Exante offers its clients a single DMA/NDD account, however, over 50 financial markets can be traded through it on its multiproduct proprietary platform with leverage up to 1:50 and tight variable spreads.
There are no micro tradable lots for those unwilling to trade in large volumes, nor swap-free (Islamic) accounts available to Exante’s clients.
The Company. Security of Funds
Exante is a Maltese broker founded in March 2011, which offers trading in more than 20 currency pairs, precious metals, options, bonds, stocks and ETFs through its proprietary multiproduct platform. This broker places a special focus on stocks trading, as it provides access to more than 25 exchanges all over the world, including NYSE, NASDAQ, CME, LSE, LIFFE, Euronext, XETRA, MOEX, TOCOM, etc.
EXANTE Ltd., doing business as EXANTE, holds a Category 2 investment services license issued by the Malta Financial Services Authority (The MFSA), which qualifies it as Fund Manager. Fund Managers are authorized to provide any investment service and to hold or control clients’ money or customers’ assets, but not to operate a multilateral trading facility or deal for their own account (or underwrite or place instruments on a firm commitment basis).
MFSA is the single regulator for financial services in Malta and also manages the Registry of Companies and responsibility as the Listing Authority.
Apart from the minimum capital requirement of €730,000, which should be satisfied on an ongoing basis, license holders are obliged to have local presence, to apply adequate internal controls for their everyday operations, to maintain a risk management system, and regularly report to MFSA, among other requirements.
Regulated brokers are also required to abide by ESMA guidelines on the sale of complex products where online forex is specifically mentioned as a complex product. Malta has been a member of the European Union since 1st May 2004. So, every MFSA-regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.
Minimum Initial Deposit
In order to open an account with EXANTE, traders have to invest a minimum of $10 000. Such minimum initial amount is high for the forex market. Other European brokers require less: For instance, FCA-regulated HY Markets demands $50 from its clients as a start and Cyprus-based FXTM – just $5.
Spreads & Commissions
Exante`s sole account provides tight variable spreads, averaged 0.3 pips on EUR/USD, but also include a commission of 0.5 pips per trade. So, basically, average trading costs of ECN account holders amount to around 1.3 pips for the EUR/USD pair, commission included, which is average for the forex market.
For purposes of comparison, Cypriot broker FXTM charges $2 per lot and offers average spreads as low as 0.5 pips on the EUR/USD on its ECN accounts (accessible with $500 initial deposit).
For more information, you may look up and compare real-time spreads of 15 leading brokers here.
The maximum leverage level offered by EXANTE is 1:50, which is considered a low ratio, however this broker obviously targets big investors with capital to spare, who supposedly don’t need high leverage levels. None the less, if you need higher leverage, many EU brokers offer such – for example, FXTM provides leverage up 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
If you are looking for the renown MetaTrader 4 (MT4), you will not find it with Exante. Instead, the broker has developed its in-house multifunctional Automated Trading Platform (ATP). It provides fast, stable and reliable performance and integrates flawlessly with outstanding applications through its FIX tool.
Exante’s in-house platform. Click to enlarge
You can trade equity, indices, commodities, currencies and even bitcoin right from the browser, an application for your desktop computer (Windows, Mac OS or Linux-based) and a mobile application for iOS and Android devices.
The platform offers a Click-Trade module, where it is possible to instantly place a bid or ask order for an instrument at the market price. Real-Time Market Depth is also available.
Exante also provides API integration and support as well as multi-product portfolios management from one trading account.
Methods of Payment
Unlike most brokers, Exante does not offer a variety of deposit and withdrawal methods. It only uses bank wire transfer.
EXANTE is a reputable Maltese broker that targets mainly institutional clients and high-volume traders and places a focus on stocks trading on its in-house platform, which also provides connectivity to a multitude of stock exchanges.
Exante Review Conclusion
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