Score
iTraders24
United Kingdom|2-5 years| https://www.itraders24.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United Kingdom
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
itraders24.com
Server Location
United States
Website Domain Name
itraders24.com
Server IP
104.26.6.130
Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | No Regulation |
| Market Instrument | stocks, indices, commodities, currencies, cryptocurrencies |
| Account Type | Classic, Silver, Gold and VIP |
| Demo Account | N/A |
| Maximum Leverage | 1:100 |
| Spread | Classic account: around 2 pips | VIP: from 0 pips |
| Commission | Silver & Gold accounts: $0 indices commission |
| Trading Platform | web |
| Minimum Deposit | $250 |
| Deposit & Withdrawal Method | Bitcoin |
iTraders24 presents itself as a crypto broker founded in 2013 and registered in the United Kingdom that claims to provide its clients with 250+ tradable financial instruments with leverage up to 1:100 and floating spreads from 0 pips on the web-based trading platform via four different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that iTraders24 currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.19/10. Please be aware of the risk.
Market Instruments
iTraders24 advertises that it offers access to 250+ assets, which include stocks, indices, commodities and currencies, as well as cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Account Types
iTraders24 claims to offer four types of trading accounts - Classic, Silver, Gold and VIP, with minimum initial deposit requirements of $250, $25,000, $50,000 and $150,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The leverage provided by iTraders24 is up to 1:100. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
iTraders24s website displays that there is a $0 indices commission on the Silver and Gold accounts, while only the VIP accounts can enjoy raw spreads from 0 pips. Whatever, the spreads we got on the Classic account were around 2 pips.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, iTraders24 gives traders a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
iTraders24 accepts deposits and withdrawals via Bitcoin only. The minimum initial deposit requirement is said to be $250.
Customer Support
iTraders24s customer support can be reached by telephone: +44 203 0973266, email: Support@iTraders24.com or send messages online to get in touch. Company address: 150 Minories, London EC3N 1LS, UK.
Pros & Cons
| Pros | Cons |
| • Multiple asset classes and account types offered | • No regulation |
| High minimum deposit ($250) | |
| • only Bitcoin payments supported |
Frequently Asked Questions (FAQs)
| Q 1: | Is iTraders24 regulated？ |
| A 1: | No. It has been verified that iTraders24 currently has no valid regulation. |
| Q 2: | Does iTraders24 offer the industry-standard MT4 & MT5？ |
| A 2: | No. Instead, iTraders24 offers a web-based trading platform. |
| Q 3: | What is the minimum deposit for iTraders24？ |
| A 3: | The minimum initial deposit to open a Classic account is $250, while $25,000 for the Silver account, $50,000 for the Gold account and $150,000 for the VIP account. |
| Q 4: | Does iTraders24 charge a fee？ |
| A 4: | Like every forex broker, iTraders24 charges a fee when you trade - either in the form of a commission fee or spread fee. While the information on deposits and withdrawals is missing. |
| Q 5: | Is iTraders24 a good broker for beginners？ |
| A 5: | No. iTraders24 is not a good choice for beginners. Not only because of its unregulated condition, but also because of its high initial deposit requirement. |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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