 points
    Tesla NA 0.21 points 0.50 points
    Dow Jones 30 2.80 basis points 2.50 basis points 3.3 basis points
    Germany 40 Not Available Not Available 2.4 basis points 
    Bitcoin Not Available* Not Available $35.5

    *on the cTrader platform

    Broken down by asset class and compared to the industry average, Errante charges low spreads on share CFDs and some indices, low-to-average spreads on commodities, and average-to-high spreads on FX pairs.

    Errante Swaps

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full base currency contract (100,000 units).

    Instrument Swap Long Swap Short
    EURUSD Charge of $6.4 Credit of $2.7
    GBPJPY Credit of $12 Charge of $36

    My tests indicate that Errante charges average-to-high swaps. This means that the broker’s pricing mechanism is better suited for day trading.

    Errante’s Non-Trading Fees

    Errante charges a one-off maintenance fee of $15 after five months (150 days) of inactivity. After that, the dormant account is liable for a $5 inactivity fee charged monthly. The fee is incurred until activity resumes or the account balance drops to zero.

    The broker does not charge an internal handling fee for deposits, and it may even cover any banking fees incurred by the trader. However, Errante charges a handling fee for withdrawals, subject to the chosen payment method.

    Accounts Comparison

    I have compiled the table below to help you better understand the difference between the trading fees of Errante’s three account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

    The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10 for each account.

    To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

    Account Type* Spread Commission** Net Cost
    Standard 1.5 pips $0 $15
    Premium $11 $0 $11
    VIP $0.8 $0 $8
    Typical STP 1.2 pips $0 $12
    Typical ECN 0.2 pips $6 $8

    *The numbers in this chart are only illustrative and subject to change over time

    **Round-turn commission

    According to my findings, Errante’s Premium account offers slightly better conditions than the typical STP account. In contrast, the VIP accounts’ trading fees meet the industry average ECN account and its fees.

    Are Errante’s Fees Competitive?

    The combination of zero commissions and floating spreads on Errante’s Standard account type generally exceeds the industry average. However, there are some notable exceptions. Errante offers quite affordable conditions for trading commodities, share CFDs, and some indices.

    Moreover, traders can take advantage of even more competitive prices on Errante’s Premium and VIP account types.

    Platforms and Tools

    4.6
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    Errante incorporates the standard suits of MT4 and its successor, MT5. It also features the seamless cTrader platform, which is used to carry out sophisticated technical analysis and order execution. The broker supports automated trading and copy trading.

    Platform/Tool Suitable For
    MetaTrader 4 Simple order execution, automated trading
    MetaTrader 5 Simple order execution, automated trading
    cTrader Advanced technical analysis, order execution, copy trading, automated trading
    VPS Hosting Low-latency trading

    In this review, I tested the versatile and user-friendly cTrader platform, equipped with an extensive array of tools and configurations and an impressive array of over 20 timeframes.

    Yet another great thing about cTrader is that it has many built-in videos explaining what its multiple technical indicators do and how they can be used in real-world trading. This feature is great for beginners who still haven’t fully developed their trading systems.

    cTrader’s copy trading feature
    cTrader’s copy trading feature

    Errante’s cTrader platform excels in copy trading and automated trading. However, the broker records relatively slow execution speeds, approximately 310 milliseconds, making it less ideal for high-frequency trading due to an increased risk of negative slippage. Errante’s VPS hosting offers a potential compensation for this drawback.

    Errante’s Desktop cTrader Platform

    cTrader’s main panel
    cTrader’s main panel

    General Ease of Use

    cTrader has a very familiar layout, with its charts positioned in the middle, order execution on the right-hand side, and account info at the bottom. On the left-hand side of the main panel, you can switch between the platform’s several settings (retail trading, automated trading, and copy trading).

    In the retail trading regime, you can use cTrader’s multiple integrated research tools, such as an economic calendar and news screener.

    Finally, the platform affords ample information about order execution. You can read about margin requirements, current spread rate, and much more before proceeding to open a position.

    Charts

    I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. In my experience, a chart’s most important attribute is its fluidity – how easy it is to scale price action up and down.

    cTrader’s charts window
    cTrader’s charts window

    I have broken down the available analytical tools and chart configurations on cTrader below:

    • 67 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next. cTrader is a fluid platform, and adding more indicators does not decrease the chart’s clarity.
    • 23 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels.
    • 26 timeframes. cTrader stands out with its impressive assortment of timeframes, which allows multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term.
    • 6 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity makes it possible to examine potential trading opportunities from different angles.

