They are now an unregulated broker and also do not have any authorization to provide financial services within the European Union. ITrader has a mobile app for iOS and Android, but the online reviews do not look good. The reviews are poor and customers say the functions offered are too basic.
This ban set a precedent, no financial regulator within the EU had ever rescinded passporting rights before this. European Economic Area agreements allow for brokers registered with a financial regulator in one country to offer services to all countries within the agreement. ITrader has recently faced catastrophic problems with financial regulators, culminating in their abandoning their CySEC license. They now operate as an unregulated broker with mediocre offerings. We are sorry to hear that you are not happy with our service.
Itrader is a regulated trading broker that will give you the possibility to invest in different underlying products. You will be able to invest in Forex, commodities, shares, indices, Bitcoins, oil, gold and silver. Itrader’s mobile application is based on Meta Trader 4 to manage and monitor your trades from your mobile device. You can safely trade Forex or Bitcoins, among other markets, anytime, anywhere. As expressed in their opinions, customers feel confident and secure in being able to draw on the support material.
The suspension reinforced that the brokers do not have the authorization to provide financial services to any UK residents. For the month of the suspension, the broker would be unable to take on any new clients. June 1st, 2020, saw the beginning of a chain of events that led to Hoch Capital Ltd renouncing its CySEC license.
Shane first starting working with The Tokenist in September of 2018 — and has happily stuck around ever since. I certainly wouldn’t do business with anyone who makes persistant unwanted calls – that’s not business, it’s harassment. They keep calling constantly from different numbers so that I can’t even block they should understand I don’t want it when I never answer but they just keep calling and I keep blocking. Due to the numbers always being different I can no longer answer calls from others because I have to look up the numbers to see if it’s this business.
CySEC Suspends iTrader’s Activities
They offer appealing returns that may look promising and attractive and make you invest in that plan. But later, you will realize that you got scammed by the broker. Also, scammers, as you read in this Itrader review, are famous for not withdrawing your money.
I ended my relationship with the company and to this day I’m waiting on some 100€ withdrawal. Oh, someone did call me to try and get me back on board 2 months later. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service.
As such, Hoch Capital and its trading names imposed to notify all active accounts and must not provide any financial investment services t the UK residents. Despite that Hoch Capital is CySEC regulated broker, FCA considers its trading practices and aggressive marketing promotion in the UK controversial to its MiFID obligations. However, due to my inexperience, I unfortunately quickly found myself in difficulty and decided to end trading. I’m a housewife, so i started trading on ITrader for getting extra money for my family. I knew almost nothing, but this platform provided me with the analyst, who taught me a lot.
This was likely about iTrader’s and the other brokers’ reported marketing of complex CFDs to amateur traders. Their statement cited several violations from the brokers. CySEC claimed that the brokers did not appear to act honestly, fairly, and professionally when providing investment services to clients. However, a series of issues with both CySEC and the FCA led to the company renouncing its license and abandoning its CySEC registration.
At Itrader, the interests of its clients prevail and it has an investor compensation fund. In Cyprus this fund guarantees a sum of up to EUR 20,000 to each client in the event of the broker’s insolvency. It is a secure broker that, being regulated by the Belizean authorities, is obliged to comply with MiFID standards.
You will also receive free education related to the trading market, through videos, tutorials, courses, ebooks and webinars. According to users’ opinions, trading with Itrader will make you feel safe and secure when investing, due to all the protections it offers. They recommend this broker for the integrity and transparency of their financial system. You will be able to invest in all the products offered by Itrader, such as Forex, commodities or Bitcoins, with no commission fees. This broker prioritizes its clients so that they can enjoy their trading experience to the fullest.
You can do it safely, with the necessary guarantees regarding the deposited funds. In the trading section of Itrader you can learn all the details about the financial products it has to offer. You will also find CFD trading tools that will make you trade safely. You can use your Itrader account on the various platforms it offers, both in Meta Trader 4 and Web Trader.
The website contains a lot of information but it is not very well-structured and that means that you will not find easily what you’re interested in. Demo accounts are available, without the need to deposit first and the trading platform is one of the best out there in my opinion . You can also find a slightly simpler version that is entirely web-based and doesn’t require any download or installation .
