Choosing the correct broker is vital before you begin trading. This means traders should have a thorough understanding of what services the broker provides, their fees and rates, account types, and more. Traders should also work with a broker that is licensed and reputable so that they know their funds are being safely held. For those interested in EXANTE, you can read another review on the brokerage firm here at https://todaynews.co.uk/2023/06/01/review-of-exantes-trading-platform-functions-features-and-our-opinion/.
What is EXANTE?
EXANTE is a global investment company offering direct access to the financial markets through its trading and investment solutions. It was established in 2011 by founders Alexey Kirienko, Anatoliy Knyazev, and GatisEglitis, and has over a decade of experience delivering bespoke solutions to clients. At the time of writing this article, the company has $2 billion in its total AUM.
Currently, the broker offers over 600,000 financial instruments in more than 50 markets in the US, Europe, Asia, and Australia, that traders can take advantage of. The brokerage firm is also proud of having a network of over 1,100 servers from all around the world to ensure the lowest latencies and safe data transfer during trade execution.
EXANTE has clients from all over the world, including professional traders, brokers asset managers, banks, and other financial institutions. Some of their partners in providing counterparty services include HSBC, Santander, ING, and Bank of China.
What are EXANTE’s licenses?
Traders will be pleased to know that EXANTE is regulated in all the regions they are based in. In the UK, EXANTE is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, it is licensed by the Securities and Futures Commission (SFC). In Cyprus, the brokerage firm is licensed by the Cyprus Securities and Exchange Commission (CySEC), while in Malta it is licensed by the Malta Financial Services Authority (MFSA). This means EXANTE can provide financial services to corporate and retail investors that are compliant with strict local and global regulations.
As EXANTE operates in the EU, is it also subject to and compliant withMiFID II regulations. This is a regulatory framework that regulated financial markets in the EU and improves protection for investors. It aims to standardise practices in the financial industry and regulated off-exchange and over-the-counter (OTC) trades in the EU.
Adhering to MiFID II regulations, EXANTE segregates its assets from clients’ and will not use client funds for any business purpose. Customer funds are securely stored on separate accounts with large global banks, and traders can have peace of mind knowing their funds are secure. EXANTE also regularly undergo audits by a Big Four Company.
What type of accounts does EXANTE offer?
There are a few different accounts EXANTE offers to clients.
A demo account is automatically given once a trader registers with EXANTE. Unlike live trading accounts, a demo account only allows for paper trading in a simulated environment. This means traders will not incur any monetary losses, but also will not make any gains either. Demo accounts are a great way for traders to hone their trading skills and practice their strategies in a risk-free environment. With EXANTE, the brokerage firm offers a virtual 1,000,000 EUR for traders to start paper trading with. This amount can be adjusted by contacting customer support.
Market data in the demo account is delayed by at least 30 minutes, which may affect the outcome of paper trades.
EXANTE offers two different account types when it comes to live trading – individual and corporate. For an individual account, the minimum required funding is 10,000 EUR/GBP. Traders must submit proof of identity (such as a passport or government-issued identity card), and proof of residence (such as a utility bill, bank account statement, or Certificate of Good Conduct).
For a corporate account, the minimum required funding is 50,000 EUR/GBP. The documentation needed includes proof of registration, proof of active status, power of attorney, Tax Identification Number (TIN), Corporate Document Certification, and more.
What customer support does EXANTE provide?
Aside from providing a comprehensive trading platform, EXANTE also offers robust customer support for clients. Clients can reach the support team through email, chat, telephone, or callback requests 24/7 for any issue. Aside from working around the clock, EXANTE guarantees an answer from their support team within three minutes of receiving a receipt of a request.
For those whose first language is not English, EXANTE has that covered. The brokerage firm’s customer support team provides multi-language support in German, Italian, Portuguese, Spanish, and more.
Does EXANTE offer features for algorithmic traders?
EXANTE does offer various features for algorithmic traders. Algorithmic traders can trade via FIX API. More specifically, EXANTE supports a FIX 4.4-based API that enables data transfer, quote retrieval, and full-scale trading automation. The FIX bridge gives access to all markets available, allows traders to obtain normalised data from all exchanges, and enables the execution of trades.
Unlike other similar solutions from industry peers, EXANTE’s API solution allows traders to monitor all account activity in the trading platform interface out-of-the-box, as well as using API requests. EXANTE provides an in-depth integration manual on its website and will also help traders establish connections through their hubs in London, Frankfurt, Chicago, and New York. While FIX and WEB API are free of charge, this service is only available to clients with an account value higher than 50,000 EUR/GBP.
It is important to do research on them before committing to a specific broker. Overall, EXANTE is a reliable and trustworthy broker that is compliant with many regulatory frameworks. It also provides great customer support and features for algorithmic traders. After reviewing EXANTE’s products, regulation, and solutions, we can recommend EXANTE for all traders regardless of experience or skill level.