InterTrader Review 2024
Website: www.intertrader.com
Min. Deposit: US$ 100
Leverage: 1:30
Trading Platforms: MetaTrader 5, Mobile Trading
Regulation: FCA, GFSC
Headquarters: UK
Founded: 2009
Regulatory Licenses:
- InterTrader Limited - authorized by FCA (UK) registration no. 597312.
- InterTrader Limited - authorized by GFSC (Gibraltar) registration no. FSC1108MIF
Updated on March 18, 2024
Quick Links
InterTrader stands out as a brokerage firm that caters to traders by offering a broad spectrum of spread betting and CFDs across numerous financial instruments, including thousands of shares, stock indices, Forex, commodities, and more. The review process took into account a comprehensive analysis of the broker's services, technology, trading conditions, and regulatory standards, comparing them against a field of over 1000 brokers to ensure a fair and thorough evaluation.
InterTrader is recognized for its reliability, featuring an easy account opening process and flexible trading conditions. The broker excels in providing cutting-edge technological solutions, including low spreads and the option for social trading, enhancing the trading experience for its clients.
Pros
Reliable broker with an easy account opening process
Flexible trading conditions
Cuttingedge technological solutions
Low spreads
Availability of social trading
Cons
Lack of 24/7 customer support
Limited educational resources
Restricted range of trading instruments
InterTrader is acknowledged as a commendable broker, offering safe and beneficial trading conditions marked by transparency. The brokerage caters to traders of all levels through a variety of trading services, requiring low initial deposits. InterTrader's widespread availability across numerous countries, combined with its competitive spreads, contributes to its high standing. Based on our extensive testing and comparison with over 1000 brokers, InterTrader's overall ranking is 4.3 out of 5.
Is InterTrader Safe or a Scam? ▲
InterTrader is not a scam. It operates as a regulated brokerage, sanctioned and licensed by the top-tier Financial Conduct Authority (FCA) in the UK, signifying low-risk trading. The broker's legitimacy is further established through its affiliation with GVC Holdings PLC, a prominent entity listed on the London Stock Exchange. InterTrader Limited, part of this group, is regulated by the Gibraltar Financial Services Commission, ensuring a high level of client trust and security.
Our ranked InterTrader Trust Score is 4.5 out of 5, reflecting the broker's commendable reputation, years of reliable service, and possession of a top-tier license. However, it's important to note that regulatory standards and the level of protection may vary depending on the entity, with one of its regulations being in an offshore zone.
The safeguarding of client funds is a paramount concern at InterTrader. All financial transactions and transfers to the broker are securely managed and kept in segregated accounts, in line with regulatory financial rules. Clients benefit from dual-layer protection, including coverage by the Gibraltar Investor Compensation Scheme (GICS) up to €20,000 per client. Additionally, InterTrader provides insurance for client funds up to £1 million through Lloyd’s of London, ensuring a robust safety net for its clientele.
InterTrader, adhering strictly to the regulatory standards set by the Financial Conduct Authority (FCA), offers leverage levels that are strictly dictated by the regulation. For traders based in the UK, the leverage is capped at 1:30 for Forex instruments, while for non-major currency pairs, it's limited to 1:20. Stocks are even more tightly controlled, with a maximum leverage of 1:5. It's crucial for traders to understand how to leverage effectively and to incorporate it wisely into their trading strategies.
InterTrader provides its clients with a standard trading account option and a risk-free demo account. The demo account offers free 30-day access to the MT5 trading platform, allowing new traders to familiarize themselves with the trading environment without any risk.
Setting up a live trading account with InterTrader is a straightforward process. Prospective clients should navigate to the account opening or sign-in page and follow these steps:
Select and click on the "Create Account" page
Enter the required personal details (name, email, phone number, etc.)
Upload documents for verification of personal data (proof of residency, ID, etc.)
Complete an electronic quiz to confirm your trading experience
Once your account is activated and verified, you can proceed with depositing funds.
InterTrader offers a diverse range of trading instruments, including CFDs on shares, stock indices, Forex, commodities, bonds, cryptocurrencies, and more. Its Market Range Score stands at an impressive 8.5 out of 10, indicating a wide selection of instruments across various asset classes.
