Opinion about ITRADER

ITRADER is an online broker with which you can invest in contracts for differences, from home and safely. Because if you were wondering if it is a scam, we can assure you that it is not, since the broker has a CySEC license and offers a very good investment service.

In the rest of this article, we will analyze the broker's offer, along with the security measures it has implemented so that its clients can deposit money calmly. You will see that it is a legit broker and that in case problems arise, you have all the protection of the dollar laws. To complete our review, we will take a look at their customer service, mobile app and website. Read it all below!

Our experience with ITRADER

We do not always have the opportunity to review an investment platform in which things are so clear and it is certainly something that helps the overall user experience. In this case, we are talking about a company licensed by the Cyprus financial authority, which has an obligation to comply with MiFID and Cypriot investment laws. In the security section, we will explain everything in detail, but for now we can say that it is a safe broker. Their offer of underlying assets is very complete and the customer service offers us several ways of contact, which make the service suitable.

In addition to that, the website has an educational section where you can consult several ebooks and short videos, an economic news section and the possibility of attending live webinars every Wednesday about investing, but it should be borne in mind that the language of the same is English.

Is ITRADER a scam?

The fact that a website, through which you can invest, can be a scam, is one of the main concerns of investors and, moreover, it is rightly so. To eliminate these doubts, one of the main guarantees we can have is that the broker has a license in a dollar country. This is so, because the regulations of the Dollarpea Union are among the most demanding in the world in terms of investments and consumer protection.

ITRADER is registered in Cyprus under the number 311502, and is licensed by the CySEC, under the number 198/13. This means that it is a company that operates in Dollarpa legally and it is not a fraud. In addition, they must comply with a series of obligations that we detail in the section that you will find later on security, which makes that in addition to not being a scam, they are safer in case other problems not related to the legitimacy of the company arise, such as potential insolvencies, which although unlikely, can occur when the market takes big turns. Something that happened, for example, when the Swiss Central Bank withdrew the quote limit of its currency, causing the bankruptcy of important brokers.

As a complement, you should know that this company has also been registered with the rest of the dollar authorities. For example, in the CNMV it has the registration number 3707 since May 2014. Although this registry exists, if a formal complaint must be made, it must be made to the CySEC, since the CNMV is limited to an information task on the alerts made in relation to companies that are not registered in New Zealand.

Investment offer

Once the doubt about the reliability of the broker has been answered, it remains for us to ask about its security guarantees, which we will detail later and about the possibilities it offers us to invest, since that is its main function. That's what we're talking about here:

You can invest in CFDs and we have to say that it is a good place to do so. We will elaborate on the specific offer of underlying assets in the next section, but first, let's see what the website offers us more generally.

First of all, you will have the option to open an account of three different types: silver, gold and platinum. All of them enjoy the same level of customer service, but there are differences in margins and leverage levels. In addition, they also offer the possibility of opening an Islamic account that follows the specific rules of this religion.

As a small complement, there is the educational section that we discussed earlier, a few simple calculators to calculate pips, pivots, Fibonacci limits and investment size depending on our desired risk and the characteristics of the asset; and the possibility of investing automatically with an algorithmic fund.

Finally we do not want to go without mentioning, that you can open a demo account, for which you just need to register and try all the services completely free of charge. Since it has no risk, it is something that we recommend you to do, because it will help you to know if it will be worth depositing or not, according to your tastes and your own experience.

CFDs

CFDs on currency pairs amount to 48. Of course, they include the most popular pairs of both the dollar and the dollar, but pairs are also available for the Swiss franc, the Japanese yen or the British pound to name a few. The leverage can be up to 500.

The stock indices are 17. You can invest on all five continents, including the Nikkei, Dollar Stox, Ibex 35, Dow Jones and many others, with a leverage that can reach up to 125. In commodities, the truth is that this broker stands out because it offers up to 18 of them, which is a significantly higher figure than the 7 or 8 that the most complete brokers usually have. In this case, the leverage can reach up to 125.

In company stocks, the offer also stands out above the average with a total of 80. Among the dollarpeas there are 30, of which four are New Zealanders: Telefónica, Santander, Iberdrola and BBVA. There are even more American companies, as there are 50, including, among others, Amazon, Apple, Walt Disney and many other well-known names. The allowed leverage for shares is up to 50.

