iTrader Review Is it a Scam or Legit Forex Broker ️

The mobile trading platform has the same features as the PC version and it supports both Forex and CFDs trading. The MT4 is a powerful trading platform available in 37 different languages. The trading platform has dozens of technical indicator tools, multiple chart layouts, chart customization tools, news feed, and reports tools. The MT4 is a common platform among many online brokers and is known to sit well with newbie traders and experienced traders.

In the trading section of Itrader you can learn all the details about the financial products it has to offer. Itrader has extensive experience in online Forex trading with a strong international reputation. It has a stable base of users around the world who are willing to invest in its products, such as indices, shares or Bitcoins.

On the plus side, a good commodities selection offers a combination of hard and soft commodities with all major metals available. Customize the platform with unique tools to elevate your trading skills. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness.

ITRADER Regulatory Warnings And Announcements

It is a safe broker where you can apply your strategies with peace of mind to succeed in your investments. With a powerful network of thousands of food and beverage trading partners, iTradeNetwork has been the leader in perishables supply chain management for 20 years. We know from experience what features you need from the job management software for tradesman you use, so we’ve built it from scratch the way you need it. Whatever your investing for, Scotia iTRADE offers an account that will meet – and often exceed – your expectations. Discover Canada’s first sustainable investing tools for direct investors.

These fines led to the Italian regulator, CONSOB, blocking access to Hoch Capital’s brokers iTrader and TradeATF from within the country. Today, the prohibition remains in effect, with their statement reading that it will stay in place until they believe Hoch Capital has amended the issues raised by Italian consumers in complaints to the regulator. Given how much the broker’s status has degraded since that time, it seems unlikely that they will ever reinstate access. Even before their FCA ban, the broker had faced corrective actions from CySEC. In February 2018, they received a fine of €30,000 from their regulator for non-compliance with a directive on the professional competence of investment firms.

Three account types are available at https://forex-reviews.org/, but here’s where the lack of experience of this broker is plainly evident. The Silver, Gold, and Platinum account types differ with the spreads offered. There may be unlisted requirements for the account upgrade from Silver to Gold, and from Gold to Platinum, but they should be communicated. Their website platform is average, their range of trading instruments are ordinary, the language options are only four, and several of its services seem to be average except for its education section.

• ScamBroker.com is a broker reviews website, and does not offer any investing advice or service.
• The way services are tailored is backward; what should be geared towards retail traders is unavailable to them, while services offered to professionals should be provided to retail traders.
• Another misstep remains the listing of maximum leverage for professional clients, when the majority of traders if not all, will fall under the retail category.
• Full commission charges apply for each partial fill except when transacted on the same business day.
• Extended-Hours trades executed through the Scotia iTRADE website are charged the equity commissions set out in the pricing tier + ECN Fee of $0.005 per share.
• The information requested is no different from that requested by other online brokers.

Where this time frame lapses, the funds will be returned to the client via bank wire. Itrader is a completely secure and reliable broker that operates under the European rules governing the trading market. It also complies with all the requirements of the regulatory bodies in which it is registered. It will also offer you numerous management tools and trading strategies to make your experience comfortable. With access to useful charts, market alerts, calculators and market summaries. It has also developed an exclusive platform called Webtrader that has all the features of Meta Trader but in web format.

Gold Cap (Alpha Reward)

Account openings are conducted through an online application form, which is standard for all online Forex brokers. Potential clients are required to fill out basic information, which at ITRADER consists of the name, e-mail, phone number, and password only. This should grant access to the back-office where a copy of the trader’s ID and one document to proof residency should be required as mandated by the regulator; this is a necessary step to satisfy KYC/AML requirements. ITRADER is regulated by CySEC, but potential traders should think twice before submitting personal details to a brokerage which has shown as many issues as this review has uncovered. When something isn’t appropriate at a broker, it is better to stay away and not expose yourself and your money to unnecessary risks. Since services offered by ITRADER are severely limited, it is no surprise that customer support is limited as well.

The new mobile app was actually good, great features and improved reliability and speed. The MetaTrader 4 platform update will be released on Friday, July 23, 2021. This version provides error fixes and platform stability improvements. The MetaTrader 4 platform update will be released on Thursday, October 14, 2021. On December 11th, 2020, the financial regulator announced that they had settled with Hoch Capital Ltd during the previous month. The possible violations occurred during the period from January 2018 to April 2020.

Should I Open An Account With ITRADER?

Many former clients complained of withdrawal delays, and the broker themselves say that withdrawals can take up to seven working days, significantly longer than with comparable brokers. The platform also features a library of premium automated trading tools, some free and some that come at an additional cost. Traders from all around the world can make use of this platform, with multiple languages available. During the board meeting on July 6th, 2020, CySEC approved the broker’s request to renounce their Cyprus Investment Firm authorization. Rather than implement the changes necessary to meet CySEC regulations, the broker decided to abandon their CySEC registration.

