Errante Broker
Positive Aspects of Errante Broker
- Excellent customer support
- Fast processing of withdrawal requests
- Variety of deposit and withdrawal methods
- Compatibility with Irpay for Rial deposits and withdrawals
- Low and competitive spreads
- Support for diverse trading platforms
- High variety of trading instruments
- Acceptable trade execution speed
Negative Aspects of Errante Broker
- Relatively new and inexperienced broker
- Comparatively low leverage options
- No Cent or Nano account available
- Restrictions on keeping trades open in Islamic accounts
Errante Broker’s Track Record
Errante Broker, which began its operations in the forex market in 2018, has quickly established itself among leading brokers in Iran by providing outstanding services and a professional team, despite being relatively new in comparison to its more experienced competitors.
Errante is part of the Errante Group, which consists of three companies: Errante Securities Ltd, Errante Trading LLC, and Notely Trading Limited, each operating under different regulatory bodies. Iranian and Persian-speaking traders can open accounts under Errante Securities Ltd and Errante Trading LLC.
Errante offers four different types of trading accounts and over 200 tradable instruments, allowing users to trade on platforms like MetaTrader 4, MetaTrader 5, and cTrader. Errante is known as one of the few brokers that provide services to Iranians and supports the cTrader platform.
Errante Broker Trading Accounts Overview
Errante Broker provides four different types of trading accounts, including Standard, Premium, VIP, and Tailor Made accounts. These accounts differ based on minimum investment and spread amounts.
Here are the detailed features of each trading account:
Standard Account
- Spread: Starts from 1.5 pips.
- Minimum Deposit: $50 is required to open this account.
- Benefits: Users of this account gain access to free educational webinars and expert consultations.
VIP Account
- Minimum Deposit: $5,000 is required to open a VIP account.
- Spread: Starts from 0.8 pips.
- Additional Benefits: VIP account holders have access to free VPS services and advanced educational tools.
Tailor Made Account
- Spread: Features zero-pip spreads.
- Minimum Deposit: $15,000 is required to open this account.
- Additional Benefits: Along with advanced educational content, this account offers special privileges to its traders.
Premium Account
- Spread: Starts from 1 pip.
- Minimum Deposit: $1,000.
- Benefits: In addition to dedicated support, users receive access to advanced educational content, helping them develop their trading knowledge and skills.
In the Standard and Premium accounts, trading costs only include the spread. Conversely, in VIP and Tailor Made accounts, users pay a commission per lot traded, which allows for lower spreads.
Regulation and Credibility of Errante Broker
Errante operates through three different companies, each regulated by different authorities. European clients benefit from Errante’s services under the Cyprus Securities and Exchange Commission (CySEC), known for its reliability.
In contrast, Iranian users trade under offshore regulations from the Seychelles Financial Services Authority (FSA) and St. Vincent, which may not be as stringent as CySEC.
In December 2021, Errante Broker was added to the list of top regulated brokers on FXEMPIRE, a renowned international forex website. Being listed alongside prominent brokers such as ICMarkets, FxPro, and Plus500 highlights Errante’s efforts to provide global-level services to its clients.
A standout feature of Errante in this list is that it was the only broker offering services to Iranian users, showcasing its special commitment to serving niche markets.
Account Insurance at Errante Broker
Security of traders’ assets is a significant concern when working with brokers. Errante Broker addresses this concern by providing insurance coverage to its users.
Accounts at Errante are insured by Lloyd’s, a well-known UK insurance company, with coverage up to €1 million. This insurance protects against system errors, negligence, fraud, mistakes, and other risks that could lead to financial losses.
This action significantly boosts Errante’s credibility and financial security for its traders, which is a major advantage for its users.
The insurance certificate is a testament to Errante’s responsibility and trustworthiness toward its clients.
Errante Broker’s Islamic Account
For traders, especially those who trade long-term or consider religious aspects, overnight swap charges are always a concern. In many brokers, providing suitable Islamic accounts can be challenging.
Islamic accounts at Errante are available for all four account types. Users can request a swap-free account via Errante’s portal. This feature covers all instruments, including stocks, oil, and cryptocurrencies, with no swap charges.
The main limitation is that each trade can only remain swap-free for up to 7 nights, after which swap fees are applied from the 8th night onward. For cryptocurrencies and minor forex pairs, the swap-free period is only 3 nights.
Despite these limitations, Errante still offers one of the best Islamic account conditions. For more information about Islamic accounts, users can contact Errante’s support team.
How to Register and Open an Account with Errante Broker
Fortunately, Errante Broker’s website fully supports the Persian language, making the registration process simple. To open an account, just follow these steps:
- Access the Registration Page: Start by clicking here to go to the relevant registration page.
- Fill in Your Personal Information: Complete the required personal and initial information fields carefully.
- Email Verification: An email will be sent to you for account verification, which you need to confirm through your inbox.
- Complete Additional Information: After verifying your email, you will be taken to a page where you must fill out additional information.
- Upload Documents for Identity Verification:
- Identity Verification: You can upload your passport, national ID (both sides), or driver’s license. These documents should clearly display your identity.