    Orders

    cTrader’s order placing window
    cTrader’s order placing window

    I have broken down the available order types on the cTrader platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    My Key Takeaways After Testing the cTrader Platform

    cTrader is probably one of the most well-rounded platforms out there. It combines copy trading, algo trading, and retail trading seamlessly and supports sophisticated technical analyses while offering plenty of supporting tools and content for newbies.

    I also quite liked the fluidity of cTrader’s charts. Price action is represented clearly, and it is not easily obscured when extra technical indicators and drawing tools are added to it. This makes for an easy and effective price action examination.

    Errante’s Mobile cTrader App

    Watch list of selected instruments (left), chart window (middle), and order placing window (right)
    Watch list of selected instruments (left), chart window (middle), and order placing window (right)

    The cTrader mobile app affords quick and easy access to the market on the go. It is very useful for making snap adjustments to any open trades.

    The market is volatile and ever-changing, and staying on top of the latest developments is made easy with Errante’s mobile app. It can also be used to place market, limit, and stop orders, as well as to adjust the exposure of open trades.

    My Key Takeaways After Exploring Errante’s Mobile App

    The cTrader app has a pleasant design and can be used to make quick adjustments to any open trades. This is crucially important for regulating a trader’s market exposure at all times, especially during heightened market volatility.

    Tradable Instruments

    4.1
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    Errante offers a rather limited amount of tradable instruments. On the cTrader platform, traders are given access to a little around 120 instruments across currency pairs, commodities, share CFDs, and indices. The broker also offers cryptocurrencies on MetaTrader.

    Markets Industry Average Types Contract Types
    47 Currency Pairs Between 30 and 75 Majors, Minors, Crosses, Exotic Spot
    9 Commodities Between 5 and 10 Metals, Energies Spot, Futures
    63 Share CFDs Between 100 and 500 US (44), EU (19) Spot
    8 Indices Between 5 and 10 US, Europe, Asia Spot

    *Please take note that this list is comprised of instruments available on the cTrader platform

    Compared to the industry average, Errante offers a low amount of share CFDs and an average amount of FX pairs, commodities, and indices.

    What Are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.

    For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

    One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With Errante?

    Forex Commodities
    EURUSD | GBPJPY | NZDUSD | EURCHF | USDJPY | EURCAD Gold | Crude Oil | Natural Gas | Silver
    Share CFDs Indices
    META | Apple | Tesla | Microsoft | Siemens | Citigroup | Netflix Germany 30 | Japan 225 | Nasdaq 100 | Dow Jones 30 | FTSE 100

    My Key Takeaways After Exploring Errante’s Instruments Offering

    Errante offers a decent amount of instruments, though there is room for improvement. While day traders have sufficient options for speculative trading, I find Errante’s overall offering to be insufficient for balanced trading.

    The lack of lower-risk securities like ETFs, bonds, warrants, and other such assets, makes it difficult for risk-averse traders to hedge their market exposure.

    Customer Support

    4.2
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    Errante offers 24/5 customer support over email, phone, and live chat. Agents respond quickly, though their answers often vary in complexity. The broker also offers a detailed FAQ section of the website for more general queries.

    Live Chat Email Phone
    24/5 from the website  +44 203 519 4635

    Customer Support Test

    When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I conducted my test on 13 March at around 11:50 a.m. CET via live chat. An agent connected almost instantaneously to the conversation.

    I asked a series of questions with varying degrees of difficulty. The agent’s responses were brisk but generally sufficient. They, however, did not delve too deep. For instance, they did not elaborate on my question about their execution model.

    I also was not provided an answer regarding their average execution speed, which I later recorded at around 300 milliseconds.

    My overall impression of Errante’s support is that it is good for general queries and quick questions.

    My conversation with Errante’s customer support
    My conversation with Errante’s customer support

    Deposit and Withdrawal

    3.9
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Errante provides multiple payment processing methods, including bank wire, credit and debit cards, e-wallets, and cryptocurrencies. The broker does not charge deposits and even covers third-party banking fees. However, there is a 1% handling fee charged on some withdrawal methods.

