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Exante Broker Review
Exante is an online forex and CFD broker that has been in business since 2011. The broker is an entity under Malta-based Exante Ltd. The business is authorized to function as a fund manager by the Malta Financial Services Authority. Due to passporting rights and Malta’s membership in the EU, Exante is now able to provide services to any EU citizen thanks to this registration.
Many Traders Find Exante Difficult to Use
For traders looking to invest with Exante, the floor is very high. To open an account with the broker, a $10,000 minimum deposit is necessary. A lot of online brokers, only require $100. It is obvious that Exante is pursuing some large fish.
They don’t accept credit cards or any other forms of payment; they only accept wire transfers to fund accounts. For traders who want to test out the broker, they also offer a demo account. Users can access $1,000,000 in fictitious funds through the demo account to familiarize themselves with the spreads and platform.
Spreads and Leverage
Exante only provides variable spreads, and these spreads are typically advantageous. A common benchmark spread is the EUR/USD spread, which is about 0.3 pips. This is indeed too good to be true. 0.5 pip in commissions are added to the spreads that the broker charges for each trade. Their spreads are therefore about average.
The broker offers users leverage of up to 1:50, which is significantly more than is advised for new traders. Brokers are limited to offering leverage of up to 1:30 by the ESMA. By only providing “professional” accounts, the broker may be lawfully skirting this restriction.
Exante Trading Platform
The broker decided to create their own platform rather than using the well-known MetaTrader 4 one. While not as feature-rich as MetaTrader 4, this platform is still far superior to those created by other brokers. It can be used on a PC or Mac in a web browser and as an app for an iOS or Android device. There are many features that make trading simpler, and the layout is simple to understand and intuitive.
Exante Difficult Withdrawals
On the surface, this broker seems to be doing everything right, but there are some unsettling online customer testimonials. Making withdrawals is the most common complaint. Some users claim that in order to withdraw their money, they were subjected to irrational requests to confirm their identity.
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