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ITRADER -

Score

1.54 /10
Danger

ITRADER

United Kingdom

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://global.itrader.com

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Score

Regulatory Index0.00

Business Index7.24

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

VPS Standard
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Single Core

1G

40G

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Broker Information

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Company Name

Bayline Trading Limited

Company Abbreviation

ITRADER

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-12-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Survey

Danger

ITRADER

Belize

WikiFX Verification

Exposure

1 pieces of exposure in total
Pyramid scheme complaint
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ITRADER · Company summary

General Information & Regulation

ITRADER is operated by the company Bayline Trading LTD, which incorporated under the laws of Belize and bearing the registration number 136374 from IFSC (International Financial Services Commission). Bayline Trading LTD doesnt fall under any regulatory agency, so ITRADER is an unregulated broker.

Market Instruments

ITRADER offers quite a large selection of tradable securities: forex currency pair, stocks, commodities, indices, and other Contracts for Difference (CFDs).

Minimum Deposit

When it comes to deposits, the broker has a minimum deposit requirement of $250. Although this initial deposit amount doesnt go too overboard, this unregulated broker is the one traders should stay away from.

Leverage

The maximum trading leverage offered by ITRADER is up to 1:500 for forex trading. Since leverage can amplify your gains as well as losses, traders should be very cautious when using leverage.

Spreads & Commissions

ITRADER offers three trading accounts, each of them coming with different spreads: for instance, the Silver account has a bid-ask price difference of 2.2 pips for the EUR/USD Forex pair, while Gold goes down to 1.3 and Platinum to 0.7, which is the shallowest spread on the platform. Besides, ITRADER claims that it doesnt charge any commissions.

Trading Platform Available

When it comes to actually trading with Global.ITRADER, the broker provides its traders the widely recognized trading platform – MetaTrader 4.Besides, traders can also get free access to mobile trading apps for both iOS and Android.

Deposit & Withdrawal

ITRADERs withdrawals and deposits methods are powered by both traditional (bank wire, credit cards) and alternative (Neteller, Skrill) financial platforms. None of these methods have commissions on either deposits or withdrawals, however, withdrawals can sometimes take 5 days to complete, which is a bit of a bummer.

Customer Service

ITRADER.COM is available in 4 languages: English, Russian, Spanish, and Portuguese. Apart from Email and telephone, live chat can also be available at ITRADER.

User Reviews

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User comment

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Comments

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Yurio
more than one year
To be honest, their MT4 platform is pretty good, and I've been able to make some decent profits using their 1:500 leverage. But for starters, their minimum deposit is pretty high compared to other brokers. And their spread is way too high, especially for major currency pairs. And when it comes to withdrawals, it's a real pain. All in all, I think there are much better brokers out there. If you're considering ITRADER, I would advise you to proceed with caution.
To be honest, their MT4 platform is pretty good, and I've been able to make some decent profits using their 1:500 leverage. But for starters, their minimum deposit is pretty high compared to other brokers. And their spread is way too high, especially for major currency pairs. And when it comes to withdrawals, it's a real pain. All in all, I think there are much better brokers out there. If you're considering ITRADER, I would advise you to proceed with caution.
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2023-04-24 18:48
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FX1479526564
more than one year
Terrible experience with ITRADER! I found out that they had shut down their website! Then I found out that they were no longer accepting new clients, which made me wonder what was going on. To make matters worse, I found out that they were unregulated, which is a huge risk when it comes to your money. But the worst part was when I tried to withdraw my funds. It took too long! Even five days have been passes, they haven’t processed my withdrawal.
Terrible experience with ITRADER! I found out that they had shut down their website! Then I found out that they were no longer accepting new clients, which made me wonder what was going on. To make matters worse, I found out that they were unregulated, which is a huge risk when it comes to your money. But the worst part was when I tried to withdraw my funds. It took too long! Even five days have been passes, they haven’t processed my withdrawal.
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2023-04-24 18:46
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