Errante Broker Review - Is It Regulated and Legit?

Errante Broker Overview

Errante is an offshore-regulated broker based in Seychelles, offering a range of market instruments including Forex, commodities, indices, shares, metals, and cryptocurrencies. While the broker is regulated by CYSEC and FSA, it operates in an offshore jurisdiction, which may raise concerns for some traders. Nonetheless, Errante provides a variety of account types, high leverage options (up to 1:500), and popular platforms like MT4, MT5, cTrader, and TradingView.

Pros and Cons of Trading with Errante

Pros:

• Variety of Trading Instruments: Errante offers a wide selection of market instruments such as Forex, commodities, metals, indices, and cryptocurrencies.
• Multiple Trading Platforms: Traders can choose between MT4, MT5, cTrader, and TradingView based on their preferences.
• 24/7 Customer Support: Errante provides round-the-clock support to assist clients with any issues.
• Regulated by CYSEC: Errante is regulated by the Cyprus Securities and Exchange Commission, providing some level of investor protection.
• High Leverage: The broker offers leverage of up to 1:500, which can be useful for traders seeking high-risk, high-reward strategies.
• Popular Payment Methods: Errante supports a variety of payment options, including credit/debit cards, wire transfers, e-wallets, and cryptocurrencies.

Cons:

• Offshore Regulation: Errante is regulated offshore (FSA Seychelles), which might not provide the same level of security as brokers regulated in major financial hubs.
• Regional Restrictions: Certain countries, including the US, Syria, and North Korea, are restricted from trading with Errante.
• Higher Spreads for Some Accounts: The Standard account starts with spreads from 1.5 pips, which might be higher compared to other brokers with tighter spreads.

Is Errante Safe for Trading?

While Errante is regulated by CYSEC and the Seychelles FSA, the fact that it is an offshore-regulated broker may be a concern for some traders. Offshore-regulated brokers often lack the same level of investor protection and are not as strictly monitored as brokers in highly regulated countries. Therefore, traders should carefully assess the risks involved when trading with an offshore-regulated broker.

Errantes Fees and Charges

Errante offers competitive fees for trading across various account types. The Standard account has a spread starting from 1.5 pips and no commission fees. For higher-tier accounts like the Premium or VIP accounts, spreads are tighter, starting from 1 pip and 0.8 pips respectively. The Tailor Made account offers even tighter spreads starting from 0 pips, but requires a significant minimum deposit of $15,000.

Customer Feedback and Reputation

Errante has received mixed feedback from traders. Some praise the broker for its wide selection of trading instruments, multiple platform options, and competitive leverage. However, there are concerns regarding its offshore regulation, regional restrictions, and relatively higher spreads for lower-tier accounts. Traders looking for a regulated broker in a more secure jurisdiction may want to consider other options.