Read Our InterTrader Review For Leveraged Trading Service In FX & CFDs
InterTrader claims to be a no-dealing desk financial broker that indulges in spread betting, CFD, and Forex trading. InterTrader was primarily a gambling company that turned towards the FX markets through numerous mergers and acquisitions from top financial companies in EU and around the world. Its present owner, GVC Holdings PLC, is a well-known sports betting and gaming organization that is also listed as a publicly traded entity on the London Stock Exchange. GVC has an incredible presence in more than 14 different countries, with a knowledgeable and professional staff of well over 3200 working in 20 different offices scattered across the globe.
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InterTrader Regulation & Trading Platforms
- Website: www.intertrader.com
- Support: +44 203 364 5189
- 6 Atlantic Suites
- Eurport Avenue
- GX11 1AA
InterTrader is a relatively new venture introduced by the GVC group for offering a wide range of financial products to investors across the EU and Asia-Pacific. In 2016, GVC announced its intention to step into the financial markets by launching the InterTrader Forex trading platform that offers the option of spread betting, as well as CFD trading through three different platforms. InterTrader platform duties are assumed by the MT4 terminals that are available in both desktop and mobile configurations. InterTrader mobile traders can also use a web-based platform known as the InterTrader WebTrader, which is a proprietary trading interface designed to offer all the functionalities of a dedicated trading terminal. Both the MT4 and the InterTrader platforms are easily available for smartphones and tablets running on iOS, as well as Android operating systems. Intertrader has its branches located in Gibraltar and the UK and is regulated by the Gibraltar Financial Services Commission (GFSC) and registered with the Financial Conduct Authority (FCA) of the UK. Gibraltar is a British Overseas territory to the south of Spain that borders Europe and Africa, offering a business-conducive environment with easy regulatory guidelines and a low tax structure on corporate profits. Although the FCA does not directly regulate the broker, the GFSC works along the same principles imposed by the FCA on broker regulation and is answerable to the European MiFID under the EEA (European Economic Area) agreement. InterTrader is authorized by the EEA to offer its services to the European Union and is required to follow all the principles outlined by the regulatory organizations for protecting investors against financial abuse. Client funds are held in segregated accounts and are protected by the Gibraltar Investor Compensation Fund against broker insolvency or liquidation. InterTrader is a part of the overall European regulatory environment, which requires every financial firm to submit regular audit reports to its primary regulatory agency, which is done to increase the transparency of a company’s financial operations. InterTrader clients are protected by the overall financial stability of the parent GVC group, which provides further reinforcement to the idea that investors will be reimbursed for any financial discrepancies.
Trading Conditions Associated With An InterTrader Account
InterTrader is primarily a spread betting broker that also offers CFD and Forex trading as part of its brokerage services. Even though the broker advertises itself as a non-dealing desk broker, InterTrader is a market maker, which does have an automated dealing desk platform for matching orders internally. The broker manages to offer a great list of financial products including spread betting, which ensures that all traders from the UK can enjoy tax-free profits due to the unique status of spread betting in the UK. InterTrader spreads are not highly competitive because the broker only provides a standard market maker account. The spreads are quoted around 2 to 6 pips on major currency pairs, which is certainly one of the most expensive offerings in the FX market. The maximum InterTrade leverage is set at 1:400, with no minimum deposit restrictions, which should allow smaller traders to open a trading account without much effort. The broker does provide an InterTrade bonus on initial deposits that are greater than $500 or its equivalent in GBP. The maximum bonus available for each deposit is 10% of the deposit amount, for a maximum bonus of £10,000. However, there is also another promotion that provides £100 bonus for the first £100 deposit made to a trading account, substantially increasing the account equity to more than 100% even before the trading commences. Every bonus offered by the company is subject to several restrictions while making a withdrawal. You have to make sure that you understand and satisfy all bonus terms and conditions before imitating a withdrawal request. InterTrader also provides a TradeBack rebate feature, which is a reward-based structure aimed to offer cashback for traders who transacts a minimum number of lots per month. The TradeBack feature is an excellent option for high-frequency traders, especially those that trade in high volumes every month. The company also provides a refer-a-friend option, which is essentially an affiliate program designed to promote the broker’s services in return for a share of the profits or a fixed commission per successful referral.
InterTrader’s Reliability & Customer Satisfaction
InterTrader is a new company, which requires it to have an excellent customer support channel in place to address client concerns and improve the overall experience of its traders. FCA and EEA regulation is another key aspect of the company that mandates appropriate action in ensuring that all consumer complaints are addressed in the best possible manner. The FCA provides free access to a financial ombudsman service, which is designed to eradicate any disputes between a company and its clients. InterTrader is excellent for smaller traders that are looking for the fastest way to gain access to the FX market. The wonderful bonus is also an efficient way of increasing equity without taking any additional risks. However, larger traders will miss an ECN account offering, especially for larger deposits, which may prevent the company from exerting its authority over its immediate competitors.