Exante is a leading investment firm that specialises in offering services to professionals in the finance sector. This includes retail traders and investors, brokers, asset managers, banks, and other financial institutions. Established in 2011, the investment firm has over 10 years of experience and was founded by Anatoly Knyazev Exante, Alexey Kirienko, and Gatis Eglitis. Currently, the company provides a few different account types for users. These are the demo account, individual account, and corporate account. In this review, we take a look at the features in a demo account, and what makes them different to the other two live accounts.
Table of Contents
Features Of A Demo Account
When a trader first registers with Exante, they automatically receive access to a demo account. The demo account offers traders a virtual 1,000,000 EUR to use so they can practice their trading skills and strategies in an entirely risk-free environment. It also gives users the chance to get used to Exante’s trading platform, interface, and features. As such, they will be better prepared on using the platform when live trading, where there are financial risks involved.
The demo account also allows traders to access the same kind of financial instruments and markets that is offered to a live account. This includes over 600,000 instruments in over 50 markets worldwide. Financial instruments include stocks, exchange-traded funds (ETFs), bonds, funds, precious metals, and currencies. There are even instruments for derivative traders such as futures and options.
If traders are worried about running out of virtual funds, there is no need to panic. You can simply visit the Settings page in the Client’s Area to create a new sub-account with default settings. This means all your trading history is reset, meaning you can gain back the virtual funds you have previously used to paper trade.
Differences Between Exante’s Live And Demo Account
While for the most part, the interface between a live account and a demo account is incredibly similar, there are still a few essential differences. After all, this is because their purposes are fundamentally different from each other. The main purpose of a live account is to facilitate real-time trading, whereas a demo account only allows for paper trading, meaning the environment is entirely simulated. As everything is simulated, execution speeds will also vary at times. Below, we have listed a few key differences in how Exante’s live and demo accounts differ, which traders should keep in mind.
Documents Required
To open a demo account, no documents are required. This is because when a user registers with Exante, they automatically open a demo account. The only thing a user needs to do is to sign up and set a password. However, to open a live account, the documents required will depend on the account type being opened. For an individual account, the documents required include proof of identity and proof of residence. For a corporate account, the documents needed include proof of registration, incorporation documents, registered office, proof of active status, and more. Additionally, the Onboarding department may request additional documents if needed.
Market Data
Although the interface between a live account and a demo account is nearly identical, one big difference is that a demo account is delayed by at least 30 minutes. This is because it is a simulated environment, unlike a live account. In a live account, traders can receive real-time market data instead, so they can keep up with the markets. This means traders can potentially make better data-driven decisions when trading.
Minimal Account Funding
The minimal account funding is also different when it comes to these two different account types. For a demo account, there is zero funding required, as you can only paper trade with it. Instead, Exante’s demo account offers a virtual 1,000,000 EUR that traders can use to practice their trading skills and strategies with. Additionally, the amount of the web currency can be adjusted by contacting Exante’s customer support.
On the other hand, a live account is different. The minimal account funding will depend on the account type a trader has opened. For an individual trading account, it requires a deposit of 10,000 EUR/GBP. For a corporate account, it requires a deposit of 50,000 EUR/GBP instead. While this may seem like a lot, Exante does not have any fixed minimum or maximum transfer limit, meaning the deposit can be transferred bit by bit. That said, traders will only receive access to live trading once they have reached the minimum deposit requirement.
Monetary Profit And Loss
This is one of the biggest differences between a live and a demo account. As stated, a demo account only allows for paper trading, meaning it is entirely risk-free, so a user can trade to their heart’s content. However, that also means traders cannot potentially profit from their trades. That is not so for a live account. As its name suggests, a live account allows traders to potentially profit from any trades made, but conversely, any potential losses are also borne entirely by the trader themselves.
