iTrader Review
What is iTrader?
Since 2012, the iTrader has been in operation. It has gained a reputation as a reliable platform for international users who trade thousands every month. While the broker's headquarters is in Cyprus, they also have internal lines to various countries that allow them direct contact with their clients. These lines include Russia and Spain as well as Germany, France, UK, UAE, Norway, and other countries.
Broker: ITrader
Minimum deposit: 250 US$
Leverage: 1:30
Regulator: CySEC. FSC
Year: 2012
Platforms: WebTrader, MT4
HQ: Cyprus
iTrader Licences:
Hoch Capital Ltd - Authorized by CySEC, (Cyprus). registration number. 198/13 Not Active
Bauline Trading Ltd. - Authorized by FSC, Belize registration number 622/TS/17
Overview
The iTrader has a vast selection of financial assets. It offers competitive fees and allows you to trade Forex or Currencies. This is the largest financial market in the world by volume of transactions and trading currency pairs. CFDs on Commodities and Indices with leading indices from Europe. The US, Far East, and the Far East. Stocks with attractive and popular shares from a variety of international and local markets.
Pros
Used by over 10,000 Itrader users and traders
Established in 2010
Regulated by Belize IFSC/60/322/TS16
Withdrawal requests processed within 1-working day
Cons
Doesn't allow EA's
Not FCA Regulated
Rating of the company overall
Reliability ⭐⭐⭐
Platform ⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐
Financial instruments ⭐⭐⭐
RATING: 3.0
Is iTrader a safe and legitimate trading platform?
iTrader is available at two locationsand any entities that are subject to the regulations and registrations. Hoch Capital Ltd. is regulated and managed by the Cyprus Securities and Exchange Commissionwhile it is subject to the necessary regulatory requirements for providing investment services in the EEA and beyond.
Therefore, iTrader investment activities as well as the operation of regulated market are according to the rules of MiFID within the European Union. This allows for cross-border services.
is the second jurisdiction iTrader delivers its service. It is located in Belize and has a poor regulation by FSC due to its offshore nature. This may have an impact on the differences between the offerings. You can still trust that the trading environment is safe and secure due to the parallel regulation of an European CySEC. (Learn more about Legacy FX Broker CySEC-regulated Legacy FX Broker).
Security of funds
The regulations are strictly followed by the broker to ensure the security of the funds. All client funds are kept separate and the company submits regular financial reports for review. clients of the CySEC fall under the Investor Compensation Fund for Customers of Cyprus Investment Companiesin the event of the broker's default.
Trade Platforms
iTrader provides a range of trading platforms that are tailored for both novice and experienced traders. However, the iTrader's core product is a HTMLTrader or an online trading software state of the art with full access to market information from any device.
The platform offers key features such as live analysis, charts with statistical data and Trading Cubes that show lot sizes and assets, as well the Visual Trends, which provide interpretations of major trends and market conditions.
Mobile tradingalso developed by the broker, which allows for you to gain full access and enjoy complete control over your account, investment monitor, and trades openings. The latest market reports, analysis, and updates can be downloaded directly to your phone.
Platinum clients of iTrader might still consider the most popular software for charting and analysis, the MT4which can also be used. It is also available in a desktop version that combines all the available features and tools.
Accounts
iTrader offers three account types: Silver, Gold, and Platinum. These accounts are diversified according to trader's type or size. On request, the Islamic Account is also available for traders who follow Sharia rules.
Fees
Trading costs are not charged by iTrader. Instead, executions are subjected to the variable spread. This spread varies depending on the account. See below for a comparison of accounts. Platinum account holders can also enjoy a free VPS, dedicated Account Manager, News Alerts, and a discount on Swap rates. See an example below.
You can also compare iTrader fees with another popular broker BlackBull Markets.
Leverage
iTrader leverage leveldepends on account type. However, these levels apply to global traders who have an account with iTrader worldwide. Because of the restrictions, the maximum leverage allowed under ESMA for Forex instruments is 1:30 if your account was signed with the Cyprus entity.
Withdrawals and Deposits
Once the account has been opened, the broker can offer a variety of payment options. The most popular options are through e-wallets. Payments via Debit card (Visa MasterCard, American Express, Maestro and American Express), WebMoney and Skrill.
Customers can withdraw their money quickly using advanced information security systems. The Company will pay to accounts where the beneficial owner of the account is the same as the trading account due to anti-money laundering (AML).
iTrader will refund credit card deposits up to the amount that was deposited using the same card. Sometimes, credit card companies set a time limit for refunds. If the time limit expires, funds will be refunded via bank wire to the client.
Withdrawal
ITRADER charges no withdrawal fees to its clients. You should note that some banks use intermediary bank accounts that charge fees. This is the responsibility of the client.
Education
Another advantage to iTrader is the customer-oriented, supportive business model. You can find answers online, via email, or through chats on social media. iTrader Academy is a learning center that focuses on financial trading and offers a way to get to know the basics and deeper tenets.
You can learn a lot through online webinars and books.
iTrader has been a trusted and active trading provider for over ten years. They have also won industry awards. iTrader is an official partner in online trading for Manchester City Football Club, EMEA.
Conclusion
The iTrader broker provides powerful technical options for trading. It also offers automated trading solutions that can both be used by experienced traders and beginners. There are many trading accounts available, which allows you to select the best conditions for you and your strategy. This is a great plus.
The spreads offer is slightly higher than the averageindustry proposal. Nevertheless, iTrader has been regulated as a broker. This means that the company is able to provide a calm and clear mind and keep your money safe.
Hoch Capital and iTrader update
The iTrader website has been removed.
The UK' FCA has issued a warning concerning Hoch Capital and its trading names Trade ATF and iTrader. This is because the broker was clearly acting against the investors' interests.
Hoch Capital is a CySEC-regulated broker. However, FCA regards Hoch Capital's trading methods and aggressive promotion in the UKcontroversial as violating its MiFID obligations. Numerous complaints were filed about the brokers' misleading marketing and promotion strategies. They also failed to properly assess the compatibility between its products and their customers.
Hoch Capital and its trading name imposed this requirement to notify all active accounts. They also must not provide financial investment services to UK residents.
"Hoch Capital Ltd isn't permitted to provide regulated services financial services to residents in the United Kingdom." - FCA mentions. Read more at the official warning link.