iTrader Review 2018
iTrader is a leading online forex broker offering the trading of currencies, stocks, indicies and commodities, that was established in 2012. Based in Limassol, Cyprus, iTrader over the few short years that it has been operational has earned a reputation for being a reliable and transparent broker. The broker serves a large contingent of traders from all over the world by providing them with a wide range of assets to trade with as well as 24/5 customer support. With the cutting edge trading platforms provided by iTrader.com, traders can be assured of a safe and secured trading environment regardless of where they are trading from.
iTrader Video Review
iTrader is owned and managed by a Cyprus Investment Firm (CIF) called Hoch Capital Ltd. As a Cyprus based company, its operations are regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license number 198/13. This means that iTrader is in compliance with all the strict regulatory requirements imposed by CySEC. It also means that iTrader is permitted under the MiFID rules established by the European Parliament to “passport” its services under its CIF license to operate in any states within the Eurozone. Hence, iTrader is also registered and authorized by the following regulatory authorities:
- AFM (Netherlands)
- ATVP (Slovenia)
- BaFIN (Germany)
- Central Bank of Ireland (Ireland)
- CMVM (Portugal)
- CNB (Czech Republic)
- CNMV (Spain)
- CNVMR (Romania)
- CONSOB (Italy)
- Financial Conduct Authority (UK)
- Finansinspektionen – FI (Sweden)
- FINANSTILSYNET (Denmark)
- Finantsinspektsioon (Estonia)
- FKTK (Latvia)
- FMA (Austria)
- FSAN (Norway)
- HANFA (Croatia)
- HCMC (Greece)
- KNF (Poland)
- MFSA (Malta)
- MNB (Hungary)
- NBS (Slovak Republic)
- REGAFI (France)
iTrader has earned a name as one of the best brokers in the industry. This is evident from the numerous awards that it has won over the years:
- 2015 – Best ECN/STP Forex Broker
- 2015 – The Best Broker Insurance & Service. Excellent of The Year.
- 2014 – Best Broker in Southeast Asia (Forex Report Awards by World Finance)
- 2014 – Best Broker Asia Pacific (International Finance Magazine)
- 2014 – Best Forex Brand Asia (Global Brands Magazine)
- 2013 – Best Partnership Program (Masterforex-v)
- 2013 – Best Trading Platform (China Finance Online)
- 2013 – Best Forex Broker South-East Asia (World Finance)
- 2013 – Best Broker in Asian Region (Forex Expo)
- 2012 – Best MT4 Platform (9th China (Guangzhou) International Investment & Finance Expo)
- 2012 – Best Forex Broker Asia (World Finance Awards)
- 2012 – Fastest Growing Forex Broker Asia (Global Banking and Finance Review)
- 2011 – Best Mini Forex Broker (World Finance Awards)
- 2010 – Best Mini Forex Broker (ShowFX World)
Investor Compensation Fund Policy
Furthermore as a regulated broker under CySEC, iTrader is legally obligated to be a member of the Investor Compensation Fund as prescribed under the Investment Firms Law 2002. The compensation scheme acts an additional level of protection for traders should ever iTrader becomes unable to fulfill its legal obligations. Qualifying traders can apply for compensation under the scheme for up to a maximum amount of 20,000 euros.
iTrader Trading Platforms
The trading platforms which iTrader have made available to its traders is based on the popular MetaTrader 4 (MT4) platform. It is available in 3 different versions:
- MT4 Desktop
- Mobile Trader
The WebTrader comes with a user friendly interface with all the different functionalities neatly laid out. It comes integrated with an advanced charting package and a wide range of technical indicators that traders can use to enhance their market analysis. The trading process is also streamlined with the use of trading cubes by enabling trader to view several assets simultaneously. In addition, real time news feed also enable traders to keep updated of all the developments in the global market.
MetaTrader 4 Desktop
The MT4 desktop offers the same functionalities as the WebTrader. It is offered as a standard package and is available for download. It is used by all types of traders and is regarded as the most popular trading platform in the online trading industry. With the powerful features that can be found on the MT4 platform, iTrader.’s traders can easily fine-tune their trading strategies to get the best outcome.
For traders who are constantly on the move, iTrader’s mobile trading apps are the perfect platform for them. Available for download on Google Play Store or Apple’s App Store, the app allow traders to maximize their time from the palm of their hand.
iTrader.com Trade Types/Instruments
Currently, iTrader offers their traders a choice of more than 170 different types of instruments. They can choose from a wide selection of currency pairs, commodities, market indices and stocks. Most of these instruments are offered as Contract for Difference (CFDs) while currency pairs can be traded as spot forex.
iTrader Account Types
3 types of trading account are available for traders to choose from at iTrader. They all include free VPS, educational resources and news content. Here’s the account types:
Silver Trading Account
Maximum leverage of 1:200 for spot forex and 1:50 for CFDs
Hedging with the Silver account is permitted
24/5 customer support
7 day withdrawal process
Gold Trading Account
Maximum leverage of 1:400 for spot forex and 1:100 on CFD’s
Hedging is permitted
5 day withdrawal process
25% swap discount
Platinum Trading Account
Maximum leverage of 1:500 for spot forex and 1:125 on CFD’s
Headging is permitted 3 day withdrawal process
50% swap discount
Swap free, even for open positions
Dedicated account manager
iTrader Commissions & Spreads
iTrader does not charge their traders any commissions. Instead, all trades that are executed through iTrader’s trading platforms are subjected a small spread. These will depend on the type of trading account which the trader is trading from with silver accounts having the highest level of spread. Gold account holders will enjoy a lower spread than silver account holders while platinum account holders enjoy the lowest level of spreads.
