ITRADER is an online multi-asset broker based in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Offering a range of financial instruments, this broker is an ideal choice for traders who want to access a variety of assets and diversify their portfolio, but is it the best stock broker for you? Our broker comparison will take a detailed look at what ITRADER stock trading has to offer, but in short, here are some of the key features of the company:
- Fully regulated
- Good range of instruments
- Choice of trading platforms
- Excellent educational resources
1.) Stock Trading Offer: Trade a wide range of instruments
An ITRADER brokerage account allows customers to easily buy and sell a wide range of financial instruments, including stocks, indices, commodities and forex. Trading in CFDs is available, and the range of assets is vast. With hundreds of stocks to choose from, across Europe, the US and Australia, as well as all the major indices, a range of commodities, over 50 forex pairs, and cryptocurrencies as well, there is plenty to keep the active trader busy, no matter what type of trading you are interested in. Signing up for an account is easy, with a choice of three different account types. The Silver account offers leverage of up to 1:20 on stock trading, typical spreads on the EUR/USD at 2.2 pips, multilingual customer support, and same-day withdrawals. The Gold account offers all that, but also features lower spreads, leverage of up to 1:40 on stocks, a swap discount fee and a dedicated account manager. The Platinum account gets the lowest spread of around 0.7 pips on the EUR/USD, leverage of up to 1:50 on stock trading, a swap fee discount of 50%, access to news alerts and a free VPS. ITRADER also offer Islamic accounts (at all three tiers) and a demo account for 14 days, available to all traders.
- Excellent range of stocks and other instruments
- Three customised account types to suit all levels of traders
- 14-day demo account
2.) Stock Exchanges and Trading Centres: Easy access to international markets
ITRADER offers a full, multi-asset service for trading CFDs on the world’s leading commodities while also allowing clients access to international indices, as well as stocks and shares in a wide variety of enterprises in both local and international markets. Operating on a global level, the broker provides continuous access to enable clients to trade from anywhere in the world on international exchanges. Stocks in companies across the US, Europe and the rest of the world are tradable, either as single stocks or via indices. Indices available include the FTSE 100, S&P 500, Wilshire 5000, DOW 30, NASDAQ 100 and Hong Kong 50. ITRADER provides a brokerage department that runs the dealing room, actively monitoring markets throughout the trading day to provide information on every event that may affect the day’s trades. Customers can access the dealing room to ask questions about transactions, opening and closing deals, and risk management strategies.
- Provides a global multi-asset service
- Can trade in single stocks or a range of international indices
- Dealing room available
3.) Trading Conditions: Competitive fees and costs
There is one important question that all new customers will have, of course: is ITRADER good value, and how does it compare to other brokers? Readers will be happy to hear that fees and costs are competitive, and there are few hidden charges. As with most brokers, ITRADER does not charge trading or transaction fees as such on CFD trading, but takes the profit from the spreads, which is simply the difference between the buy price and the sell price of the financial instrument you are trading. Therefore, the price you see is the price you will pay (or receive), always allowing for any slippage. Spreads are dynamic and will vary according to the instruments being traded and the type of account you have opened. There are no withdrawal or deposit fees levied by the broker, and there are few extra fees in general. The broker does charge a rollover fee if a spot transaction is not closed by the client by 9.00pm GMT on the business day it was entered into. There is also a monthly inactivity fee on dormant accounts. The broker provides clients with monthly reports detailing all costs and charges incurred by the client.
- Easy account set-up with choice of accounts
- No transaction fees for CFDs, and competitive spreads
- Rollover fee and inactivity fee may apply
4.) Stock Trading Platform: ITRADER has a range of platforms
ITRADER offers a few different platforms to suit the needs of its varied customers. The WebTrader platform is web-based and offers easy trading from any device, using any compatible web browser. It incorporates live analysis, charting tools, trading cubes and visual trends, and also allows traders to start with a demo account (valid for two weeks) so that they can find their way around the platform and explore what it has to offer. If you’re one of the many stock traders out there who are already addicted to the award-winning MetaTrader 4 platform, then you will find that this also works with ITRADER. As MT4 traders will already know, this software can be downloaded for PC or Mac, and comes with an easy interface, trading signals, technical indicators and charting tools. ITRADER also provides easy mobile trading via a well-designed mobile app for those who prefer it, but it’s worth remembering that the WebTrader platform allows access via browser from any device, so the app may not be necessary for many traders. ITRADER clients also have access to a range of useful trading tools, including an economic calendar, calculators and market summary.
- WebTrader and MT4 platforms available
- Mobile trading easy via the app or from your browser
- Useful indicators, charting tools and other trading tools easily accessible
5.) Usability of the Website: Attractive and functional
- Attractive design
- Easy to navigate
- Legal information clearly displayed
6.) Customer Support: Room for improvement
ITRADER provides multilingual customer support via email, phone, contact form or live chat. There is a toll-free number provided, though it is worth double-checking that it will be free from your country if calling internationally. Customer support is available Monday to Friday from 6.00am to 7.00pm, though email, contact form entries and social media messages can, of course, be submitted at any time. As mentioned above, the website incorporates a set of contact buttons that float at the side of most pages, allowing for quick and easy contact via email, live chat or Facebook. Support staff respond quickly to messages and are polite and professional. In addition, there is a very extensive customer FAQs page, offering answers to a long list of common questions and customer queries. You will find it in the drop-down menu under the education section. Answers here are brief and to the point, and sometimes you are given a simple yes or no answer and advised to contact your broker for more details, so it is not as helpful as it could be, but is still a good first stop if you have questions. We also noted that there is no search function on the FAQs page.
