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ITRADER Review

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You have most probably heard about ITRADER by now. ITRADER Forex Broker is a brand name of Hoch Capital Ltd, a company that is rather a newcomer to the retail FX sector, does it have an unstained reputation and offers quite solid services? We do not think so! Interested in finding out more? Keep on reading our ITRADER scam review!

Leverage: 1:500                    Licences: CySEC

Min.Deposit: 250 USD           Bonus: N/A

Spreads: from 0.7 pips                US Clients: No

This broker is a scam! Signup with XM instead! 


ITRADER Review at a Glance

The most important thing about a Forex brokerage is the trust it evokes. When it comes to ITRADER it gives us a first impression of a trusted company but is it enough? We do not think so! ITRADER is licensed and regulated by CySEC, but it is not a first scam broker that have managed to get EU regulation, so be aware that regulation is not enough to offer high-quality services.

itrader-forex-broker-review

For the people that ask themselves “Is ITRADER scam?”, we can certainly say that yes, it is.

ITRADER Scam Reviews of Assets

If you are not sure that a company is trusted, the logical step is to take a look at its offer and trading conditions. This is the field where ITRADER shows its real scam identity.

Apart from offering currency pairs, this broker makes more ways to lose your money available. You can choose among such commodities as gold, silver, crude oil, natural gas, coffee, soybeans and many others. There are also dozens of European and US Stocks available for trading. Be aware that spreads on those markets are much higher than at other brokerages and market prices are different from the real ones.

Finally, during this ITRADER scam review we have found out a list of available Indices –  next to such common assets as SP500, FTSE100, MIB40 and NASDAQ100, you can also trade some exotic indices that are not really available with the other brokers: India 50, South Africa 40 and China Enterprise 40.

itrader-reviews

ITRADER Trading Accounts

With this brokerage, you can get access to three types of the trading accounts. Every each of them comes with different spreads. ITRADER does not include any info about commissions.

itrader-review-accounts

Also, accounts differ in terms of the maximum leverage:

itrader-leverage

Which means that in order to get good trading conditions you will have to go for the platinum account that requires a high first deposit. It seems to be tricky, since the best brokers would offer you the best conditions from the beginning.

 

ITRADER Broker Platforms

This broker lets you access the world’s most widespread and the most awarded piece of technology – MetaTrader 4. ITRADER was one of the first brokerage that launched MT4 in its web version. In addition, ITRADER is a broker that lets you trade Forex on your Mac in a native way. But be aware that MT4 for Mac is just a ported version of the Windows application and it includes a bunch of lags.

Z.Com Broker Platforms

Finally, there seemed to be an extra sweet cherry on top. With ITRADER Forex broker you can get free access to a unique piece of the trading software – Guardian Angel. This tool can only be run on Windows and notifies a trader about possible moves in the market, their directions and volatility. We’ve checked this software and it simply doesn’t give you the correct data. We reckon this tool to be just another way of losing your deposit and recommend you to stay away from the Guardian Angel.

ITRADER Review of Extra Features

During this ITRADER scam review, we have found out that the trading conditions and the technology are not assembled for any type of traders. Additionally, the educational resources available at ITRADER.com website seem to include only outdated articles and books that are freely available on the internet. Which means that there is no reason to deposit with this broker since it does not give you anything good.

ITRADER Customer Support

ITRADER broker website is only available in three languages: English, French and Arabic.

Also, ITRADER seems to support Islamic Accounts, but we are not sure if it is any good.

One of the most striking differences between ITRADER and other brokers is that ITRADER does not give an open access to the complaint form. This way we can understand that this broker is not open to receive criticism on its services and its core task is to scam traders and take your deposit. There is no live chat option with ITRADER which is rather common for all the scams in Forex market.  ITRADER can be reached via phone or email only.

ITRADER Deposits and Withdrawals

The broker does not have a vast amount of trading systems connected. You can use your Visa or Mastercard to top up an account as well as send the funds via a wire transfer.

In order to try to take out the funds from ITRADER you will need to send over your ID, proof the residency and a picture of the both sides of your credit card, in case it was used as a deposit method.

Be aware, sending pictures of both sides of your credit card via email is not the best idea since it can be used by scams easily.

ITRADER Review Conclusion

If you are reading this review, you are wondering thinking between two options: “is ITRADER legit?” or “is ITRADER scam?”. We think that this is a no brainer. Considering only basic regulation and low-quality platform, it goes without saying that ITRADER is a scam broker.

