Global ITRADER was set up in 2012 by Bayline Trading Limited and is based primarily in Europe as a trading platform with many stock options. Global ITRADER is looking to position itself as the best stock broker with its offering, but it has a lot to prove in a competitive market with many rivals also investing heavily in the appearance of their product.
This review of Global ITRADER has found that it has decided to focus on making a clear niche for its products with less concentration on how its website looks or the content on it than some other brokers.
Stock Trading Offer: Solid range
Is Global ITRADER good? In order to appropriately assess this, it is important to look at what it has as a full package. Global ITRADER has decided to concentrate on a wide range of stocks, but for traders who also want to delve into forex and assets like this, Global ITRADER makes sure that there is a full range available to stop potential clients looking elsewhere.
Forex: In line with many other big trading platforms out there, there is a wide range of forex currency pairs to check out, including all the usual market matches – with EUR, USD and GBP being centre of most trading assets.
Cryptocurrency: Cryptocurrencies have been one of the most volatile markets in the last few years, and you can make the most of this by correctly hedging on the market direction alongside the rest of your portfolio. With Bitcoin, Ethereum and other popular digital currencies all available, it makes it easy to pick whatever is showing the most potential.
Stocks: Global ITRADER has a much bigger list of stocks compared to the average broker. This means that you can choose everything from big Wall Street companies to overseas enterprises newly listed via IPOs.
Commodities: Alongside stocks, Global ITRADER’s great range of commodities allows it to be one of the better sections for asset types, with rare metals such as platinum and palladium available next to coffee and cocoa, while crude oil and natural gas are also listed.
- Lots of stocks
- Plenty of diversification potential
- Includes many popular markets
Stock Exchanges and Trading Centres: A leading range
Given that Global ITRADER has chosen to make its name in stocks above all else, it is not too surprising to see it leading in that area. It has plenty of other asset types, but as for website descriptions of what it has available, it drops far behind some websites that have worked hard to produce accessible content.
Global ITRADER stock trading is not as strong as it could be – it is a bit difficult to find out what lists of stock options it has available. For traders who are short on time and simply want to find out the information they need as quickly as possible, iTrader needs to put as much work into telling people about its trading centres as it did in building it.
This review of Global ITRADER sees it scoring points for not applying fees on any trades you choose to execute, but this means that you will simply find that the spreads and margins are tweaked to factor that in. It is worth bearing this in mind when you see the spread prices under the accounts section, as it tends to be the case that most brokers follow a market average.
According to our Global ITRADER brokerage review, you can find everything from big tech firms to those operating in niche industries on the stock list, so you can spread out your capital investments as far as you want, and protect them from any market shocks that can happen.
- Worldwide trading opportunities
- Lots of popular companies
- Easy to insulate from shocks
Trading Conditions: Easy to get used to
Trading conditions have been arranged with the Global ITRADER brokerage account to ensure that it is accessible and possible for beginners and experts to trade as frequently and easily as they want.
There are three main account types, alongside a couple of specialist options.
If you choose to go for the most basic option, the Silver account, you will find 2.2 pips on EUR/USD, which is one of the base exchange rates given they are primarily based in Europe, so it provides a good measurement. It comes with a 1:200 leverage, but no chance to access any account management help or any of the learning and education materials they have produced.
To access these, you will need the Gold account at a minimum, which also leaves you with a notably improved 1.3 pips for EUR/USD. At this stage, you also begin to get swap discounts, at 25%.
If you opt to go all the way to Platinum, you are rewarded with 0.7 pips EUR/USD, a 50% swap discount, and a dedicated news and alerts service.
The other available accounts are the demo account, which exists for you to try out and get used to the platform, and also an Islamic account for swap-free trading that adheres to certain beliefs.
- Tiered account process
- Clear rewards on offer
- Demo and Islamic accounts available
Trading Platform: Built on MetaTrader
Global ITRADER has aimed to increase the range of options that it has available rather than worrying about how its website looks, or how accessible the platform is. That said, many stockbrokers also only use MetaTrader software, in this case MT4.
When users access the Global ITRADER stock trading platform, it comes in all the ways that you would expect for an online stock broker in 2019. This means that you can use the MT4 platform through the web browser, though it will be slightly limited in some capabilities to keep everything running quick enough. If you feel that you need all of the tools they have available, then the desktop app is the way to go as it contains all of the little details you may have got used to via another platform.
The same aspects that limit the web browser are also there in mobile and tablet form. However, it is streamlined for mobile devices as many websites and apps are these days, so you may not notice much of a difference. If you do most of your trades on the go, then this is good news for being able to tweak your stock holdings in just a few minutes.
As this stock broker comparison notes, the fact that Global ITRADER stock trading uses the MT4 platform means that it is a little harder to rate it on anything unique compared to brokers that have set up their own proprietary approach instead.
- Does not have its own platform
- Uses MetaTrader technology
- Available for web, desktop, phone and tablet devices
Usability of the Website: Plenty of customisable trading enhancements
It is rare to find a trading platform that eschews the general trend of working on new innovations and capabilities to improve the trading experience, and this review of Global ITRADER shows that it is no different in this approach. While Global ITRADER does not make it eminently clear on its website, the big range of tools that is has made available is impressive enough, and could be a tempting point when aligned with its great range of stocks.
Global ITRADER has delivered a series of charts and indicators that can be customised to present only the data you want to work with, meaning that you can avoid having your feed clogged up with bits of analysis that do not mean so much to you, and can concentrate on the elements that improve your trading results sufficiently.
