Errante is a forex and CFD brand. Clients in the European Economic Area deal with Notely Trading Ltd, a Cyprus investment firm licensed by CySEC since 2020, and international clients deal with Errante Securities (Seychelles) Limited, licensed by the Seychelles FSA as a securities dealer.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | 383/20 | Notely Trading Limited | Authorised Checked 7 Oct 2026 | Register entry for Notely Trading Limited (opens in a new tab) 1 |
| Financial Services Authority Seychelles (FSA) | SD038 | Errante Securities (Seychelles) Limited | Authorised Checked 7 Oct 2026 | Register entry for Errante Securities (Seychelles) Limited (opens in a new tab) 2 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
Errante’s two companies are on their regulators’ registers: Notely Trading Ltd is a CySEC-licensed Cyprus investment firm permitted to deal on its own account, and Errante Securities (Seychelles) Limited is listed by the Seychelles FSA as a securities dealer. Both companies’ terms keep client money in segregated accounts and give negative balance protection. EU clients also have the Investor Compensation Fund and the Cyprus ombudsman, while international clients have no compensation scheme and can only complain to the regulator. The Cyprus company publishes Pillar III disclosures naming its directors, but Errante does not say who owns the group or name the banks that hold client money. Japan’s FSA warned the Seychelles company in August 2025 for soliciting Japanese residents without registration. The EU account page shows a 20% stop-out level for every account, while the EU terms set 50% for retail clients.
Both client-facing companies are on their regulators’ registers: Notely Trading Ltd on CySEC’s register under licence 383/20, with the approved domain www.errante.eu, and Errante Securities (Seychelles) Limited on the Seychelles FSA’s list of securities dealers, with the trade name Errante and the website www.errante.com. The FSA list does not show licence numbers.
The CySEC and FSA licences Errante states match the registers; the FSA does not display licence numbers, so SD038 is the number Errante gives.
Each site’s footer names the company that runs it, with its regulator, licence and registration number, and the brand’s other company, and each set of terms names the contracting company. The international footer says Notely Trading Ltd may handle certain payments for the Seychelles company.
Both sets of terms say client money is held in segregated client accounts, possibly pooled in omnibus accounts, separate from the company’s own funds; the Seychelles terms add that funds may be held with banks, payment providers or third parties abroad, including to meet margin.
CySEC authorises Notely Trading Ltd to deal on own account and execute orders in financial instruments 1 to 10, which include CFDs, matching its execution policy, under which it acts as principal; the FSA lists the Seychelles company as a securities dealer.
Reduced the enforcement dimension by 2 points (low severity, 1.1 years before the review).
Not met We found no complaint statistics published by Errante, or by a regulator or ombudsman for its companies.
Not met Errante says client money is held at top-tier, well capitalised banks and financial institutions, and the Seychelles terms refer to various banks, credit institutions and payment providers, but neither names them.
Partly met EU clients are covered by the Investor Compensation Fund, of which Notely Trading Ltd says it is a member, up to the lower of 90% of covered claims and EUR 20,000. No scheme covers clients of the Seychelles company; the civil liability insurance Errante describes covers claims against the company, not client deposits.
Partly met EU clients can refer complaints to the Financial Ombudsman of the Republic of Cyprus. Clients of the Seychelles company are pointed only to the FSA’s complaint form; the FSA is the regulator, not an independent dispute body.
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 12
Both client-facing companies are on their regulators’ registers: Notely Trading Ltd on CySEC’s register under licence 383/20, with the approved domain www.errante.eu, and Errante Securities (Seychelles) Limited on the Seychelles FSA’s list of securities dealers, with the trade name Errante and the website www.errante.com. The FSA list does not show licence numbers.
Permissions cover the services offered 124
CySEC authorises Notely Trading Ltd to deal on own account and execute orders in financial instruments 1 to 10, which include CFDs, matching its execution policy, under which it acts as principal; the FSA lists the Seychelles company as a securities dealer.