Based on your location, one of our other licensed companies may be better suited to you. The Cyprus Securities and Exchange Commission announces that it has reached a settlement with Cyprus Investment Firm Hoch Capital Ltd. The firm has agreed to pay €200,000 related to a compliance investigation started by the regulator. The iTrader has operated since 2012 and gained a reputation for success,…

“Hoch Capital Ltd is not permitted to provide regulated financial services to residents of the United Kingdom.” – FCA mentions, read more by the official warning link. Overall, through the years of operation, iTrader presented themselves as an active and trustable trading provider, as well has gained awards as one of the leading industry brokers. Meanwhile,iTrader is also an official online trading Partner of Manchester City Football Club in EMEA.

Scotia iTRADE U offers a wealth of free educational tools and resources including articles, videos, webinars, and the Knowledge Navigator to help you find the educational path to your direct investing goals. Our powerful trading platform lets you manage your investments from a computer or mobile device with integrated banking and trading all on one screen. The broker covers all the processing fees for deposits and withdrawals hence all transactions made on the platform are free of charge.

Payments are processed by Bayline Global World Ltd., so your deposit will be safe. Withdrawals are free of charge, as Itrader considers it sufficient to send the credit card image. But remember that only the last four numbers should be seen, the process is known as “Know Your Customer”.

It is registered with various bodies in Europe, as mentioned above, and operates under the Markets in Financial Instruments Directive regulations. With regards to withdrawals, please note that your account must be verified by Trader beforehand. It is possible to make withdrawals by credit or debit card, bank transfer, skrill or neteller. You will need to download the application to your smartphone or tablet from the App Store for Apple iOS systems or from Google Play for Android systems.

» Algumas FUNÇÕES no iTrader

Please note, a fee of $3.00 for each paper statement and $2.00 for each paper trade confirmation now applies. Receive 10 free trades in your first year and 5 free trades every year after by signing up for an Ultimate Package. Research is provided in-house, but from the very start, the lack of professionalism and attention to detail is evident. Attempts have been committed to structuring the research division which represents a worthy idea, but unfortunately, the execution is awful. Islamic accounts are available on request and are free of swap charges. The website you are visiting now is operated by Raw Trading Ltd (“IC Markets Global”), an entity that is not established in the European Union or regulated by an EU National Competent Authority.

Their asset basket is wide, including currency pairs, indices, commodities, stocks, and a hefty selection of cryptocurrencies. On June 18th, CySEC announced that two of the four companies, Magnum FX Ltd and F1Markets Ltd, had successfully implemented their required corrective measures. The regulator removed the suspension on these two, allowing them to provide investment services once again. The other two companies, Rodeler Ltd and iTrader parent company Hoch Capital Ltd, did not implement corrective measures. ITrader has recently faced catastrophic problems with financial regulators, culminating in their abandoning their CySEC license.

Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website. Always verify that your broker, is licensed by your local financial regulator. The presentation of the MT4 trading platform constitutes another critical failure that sums up what ITRADER has presented consistently.

I find Itrader responsible and professional broker, it proved it many times. Despite that Hoch Capital is CySEC regulated broker, FCA considers its trading practices and aggressive marketing promotion in the UK controversial to its MiFID obligations. The brokers used misleading marketing and promotion strategies which resulted in numerous complaints and has failed to carry out appropriate assessments of the compatibility of its products and its customers. In case of credit card deposits, iTrader will first refund all amounts up to the amount deposited through that same card. In some cases, the credit card company sets a limit on the amount of time that can pass for issuing a refund.

The brokers in question did not meet their criteria for fair, honest, and professional investment services. The statement further cited a provision on assessing the suitability of individual financial instruments for specific clients. This was likely about iTrader’s and the other brokers’ reported marketing of complex CFDs to amateur traders.

When you open a live account with itrader review you will be required to make a minimum initial deposit of $250. In addition, the account has a minimum withdrawal amount policy of $100 per application and may take up to 5 business days to process. The vast majority of companies specializing in the Forex and CFD market do not charge commission. That’s why it’s important to consult users’ opinions in order to know Itrader’s virtues and to be able to choose it among other brokers. Itrader offers free Forex related education through video on demand, tutorials, e-books and courses.

The lowest spreads as of December 2018 was for the EUR/USD which was as low as 0.7 while for the AUD/USD pair was 1.1. Compared to some of its rivals, it is fair to say that iTrader has competitive prices. The good thing about the fixed spreads is that during volatile news the spreads are static and don’t widen. The iTrader platform is built to increase accessibility to stockbrokerage services. Empower yourself with the knowledge to make more informed investment decisions whatever your current skill level – novice or experienced.