Global ITRADER has also borrowed some ideas from some of the global e-commerce sites in terms of quickly processing trades and making it easier to be able to do things immediately – which can be vital in a world of potentially volatile markets.
Some account levels also get more tools, account management help, and training and education materials.
- Fast trading options
- Desktop comes with the most facilities
- Customisable charts and indicators available
Customer Support: Available 24/5
Most brokers do not provide weekend customer support, namely because of increased costs and because most markets aren’t open. Global ITRADER is therefore not alone in not offering any weekend access for help, though this may be a turn off to some people.
What is impressive about the customer support when it is available is how many different languages you can contact them in when you call. Most brokers provide such an option for emails and live chat, but having different language speakers over the phone is really useful when you are trying to resolve something in a small timeframe, say before a market closes.
The broker can also be found through live chat, which is becoming more popular as a quicker alternative to emails, though these can still be used. Emails are said to take the longest for a reply, according to reviews. There is also a “get in touch”-type contact form if you want to ask a question, which can then be segmented and answered quicker than in an email.
Global ITRADER also has active social media profiles, which are said to be responsive, so this is another way of trying to attract attention when you need your question answered.
- Many ways to contact the broker
- Multilingual support
- Usually quick response time
Methods of Payment: Standard options welcome
The majority of brokers these days recognise that not every person wants to only use their bank card when making deposits, and it is beneficial that alongside standard card payments, a host of e-wallet solutions are also available.
However, this does not mean that every choice can be facilitated. For those looking to pay with a debit or credit card that is not hosted by Visa or Mastercard, there is no guarantee that the card will be able to work when you try to make a payment. This review of Global ITRADER shows that if you cannot pay via either of these methods, or you do not want to, there are two more methods available.
E-wallets are becoming more popular, especially because they can help to negate excessive foreign exchange currency fees when transferring money over borders. However, they do come with the added problem of taking up to a day to clear. This is the same with a bank or wire transfer. They may also incur fees when you use them if you are going cross-currency, so check this out before you begin.
This Global ITRADER brokerage review also notes that you have to place at least $/€/£250 as a minimum deposit when investing your capital.
When you are about to withdraw any profits you have made, make sure that you are trying to take out at least $100 each time, or a currency equivalent – otherwise it will not work.
- Card payments are easiest
- Bank transfers and e-wallets take up to a day
- Minimum deposit and withdrawal levels apply
Additional Offers: Focus on education and research
Current licensing laws prevent brokers from offering bonuses and promotions. While brokers can be honest about their offering and the benefits, promotions are considered to go beyond this, especially in the EU, where Global ITRADER are regulated.
Due to this legislative stance, companies instead put much more focus on research, learning and education tools. On this basis, Global ITRADER has developed a wealth of educational videos, seminars and books, in a range of short and long formats, to help traders at any level pick up new things that can enhance their results and enable consistency.
When traders have to get used to new platforms, terms that they may not have seen before, or simply want to advance and take their trading skills on another notch, these educational materials can really help to make a difference.
Other brokers may feel that they do this better, and are more clear about what they have available. However, Global ITRADER users may well think that what is on offer is more than enough, and there can be a case of developing too many things to read and learn from.
- Short and long formats
- Aimed at various experience levels
- Lots of digital content
Regulation and Deposit Protection – Europe-based
The Global ITRADER brand is operated by Bayline Trading Limited which regulated by the Belizean International Financial Services Commission (IFSC) under License No. IFSC/60/322/TS16.
Thanks to stringent requirements for responsible trading from the European bloc, it is mandated by IFSC that brokers need to protect all deposits and keep them segregated from the funds that are paid out to board members and directors and so on. This means that in the unlikely event of insolvency, the majority of deposits will be kept safe and can be redistributed by administrators at a later date. The EU prioritises sustainable securities markets, and this in turn makes the market less liable to suffer shocks.
This suits Global ITRADER as it allows it to operate under a tightly regulated structure, which means that it can encourage traders who want to feel safe about their deposits and know that they are sufficiently protected. Traders operating outside of the EU might not necessarily be legislated as fully as those who are, so it is worth checking up on this.
- Fully covered in Europe
- Has not got worldwide coverage
- Deposit segregation
Awards: Not much coverage
Although Global ITRADER has been in existence since 2012, its website has no description of any awards won in the past. However, the website content as a whole is lacking in complete descriptions of some of its operations.
Despite that, there is an argument to suggest that this is not necessarily just the bad picture that it may appear. Global ITRADER may have decided only to focus on what makes it good, and only wants to be known as a stockbroker with a wide range of stocks. However, the absence of awards still sticks out quite notably simply because almost all other brokers out there have something to shout about, and make a habit of it.
It is not just the website where there is a lack coverage either, with search engines drawing very few results on award wins, which would indicate that it is more than just a case of the broker not working on its website often enough. This alone is enough to raise a few questions.
- No obvious list of award wins
- Nothing comes up in search engines
- This does raise questions
Conclusion
In a broker comparison, it seems clear that Global ITRADER is capable in terms of what it does, but perhaps lacks the marketing acumen to actually talk about it. If you look up its list of stocks, it is notably impressive in terms of the range, and the spreads and margins you get if you move up to a Gold or a Platinum account are indeed tempting.
However, the notable absence of exactly what each of its services provides without reading around the subject, and the fact that there are no FAQs on the website, all points to a general lack of clarity around what it offers. With all this in mind, if you are not a trader who worries about these things, then the sheer list of asset types and ability to create a really diverse portfolio is great. Otherwise, you may feel that another broker is able to tick more boxes.