Frequently Asked Questions (FAQs)

Yes, the security of our clients’ funds is important to us.  We offer, at no extra cost, the Errante Insurance Program to protect clients’ funds up to EUR1.000.000. 

Click Join now or Register  on our website, and follow the procedure.

The Errante Insurance Program covers errors, omissions, negligence, fraud, and other risks that may lead to financial loss up to EUR1,000,000 from market leading insurance broker, Lloyds of London. For more information, click here: https://errante.com/errante-insurance/ 

To claim on our Insurance program, please send an official complaint to compliance@errante.com within 2 weeks from the date of the incident. The Company will make a thorough investigation, and if the claim is validated, will raise the claim to Lloyd’s of London via the reinsurers for processing. Once the claim is approved by the insurance company, we will reimburse the client.

The registration procedure takes less than 5 minutes.  Please allow up to 24 hours for your account to be verified and activated.

If you have already opened a trading account, your account is verified and you have made a deposit, the next step is to download the MT4/MT5 which is under the Trading Tab. For your easy reference click here: https://errante.com/meta-trader-4/ or https://errante.com/meta-trader-5/.

• Proof of Identity – Clear colour copy of National Passport or Driver’s Licence or National Identification Card.
• Proof of Address – Clear colour copy of bank/card statement or utility bill (i.e. water/gas/ telephone/internet bill, etc).

Please note that proof of address should be dated within the last 6 months and that mobile phone bills are not accepted.

It is a regulatory requirement for all investment firms. If your account is not verified, you may not be able to gain full access to our services.

You may upload your documents at the time of your registration or later on via your personal portal.  Alternatively, you may send them by email to backoffice@errante.com.

If you wish to update your email address, residential address or registration name, please send an email to backoffice@errante.com from your registered email address and attach any relevant document for the change requested.

Visit your Errante Trader’s Menu and click the “Profile” tab. Select Navigate to Password and click “Change” found in the middle part of the page.

We take your privacy seriously and we have in place policies and procedures to safeguard your details. You can view our Privacy Policy which outlines how we handle your personal information.

We offer the following account types:

• Standard
• Premium
• VIP
• Tailor Made

For more details click here: https://errante.com/account-types/.

The minimum deposit for Standard account is 50 USD or EUR . Minimum withdrawal amount depends on the method used. Please refer to our Withdrawal Table on our website under Funding Methods.

Errante offers swap-free accounts for religious purposes only. However, fees may be applied once trades on certain instruments are open for a specific number of days. To apply for a swap-free account, please request this via your client portal. Each request corresponds to a specific trading account so if you have multiple accounts, then multiple requests are required.

Please contact our Back Office Department at backoffice@errante.com to make such a request through your registered email. You will then be advised on the procedure.

Yes. Please contact our Back Office Department at backoffice@errante.com for further details.

You may open 2 Trading Accounts for each currency.

A demo account does not have expiry date, and so you can use it for as long as you like. Any demo account that has been inactive for 90 days or longer (from the last login) will be closed.

1. Click the register button and open your New Errante Account. Fill out the form with your name, country of residence, date of birth, and set your password.
2. Specify your nationality, and mobile number as well as your residential address.
3. You will be kindly asked to specify your occupation and education level.
4. To understand your needs better, we should know more about your financial status and investment plans.
5. Right after that you may undergo the identify verification by uploading copies of the documents required.
6. Do not forget to check your inbox. The Errante Team will send you an email with account credentials. Please keep them safe.

You will be able to fund your account once it gets verified to start trading with Errante.

We offer variable spreads that can be as low as 0. We have no re-quoting: our clients are given directly the market price received from our Liquidity providers.  You can read more about our spreads here:

The leverage offered is up to 1:500.

Margin is the required amount in the deposit currency of the trading account needed to open or maintain a position. When trading forex, the Required/Used Margin for a specific position = Number of Lots * Contract size / Leverage. Here the result is originally calculated in the first currency of the traded pair and then converted into the base currency of your trading account, which will be numerically displayed on your MT4/MT5.

Margin calculation formula for forex instruments is the following:

(Lots * contract size / leverage) where the result is as always in the primary currency of the symbol.

For STANDARD accounts all forex instruments have a contract size of 100 000 units.

For instance, if the deposit currency for your trading account is USD, your leverage is 1:30 and you are trading 1 lot EUR/USD, the margin will be calculated like this:

(1 * 100 000/30) = 3,333 Euros.

Euro is the primary currency of the symbol EUR/USD, and because your account is USD, the system automatically converts the 3,333 EUROS to USD at the actual rate.

You can use our Calculator for your ease of use.

The CFDs margin formula is Lots * Contract Size * Opening Price * Margin Percentage.

