ITRADER Review

Professional platforms

Pros

  • Good education
  • Professional trading platforms
  • MetaTrader 4 application

Cons

  • Higher spreads for beginners

Introduction

ITRADER was established in 2012 in Cyprus and is managed by Hoch Capital Ltd. It is a large international forex and CFD broker that is known for its reliability and wide range of different services. ITRADER offers a wide range of educational resources, but is this broker suitable for starting investors due to the high spreads for beginners?

Target audience

Despite the large range of education, this broker may be less suitable for beginners due to the high spreads in a beginner's account. This broker can be an interesting choice for experienced investors because of the lower spreads (when trading with large volumes) and the advanced trading platforms.

Is ITRADER reliable?

Hoch Capital Ltd. operates under CySEC and has a MiFID passport to offer CFDs in Europe. The customer accounts are managed at a separate custody company, so that customers' assets are not lost in the event of bankruptcy. Due to the international regulations that ITRADER falls under, you can regard this broker as completely reliable.

Trading instruments

The number of trading instruments is small with around 280 different trade assets in CFDs. You can invest in forex, cryptocurrencies, indices, stocks and commodities. ETF tading is not available with ITRADER.

Trading platform

There are 3 different trading platforms at ITRADER:

  • WebTrader which is experienced as pleasant by many people. The key features are live analysis and charts, Visual Trends and Trading Cubes to speed trading up by showing what you want to see such as the lot sizes, prices, and assets.
  • MetaTrader 4 with Indicators and Charting. Popular indicators and charting tools have already been preloaded into MetaTrader, therefore making your analysis accurate and quick. Additionally, you can also load custom designed indicators and Expert Advisors which will allow for automated trading.
  • Mobile App where you can easily trade on the move. Tools such as take profit, stop loss and pending orders are provided.

You can open an account after a minimum deposit of £250. There are 3 different trade accounts with ITRADER:

  • Silver
  • Gold
  • Platinum

With a silver account you have higher spreads and a lower maximum leverage. In the platinum account you have the lowest possible spread and the highest possible leverage. If you want to upgrade your silver account, you can contact your relationship manager. Often you have to make extra deposits before you get upgraded.

In addition to the advanced trading platform, you also have good customer service and excellent educational resources. You have access to e-books, videos, tutorials, courses, articles and webinars.

Spreads

With ITRADER, the spreads vary per trade account. The spread is the difference between the purchase price and the selling price. For example, if the purchase price of Shell is 21.44 and the sale price is 21.40, then the spread is 0.04. The lower the spread, the better. In the silver account the spreads start from 2.2 pips. In the gold account this is around 1.5 pips and in the platinum account the spreads are fairly low and begin around 0.7 pips.

Demo account

Learn to use the ITRADER trading platform with help of the demo mode. Practice trading with forex and CFDs until you are ready for the real thing and then switch easily.

In short

Due to the high spreads and limited leverage on silver accounts, the broker is less attractive for the novice trader. Thanks to the wide range of education available, starting investors can make a good start on the demo mode. ITRADER is therefore more suitable for experienced investors. In a platinum account you have relatively low spreads, and the trading platform has various functions.

itradervergelijker

£250Minimum deposit
  •     Good education
        Advanced platforms
        MetaTrader 4
        High spreads for beginners
  •    Active investors

    10,000

  •    Reliability

  •    Trading platform

  •    MetaTrader 4

  •    MetaTrader 5

  •    Social platform

  •    Suitable for:

    Allround/experienced trader

  •    Functions platform

    Professional

  •    Mobile app

  •    Tradable assets

    280

  •    Spreads

    High for beginners

  •    Spread EUR/USD

    2.2 - 0.7

  •    Stocks

    161

  •    Forex

    51 pairs

  •    Cryptocurrencies

    33

  •    Commodities

    17

  •    Indices

    20

  •    ETFs

  •    Loss-making investors

    82%

  •    Customer service

  •    Education

  •    Usability

  •    Inactivity fee

    £80 PM after 2 months

  •     Bank transfer

  •     Credit card

  •     Skrill

  •     PayPal

Enable desktop mode for a better visibility of the comparison tables.

emptyvergelijker

  •    Pros and cons
  •    Active investors
  •    Reliability
  •    Trading platform
  •          MetaTrader 4
  •          MetaTrader 5
  •          Social platform
  •          Suitable for:
  •          Functions
  •    Demo account
  •    Mobile app
  •    Spreads
  •    Spread EUR/USD*
  •    Tradable assets
  •    Stocks
  •    Forex
  •    Cryptocurrencies
  •    Commodities
  •    Indices
  •    ETFs
  •    Loss-making investors
  •    Customer service
  •    Education
  •    Usability
  •    Inactivity fee
  •     Bank transfer
  •     Credit card
  •     Skrill
  •     PayPal

plus500logof

£100Minimum deposit
  •     Very user-friendly
        Competitive spreads
        No MetaTrader platform
        Fewer analysis tools
  • 110,000
  • Experienced investor
  • Average
  • Low
  • 0.6
  • 2000
  • 1900
  • 50 pairs
  • 14
  • 22
  • 30
  • 95
  • 76.4%
  • £10 PQ after 3 months

itradervergelijker

£250Minimum deposit
  •     Good education
        Advanced platforms
        MetaTrader 4
        High beginners spreads
  • 10,000
  • Experienced/allround investor
  • Professional
  • High for beginners
  • 2.2
  • 280
  • 161
  • 51 pairs
  • 33
  • 17
  • 20
  • 82%
  • £80 PM after 2 months

etorovergelijker

£200Minimum deposit
  •     Social trading platform
        Copy professionals
        No MetaTrader platform
        High spreads on crypto
  • 400,000
  • Allround investor
  • Average
  • Average
  • 3
  • 1200
  • 1000
  • 47 pairs
  • 92
  • 13
  • 13
  • 21
  • 75%
  • £10 PM after 1 year

marketsxlogo

£100Minimum deposit
  •     Excellent platform
        Low spreads
        Traders Trends
        High trading fee
  • Unknown
  • Active investor
  • Professional
  • Low
  • 0.5
  • 2200
  • 2000
  • 57 pairs
  • 6
  • 25
  • 33
  • 54
  • 81%
  • £10 PM after 3 months

*This was the spread on 1/1/2020

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.