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Errante Review

Errante Review (2022): Should You Trust this Broker With Your Money?

Online forex trading can be a profitable venture. However, you need to choose the right investment platform and broker to get these returns. Before investing your money with any forex broker, you need to confirm that they are legitimate. Is Errant one of these safe traders? This in-depth Errante review provides the answer to this question and more.

If you have traded with Errante before and lost money and you would like to recover it, we can help you recover it. Our team of experienced experts will work with you to get the cash back. Schedule a free consultation session with us today! 

What Is Errante?

Established in 2019, this forex broker enables customers to trade in forex, metals, shares, indices, energy, and commodities. As an online broker, they claim to provide high-end and reliable services that clients can trust.

Whether you are a new or seasoned trader, Errrante claims that it can elevate your online trading experience because they operate at the highest level of transparency and have the latest security protocols to protect client funds. But how true is this? 

The broker has features and services that make it appear legitimate. Let’s take a closer look at some of these features.

Account Types

Errante has four account types; Standard, Premium, VIP, and Tailor-made. Each of these account types has different features. 

Errante account types

If you choose the basic Standard account, you can make deposits as low as $50 and access free webinars. The Premium account provides access to multi-asset classes, personalized customer support, daily market summary, and enhanced educational material. 

On the other hand, the VIP account has 0% on fees, withdrawals, and deposits, tight spreads, and educational materials, while the Tailor-made option has spreads from 0.0, custom-made solutions, and personal requests. 

Trading Platforms

Like most legitimate brokers, Errante allows customers to trade via MT5 software. This is one of the commonly used software globally that provides an in-depth analysis of the investments. This platform is available for download for Android, iOS, Windows, and Mac. 

Education Materials

The Errante website has an Education Centre that new traders can use if they need to start trading. The Education Centre has videos, webinars, and market analysis tools. Therefore, if it’s your first time trading with an online broker, you can use these tools as a guide. 

Is Errante Regulated?

Based on the information on their website, Errante is regulated and authorized by the Cyprus Securities and Exchange Commission (CySEC), under license number 383/20 as Notely Trading Ltd. 

Errante regulation

Thanks to this license, Errante provides cross-bordering passporting services in Austria, Germany, Greece, Ireland, Italy, Poland, Portugal, Netherlands, and Spain. The company is also governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union. 

Additionally, Errante Securities is also regulated in other countries such as Seychelles. The Seychelles chapter is regulated by the Seychelles Financial Services Authority (FSA) under the license number SD038. 

While the regulation makes the broker appear legitimate, it’s not the only measure. Several online brokers have licenses but turn out to be scammers. 

What Are the Red Flags That Make Errante Appear Like A Scam?

Here are some signs that Errante isn’t who they claim to be.

Multiple Negative Customer Complaints

Before investing with an online broker, it’s advisable to first check the feedback from previous customers. This will provide you with more information about how the broker operates prior to committing any funds. 

Errante scam
Errante cancelling profit

A quick check on Forex Peace Army shows that Errante has a poor rating of 2.5 out of 5 stars. The complaints on this site range from issues with profit withdrawal to loss of funds. Errante claims to be transparent with customer funds, but this appears to be a lie. 

False Positive Reviews

The online broker has some positive reviews, but some of them are questionable. On the Forex Peace Army review site, a 5-star rating has been removed because the review came from the exact location as Errante’s representatives. 

Errante fake reviews

This clearly indicates that the forex broker is hiding something and puts into question the other positive reviews and high ratings on sites such as Trustpilot

Regional Limitations

While the broker claims to be regulated to operate in most countries in the EU region, it still has some country and regional restrictions. According to their website, they don’t provide services in Syria, the USA, North Korea, Japan, Belgium, Iraq, and Canada. 

Regional limitations

These limitations raise questions about the trustworthiness of the broker. This could be a sign that they are not a legitimate company.

High Leverage

For EU-based traders, Errante offers a leverage of up to 1:30; however, non-EU traders get a high leverage of 1:500. This is quite high and puts the customers at a higher risk if they lose the funds.

The Location

Errante lists Nicosia, Cyprus, as its headquarters. In addition, the company is regulated in Cyprus and Seychelles, which are both island locations. These locations are common with offshore accounts; therefore, you are at a high risk of losing your cash if you invest it with Errante. 

Just because the company is regulated and licensed, it doesn’t mean that they are legitimate. You could still lose your funds due to the loopholes in these countries. This is a red flag that this brokerage firm is not the most ideal for your investments.

Errante Review Conclusion: The Final Verdict

It’s clear that Errante is not as legitimate as it appears on its websites. The company paints a picture of a transparent company that offers the best online trading experience. It also has some features such as the MT5 trading tool, educational tools, CySEC regulation, and different account types to prove its legitimacy.

However, this brokerage firm is a regulated scam based on customer complaints, location, and country restrictions.

Have you traded and lost money to Errante before? We can help you get it back. Trader Protection has years of experience helping investors recover their money. Book a free consultation session with our team today. 

Author

Alan Tepfer

Alan Tepfer has been a pioneer of funds recovery for the victims of online trading scam victims for almost five years. His experience in chargebacks, online trading, and banking spans for close to a decade.

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