The swap formula for all forex instruments, including gold and silver, is the following:

lots * long or short positions * point size

Here is an example for EUR/USD:

The client base currency is USD.
1 lot buy of EUR/USD.
Long position = -3.68
It is a buy position, therefore the system will take the swap rate for the long position, which currently is -3.68.
The point size = contract size of a symbol * minimum price fluctuation.
The EUR/USD point size = 100 000 * 0.00001 = 1.
If we apply the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
This means that 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.

Here is an example for gold:

The client base currency is USD.
1 lot buy of Gold.
Long position = -2.17
It is a buy position, therefore the system will take the long points, which currently is -2.17.
The point size = contract size of a symbol * minimum price fluctuation
The Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.

Please note that if the deposit currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.

The examples provided only serve as a guide and do not reflect the current charges.

A pending order is an order to buy or to sell an instrument when certain pre-defined prices specified by the trader are met. Essentially, when placing a pending order a trader informs their broker that they only want their order executed if the market price reaches a certain level.

Pending orders fall into two categories, limit orders and stop orders.

Limit orders can only be executed at the limit price specified by the trader. There are two types of limit orders; a buy limit order instructs that an instrument is bought at a specified price or lower while a sell limit order instructs that an instrument is sold at a specified limit price or higher. Since Limit orders guarantee that an order will be filled within the specified limits or not at all, they are thus useful in preventing slippage. However, even though they may prevent slippage, they run the risk of not being filled at times of high volatility.

Stop orders instruct that positions are opened or closed when specified prices are reached and are widely used to lock profits and minimize losses. Buy stop orders are entered above the current market price and sell stop orders are entered below the current market price. Although stop orders are frequently confused with limit orders they differ in a key aspect; when the market price reaches the level specified by a trader a market order is then automatically placed. As such, at times of high volatility they may be affected by slippage and poor fills in certain market conditions.

Yes, it is allowed.

A stop-loss order is an order placed to buy or sell an asset when it reaches a certain price. Stop-loss orders are designed to limit an Investor’s loss on a position in an asset.

Take profit is an order to close a previously opened position at a price more profitable for the client than the price at the time of placing the take profit. When the take profit level is reached, the order will be closed.

Trailing stop is a type of stop loss order. It is set at a percentage level either below the market price for LONG positions, or above the market price for SHORT positions. Kindly note that you need to leave certain distances from the current market price when you set up stop/limit orders.

The close-by is a function on the MT4/MT5 platforms that allows you to simultaneously close two opposite positions on the same financial instrument and save one spread. The buy order needs to close with a sell order, and the sell order needs to close with a buy order.

Multiple close by allows closing more than one opposite position at the same time. In case you have two opposite orders, you can use one of the orders to close the other one, and thus gain or lose the net difference.

Amount of Base Currency*Pips= Value in Quote Currency
Value of 1 pip in EUR/USD= 1 Lot (100 000 €)*0.0001= 10 USD
Value of 1 pip in USD/CHF= 1 Lot (100 000 $)*0.0001=10 CHF
Value of 1 pip in EUR/JPY=1 Lot (100 000 €)*0.01= 1000 JPY

• The profit calculation is as follows:
• (Close Price-Open Price)*Lots*Contract Size
• The lot size on every CFD differs.

You are free to hedge your positions on your trading account. Hedging takes place when you open a LONG and a SHORT position on the same instrument simultaneously. When you open a BUY and a SELL position on the same instrument and in the same lot size, the margin is 1 position.

However, when you open a BUY and a SELL position on a CFD of the same type and lot size, the margin is only needed once.

Leverage is the use of borrowed funds to increase one’s trading position beyond what would be available from their cash balance alone. Leverage however, can amplify both profits as well as losses.

Example:

Your account balance is 100 EUR.

The leverage of your account based on the instrument you wish to trade is 30:1.

For your trading capital this means 30 * 100 EUR = 3,000 EUR to trade (instead of 100 EUR).

Dynamic Leverage trading is a powerful tool. It can help investors to reduce their risk exposure as trading positions increase.

Errante HAS THE RIGHT to use a dynamic leverage model on both its MT4 and MT5 platforms which automatically adapts to the clients’ trading positions. As the volume per Instrument of a client increases the maximum leverage offered decreases accordingly. This is done to protect both the client and the Company from adverse market conditions.

This is done on an account level, hence if a client has positions open across multiple instruments, then leverage will be calculated in aggregate and NOT per symbol. For example, if a trader has 10 lots Buy on USDJPY and then starts trading EURUSD, his/her margin requirement for EURUSD will be affected by the existing USDJPY positions.

For more information and examples, click here:

• Sometimes, especially when important economic news are released, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.
• At ERRANTE, we are compliant with the best execution policy.

More information on the ERRANTE Execution Policy is available here:

Any trading account held with the Company in which you have not logged for a period greater than five (5) months, shall be considered by the Company as an Inactive /dormant Account.

Yes, in accordance with our T&Cs.

