ITRADER Video Review
Investor Protection & Regulations
“ITRADER is regulated in the EU by CySEC, and this compels ITRADER to give its customers protection in terms of modern cyber-security technology. ITRADER also offers protection of clients’ funds through segregated accounts and are required to make a performance disclaimer on the website.
The ITRADER is a regulated FX brand operating from Cyprus. It is regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 198/13. You can check the regulatory information on the regulator’s website
In Europe, traders’ funds are further protected by membership of the Investor’s Compensation Fund of CySEC. This ensures that investor’s funds are protected if the broker becomes insolvent. Traders can get up to €20,000 if it is proven that the trader lost money due to the broker’s inadequacies.
ITRADER provides adequate security to traders’ investment in the following ways:
To ensure adequate security, ITRADER embarked on full implementation of modern security practices. They used sophisticated firewalls to protect their entire network. This will make it very difficult for cyber criminals to crack into the system.
They also ensured that the website and trading platforms are protected using a Secured Socket Layer (SSL) encryption provided by Comodo CA. This SSL makes sure that all data transmitted to and from the website and platforms are all encrypted. Furthermore, all the trading servers are from SAS 70 certified server centres.
Funds deposited by Clients are kept in different bank accounts from that of ITRADER. This is done in strict compliance to the regulatory stipulation. So, if in the future ITRADER runs into financial difficulty, trader funds will not be affected.
“ITRADER offers for CFD trading various assets, mainly FX pairs, stocks, commodities, indices and cryptos listed below.”
“There are a variety of account types available. Choose from the Silver, Gold or Platinum Accounts, and trade with spreads of 0.7, 1.3 and 2.2 on the EUR/USD respectively”
Three major account types are provided on the ITRADER brand. They are as follows:
For this account, the maximum leverage is 1:200* for forex majors, no dedicated account manager. Webinars and videos are also not available. The spread on the EUR/USD is 2.2pips. No discounts are given on swaps. Hedging with the Silver account is permitted. 24/5 customer support. Same day withdrawal process.
This account features lower spreads when compared to the Silver account. The EURUSD benchmark spread is 1.3 pips. The maximum leverage is 1:400* for forex majors. Account holders get a dedicated Account manager and also have access to webinars and videos. A swap discount fee of 25% is given to Gold account holders. Hedging is permitted. Same day withdrawal process.
This is the premium account offered by ITRADER. This account gets the lowest spread as the EURUSD spread is 0.7 pips. Account holders get access to news alerts and a free VPS. They also have a swap fee discount of 50%. The maximum leverage is 1:500* for forex majors. Hedging is permitted. Same day withdrawal process.
This account is available for muslims who are forbidden to operate accounts with overnight interests and commissions. It is available for the Silver, Gold and Platinum Account types.
This is available for all traders as a practice account. Unfortunately, it is only available for 14 days. Up to $100,000 is available in virtual currency for trading on the platforms.
All account types on ITRADER come with a minimum deposit requirement of 250 units of either USD, Euros or British Pounds.
*Given leverages are available to professional clients only
To open an account is very easy. Just click on “open account” on the right side of the menu bar. Fill the account opening form and you will get the login credentials via the registered email address.
The next step is to download and install the MT4 trading platform.
After installation, choose the appropriate server and login with the account number and password received via email.
To start trading with the live account, verifications and deposits are required. The same form is used to open both the demo and live accounts. But, demo trading can commence immediately.
Due to certain regulatory reasons, traders resident in Canada and USA are not accepted by ITRADER.
ITRADER states that they comply with the international standards and regulations to ensure a safe and transparent trading environment. So, they have a “Know Your Customer” (KYC) policy.
Deposit & Withdrawals options
“Choose from several payment options on ITRADER, which are available depending on the client’s country of residence. Withdrawals take 1 business day to process and are commission-free, while also offering fast transaction times on e-wallet methods.“
ITRADER charges no commissions on withdrawals and deposits. The minimum withdrawal amount is $100 per request. Before a withdrawal can be made, clients must have completed all verifications. The following methods are accepted for payments:
Credit/debit cards: Only cards issued by VISA, and MasterCards are acceptable. The minimum is $/€/£ 250. Deposits are instant and withdrawals are processed within 1 working day.