    Errante Deposit Methods

    Payment Method Currency  Fee Processing Time
    Bank Wire EUR, USD $0* 2–4 business days
    Credit/Debit Card EUR, USD $0* Instant 
    Neteller EUR, USD $0* Instant
    Sticpay EUR, USD $0* Instant
    Skrill EUR, USD $0* Instant
    Perfect Money EUR, USD $0* Instant
    Advcash EUR, USD $0* Instant
    Cryptocurrencies  BTC, ETH, XRP, USDT 0% Up to 2 hours

    *Third-party fees covered by Errante

    Errante Withdrawal Methods

    Payment Method Currency Min. Withdrawal Amount Fee Processing Time
    Bank Wire EUR, USD 100 currency units 0%* 2-4 business days
    Credit/Debit Card EUR, USD 20 currency units 0%* Within 1 business day
    Neteller EUR, USD 20 currency units 1%* Within 1 business day
    Sticpay EUR, USD 20 currency units 1%* Within 1 business day
    Skrill EUR, USD 20 currency units 1%* Within 1 business day
    Perfect Money EUR, USD 20 currency units 1%* Within 1 business day
    Advcash EUR, USD 20 currency units 1%* Within 1 business day
    Cryptocurrencies BTC, ETH, XRP, USDT-TRC20, USDT-ERC20 $50-$100 Up to $15 Within 1 business day

    *Third-party fees may apply

    Account Types and Terms

    4.6
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    Errante offers four retail accounts. The minimum deposit requirement for a Standard account is $50, making it quite affordable. Traders can use EUR and USD as base currencies. Also, swap-free trading is available via Errante’s Islamic accounts.

    Errante Account Opening Process

    Errante’s account registration form
    Errante’s account registration form

    To create an account with Errante, follow these simple steps:

    • Step 1. Click ‘Register’ at the top-right corner of the main page.
    • Step 2. Fill in your personal details, including your name and email address.
    • Step 3. Enter a confirmation pin sent to your email address.
    • Step 4. Log in to the Client Portal and fill in additional personal details.
    • Step 5. Choose an account type.
    • Step 6. Upload proof of your ID and address to verify your account.
    Errante’s account registration form (continued)
    Errante’s account registration form (continued)

    Errante’s Account Types

    Account Type Standard Premium VIP Tailor Made
    Spread From 1.5 pips 1.0 pips 0.8 pips 0.0 pips
    Commission* $0 $0 $0 Yes
    Minimum Deposit $50 $1000 $5,000 $15,000
    Base Currency EUR, USD EUR, USD EUR, USD EUR, USD
    Margin Call 100% 100% 100% 100%
    Stop-Out 20% 20% 20% 20%
    Islamic Account Yes Yes Yes Yes
    Demo Account Yes Yes Yes Yes

    *Round-turn, per traded lot (100,000 units)

    Errante’s accounts are affordable and diverse. Naturally, the more funds you are able to set aside, the more preferential conditions you will get. I determined that the most favorable pricing mechanism is available on the Tailor Made account type.

    What is interesting and worth keeping in mind is the combination of margin calls at 100% and stop-out levels at 20%. In a nutshell, this combination means that poorly managed losing positions could cost as much as 80% of a trader’s account balance before an automatic cancellation of these positions is initiated.

    While there is nothing inherently wrong with such a combination, rookie traders should be warned that they face the risk of losing a significant chunk of their account balance unless they implement tight risk management.

    Demo Account

    Errante offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

    Islamic Account

    The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact Errante’s customer support and request the service from there.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    Maximum Leverage by Asset Class

    In the table below, I have listed the maximum retail leverage available with Errante for instruments from different asset classes:

    Asset Class Maximum Retail Leverage
    Forex 1:500
    Energies 1:100
    Metals 1:100
    Indices 1:100
    Share CFDs 1:20

    Errante Restricted Countries

    Errante does not accept clients from the following countries: Albania, Belgium, Canada, Iraq, North Korea, Panama, Syria, USA, Yemen, and Zimbabwe.

    Research

    2.8
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    Errante’s research materials offer traders insight into current market trends and developments. However, the broker does not offer actionable trading signals or comprehensive market breakdowns that rely heavily on the use of fundamental analysis.

    News Screener

    Integrated into the cTrader platform, the news screener provides frequent updates on current market developments. These updates inform traders about viable intraday trading opportunities expected to emerge. This may include major economic, financial, and political developments. I appreciate that charts with technical breakdowns support the content.

    cTrader’s news screener
    cTrader’s news screener

    Market Analysis

    Available from the website, the market analyses represent brief breakdowns of market developments that are unsupported by charts. Content from this category can be further broken down into two sub-categories: one informs traders of the week’s most significant events, and the other discusses the impact of recent releases.

    Overall, this type of content provides the reader with a good level of understanding of what drives markets, but it does not delve deeper than that.

    Errante’s market analyses
    Errante’s market analyses

    Economic Calendars

    The economic calendar is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.

    Errante’s economic calendars
    Errante’s economic calendars

    My Key Takeaways After Exploring Errante’s Research Content

    Errante provides some essential research content, though I found there is room for improvement. The broker’s clients would benefit from having access to content from various providers. However, I felt a lack of nuance and the absence of some third-party tools that could diversify perspectives.

