IronFX - The Leading Broker in Online Trading - Trade CFDs

ITRADER REVIEW

Overview:

The offshore-based FX and CFDs broker ITRADER has three trading accounts. The accounts are called Silver, Gold, and Platinum. The brokers provide an Islamic account to Muslim traders that enable swap-free trade. In this ITRADER review, we will investigate this broker thoroughly and find out its offers and reality.

About ITRADER:

The offshore-based FX and CFDs broker ITRADER claim its inception in early 2012. The trading assets offered are 50 FX pairs, and CFDs on several commodities, indices, stocks. It offers traders a well-established MetaTrader trading terminal. The firm called Hoch Capital Limited manages the ITRADER trademark. The brokers claim its registration at the Cyprus Securities and Exchange Commission, Cyprus. The CySEC imposes many rules and regulations on the brokerage provider in its country. These are maintenance of 7,30,000 euros, and also advises brokers to segregate trading accounts. The broker also claims to offer Investor Compensation Fund to the traders. It helps traders to avoid loss and scam. Also; all the brokerage providers under CySEC are entitled to MiFID compliance. It enables brokers to perform cross border business in the EU.
The initial investment needed to open an account with ITRADER is 250 USD. The initial deposits are according to the current market situation. However, many regulated brokers offer the same services at 5 USD.
The trade at ITRADER is commission-free. The spreads provided according to the types of accounts. The spread on the Silver account is at 2.2 pips, Gold account at 1.3 pips, and Platinum account at 0.7 pips on significant FX pair of EUUSD. The spread of 0.7 is profitable, but it requires a higher initial deposition. The offered leverages are in between 1:200 to 1:500. The provided leverages are according to the current market value but can make colossal profit or loss.
The broker offers to trade on versatile and easy to use a trading platform MetaTrader. It is available on all operating systems like iOS, Android, and Windows. MT is the top-rated trading platforms. ITRADER offers Virtual Private Server to its traders for extra security in FX and CFDs trade.
Many payment gateways manage the payment funding and withdrawal of profits. They are cards, and bank transfers are few to mention. Unfortunately, Skrill and Neteller not provided.

Is ITRADER scam or legit?

ITRADER is a regulated and licensed FX broker by CySEC. The trading conditions offered are higher. The trading platform provided is MetaTrader and is a good sign. However, offshore nature is worrisome. ITRADER may be a potential forex scam broker.
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