- Why Choose InterTrader?
- InterTrader - Essential Information
- History of InterTrader
- Where Does InterTrader Operate?
- Can I Trust InterTrader?
- Key GVC Holdings plc Executives
- InterTrader Trading Products
- InterTrader Account Types
- InterTrader Spreads and Fees
- Account Requirements
- InterTrader Withdrawals
- InterTrader Platform Review
- InterTrader Demo Account
- InterTrader Education Resources
- InterTrader Sign-Up Bonuses and Promotions
Risk Warning: Your Capital is at Risk
InterTrader is a derivative brokerage firm that offers customers a platform for spread betting and trading forex and Contracts for Difference (CFDs). CFDs allow traders to speculate on the price of assets without actually owning them in their accounts. InterTrader offers customers CFDs on forex, stock indices, individual shares, commodities, interest rates, bonds, cryptocurrencies and special trading markets.
InterTrader is owned by publicly traded gaming company GVC Holding plc. The firm is known for its “no dealing desk” business model. Rather than taking the other side of your trades, InterTrader immediately hedges them in the underlying market, which effectively eliminates any conflict of interest the broker has with its customers. Customers of InterTrader have access to trading on the InterTrader web-based platform, the industry standard MetaTrader4 (MT4) platform and mobile trading apps on iPhone, iPad and Android.
InterTrader offers customers a regulated and low-cost way to trade a wide array of CFDs and forex. Customers can take comfort in the broker’s strong financial backing from its publicly traded parent company. Please remember, while InterTrader is a responsible broker, losses can still exceed deposits. CFD trading is for experienced traders.
This review of InterTrader will cover all of the important details about the broker and discuss its major advantages and disadvantages.
Why Choose InterTrader?
|What's Good About InterTrader?||What Could InterTrader Do Better?|
|Trustworthy broker (we scored InterTrader 75/100 in our broker trust rating)||Bitcoin and Ethereum are the only cryptocurrencies available to trade|
|Easy-to-learn platform||Demo accounts not linked to live account|
|Advanced tools can be easily added to the platform||Ticket feature can be awkward and difficult to use|
|Offer a loyalty rebate program for combined spread costs of over £500 a month (not available on MT4 accounts)||Only regulated by a lower-tier regulator|
|Support in 16 languages|
|Available in over 200 countries|
|24/5 customer support via phone, live chat or email in multiple languages|
InterTrader - Essential Information
|Overview||No dealing desk spread Betting, CFD & forex trading|
|Our Overall Rating|
|Broker Trust Rating||75/100|
|Countries Served||More than 150|
|Minimum Deposit||100 GBP/EUR/USD/PLN|
|Fees||InterTrader is a no-commission broker. It makes money through the market bid/ask spread (See below). See here for full list of fees|
|Regulator(s)||Gibraltar Financial Services Commission|
|Customer Support||24/5 email, live chat and phone|
|Demo Account||Yes - for both platforms|
History of InterTrader
InterTrader Limited is part of the GVC Holdings plc (GVC) family of companies. GVC Holdings plc is a multinational gaming and sports betting company listed on the Official List (the premium segment) and traded on the Main Market of the London Stock Exchange. The firm was incorporated as Gaming VC Holdings S.A. in Luxembourg in 2004.
In addition to operating InterTrader, GVC operates many companies in the gaming sector including bwin, sporting bet, PartyPoker and Foxy Bingo.
GVC employs over 3,200 employees in 20 offices worldwide. The firm has licenses to operate in 14 countries. GVC acquired bwin.party in February 2016 to form one of the world’s largest listed online gaming companies. The firm launched InterTrader in 2016 through its subsidiary InterTrader Ltd.
GVC is incorporated in Isle of Man, where it has registered offices. InterTrader is a trading name of InterTrader Limited which is owned and controlled by GVC Holdings plc. InterTrader Limited is authorized and regulated by the Gibraltar Financial Services Commission and registered with the Financial Conduct Authority in the UK (Registration number 597312).
InterTrader provides customers dedicated 24/5 customer support. Traders can contact InterTrader customer service by phone, email or live chat. Traders can also fill in an online form to leave a callback number for InterTrader to contact them. Traders can view the InterTrader website in English, Spanish, French, Polish, and Bulgarian.
Where Does InterTrader Operate?
