Intertrader is a leading CFD and spread betting broker established in 2011. In 2016, it was acquired by GVC Holdings PLC, a sports betting and gaming company that is not only listed on the London Stock Exchange but also included in the FTSE 250 Index. Intertrader offers a wide range of products, including forex, indices, commodities, bonds, cryptocurrencies, and stocks. Although the broker is based in Gibraltar, it is allowed to trade throughout the EU under MiFID regulation.
Pros
· Intertrader is regulated by a tier-1 regulator, the FCA, but in an indirect and a limited manner. It is primarily regulated by the Gibraltar Financial Services Commission (GFSC).
· Clients’ deposits are protected against bankruptcy by both the GFSC and the parent company.
· The broker offers a wide selection of tradable instruments, such as forex, commodities, indices, stocks, bonds, and cryptocurrencies.
· Intertrader offers its own proprietary web-based platform, in addition to the MT4 platform, and it provides the corresponding mobile apps for Android and iOS devices.
· It has an extensive training webinar course for both beginner traders and intending professional traders, and the courses are free.
· The broker has won many awards over the years.
· It also provides advanced charts module and several other advanced trading tools.
· Its research resources are integrated into the web platform.
Cons
· The broker’s commissions and fees are relatively high on the web platform.
· Details on trading conditions are lacking
· Although it has diverse tradable asset classes, the specific instruments are not clearly listed on the website.
· Clients cannot find stocks on the MT4 platform.
· At £500, the minimum deposit is rather on the high side.
Overall Ranking
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Extended Review and Information
Established in 2011 by the merger between Bwin Interactive and PartyGaming PLC, Intertrader was acquired by the GVC Holdings PLC in 2016. It is authorized by the Gibraltar Financial Services Commission (GFSC) and subject to limited regulation by the FCA.
Apart from its Gibraltar office, it has a branch in the UK and plays by the MiFID regulations. Its clients can trade CFDs or spread betting on several assets, including stocks, interest rates, cryptocurrencies, commodities, indices, and forex.
How to Open your Account
Opening an account with Intertrader is quite easy. All it requires is to choose the nature of account you would like to open — web account or MT4 account — and choose whether it’s a corporate or individual account. For an individual account, you will need to fill in your personal details, address, trading experience, and economic details.
Depending on your country of residence, you can choose the type of trading you want — spread betting or CFDs trading. The UK and Irish residents can play spread betting, which comes with tax-free profits. The minimum deposit you need to trade with this broker is £500. This may not be very economical for those who are just beginning their trading career, or looking to start learning.
Trading Instruments Available
Intertrader offers CFD trading and spread betting (for traders in the UK and Ireland). Clients can trade a wide selection of assets, such as forex, interest rates, commodities, and indices. For forex, Intertrader offers major, minor and exotic currency pairs.
Cryptocurrency enthusiasts can trade any of Bitcoin, Ether, Bitcoin Cash, Litecoin, or Ripple without the need for a digital wallet. In addition, it also offers margin trading on stocks.
Deposits and Withdrawal Methods
Funding your Intertrade account can be done in a number of ways. Bank wire transfer and credit card transfer are common options. You can also fund your account via web wallets such as Skrill.
In accordance with international anti-money laundering regulations, withdrawals must be made via the same method you used when depositing funds. For instance, if you funded your account through a bank wire transfer, you can withdraw only through bank wire transfer.
Interface
Intertrader primarily uses the well-known MT4 trading platform, which comes with a wide array of trading tools, such as a beautiful charting package that supports hundreds of indicators and automated trading.
Additionally, Intertrader provides experienced clients with its proprietary web-based advanced trading platform, which supports multiple workspaces for different markets and is integrated with advanced trading tools, like the Autochartist and Trading Central tools. Furthermore, Intertrader also provides corresponding mobile apps for Android and iOS devices.
Education and Research
The broker provides educational resources for both beginners and experienced traders. The resources come in the form of daily blog posts and free trading webinars which are organized on a weekly basis. Also, there’s a four-part webinar course for advanced training.
Intertrader offers multiple third-party research tools, such as pattern-recognition and trading signals from AutoChartist and Trading Central, in addition to 24/5 real-time economic news and commentary from RANsquawk and technical analysis from IT-Finance. This is quite a rare service for brokers to provide and we rate them very highly for this.
Overall, Intertrader is one of the only brokers which seems to provide solid levels of education for traders who are no longer beginners, and looking to branch out and maybe even make trading their main source of income.
Commissions and Fees
Trading costs for this broker are based on spreads and commissions. For spread betting, the trading cost is based solely on dealing spreads, while for CFD trading, the cost can from both spreads and commissions.
However, the spreads vary with the asset traded. It is important to note that the spreads are different for the two platforms. Trading on Intertrader’s web-based proprietary platform carries higher spreads than trading on the MT4 platform — almost double.
Customer Support
This broker has a highly responsive customer support service. The service is available via multiple channels, such as live chat, phone lines, and emails, and you can contact them at any time during the day (24 hours) from Monday to Friday.
Awards
In spite of its relative newness, Intertrader has won a handful of awards in the last couple of years, including:
· The Spread Betting Provider of the year 2019, from the City of London Wealth Management Awards
· The Spread Betting Provider of the year 2018, from MoneyAge Awards
· The Spread Betting Provider of the year 2017, from MoneyAge Awards
· The Best CFD Provider in 2016, from FXEmpire
Regulations and Jurisdictions
Intertrader is regulated by a tier-1 regulator, the Financial Conduct Authority (FCA) in the UK, but in an indirect and a limited manner. It is primarily regulated by the Gibraltar Financial Services Commission (GFSC). However, it abides by the EU’s MiFID regulations.
This broker’s clients are protected by the GFSC’s compensation fund up to the limit of £20,000 in the event of the broker’s bankruptcy. GVC Holdings PLC, the parent company, also has a guarantee indemnifying all client funds with Intertrader — thus, the compensation limit is surely more than the £20,000.
Conclusion
Intertrader is an online broker that offers CFD trading and spread betting on many different instruments. It is not only regulated in the EU but also backed by a publicly traded company with many years of history. However, the broker should remove the pricing difference between its web-based platform and the MT4 platform as this is not convenient for any client who wishes to trade on-the-go. It can also lower the minimum deposit amount to allow for more new traders to benefit from their great services.
Overall, we highly recommend Intertrader and believe that the ideal candidate is a trader who has already learnt the basics, and is ready to step up to the next level of trading and take full advantage of the wide array of tools, education and other benefits provided by this broker.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading 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. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results.