- Name : ITRADER
- Website : itrader.com
- Established : 2012
- Regulation : CySEC
- Country : Cyprus
U.S. Clients Allowed :
NoDue to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.
ITRADER ReviewITRADER Review
ITRADER.COM is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 198/13 and is a sponsor of Manchester City F.C.
ITRADER.COM offers a range of three account types: Silver, Gold and Platinum. Higher minimum deposits are required for the Gold and then the Platinum accounts, but lower spreads are charged against trades.
The company offers spreads which are quite reasonable for its market and a very high maximum leverage of 500:1– all for a minimum deposit of just $250 (which can easily be deposited via credit card or wire transfer). The minimum deposit ensures a qualification for a Silver account, whereas greater amounts must be deposited to qualify for a Gold or Platinum account.
Traders can set up an account within minutes once all of the necessary compliance documents are uploaded.
ITRADER.COM allows trading in a very wide range of assets including individual stocks, commodities including gold and oil, forex, and equity indices. Many of the instruments are offered for trading as CFDs.
Contracts for Differences (CFD) give traders all the benefits of owning a particular stock, index, or commodity position – without having to physically own the underlying instrument itself, enabling clients to trade the change in price of multiple commodity and equity markets, with leverage and immediate execution. A customer enters into a contract for a CFD at the quoted price and the difference between that price and the price when the position is closed is settled in cash – hence the name “Contract for Difference” or CFD.
ITRADER.COM provides commission-free trading, with absolutely zero fees – and also has pretty competitive spreads, which go as low as 0.7 pips on the benchmark EUR/USD currency pair for Platinum account holders. To give you an idea of the differences between the different account types, the lowest spread in the EUR/USD currency pair that a Silver account holder would expect to see is 2.2 pips.
Leverage of up to 500:1 is available for Forex, 125:1 for commodities and indices, and 50:1 for individual stocks – meaning that an account funded with $5,000 could open a $250,000 position in an individual share.
A demo account is available for new traders or any other traders who wish to practice new trading strategies before moving on to a real account. This “paper trading” can be useful as a test run before making any financial commitment.
The major trading platforms offered are Metatrader 4 and Webtrader, the latter of which is most noted for its features of “trading cubes” which can speed up trade execution, and a “visual trends” charting tool which allows the major market trends to be assimilated at a glance.
Something that stands out from ITRADER.COM’s offering is the wide range of 31 European equities available for trading, as well as 50 North American stocks. There is also a particularly wide range of commodities offered, including softs such as corn, cocoa and orange juice.
ITRADER.COM seems to be a gimmick-free broker, offering the concrete and useful features that one would expect from a competent broker: popular trading platforms, mobile phone compatibility, a wide range of assets, and a fully-stocked education and news service free to clients.
Bonuses and Promotions
ITRADER.COM offer no bonuses or promotions as at the time of writing. This could be interpreted as a sign that the company is more interested in a strategy of attracting customers with good service instead of gimmicks.
Deposits may be made with VISA, Mastercard, or by wire transfer.
Withdrawals may be made via wire transfer.
Education / Training
ITRADER.COM has an extensive educational offering for its clients.
Several e-books may be downloaded, explaining the nature of currency pairs, stocks, commodities and CFDs.
The website includes tutorials on how to use the Metatrader 4 platform on both PC and mobile interfaces, as well as a fairly wide range of written material covering most areas relevant to trading Forex.
ITRADER.COM offers an Islamic account, with no overnight interest charged or paid, and of course it is commission free. Islamic accounts also come with a dedicated account manager who will handle the client’s relationship with ITRADER.COM.
ITRADER.COM is headquartered and Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). On a regular basis, ITRADER.COM submits its financial reports to CySEC for review and moderation.
Client accounts are segregated and reviewed every day.
Investor Compensation Fund Policy
ITRADER.COM is a member of the Investor Compensation Fund for Customers of Cyprus Investment Firms and other Investment Firms which are not credit institutions, which was espablished under the Investment Firms Law 2002.
The object of the Fund is to secure the claims of the covered clients against the members of the Fund by the payment of compensation for their claims arising from the covered services provided by its members, so long as failure by the member to fulfil its obligations has been ascertained.
The Fund may pay a maximum amount of EUR 20,000 as compensation as an aggregated amount to any qualifying retail client.
- Wide range of tradable assets
- Choice of popular trading platforms
- Very high maximum leverage available
- Spreads not as discounted for smaller depositors
|Review info :|
|Broker reviewed : ITRADER||Rating : 8 out of 10|
|Reviewed By : Sara Patterson||Review Date : 2016-11-21|