Clients can tell which regulated entity serves them 5689
Each site’s footer names the company that runs it, with its regulator, licence and registration number, and the brand’s other company, and each set of terms names the contracting company. The international footer says Notely Trading Ltd may handle certain payments for the Seychelles company.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 5111213
Errante says its trademark belongs to an entity of the Errante Group without naming it, the Cyprus company’s Pillar III disclosures do not name its shareholders, and GLEIF reports that the parents of both companies have no LEI. We found no official record that names who owns Errante.
Group structure is explained 45614
Errante names its two companies and the clients each serves, says the trademark belongs to an entity of the Errante Group, and its execution policies say trades may be covered by related entities with the same or similar shareholders, but it does not explain how the companies are owned or related.
Directors or senior managers are identified 13
The Cyprus company’s 2025 Pillar III disclosures name its seven directors, including executive directors Lenas Thoma and Christos Zacharia. We found no managers named for the Seychelles company.
Financial statements are available 1315
Notely Trading Ltd publishes Pillar III disclosures for 2021 to 2025; those for 2025 carry a Deloitte limited assurance report and show own funds of EUR 1.35 million and a capital ratio of 180.26%, based on unaudited accounts. We found no financial statements for the Seychelles company.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Client money segregation is disclosed 891617
Both sets of terms say client money is held in segregated client accounts, possibly pooled in omnibus accounts, separate from the company’s own funds; the Seychelles terms add that funds may be held with banks, payment providers or third parties abroad, including to meet margin.
An investor compensation scheme applies 89192021
EU clients are covered by the Investor Compensation Fund, of which Notely Trading Ltd says it is a member, up to the lower of 90% of covered claims and EUR 20,000. No scheme covers clients of the Seychelles company; the civil liability insurance Errante describes covers claims against the company, not client deposits.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 2 points.
Warning lists and enforcement records have been searched 326
We searched CySEC’s board decisions, the FCA’s list, the CVM’s declaratory acts, the Indian and Malaysian alert lists and Japan’s FSA list, and ran web searches for other regulators’ actions. The only entry we found is the Japan FSA’s 2025 warning about the Seychelles company.
Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 26
28 Aug 2025. Reduced the enforcement dimension by 2 points (low severity, 1.1 years before the review).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
A complaints procedure is published 2728
The EU policy acknowledges complaints by email within two business days and resolves them within two months, or three at most; the Seychelles procedure acknowledges within two business days and aims to give an outcome within 21 business days, extendable to 90 for complicated complaints.
Independent complaint outcomes show no adverse pattern
We found no published ombudsman or dispute-body decisions about Errante’s companies.
Complaint data is disclosed 15
We found no complaint statistics published by Errante, or by a regulator or ombudsman for its companies.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
Costs are disclosed before account opening 892224293031
Errante publishes minimum spreads by account, withdrawal fees, inactivity fees (EUR or USD 5 a month after 12 months without a login in the EU; USD 15 and then USD 5 a month after 150 days internationally) and examples of swap charges. It does not state the commission on its Tailor Made account, publish a table of swap rates or state the cost of converting funds received in another currency.
An order execution policy is published 4143233
Both execution policies say the company is the principal and sole execution venue and set out the execution factors. The EU 2024 execution report names its liquidity providers, Broctagon Prime, Finalto Financial Services and MTG Liquidity, and both policies disclose that trades may be covered by related entities with the same or similar shareholders, some of them market makers; a conflicts of interest policy is published.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 25172035
Errante’s awards page lists titles such as Best ECN and Most Transparent Broker mostly without saying who gave them, the sites claim more than one million traders without a source, and the international safety page says Errante is regulated by multiple regulatory bodies although its Seychelles company is regulated only by the FSA. The insurance page describes its liability cover accurately.
An address and working contact channels are published 1211123637
Addresses, phone numbers and emails are published, and the Cyprus addresses match CySEC’s register and GLEIF. The Seychelles company gives its registered office as Suite 18, Third Floor, Vairam Building, while the FSA lists Office 15 (b) in the same building and GLEIF Room 12, Kingsgate House, Victoria.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Cyprus Securities and Exchange Commission (CySEC) · Reference 383/20 1
Reception and transmission of orders, execution of orders on behalf of clients, dealing on own account and portfolio management in financial instruments 1 to 10; ancillary services including safekeeping, granting credit for transactions and foreign exchange connected to investment services.
