Errante vs CMC Markets - 2024 Comparison | FxScouts
EditorEditor: Chris CammackUpdated: November 15, 2023

Last Updated On November 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Risk Statement
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
1110.503.87/ 5 63.15% of retail CFD accounts lose moneyGBP 50CySEC Regulated BrokersThe Seychelles Financial Services AuthorityECN/STPCommodities, Energies, Stock CFDs, Forex, Indices, Metals5014
  • Well regulated
  • Low minimum deposit
  • Innovative trading tools
  • Excellent education
  • Limited educational material
  • Limited platform choice
Read Review 111104/ 5 111003/ 5 11110.54.5/ 5 11110.54.5/ 5 1110.503.5/ 5 111104/ 5 111104/ 5 63.15%30:11.50 pips Premium, Standard, Tailor Made, VIP MT4, MT5advcash, Bank Transfer, Bitcoin, CashU, Mastercard, Neteller, Skrill, SticPay, VisaFees Included in Spread
11110.54.53/ 5 76% of retail CFD accounts lose moneyGBP 5ASIC Regulated BrokersFCA Regulated Forex BrokersMonetary Authority of SingaporeFinancial Markets Authority of New ZealandBundesanstalt für FinanzdienstleistungsaufsichtMarket MakerCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices35012
  • Offers a selection of over 12
  • 000 trading instruments
  • Features competitive spreads from 0.7 pips on major pairs on its commission-free accounts
  • No minimum deposit requirement
  • Supports MT4 and the proprietary Next Generation platform which delivers a superior mobile trading experience
  • Regulation by leading authorities such as ASIC
  • FCA
  • FMA
  • and BaFin
  • Commission-based accounts are subject to high fees potentially affecting profitability
  • The absence of live chat support may hinder prompt assistance
  • Some withdrawal methods have fees adding to the total trading costs
Read Review 111115/ 5 111115/ 5 11110.54.5/ 5 111104/ 5 111115/ 5 11110.54.5/ 5 111003/ 5 76%30:10.70 pips CFD Account, FX Active MT4, CMCmarketsBank Transfer, Maestro, Mastercard, Paypal, POLi, Visa0.005%

How do CMC Markets and Errante stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

CMC Markets

Errante

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare CMC Markets and Errante, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does CMC Markets or Errante have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that CMC Markets holds three Tier 1 and two Tier 2 licences, and Errante holds one Tier 1 and no Tier 2 licences.

 

Is CMC Markets financially regulated?

Yes CMC Markets was founded in 1989 and is regulated by ASIC, BaFin, FCA, FMA and MAS.

 

Is Errante financially regulated?

Yes Errante was founded in 2019 and is regulated by CySEC and FSA-Seychelles.

 

Based on these findings, CMC Markets earned a higher trust rating than Errante.

Does CMC Markets or Errante have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that CMC Markets has overall lower trading costs than Errante. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Errante
111003/ 5
USD, EUR
1.50 pips
USD 15
1.50 pips
1.60 pips
1.50 pips
USD 0
CMC Markets
111115/ 5
AUD, USD
0.70 pips
USD 7
0.70 pips
0.90 pips
0.70 pips
USD 0

 

Does CMC Markets or Errante offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, CMC Markets offers support for MT4 and CMCmarkets and Errante offers support for MT4 and MT5. 

Do the brokers offer copy trading?

In this case both CMC Markets and Errante offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Errante
11110.54.5/ 5
CMC Markets
11110.54.5/ 5
CMCmarkets

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that CMC Markets offers a greater range and depth of instruments to trade than Errante. CMC Markets offers 350 Forex pairs to trade and Errante offers 50 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Errante offers 14 cryptocurrencies while CMC Markets offers 12 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Errante.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither CMC Markets nor Errante charges a withdrawal fee. Overall, Errante has better deposit and withdrawal processes than CMC Markets. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

CMC Markets has better educational support than Errante. Both CMC Markets and Errante offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Errante
CMC Markets

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that CMC Markets offers better research analysis than Errante and that both CMC Markets and Errante offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Errante
CMC Markets

 

Our overall Verdict on CMC Markets

Founded in 1989, CMC Markets is a well-known Forex and CFD broker with a high trust rating and a strong presence in the UK. It has local FCA regulation and local customer support and offers spread betting accounts. 

CMC Markets offers two live accounts with no minimum deposit requirements - a low-cost commission-free account with spreads starting at 0.7 pips on the EUR/USD, and a commission-based account with spreads of 0.1 pip and commissions of 0.005% (which amounts to 50 USD per lot traded), which is extremely high.

Trading is offered on both MT4 and its powerful, innovative proprietary platform that features numerous technical and fundamental analysis tools.  CMC Markets also offers excellent education and market analysis materials to get new traders started, and although customer service is offered 24/5, it does not provide a live chat feature, which is a serious oversight by this broker.

Our overall Verdict on Errante

A regulated broker with no dealing-desk intervention, Errante caters to traders who prefer flexible trading conditions on the MT4 and MT5 platforms.  However, traders should be aware that neither the minimum nor average spreads are published on its website.

Errante offers trading on multiple assets, including cryptocurrencies, share CFDs, commodities, metals, indices, and over 50 Forex pairs, an average selection compared to other brokers.  Support is offered for both the MT4 and MT5 platforms in addition to a copy trading platform, but Errante offers virtually no trading tools.

With four live accounts, the entry-level account offers comparatively poor trading conditions, with a minimum deposit of 50 USD, and EUR/USD spreads of 1.50 pips.  Trading costs improve on the VIP and Tailor-made accounts, but this is in exchange for much higher minimum deposits.  The Tailor-made account is a customisable account, where traders receive personalised service can negotiate their trading conditions, making it a good option for professional traders.  

One drawback is the lack of educational and market analysis materials available at Errante, forcing traders to self-educate elsewhere.

Which broker has the highest overall rating?

CMC Markets has an overall rating of 4.53 and Errante has an overall rating of 3.87. For more detail please read our reviews of CMC Markets and Errante.

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