Global ITRADER Review 2024
Shares from major companies all around the world, from different stock exchanges can be found. Apart from the majors, rare ones like the Tel Aviv and Saudi indices can be found. Noted exotics are USD/RUB, USD/INR (Indian Rupee), USD/PLN, EUR/HUF, and Scandinavian currencies. Israeli Shekel against the USD is listed but trading is only for 3 hours. ITRADER claims to be an ECN broker, and unlikely to other ECN brokers, does not charge commissions.
Deposits follow the familiar route of major credit cards, variety of e-wallets and of banking wire transfers. As with all brokers, you must keep your KYC/AML identity documentation up to data on the firm’s files before any withdrawal request can be authorized and processed. The company reserves right to charge withdrawal fee of 50 EUR in case of insignificant trading activity (1 transaction only) or no trading activity. Withdrawal funds delivery may vary by delivery channel, as banking intermediaries do add time to the process.
There are three account classifications with escalating benefits for each class. Spreads and leverage do vary by type of account, type of instruments and client categorization (retail, professional) a financial incentive for trying something above the Silver platform. Global ITRADER offers a wide range of trading financial instruments, including stocks, indices, Forex, cryptocurrencies, commodities and precious metals with the possibility of CFD. I entered a review of ITrader two months ago in which I stated that i had used Itrader before and that I will use them again in the future.
Speaking of the demo account, know that first-time visitors will be under the domain where the demo is offered clearly. In essence, this is a live account registration process where visitors will be questioned and assessed to the document ID upload and, finally, deposit. Anyone inexperienced with the process (trick) will not know that the client portal account is created once the email is submitted.
- With these trading platforms come various tools that complement the overall experience.
- With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, Itrader provides traders with everything they need to succeed.
- The bank or e-wallet transaction fees are not covered by this broker.
- Within the educational section we can see eBooks, webinars, courses, articles, and tutorials.
Beginners will appreciate the inclusion of one-click trading options alongside a large selection of included technical analysis tools designed to help refine trade decision-making. As for the minimum deposit requirement, Global.ITRADER asks its clients to deposit no less than 250 US dollars to their account. As far as we are concerned, this is a perfectly healthy amount for a Forex brokerage – not too high and not suspiciously low. Therefore, both experienced and beginner traders can make use of the Global.ITRADER platform without spending too much money. Apart from offering CFDs on currency pairs – which is the main tradable security on the platform, this broker makes more markets available for its traders.
The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, itrader review and a Dealing Desk-free trading environment. However, it’s important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD.
After logging into your Itrader account, you’ll find a range of trading platform options available below. Itrader may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Itrader terms and conditions to understand the commission fees and any other charges that may apply is essential. When considering Itrader for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Itrader, is to assess the broker’s regulatory status and administrative body.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Itrader terms and conditions. It’s important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them. Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees.
Nevertheless, iTrader is also a regulated broker which means the company follows and bringing a clear and calm state of mind that your money safe. As for the trading costs, iTrader does not charge the commission, instead, all executions are subject to the variable spread, that varies according to the account too, see a comparison between accounts below. 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. For the funds’ security, the broker operates in full compliance according to the regulations. Getting in touch with iTrader’s support is possible via phone, fax, email, remote access via downloadable software called TeamViewer and the instant messaging platform WhatsApp. She has the early stages of Dementia and was unaware of what she was doing.
A few bright spots followed, cryptocurrency selection was great, two eBooks were surprisingly in-depth and articles published marked a solid introduction to various aspects of the financial system. The most beneficial feature of MT4 remains the intensive support of automated trading solutions, but the superior ones come at a price. The library is expanded with free EA’s and other tools, but traders should be extremely cautious. Back-testing is equally available which can help traders forge their strategy, but this all falls on the trader. ITARDER provides the bare minimum when it comes to the trading platform. This is the reason why they received a Reputation score of 18/20.
This means that Global.ITRADER takes less “commission” out of trades and leaves more to the traders. The minimal volume was 0.1 lots with the increment steps in 0.01. This is a serious issue with anyone who is following strict money management where any 0.1 lot order would be too risky. We can openly claim that this practice is another way of forcing clients to trade and probably lose their funds, especially taking into consideration all the inconsistent information from the official iTRADER sources. The most prestigious Platinum type account has the best spreads, higher possible leverage, news alert, a VPS service, and 50% reduced swaps. The overall offer has some bundled services that could be useful like the VPS.
Is iTrader safe or a scam?
Customer service reps are responsive, and you can avail yourself of a multitude of eBooks, videos on demand, training courses, tutorials, and informative articles, as well. You will find more than just traditional forex trading with this broker, since it also offers CFDs in stocks, indices, cryptocurrencies and commodities for your trading enjoyment. The minimum deposit required to open an FXView Account is USD 50.
Timing is Everything: When to Enter a Forex Trade for Maximum Profit
The information for the XAU/USD states it is 0.59, 0.48 and 0.37 pips which are incorrect. It can only be 59, 48, 37 pips, but we are unsure if this is just a mistake or in purpose for marketing. For BTC/USD the starting spread is 50 pips which is larger than average. Generally speaking, iTRADER does not shine in the spreads category but not bad either. Interestingly, Google Play has an iTRADER app that is not like the standard MT4.
He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage desk and CRO and COO of hedge funds running a variety of strategies. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D. Mobile applications round out the trading platform options, such that anyone that can access the Internet from anywhere can open and close financial market positions with ease. The latest SSL encryption technology ensures that personal information and trading activity are private, and SAS 70 and Level 1 PCI standards ensure that system reliability and payment data are sound and secure. Technical support is particularly important in order to help traders control their funds and navigate the platforms efficiently.
However, if you’re looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. It’s recommended that you check the Itrader website before signing up. If you decide to close your Itrader account, it’s important to do so with the Itrader broker customer support and obtain confirmation that no remaining Itrader fees are due. In addition, currency conversion fees may apply if the Itrader withdrawal and receiving currencies differ, adding to the overall transaction costs.