Your capital is at risk
ITRADER is a trading platform set up in 2012 by Hoch Capital Ltd. Registered in Cyprus, the platform gained a licence from the Cyprus Securities and Exchange Commission (CySEC) a year later. This allowed it to get passports throughout Europe under MiFID regulation. Its license also means that, in line with EU regulation, it offers a compensation scheme which reimburses users should the company become insolvent. Within a short period of time, ITRADER has built a solid reputation for delivering a functional interface and a convenient way to trade cryptocurrency Contracts for Difference (CFDs) and other financial products.
Your capital is at risk
This ITRADER review will cover all the important aspects of the platform and its tools. Since some information may change after this review is published, we strongly recommend you visit ITRADER’s website to check for any updates. Cryptimi will endeavour to publish any updates periodically on this page.
Apart from the facts that the ITRADER platform is licensed and that it forms parts of a European-wide compensation scheme, using ITRADER is safe for a variety of other reasons. When you store funds on the platform, they are kept in segregated accounts which cannot be used for company operations. In addition, there are several security measures in place to protect your personal information and the entire trading platform from cyberattacks or unauthorized access.
In order to trade on ITRADER you can choose to use one of three different platforms. These are:
All three platforms give you the opportunity to trade the whole range of financial products available, in a convenient and user-friendly manner. Over the years, ITRADER has developed its range of tradable assets and today offers an extensive list. You can, for example, use the platform to trade forex and commodities or invest in stocks. Apart from investing in the assets directly, the platform lets you invest in CFDs, which are sometimes simpler, since you don’t need to securely store the underlying asset.
In fact, cryptocurrency CFDs have proven to be extremely popular on ITRADER. By trading this financial instrument you can benefit from the price movements in various digital tokens without having to store them in a wallet. Instead, you can short sell or go long whilst benefitting from lower trading costs. You can learn more about the benefits of trading CFDs on our separate guide.
CFDs are considered to be a high-risk investment since they normally involve leverage. Through leverage, you risk losing some or all of your investment capital, which is why you should always be aware of the risks before opening any trading positions. 82.88% of retail investor accounts lose money when trading CFDs with this provider.
Since ITRADER is not a cryptocurrency exchange platform like Coinbase or Binance it does not let you buy, sell or trade digital tokens. Instead, with ITRADER you can invest in cryptocurrency CFDs.
The ITRADER platform is easy to navigate and intuitive to use, even if you don’t have any experience trading online. You should be able to find most information easily, although it can be difficult to find precise details, such as fees. Assistance on how to trade and other educational support is readily available, and this has given ITRADER an award for Best Educational Broker.
In order to register an ITRADER account you need to follow this simple sign up process:
You should receive a confirmation email from the ITRADER team with a link to verify your address. Follow the email’s instructions to complete this stage of the sign up process.
When you wish to log into your ITRADER account, all you need to do is:
In line with its Cypriot licence, ITRADER requires that all users submit verification documents before trading on the platform. As per the industry standard Know Your Customer (KYC) procedures, the main forms of identification you can provide to prove your identity are:
In addition, you also need to verify your registered address. In order to do this you will need to submit one of these documents:
Other verification documents might also be required. For example, if you are funding your account using a debit or credit card you will need to provide a scan of both the front and back of your card (with the first 12 digits covered). Similarly, a copy of your bank statement would be required if you are funding your account through bank transfer.
The following instructions will help you buy Bitcoin CFDs using the Metatrader 4 platform. If you are planning to use any other supported platform you will find that the location of some options might be in a different location. You can follow these examples to buy any other available cryptocurrency CFD.
Warning: Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading in the complex financial products offered, please ensure to understand the risks involved.
Closing a position on ITRADER is very easy. The following instructions will help you cash out using the Metatrader 4 platform. All you need to do is:
Apart from closing a position entirely, you can choose to close it partially. This involves reducing the funds invested in the position whilst maintaining some funds invested on the same terms as the original transaction.
If you would like to withdraw some or all of your funds, all you need to do is choose the ‘Withdraw Funds’ button on the left-hand side of your account dashboard. Follow the on-screen instructions to choose your withdrawal method and other preferences.
On ITRADER you have the opportunity to trade a long list of cryptocurrency CFDs. In fact, ITRADER allows you trade 21 different types of cryptocurrency CFD pairs spread along 33 different markets. Some of the most popular ones include BTCEUR, ETHUSD, XRPGBP, and LTCEUR.
Whilst ITRADER supports users from most countries around the world, some notable exceptions do apply. During initial sign up, you will be notified instantly if your country is supported or not, as soon as you enter your mobile phone number.