    Education

    4.3
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    Errante offers a wide range of educational videos and webinars. However, it does not provide any written articles or educational courses. I thus assessed that the broker’s educational content is easy to use but lacks depth. Overall, I was impressed by the strong emphasis on technical analysis, but would have expected to read more about risk management, fundamental analysis, or the psychology of trading.

    Errante features 72 platform videos on how to use MT4 and MT5 directly from the website. There are an additional 16 videos introducing beginners to the basics of trading, plus several videos for more experienced traders that can be accessed with a deposit of at least $300.

    Errante’s educational videos
    Errante’s educational videos

    The broker excels in the quantity and quality of webinars it offers to its clients. I appreciate that they are available in multiple languages. An extensive collection of past webinars is also accessible on the broker’s YouTube channel.

    The webinars cover a wide variety of topics, some of which are pretty complex and practical. I deemed the content sufficiently sophisticated to help novice traders get to the next level.

    Errante’s educational videos
    Errante’s educational videos

    The Bottom Line

    Founded in 2019, Errante is a derivatives broker that is headquartered in the Seychelles. It provides its clients access to over 120 tradable instruments from several asset classes via the MetaTrader 4&5 and cTrader platforms.

    The speed of Errante’s order execution is rather slow. However, the broker offers a good choice of services and tools to accommodate the needs of day traders, such as its VPS hosting for low-latency trading. The spreads on its Standard account are rather elevated, thought the competitiveness of Errante’s fees gets better on its other account types.

    Errante has also developed a sufficient range of educational materials and research tools. However, there is room for improvement.

    My overall impression of Errante is mostly a positive one. The broker offers a decent range of services and is best suited for medium-term day trading.

    FAQ

    Errante is headquartered in Mahe, Seychelles.
    My research showed that Errante is generally safe to trade with. It holds CySEC regulation and adheres to most safety requirements, such as negative balance protection. The broker has also issued private indemnity insurance.
    Errante makes money from spreads, overnight financing fees and account related fees.
    Accounts can be funded by bank wire transfer, debit/credit cards, digital wallets and cryptocurrencies.
    The minimum deposit amount is $50 or €50.
    Deposits can be made using bank wire, credit and debit cards, e-wallets, and crypto-wallets.
    Withdrawals can be processed via bank wire, credit and debit cards, e-wallets, and crypto-wallets.
    Transaction times may vary between 3 to 8 business days.
    The maximum leverage with Errante is 1:500.
    Errante incorporates MetaTrader 4, MetaTrader 5, and cTrader.
    Errante offers a decent range of educational content, and its account types are quite accessible, making it a good choice for beginner traders.
    Yes, it does.
    Errante can be used by scalpers, provided that traders use VPS to ensure low-latency trading. Otherwise, Errante’s execution speeds are too slow to mitigate the risk of negative slippage.
    Yes, auto-trading is available via MetaTrader’s Expert Advisors (EAs) feature. It can also be practiced on the cTrader platform.
    No, Errante is not a good choice for hedging because the broker does not offer a sufficient number of lower-risk securities, such as ETFs and bonds.
    No, spread betting is not available with Errante.
    Yes, Errante offers VPS hosting.
    No, Errante operates as an STP broker without a dealing desk.
    No, Errante does not operate a bank.

    See Errante Full Information

    Headquarters CountrySeychelles
    Foundation Year2019
    RegulationsCySEC (Cyprus), FSA (Seychelles)
    Publicly TradedNo
    Number Of Employees0-50
    Trading Desk TypeNo dealing desk, STP
    Trading PlatformsMT5, cTrader, MT4
    Restricted Countries
    Canada, United States
    Supported Languages
    English, Russian, French, Portuguese, Arabic, Italian, Spanish, Chinese, Farsi, Greek, Vietnamese, Malaysian, Indonesian, Japanese
    Min Deposit$50
    Max Leverage1:30 (CySEC ), 1:500 (FSA)
    Deposit OptionsCryptocurrencies, PerfectMoney, Wire Transfer, Skrill, Neteller, Credit Card, Debit Card, AdvCash, SticPay
    Withdrawal OptionsWire Transfer, Cryptocurrencies, Neteller, Skrill, Credit Card, Debit Card, SticPay, AdvCash, PerfectMoney
    Time to Open an Account9
    Products
    Currencies, Stocks, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingNo
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersNo
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    AutochartistNo
    Trading SignalsNo
    Platform Languages
    English, Russian, French, Indonesian, Portuguese, Arabic, Italian, Spanish, Chinese, Farsi, Japanese, Greek, Vietnamese, Malaysian
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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