While getting started on your financial journey can be an exciting experience, it is essential that traders do their research. This is because picking a suitable broker is vital to your trading experience. This means traders should have a thorough understanding of what the broker’s background is, their fees and rates, account types, product offerings and more. Traders should also make sure that the broker is reputable and trustworthy, so they can have peace of mind knowing funds are securely stored. In this EXANTE Sec. review, we answer some frequently asked questions so that you better understand EXANTE and what it offers.
What is EXANTE?
EXANTE is a leading global investment company that offers a wide range of trading instruments from global markets ranging from Europe and the US to the Asia-Pacific region. The broker was founded in 2011 by Alexey Kirienko, Anatoliy Knyazev and GatisEglitis, and is registered in all the regions it is based in. EXANTE prides itself on transparency, and it prioritises technology and financial information accessibility. This is reflected in the brokerage firm’s dedication to providing personalised user experiences and superior trading execution.
As of the time of writing, EXANTE serves clients in more than 100 countries. Some of their clients include professional traders, brokers, asset managers, banks, and other financial institutions. Clients can access over 50 markets and 600,000 financial instruments including currencies, stocks, Exchange-Traded Funds (ETFs) metals, bonds, options, and futures. The brokerage firm also has $2 billion in assets under management (AUM) and provides a network of more than 1,100 servers all around the world to ensure the lowest latencies and safe data transfer.
Is EXANTE a scam?
Some traders may be wondering is EXANTE a scam? They will be pleased to know that EXANTE is not a scam – the brokerage firm is instead highly reputable and trustworthy. Currently, EXANTE is licensed and regulated in the UK by the FCA, in Malta by the MFSA, in Cyprus by the CySEC and in Hong Kong by the SFC. As EXANTE is a brokerage firm that operates in the EU, it complies with the MiFID II regulations, which make sure financial operations in the EU are regulated, with traders and investors being protected. Additionally, adhering to the MiFID II directive, EXANTE segregates its assets from the client’s assets. Customer funds are therefore securely stored on separate accounts with large global banks. EXANTE also regularly undergo audits by a Big Four company.
What accounts does EXANTE offer?
There are a few different accounts EXANTE offers. These are split between the live trading accounts and demo accounts. Here is an in-depth explanation on them below:
Live trading accounts
There are two different types of live trading accounts traders can open. The first is an individual trading account. Individual accounts have a minimum initial deposit of 10,000 EUR/GBP or its currency equivalent, and holders must provide proof of identity (such as a passport or government-issued identity card) and proof of residence (such as a utility bill). Do note that users must provide two different documents – one document cannot confirm both requirements.
The second is the corporate trading account. The corporate accounts have a minimum initial deposit requirement of 50,000 EUR/GBP or its currency equivalent and has the same access alongside more sophisticated trading features if required. To open a corporate account, one must provide extra documentation such as proof of active status, proof of registration, incorporation documents, Tax Identification Number (TIN), and more. EXANTE’s Onboarding department may request additional documents if needed.
EXANTE also provides a demo account to users. The demo account is automatically granted to those who have registered an account with EXANTE – no further documents required. The demo account provides traders with virtual funds of 1,000,000 EUR as a default, although the currency can be adjusted upon request. This makes it a great way for traders to practice their trading skills before committing to participating in the financial markets with real money on the line. That said, the market data in a demo account is delayed by at least 30 minutes in the simulated trading environment.
Are there restrictions to opening a trading account?
EXANTE is a global investment company that works with a wide variety of clients all over the world. However, there are a few restrictions issued by the broker concerning account registration.
As of the time of writing, EXANTE does not work with clients from the US (citizens and residents), Japan, Iran, the Democratic People’s Republic of Korea (DPRK), Belarus, and Russia. Traders from the following countries and regions also require enhanced due diligence, such as Afghanistan, Bosnia and Herzegovina, Ethiopia, Iraq, Lao PDR, Syria, Uganda, Vanuatu, and Yemen.
How is EXANTE’s customer support?
EXANTE provides robust customer support to all its clients. Clients can simply contact them in a variety of different ways, in case any questions or issues arise. These include through email, chat, telephone, or callback requests 24/7. Aside from working around the clock, EXANTE’s support team states that it guarantees an answer within three minutes upon receiving a receipt of a trader’s request.
Aside from the quick response time, the brokerage firm also prides itself on offering multi-language customer support. This can be helpful if a trader’s first language is not English. Other languages that EXANTE supports includes but is not limited to Chinese, German, Italian, Portuguese, and Spanish.
Overall, we can say that EXANTE is a highly reliable and trustworthy broker that is compliant with many regulatory frameworks in all the regions it operates in. In addition, the brokerage firm offers robust customer support, so clients can enjoy a smooth trading experience. This is fantastic for traders looking to trade efficiently without much fuss. As such, we can recommend EXANTE for traders to use, regardless of experience or skill level.