InterTrader Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this InterTrader Review.
InterTrader basically offers a single commission-free NDD account with leverage up to 1:400 on industry`s standard MetaTrader 4 platform. Keep in mind that micro lots are not available for trade.
The Company. Security of Funds
InterTrader is spread betting and CFD provider with a rich asset portfolio. It offers more than 60 currency pairs, Stock indices from 14 countries, 1000s of shares on all leading exchanges, Commodities, as well as US, UK and EU and Asian interest rates and bonds.
Behind the brand is InterTrader Limited, which is a part of the GVC family. GVC Holdings PLC is a multinational sports betting and gaming group, listed on the Official List (Premium Segment) and traded on the Main Market of the London Stock Exchange.
InterTrader Limited is regulated by the Gibraltar Financial Services Commission (GFSC) and as Gibraltar is part of the EU, the broker is also EEA authorised.
GFSC has set several capital requirements, depending on the category of the license holder: € 730,000 (Category 1), € 125,000 (Category 2) and € 50,000 (Category 3). Also, similarly to CySEC and UK’sFCA, all licensed brokers are members of the Gibraltar Investor Compensation Scheme. If a regulated broker becomes insolvent or ceases trading, its clients may be entitled to a maximum payment of EUR 20,000.
Minimum Initial Deposit
In order to open an account with InterTrader, traders have to invest a minimum of $50, which is a comparatively low initial amount.
Yet, other EU brokers require less or none at all. For instance, one may open an account with leading UK spread betting and CFD provider IG with just $1.
Spreads & Commissions
InterTrader says on its website that it offers spreads starting from 1.2 pips on EUR/USD, which is average for the market. We tried out its web-based platform, however, and found out that spread for this pair is fixed at 1.4 pips. As fixed spreads generally tend to be wider than variable ones, such spread is really competitive.
For purposes of comparison, Plus500 offers fixed spreads of 2.0 pips on EUR/USD. For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by InterTrader is 1:400, which is considered a high ratio, yet there are many brokers offering leverage equal to or exceeding 1:500. IG, for instance, offers leverage up to 1:200.
Keep in mind, however, that higher also maximizes the risk, not only profits.
InterTrader supports the renown MetaTrader 4 (MT4), available in all forms & shapes – desktop, web, and mobile apps.
The MT4 is highly regarded by the online trading community mostly because it allows users to fully automate their trades by choosing from a wide range of EAs. What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package. Here is a list of more forex brokers offering MT4 platform.
InterTrader’ web MT4. Click to enlarge.
With the TradeBack Loyalty Scheme, clients of InterTrader (with deposits of at least 500 EUR/USD) can get back up to 10% of the spread paid
Methods of Payment
The following payment methods are available to clients of InterTrader: credit/debit cards, bank wire transfer, and e-wallet payment Skrill.
Note that Skrill will charge 1% of the total amount for withdrawing funds to your Skrill wallet. Skrill will also charge you €2.95 (or the equivalent currency amount) to withdraw funds from your Skrill wallet to your bank account.
InterTrader is a well-regulated spread-betting and CFD provider, based in Gibraltar. It offers trading in wide range of financial assets on the popular MT4 platform.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
InterTrader Review Conclusion
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