There is a lot of things that want to tell you in this iTrader review. Want to know why we consider this broker a scam? Read our full iTrader Scam Review!
ITRADER Scam Review
Opening an Account
The real trading account is opened in 3 steps. Firstly, the trader has to provide the required information to register the account. Afterward, it is needed to give data about the experience and any previous involvement in trading financial markets. However, we do not recommend to provide any personal info to iTrader scam.
When the previous steps are completed, the trader has to meet the minimum deposit requirement. The live account can be opened in 3 currencies – USD, EUR and GBP. The minimum deposit is $250 or the equivalent in other account base currencies. A practice account is offered too, which is accessible after live account setup.
We tried to find any information regarding welcome bonuses or trading promotions. The truth is that the bonus is granted only after negotiating with customer support agents. On the website, there are no Forex bonus terms and conditions.
We have detected three real trading account packages at iTrader Forex broker:
Overall, Platinum looks like the most luxurious account option. The problem is that this package leaves Silver account in an unfavorable position. For example, Silver account owners do not have a dedicated account manager, no news alerts, no access to webinars or tutorial videos and no free VPS. Additionally, only Platinum account owners can open the Islamic or Swap-Free account. This is an apparent pitfall.
Moreover, iTrader currency broker offers variable or floating spreads. Fixed spreads are generally considered better. You can see the examples of spreads on Forex majors below:
So which instruments can one trade? Basically, iTrader offers around 50 currency pairs, 18 stock indices, 17 commodities and around 100+ stocks. Maximum leverage available for FX trading is 1:500.
ITRADER Reviews: Trading Platform
The core trading platform offered on iTrader website is MT4. It comes up here with 3 versions, i.e. desktop, WebTrader and mobile apps for Android or iOS devices. iTrader allows automated trading and hedging on all the platforms.
ITRADER Deposits and Withdrawals
We should admit that transfer methods are very poor at iTrader FX broker, e.g. e-wallets are not supported. Either to deposit or withdraw funds, the trader can use one of the following options:
To become eligible for withdrawals, it is required to provide a copy of ID and document of residence.
iTrader scam is registered in Limassol, Cyprus. The firm has obtained a license from CySEC. Considering many negative iTrader opinions, we advise avoiding this Forex broker.