iTrader Review 2024 Is iTrader Scam or Legit Broker

iTrader Review 2024 Is iTrader Scam or Legit Broker

In light of all the myriad benefits, Global.ITRADER has developed a comprehensive and thoughtful platform that can cater to the needs of traders hailing from all experience levels. CySEC applies certain rules and requirements to Cyprus Investment Firms. For example, they must maintain net tangible assets of at least €730,000 in order to prove their financial stability.

Itrader Deposit And Withdrawal

Regardless of how you trade, there is always a risk to online trading, as well as some key advantages to using such a method. Swap discount rates are offered, 25% in Gold accounts and 50% in Platinum accounts; it appears that there is something amiss here and ITRADER has conducted a miserable approach in its transparency when it comes to account types. How those discounts are financed is unmentioned, and if trades are indeed placed, those charges do apply; without further information, this may suggest that all trades are kept in-house and never appear on the open market. Another misstep remains the listing of maximum leverage for professional clients, when the majority of traders if not all, will fall under the retail category. As there are a number of tradable financial instruments available on the Itrader trading platform.

• This broker aims to attract retail traders, but the team at iTrader seems to have more experience in web-commerce, as opposed to financial services.
• Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates.
• The Itrader platform has a demo account and educational resources, but it may not be designed for new traders so focuses less on those educational features.
• Should you decide to continue your search for the most suitable forex broker for you, other considerations might be IG, eToro, and/or Interactive Brokers.
• ITrader is a currency broker that is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC).
• A request is placed where trader needs to enter the amount and the info about the bank account.

Does ITRADER Have a License?

• Itrader is a very accessible trading platform but you must take the time to be able to effective use the trading tools and financial instruments Itrader give you access too.
• Also, MT4 is available as web trading app – from the browser, as a client application on a PC and a Mac computer and as an application for smartphone or a tablet (iOS and Android).
• Maybe because I used credit card and I could challenge them via credit card company if they declined.
• Finding a reputable ITRADER review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
• Click here for a full list of our partners and an in-depth explanation on how we get paid.
• In addition, the platinum account holders also can enjoy Free VPS, Dedicated Account Manager, News Alerts and discount on Swap or rollover rates, see example below.

Four eBooks are offered and the first two are surprisingly in-depth and consist of 78 and 94 pages respectively. Unfortunately, the last two which are only 10 and 8 pages long and can hardly be considered educational content. Islamic accounts are available on request and are free of swap charges.

People who looked at this company also looked at

My £200 has disappeared from my bank account and from the Itrader on screen account….. I will have to get advice and hope that if they read their reviews/feedback, someone within their company will email me/please sort this out and give me my money back, like others i’m on minimal wage too. There may be unlisted requirements for the account upgrade from Silver to Gold, and from Gold to Platinum, but they should be communicated.

Itrader Standard Account

Itrader does charge clients an inactivity fees for dormant Itrader trading accounts. A Itrader inactivity fee is a sum charged on Itrader brokerage accounts who have not met the minimum buying or selling amount of activity over a specific period. Brokers typically attempt to compensate for lack of commissions by charging inactivity fees. Itrader non-trading fees include a variety of Itrader brokerage fees and charges that a trader will pay which are not related to buying and selling financial instruments using the Itrader trading platform.

iTrader Platinum Account

On the same day I realised the kind of business I´m dealing with and put a request for withdrawal my money. I filled out all the documents needed and send several proofs of my bankaccount but all rejected. Surprisingly, the broker offers an extension selection of cryptocurrencies. There are also commodity CFDs, but equity CFDs are commercial companies in the EU and the U.S., with a sprinkle of some in Australian companies, while index CFDs have a good selection to start.

Despite ITRADER’s market conditions that are offered, the company has not received any awards to date. Between 74-89% of retail investor accounts lose money when trading CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Such speed is competitively faster than what most brokers can achieve and based on the actual tests that I did, they were able to fulfill this promise.

Such minimum initial amount is considered average; however, many other Cyprus-based brokers require less. For instance, leading EU brokerage XM demands just $5 from its clients as a start. The website does not provide investment services or personal recommendations to clients to itrader review trade any financial instrument. Information on FairForexBrokers.com should not be seen as a recommendation to trade CFDs or cryptocurrencies or to be considered as investment advice.

Potential clients are required to fill out basic information, which at ITRADER consists of the name, e-mail, phone number, and password only. This should grant access to the back-office where a copy of the trader’s ID and one document to proof residency should be required as mandated by the regulator; this is a necessary step to satisfy KYC/AML requirements. ITRADER is regulated by CySEC, but potential traders should think twice before submitting personal details to a brokerage which has shown as many issues as this review has uncovered.