ITRADER is a brand name of the Cypriot financial company Hoch Capital Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC).
The broker offers the possibility of trading four classes of assets – currency pairs, commodities, indices and shares.
Clients can trade online using the well-known platform MetaTrader 4 that is available as a desktop version, as a web-based version and as a mobile application for iOS and Android devices. MT4 provides some useful features such as analytical tools, advanced charting and automated trading.
ITRADER.COM offers three types of accounts differing mainly in instrument’s spread and leverage:
- The minimum spread of EUR/USD in the Silver account is 2.2 pips and the leverage for currency pairs is 1:200;
- Gold account offers 1.3 pip minimum spread for EUR/USD and the leverage for forex is 1:400;
- The properties of theВ Platinum account are 0.7 pips minimum spread for EUR/USD and 1:500 leverage for forex.
The greater the leverage, the greater the risk of losses. There is negative balance protection and clients cannot lose more money than they have in their account. The Stop OutВ occurs if the ‘minimum margin requirement is not maintained’ an all open positions will be liquidated.
The minimum deposit amount is USD250.
This broker is the counterparty to client’s orders and doesn’t process all of them via ‘Straight Through Processing’ (STP). That means ITRADER.COM acts as a market maker and this could lead to potential conflicts of interests with customers.
Legal documents also show existence of slippage (allegedly minimal) and non-guaranteed stop loss orders under certain circumstances (market volatility and low liquidity).
Customers should know there is a monthly fee of USD50 for inactive accounts. ITRADER.COM assumes an account as inactive if there are no deals for 90 days. Company claims not to charge clients when they deposit or withdraw funds.
There is a trading tools section that provides an economic calendar, some forex calculators, market summary (daily and weekly) and chart analysis.