itraders24 is a forex and CFD broker that claims to offer a wide range of trading instruments, including cryptocurrencies, commodities, indices, and stocks. The broker also claims to provide competitive spreads, fast execution, and reliable customer support. But is itraders24 a trustworthy broker or a scam? In this review, we will examine the features, advantages, and disadvantages of itraders24 and help you decide if it is worth your time and money.
Features of itraders24
itraders24 offers four types of trading accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, while the Platinum account requires $50,000. The accounts differ in terms of leverage, spreads, commissions, bonuses, and access to educational materials and trading tools. According to the broker’s website, the leverage can go as high as 1:400 for some instruments, while the spreads start from 0.1 pips for the Platinum account. However, we could not verify these claims as the broker does not provide a demo account or a trading platform for testing.
itraders24 claims to use the MetaTrader 4 (MT4) platform, which is one of the most popular and widely used platforms in the industry. MT4 offers advanced charting tools, technical indicators, automated trading systems, and a user-friendly interface. However, when we tried to download the MT4 from the broker’s website, we encountered an error message and could not access the platform. This raises serious doubts about the broker’s credibility and transparency.
itraders24 also claims to offer a web-based platform that can be accessed from any device and browser. However, when we clicked on the link to the web platform, we were redirected to a login page that required us to enter our account details. Since we did not have an account with itraders24, we could not test the web platform either. Therefore, we cannot comment on the quality and functionality of the broker’s platforms.
itraders24 provides various payment methods for deposits and withdrawals, such as credit cards, wire transfers, e-wallets, and cryptocurrencies. The broker does not charge any fees for deposits, but it does impose fees for withdrawals depending on the amount and method. The minimum withdrawal amount is $100 for wire transfers and $50 for other methods. The withdrawal processing time can take up to 10 business days, which is quite long compared to other brokers.
Advantages of itraders24
- A wide range of trading instruments
- Various payment methods
- Bonuses and promotions
Disadvantages of itraders24
- No regulation or license
- No demo account or trading platform
- High minimum deposit and withdrawal amounts
- Withdrawal fees and delays
- Negative customer reviews and complaints
Conclusion
itraders24 is a forex and CFD broker that offers a variety of trading instruments and payment methods. However, the broker has many red flags that indicate that it is not a reliable or trustworthy broker. itraders24 is not regulated or licensed by any reputable authority, which means that it operates without any oversight or protection for its clients. The broker also does not provide a demo account or a trading platform for testing its services and conditions. Moreover, the broker has received many negative reviews and complaints from its customers who have reported issues with withdrawals, customer support, and platform performance. Therefore, we advise you to avoid itraders24 and look for a more reputable and regulated broker instead.
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