ITrader Review 2020: ITRADER is an international forex and CFDs broker that satisfies the needs of the retail traders worldwide. Operating on a global scale, this online trading service provider offers high-quality services that include a wide variety of products from different types of markets such as:
- Forex currency pairs
This diversity of assets helps to fit the needs required by the different type of traders and investors out there because depending on the trading style (day trading or swing trading) is possible to find competitive conditions (spreads, leverage, and platforms) that provide an edge when it’s time to trade.
· Is ITRADER Safe?
In terms of its reputation, ITRADER is regulated and supervised under the norms of the Belize International Financial Commission (IFSC) under the license number 60/322/TS/19, the commission has to follow the guidelines of the MiFID (Markets in Financial Instruments Directive) and ESMA (European Securities and Market Authority), credentials that support the name of ITRADER as a brand.
So, as a general overview, ITRADER is a good broker with an interesting portfolio of products and controlled under well-known regulation institutions, however, to have a deeper understanding about what this well-regulated forex broker has to offer, below are listed some of the main characteristics that differentiate this broker from the other competitors of the industry.
· Financial Regulation
ITRADER is the commercial name of the broker, however, the company that “owns” the name is Bayline Trading regulated by Belize (IFC) under the license number 60/322/TS/19, here is the link where the information can be found.
Additionally, this forex broker can offer its services to all the 28 EU member states and countries outside the EU including Qatar, Switzerland, Ukraine, United Arab Emirates, or Malaysia to name a few.
· What Types of Trading Accounts ITRADER Offers?
ITRADER offers 3 types of trading accounts: Silver, Gold, and Platinum the differences among them focus on 3 aspects:
- And services
On this subject, ITRADER offers different types of spread schemes that might be suitable for different types of investors’ profiles. For example, if a trader tends to trade short term from 1m to 15m is advisable to trade with assets that have a tighter spread because in that sense the entry and exit price wouldn’t be so “punished”.
But on the other hand, if a trader has a swing trading profile a wider spread might be not so crucial for its methodology and successful execution; so, based on this type of needs ITRADER offers different types of solutions illustrated below.
Nowadays, leverage is one of the most crucial factors to analyze when choosing the right broker because it helps to trade bigger sizes with smaller amounts of capital, especially for those investors who are undercapitalized and want to participate in the movement of the markets.
However, is important to understand that leverage can exponentially increase your wins when you are right, but it also can exponentially increase your losses when you are wrong. Therefore, this subject is critical that each investor understands the risks and benefits of having higher leverage and choose the one that fits their risk management parameters.
Notwithstanding, as stated in the previous point ITRADER offers a variety of leverage (*for professional clients only) so it can suit the requirements of the trader, below are illustrated the leverage conditions for each type of account.
In this item, ITRADER offers a wide variety of services that can give the investor an edge because of the tools provided by the broker help to make informed decisions before any commitment to the market.
Some interesting features are hedging, dedicated account manager, educational resources as webinars and videos and full 10-hour support.
Additionally, to the 3 types of accounts, there is also the Islamic Account which is free of commissions and overnight interests following the Islamic sharia law. This account includes:
- Dedicated account manager
- No hidden commissions or fees of any kind
In order to open this account is needed that the client communicates directly with the account manager to find out more information.
· What Trading Platforms ITRADER Offers?
In this matter, ITRADER offers a variety of trading platforms, which are suitable for all trading profiles and created based on the client´s needs, they mainly have 3 options available:
- MetaTrader 4 (MT4)
- Mobile Trading
MetaTrader 4 (MT4):
One of the most popular trading platforms in the trading industry, used by beginners and professional traders all around the globe, its popularity came as a result of being a platform with powerful tools that boost your analysis to the next level.
Some of the main features are related to the ability to analyze prices with ease, manage and place the trades directly from the chart, which creates a friendly user environment and the wide variety of the most popular trading indicators used by season veteran traders
Note: Available for Windows and Mac
WEB TRADER PLATFORM:
Through the web trader platform, the investors can access their trading account directly from any device with a safe internet connection and a browser; the platform counts with interesting features such as:
- Detailed information of the trades from a visually perspective represented directly in the chart.
- A visual trend is a tool that helps the trader to visualize the market conditions of a given asset at a certain point in time in conjunction with the major market trends.
- Trading Cubes help the investors have a “shortcut” for their preferred trading assets and set up´s to make the trading process easier and quicker.
ITRADER Mobile Trading App
With the ITRADER mobile app, available in Google Play and the App store, the investors can access their accounts through their smartphone, tablet or iPad. The app allows the traders to monitor the investments, open trades and in general managing the account as an overall.
The flexibility of this app allows the users to stay in tune with the market and take advantage of the market shifts at any time. The mobile App comes with a user-friendly interface and it’s intuitive.
· ITRADER Products and Markets
As stated at the beginning of the review one of the main advantages that comes trading with a reputable forex broker is its wide variety of products and markets, in general terms, it has 5 markets to offer:
The currency pairs are one of the most popular trading instruments because they offer 24/5 trading, high leverage, and fast order execution. A trading account with this forex broker will give you access to a total of 50 currency pairs including major, minor and exotic pairs. The next image below shows some of the most popular currency pairs.
The main advantage of trading cryptocurrency CFDs is the ability to go both long and short, have zero commissions, lower spreads and a leverage of 1:2. Cryptocurrency traders can also have access to a wide selection of coins (33 crypto pairs) compared to what other forex brokers have to offer.
In this item, the traders have the opportunity to participate in the action of several markets from all around the world, such as indices from America, Europe, and Asia. Retail traders have the opportunity to trade with 20 major indices.
Commodity trading is done through CFD´s products where the investors can trade with metals, agricultural and energy assets (17 assets in total).
Investors can buy and sell stocks from all around the world. With a live account you can have access to the largest stock exchanges of every continent. The trading is done through CFD´s (Contracts for Difference); you can trade up to 176 stocks from US (101), Europe (69) and Australia (6). The figure below highlights some of the markets and assets that can be traded.
· Trading Academy
ITRADER customers can have access to educational resources that are designed to equip beginner traders with all the knowledge to start trading on the foreign exchange market.
The online academic centre includes a wide range of online trading materials:
- eBooks (total of 4 eBooks)
- Video on Demand V.O.D.
- Economic Calendar
· ITRADER Review – Final Words
One of the main words that come out when ITRADER is named maybe is flexibility because they offer a wide variety of products that cover some of the most important markets all around the world (Stocks, indices, crypts, commodities, and Forex), allowing the investors to diversify their portfolios and align their trading style with the market of their preference.
Additionally, the range of trading accounts with different parameters of spreads, leverage, and services allows the traders to choose the one that fits their trading strategy appropriately. Also, the trading platform solutions given by the EU-based forex broker gives the trust needed to work with top tech when it’s time to trade.
And finally, the fact that is regulated by the Belize IFSC and is regulated under the norms of MiFID and ESMA are credentials that make this brokerage trading firm fully regulated and with a good reputation.
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