InterTrader is owned by GVC Group – a multi-national trading company listed on the London Stock Exchange with a market valuation of over 2 billion at the time of writing (February 2017). InterTrader have recently underwent a major restructuring to become a leading player in financial spread betting with the launch of the new revamped InterTrader trading platform.
InterTrader ticks all the right boxes for new spread bettors. It offers the tightest FTSE spreads available, keeping your costs to a minimum. Plus, all the profits you make from financial spread betting are tax-free. InterTrader offers spread betting from £1 per point, so you don’t have to invest heavily to spread bet. Here, you can get started from as little as £1 per point, with an initial deposit requirement from as little as £30.
What’s their pitch?
InterTrader allows clients to trade in many financial products using one of the several major currencies from one platform. It also offers a limited margin policy, where clients are required to deposit only the maximum value of their stop-loss (plus 20%). This means that large sums of capital are not tied up funding the spread betting account. It also says it offers ‘extremely’ tight spreads and offers them for far longer than many of its competitors. For instance, forex spreads are typically kept tight all through the day, so traders won’t see the spreads widening considerably overnight as might be the case with other spread trading firms. InterTrader has multiple markets – you can trade currencies, commodities, FX and bonds in rising or falling markets. The company also offers many UK, European, US as well as other global equities. Trading apps for the iPhone, iPad and Android devices are also available.
Here’s what they say -:
- Competitively tight spreads – our Rolling Daily FTSE, Wall St, DAX & EUR/USD are just 1 tick, GBP/USD 2 ticks and Brent Crude 4 ticks during market hours.*
- We provide better value trading by keeping our spreads narrower for longer. For example, our FX spreads remain fixed** throughout our 24 hour trading hours;
- Not only are our dealing spreads incredibly tight, but our minimum margins are exceptionally low. Deposit just £30 to make a £1 Rolling Daily FTSE bet or 3% on FTSE 100 equities & 5% on FTSE 250 & US equities.
- Risk Management Tools – protect yourself with our guaranteed stops, view market information for charges.
- Online education tools including a free demo account and trading tools to assist with your trading;
- In our latest client survey in 2012, 95% of respondents agreed that we are “easy to do business with”;
- We are part of a highly capitalised and debt free company meaning you can trade safely and securely in the knowledge that all client money is held in segregated accounts in accordance with the FSA’s client money rules.
1 point spreads
The spread on our EUR/USD rolling daily is 1 point from Sunday 23:00 until Friday 21:15. That’s 1 point all day and night. InterTrader claims that its FX spreads don’t fluctuate most of the times. It also quotes a 1 point spread on the popular UK 100 index and interestingly client surveys found out that 86% would recommend the trading service that the company provides.
This new service not only alerts you when a market you’re watching signals it’s the right time to enter or exit, but also gives you the tools to test your trading strategies before you risk a penny of your own money.
Allow yourself the freedom to trade away from your computer with all the flexibility of the online platform with our trading apps for the iPhone and Android.
The mobile product has proved to be one of InterTrader’s most popular enhancements permitting clients to monitor the markets (and your positions) from wherever they happen to be. The new charting package has also proved to be very popular – last October they claim to have sent 213,429 separate email chart trigger alerts set up by clients to give notice of trading events.
Anything for newbies?
A nice interactive tutorial, and a load of other learning tools: ‘take a tour’, user manual, FAQs section, free seminars plus the usual practice account stuffed with 10,000 practice pounds.
InterTrader also make available a number of regular webinars for clients. If you are looking to reinforce your understanding of how financial spread betting works, you will find these webinars very useful. This webinars cover many topics of interest to traders, such as monitoring your account, margin and dealing with risk, introduction to fundamental analysis and technical analysis.
Verdict: I also have a InterTrader account and I have to say that I find it the cleanest and easiest interface for someone new to spread betting. I’d say InterTrader is a “safe” environment for spread betting. Stops are always on there and it is easy to use.