Compare InterTrader to alternative brokers
According to InterTrader’s website they are the number 1 value for money in the spread betting and CFD industry for the third year in a row. So there you go. But since that last award, they have moved away from the old LCG white label and are now owned by GVC holdings who own brands like bwin, sporting bet, party poker and foxy bingo.
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Compare InterTrader against other: Spread betting brokers – CFD brokers – MT4 brokers – Forex brokers
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|With IG, you can choose to trade more than 80 currency pairs – from majors, such as GBP/USD to exotics such as HUF/EUR. You can trade these forex pairs via CFDs or spread bets.||Get spreads from just 0.6 points on pairs like EUR/USD with the UK’s No.1 FX provider.|| Open Account |
Your capital is at risk. 76% of retail CFD accounts lose money
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|Trade 61+ currency pairs with deep liquidity with pricing from multiple sources.||Get some of the lowest forex spreads on the market with raw spreads from 0.0 pips on Razor accounts||Read Tamas Szabo CEO Interview||Open Account 79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider|
|Fineco||Trade 50+ Global Forex pairs Forex pairs with Fineco||Fineco Forex spread are as low as, GBP/USD 1, EUR/USD 0.8, EUR/GBP 1||Open Account 70.50% of retail investor accounts lose money due to CFD trading with FinecoBank|
|Interactive Brokers gives forex traders access to 23 spot fx pairs including 23 Trading Currencies Including USD, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, ZAR and KRW||IBKR provides direct access to FX interbank quotes with no hidden pricing, markup or rebates. Commission is charged per trade dependent on account size||Open Account 64% of retail investor accounts lose money when trading CFDs with IBKR|
|Trade 48 currency pairs, 24 hours, 5 days a week, micro-lot trading available||Low forex spreads from 0.1 pips on EURUSD, 0.3 pips on GBPUSD and 0.02 on AUDUSD.||Open Account 79% of retail investor accounts lose money when trading CFDs with this provider|
|Speculate on over 60 currency pairs with advanced technical analysis tools including Pattern Recognition, ProTrend Lines and advanced indicators plus drawing tools||Low spreads from 0.6 pts on EUR/USD and 0.9 pts on GBP/USD with 24 hour trading on most FX markets||Open Account 69% of retail investors lose money when trading spread bets and CFDs with this provider|
|Trade FX CFDs on 60+ Forex Pairs like EUR/USD, GBP/USD and EUR/GBP with up to 1:30 leverage||Variable Forex spreads on currency markets. Plus500 does not charge additional Forex dealing commissions.||Coming Soon||Open Account 76.4% of retail investor accounts lose money when trading CFDs with this provider|
|Trade on 84 global FX pairs like EUR/USD, GBP/USD and USD/JPY at City Index with fast execution and tight spreads||Trade forex CFDs, DFT or spread bets with tight spreads from 0.5pts on major FX pairs||Coming Soon||Open Account 74% of retail investor accounts lose money when trading CFDs with this provider|
|Trade CFDs on 47 of the most popular currency pairs with trades based in USD with eToro Forex||Forex spreads are variable and trading costs are built into the price. Daily finance is charged on overnight positions.||Open Account 75% of retail investor accounts lose money when trading CFDs with this provider|
|Access 182 FX pairs across majors, minors and exotics, plus spot metals, from only 0.4 pips||Ultra-competitive FX spreads and trade major FX pairs from 0.4 pips. Competitive entry prices and even lower rates for active forex traders.||Read Andrew Edwards CEO Interview||Open Account 70% of retail investor accounts lose money when trading CFDs with this provider|
What’s the point of Market Neutral Execution?
And more importantly why is it important for InterTrader? If you don’t know what “market neutral execution” is (and why should you it’s a pretty dull phrase) it means that your broker is not betting against you. So when you place a trade the broker goes into the market or to liquidity providers and hedges the positions. So if you buy the FTSE the broker buys the FTSE on your behalf (or to the best of its ability if you are trading in really small sizes).
Some brokers run what is called a B-Book which means that the make money when a client loses money, in other words, they are taking the other side of the clients bet. The FCA recently came out ans said that 83% of clients actually lose money when trading so presumably it makes more sense for a broker to take a risk and assume that it’s more profitable to bet against clients who trade with small amounts of money rather than take a minute commission.
For example, if a client opens an account with £1,000, puts on 30 trades of £5 per point on the FTSE and loses all his money except for £250 the revenue potential for brokers is this.