Bank Wire Transfer: This method can be used for both deposits and withdrawals. The withdrawal request is processed within one working day.
E-wallet methods: This method can be used for both deposits and withdrawals. The withdrawal request is processed within one working day.
ITRADER states that only payments from sources bearing the same name as the trader will be accepted. No third party withdrawals are allowed. The same method used for deposit will be used for withdrawal. The maximum withdrawal to a credit card will not be more than the amount deposited with the same credit card. Any profits made will be withdrawn through a bank wire transfer. A valid and verified documentation is always required.
Web & Desktop Trading Platforms
“You can trade with various versions of the MT4 platform on ITRADER. Trade with the desktop client or the web-based version of the MetaTrader4 platform, with ability to use expert advisors on VPS.”
ITRADER offers clients various versions of the MT4 platform. These include a browser-based version, the desktop client and the mobile trading apps.
The WebTrader platform is a non-downloadable, browser-based MT4 version which is available via a link on the website. Get in
here to access the Webtrader.
The Webtrader is a stripped-down version of the MT4. On the screen, you have the asset listing and bid/ask prices on the left. You also have the charts (customizable), as well as a tool bar at the top of the page.
The MT4 desktop version is also available for downloading and installation. It is available for Mac computers and Windows PCs.
MT4 offers sophisticated trading tools such as Gann tools and Fibonacci tools There are also various charting functions, 30 native indicators and allowance for use of forex VPS and expert advisors. Various keyboard shortcuts enable key functions to be executed quickly. For instance, Alt + 1, Alt + 2 and Alt + 3 can be used to switch between bar, candlestick and line charts. Use Ctrl + U to view assets you want hidden or displayed on the Market Watch window, and Ctrl + R to use the Strategy Tester.
Mobile Trading Platforms
“Trade on-the-go across a range of mobile/handheld devices with ITRADER ’s MT4 Mobile Apps. Download the proprietary trading app from ITRADER on the Google Play Store as well as the App Store.”
ITRADER offers their clients a proprietary mobile trading app for mobile devices. This app allows clients to connect to the global market anytime and from anywhere. It is simple and easy to use.
Here are some of the features of the ITRADER Mobile App:
Complete access to traders’ accounts.
Access to trade CFDs on currency pairs, commodities, shares, indices or cryptocurrencies.
Easy order management and trading.
Access to view charts and analysis.
“Choose from several native indicators on the ITRADER MT4, or download and use several resources from the MQL Community website by using the Market Tab in the MT4 Terminal Window.”
Some of the Features of the MT4 are:
Multiple Indicators and Charts: These are necessary for analysis by a trader.
Trading Cubes: this shows all assets and their features as chosen by the trader.
One Click Trading: Placing trades are fast, easy and efficient using a single click.
Programming and use of Expert Advisors: The MQL4 editor enables clients to create, test and use forex robots. This automates forex trading and places trades when an opportunity for trading arises.
Access to Help: There are multiple sources of help. There are training videos, articles and Metaquotes forum where clients can get help. There is also a market where clients can buy forex robot and other valuables.
Some other tools provided are:
VPS service is provided free of charge to only Platinum account holders.
Forex Calculators: 3 calculators are provided. They are Pivot calculator, Fibonacci calculator and Deal Size Calculator.
“With a spread of 0.7 pips, trading on ITRADER will not cost you too much. Choose from some of the lowest spreads in the forex market when you trade FX majors and minors on ITRADER.”
The table below shows the spread obtainable when you trade with ITRADER. This is the lowest spread obtainable. The spread differs according to account type opened by the trader.
*All data was taken from the broker’s website and was accurate at time of posting
Bonus & Promotions
“ITRADER offers no promotions or bonuses in keeping with CySEC regulations”.