- United Kingdom
- Aland Islands
- Antigua And Barbuda
- Bolivia, Plurinational State Of
- Bosnia And Herzegovina
- Bouvet Island
- British Indian Ocean Territory
- Brunei Darussalam
- Burkina Faso
- Cape Verde
- Cayman Islands
- Central African Republic
- Christmas Island
- Cocos (Keeling) Islands
- Congo, The Democratic Republic Of The
- Cook Islands
- Costa Rica
- Côte D'ivoire
- Czech Republic
- Dominican Republic
- El Salvador
- Equatorial Guinea
- Falkland Islands (Malvinas)
- Faroe Islands
- French Guiana
- French Polynesia
- French Southern Territories
- Heard Island And Mcdonald Islands
- Holy See (Vatican City State)
- Hong Kong Sar
- Iran, Islamic Republic Of
- Isle Of Man
- Korea, Republic Of
- Lao People's Democratic Republic
- Macedonia, The Former Yugoslav Republic Of
- Marshall Islands
- Micronesia, Federated States Of
- Moldova, Republic Of
- Netherlands Antilles
- New Caledonia
- New Zealand
- Norfolk Island
- Papua New Guinea
- Russian Federation
- Saint Barthélemy
- Saint Helena, Ascension And Tristan Da Cunha
- Saint Kitts And Nevis
- Saint Lucia
- Saint Martin (French Part)
- Saint Pierre And Miquelon
- Saint Vincent And The Grenadines
- San Marino
- Sao Tome And Principe
- Saudi Arabia
- Sierra Leone
- Sint Maarten (Dutch Part)
- Solomon Islands
- South Africa
- Sri Lanka
- Svalbard And Jan Mayen
- Syrian Arab Republic
- Taiwan, Province Of China
- Tanzania, United Republic Of
- Trinidad And Tobago
- Turks And Caicos Islands
- United Arab Emirates
- Venezuela, Bolivarian Republic Of
- Viet Nam
- Virgin Islands, British
- Wallis And Futuna
- Western Sahara
InterTrader supports 16 different languages on its platforms. Website languages:
Can I Trust InterTrader?
We feel that InterTrader is a trustworthy company since it is registered with the Financial Conduct Authority (FCA) (Registration number 597312). The company receives its regulatory oversight from the Gibraltar Financial Services Commission.
In addition, shares of InterTrader’s parent company, GVC Holdings plc, are publicly traded on the London Stock Exchange. As a public company, GVC Holdings plc must make full disclosures about its financial health.
|Regulator||Countries Covered||Protections Offered||Additional Protections Offered|
|Gibraltar Financial Services Commission (GFSC)||The GFSC allows passport to EEA countries, which consist of EU countries and Iceland, Liechtenstein and Norway: |
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.
|All client funds are held in a segregated client bank account||The Gibraltar Investor Compensation Scheme (GICS) may cover up to €20,000 if InterTrader fails.|
Gibraltar Financial Services Commission
The Gibraltar Financial Services Commission (GFSC) regulates InterTrader’s activities.
The GFSC is modeled on the FCA and maintains the same high regulatory standards, but in a smaller jurisdiction.
The GFSC lays down strict rules on the handling of client money. InterTrader clients’ funds are fully segregated and ring-fenced. This not only includes funds deposited with the broker, but total net available funds (including the value of open trades calculated on a mark-to-market basis). Client funds are held completely separate from the firm’s own funds.
Any money that InterTrader holds for its clients cannot be used to satisfy the claims of any of the broker’s creditors. Even the bank cannot use the funds to offset against debt on any other bank account. The GFSC compensation scheme pays compensation up to €20,000 to customers if InterTrader is unable to pay.
Financial Conduct Authority
InterTrader is registered with the Financial Conduct Authority and its registration number is 597312.
Who Runs InterTrader?
GVC Holdings plc, the company that owns InterTrader, is a publicly held company traded on the London Stock Exchange.