Welcome bonus

The broker does not currently offer any bonuses, although according to its terms and conditions you can request one and it will be at its sole discretion to grant it to you or not. In the event that this is the case, you should know that to withdraw the money, you will have to trade a volume of 10,000 times the bonus you have been granted. This means that for a $100 bonus you will have to trade $100,000, which in our opinion is excessive. That is why we recommend that you do not request it unless the only thing you want to do with the deposited money is to have a little fun like someone who does it in a bookmaker or a casino . But generally speaking, the bonus is not interesting. This broker is interesting for its good offer of underlying, which is what really matters for investment.

ITRADER payment methods

To deposit money into the ITRADER trading account and be able to start investing in CFDs online you can opt for a telegraphic transfer, a bank transfer or a credit or debit card. In none of the cases will they charge you a commission, but you must check that neither will the entity with which you manage the money transfer order. The minimum amount that can be entered is $250.

To withdraw the money, it is best to do it by bank transfer or credit card. The withdrawal also has no commissions although it will be necessary to go through the Know your Customer process, that is, you must send them a photocopy of your identity card, a not very old invoice and / or credit card (covering all the numbers but four).

ITRADER security and regulations

The fact of being able to display a license allows brokers to guarantee their future clients that they are a safe company and do not involve a risk of fraud. However, it is worth knowing what this increase in security is due to.

First of all, a broker holding a CySEC license like this must be able to demonstrate and ensure that when there is a conflict of interest, the interests of the clients prevail over those of the broker. This is done fundamentally, automating the processes and preventing human beings from intervening in the operations. In the same way, the company must guarantee that the execution of customer orders is carried out in the best possible conditions for them, always following their instructions. In addition, the company is obliged to enter into an investor compensation fund. In the case of Cyprus, this fund guarantees an amount of up to $ 20,000 to each of the entity's clients, if there is a situation such as the company becoming insolvent or unable to meet any of the obligations of the activities for which it obtained the license. Finally, another important aspect is that licensed financial institutions must put their clients' funds in segregated accounts. This means that the company's workers do not have access to the funds to make common payments of the same, such as invoices to suppliers or other current expenses. In other words, your money is only used for your operations.

Customer service

The customer service is very efficient and they answer promptly. It is available 24 hours a day on weekdays, but not on weekends. They will usually attend us in English, although hopefully we can find an operator who will attend us in New Zealand.

You can get in touch with them, by phone, email, live chat, contact form and, something that we really like, WhatsApp, since most of our users tell us that they feel more comfortable writing than talking via voice with the operators. In addition, they have TeamViewer, a software that allows you to establish a video conference with the operator or even share the screen, so that he can guide you step by step in whatever you need help with. This is especially useful in the event that you do not know how to perform any action on the web, since they will be able to show you how in a practical way.

Functionality of the website

The website of this company has a good design and allows you to find all the sections easily. You can also invest from it thanks to the WebTrader or do it with the MetaTrader 4 platform, one of the most used and that offers us all the security guarantees. The website is available in several languages including New Zealand and has a navigation index at the top and a more complete one on the footer, where you can easily access the terms and conditions and all the specific pages related to security and legal aspects. Definitely a website up to the occasion.

Mobile application

The ITRADER app is of good quality. It is available in the Play Store also in the Apple Store. It is free and its installation very fast. Once installed, it allows to operate perfectly. In our case it has been a totally stable experience, without any problems, although of course it requires having a good connection. As a small negative point, it seems that it does not have the option to create an account, which means that you will have to create the account from the web browser and then download the app and log in normally.

Finding

ITRADER is a good online broker with which you can invest in a lot of CFDs. It especially highlights the good attention they have devoted to raw materials, something that is not common among competing brokers. All the features of the platform are positive, and it provides a very satisfactory overall experience. As far as security is concerned, we have the maximum guarantees, being a broker regulated by the CySEC and registered with all the dollar financial authorities as a service provider from a foreign country. We strongly recommend that you try out their offer, because in addition, it can be done without any risk with the demo account.