Intertrader is a broker that has thousands of assets for trading online via flexible trading platforms. The broker offers Social Trading, Trading Central, Autochartist and RANsquawk. However, their regulation is limited and not ideal whilst they are lacking in educational resources to support traders increase their skills and knowledge.
Intertrader Review, Pros & Cons
- Social trading via ZuluTrade
- Market analysis provided by Trading Central
- Sophisticated & flexible trading platforms for multiple devices
- Trading signals powered by Autochartist
- Real time news from RANsquawk
- USA residents are not accepted
- Lack of a comprehensive trading academy
- Limited regulation
- Limited funding options
- Spreads not the tightest
In this detailed Intertrader review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Intertrader is a UK based spread betting, forex and CFD broker that offers online trading services to traders around the globe. Established in 2009, Intertrader is owned by ‘GVC Holdings Plc’; a popular sports betting and gambling company in the UK. GVC is publicly traded on the London Stock Exchange (LSE) as ‘LSE:GVC’ and it is also part of the FTSE 250 index. The company is well capitalised (in the billions) courtesy of numerous acquisitions. It is presently operating in multiple territories spanning across 5 continents.
The broker offers a myriad of tradable assets across a wide selection of markets. It offers two modern platforms for swift executions, comprehensive market analysis, financial news and a range of useful trading tools.
Intertrader asserts that it uses the ‘No Dealing Desk’ (NDD) brokerage model to execute clients’ orders. As a result; there should be no conflict of interest because Intertrader makes its money from spreads and commissions.
Intertrader has won several industry awards in recognition of its excellent services. The awards include the “Best Spread Betting Provider 2019” which was received at the ‘City of London Wealth Management Awards’. It also won the “Best Value for Money” award in 2013, 2015, 2017 and 2018. The awards were given at the ‘MoneyAge’ awards.
Intertrader Limited is authorised and regulated by the Gibraltar Financial Services Commission (GFSC). It is also subject to limited regulation by the Financial Conduct Authority (FCA).
Intertrader must keep all clients’ funds in segregated bank accounts in line with the rules made by the GFSC. The broker says that it cannot access these funds even if it becomes insolvent, the money can only be used to refund the clients and not for offsetting broker debts. Intertrader conducts daily reconciliations to ensure that this clients’ fund segregation rule is strictly obeyed.
Clients are further protected by the insurance from the Gibraltar Investor Compensation Scheme (GICS). If for any reason, Intertrader runs into financial crisis, the GICS can compensate eligible retail clients by paying them back their deposits up to a maximum of €20,000.
All clients are required to undergo ‘Know Your Customer’ (KYC) verification during account registration. This is in line with the Anti Money Laundering (AML) policy adopted by the broker. So, prospective clients are required to provide a ‘proof of identity’ and a ‘proof of address’ documents.
Intertrader does not accept traders from the United States of America and other areas where its operations will conflict with the local laws. Some Intertrader features and products mentioned within this Intertrader review may not be available to traders from specific countries due to legal restrictions.
This is a proprietary platform from Intertrader. The platform can be accessed from the broker’s website. No downloads or installations are required because the platform runs directly in most modern web browsers. The web platform is customisable and user friendly. From the platform, funds can be deposited and withdrawn from trading accounts. Access to client support, trading guides and video tutorials are available.
Here are some of the core features of the web trading platform:
- The ‘markets’ window displays the assets bid/ask quotes in real time. It is customisable using watchlists.
- Charts can be displayed on over 16 timeframes form 1 second to 1 year.
- Over 25 technical indicators for conducting detailed chart analysis.
- One click trading is supported.
- Economic calendar and educational resources are provided on the platform.
- Technical analysis from Autochartist.
- Expert analysis and trading signals from Trading Central.