Key GVC Holdings plc Executives
|Lee Feldman||Non-Executive Chairman||Lee joined GVC in December 2004. He is the Managing Partner of Twin Lakes Capital, a private equity firm focused on branded consumer products, media and business services and the CEO and a board member of both MacKenzie- Childs and Jay Strongwater, the American luxury home furnishings and personal accessories companies. He has a B.A and J.D. from Columbia University.|
|Kenny Alexander||Chief Executive Officer||Kenneth joined GVC in March 2007 as Chief Executive. He was formerly Finance Director, then Managing Director, of the European operations of Sportingbet plc, which he joined in 2000. He is a member of the Institute of Chartered Accountants of Scotland and previously worked for Grant Thornton.|
|Paul Bowtell||Chief Financial Officer||Paul joined GVC in March 2018 as Chief Financial Officer. Paul is a Chartered Accountant and has extensive experience across the UK retail sector as well as financial and commercial knowledge.|
|Will Whitehorn||Senior Independent Director||Will is the Deputy Chairman and Senior Independent Director at Stagecoach Group plc and is an independent Non-executive Director of Purplebricks Group plc. He is also President of the Chartered Institute of Logistics and Transport and Chairman of the Scottish Gallery and Scottish Event Campus Limited.|
Images sourced from: https://gvc-plc.com/about/corporate-governance/board-of-directors/
InterTrader Trading Products
InterTrader offers customers CFD trading in seven categories of financial assets: forex, stock indices, individual shares, commodities, interest rates/bonds, cryptocurrencies and specials.
InterTrader offers CFD trading in more than 60 currency pairs. The following are the most popular of these pairs:
2) Stock Indices
The following are the most popular stock indices and futures offered on the InterTrader platform:
- UK 100
- Wall Street
- US 500
- US Tech 100
- Germany 30
- Japan 225
- Hong Kong
- CAC 40
- EU Stocks 50
- Netherlands 25
- UK 100 Future
- DAX 30 Future
- US 30 Future
- S&P 500 Future
- US Tech 100 Future
- US Russel 2000 Future
- STOXX 50 Future
- Volatility index Future
3) Individual Shares
InterTrader customers can trade the following types of shares:
- United Kingdom CFD
- United States Rolling CFD
- Germany Rolling CFD
- Gold spot
- Gold Fut
- US Crude spot
- US Crude Fut
- UK Crude spot
- UK Crude oil
- US Gas RBOB
- US Cotton
- Silver Fut 0.5
- Platinum spot
5) Interest Rates/ Bonds
- Euro-Bund Futures SB
- UK Long Gilt
- Euribor Future
- Short Sterling Futures
InterTrader often offers special topical markets, including grey market quotes on the latest IPOs and trading on the key data releases such as US Nonfarm Payrolls.
InterTrader Account Types
InterTrader categorizes its account by the type of products you want to trade. Traders in the United Kingdom can open a Spread Betting Account, while traders from all jurisdictions can open a CFD or a Forex account.
Minimum initial deposit for live accounts must be no less than 100 GBP/EUR/USD/PLN. Every other deposit on your account (excluding initial deposit) must be no less than 50 GBP/EUR/USD/PLN.
InterTrader also offers a demo account for interested traders who want to try out strategies before committing capital to trades in a live account. Traders can open demo accounts for both the web-based and MT4 platforms.
InterTrader Spreads and Fees
InterTrader receives its compensation in the form of the market spread. The difference between the buy and sell prices for any given market is effectively your cost for trading that market.
The spreads for trading vary by the particular financial instruments being traded.
The following are the spreads on the most popular of the 60 plus currency pairs InterTrader offers.
The following are the spreads on the most popular stock indices and futures offered on the InterTrader platform. Spreads on indices vary by the time of the day that the trade is placed.
|US Tech 100||1||14.30-21.00|
|Japan 225||8||24 hours with breaks|
|Hong Kong||10||2.15-4.45 with breaks|
|EU Stocks 50||2||07.00-21.00|
|Netherlands 25||0.3||24 hour with breaks|
|UK 100 Future||4|
|DAX 30 Future||6|
|US 30 Future||6|
|S&P 500 Future||1|
|US Tech 100 Future||3|
|US Russel 2000 Future||0.5|
|STOXX 50 Future||2|
|Volatility index Future||0.1|
|United Kingdom CFD||underlying +0.10% per side|
|United States Rolling CFD||underlying + 2.95 cents per side|
|Germany Rolling CFD||underlying + 0.1 % per side|
|US Crude spot||3|
|US Crude Fut||0.05|
|UK Crude spot||3|
|UK Crude oil||5|
|US Gas RBOB||3|
|Silver Fut 0.5||3|
Interest Rates/ Bonds
|Euro-Bund Futures SB||0.03|
|UK Long Gilt||0.03|
|Short Sterling Futures||0.02|
InterTrader customers can lower their spreads further through the firm’s loyalty rebate TradeBack program. Traders that have paid a combined spread cost during the month of over £500 receive an automatic rebate. Traders receive rebates regardless of their P&L trading during the month.
