iTrader – scam or legit in the UK and comparative analysis with IQ Option

itrader scam

According to statistics, Britain has one of the highest living standards and excellent economic indicators. Many people here have a good job and can afford to relax and travel to any country. But a high standard of living has some implications. For example, the high cost of real estate, luxury goods, utilities and other expenses. It turns out that even here people need extra income that will allow them to feel free.

Yes, financial well-being gives freedom, especially if you can earn money any place, any time. Thanks to modern technology, today it can be a reality. There are many sites on the Internet where a British user can start making money with CFDs. The main thing is to choose a good broker who will provide customers with the best benefits. This review will tell you about the iTrader platform and about the reliable companies available to British users.

 History of iTrader

ITrader began its journey to success in 2012. It was then that Hoch Capital limited corporation registered a broker in Cyprus, having received an international license from the regulator CySec (No. 198/13). The multilingual and user-friendly site immediately opened the door to users from various countries, including the UK. The service attracted customers with a wide range of CFD contracts (over 80), as well as good leverage. However, British traders also noted some problems with the withdrawal of funds and large deposits, which increased the entry threshold.

It turned out that the company’s problems are much greater. In 2020, the FCA regulator conducted an independent investigation. The result was that now iTrader trade is disabled for British users. The reason is numerous violations and suspicions of fraud. It turned out that many clients became iTrader traders due to positive feedback from famous people (which they read on forums). The problem is that these reviews were fake and were placed at the request of the company on unverified sites and forums.

Among the violations is the refusal to pay the earned profit to dozens of successful traders (the investigation revealed many such cases), as well as the lack of necessary information that CFDs are a high-risk business, and customers should be careful. On the contrary, the company encouraged transactions with high profitability even at high risks, as well as loans.

The investigation resulted in serious sanctions against the iTrader CFD broker. The British regulator decided to revoke the license and the right to provide services to traders from the UK. Moreover, the service cannot accept new customers and is obliged to return all deposits to users. Today, the iTrader broker is illegal in Britain.
IQ Option for beginners
Trading platform IQ Option

The ideal solution to the problem with CFD trading and iTrader vs. IQ Option is to choose the latter.

Closing the iTrader site is not a problem for UK users. On the contrary, they can become customers of a more convenient and reliable service that will make CFD trading more efficient, and safe. We are talking about the company IQ Option, registered in 2013 on the island of Saint Vincent and the Grenadines. Over seven years, the broker managed to become one of the leaders in the sector, having won the trust of millions of customers (including thousands of British users).

The reason for this success lies in the basic principles that IQ Option adheres to. The user must feel security and comfort, as well as gain full access to information when trading CFDs. This approach has allowed the company to become truly popular – today more than 40 million people are clients of IQ Option. However, popularity is only one of a large list of advantages.

 Legality

IQ Option, like iTrader, is FCA regulated. But, unlike the second company, the license to work in the UK was not revoked. Therefore, IQ Option can legally provide services on the island. Each British trader can be sure of the reliability of the site when registering.

 Safety

The second important advantage is safety. No one wants to be a victim of a scammer when trading CFDs. And IQ Option took care of this – all personal information is encrypted using the dynamic SSL protocol with 256-bit code. Besides, a security team constantly monitors the site and pays attention to suspicious activity. Scam accounts are quickly identified and blocked. Be sure that scammers will not gain access to your account by hacking the database.

 Information

Information – is one of the most valuable resources available in today’s world. News received on time can help make the most profitable deal. The IQ Option website invites all UK traders to visit a special section that contains important news. You can also read analytical articles about popular strategies, tips from professional traders, and information on the risks associated with CFDs. For comparison, the lack of information on the iTrader website became one of the gross violations that led to sanctions and bans.

 Simple entry threshold

Today, the IQ Option service is one of the most popular global brokers. One reason is the small limit on deposits and transactions. Any adult British user can replenish their account with $10 and begin their journey to success. Besides, the platform allows you to make transactions from $1. For comparison, iTrader customers were forced to replenish their deposit with a minimum of $250, and transactions began at $25.

 Website designed for convenience

The official page of IQ Option attracts with a pleasant color scheme. The user-friendly design allows you to engage in trading for a long time without feeling tired – your eyes will perceive information without getting tired. Besides, convenient usability will be clear even to those British users who do not have rich technical experience. Thanks to the high-quality layout, you can quickly go through the registration process, find the desired section, activate a demo account, and make the first deal.

 Demo account

This offer was not only available on IQ Option but also with the iTrader broker. The difference is that this opportunity is available to all customers of the first company, even those who did not replenish the deposit (iTrader allowed users to activate a demo account only after making a deposit). If you activate a demo account, the British user receives 10,000 virtual dollars. Now there are no restrictions – you can make any CFD transactions with any assets, taking into account real quotes. Of course, you will not get real profit, but experience is an excellent advantage. So even a beginner can become a professional trader who understands the dynamics of the market without investing a single dollar.

