It is a secure broker that, being regulated by the Belizean authorities, is obliged to comply with MiFID standards. 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.
Rather than implement the changes necessary to meet CySEC regulations, the broker decided to abandon their CySEC registration. Without this registration, the broker now has no authorization to offer financial services within Cyprus or the wider European Economic Area. This ban set a precedent, no financial regulator within the EU had ever rescinded passporting rights before this. European Economic Area agreements allow for brokers registered with a financial regulator in one country to offer services to all countries within the agreement. The FCA ban was the first to take action against specific brokers from another financial regulator. Scotia iTrade provides investors multiple options to open a new account; online, by phone, or in person.
- Itrader offers free Forex related education through video on demand, tutorials, e-books and courses.
- In addition to your personal references, you must provide other information such as your financial situation and trading experience.
- If you still have doubts, you can consult the best trading platforms, where you will discover that Itrader is an excellent option.
- Considering that the parent company sets the rates and prices, manipulating these investments means making money thanks to naïve clients.
- Whether you want to trade commodities, stocks or Bitcoins and need assistance, the Itrader team will respond.
The Hoch Capital Limited is the owner of the ITRDAER trading name. Here also, there is a shocking revelation that the reputed Cyprus Securities Exchange Commission fines the broker for its spurious working and its services. It is an administrative fine to the broker which shows the truth about their claims of ethical working and adherence to CySEC’s guidelines. It unravels their fake claims as the USA does not allow their entry in its region. This is due to the lack of alignment of the broker under the strict rules of the country. Traders are scratching their heads on the discrepancy in their data.
We can’t say for sure, but it is likely they have bribed popular Forex blogs for good reviews. The information on this website is not necessary 100% accurate and can not be treated as direct enforcement or obligation from the side of InvestManiacs to perform certain actions. ITrader is an online broker offering their clients trading on CFDs and forex.
So let’s hope they’ve learned the lesson and will become a more reliable broker. I rarely share my story with people, not only because it put me at the lowest point ever but because it made me a person of ridicule among family and friends. I put all I had into Binary Options ($690,000) after hearing great testimonies about this new investment strategy. I was made to believe my investment would triple, it started good and I got returns . Gathered more and involved a couple family members, but I didn’t know I was setting myself up for the kill, in less than no time all we had put ($820,000) was gone.
Once you have installed the chosen platform, you must complete the username and password that you have received by email. Now you can enter the world of Forex trading and start investing safely. It also has a sub-affiliate program that will allow you to obtain 10% of the earnings that your referrals produce monthly. The program has a wide range of promoted brokers with a variety of services.
However as we cover more aspects of this 8 year old company we’ll see just how strong they are. The company that owns Itrader is Hoch Capital Limited, which was founded in 2012 and licensed with the Cyprus Securities and Exchange Commission in 2013. They’re licensed to operate throughout the Eurozone, as well as in any other countries that accept a CySEC license.
When it comes to the bonuses or other promotions, unfortunately, we weren’t able to find anything of that sort on the website. Just how does this broker do when it comes to treating you right and answering any of your questions? And all you have to do is get in contact with customer service. You’ll find an FAQ page that has a whole lot of questions and answers available but if none of those work for you there’s also a customer support team available 24 hours a day.
You will have access to a demo account to try out the best way to trade CFDs. In the trading section of Itrader you can learn all the details about the financial products it has to offer. You will also find CFD trading tools that will make you trade safely.
This broker has three account types, Silver, Gold, and Platinum. Traders looking to open a Silver account will need a $250 minimum initial deposit. The biggest draw for the higher account types https://forex-reviews.org/ is improved spreads. In summary, iTrade is best for investors starting out on their path with few funds or savvy mainstream investors looking to build a portfolio of low MER indexes.
The website is available in 7 languages; US |Clients are not accepted. Some traders have complained that account managers asked them to deposit more money, others have complained that they had to send ID verification and others call them an outright Scam. Itrader clients have often reported having issues logging in to their accounts. As is common with regulated Forex Scams, once a victim tries to withdraw their funds they begin having issues such as these.
