Malta-based forex broker Exante said on Thursday it has decided to raise client account guarantees to up to €20,000. The offer is available to private clients who register for the first time with the broker, despite of their nationality.
By law, the fund of clients of Maltese-licensed forex brokers that fall under the Maltese Investment Compensation Scheme can claim 90% of the net loss subject to a maximum of €20,000.
The broker did not explain what exactly it means by raising the amount, nor did it say in what situations clients can claim it. It looks like investors that have accounts with Exante will be able to claim back the whole amount of up to €20,000.
Exante offers trading in forex, precious metals, options, bonds, stocks and exchange-traded funds (ETFs) through an in-house Automated Trading Platform (ATP). It has a minimum deposit requirement of €10,000 and offer a leverage of up to 50:1. The broker is licensed by the Malta Financial Services Authority (MFSA).