- Live chat, phone and email options available
- Support is responsive, but is not available 24/7
- Extensive FAQs page, but answers are not very detailed and it is not searchable
7.) Methods of Payment: Bank transfers or card payments
Making your first deposit is easy. Simply log into your account and select the “Deposit Funds” button on the side menu. ITRADER has different methods of deposit and withdrawal available for its clients, which will depend on your country of residence, but will include major credit and debit cards, bank transfers and some third-party e-wallet options such as Neteller. Withdrawals are processed within one working day but may take longer to actually show on your account, especially with bank transfers. There is a minimum withdrawal limit of $100, and no withdrawals can be processed until the client has completed all verifications. It is also necessary to provide full details about the method used to deposit when making a withdrawal. This can include, for example, your IBAN number or bank reference for bank transfers, and credit card details for credit card withdrawals. There are no withdrawal or deposit fees levied by the broker, though it is always advisable to check if your bank or card company is likely to impose charges on these types of transfers.
- Range of payment methods
- No deposit or withdrawal fees
- Verifications and document submissions must be completed before withdrawing funds
8.) Additional Offers: Education, training and demo accounts
ITRADER offers a range of benefits, depending on the type of account you have. Platinum accounts have access to a free VPS, and both Gold and Platinum account holders have access to a dedicated account manager, and free webinars and training videos. There is a free demo account available for all new account holders who want to familiarise themselves with the WebTrader platform, though this is only available for two weeks from the date of account opening. ITRADER stock trading does have an extensive education section, which can be accessed by all account holders. It includes eBooks, online courses, MetaTrader tutorials, and a Video On Demand (VOD) library with a wide range of free training videos. Education is aimed at traders at all levels, covering beginners’ topics up to quite advanced strategies. Courses cover trading tools, trading strategies, CFDs and stocks, and ECN. There is a comprehensive glossary of trading terms, and a huge archive of articles on trading and investing. The education section is also where you will find the customer FAQs. Additionally, the broker provides a news section, highlighting important developments that affect the markets, and posting daily reviews, in the form of a short video covering the day’s financial news.
- Extensive education section and daily news updates
- Various perks for premium account holders
- Free demo account, with restrictions
9.) Regulation & Deposit Protection: Fully regulated under CySEC
ITRADER is a branded trading company, operated by Hoch Capital Ltd, a leading online broker, which is fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker is a member of the Investor Compensation Fund (ICF) for the clients of Cyprus Investment Firms. This means that all retail customers are covered under the ICF, though different terms apply to professional accounts. ITRADER is committed to keeping customer assets safe and protected, storing all customer funds in segregated accounts, meaning that in the event of insolvency, client funds should be protected as the personal assets of the broker’s clients, rather than treated as recoverable assets owned by the company itself. To further protect clients, ITRADER carefully stores all customer data and sensitive information, using highly sophisticated firewalls and Secure Sockets Layer (SSL) encryption to encrypt and protect all data transmitted across the site. Trading servers are operated from SAS 70 certified server centres, and transactions are moderated by Level 1 PCE compliance services.
- Fully licensed and regulated by CySEC
- Client funds kept in segregated accounts
- Compensation for retail account holders provided via the ICF
10.) Awards: Uses the award-winning MetaTrader 4 platform
No stock broker comparison review is complete without a quick look at where the company is ahead of its peers and competitors, and a good general indication of this is the awards it has won. As a relatively young brokerage, it is unsurprising that ITRADER has not yet had the time and opportunity to win awards from the trade press. It has, however, made sure to offer the award-winning MetaTrader 4 platform. The MT4 platform is well known and highly respected by traders worldwide, and has won numerous awards in the past, including the Best Multi Asset Trading Platform at the Finance Magnate London Summit Awards in 2016. The broker has also received positive reviews from both independent broker review sites and in customer polls. Asset Magnate recently gave ITRADER a four-star rating in its ITRADER brokerage review, and FX Empire currently displays a 4.5-star rating for the broker, based on independent user reviews.
- Relatively young company, so has not had time to accrue awards
- Uses the award-winning MT4 platform
- Has received positive reviews from broker comparison sites and users
Conclusion: Our verdict on ITRADER stock trading
As our ITRADER brokerage review has demonstrated, ITRADER offers a solid option for those who want to invest in stocks and shares, and is suitable for traders at all levels. Three account levels provide something for everyone, and the sign-up process is quick and easy. The website, trading platforms and mobile app are all very user-friendly, and MT4 traders can benefit from trading on a platform that they are already familiar with. There is a demo account available to test out the WebTrader platform, though you only get two weeks to experiment with this. Security is of a high level, with best practices followed regarding encryption, storage of customer assets, and compensation procedures. ITRADER certainly has plenty to offer international traders. Why not visit the site and find out more?