CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
ITRADER is one of the recent entries of the online CFD and Forex trading industry. Despite its tender age, the broker has set up the operation well. There are a number of attractive trading platforms on offer, the selection of tradable assets is impressive and most importantly: the broker is regulated. The CySEC license that's been issued to it, means that ITRADER is in full compliance with the MiFID directives, governing the operation of online brokerages within the EU. This doesn't just set the legal framework within which it can maneuver price making-wise, it also grants its traders a number of more than welcome protections.
What other perks does ITRADER offer though? Those looking to reach support, will be pleasantly surprised by the wide range of communication methods available. Besides great platform selection, there are quite a few options when it comes to account types too. The featured spreads are competitive and there's multi-language support.
On the drawback side: the FAQ featured by the side isn't properly detailed. It seems a bit like it was thrown together in a rush. There is no ECN trading, and while Islamic trading accounts are available, only Platinum-level traders can actually make use of them.
ITRADER features three different trading platforms, spearheaded by their WebTrader, which is sort of like the bread and butter of the trading experience offered by the site. This is where rank-and-file traders will land, and where most of their trading will happen. The main selling point of this platform is that it's a web-based, no-download one, which traders can access within a couple of clicks. It features great compatibility and it comes with a set of useful trading tools, such as a complete charting package, Trading Cubes and a superb illustration of the prevailing market trends. Let's not forget about the Live Analysis feature either. All the above make the Webtrader a very potent trading tool in and of itself.
The MT4 platform is unbeatable when it comes to technical analysis though. It comes complete with most of the popular technical indicators, ready for traders to put to use. The trading interface is very solid and customizable, and there's an automated trading capability which can indeed be very useful, but tricky as well. The mobile trading platform is for those on the move. Designed for various phones and tablets, this version of the platform comes complete with all the bells and whistles of the Webtrader.
The Silver account is the most basic ITRADER account. It features a maximum leverage ratio of 1:200, and the processing time on withdrawals is 7 days.
With the Gold trading account, the maximum on the leverage goes to 1:400, and traders gain access to a dedicated account manager too. The withdrawal processing time goes down to 5 days, and a 25% swap discount goes into effect.
The Platinum account delivers the full might of the ITRADER offer. The maximum leverage for this account-type is 1:500, and the withdrawal processing time is down to 3 days. Other than that, besides all the perks mentioned above, Platinum traders get to register Islamic trading accounts (if they qualify). They also get commission free trading, news alerts and no interest charged on overnight positions. The minimum required deposit with ITRADER is EUR/USD/GBP 250.
ITRADER support can be contacted via Live Chat as well as a host of country-specific phone numbers, and WhatsApp. Support@itrader.com is the email address, and there's a downloadable kit available for remote support too.
Everything considered, ITRADER is shaping up as a nifty CFD/Forex trading destination indeed. We haven' even mentioned their outstanding education center, which delivers VODs, eBooks, eCourses and various articles at the click of a mouse. The site also provides webinars and daily market reviews, to help traders with their analysis of the fundamentals. The bottom line: we can whole-heartedly recommend ITRADER. Their spreads aren't bad either. With a Platinum account, we're looking at a minimum of 0.7 pips on the EUR/USD pair.Visit ITRADER