Lets First Go To The Bottom Line:
What iTrader brings to the table is a platform with optimal trading conditions and first rate services that would greatly give their clients a lot of advantage. The comprehensive online academy, the good selection of assets, the multi-lingual support with a wide array of messaging systems and the well-established reputation are just some of the many reasons why you should choose this brokerage for trading.
Final Score: 87/100
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The WebTrader platform design is very much the same as the standard platform layout so there’s not much of a difference. It’s organized, clutter-free and very easy to navigate. This warrants a Design score of 5/5.
The minimum deposit to open an account with this broker is $250. This is a tad higher than the requirements of most forex brokers today but this minor disadvantage is covered by the benefits that they offer. For this reason I am giving this broker a Minimum Deposit score of 3/5.
The allowed minimum lot size is 0.01 and with the capability to implement flexible order sizes, you’ll have more control over your trade positions. For this I am giving them a Minimum Trade score of 4/5.
There are over 160 tradable assets and this includes the most commonly traded currencies, commodities, indices and stocks. These are diverse enough and for this reason I am giving them a Tradable assets score of 4/5.
iTrader offers competitive spreads although Gold and Platinum account holders will be able to take advantage of the lower costs. For example, Silver, Gold and Platinum accounts can enjoy spreads of 2.2 pips, 1.3 pips and 0.7 pips, respectively for the EUR/USD currency pair. This rate warrants a Payouts score of 8/10.
Funds are processed within 2 to 3 business days. Such speed is competitively faster than what most brokers can achieve and based on the actual tests that I did, they were able to fulfill this promise. This earns a Withdrawal Time score of 9/10.
Depositing and withdrawals can be done via credit cards, 3D Secure Deposit and Bank Transfer. These are basically the most common payment systems so I am giving them a Deposit and Withdrawal Methods score of 5/5.
Getting in touch with iTrader’s support is possible via phone, fax, email, remote access via downloadable software called TeamViewer and the instant messaging platform WhatsApp. They currently do not offer a live chat feature. For this I am giving this broker a Support score of 9/10.
Their platform’s prices were derived from independent providers making them capable of providing accurate and competitive execution and our tests revealed that they are able to do so. Such speed deserves a Quote Accuracy Score of 9/10.
iTrader is operated by Hoch Capital Ltd, a company that is licensed by the Cyprus Securities and Exchange Commission and in accordance with the Markets in Financial Instruments Directive (MiFID). It’s a good indication that they abide by the regulatory conditions set by these trusted financial authorities.
Most of the comments that we found also revealed that majority of their clients are satisfied with their services particularly with the fast trade execution and their online trading academy which comes with free webinars and other educational tools. This is the reason why they received a Reputation score of 14/15.
Rather than bonuses, iTrader occasionally offers gifts to their clients and this can be in the form of electronic devices such as smartphones, laptops and the like. Their minimum trading volume requirement has a multiplier of 10,000 so if you received a gift which has a value of $800, then the computation is $800 x 10,000 resulting to a minimum trading requirement of $8,000,000. Overall, this is still achievable but if we compare them, it’s a little higher than the requirements of other brokers and this is the reason why they got a Bonus Requirements Score of 3/5.
In you are unable to meet the minimum trading volume then the value of the gift shall be deducted from your account when you make an initial withdrawal request. Such condition is fair which is why and this is the reason they received a Withdrawal Pre-Volume score of 4/5.
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Conclusion
What iTrader brings to the table is a platform with optimal trading conditions and first rate services that would greatly give their clients a lot of advantage. The comprehensive online academy, the good selection of assets, the multi-lingual support with a wide array of messaging systems and the well-established reputation are just some of the many reasons why you should choose this brokerage for trading.
Final Score: 87/100[/symple_box]