By Liam Thomas
What do you need to know before you start trading with EXANTE, one of the top brokers in the current market?
Registering on an online trading platform can transform your experience, streamline operations, and help you realize your full investing potential. However, it also comes with many considerations, and it is necessary to exercise due diligence before you fund your account, share your documents for verification, or even install a broker’s platform on your device.
Discover all the crucial details in this comprehensive and honest review of the EXANTE broker.
EXANTE Is Legitimate
The most critical point to discuss is whether EXANTE is a legitimate broker.
Established in 2011, EXANTE is licensed by four governmental agencies in different countries:
- Malta Financial Services Authority (MFSA);
- Cyprus Securities and Exchange Commission (CySEC);
- The UK Financial Conduct Authority (FCA);
- The Securities and Futures Commission of Hong Kong (SFC).
To comply with the requirements of MFSA and CySEC, EXANTE also had to align its services with the regulations outlined in the EU directive on markets in financial instruments (MiFID II).
While this makes EXANTE a legitimate financial service provider, it is also worth noting that the broker has been awarded by reputable organizations and companies. For instance, according to Gazet International, EXANTE was the best trading and investment solution provider in the UK in 2023, while Wealth & Finance named EXANTE the best multi-asset financial services firm the same year.
EXANTE Is Not Only for Advanced Traders
If you look at EXANTE customer reviews, you are likely to find many positive opinions from seasoned investors who find this platform particularly useful for executing their complex strategies.
This is indeed true. EXANTE allows its customers to access over 50 markets around the world and trade over a million products such as bonds, futures, funds, stocks, ETFs, currencies, metals, and options. The broker also offers a wide assortment of tools for advanced trading, including the FIX bridge that can be integrated with the main EXANTE platform or other investment software for automated trading.
Yet, despite the extensive offerings catered to advanced traders, EXANTE is also suitable for beginners.
The broker provides a free demonstrative version of its software, which can be accessed by users immediately after creating an account without identity verification or depositing money.
With this version of the software, you can effectively simulate trading to practice your skills and become familiar with the platform’s functionality. EXANTE provides you with 1 million EUR in virtual funds to prepare you for real-time trading without risking real money.
EXANTE Does Not Charge Customers for Account Management
One of the paramount considerations when choosing a broker is the cost of services.
This is where EXANTE stands out from many other brokers, as it does not impose any costs for account management, helping its customers minimize expenses associated with trading. Furthermore, EXANTE does not charge investors for depositing funds.
Even though this broker does have an inactivity fee, it appears to be reasonable. You will be charged 50 EUR/GBP only if you have not traded or opened an order within the past 90 days and your balance is below 5,000 GBP. Otherwise, the broker will not impose charges on you.
Additionally, the broker offers free margin utilization below 100%.
However, fees do apply in the following cases:
- Withdrawing funds;
- Orders via phone or email for instruments available on the platform, regarded as manual execution;
- Holding negative positions in cash;
- Trades involving specific exchanges;
- Shorting stocks.
Depending on the operations you perform through the EXANTE platform, you may also need to pay custody fees for bonds and overnight fees for short trades and FX.
EXANTE Does Not Have Minimum Requirements for Transactions
Unlike many other brokers, EXANTE provides investors with the freedom to adjust their transactions to individual preferences. The broker does not impose limitations on the sum or number of traded instruments.
There are no minimum or maximum transaction size restrictions.
However, despite this broker’s policy, there may be requirements imposed by specific markets.
EXANTE Supports Using Bonds as Collateral
One of the powerful features available to EXANTE customers is the ability to use bonds as collateral for trading other securities.
The percentage rate is variable, determined by the bond type, rating, and expiry date.
This option is available only for bonds that were transferred by other financial institutions to traders’ accounts or purchased directly through the EXANTE platform.
Bottom Line
EXANTE is a powerful platform that can be used as a one-stop solution for both advanced and beginner traders. In addition to offering a wide range of markets and products, the broker provides algorithmic trading and a free demo mode of its software, which is particularly useful for new investors. Meanwhile, free account management allows EXANTE customers to optimize their trading expenses.
