EXANTE, a global broker licensed by the Hong Kong, Cyprus, Malta, and UK authorities, offers a trading platform particularly popular among seasoned investors. The robust functionality, such as support for algorithmic trading, low latency, and a rich choice of trading instruments, are often mentioned in the reviews from EXANTE users as the broker’s advantages for experienced investors.
As a beginning trader, you may be looking for a particularly user-friendly platform, while complex trading capabilities may not be crucial for you at the start of your trading journey. However, sticking to the same broker from the very beginning may be easier for you. Is EXANTE a viable choice in such a scenario? Read this article to find out.
Extensive Assortment of Trading Instruments
While it may appear that a wide choice of financial products is essential only for advanced traders, it is also important for beginners. Even though trading certain products may be easier for novices than trading others, exposure to different markets and instruments is necessary for educational purposes, mainly because it provides opportunities for understanding the way different products operate and how they can be interconnected.
Furthermore, an extensive instrument selection is also crucial for portfolio diversification and effective risk management.
As mentioned above, the wide choice of trading products is one of EXANTE’s strengths. The broker’s customers can choose from over a million currencies, futures, stocks, ETFs, funds, bonds, options, and metals. Meanwhile, the list of available markets includes North America, Africa, Europe, Asia, and the Pacific region. All the markets, including New York’s NASDAQ and NYSE AMEX, Portugal’s EURONEXT, South Africa’s JSE, Japan’s TOCOM, and Australia’s ASX, can be accessed from a single multi-currency account.
Demonstrative Account
EXANTE does indeed provide its experienced customers with robust trading opportunities. However, beginning traders do not have to feel overwhelmed as they can leverage a free demonstrative mode.
This mode shares the majority of functionality with the live EXANTE platform, although it may have somewhat limited access to markets and at least a 30-minute delay in price updates. At the same time, it supplies users with virtual currency that is offered completely free of charge. To get one million virtual euros, you do not even have to deposit any money.
You have complete freedom to check the platform’s functionality while using your free funds. These free funds can be a great kickstart for hands-on learning in a risk-free environment. With it, you can practice trade management, understand how to place orders, apply trading, and risk strategies, and get an understanding of market dynamics.
Note that EXANTE will not require you to go through an extensive registration process. Setting up a live account always mandates identity verification, which involves sharing documents with your broker. In the case of the demonstrative account, you only need an email address and a password, and you can start trading immediately.
Competitive Pricing
One of the obstacles individuals willing to try trading face is the cost of using a broker’s services. This can sometimes be quite high for beginners who are still not confident about an effective strategy that can help them generate profit.
EXANTE has made it easier for novices to start trading. First of all, EXANTE has completely removed the account management fee and does not charge users for making deposits on the platform.
Moreover, as a newbie, you may need time to establish a trading routine, and it may happen that you fail to do so regularly. As a rule, brokers have a special inactivity charge applied to such traders. Although EXANTE is no exception, it has made the inactivity policy particularly favorable for new traders.
Thus, it considers a customer inactive only when they meet several requirements at the same time. These include:
- Having a balance below EUR 5,000;
- Having no active orders and open positions;
- Not engaging into trading within the past 3 months.
EXANTE will only charge an inactivity fee of 50 EUR or GBP per month if you meet all of these conditions. In this case, the fee will be charged after 90 days since your last transaction. This charge is applied to users, not their subaccounts.
Meanwhile, EXANTE offers competitive withdrawal fees of only 30 EUR or GBP or 0.9% of the withdrawn amount, whichever is higher.
Bottom Line
EXANTE is a powerful trading platform that can meet the requirements of the most advanced traders. However, this does not mean this platform is not suitable for beginners.
While the rich functionality may appear overwhelming, you can take your time practicing with the help of a free demonstrative account, which can be easily set up without the need for identity verification. At the same time, the extensive product offer and the platform’s trading capabilities are useful for traders and investors too, as regardless of the level of experience, portfolio diversification is crucial for everyone.