Licence granted 3 February 2020. Approved domain www.errante.eu.
Financial Services Authority Seychelles (FSA) · Reference SD038 2
Securities dealer
Listed by the FSA as a securities dealer with the trade name Errante; the licence number is Errante’s own (the register shows none).
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
On 28 August 2025 Japan’s Financial Services Agency warned Errante Securities (Seychelles) Ltd, of Suite 18, Third Floor, Vairam Building, Providence, Mahe, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “Errante” (エランテ). The entry itself gives the month only; the date of 28 August 2025 comes from another entry on the list that refers to this warning.
Firms can respond to their profile and to any finding. No response has been published for Errante. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 7 Oct 2026 | Trust score 85 out of 100 Strong | 1.2 | Current |
No corrections have been made to this profile.
Lists licence 383/20 granted on 3 February 2020, company registration 394425, the address 67 Spyrou Kyprianou, 1st Floor, Office 101, 4042 Limassol, the email info@errante.eu and the approved domain www.errante.eu. Authorises reception and transmission of orders, execution of orders on behalf of clients, dealing on own account and portfolio management in financial instruments 1 to 10, with ancillary services including safekeeping, granting credit for transactions and foreign exchange connected to investment services. No suspension or restriction is shown.
The FSA’s register of capital markets licensees lists Errante Securities (Seychelles) Limited among securities dealers, with the trade name Errante, the address Office 15 (b), Third Floor, Vairam Building, Providence, Mahé, the email info@errante.com and the websites www.errante.com, www.errante-global.com, www.errante.co and www.errante.io. The register does not show licence numbers.
On 7 October 2026 we searched CySEC’s board decisions (all 1,173 to 2 October 2026 and the latest page), the FCA’s list of investment firms, the CVM’s declaratory acts dataset, the Reserve Bank of India’s alert list (19 November 2025), Bank Negara Malaysia’s Financial Consumer Alert List, the Securities Commission Malaysia’s Investor Alert List and Japan’s FSA list of warned unregistered firms (25 September 2026) for Errante, Notely Trading and Errante Securities, and ran web searches for actions by the FCA, Consob, the CNMV, the FSMA, the FSA Seychelles and others. The only entry we found is the Japan FSA’s warning about the Seychelles company.
Says the company is always the counterparty (principal) to every trade, prices CFDs from providers with a mark-up and sets out the execution factors. Part or all of the trades are covered within the company or related entities having the same or similar shareholders, some of which may act as market makers, which it describes as an additional conflict of interest risk.
The footer says Notely Trading Limited is an investment firm regulated by CySEC under licence 383/20, registration number HE394425, with its registered office at 30 Karpenisiou, 1077 Nicosia, that it operates www.errante.eu and serves EEA states cross-border, and that Errante Securities (Seychelles) Ltd (errante.com) is regulated by the Seychelles FSA under licence SD038. It says the Errante trademark is owned by an entity of the Errante Group and warns that 49.38% of retail investor accounts lose money when trading CFDs with this provider. The page claims more than one million Errante traders and more than ten forex awards.
An Internet Archive copy of errante.com taken on 30 September 2026, read because the live site sends visitors from Cyprus to errante.eu. The footer says Errante Securities (Seychelles) Ltd is regulated by the Seychelles FSA under licence SD038 and incorporated in Seychelles under company number 8425493-1, with its registered office at Suite 18, Third Floor, Vairam Building, Providence, Mahe; names Notely Trading Limited as the brand’s CySEC-licensed company; and says certain payment services may be facilitated by Notely Trading Ltd acting on behalf of the Seychelles company. It carries a general risk warning without a loss percentage.
An Internet Archive copy taken on 30 September 2026. Says Errante is authorised and regulated by the Seychelles Financial Services Authority (SD038) and links to its Seychelles certificate. A banner advertises a 30% deposit bonus of up to USD 2,000.