MetaTrader 4 (MT4)
This is one of the most widely known platforms that is used by many investors for online forex and CFD trading. It is very popular because of its abundance of features and tools which are useful for thorough market analysis and efficient trading. Users can develop automated systems (EAs) and test them over historical data in the strategy tester. It also supports Intertrader’s 100% market-neutral executions which ensures that the instruments are traded at the market spreads without mark-ups. Here are some of the key features of the MT4 platform:
- Full charts and quotes of all instruments in real time.
- 3 chart styles over 9 timeframes beginning from 1 minute to 1 month.
- 30 inbuilt technical indicators for conducting detailed market analysis.
- 24 analytical tools for technical analysis on charts.
- Fully automated trading using expert advisors (EAs).
- Access to the MetaTrader market where MT4 tools, apps, indicators, trading signals and EAs can be acquired.
- Multiple order types and risk management tools.
- Alert notifications via pop-ups, SMS and email.
- Available via web, desktop and mobile applications for iOS & Android devices.
Advanced Trading Platform
This platform is specifically designed for professional traders. It is only available as desktop application for Windows and MAC OS computers. Trading accounts created on the web-based platform can be accessed on this advanced trading platform.
Here are some of the features of the platform:
- Fully customisable to suit the trader’s preferences and favourite instruments.
- It supports multiple monitors.
- 9 types of charts displayable on 22 timeframes.
- Over 100 technical indicators.
- Integrates analysis from ‘Trading Central’ and other third party tools.
- Automated trading signals from Autochartist.
Mobile Trading Platforms
There are two mobile apps available to Intertrader clients:
- The MT4 mobile app is developed for Android and iOS devices and can be downloaded from the relevant app stores. The app is simple and user friendly. It displays the live quotes of all tradeable instruments in real time. Charting on 3 types of charts and 9 timeframes is available on the app. Indicators and drawing tools are also available. Multiple order types including pending orders and risk management tools are available. The MT4 mobile application maintains most of the main features as the desktop platform although there are some features that are only available via desktop.
- The Intertrader trading app is available on iOS and Android devices. It can also be downloaded from the respective app stores. The app can be used for spread betting and CFD trading on forex, shares, indices, commodities, rates and bonds. From the mobile trading app, traders can open positions, monitor the market prices and close positions on thousands of markets. It features trading from charts, technical analysis and multiple order types. The app also has news from third party sources, economic calendar and account funding options.
Intertrader Trading Tools
Intertrader’s economic calendar is provided by ‘Econoday’; a certified US based financial research firm that provides analysis on economic calendars and other financial data.
Intertrader provides this calendar on the website and platforms with the exception of the MT4 platforms. The economic calendar shows the exact time and date of an event as well as the analysis on the impact of the event on the financial markets.
Trading Central Analysis
This is integrated into the web-based and the ‘advanced trading platform’. ‘Trading Central’ is a leading financial research firm that provides expert analysis on a wide range of markets. The analysis provided can be customized to suit the trader’s favourite assets and trading style.
This is a very popular social trading platform where a trader can automatically replicate the strategies of another trader by copying their trades. This gives users the opportunity to copy other traders without the knowledge of how to trade or taking the time to study complex charts. Intertrader clients can choose to trade on ZuluTrades’ platforms but with the same market-neutral executions powered by Intertrader. There are thousands of signal providers on ZuluTrade and they are ranked by their performance. Clients can choose to copy signals from top performing traders or stop at any time. ZuluTrade also has mobile apps and fully customisable platforms.
Trading Signals by Autochartist
Trading signals are also available on the Intertrader platforms. ‘Autochartist’ is an award winning technical analysis software that scans the markets and notifies the trader when it finds trading opportunities. The signals provided can be customised to show only the trader’s favourite instruments. The Autochartist is also available as an MT4 plugin and inbuilt into the web-trader and advanced trading platforms.
News from RANsquawk
This feature is integrated into the Advanced trading platform. RANsquawk provides 24 hours economic news, commentary and analysis. It also provides audio news.
There is a small selection of articles on spread betting, CFDs and forex on the website. The Intertrader YouTube channel has many video tutorials on the how to use the platforms. The channel also contains videos on previously recorded webinars and some educational videos related to forex trading.