Apart from all EU nations, the list of supported countries includes Australia, Canada, and Japan. In order to cater to as many nationalities as possible, the ITRADER website is available in 10 languages, including Russian, Spanish, and French.
Only a few countries are excluded from the ITRADER platform, with the United States of America being the most notable.
As with any online trading platform, ITRADER charges fees to its users. However, unlike most platforms, these fees vary depending on which type of account you open.
ITRADER gives you a choice of three accounts, namely Silver, Gold, and Platinum. Each account is best suited to different investors, and it very much depends on your financial situation and capabilities. The benefits of each account are illustrated below.
ITRADER does not charge any commissions on trades, nor does it charge deposit fees. Withdrawals are also free, as long as you don’t have an inactive account. The main fee charged by the platform is the spread, which is set into the buy and sell price of any asset, including cryptocurrency CFDs. Other possible fees charged by the platform include:
Further information about ITRADER’s fees can be found here.
Whilst there are no daily trading limits on ITRADER, the platform may restrict users who have limited experience or financial stability. When it comes to different leverage limits, ITRADER limits vary depending on what kind of account you own. Below you can find the different maximum leverage ratios for different types of trades:
However, it is good to keep in mind that the platform offers higher leverage ratios to clients owning a Gold or Platinum account.
The only significant limit refers to deposits, with a minimum of 250 USD/EUR/GBP set. Before you can make a trade on the website you will need to verify your account. Details on account verification can be found further up in this ITRADER review.
ITRADER offers a variety of 9 convenient payment methods in order to fund your account and make withdrawals:
Although not all payment methods might be available in your country, you would normally always have a choice of debit or credit cards, bank transfer, or eWallets.
In order to protect user details and funds, ITRADER implements several safety measures. Whilst some of these measures are not divulged for security purposes, the website does refer to the following measures:
ITRADER supports new and existing users through a variety of educational resources and video tutorials. Their education center includes all the right tools for their users to improve their trading strategy, with resources such as webinars, eBooks, tutorials, and courses. If you need additional help, you can get in touch with the customer care team, by either using the live chat option or opting for telephone, email or online form. As a registered user, you can also open create a ticket. The support team is available Monday – Friday 08.00 – 20.00 GMT.
Across the Internet, ITRADER has a positive reputation, although there have been several complaints regarding lost funds. Whilst it is difficult to ascertain the veracity of these claims, ITRADER offers an official complaint channel in line with its licencing requirements.
ITRADER hasn’t announced any upcoming features as yet, and since the website does not seem to have a blog, the best way to be informed of any news is through their social media pages.
There are several similarities between ITRADER and Trading 212, with both platforms being regulated and part of a compensation scheme. They also both provide convenient payment options and do not charge any deposit or withdrawal fees. However, Trading 212 offers a much larger range of assets than ITRADER, although the difference in the number of cryptocurrency CFDs is not so pronounced. Whilst ITRADER’s demo account is only available for 14 days, Trading 212’s is always available to registered users.
Whilst both AvaTrade and ITRADER are regulated, only the latter is part of a compensation scheme. Neither platform charges deposit or withdrawal fees, and both offer several convenient payment options to fund your account. The number of supported cryptocurrency CFDs is similar on both platforms, and trading is possible across digital devices, including smartphones. Whilst AvaTrade operates its own exclusive trading platform, ITRADER lets users use the award-winning Metatrader 4 if they prefer.
Both XTB and ITRADER are regulated trading platforms which form part of a compensation scheme. Both platforms offer several convenient ways to pay, charging neither deposit nor withdrawal fees. Unlike ITRADER, XTB supports Paypal payments and extends the use of its demo account indefinitely. Both platforms offer mobile trading functionalities, with a similar choice of financial instruments.
ITRADER is an overall well-rounded trading platform which offers a decent variety of financial instruments, including cryptocurrency CFDs. The platform offers multiple charting and analysis tools and several order limits to help you develop and implement a successful investment strategy. To support you, the platform gives you access to detailed educational tutorials and a dedicated customer service team. However, the number of online complaints remains a cause for concern.
AvaTrade is one of the reputed EU-based FX/CFD platforms which offers CFD trading in stocks, commodities, cryptocurrencies, forex, ETFs, and indices.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
XTB is one of the reputed EU-based FX/CFD platforms which offers CFD trading in stocks, commodities, cryptocurrencies, forex, ETFs, and indices.
76% of retail investor accounts lose money when trading CFDs with this provider. These products are not suitable for all clients, therefore please ensure you fully understand the risks and seek independent advice.