Agreement with Notely Trading Limited (HE394425, CySEC 383/20), registered office 30 Karpenisiou Street, Nicosia, head office 67 Spyrou Kyprianou, Office 101, Limassol, trading as Errante. Client funds are held in segregated client accounts, possibly pooled in omnibus accounts, separate from the company’s funds. Retail clients have negative balance protection, a 50% margin close-out and leverage limits of 30:1 to 2:1, and are covered by the Investor Compensation Fund. Accounts without a login for 12 months may pay an inactivity fee of EUR or USD 5 a month. Complaints go to the compliance department, and the acknowledgement explains referral to the Financial Ombudsman of the Republic of Cyprus or CySEC. Changes take effect five calendar days after posting, and clients are expected to check the website for them.
An Internet Archive copy taken on 3 April 2026. Agreement with Errante Securities (Seychelles) Limited (8425493-1, FSA SD038, Suite 18, 3rd Floor, Vairam Building, Providence), which acts as principal. Client funds are held in segregated accounts, possibly pooled, separate from the company’s funds, with banks, credit institutions or payment providers it does not name, and may be held by third parties to meet margin (20.1). Negative balance protection applies per account but may be withheld where the company suspects abuse (6.2, 6.3), and positions are closed at a 20% margin level. Accounts inactive for 150 days may be charged a one-off USD 15 fee and then USD 5 a month (27). Notely Trading Ltd may facilitate certain payment services. Complaints go to the compliance department under the complaints policy. Changes take effect five calendar days after posting, and clients are expected to check the website for them.
The Cyprus companies registry lists Notely Trading Limited under number HE 394425 as a registered company. The free search does not show directors, shareholders or filed accounts.
Notely Trading Limited (HE 394425, LEI 254900LUQIEZYT2PKS04, created 13 February 2019) has its legal address at 30 Karpenisiou, Nicosia and its head office at 67 Spyrou Kyprianou, Limassol. The record reports that its direct and ultimate parents have no LEI, without naming them.
Errante Securities (Seychelles) Limited (8425493-1, LEI 2549005RVJ9B4VRLTA06, created 16 April 2019) gives its legal and head office address as Room 12, 1st Floor, Kingsgate House, Independence Avenue, Victoria, Mahe. The record reports that its direct and ultimate parents have no LEI, without naming them.
Prudential disclosures with a Deloitte Limited limited assurance report to CySEC dated 29 May 2026, prepared from unaudited financial statements. The company has no subsidiaries and is authorised for reception and transmission, execution, dealing on own account and portfolio management. Its board has seven members: executive directors Lenas Thoma and Christos Zacharia, non-executive directors Ioannis Kossidas, Andreas Charalambides and George Lyssiotis, and independent non-executive directors Alexis Michalias and Constantinos Papazafeiropoulos. Own funds were EUR 1.352 million and the capital ratio 180.26%, against a minimum of 100%. The disclosures do not name the shareholders.
Says the company acts as principal and is the sole execution venue for client orders, sets out the execution factors, and states that part or all of its trades are covered within the company or related entities having the same or similar shareholders, some of which may act as market makers.
Lists the Cyprus company’s policies, key information documents, execution quality reports for 2021 to 2024 and Pillar III disclosures for 2021 to 2025. We found no complaint statistics among them.
Says client funds are deposited in top-tier, well capitalised banks and financial institutions, which it does not name, and kept separately from the company’s operating funds, and that the company is part of the Investor Compensation Fund.
An Internet Archive copy taken on 30 September 2026. Says client funds are deposited in top-tier, well capitalised banks and financial institutions, which it does not name, and kept separately from operating funds, and that “we are regulated by multiple regulatory bodies”.
Says the company has introduced negative balance protection, so that a client cannot lose more than the initial investment, triggered when margin close-out cannot be applied in extreme market events.
States that the company is a member of the Investor Compensation Fund and explains which clients and claims are covered.
An Internet Archive copy taken on 30 September 2026. Says Errante holds financial institutions civil liability insurance of up to EUR 1,000,000 with Zurich Insurance Group, covering civil liability claims against Errante for wrongful acts in its services, and that client funds are safeguarded separately through segregation.