ITRADER does not provide any bonuses. No promotions or contests were found. This is not surprising, given that these are now prohibited in the EU as a result of the new ESMA regulations passed in 2018.
“Customer support service is available on a 24/5 basis with ITRADER. Customer service is multi-lingual and is especially fast when the Live Chat is used”.
Customer support is available in selected languages.
Phone Support: Multilingual customer support. The CY phone support line is +357 77788511.
Email: For all enquiries: send emails to: Support@itrader.com or Docs@itrader.com.
Live chat: Web Chat facility is available on the website.
“Get in Touch” Form: This is available on the website and it goes directly to customer support and sales representatives.
Social media: Facebook.com/iTrader.COM; Instagram.com/iTrader_com.
It took less than two minutes for the customer care representative to pick up the phone. The reps are courteous and knowledgeable.
The web chat facility is not functional as at the time of this review. It only pops up a “contact us” form. After filling the form, it submits and nothing happens.
The social media channels are active and also available for support. Email response takes a few hours.
“Some research and chart analysis is provided by ITRADER, but this is limited in scope”.
Daily and Weekly Market summaries are provided on ITRADER.
Chart analysis is offered in the form of explanatory short videos, where experts do some explanation of chart studies for beginners and intermediate-level traders. These videos are posted every business day and they feature some selected trading instruments.
“A decent level of education resources is available including a couple of ebooks and VOD. It’s the same content as used by many other brokers.”
These materials come in the form of the following:
EBooks: 4 eBooks are available: They are:
Commodities and Futures eBook
CFDs and Stock eBooks.
Video on Demand (VOD): About 28 training Videos are provided. They are organized as Beginners, Advanced, Terms, Strategies and MT4. These videos are clear, short and precise. They are professionally made and presented.
Another set of videos is grouped into two. These are the ‘Beginners’ Course” and another on ‘Trading Tools’. There are 11 videos in total.
Also, there are MT4 desktop platform tutorial and MT4 mobile tutorials. A glossary of relevant trading terms is featured. The glossary is well arranged in alphabetical order with clickable Letters.
“The overall experience is satisfactory and the experience offers some good trading technology for beginners and more experienced traders. The company got some good reviews online for their trading experience.”
The MT4 platform seems to be well accepted among traders If you look online. Several reviewers gave ITRADER positive reviews. Their proprietary mobile trading app is available on Google playstore for android and apple store for iPhones. Most of the mobile platform reviewers on these stores gave good ratings. They affirm that the app is simple, convenient and easy to use.
Where is ITRADER based?
ITRADER operates from the Republic of Cyprus and is regulated by CySEC.
How do I deposit in ITRADER account?
You can deposit funds using credit/debit cards (VISA, MasterCard,), e-wallet payment gateways like Skrill and Neteller. Bank Wire Transfer is equally acceptable.
What is the min. deposit for ITRADER?
The minimum deposit acceptable is $250
What is the max leverage in ITRADER ?
Maximum leverage is 1:500, it is only available for Platinum account holders and only applicable to professional clients.
How do I open an account with ITRADER?
Just fill the online form found on the right hand corner of the menu bar.
Does ITRADER use MetaTrader?
Yes, ITRADER offers the popular MT4 trading platform.
“ITRADER is a offers multiple trading instruments across CFDs on currency pairs, commodities, shares, indices or cryptocurrencies. The brand is regulated by CySEC in Cyprus and offers a compensation scheme. Traders’ funds are secured by their strict security practice which includes fund segregation.“
ITRADER is an online brokerage brand that offers multiple trading instruments. The brand is regulated and complies with the regulatory rules. Traders’ funds are secured by their strict security practice which includes KYC, Website encryption and clients’ funds segregation. Trader education is provided with well recorded, edited and professionally presented videos. Ebooks are equally available.
However, a major drawback is that only the MT4 trading platform is offered. The brand has however, done well to develop a proprietary mobile app which has been rated highly by most of its users. ITRADER is a an emerging brand which may be ok for beginners, but needs to keep working on its brand offering to be able to capture the market share from existing brands in the FX market.