- If the broker has a 1 point spread on the FTSE the spread revenue is £5 per trade so £150 gross excluding trading and hedging costs.
- If the broker runs a B-Book bets against the customer then the broker earns £750 gross excluding costs (£1,000 minus the £250 left in the account).
So, it’s much more profitable to make money by betting against the customer. Which is how bookies make money. For example the types of brands that GVC run.
Therefore InterTrader presumably make a big deal about how they are market neutral as trading is supposed to be investing, not gambling.
InterTrader Main Competitors
|Trading & Investing||Spread Betting||Forex Trading||Currency Transfers|
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InterTrader is a British based spread betting company but is also operates in other European countries – namely Germany, France and Spain.
Started in 2010, this UK spread betting broker won the EGR 2011 award as spread betting operator of the year, and as part of London Capital Group, is regulated by the Financial Services Authority.
Shai Heffetz, head of financial spread betting and CFD at InterTrader, talking about tight spreads, explains: “TradeBack is InterTrader’s way of trying to counter that trend. It is simply a monthly rebate program, from which you can get back some of the fees you have been charged, in effect making the already tight spreads even smaller.”
InterTrader Trading Platforms
InterTrader offers free use of their two white label platforms and mobile trading apps.
The InterTrader web-based platform is a tried and tested place for spread betting that encompasses thousands of markets. This provides, amongst other services; live charts, fast execution, no requotes, free research packages, flexible order handling and guaranteed stops, and it is easy to use.
InterTrader Direct enhanced MT4 platform is new, and offers automated processing via ECN/STP.
InterTrader Mobile Trading has dedicated apps for a range of devices including iPad, iPhone and Android, and these offer pretty much the same as the main web-based platform with the addition of mobile account management. (Obviously, execution speed will depend on mobile provider, phone etc.)
They offer spread betting, CFDs, (commission-free trade, with only a small additional spread from 0.05% for major UK shares), on equities, indices, forex, shares, interest rates, bonds and commodities to name only a few.
A relatively new player in this financial world, InterTrader do however differ from other financial spread betting brokers by providing a feature called ‘Tradeback’, where they give customers up to 10% of the trading costs back, (this is based on over £500 spread fees per month), so win or lose, you will at least recoup something if you bet often. When comparing spread betting brokers, this is one reason for choosing InterTrader rather than others in the same field. The more you bet the bigger the rebate, thus encouraging clients to stay with Intertrader.
They have a ‘learn to spread bet academy’, as well as a host of other research and training tools. While most of the big boys in spread betting also ‘teach new clients’ this one, (and Selftrade Markets), actually tells you what the terms used mean, without making beginners go elsewhere to learn the meaning of a word.
Comparing spread betting brokers shows another difference between InterTrader and other spread betting companies, in that the ‘lessons’ from this firm incorporate real-life examples. The reason for this is their aim to make financial markets affordable and understandable for everyone – and they manage to do it – more so than other financial spread betting brokers.
They also offer ‘tight fixed spreads’ of 1 point, although this is pretty normal and some, such as Capital Spreads and IG, offer less. One advantage is that InterTrader spreads are fixed, and overall, even though slightly higher than some, this will offer results that are just as good as any.
With InterTrader a stop order is automatically attached to an order as a safeguard. They have Live Squawk which gives news via text or audio during the day, heatmaps for ‘at a glance price movement’ and all the usual charts etc. and a minimum stake of £1 per point.
In a spread betting brokers comparison, while the Intertrader spreads are not as tight as other companies, their Tradeback can offset this difference, and the fact they want to keep clients in this way is a good thing.
InterTrader Company History
InterTrader was founded in 2010 as the financial offering from bwin.party who operate online gambling websites in the bingo, poker and casino space. InterTrader uses the excellent platform from London Capital Group and offer a good all round account with good bonuses and welcome offers.
InterTrader Key Features
- Good platform
- Tight spreads
- Trader rebate program
- One of the best welcome bonuses around
InterTrader Range of Markets
- Around 3,000 products to trade
- Indices, FOREX, Equities, Commodities and Fixed Income
InterTrader Spread Width
- EURUSD: 0.7 pips
- GBPUSD: 0.9 pips
- Wall Street: 1 point
- FTSE 100: 1 Point
InterTrader Plus Points
- Simple platform
- Big brand name
InterTrader Negative Points
- Owned by a gambling firm