Describes the Investor Compensation Fund for clients of investment firms that are its members. Covered clients can claim the lower of 90% of their covered claims and EUR 20,000 if a member cannot meet its obligations.
Lists deposit and withdrawal methods with minimums, fees and processing times: deposits from EUR 50 without fees; bank wire withdrawals from EUR 100 with a EUR 5 fee within two working days, card withdrawals from 20 without a fee within one working day and e-wallet withdrawals with a 1% fee within one working day. Funds in another currency are converted into the account currency, with no charge stated.
Withdrawal requests are processed by the back office within one working day; bank transfers take about 3 to 5 working days and card refunds up to 10 working days to arrive. Withdrawals go back to the original payment method, and third-party payments are refused.
An Internet Archive copy taken on 30 September 2026. Lists deposit methods including cryptocurrencies without fees, and withdrawals by bank wire (from 100, fees of EUR 5, USD 20 or GBP 10, two working days), card (no fee, within one working day) and e-wallet (1%, within one working day). Funds in another currency are converted into the account currency, with no charge stated.
Withdrawal requests are processed by the back office within one working day; bank transfers take about 3 to 5 working days and card refunds up to 10 working days to arrive.
Lists Errante Securities (Seychelles) Ltd, Suite 18, Third Floor, Vairam Building, Providence, Mahe, warned in August 2025 for soliciting over-the-counter derivatives trading over the internet without registration in Japan; the service named is “Errante” (エランテ). The entry for GT Global Ltd (FXGT.com), warned in November 2025, gives the date of the Errante warning as 28 August 2025 and notes that the two share the same or a very similar address, while saying their relationship is unknown.
Complaints are acknowledged by email within two business days with a reference number and resolved within two months, or at most three months with reasons for the delay. Clients who are not satisfied can approach the Financial Ombudsman of the Republic of Cyprus or CySEC.
Complaints are made on a form sent to compliance@errante.com, acknowledged within two business days and answered within 21 business days, or up to 90 business days for complicated complaints. The procedure points clients to the complaint form on the Seychelles FSA’s website and names no independent dispute body. The document says it was updated in September 2025; we use 1 September 2025.
Compares Standard, Premium, VIP and Tailor Made accounts: minimum net deposits of EUR 50 to EUR 15,000, spreads from 1.8, 1, 0.8 and 0.0 pips, no commission except an unstated commission on Tailor Made, leverage up to 30:1, a margin call at 100% and a stop-out at 20% for every account.
Explains how swaps are calculated with examples, such as a charge of USD 3.68 for holding one lot of EURUSD overnight, and says swap-free accounts are offered for religious reasons with fees after a number of days.
An Internet Archive copy taken on 30 September 2026. Accounts offer leverage of up to 1000:1, with lower leverage for some clients, a margin call at 100% and a stop-out at 20%; Standard spreads start at 1.5 pips and the Tailor Made account charges a commission whose amount is not stated.
Says the company acts as principal and was the execution venue for all retail and professional client orders in 2024, and names its liquidity providers: Broctagon Prime Limited (CySEC), Finalto Financial Services Limited (FCA) and MTG Liquidity Limited (CySEC).
Describes how the Cyprus company identifies and manages conflicts of interest with and between clients.
Sets the default leverage for retail clients at 30:1, lower where the instrument’s maximum is lower, and applies margin close-out protection at 50% of margin to retail accounts.
Lists awards such as Best IB/Affiliate Programme Forex Expo Dubai 2025, World Finance 2024, Best Introducing Broker, Most Transparent Broker, Best ECN and Forex Award 2021, mostly without naming who gave them.
Gives the headquarters as 67 Spyrou Kyprianou, 4042 Limassol, a Cyprus phone number and an email address, with a contact form.
An Internet Archive copy taken on 20 April 2026. Gives the registered address as Suite 18, Third Floor, Vairam Building, Providence, Mahe, a UK phone number and the email support@errante.com.
Tell us about an error or send evidence. We read every report.