We do not recommend you to sign up, deposit or trade with this broker!

Open a live Account with XM Instead  Get Started with XM now

ITRADER Review Overall rating: 1.2 out of 5 based on 5 reviews.

The swaps were not advised!

★★☆☆☆
2 5 1
I am currently investing with these guys, while I can fault the broker manager I have as she has took me through process and is very good at ensuring you understand. My only worry is that after 3 days of trading it says I have made £620. Profit, I put up £5k. I have 5 open trades still over the weekend that I could not close due to being in negative so now I have these swap charges of over £485,12! I am stuck as I have to keep these open as they in in massive loss of £2488.00. Do I feel stressed , absolutely. If I knew I was going to have swap charges for not closing over night trades I would not have invested. As it stands this weekend if I wanted to close and take me money my £5k back I will lose £2973.00 from my £5k that I borrowed from a credit card. I am seriously stressing. Kevin in Belfast.

UNETHICAL and aggressive broker

★☆☆☆☆
1 5 1
I am currently having a very bad experience with iTrader and to be honest i am actually quite embarrased about it. I will try and keep my experience brief. I initially deposited £250, i received a call fairly quickly from my new Account Manager and was told that in order to have good leverage i needed to put a little more money in the account. I decided to increase it to £2,500 to give me a fair chance of making a decent reurn. I would ike to point out that the main reason for investing was to build up my deposit to buy a new house for me and my kids. I made some profit with the deposited after a few days but i was told my Account Manager that he could not really trade with what was in my account and i should put more money in my account. I made it clear that i did not intend to trade with that much money as i did not know anything about trading and whether it would work for me. He told me that the best way forward was to get a loan from my bank of £50k and in fact this was a usual practice he did with most of his clients which always worked out ok. He kept reassuring me we can make the money back even before the first repayment of the loan was due. He asked me to open up my online banking portal so we can apply for the loan together which we did and luckily the bank approved £25k instead of £50k. He told me to increase my overdraft limit so we can add more money to my trading account. This was the start of the downfall....about a week after this loan was taken out my account was in trouble and of course needed a large sum of money 'pumped' into it to save it. I had no other means of borrowing money so i asked my mum for help and she took out a loan from her bank as well as applied for a credit card all to keep my account afloat. I told my Account Manager that i was very uncomfortable with the large sum of money i was t rading with and i was especially concerned to take money from my mum. I was reassured that all was fine and once my account got back to normal in a few days the money i boorwed from my mum will be taken out. He told me that i had to keep trading with the money though to make more profit. Lo and behold the account got into trouble again....you get the idea. To cut the very long story short i lost a large sum of money (all the borrowed money including my mum's borrowing). I am ashamed to even mention how much it was in total because i keep wondering how i was cohersed to take out all this money. It is very much out of character for me to be taken for a ride but i was made to feel like i could not trade if i did not have a sufficient sum. I was very keen (albeit naive) because i really wanted to make money for a deposit for buying a new home. Since i lost the money 3 weeks ago my Account Manager has changed 4 times!! No one seems to want to take ownership of my account. Apologies for the rather long (essay like) post but i tried to get everything that has happened into it. iTrader's approach of getting clients to pump their account with money is highly UNETHICAL and i am sure they have broken a few rules here!! I would urge anyone who is thinking of trading with them not to...if you are already trading with them let my story be a lesson learnt. This whole experence has ruined my life, left me with a large debt and unable to purchase the house i wanted to for my family. I have asked iTrader to pay my back all my borrowings at the very least. i have all intentions of pursuing this legally if i have to.

ITRADER Review

★☆☆☆☆
1 5 1
ITRADER company is a big scam they only asking you to deposit more and more money! Also this company sending you apps calling Team Viewer and they have access to you bank details. They also are pushing people to take a loan by saying if you do not take a loan you will lose money and saying they will help you to make more money. I initially was robbed of several thousand £'s! My account managers name was Anna C telephone n0 +44-18-64340023 When I have tried to withdraw the money again on several occasions after filling out all required details each time in my account I have never received any money in my Building Society account! I am a disabled person and this extra stress has NOT been welcome! My advice to anyone is AVOID THIS CROOKED COMPANY LIKE A BAD SMELL!!!
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