Itrader claims to be an online investment broker like any other. They offer managed investments in forex funds, stocks, bonds, commodities, and contracts for difference , or derivatives as they are often called. In all, ITrader claims to offer trades in more than 170 different assets, including cryptocurrencies and market indexes, and all of these assets can be used as underlying assets for a derivative. This broker aims to attract retail traders, but the team at iTrader seems to have more experience in web-commerce, as opposed to financial services. The information provided on the broker’s website is light, to say the least.
Meanwhile,iTrader is also an official online trading Partner of Manchester City Football Club in EMEA. ITrader offers three different account types Silver, Gold and Platinum that are diversified by their offering according to the trader’s type and the size of operations. Moreover, the Islamic Account for the traders that follow Sharia rules is available upon request too. Their agents/brokers make false promises that you can earn lots of money within a short period of time. I had invested a fairly big amount of money in this company four years ago and am still waiting to get my money back, not to mention the profit.
- The Taxation and Economics Prosecutor’s Office suspected the broker of misleading clients, again, and exploiting customer’s inexperience with binary’s options, pressuring them to invest.
- You will need to download the application to your smartphone or tablet from the App Store for Apple iOS systems or from Google Play for Android systems.
- Rather than implement the changes necessary to meet CySEC regulations, the broker decided to abandon their CySEC registration.
- Within the educational section we can see eBooks, webinars, courses, articles, and tutorials.
- We are very happy to hear that your issue has been resolves to your full satisfaction.
Through this application you can monitor Forex trading operations in an easy to understand way. According to the users’ opinions, from the Itrader application you will have the possibility to manage your account without being an expert. You will be able to open and close positions and you will also have multiple technical indicators and charts available. Webtrader is a web-based platform that you do not need to download or install.
Signed up with ITrader and deposited …
The withdrawal process is protected by high-tech encryption protocols, so you can do it safely and confidently. Itrader offers free Forex related education through video on demand, tutorials, e-books and courses. These tools are very useful for technical analysis of trading strategies. You will need to download the application to your smartphone or tablet from the App Store for Apple iOS systems or from Google Play for Android systems.
Suggested companies are based on people’s browsing tendencies. Should you decide to continue your search for the most suitable forex broker for you, other considerations might be IG, eToro, and/or Interactive https://forex-reviews.org/ Brokers. Support can be reached either through email or phone, depending on your preferred method. There is a disappointing FAQs section that carries the same uncared for trend we’ve seen so far.
AVOID ITRADER IF YOU CAN
That said, while this is a red flag, we’d like to point out a few other concerns before concluding that Itrader falls completely into the full-blown scam category. Many startup companies are founded in these countries precisely because there’s a lot less red tape to cut through than there is in Europe or the US. Itrader is a company that’s been doing business in the foreign exchange market since 2012.
Users, being the most valuable asset of ITRADER, receive the comfort of a large operation – unlike any other in the online market. As a customer, you can enjoy full 24/5 support and a variety of financial services which encompass Forex and stocks, commodities and indices. Operating on a global level, ITRADER gives you the flexibility you need to trade from anywhere in the world. Itrader provides you with a free demo account for 14 days. You will have 50,000 euros to test the trading platform, applying all your trading strategies safely before starting to trade with real money. Domain Nameitrader.comDate RegisteredApril 22, 1999Domain Age23 years, 5 months, 20 days, 1 hour, 16 minutes, 54 secondsAre you looking to trade with Itrader broker?
They gladly pocketed my money, and believe it or not, suddenly I had payback on my credit card account of the overwhelming sum of 50 €! Do not trust this company with any money to “invest” according to itrader review their advices. I put in altogether l.250 € following their “councelling”. Immediately after I opened an account I started to get unsolicited calls from callers with a Russian accent based on “Cyprus”.
If the account is inactive for 3 to 6 months, the monthly fee is 120 EUR or equivalent and for accounts without activity for more than 6 months, the fee goes up to 200 EUR or equivalent. These are extremely high fees, so be aware and take the necessary action to avoid paying them. Also, keep in mind that if you want to withdraw before trading as much as ITRADER whats you to, they will charge a 50 EUR fee.
iTrader Datasheet and Features
After a week if this i’d had enough and asked to close the account. Itrader utilizes the MetaTrader4 trading platform, which is available both on desktop as a complete suite and through a mobile app. The MetaTrader4 is also the most popular software used by fraudulent trading companies worldwide. As you can see, after getting to know all the features of Itrader you can conclude that it is a very good trading option.