InterTrader.com, also known as InterTraderdirect.com, is a CFD broker registered in Gibraltar that prides itself on never trading against its clients. InterTrader Direct has a ‘No Dealing Desk’ and is authorized and regulated by the Gibraltar Financial Services Commission (FSC).
To apply for an account at InterTrader, a trader need only to fill out an online application form which asked to choose between a spread betting, CFD or FX trading account, and to select the currency in which he would like his account to be denominated.
Spread betting and CFD trading are both forms of margin trading where traders can go long or short of the underlying instrument without making a physical purchase. The same range of markets can be traded at the same prices on the same MT4 platform, whether the account it is spread betting or a CFD. Spread betting at InterTrader Direct is only available to UK clients, and under UK law spread betting is exempt from Capital Gains Tax.
The spread betting account allows the trader to gain leveraged exposure to price movements without physically buying anything. With a small margin deposit amount to cover a potential downside, a trader is able to simply make a bet per point movement in the underlying instrument.
The spread betting account uses a transparent ‘per point’ profit/loss system applied to Forex, indices and commodities. One mechanism covers all market types.
The CFD account offers a cost-effective and flexible way to trade financial markets on margin. Rather than purchasing or selling the underlying instrument, a trader buys or sells a contract which replicates the profit or loss of his intended trade, putting down a fraction of the full contract value. This allows a considerable amount of leverage.
There are 46 major and minor Forex pairs to choose from with leverage of 100:1. When trading indices and commodities leverage of 200:1 is permitted.
When doing this InterTrader review, I was pleased to see that anyone can open a demo account and test the InterTrader service on the MT4 platform. The demo account is available for spread betting or CFD trading and covers Forex, indices and commodities.
InterTrader uses the MT4 trading platform, one of the world’s most popular trading terminals for Forex trading. The platform combines online trading, technical analysis and the ability to automate trading strategy via expert advisors (EAs).
By using MT4 a trader can trade Forex at interbank market prices, and can also trade CFDs or spread betting positions on indices and commodities.
MT4 is proprietary software that is downloaded to a computer. The platform supports multiple order types and lets the trader customize his own trading tools using the MQL4 programming language.
InterTrader also offers a mobile trading platform for iPhone, iPad and Android.
Markets are open for trading from Sunday 23:00 until Friday 21:15, UK time. Forex trading is available around the clock during the trading week and some indices are quoted outside market hours. Customer support is available by phone Monday to Friday, 8am to 9.15pm UK time, via email and online chat. The website is available in English, Spanish and Swedish.
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