Min. Deposit: $250
EUR/USD Spread: 2.2 Floating
Accepts US Clients: No
Platforms: MT4 Desktop, MT4 Mobile and WebTrader
Web trading: Yes
Mobile trading: Yes
Currencies accepted: USD/EUR/GBP
ITrader is the leading regulated online trading service that provides a myriad of services and trading facilities to trade such as shares, commodities, Forex, ETFs, indices, and lastly, options. The company assures the introduction ingenious trading technology and tools for both traders and investors. The company is a well-known broker in forex and provides many opportunities for traders to earn in the market. ITrader has numerous customers who all come from different countries around the world expect the United States. It is an ideal place for those who engage in binary options to trade assets with currencies being the favorite. One brilliant feature of ITrader’s website is its multilingualism which gives you the opportunity to look at the website in your mother tongue so long as you are able to open an account in your country.
LICENSING AND REGULATION
ITrader is both regulated and authorized by the Cyprus Securities and Exchange Commission (CySEC) and is registered under the Hoch Capital Ltd, a Cyprus Investment Firm, under the license number 198/13. The firm is also registered in the Financial Conduct Authority (FCA) in the United Kingdom under the reference number 631408. Thus, meeting the agreed standards of all European Economic Area (EEA) countries.
When choosing a forex broker, you must always choose them based on the reliability of their services. ITrader is regulated by several regulatory bodies in different countries. This means that the company has taken the measures needed to meet the set regulation requirements set by numerous recognizable jurisdictions. ITrader has numerous local offices that operate within the jurisdictions it is regulated to operate. Registration with multiple authoritative bodies serves as the proof ITrader needs to be able to conduct its ethical business practices. The company is certainly one of the most reliable forex brokers out there and has around for 4 years and has experience in the provision of CFD trading services.
As per regulatory requirements, ITrader holds the funds of its members in separate client bank accounts, thus providing maximum protection for our client’s funds. However, this is not a guaranteed vanguard against the risks that accompany CFD trading. It is possible for you to lose the totality of your capital due to trading’s extremely risky nature. ITrader guarantee’s our members that their funds will not be used for hedging. Additionally, ITrader will not establish alleged positions. The company is also a partaker in the Investor Compensation Fund in accordance to the regulations by the Republic of Cyprus. Financial records are proof that ITrader is debt free, sufficient in liquidity, and possess surplus capital reserves.
Two accounts are offered on ITrader, a demo account and a real account. The demo account can be created free of charge. The demo account can be considered a training ground because you are able to trade with virtual money when utilizing a demo account. Once you have gained the confidence and are ready to start trading and investing your money, you can now start with a live account.
BONUS AND OFFERS
Members of the company are provided with a clutter free platform that is both simple and effective to use. ITrader utilizes the famous and well-known MetaTrader 4 for its platform. Apart from the MetaTrader 4 the company also has the Webtrader, an advanced we based trading platform that provides members full access to the market’s information via internet connection and web browser. Traders are given the freedom of trading in multiple markets all of which can be completed while using the same screen. ITrader ensures that they provide real-time quotes for their products. The trading platform is inclusive and all that is needed for members to do is to select the asset they wish to trade. All options are provided as labeled tabs and trading features differ with each type of trading asset. ITrader is not solely exclusive to the desktop, members can also download the company’s application which is compatible for the Android, iOS, and Windows smartphones thus making it more accessible to trade while on the go.
DEPOSIT AND WITHDRAWAL OPTIONS
Different options are made available such as Visa, MasterCard, Maestro, Skrill, and lastly wire transfer for funds transfer. Members can make deposits and withdrawals by utilizing any of the aforementioned options. In order to meet regulatory requirements we require members to submit or present proof of their identity and address before they can make a withdrawal. Fund transfers may take some time; this of course, depends on the deposit and withdrawal.
COMMISSIONS AND SPREADS
Being a reliable company that provides both CFDs and forex, ITrader doesn’t charge its traders with any commission fees. Instead, the company makes its earnings through offered spreads. The offered spreads are a minimum of 0.7 pips; however they vary and are dependent on the traded assets. The leverage offered by the company is up to 500. This large amount in leverage grants the possibility of earning a large sum of money; however you must also understand that potential for loss is also as high as winning large sums of money. It is advisable to only trade with real money once you’re confident enough with your trading skills.
Another key feature you need to look for when choosing a Forex broker is the company’s customer support service. ITrader provides its partners with 24/5 customer support through emails as well as live chat. However, the latter is not present within the company however, unlike some Forex brokers who do not have telephone support, ITrader comes with telephone support and can be reached through the various numbers found on the company’s website. The company knows how frustrating it can be to not be able to talk with a real person especially when you are experiencing issues with trading.
Because ITrader offers both CFDs and forex, the company is able to gain direct market access. This means that the price quotes you will be experiencing are the same as the market prices. In addition, ITrader also offers its traders scalping and hedging thus providing those who utilize this strategy ease in their trading. Unlike other companies who lack telephone support, ITrader has taken steps to include telephone support for those who wish to raise their concerns and wish to receive a quick response rather than having to wait hours for a response via email. Beginning traders can breathe lightly now because ITrader offers beginner accounts and has an education center for those who are starting out on their trading journey although there are differences between options for the two accounts.
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