- Address Verification: Use utility bills, bank statements, or car insurance documents. These documents must clearly show your name and residential address. Errante uses this information to ensure compliance with relevant regulations.
Once you’ve uploaded the documents, the verification process usually completes within the same day, and you will be notified via email.
Congratulations! You have successfully opened an account with Errante Broker.
Errante Broker Bonuses
Errante offers bonuses to traders who open an account and make their first deposit. It is important to note that identity verification and full account confirmation by the broker are required to receive the bonus.
A significant advantage of this bonus is that the profits made from trading can be withdrawn at any time, with no restrictions.
Errante’s deposit bonus can be up to 30%, depending on your first deposit amount. The broker provides a table that shows the bonus amount based on the first deposit. This bonus system can serve as an incentive for new traders and help them start their trading journey with extra capital.
What Trading Assets Does Errante Support?
After registering and opening a trading account with Errante, you will gain access to a wide range of trading instruments designed to meet the needs of various traders:
- Forex Currency Pairs: Trade 48 different currency pairs.
- Precious Metals: Gold, silver, palladium, and platinum are available for trading.
- Energy: Includes West Texas crude oil, Brent oil, and natural gas.
- Cryptocurrencies: Trade 26 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash.
- Company Stocks: Trade stocks of over 100 major global companies such as Apple, Tesla, Amazon, Google, and Bank of America.
- Indices: Access 9 major global stock indices like Dow Jones, S&P 500, and indices from Japan, Germany, Australia, and the UK.
- Commodities: Cocoa, coffee, sugar, cotton, linen, and copper are available for trading.
Leverage at Errante Broker
- Forex Pairs: Up to 1:500
- Gold: 1:500
- Stocks: 1:20
- Cryptocurrencies: 1:100
- Stock Indices: 1:100
- Oil and Gas: 1:100
This variety of assets and leverage options makes Errante an attractive option for different types of traders.
New Cryptocurrencies in Errante Broker
In recent years, the cryptocurrency market has surged, and forex brokers have been quick to enter this expanding space.
While forex brokers have typically offered fewer cryptocurrencies and higher commissions compared to crypto exchanges, this issue is gradually being addressed.
Currently, Errante offers 26 cryptocurrencies for trading. This includes Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash Coin, EOS, IOTA, NEO, OmiseGO, Qtum, Tron, Monero, Zcash, Cardano, Algorand, Avalanche, Aave, Axie Infinity, Bitcoin Cash SV, Polkadot, Chainlink, Polygon, Solana, Uniswap, and VeChain.
The commission for Bitcoin trades is around $20, which is considered reasonable compared to many exchanges.
In Errante, cryptocurrency trading is available with leverage up to 1:100. While this leverage provides an opportunity to amplify profits, it also introduces risks, so traders should use it carefully and with full awareness.
Supported Trading Platforms at Errante Broker
One of Errante Broker’s significant advantages among brokers offering services to Iranian traders is the variety of trading platforms it provides. This sets Errante apart from brokers like Windsor, which only supports MetaTrader 4.
At Errante, traders can use three supported platforms: MetaTrader 4, MetaTrader 5, and cTrader. While MetaTrader 4 and 5 are commonly offered by many brokers, the inclusion of cTrader in Errante is a unique feature.
Though cTrader is not as popular as MetaTrader, it has many fans among professional users due to its specific features and capabilities.
This diversity in trading platforms allows traders to choose the platform that best suits their needs and preferences.
As of March 2023, Errante has provided users with access to the cTrader platform. This move, compared to many older brokers that haven’t developed their services significantly, is highly commendable.
The addition of cTrader to Errante’s platform offerings demonstrates the broker’s commitment to progress and innovation. This increase in platform diversity can attract more traders and shows that Errante is dedicated to offering cutting-edge and top-tier services.
This can be seen as a positive sign for Errante’s future growth in the forex market and highlights its commitment to continually improving its services to meet the diverse needs of traders.
Customer Support at Errante Broker
Customer support is one of the most critical aspects of any business, especially forex brokers. Having Persian-speaking support in a broker that serves Iranian clients is both logical and essential. Fortunately, Errante Broker meets this need by providing Persian-language customer support.
Errante users can contact the broker’s support team via Telegram chat from 9 a.m. to midnight, seven days a week. Additionally, the live chat on the Errante website is available in Persian from Monday to Friday during the same hours.
Positive feedback from users indicates that Errante’s support team goes beyond standard responses and provides detailed and accurate answers.
This is very important for users, as it ensures that their needs are effectively and precisely met. The extended support hours are also a positive change, emphasizing the availability and support for users throughout the day.
Final Thoughts
In this article, we’ve provided a detailed review of Errante Broker and outlined the complete process of registering and opening an account. Errante, as a regulated brokerage, was established to provide a secure and convenient trading environment.
With support for three popular and diverse trading platforms like MetaTrader 4, MetaTrader 5, and cTrader, Errante offers a comprehensive trading experience in forex, stocks, indices, and cryptocurrencies.
To begin trading with Errante, traders need to first register and open an account. Errante offers four different types of accounts, each with its own unique features, including varying minimum deposits and spreads.
Finally, in some regions, accessing the Errante Broker website may require the use of a VPN.