InterTrader calculates the TradeBack rebate on all trading, including trades on equities. However, MT4 accounts are currently excluded from TradeBack.
Other fees that InterTrader customers may encounter include:
Deposit Fees: Some international transfers will incur a fee charged by your bank.
Withdrawal Fees: Some withdrawals will incur fees (see below).
Overnight Financing Charges: If you hold a position in an undated (Rolling Daily) contract open overnight a small debit or credit will be applied each day to represent the interest cost of holding a margined position.
After you click the blue “Create Your Account” button on the website, InterTrader starts the process of opening your account. The first question you have to decide is whether you want a web-based account or an MT4 account. The web-based account offers 100% market-neutral execution (the no dealer desk model), while the MT4 platform offers customers the possibility of setting up automated trading.
After you choose your platform, InterTrader takes you through the four-step process of opening your account. You provide them with the following:
- Your personal details
- Your address
- Your trading experience
- Your economic details
You also decide the base currency for your account and whether you want a spread trading or CFD account.
InterTrader doesn’t require specific prior trading criteria to open an account. However, traders must answer some questions to demonstrate that they understand the trading products and the risks associated with them.
After completing this information, traders have to supply additional information to verify their identity and proof of residence. You can upload documents via a webcam, your phone's camera or from a file you have already saved on your device.
Proof of Identity
Acceptable documents (both the front and back of the document are required):
- National ID card
- Full driving license (InterTrader cannot accept a driving license as proof of identity and proof of address)
Proof of Address
Acceptable documents (dated within the last three months):
- Utility bill (gas, water, electricity, council tax)
- Bank statement/credit card statement (online print screens are accepted as long as the URL is visible in the image)
- Home telephone bill (InterTrader cannot accept mobile telephone bills)
- Valid driving license (not expired) showing your residential address
Some customers may be asked to provide additional documentation depending on the quality of the documents provided.
You can deposit funds into your account by the following methods:
- Bank transfer
- Debit or credit card
Due to money laundering regulations, InterTrader can only accept deposits from your own bank or card accounts, not those of a third party.
Traders can deposit money into their accounts directly from the trading platform they are using:
By debit or credit card:
You can deposit by a card and make online payments in GBP, EUR, PLN or USD via the My Account section of the web-based platform or via the Company tab on MT4.
Skrill is an online wallet for secure payments and is authorized and regulated by the Financial Conduct Authority.
You will need to have an account with Skrill, which you can create at www.skrill.com. After funding your Skrill account, you can access the “My Account” area one either of the two platforms:
- Log in to the web-based platform
- Click the deposit button at top of the platform
- Enter your deposit amount and click “Pay by Skrill”
- Go to account.intertrader.com and log in to your account
- Click “Deposit & Withdrawal” at the top of the page
- Click Skrill in the left-hand menu and follow instructions
InterTrader offers different amounts of leverage depending on the product. The European Securities and Markets Authority (ESMA) recently introduced an industry-wide limit on leverage levels for spread betting, forex and CFD products.
The limits are as follows:
- 30:1 (i.e. 3.33% margin) on major forex pairs
- 20:1 (i.e. 5% margin) on minor forex pairs, gold and major indices
- 10:1 (i.e. 10% margin) on commodities (other than gold)
- 5:1 (i.e. 20% margin) on equities
- 2:1 (i.e. 50% margin) on cryptocurrencies
Each specific financial instrument also has InterTrader margin requirements that traders must maintain. Traders who fall below the InterTrader margin requirements risk receiving a margin call and having their position closed prematurely. Traders can obtain more details about how these margins are determined at the InterTrader product information section.
To withdraw funds from your account, you click on the My Account area of the web-based platform and select Request Withdrawal. You can also email or call InterTrader for advice on how to withdraw funds.
InterTrader requires you to withdraw funds to their original source, so if you made your initial deposit by bank transfer, the broker returns funds must to your bank. If you made your initial deposit by card, then InterTrader returns funds to the card.