 Reliable payment systems

When you decide to make the first real deal, you will need to make a deposit. At the disposal of the British trader is a large number of reliable, safe, and convenient systems. IQ Option allows you to replenish your deposit using a bank card (Visa, Maestro, MasterCard), an electronic wallet (Skrill, Neteller, WebMoney, Qiwi, PayPal) or cryptocurrency (Bitcoin). The transaction will not take much time (about 30 minutes).

 Safe payouts

Profit is available for withdrawal in the same way (bank cards, electronic payment systems, cryptocurrency). For security, the first time a British client has to go through a verification process. The user must provide the security service with a copy of his photo documents and wait for identification. The details of the trader are also confirmed. Now you can be sure that the money will come to your account, even if the fraudster intercepts your account password.

 Earn on any asset

The IQ Option platform offers over 40 types of assets, so the British client can earn from what he understands. The user has at his disposal various types of currencies, currency pairs, CFDs, cryptocurrencies, stocks of companies, Forex market, commodities, etc. The choice of the best instrument is up to the trader.

 Individual settings

Another advantage of the IQ Option platform compared to iTrader is a large set of individual settings. Thanks to this tool, trading can become as comfortable and effective as possible. The site allows you to add any signals, indicators, and useful information to the chart. Good graphics and convenient fonts allow you to receive important information on time, analyze it, and close the deal at the right time with maximum profit.

 Excellent earnings

Yes, CFDs are a high-risk business, but are also capable of generating good profits. Even one successful transaction on the IQ Option website will increase the deposit by 60-70%. Moreover, there is such a tool as turbo options, where the expiration time is minimal (from 1 to 5 minutes). Several successful transactions will bring 200-300% of the profit. Some British traders manage to earn a lot of money on the site for a long time.

 Unique tournaments

IQ Option allows you to earn money even without investment. The site regularly holds free tournaments where the prizes are real money. There are also paid tournaments where the ticket price is $4-20. The principle of competition is that each trader receives a deposit of 1000 virtual dollars and tries to get the maximum profit for a certain period. Winners are waiting for great bonuses, gifts, and cash rewards.

 Ability to trade everywhere

Modern technologies allow you to download the IQ Option mobile application to any phone (or tablet) and carry out trading anywhere. The main requirement is a stable Internet connection. Good optimization allows you to work even with a weak signal and quickly show real quotes. The program works with any OS – iOS, Android, and Windows. Moreover, the British user can trade at any time – the IQ Option platform is open around the clock, 24/7.

 Trading robot

Unlike the iTrader platform, the IQ Option website allows you to connect a robot for automated trading. The program is available for download on the official page and is ready to work 24/7. A large set of settings (priority CFDs, expiration time, stop loss, etc.) make trading more efficient because the robot will work around the clock without losing concentration and close deals with millisecond accuracy.

 Premium account

The IQ Option platform is always ready to offer more in comparison with the iTrader broker. For example, a user can purchase a premium account and gain access to a large list of additional benefits. A personal manager can help with advice at any time, there is a transaction insurance option, an increased percentage of profit on transactions, access to privileged tournaments, etc. Together with IQ Option, you get the most effective, convenient, and safe trading.

iq option app
Binarry app IQ Option

 Is iTrader and IQ Option legal in the UK?

It is time to conclude a comparative analysis. The main conclusion is that the company iTrader is inaccessible to the British client and illegal in the country. An investigation by the FCA revealed many significant violations. These are: posting fake reviews on forums, lack of information about the risks associated with CFDs, refusal to pay profit to clients. Today, the website iTrader and other firms of Hoch Capital Limited are officially closed for visiting British users.

IQ Option is an excellent, convenient, and legal (!) Alternative. The service was officially registered in 2013, it holds all the necessary licenses, and guarantees protection and safety to British customers. The company’s activities are regulated by CySEC, and the best confirmation is the excellent reputation of the broker.

 How to delete my iTrader account?

The FCA decree prohibits iTrader from providing services in the UK, as well as ordering all UK traders to close their accounts. If you are a client of the company, check your e-mail (indicated at registration). Most likely, there is a notice marked “iTrader close account”. If there is no letter, contact the security team (email, chat, and phone are available for communication) and ask to delete your profile. Employees are required to comply with this request within 72 hours.

Start a path to success with great broker IQ Option

Now you can become a client of IQ Option – this option is available to all adult British users and takes several minutes.

1.   Click the button to register on the official website;

2.   Fill out the form, indicating personal information (login, password, e-mail);

3.   Read and agree to the terms of service (“Terms & Conditions” and “Privacy Policy”) and agree to them;

4.   Check the e-mail – there is a letter with a welcome link.

By following the link you complete the registration procedure and become a client of the IQ Option platform. Now you can get all the necessary information and begin the path to success and financial independence. IQ Option is at your disposal.

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