Exante is a global investment company that offers over 600,000 financial instruments on over 50 markets and exchanges for trading. Founded by Alexey Kirienko, Anatoly Knyazev, and Gatis Eglitis, this broker was registered in Malta and Cyprus, has locations all over the world today, and is compliant with local regulations. It is licensed by the FCA in the UK, the CySEC in Cyprus, MFSA in Malta and the SFC in Hong Kong. As it operates in the European Union, it also follows the MiFID-II financial regulatory framework for companies that offer services within the EU.
Below, we examine Exante’s account types on offer. This review will provide a guide on the kinds of information you will need to provide to the broker to open an account that allows you to trade live. We will also go through some of the features of these accounts, including the efficiency of the account closure process. If you are considering opening a trading account with Exante, read on to make an informed decision.
Main account types and requirements
Exante offers two types of live trading accounts (individual and corporate) and one type of demo trading account. For the uninitiated, below are the account requirements. Note that this information is accurate at the time of publishing. For the complete requirements, please visit the broker’s website.
Traders can open an individual multi-currency account with a minimum deposit of 10,000 EUR/GBP. To verify their identity, they can provide proof of identity in the form of a valid passport, residence card, driving license, or any other national or government-issued identity card. A proof of residence in the form of a recent (within six months) utility bill, bank or PSP account statement, or correspondence from a central or local government authority or agency will also be required.
Those who wish to open a corporate multi-currency account must follow a process with more documentation. Corporate accounts 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 is also accepted.
On top of that, corporate entities must have incorporation documents such as memorandum and articles of association, partnership agreements, by-laws, and/or statutes. There must also be registered office proof in the form of a recent (within six months) certificate of registered office, good standing, or an extract from a local official registrar.
Additionally, those who wish 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, good standing certificate, or extract from the official registrar.
These are only some of the documents required. For more information on other information to provide, such as the corporation’s local Tax Identification Number (TIN) and shareholder documentation, please visit Exante’s website.
Exante also provides a demo account for traders who wish to spend time paper trading. Registration is free of charge, and traders receive simulated funds (virtual money) of 1,000,000 EUR to test out strategies and try out trading in different markets. This amount of virtual money can be adjusted via contacting support. As a risk-free account, demo traders can neither profit nor incur losses.
Features and functions of the account types
Live accounts that trade on the Exante platform receive 100% real-time market data, while demo account market data is delayed by at least 30 minutes. For traders who want to open separate private and corporate accounts with Exante, it is entirely possible – which comes as great news to those who want to trade both personally and professionally.
Live accounts can gain access to the entire product range offered by Exante, which includes over 600,000 financial instruments covering Forex, Bonds, Stocks, Options, Futures, ETFs, and Metals.
Who can open an account with Exante?
Exante is a global broker, but there are select account opening parameters. Currently, the investment company works with clients all over the world except those from the USA (citizens and residents), Japan, Iran, the Democratic People’s Republic of Korea (DPRK), Belarus, and the Russian Federation.
There is also a requirement of Enhanced Due Diligence for clients from the following countries: Afghanistan, Bosnia and Herzegovina, Ethiopia, Iraq, Lao PDR, Syria, Uganda, Vanuatu, and Yemen. Exante updates the list frequently; the information provided in this review is accurate at the time of writing.
Trading on behalf of someone else
Exante provides professional services for their 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, regulated in their country of operation. These traders can 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 license in asset management. These traders can manage up to 10 accounts.
Other account types: joint account
With a diverse client base, Exante is a broker that has responded to the different trading needs of their account holders. One of such is the ability for Exante traders to open joint accounts.
Traders can open one account to oversee multiple individual ones. All account openings must have gone through identity verification, and they must 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.
The account closing process
Many reviews fail to acknowledge the account closing process when evaluating a broker. However, if you are an investor who has been participating in the financial markets for a long time, you will understand the importance of being able to withdraw your funds and close your account easily should you want to.
Exante offers a straightforward account closing process, with a detailed overview illustrated in its support centre. Live accounts can easily be closed by traders by closing all positions at once, converting any currencies available in their account, and then submitting a withdrawal request for remaining funds. The process is smooth and understandable, and traders can easily contact their account manager or the support team to request an account closure anytime.
Can I transfer my trades to an account with another broker?
Yes. Traders with Exante can transfer open positions into an open account with another institution – a feature that is seldom offered by other brokers. In our opinion, this not only makes Exante a great broker in terms of providing a good trading experience, but also in terms of allowing their clients the freedom and transparency to choose what to do with their investments.
Exante clients can access global markets and trade over 600,000 financial products with one single multi-currency account on any device. Whether traders want to open an individual or corporate account, they must abide by a strict identity verification process to ensure the protection of their funds and to increase the quality of their trading experience. For those who prefer to trade on demo, they can do so by simply registering with the broker. Joint accounts are also available between a maximum of 4 individual clients. Finally, Exante has a straightforward account closure process with a strong client support team. This is a solid feature, and it is certainly one we can expect from a professional broker that puts transparency at its forefront.