InterTrader usually processes withdrawals within 24 hours if the trader has all of the details in place. However, bank or card providers may take up to three to five days to return the funds to your account.
Skrill withdrawals could take up to 24 hours. When you transfer funds from your Skrill wallet to InterTrader, there will be a processing fee of 3%.
To avoid excessive transaction costs, InterTrader may refuse individual withdrawals under GBP50/USD50/EUR50/PLN50 unless this is to close your account.
InterTrader Platform Review
InterTrader clients have access to the web-based platform and MT4 as well as mobile trading apps for iOS and Android smartphones and tablets. Traders can also access special trading tools:
Cross-Platform Trading Charts: Traders can integrate advanced charting into their trading. This feature allows you to select charts using dozens of timeframes and color schemes. With this feature, you can access 50 different technical indicators from the drop-down at the top of the chart. You can also set alerts on specific prices, trend lines or technical studies.
Free Trading Tools: InterTrader makes certain advanced trading tools available to traders:
- Advanced trading charts from IT-Finance
- Cross-platform trading charts from NetDania
- Trading signals from Trading Central
- Autochartist automated pattern analysis
- Technical analysis from Trading Central
- Economic calendar by Econoday
- Real-time market news from livesquawk
The InterTrader web-based platform is customizable and was designed to be easy to learn. The main screen has a bold and clean layout and some features that make it easy to locate instruments to trade.
The Market Search window on the left side of the screen has a list of instruments categorized by asset class. When you click on one of these categories, the list of instruments populates to the immediate right of this section. There are news, analysis and research sections on the top of the platform and a position monitor tab at the bottom.
The customizing features of the web-based platform are especially useful. You can resize and alter the trading panels that are shown on the trading screen.
We especially liked the fact that you can easily integrate the advanced tools (see above) into the InterTrader Web platform. The Analysis tab has a drop-down menu that links to the Strategy Centre, Trading Tool and Education Centre.
The news section allows you to link to features that fundamental traders will find especially useful.
InterTrader also integrates research and analysis into each specific market you access. In fact, you can access a trading ticket directly from the research panel, which is a feature we found especially appealing.
The InterTrader trading ticket is adequate, but we found some features associated with it to be awkward and difficult to use.
The “stop” and “limit” contingency features required clicking on a separate drop-down arrow to add to the order. Also, the radial circles for adding other contingencies (canceled, good for day and date/time) were too small and poorly placed.
Overall, however, the InterTrader web-based platform is a solid offering with a lot of really impressive tools for both technical- and fundamentally-oriented traders.
InterTrader Demo Account
Traders can open an InterTrader demo account in both the web-based and MT4 platforms. The account is separate from the live platform, and traders can’t toggle back and forth between the two platforms. We found that this separation to be a slight inconvenience, but it is not unique to InterTrader. However, some other brokers do support a direct link to the live platform, and we found this to be useful.
InterTrader Education Resources
InterTrader has a Trading Education tab on its website that offers educational resources for both new and experienced traders. This section of the website has several resources that traders will find useful:
Free Trading Webinars: InterTrader hosts a series of live webinars for all skill levels of traders. Traders can consult this section for an upcoming schedule of courses.
Economic Calendar: A list of key upcoming economic events, which is coded by country.
Frequently Asked Questions: Covers common questions related to trading on the InterTrader platform.
Smart Trader: Text and video covering market data, new and strategies by leading market analysts.
Jargon Buster: a glossary of key market and trading terms.
InterTrader Sign-Up Bonuses and Promotions
InterTrader offers two types of promotions for customers:
InterTrader offers a 10% welcome bonus on your first deposit. To claim this, you need to do the following:
- Open an InterTrader spread betting or CFD trading account on the web-based platform
- Make an initial deposit of $/€/£500 or more
- Request your extra 10% in trading funds, up to $/€/£10,000
Cash-out restrictions apply, and traders should consult the broker’s Terms & Conditions section for full details.
Refer a Friend
InterTrader has a Refer-a-Friend program that allows traders to earn bonuses when they get a friend to sign up for a trading account.
The key Steps are as follows:
- Open an InterTrader spread betting or CFD trading account on the web-based platform
- Receive a bonus each time a friend signs up, up to £1,000
- Each friend will also receive a £100 bonus
Restrictions apply, and traders should consult the broker’s Terms & Conditions section for full details.