The list below shows some of the applicable spreads for some of the more frequently traded instruments.
iTrader Deposits & Withdrawals Options
Several methods of funds transfers are possible at iTrader. Traders can choose to deposit their money into their iTrader trading accounts using the following methods:
- Major Credit Cards such as VISA, Amex, MasterCard and Maestro
- Bank Wire Transfer
The fastest way of depositing funds is by credit cards. For traders who wish to deposit using wire transfer, it should be noted that it requires at least 3 business days before the deposited fund are posted to the trader’s trading account balance.
For withdrawals, traders can do this through their credit cards or through bank wire transfer.
Before a withdrawal request can be processed by iTrader, traders have to ensure that the following conditions are satisfied:
- At least 300% free margin is available in the trading account. This is to ensure that in the event of a margin call, there are sufficient funds to meet the margin call
- Details of the method used for depositing the funds initially
- Details such as bank account details and address of the bank or credit card account for the funds to be withdrawn to
- Ensuring the first and last name of the bank account matches that of the trading account
- The withdrawn amount does not exceed the trading account balance
It should be noted that iTrader’s policy is to direct the withdrawn funds back to the same source as the initial deposit. Withdrawal requests received before 11.00am (GMT) are processed within the same business day. Requests that are made after the 11.00am (GMT) cutoff time are processed in the following business day. ITrader also does not charge their clients any withdrawal fee although this may not be the case for the banks that are processing the transfer of funds.
iTrader Bonus & Promotions
Currently, iTrader does not offer their traders any kind of bonuses or promotional offers. This can be indicative that this broker is more interested in attracting serious traders who are more concerned about the quality of the services offered than promotional gimmicks.
iTrader Customer Support
Apart from English, iTrader’s website is translated into 6 other different languages namely:
Access to customer support can be done through email, social media, live chat, web contact form or telephone. For their benefit of their traders, iTrader has also provided a dozen localized support telephone numbers for their traders to call. In addition remote support is also available. To activate the remote support service, traders have to download and install the remote client onto their desktop computer. Other support provided by iTrader include trading tools such as an economic calendar, trading calculators, chart analysis and market summary.
iTrader Pros & Cons
- Advanced trading platforms
- Choices of trading accounts
- Diverse range of trading instruments
- High quality customer support
- Higher than average spreads
- Lack of information on trading conditions
- No FAQ
Is iTrader regulated?
Yes. iTrader is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC). It is also authorized to operate in all the member states within the Eurozone.
How safe is iTrader? Is iTrader a scam?
Traders at iTrader are legally protected with the regulatory oversight provided by CySEC. In addition, the broker has over the few years that it has been operational established a reputation for reliability evident from the awards and recognitions that it has received from the industry.
Where is iTrader based?
iTrader is based in Cyprus. Its office is located at #5, Christaki Kranou, Office 201, Germasoya, 4047, Limassol, Cyprus.
How does iTrader make money?
iTrader earns its revenue by charging its traders a small spreads on each of the trade executed by traders on its trading platforms.
How to deposit in iTrader account?
Trading funds can be deposited into an iTrader trading account through major credit/debit cards or bank wire transfer.
How to withdraw money from iTrader?
Withdrawal requests at iTrader can be executed either through the trader’s credit cards or bank wire transfer. Take note that it is iTrader’s policy to transfer withdrawn funds by the same method used for making the initial deposit.
How to open an account with iTrader?
To open a trading account at iTrader, simply fill in the registration form and submit it to iTrader.
Is iTrader reliable?
Yes. iTrader is a reliable broker. It operates in compliance with strict regulatory guidelines as established by the Cyprus Securities Exchange Commission (CySEC).
Does iTrader use MetaTrader?
Yes. ITrader uses the MetaTrader 4 trading platform. Traders can choose from the desktop verison, web based platform and mobile trading app.
What is iTrader’s leverage?
For spot forex, iTrader’s maximum leverage is 1:200. For CFDs, the maximum leverage ratio s 1:50.
We were generally impressed by iTrader’s services and it has managed to prove itself to be on the same level as most of the leading forex brokers in the industry. iTrader deliver high quality and reliable services. As a serious trader if you are in the market for a broker that can satisfy all your trading needs, then iTrader could be the right broker for you.
|Number Of Employees||200|
Trading Account Options
iTrader Trading Features
|24 Hours Support||Yes|
|Support During Weekends||No|
Customer Support Languages
|Supported Trading Platforms||MT4|
|Guaranteed Limit Orders||Yes|
|Promotion info||Official Site|
|Start Trading with Tight Spreads as low as 0.7PIP!|
ITRADER gives each new client a head-start in global capital markets upon opening an online trading account!
- 5.0High leverageKent
- 5.0Score 5Marek
- 5.0satisfied with their process of withdrawalEleanor
- 4.0Forex eBook is very helpfulViorica