The benefit of the MT4 platform is the support offered by the automated trading solutions, but there is a nice price attached to the most effective ones. The library contains an expansive range of EA’s and other tools, but (more buts) be cautious. In this review, we will discuss why iTrader’s license was suspended, and delve into its past.
This broker highlights the need for beginners to understand the ABCs of forex trading. To start, iTrader has an unusually distressing past in the forex industry, and it’s CySEC license was temporarily suspended due to false advertising. Surprisingly, the broker offers an extension selection of cryptocurrencies. There are also commodity CFDs, but equity CFDs are commercial companies in the EU and the U.S., with a sprinkle of some in Australian companies, while index CFDs have a good selection to start. When looking for the best forex broker for your needs, make sure you have a good grasp on spreads and commissions, first.
- I don’t know if they are doing anything illegal but they are definitely borderline criminal.
- In this case, the broker could have offered some free upgrades, but the fact is, it doesn’t, showing as another example of the broker making claims that it can’t substantiate.
- Clients can contact support either by calling or sending an e-mail.
- The Taxation and Economics Prosecutor’s Office suspected the broker of misleading clients, again, and exploiting customer’s inexperience with binary’s options, pressuring them to invest.
- The education center was good, they conduct great webinars almost twice or thrice a month.
The research section is broken down into four categories, somewhat scattered across the website. It consists of an economic calendar, financial calculators, a market summary and a daily review. The first three returned blank pages at the time of this ITRADER review, the latter appears to be a brand-new addition started on November 11th 2019 and is updated daily, but none of the videos are playing. Unfortunately, there is no dedicated research section which suggests this is not something taken seriously by ITRADER. When it comes to equity CFDs, the choice is limited to the major US and European names with a few Australian companies listed.
When does a margin call take place at ITRADER?
In favour of the broker, it mentioned that it has sales experience, which comes through, slightly, we suppose. I lost 6k and would like to know whether I can report iTrader as scammers. Once you sign up they immediately start hassling you on the phone- pretty aggressive too.
This is further supported by the abnormally high loss rate listed at over 81.65%; other brokers range between 65% and 75%. Since services offered by ITRADER are severely limited, it is no surprise that customer support is limited as well. Support hours are listed as Monday through Friday, 7 am to 7 pm GMT; most brokers offer 24/5 support, and this is not even close. Clients can contact support either by calling or sending an e-mail. An available FAQ section follows the same disappointing execution this review grew accustomed to, some questions are answered in one word or a short sentence.
I cannot speak highly enough of the company and the way in which it deals with its clients.I am looking forward to my future trading sucesses. I can very honestly stand by my 5 star review as I feel that it is well earned. Webinars are offered several times per week which is a considerable frequency, it remains unclear if all traders have access to them as the information provided on different parts of the ITRADER website was conflicting. There is no library present to consider expired webinars so the quality of it is unknown.
After a week if this i’d had enough and asked to close the account.That went through ok until I found out that I’ve only got back £158. ITrader has taken £42 for the privilege of harassing me.Never again will I be scammed. As for the minimum deposit requirement, Global.ITRADER asks its clients to deposit no less than 250 US dollars to their account. As far as we are concerned, this is a perfectly healthy amount for a Forex brokerage – not too high and not suspiciously low. Therefore, both experienced and beginner traders can make use of the Global.ITRADER platform without spending too much money. However, due to my inexperience, I unfortunately quickly found myself in difficulty and decided to end trading.
If these measures are not followed, the broker will face possible fines and/or the revocation of its license. This is a scamcompany, who’s only wants your money, they are ruth and the force you to spent all your money. They keep calling constantly from different numbers so that I can’t even block they should understand I don’t want it when I never answer but they just keep calling and I keep blocking. Due to the numbers always being different I can no longer answer calls from others because I have to look up the numbers to see if it’s this business. Bayline Trading Limited itself is a subsidiary entity of Bayline World Global LTD, which is registered in Edinburgh, UK, and is licensed by the Financial Conduct Authority (FCA).
Final Global.ITRADER rating – should you do business with it?
This way we can understand that this broker is open to receive criticism on its services, while its core task is to design outstanding value for the traders. Live Chat is available itrader review plus Global.ITRADER operators are ready to sort out your doubts via phone and email. With these trading platforms come various tools that complement the overall experience.
Besides lots of currency pair,
ITRADER also offers some instruments you would like to trade on, such as
Forex, Gold & silver, Stocks, Indexes and Crypto for your best choice. Somehow, remember that different instrument
has different trading conditions. In this case, you have to make sure that your strategy is well
suited for the instrument you chose.
There are too many things wrong at ITRADER which makes this broker a hard pass. This review started with skepticism in regards to the owner of ITRADER, Hoch Capital LTD. Given the transparency when it comes to the documentation provided, there was hope that this broker may be on the right track to offer an alternative for traders to consider.
The very first point of contact between the broker and its client is the website. The users go to the website in order to find out more about the broker’s offerings, its license, and all sorts of other stuff. Therefore, it is absolutely essential to have the website as polished and streamlined as possible. For one thing, the market fluctuations can just as easily make someone rich or put them in a dire financial situation. But market fluctuations aren’t the only threatening facets of trading Forex, stocks, or other securities.
The educational section consists of webinars, eBooks, a VOD section, courses, tutorials, and articles. A glossary is also available which lists the key trading terminology. All educational content enjoys its dedicated location on the website as ITRADER appears to have placed a more concentrated effort on education than research.
This has been corrected through the creation of third-party add-ons, which are available at a price; it would have been extremely appreciated if ITRADER would have gone the extra mile and offered some upgrades free to its traders. This is another example of a broker making big claims and failing to deliver. ITRADER offers the MT4 trading platform, an out-of-the-box solution that lacks the required upgrades to improve the trading environment for its clients. This starkly contradicts with the previous claim by this broker that its customers are their most valuable asset. The MT4 trading platform is available as a downloadable version, a web version, and a mobile version; this is the standard package of a license to offer the platform. To be fair, ITARDER did mention it had plenty of sales experience, and it shows to a fractional degree in their presentation.
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. On the “Account Types” page, a VPS service is listed, but ITRADER doesn’t provide details about it or even mentions it anywhere on their website. There may be unlisted requirements for the account upgrade from Silver to Gold, and from Gold to Platinum, but they should be communicated. ITRADER represents the brand name of Hoch Capital LTD, a Cyprus-based investment firm, which received its CySEC authorization in 2013.
He proceeded to argue the fact that VW and Apple had bad reviews and became quite agresive, he became even more aggressive when I disagreed and said that Apple and VW had thousands of good reviews. Extremely rude can see exactly why they have such terrible reviews, my advice stay away from this company. Unfortunately, this is where the positives end and they are outnumbered by negatives and red flags which confirm the initial skepticism. If this brokerage is run by individuals skilled in web-commerce and finance, these skills are not wholly obvious. Most services offered return a blank page and there is no excuse for that.