Home ITrader Review – Everything You Need To Know About This Broker

ITrader Review – Everything You Need To Know About This Broker

As a relatively new broker in the industry, but definitely no amateur, ITrader has quickly established itself as a leading, reputable and trustworthy global financial asset brokerage firm. Backed by experienced players in the financial and technology world, ITrader has managed to deliver a compelling trading environment for all types of investors. ITrader is fully regulated and boasts an advanced trading platform that allows traders to trade a wide range of CFD assets such as Stocks, Forex, Commodities and Indices. As well as an efficient banking system, excellent customer service and comprehensive trading resources, ITrader provides the modern trader with the perfect environment to maximise profitability, while minimising risks when trading a wide range of online assets.

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Below is a review of the entire trading offering available at ITrader based on our own experience with real money.

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License and Regulation

ITrader is a fully regulated Forex and CFD brokerage firm. The broker is a brand of Bayline Trading Limited, a company duly registered and licensed in the prestigious location of Belize. Bayline Trading Limited holds the License No. IFSC/60/322/TS16 issued by the Belizean International Financial Services Commission (IFSC).

Bayline Trading Limited also has a subsidiary, Bayline Global World Ltd, that is fully incorporated and regulated in the UK under registration number SC517838. Bayline Global World Ltd oversees the operations of the ITrader brand in Europe, and has a verified address at Brunswick Street, Edinburgh, United Kingdom, EH7 5HT.

Regulation is a big thing in the online financial assets brokerage scene. It is the first sign of trustworthiness and more or less guarantees safety of client money. Regulation also ensures that a broker offers fair and transparent trading services at all times.

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ITrader: Scam or Legit?

In an industry riddled with scam headlines every now and then, it is important to determine whether ITrader is a legit brokerage company worth any investor’s time and money. This is why we performed a comprehensive scam test on the broker to ascertain that we are dealing with a legit broker.

To start with, as discussed above, ITrader is a fully regulated broker holding a license in Belize and UK. Its UK license covers the entire European Union common region and gives the company the legitimacy that serious investors seek. Financial trading is one of the most heavily regulated spaces but ITrader has managed to achieve regulation in multiple jurisdictions. This means they are determined to offer traders a transparent trading environment.

Trading platform manipulation is a major characteristic of scam brokerage firms. Such platforms ensure traders are always at a disadvantage when trading online. This can be in the form of many re-quotes, slippages, or even ‘false’ prices. ITrader uses the industry standard MetaTrader 4 and during our test, we found all their platforms to be genuine, untainted and ‘safe’. Furthermore, as a regulated broker, ITrader is subject to random platform checks by the relevant regulatory agencies to ensure they always transmit live and transparent prices across all their available tradable assets. The checks are also done to ensure that the broker guarantees best order execution at all times.  

As part of our scam test, we also examined ITrader’s payments processing system. Typically, most brokers will accept deposit ‘efficiently’, but problems always arise when traders request withdrawals. There will always been a pending issue that needs to be sorted out and investors may wait eternally to enjoy their profits. This is absolutely not the case with ITrader. All withdrawal requests are processed within 24 hours. All approved withdrawals will then reflect on the clients’ end within 5 business days.

A major online scam is identity theft. Brokers usually collect confidential client details due to various KYC and anti-money laundering guidelines imposed on them. As clearly stated on their site, ITrader treats such information with utmost respect and confidentiality. The broker also uses the highest levels of encryption throughout their site, which ensures that no private customer details are compromised at any given time.   

Overall, ITrader performed well in our scam test and we can conclude that they are a legit brokerage firm that any trader can trade with, with confidence.

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ITrader Account Types

ITrader has a choice of three account types aptly designed to meet the different trading needs of diverse investors.