We will be sending both daily and monthly automated reports.

You may send an email to backoffice@errante.com and place your request.

It is not possible to change the base currency of an existing trading account. However, you can open an additional account in your client portal and choose the base currency of your preference. Please note that if your account has not been funded yet, you can change the base currency. For any assistance, contact our support team.

Please see Funding Methods Section.

As soon as you open a trading account, you can log in to your portal, select a payment method of your preference on the Deposit tab, and follow the instructions given.

You may deposit funds from any currency but will be converted in EURO and/or USD depending on your account.

In order to withdraw, please fill in a withdrawal request within the Client Portal. In order to protect all parties against fraud and minimise the possibility of money laundering and/or terrorist financing, ERRANTE will only process withdrawal/refunds back to the source of the original deposit according to the Withdrawal Priority Procedure below:

• Credit/debit card withdrawals: Regardless of the withdrawal amount request, first we will return to the credit/debit card up to the amount that was initially deposited. Any excess amount, which is a result of profits, will be withdrawn via bankwire or ewallets.
• E-wallet withdrawals: Once your withdrawal is processed (within the stated time frame) you should expect funds to be instantly credited to your e-wallet.
• Bank wire: Bank wire transfers are handled and credited to your account during business hours.
• Other Methods: A number of Alternative Payment methods (per country) are offered in the members’ area. Any Alternative payment method unable to be withdrawn/refunded will only be actioned back via wire transfer.

Yes you can, please note that your trading account must be verified first. This means that first you need to upload your documents in our Members Area: Proof of Identity (ID, passport, driving license) and Proof of Residency (utility bill, telephone/Internet/TV bill or bank statement), which include your address and your name and can’t be older than 6 months.

Once you receive confirmation from our Back Office Department that your account has been verified, you can request the funds withdrawal by logging in to your portal, selecting the Withdrawal tab and sending us a withdrawal request. It is only possible to send your withdrawal back to the original source of deposit. All withdrawals are processed by our Back Office within 24 hours on business days.

Yes you can, if at the moment of payment your free margin exceeds the amount specified in the withdrawal instruction, including all payment charges. Free margin is calculated as equity less necessary margin (required to maintain an open position). If you do not have enough free margin in your trading account, the system will not accept your request and you will need to lower the amount. Please note, that any credit bonus in your account is considered as part of your equity and will be deducted as the result of any withdrawal.

It depends on the country the money is sent to. Standard bank wire within the EU takes 3 working days. Bank wires to some countries may take up to 5 working days. For more information please see our Funding Methods Section.

The deposit processing time varies depending on the payment method used. Deposits via credit/debit cards, e-wallets, & local banks are instant. For bank wire transfers, please allow 2-4 business days for the funds to clear in our account. Please note that all withdrawals are processed Monday to Friday during working hours, and handled within 24 hours of placing the withdrawal request.

Yes there are. Please visit our Funding Methods section for applicable fees.

Transfers to third parties are not allowed.

As we are a regulated company, we do not accept deposits/withdrawals made by third parties. Your deposit can only be made from your own account, and the withdrawal must be returned  to the source where the deposit was made.

Yes, this is possible. You can request an internal transfer between two trading accounts, but only if both accounts are under the same registration. The request may be placed directly from the client portal and the transfer is instant.  In case all requirements are met, the transfer will be executed. For more details, please contact our Support Department at support@errante.com or Back Office Department at backoffice@errante.com.

Go to your Client Portal, click on ‘Funds’ and then select ‘Transfer Funds’.  You may then submit the amount of funds you would like to transfer from one account to another. Please allow some time for our Back Office to process.

You may send an email to our Back Office Department at backoffice@errante.com.

While all features and functions of a real account are also available for a demo account, you should keep in mind that simulation cannot replicate real trading market conditions. Demo accounts are a valuable trading tool to help beginners learn how to trade.

You may do so from your personal portal or through the MT4/MT5 platform  A daily and a monthly trading report is sent in your registered email also.

Yes, you can. Our trading platform supports the use of EAs.

Feel free to contact your Personal Account Manager via live chat, email, or phone to schedule a presentation for the MT4 or MT5 platform.

Every buy order is opened at ASK price and closed on BID price, and every sell order is opened on BID price and closed at ASK price.

On the MT4 & MT5 platforms, you can trade all instruments available at ERRANTE including CFDs on Stocks, Indices, Forex, Metals, and Energies Commodities. For more information please visit the Markets section on our website.

You may go to your profile/trader’s menu and select Downloads.

Fill in our Online Form  with your contact details and some basic information requested and one of our representatives will contact you to discuss this further.

Our company’s head office is at Office 15(B), 3rd Floor, Vairam Building, Providence, Mahe, Seychelles.

Our Registered Address is at Room 12, Kingsgate House, Victoria, Mahe, Seychelles.