Is InterTrader Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with InterTrader try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether InterTrader is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker InterTrader
InterTrader is an STP and ECN broker that has been providing services for trading Forex and CFD instruments since 2009. It is part of a large holding conglomerate called Entain Plc, which is one of the leaders in the field of sports betting and has offices on five continents. InterTrader is regulated by the Gibraltar Financial Services Commission (GFSC, 105224) and is registered with the UK Financial Conduct Authority (FCA, 597312). The broker uses the latest technology to provide trading services. It allows its clients to have direct access to financial markets around the world.
| 💰 Account currency: | USD, EUR, GBP |
|---|---|
| 🚀 Minimum deposit: | from 500$ |
| ⚖️ Leverage: | up to 1:30 (for retail traders), up to 1:200 (for professional clients) |
| 💱 Spread: | from 0.3 pips |
| 🔧 Instruments: | Fx, CFDs (indices, commodities, energies, and metals), stocks, and equity options |
| 💹 Margin Call / Stop Out: | N/A |
Pros and cons of InterTrader
👍 Advantages of trading with InterTrader:
•Wide range of assets. With all types of accounts, you can make transactions with currency pairs, indices, commodities, energies, and metals.
•Low trading fees: spreads from 0.3 pips, commission per lot on ECN accounts for Forex instruments is 3 units of the main currency of the traded pair.
•The broker uses the No Dealing Desk system. The execution of clients’ orders depends solely on market liquidity and not on the dealing center.
•The possibility to make deposits and withdrawals using bank cards, Skrill, e-wallet, and bank transfers.
•Availability of PAMM and MAM trust accounts.
•Easy online account opening, no need to visit a brokerage office.
•A wide range of free trading instruments: advanced trading charts from IT-Finance, Autochartist, an economic calendar from Econoday, and multiple news feeds.
👎 Disadvantages of InterTrader:
•High minimum deposit of 500 USD/EUR/GBP.
•The broker does not provide cent accounts.
•There is no online chat on the website or in the personal account.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is InterTrader Regulated? Broker’s license
Security (Protection for Investors)
InterTrader is a tradename of Intertrader Limited, a company registered with the UK Financial Conduct Authority (FCA) under number 597312. The Gibraltar Financial Services Commission (GFSC) is its official regulator.
Intertrader Limited is owned by Entain Plc (formerly GVC Holdings) with a capital of over £10 billion (as of June 2021) and is listed on the London Stock Exchange. InterTrader’s retail clients are protected by the Gibraltar Investor Compensation Scheme (GICS). If for any reason the broker is unable to fulfill its financial obligations, under the GICS each client can claim compensation of up to €20,000.
👍 Advantages
- The broker keeps clients’ funds in segregated bank accounts
- GICS compensation is available for retail traders
- Each client can contact the regulator with a complaint
👎 Disadvantages
- FCA prohibits leverage for retail traders beyond 1:30
- You cannot open an account without verification.
- Professional clients do not participate in the GICS compensation scheme
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by InterTrader, which you can see below.
Analysis of InterTrader conditions by experts at the Traders Union showed that the broker maintains a floating spread on all accounts as a trading commission. MT4 Accounts for Forex instruments also have a lot commission of 3 units of the base currency of the pair being traded in each direction. InterTrader does not charge deposit fees; however, when transferring funds via Skrill, the payment system will charge a fee of 3%. Only more than 1,000 USD/EUR/GBP can be withdrawn without commission. If the withdrawal amount is less, then only the first withdrawal within 24 hours will be free (from 12:00 of the current day to 12:00 of the next day, GMT +1), and for each subsequent withdrawal, the broker will withhold 5 USD/EUR/GBP. It should also be borne in mind that banks and card providers may charge additional fees for transactions.
| Account type | Spread (minimum value) | Withdrawal commission |
| Web account | from $6 | Yes |
| MT4 accounts | from $3 | Yes |
Brokers that are similar to InterTrader
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of InterTrader conditions with its closest competitors.
Comparison of InterTrader with other Brokers
| InterTrader | RoboForex | Pocket Option | Exness | FreshForex | Deriv | |
|---|---|---|---|---|---|---|
Trading platform |
Desktop, Desktop MT4, Mobile MT4 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading |
Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader |
Min deposit |
$500 |
$10 |
$5 |
$10 |
No |
$5 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
1.00%% |
Spread |
From 0.3 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
$30 |
No |
Cent accounts |
No |
Yes |
No |
No |
Yes |
No |
InterTrader has set a high threshold for the minimum deposit, which indicates its focus is on cooperation with experienced market traders.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FreshForex is a reliable Forex broker providing a standard set of trading tools. The company is a good option for traders of all levels, from beginner to professional traders. It is mid-range in terms of size and number of registered traders and they are reliable based on our research and analysis.
Deriv is a broker for beginners and professional traders who prefer to make trades on their own, as well as use auxiliary programs for more efficient trading.
Conclusions
InterTrader is a quite reliable broker for trading. InterTrader operates on the license of a reliable jurisdiction and its operation is regularly monitored. However, the company does not offer the best trading conditions compared to competitors. You can choose this broker and not worry about the safety of your funds, but there are better options in terms of trading conditions.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.