Established in 2012, ITRADER is a licensed, online trading broker with a reputation for success, in the global financial trading community. ITRADER offers retail clients a reliable trading system and a variety of trading assets, including Forex currency pairs, CFDs for Commodities, Indices and Stocks. ITRADER online services include an educational centre, daily reviews, webinars, a broad range of trader tools and a unique ‘Guardian Angel’ messaging system providing ongoing support for traders. ITRADER is owned by Hoch Capital Ltd, a Cyprus investment company based in Limassol Cyprus. It is licensed and regulated by the Cyprus Securities Exchange Commission and complies with European Union MiFID rules.
iTrader Spreads and Leverage
ITRADER uses floating spreads for all assets, with spreads varying widely between Forex and CFD markets as well as the type of trader account. For Silver account holders, pip spreads for major currency pairs start at 2.2 whilst Platinum account holders benefit from pip spreads as low as 0.7. The amount of leverage available is also reflected in the type of ITRADER account and category of assets traded. Silver account holders get leverage up to 200:1 for Forex trading and 50:1 for CFDs. Gold account holders get up to 400:1 leverage for Forex trading and 100:1 for CFDs. Platinum account holders get access to the highest leverage of 500:1 for FX trading and 125:1 for CFDs. The higher than average spreads probably make up for the fact that ITRADER does not charge commission on trades.
ITRADER Account Types
Three types of live account are available at ITRADER: Silver, Gold and Platinum. The minimum deposit required to open any account type is 250 USD, EUR or GBP and clients can open more than one account. Setting up any of the accounts is free and commission is not charged on trading at ITRADER. All the accounts enable traders to trade in all the asset types offered at ITRADER. These include Forex and CFDs for Commodities and Indices As described above in ‘Spreads and Leverage’, Forex currency pair spreads tighten with higher value accounts from 2.2 to 0.7 whilst leverage increases from 200:1 up to 500:1.
iTrader Silver Account
The ITRADER Silver account is the most basic of the three accounts. Traders can practice ‘Hedging’ and have access to 24/5 support as with the other accounts. However, traders CANNOT access the webinars and videos, or get Swap discount or news alerts. Neither do they have a dedicated account manager or free VPS (virtual private server) with expert advisors for automating trading. As it requires the same minimum deposit as the other two ITRADER accounts, we can’t see the advantage of opening a Silver account.
iTrader Gold Account
Traders with a Gold account get a dedicated account manager and access to webinars and videos as well as 24/5 support. Moreover, they can practice Hedging and get 25% discount on Swaps. However, they do not get free VPS or news alerts.
iTrader Platinum Account
By opening a Platinum account with the same minimum deposit as the Silver and Gold accounts, traders get access to ALL the benefits at ITRADER. A dedicated account manager, free VPS enabling automated trading, news alerts, webinars and videos, hedging, a 50% Swap discount and 24/5 support. As we stated earlier in our review, Platinum account traders can get leverage up to 500:1 and spreads as low as 0.7 on Forex currency pairs.
Traders who follow the Islamic faith can request an Islamic account that conforms to Sharia Law. The Islamic account can be a Silver, Gold or Platinum account type described above and has a dedicated account manager. Specific adaptations are made, so that the account is free of overnight interests and commissions.
iTrader Demo Account
Traders can open a 14-day Demo account through the WebTrader platform. This allows them to practice risk-free trading with virtual money and become familiar with the state-of-the-art WebTrader features, before deciding whether to open a live account with ITRADER.
ITRADER offers two types of free trading platforms and a free ITRADER mobile trading app. Additionally, a free copy trading platform, ZuluTrade is included in the trading tools.
Instantly accessible from the browser of any internet connected device, web trader does not require download or installation. With WebTrader, clients have total market access in seconds with charts showing visual trends, live analysis and trading cubes for speeding up trades. WebTrader features one click order execution and an accommodating trading environment. Significantly, it allows clients to practice risk-free for 14 days with a WebTrader Demo account.
The MT4 trading platform is a firm favourite with traders all over the globe. It’s available for free download to Windows and MAC directly from the ITRADER website. The user-friendly, intuitive interface makes it suitable for traders starting out in online trading as well as for seasoned traders with plenty of experience. Packed with powerful charting tools and indicators, the MT4 platform enables traders to analyse prices and situations easily, thereby executing trades rapidly. Notably, the MT4 platform allows scalping and hedging. Moreover, traders can load ‘Expert Advisors’ and customised indicators to enable automated trading.
ITRADER Mobile Trading App
Traders with ITRADER accounts can monitor their investments, open trades and manage accounts on the move by downloading the ITRADER mobile app. The app allows traders to access analysis, updates and market reports instantly from any location. Notably, the mobile trading format has been designed to be user friendly and convenient on small screens. The free ITRADER mobile trading app is available for Android and iOS powered devices in the Apple App Store and Google Play.
iTrader Trading Tools
A comprehensive range of trading tools is available at ITRADER. Whilst the Copy trading platform ZuluTrade is listed under trading tools, we felt it was worth describing separately below. Other trading tools include an economic calendar, three types of calculators, a daily market summary, charts and a unique ‘Guardian Angel’ service. We found the unique smart messaging system ‘Guardian Angel’ especially interesting as it supports traders all the time, helping them to optimise their investments. Notably, traders receive messages with signal notifications on financial trends and financial markets updates while they are trading. Additionally, there’s automated feedback recommending a course of action at any point in time, for every trade. Guardian Angel is a FREE downloadable tool available to all traders at ITRADER, directly from the trading tools menu.
Zulu Trade Social Trading Signals with iTrader
With ZuluTrade, you can follow successful traders all over the world and copy their trades by executing orders automatically in an ITRADER account. ZuluTrade lists thousands of signals providers and traders select signals that suit their trading preferences. There’s no need to worry about protecting your investment capital as a special feature called ‘ZuluGuard’ is active 24/7 and steps in to protect your capital investment when necessary. What’s more, ZuluTrade is available as an app for mobile phones and tablets powered by Android, Windows and iOS operating systems.
iTrader Customer Support
We found the customer support at ITRADER especially impressive with phone, email, live chat and remote support over ‘Team Viewer’ available 24/5. The ‘Contact’ page lists 12 separate support phone numbers for Russia, UAE, Spain, Cyprus, UK, France, Germany, Italy, Norway, Denmark, Sweden and the Netherlands.
ITRADER supports deposit and withdrawal payments in EUR, GBP and USD using Visa, Mastercard, Maestro and American Express credit and debit cards. Also Bank Transfer, QIWI, Neteller, Skrill, WebMoney and Yandex. Notably, ITRADER does not charge fees for deposits and withdrawals and processes all withdrawal requests within 1 business day. Delivery time depends on the payment method selected by the client. Significantly, when withdrawing funds, traders accounts must have 300% free margin available to reduce the risk of a margin call on open positions.Conclusion: We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10! Between 74-89 % of retail investor accounts lose money when trading CFDs
South Africa newsletter
Signup for the newsletter and keep updated
about the best brokers and auto trading robots.
about the best brokers and auto trading robots.