EXANTE is a global investment company that offers clients over 600,000 financial instruments in over 50 markets and exchanges. The brokerage firm is registered and licensed in all regions it operates in, such as the CySEC in Cyprus, the MFSA in Malta, the SFC in Hong Kong, and the FCA in the UK. As EXANTE operates in the EU, it is also subjected to MiFID II regulations, which aim to regulate financial services within the EU.
Below, we examine EXANTE’s account types on offer. This review will provide information on opening a trading account with EXANTE. It will go through some features of these accounts, and the required documentation. Make sure to read on to learn more.
Trading accounts and requirements
EXANTE offers two types of live trading accounts – the individual and corporate accounts. EXANTE also offers a demo trading account to clients. For those who are uninitiated, below are the account requirements. Note that the information is accurate at the time of publishing. For the complete requirements, please make sure to visit the broker’s official website.
Traders can open an individual multi-currency account with a minimum deposit of 10,000 EUR/GBP. In order to verify their identity, traders must also provide proof of identity (such as a valid passport, residence card, or driver’s license), as well as proof of residence (a utility bill, bank, or PSP account statement, or correspondence from a central or local governmentauthority or agency will also be required).
Those who wish to open a corporate multi-currency account must follow a process with more documentation. To open a corporate account, traders must have a minimum deposit of 50,000 EUR/GBP. Proof of registration can come in the form of a certificate of incorporation or registration of the company. An extract from a local official registrar can also be considered.
Additionally, corporate entities must also include incorporation documents such as memorandum and articles of association, partnership agreements, by-laws, and/or statutes. There must also be a registered office proof in the form of a recent (within six months) certificate of incumbency, good standing certificate, or extract from the official registrar.
Furthermore, traders who are looking to open a corporate account must provide active status proof of the corporation at which they work. This can be in the form of a recent (within six months) certificate of incumbency, a good standing certificate, or an extract from the official registrar.
These are only a few of the documents required. For more information on other papers to provide, such as the corporation’s local Tax Identification Number (TIN) and shareholder documentation, please visit EXANTE’s official website.
EXANTE also provides a demo account to traders for free. This is great for those who wish to spend time paper trading. Traders tend to receive simulated funds (virtual money) of 1,000,000 EUR to test out trading strategies and try out how the platform interface works. This amount of virtual money can be adjusted by contacting support. As a risk-free account, demo traders can neither profit nor incur any losses.
Who can open an account?
EXANTE is a global broker, but there are still select account opening parameters. Right now, the investment company works with clients all over the world except those from the USA (both citizens and residents), Japan, Iran, the Democratic People’s Republic of Korea (DPRK), Belarus, and the Russian Federation.
There are also clients that come from countries that require Enhanced Due Diligence such as Afghanistan, Bosnia and Herzegovina, Ethiopia, Iraq, Lao PDR, Syria, Uganda, Vanuatu, and Yemen. EXANTE updates the list frequently, so the information provided in this review is accurate at the time of writing.
Trading on behalf of someone else
EXANTE provides professional services to its clients, and this includes the opportunity for authorised and unauthorised traders to execute trades on behalf of their clients.
Authorised traders include licensed asset management firms that are regulated in their country of operation. These traders have the ability to manage an unlimited number of accounts. Unauthorised traders include individuals and unlicensed asset managers – these may be professionals or experienced traders, but they do not hold a licensein asset management. These traders can manage up to 10 accounts.
With such a diverse client base, EXANTE is a broker that has responded to the various trading needs of its account holders. An example is that enables EXANTE users to open joint accounts if necessary.
Traders can open one account to oversee multiple individual ones. All account openings must go through identity verification, and they must also be compliant with local regulations. All parties involved in the joint account must also sign an agreement. This is a great option for users to manage funds on behalf of others, and a maximum of 4 individual clients can participate in a single joint account.
EXANTE clients can access global markets and trade various assets with a single multi-currency account. Whether they want to open an individual or corporate account, they must abide by a strict identity verification process to ensure protection. There is also a demo account for those looking to practice and hone their trading skills and strategies. These are all solid features and make EXANTE a broker worthy of consideration.