The following instruments are available for trading on the MT4 and Intertrader platforms:
- 56 forex currency pairs, including major, minor and exotic fx crosses
- 25 indices
- 4 rates/bonds
- 2 crypto assets
- 10 commodities
- Thousands of share CFDs from UK, US and Europe
Intertrader Accounts & Fees
During account registration, all clients will have to choose either the MT4 or the web-based platform. Then, they will choose one of the following account types:
- Spread Betting Account: This account is only available to UK clients. Clients bet on point movement in the underlying market and pay the spread.
- CFD Account: This account is available to all clients. It is the main account used to buy or sell forex and CFDs based on price movement speculation.
- Professional accounts: This account is available on request to experienced professionals who can prove that they have satisfactory knowledge and well as equities up to $500,000. Account holders enjoy access to personal relationship managers, up to 10% trading cost rebates and leverage up to 1:200.
The spread for the EURUSD starts from 0.6 pips. Demo accounts are available on all the platforms. These are unlimited and have no restrictions. They give traders the chance to try the different trading platforms and practice their trading strategies.
As broker fees can vary and change, there may be additional fees that are not listed in this Intertrader review. It is imperative to ensure that you check and understand all of the latest information before you open an Intertrader account for online trading.
The customer service desk is open 24/5. On the website, a ‘call back request’ form is available if you wish to receive a call from a customer support representative. Support can also be received via phone, email and online chat. On social media, Intertrader is on Facebook, Twitter, LinkedIn and YouTube.
Intertrader Deposit & Withdrawal
Due to AML policy restrictions, Intertrader can only accept funds from account sources that match the name on the trader account. Cash deposits and third party transactions are not allowed.
The following payment options are acceptable:
- Bank Wire Transfer: Intertrader accepts funds from clients’ bank accounts in EUR, GBP or USD. The only disadvantage is that this payment method takes 3-7 days for the whole transfer process to complete.
- Credit/Debit Card: Only the major cards are accepted. Card deposits are processed within a few minutes.
- Skrill: This is the only online payment method available to Intertrader’s clients. Skrill is an e-wallet payment method used across the globe.
Intertrader Account Opening
It only takes a few minutes to create an account with Intertrader. First visit the website and click on ‘Create Account’ which is found on the right hand side of the menu bar. Choose either ‘Create Web Account’ or ‘Create MT4 Account’. The form below displays:
The form has 4 pages comprising of personal details, address, trading experience and financial details. This is to review your suitability for the trading services Intertrader offer. After completing the form, the last stage is to upload documents. ‘Proof of identity’ and ‘proof of address’ documents are required. Once your documents have been verified which can take a few business days, you will be able to fund your brokerage account and commence trading online.
Intertrader is owned by a company with strong financial background and expertise. The broker has limited regulation, helping to give clients some peace of mind that their funds are safe and insured.
Thousands of instruments are available especially stock CFDs from various exchanges. The broker states repeatedly that it offers only NDD executions and does not manipulate trades.
The proprietary web-based and advanced trading platforms provided are sophisticated and loaded with relevant tools to assist the trader. Automated chart analysis and trading signals from Trading Central and Autochartist are excellent tools that are very useful to traders of all experience levels. The access to social trading through partnership with ZuluTrade is another plus to the broker.
However, the absence of an exhaustive educational resource is a problem because most new traders will need these materials to help improve their trading knowledge and skills. Most top-rated brokers provide a comprehensive academy.
The regulation is perhaps not considered as popular as full regulation from the FCA, CySEC or ASIC. This might be another turn off for prospective Intertrader clients. Funding options are very limited, thus it would be beneficial to traders if the broker could add more online deposit options like Neteller, WebMoney, PayPal and even payment with cryptocurrencies. Furthermore, the brokers spreads are not the tightest and there are additional fees.
Although there are some positives of Intertrader, there are other online brokers who offer a more complete service and more stringent regulation.
Spread betting and 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 these products with this provider. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.