InterTrader structures its trading costs primarily around the spread. For spread betting and non-Forex CFDs, the dealing charge is incorporated within the spread, built around the underlying market price. When it comes to Forex CFDs, trading occurs at the underlying market price, with a charge of 3 of the quoted currency per standard lot, per side as stipulated by InterTrader. For instance, trading USD/JPY incurs a fee of $3 (per $100,000 lot) upon opening and another $3 on closing. Additionally, traders should be mindful of overnight fees or swaps, which apply if a position is held open for more than a day. For Forex, this rate is calculated as the central bank interest rate plus or minus 1%* for long and short positions respectively. For indices, the rate is adjusted to +/- 2.5%. Considering these factors, InterTrader's fees are deemed low and competitive, with an overall rating of 8.5 out of 10, based on comprehensive testing and comparison with over 1000 other brokers.
InterTrader's trading costs and spreads feature various conditions that fluctuate according to the specific financial instrument being traded. For instance, spreads for EUR/USD are typically around 0.6 pips, while UK 100 shares are charged at 0.1% per side. Additionally, InterTrader incentivizes trading activity through its loyalty rebate program, TradeBack, which offers an automatic rebate to traders who have incurred a combined spread cost of over £500 within a month, irrespective of their earnings from trading positions. Upon comparison with over 1000 brokers, InterTrader's spreads are considered to be competitively low or average, receiving an overall rating of 4.3 out of 5. Specifically, the forex spreads are notably lower than the industry average, and the spreads for other financial instruments are equally appealing.
InterTrader provides its clients with the ability to deposit and withdraw funds using various methods, including Bank transfers and Credit/Debit cards. Withdrawal requests can be conveniently made through the web platform, where traders can also access their complete trade and transaction history. The funding methods at InterTrader have been evaluated positively, with an overall rating of 4.0 out of 5. The broker sets its minimum deposit requirement at an industry-average level, with minimal to non-existent fees for transactions, thereby offering an economic advantage. Furthermore, the availability of multiple account-based currencies enhances flexibility, although the options for deposit methods might differ across different entities.
Pros
Variety of funding methods including Credit/Debit cards, Bank wire, and Skrill
No fees for withdrawals
Cons
Deposit options may vary by entity
InterTrader's minimum deposit stands at $100, which is notably lower than the $500 often required by most other brokers. This lower threshold facilitates easier access for new traders to start trading. The margin requirements, which dictate the minimum deposit needed to open a new position, vary depending on the financial instrument being traded.
For withdrawals, InterTrader allows transactions via Credit Cards and Bank Wire without imposing any additional fees, enabling traders to manage their finances more efficiently. However, it's advisable to check with individual payment providers as they might impose their own set of fees.
How to Withdraw Money from InterTrader Step by Step:
1. Log in to your account
2. Select 'Withdraw Funds' from the menu tab
3. Enter the amount to be withdrawn
4. Choose your preferred withdrawal method
5. Complete the electronic request with the necessary details
6. Confirm the withdrawal information and submit
7. Monitor the current status of your withdrawal through your Dashboard
InterTrader offers the MetaTrader 5 trading platform across web, desktop, and mobile interfaces, catering to both spread betting and CFD trading accounts. In addition, the broker facilitates copy trading, allowing traders to automatically replicate the trades of selected signal providers directly on their accounts. When compared with over 1000 other brokers, InterTrader's platform offering is regarded as strong, achieving an overall rating of 4.3 out of 5. This rating is attributed to the inclusion of the popular and professional MT5 trading platform.
Customer Support ▲
InterTrader extends customer support services to its clients 24/5 through phone lines and email. The quality of customer support provided by InterTrader has been assessed positively, with an overall rating of 4.0 out of 5, based on our testing. The responses received were prompt and informative, and the support team was easily accessible throughout the working week.
InterTrader Education
InterTrader equips traders with various educational resources, including an economic calendar, market news and analysis, trading tools, and insights from Trading Central. Based on our evaluation, InterTrader's educational offerings receive an overall rating of 3.7 out of 5. While the broker furnishes traders with valuable market news and insights through collaborations with leading data providers, it lacks a dedicated research and learning section.
In summary, InterTrader stands out as a reliable online trading service provider, operating under the stringent regulatory oversight of the FCA. The broker employs a No Dealing Desk business model, ensuring traders benefit from the best possible spreads. Technological solutions provided by InterTrader are commendable, offering a variety of trading tools and market analysis options. Hence, InterTrader is highly recommended for a broad spectrum of traders, including beginners, advanced traders, and professionals. It is particularly suited for those interested in spread betting and CFD trading, seeking STP/NDD execution, competitive trading fees and spreads, tight dealing spreads, and robust customer support.
