Pros & cons of InterTrader broker

InterTrader Fact sheet

When choosing a Forex broker, safety should be one of your top priorities. The best indicator of trustworthiness is regulations. 

InterTrader is a trading name of Alvar Financial Services Limited. Alvar Financial Services Limited is authorized and regulated by the Gibraltar Financial Services Commission (GFSC), ref FSC1108MIF (incorporation number: 105224) and is subject to limited regulation with the Financial Conduct Authority (FCA) in the United Kingdom, ref 597312. Registered address: 851 Europort, Gibraltar, GX11 1AA.

The fact that the broker is regulated by a reputable financial institution means that it can be trusted. 

The broker offers “Spread Betting” and “CFD” account types. There are different types of traders, some prefer high commissions and low spreads, while others prefer it the other way around. The account types offered by InterTrader meet the needs of both trader types. 

Pros & cons of InterTrader account types

Spread Betting account type

This account type charges no commission to traders. Instead, spreads markups are incorporated into the normal spreads. On EUR/USD spreads start from 0.6 pips. Account holders from the UK can enjoy tax-free trading as spread betting is not subject to CGT or stamp duty. This account type is especially attractive for novice traders and swing traders.

CFDs account

For equity and Forex CFDs, trading fees are charged in commissions. For other CFDs, trading fees are included in spreads. This account type is best suited for more active traders, such as intraday traders, scalpers, high-frequency traders, etc. 

Trading fees of InterTrader are low compared to competitors. There are no fees on deposits or withdrawals and spreads on commission (markup) free accounts start from 0.6 pips. On the other hand, there are inactivity fees of 15 GBP per quarter after 12 months of inactivity.

Comparing InterTrader fees with other brokers

Let’s compare the fees of InterTrader with competitors to better understand how low the fees of this broker really are. For the comparison, we picked fees from a spread betting account.

InterTrader fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

InterTrader fees compared to CM Trading fees

InterTrader fees compared to plus500 fees

InterTrader fees compared to XM fees

InterTrader fees compared to AvaTrade fees

InterTrader fees compared to Capital.com fees

InterTrader offers access to the ever popular MetaTrader 5 (MT5) platform, and traders can access the mobile, web, and desktop versions of the platform. The platform was first released in 2010 and quickly became highly popular. The platform is built for trading various asset classes, such as bonds, futures, currencies, stocks, ETFs, CFDs, etc. MT5 offers 21 timeframes, and various indicators, along with trading automation capabilities. 

Educational material with InterTrader is limited. The broker only offers simple articles and several economic tools, such as:

• Economic calendar
• Market insight
• Market Buzz

It should be mentioned that webinars, seminars, and video guides are lacking, and therefore, this section of the broker gets a low rating from us.

Professional customer support is important for every trader to have access to, as it can save precious time, energy, and money. InterTrader offers live customer support from Monday to Friday 24 hours a day via live chat, over the phone, and using email. 

To sum everything up, InterTrader is a regulated broker that offers access to the trading of bonds, CFDs on stocks, commodities, Forex, and indices using the ever-popular MetaTrader 5 platform. The minimum initial deposit required to open a live trading account with this broker is 100 account currency. Customer service is good, however, on the downside educational material and tools for market research are limited.