Here are the main features of the accounts:

Silver Account

Silver account traders will enjoy the following:

  • Spreads as low as 2.2 pips
  • Leverage up to 1:200
  • 24/5 support
  • Hedging
  • Islamic account available

Gold Account

Gold account traders will enjoy the following:

  • Spreads as low as 1.3 pips
  • Leverage up to 1:400
  • 24/5 support
  • Hedging
  • Islamic account available
  • Dedicated account manager
  • Webinars and Videos
  • 25% swap discount

Platinum Account

Platinum account traders will enjoy the following:

  • Spreads as low as 0.7 pips
  • Leverage up to 1:500
  • 24/5 support
  • Hedging
  • Islamic account available
  • New Alerts
  • Free VPS
  • Dedicated account manager
  • Webinars and Videos
  • 50% swap discount

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ITrader Trading Platforms

ITrader has 3 trading platforms, all based on the popular MetaTrader 4. The platforms include:

  • WebTrader

ITrader WebTrader is a state-of-the-art web-based trading platform that can easily be accessed on any browser (mobile or desktop) with internet connectivity.  The key features include live analysis and charts, trading cubes, visual trends and a 14-day demo account.

  • MetaTrader 4

MetaTrader 4 is the world’s most popular retail trading software. It has gained such status as a result of powerful trading tools and a great user interface. The key features of ITrader MetaTrader 4 include numerous indicators and charting tools, trade and analysis speed, as well as ease of order placement.  

  • Mobile App

The ITrader mobile app boasts similar functionality to the desktop alternatives. It allows traders to trade with unparalleled convenience and flexibility. With mobile devices becoming a mainstay in society, the ITrader mobile app ensures traders can enjoy increased trading times as well as monitor their open trade positions effectively, even while on the go.

You can trade various financial asset classes on all ITrader platforms such as Forex, Commodities, Stocks, Indices, and many others.

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ITrader Trading Resources

A good broker will ensure you have the best possible chance of realising your trading goals and ambitions. ITrader is aware of this and has put together arguably the most comprehensive educational package that can help all types of traders to acquire the necessary trading knowledge and techniques required to curve out a successful career while trading financial assets online. Under the ‘Education’ tab on their homepage, you can access numerous educational materials such as eBooks and videos that discuss various trading strategies and other trading aspects. There are also plenty of other structured trading courses that are relevant for both new and the more experienced traders.

There are other trading tools available as well such as the Economic Calendar that can help traders implement a fundamental trading strategy in the markets efficiently, and the Trading Calculator that can aid traders to easily calculate pips, margin, pivot points as well as Fibonacci levels. There are also daily, weekly and monthly market summaries available for all traders.  

ITrader Payment Methods

ITrader operates an efficient payment processing system that allows traders to deposit and withdraw funds from their trading accounts safely, securely and conveniently. ITrader traders can deposit and withdraw funds using various safe and convenient methods, such as major credit/debit cards, wire transfer and eWallets, such as Skrill. Traders can begin trading as soon as a successful deposit is made, whereas all withdrawals are processed within 24 hours and traders can enjoy their profits with 5 business days.

Safety of client funds and overall security is a priority at ITrader. All data flow within their infrastructure is encrypted using advanced firewalls and the latest Secure Sockets Layer (SSL), whereas all transactions are moderated by Level 1 PCI compliance services. As well, all ITrader trading servers work from SAS 70 certified server centres.

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ITrader Customer Service

As would be expected with a trader-centric broker, ITrader has an excellent customer support team that will ensure traders only have to worry about their trading activities and nothing else. The support team is friendly, professional, multilingual and highly responsive. They can be reached via live chat, phone or email. Check out the ‘Contact US’ tab on their homepage for all relevant contact details depending on your region. For further convenience, there is also a detailed FAQs page that provides answers to most of the issues traders wish to resolve.

Final Word – Is ITrader the Right Choice for You?

ITrader is a great choice for all types of investors interested in trading financial assets online. As a regulated broker, ITrader provides a safe, secure and transparent trading environment for all its traders. The broker also features robust trading platforms that allow traders to speculate on the price movement of over 200 financial assets. In addition to efficient banking systems as well as excellent customer service, ITrader stands out as a top broker well worth the time, attention and money of the modern investor that wishes to take their trading activity to the next level.

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