Hello everyone once again! Simon here reviewing Itrader. First thing I want to make very clear is how Itrader isn’t the everyday broker we tend to review. This broker is a Forex Broker, NOT a binary options broker. For those of you who have always followed us for our binary option system reviews I will quickly explain the main differences between the two.
They both have similarities of course. Both Forex and Binary Options are trade able online and both allow users to start up with not much money. In both of these financial markets you are trying to predict in what direction a particular asset is going to be going. Up or down.
In forex, you aren’t just trying to predict which way the markets will be going, but how high or low an asset will go. The final risks and profit is unknown. In Forex however, you have a higher control over your money in a sense because you can put a stop loss on your trades. For example, I can have the trade automatically stop once it’s reached a certain amount of profit set by myself.
This is very basic what I am talking about now. Obviously, there is more to it, but that is the gist of it. I just don’t want anybody running into this expecting binary because forex is not the same thing.
FULLY REGULATED BROKER,
The first thing you want to know when it comes to brokers is whether they have regulations and how official they actually are. Well, Itrader is supplying us with such a huge amount of regulations for almost any country possible that it becomes almost unbelievable. Yes, FCA, CYSEC, FI, MFSA and so many more big official firms like these are regulating this company all around the world.
The obvious question comes to mind…How do we know this is all for real? Well, Itrader have made this very clear to us that they aren’t trying to fool us in any way by giving us their registration info right next to the country and it’s regulator.
HOCH CAPITAL LTD,
So there you have it! Have a look for yourself on Itrader’s website. It really is surprising and exciting to see a broker with so many regulations in place and all the evidence necessary to prove it’s real. All you have to do is click on the link next to the regulated country which will redirect you to another site showing you that the regulations are in fact for real.
Itrader is owned by Hoch Capital Ltd which is an official company you can check out easily.
REFUND AND WITHDRAWAL POLICY,
This is probably one of the best things about Itrader by what I’ve seen. They actually have a “withdrawal and refunds policy”! You can find this easily on their website, it’s all there. What this means is that these people being highly regulated and all can’t possibly go against their own policy in any way.If they weren’t to obey their own words then they can be taken to court.
Having all those regulations I mentioned before only means that Itrader have to be extremely careful at what they do and don’t do for us as users. This is definitely good news for us as we’ve got sense of security when it comes to trusting them. They can’t go against their policy, so we have to get our money back as by their policy if we were to request it.
Another thing that is pretty bad ass is how Itrader allows PayPal to deposit and to withdraw! No other broker I know of will do this. Them allowing us paypal says a lot already about them as a broker. They are helping us to feel like we are really safe. Imagine you couldn’t get your money back from them, then not only would these people have their regulators to worry about, but also paypal.
REAL LIVE DEMO,
Itrader offers us a live real time demo that closely resembles the real thing. By what I’ve seen this specific demo isn’t rigged to win more or less every trade making them look better than they actually are. It seems to be a demo that responds with more or less the same (If not the same) results as it would in real trading.
HONESTY WITH THE DEMO,
The fact that they aren’t making the demo too good to be true does a lot for the credibility of this broker. If all we were getting were wins out of it this broker would definitely feel more shady and uninviting to the user. Them not rigging the demo could possibly mean that their demo is really up to par with their real trading mode and simply are being honest with the performance from the beginning. These are the honest things we want to see with every broker.
EDUCATION AND SUPPORT,
Itrader is offering us free education within their platform. They have absolutely loads to offer, videos, tutorials, webinars, ebooks, articles, etc and this is all free for us to look at and learn from. Most brokers in contrast will not offer you any of this material, especially not for free.
As for support, we contacted them and had a response within a couple of hours. It wasn’t the fastest I’ve ever seen, but we got a response and were there to help in the end. I’ve had it with others where I never even got a response, so waiting for a couple of hours for a proper response isn’t too bad if you ask me.
In general, support and education seem to be looking quite decent. I am going to be looking further into all of this of course.
MY FIRST IMPRESSION ON THIS FOREX BROKER,
It’s looking good! Very good if I’m perfectly honest with you. The trading platform feels user friendly and they allow you to trade on their web based platform, mobile app or even through metatrader 4 for more sophisticated analysis when trading. I can see loads of potential to it all as we are being offered a good package.
The Itrader website has absolutely everything we could ever need from learning to trading from what I can see. The fact that they allow PayPal to withdraw and deposit gives loads of credibility to their dozens of regulations. They have a physical Headquarters in Cyprus you can actually go and see if you wanted to, also.
NO SCAM ELEMENT,
I can see nothing that makes me want to think that this is some form of very elaborate scam. There’s nothing here that shouldn’t be and has everything every scam I’ve reviewed should be mentioning and doesn’t bother to. They do not appear to be hiding anything from us. It’s all there for us to see and with its corresponding evidence to support it.
All I can say is that from what I am currently seeing from Itrader we are not being shielded from the truth, but being offered an honest product where we are informed about every risk, pro and con upfront. The website feels friendly, inviting and professional by all means while offering us every tool we could possibly need to get started in Forex trading.
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