Deposit Methods and Minimum Deposit
These places are safe havens for scammers because they have very loose financial regulations. They know how to optimize their services to be the best for both experienced and novice traders – both can find set of tools that fits them the most. By using ITRADER’s services, you may benefit from years of expertise in a click of a button. The action against the ITRADER by the reputed CySEC is a barometer to the services of the trader.
Even though this brand is relatively new, having only come around in 2012, they actually have a great deal of attention and some pretty big backing from investors and traders. In fact, this broker is one that’s extremely reliable and they’re considered extremely itrader review transparent, great with customer service and excellent even more with payment processing. In fact, you’re going to get a lot of great features with them. These “advisors” are also pushing clients towards investing in CFDs because that’s more profitable for them.
Tell us about your case with a free consultation today, and we’ll let you know what we can do to help. Itrader receives generally positive feedback which often highlights important points to consider. That is why before choosing a broker you should consult them to make your trading operations safe and worry-free. You will also have the possibility to fill out an enquiry form from the Itrader page by entering your details. The opening hours are from Monday to Friday, from 9 in the morning to 9 at night, although we do not attend Saturdays and Sundays. Itrader is a broker regulated by the Cyprus Securities and Exchange Commission .
That means you’re going to have notice no matter what’s going on and you can make informed decisions about just what you want to do about your trades or potential trades. Because you’re going to have access directly from your mobile device you’re not going to have to worry about where you are when you get that important news about a big deal. You’re also going to be able to check in whenever you want and from anywhere.
That’s a sure sign that Itrader has been using bots or fake accounts in an attempt to boost their overall review ratings. Not only do their “advisors” use pushy sales tactics, but they consistently steer their investors towards CFDs. Of all the negative feedback we’ve seen about this company, at least 90 percent of it is related to this tactic. Was told my account manager would call me to show me how to trade. After that I had calls from several different people from different companies all harassing me to add more money to the account.
They’re written by some of the best experts around and they’re going to be written by some of the people who work within the company as well. I started working with him at the beginning of the year and, damn it, it was a good choice. Probably after removing all restrictions, I will trade less actively, but I will not completely abandon it. The acceptance and declination of the trade depends solely on the will of the market maker. Thus, the broker wins even in the case of a loss to the trader. As a member of CySEC, ITrader works hard to provide timely release of funds and even operates on a zero commission basis; ensuring you have the maximum profit possible.
All in all, this is still a relatively new broker and has already made a significant leap in popularity. 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. They don’t offer a bonus, in accordance with CySEC’s rules and ban on bonuses. According to the company website, ITrader is located in 125 Griva Digeni & Kolonakiou, Grosvenor Tower, ground floor, 3107 Limassol, Cyprus.
Trading with iTrader
Live Chat is available plus Global.ITRADER operators are ready to sort out your doubts via phone and email. With Global.ITRADER Forex broker you can get free access to mobile trading apps for both iOS and Android. This way, wherever you are, you can fire up an app in your smartphone and start trading Forex pairs, stocks, commodities, and indices in a single platform. That gives you a whole lot more freedom than you might have gotten from some of the other systems and versions of brokerage firms around.
MoneyBack Hero’s experts are experienced in handling all matters related to fund recovery, and we’ve helped thousands of people retrieve their funds from forex and other investment scammers. Worse, we see near-constant reports of pushy advisors who ask for more money on a daily basis or claim that customers need to invest additional funds in order to make such-and-such a trade. These kinds of push sales tactics are a good indicator that a broker is not acting in your best interest. It’s a really reliable and trustworthy broker, the platform works really fast, the staff is professional. “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. For the funds’ security, the broker operates in full compliance according to the regulations.
The platform is available on a desktop version and combines all available tools and features. It contains a lot of useful and unique articles on different aspects of forex trading. It contains a number of useful courses on different aspects of forex trading.
The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality. All information should be revised closely by readers and to be judged privately by each person. You will only find out the deposits for each account type after you create an account and deposit the minimum of 250 EUR/USD.