Is Errante a STP or ECN broker?

By Rely Mulenda, from South Africa, April 4, 2022 at 12:15 PM

Is Errante a STP or ECN broker?

Answer: Hi Rely Mulenda,

Errante broker is ECN/STP broker, regulated by CySEC. Being regulated by CySEC is definitely a plus to broker’s reputation, however, traders always need to look deeper. CySEC regulation means that European traders are allowed to trade under this regulation. What about all the rest? A lot of the brokers offer their offshore entities for the traders outside the EU. It means that if you are a trader from South Africa, you most probably will be onboarded under the one of the offshore jurisdictions. in case with Errante, it is also regulated by the Seychelles Financial Services Authority (FSA).

We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

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