Inter Trader Review

Published by Filipe R. Costa on Wed, 25/05/2011 - 12:30
inter trader

Inter Trader is part of the bwin.party family. The group has a long history in the entertainment and gaming industry and was formed from the merger between two giants: bwin Interactive Entertainment AG (Austria) and Party Gaming Plc (UK).

Company Overview

To expand from entertainment to financial markets, bwin.party created Inter Trader partnering with London Capital Group (LCG), which is one of the leading UK financial services providers. With all those names behind Inter Trader, the final product had to be very good. It mixes the financial knowledge of LCG with the energetic and vigorous attitude gaming companies usually have. Tight spreads, fast and precise dealing, good phone and email support, and, finally, some good promotions. We should also add that this company runs several webinars that are free for clients and are an excellent educational resource.

Range of Markets

Inter Trader offers everything it is common to see in a spread betting provider: shares, indices, foreign exchange, commodities and also interest rates and bonds. Let's take a closer look into each category:

Shares– The largest offer is centered in the UK market. You can trade shares from FTSE 100, FTSE 250, FTSE 350, and also many FTSE small caps. If you want to trade other markets, there is a selection of shares from the US, Germany, France, Holland, Sweden, Denmark, Norway, South Africa, Ireland, and India. Every time there is an important IPO, they open a new market for you to trade. This is the case for the recent Linkedin and Glencore IPOs.

Indices – There is a large choice on indices. You can trade the major world indices like FTSE 100, Dax 30, Dow 30, Nasdaq 100, S&P 500, CAC 40, Nikkei 225. There is also a good choice of less common country indices from Swiss, Sweden, Ireland, China, Australia, and some other countries. For the main indices you usually have a choice of trading the rolling spread and one or two futures option.

Forex– Foreign currencies are the preference of chartists, that will find Euro, cable, swissy, aussie, loonie, ninja, and more major pairs and crosses at Inter Trader. To complete the offer there are many minor and exotic options. As example I can refer: GBP/NZD, GBP/ZAR, USD/PLN.

Commodities– Because of its volatility, commodities are usually targeted by spread betters. Inter Trader offers markets for US Crude, Brent Crude, Gold, Gas, Heating Oil, Silver, and Copper. Bets are also possible in soft commodities like Coffee, Soybean, Sugar, Orange Juice, Cotton, and some more.

Bonds and Interest Rates- To complete the list, Inter Trader offers trading in Government bonds and interest rate products. Available markets are: Bund, Gilt, Bobl, US 10y, US 30y, Euribor, Euroswiss, Eurodollar and Short Sterling.

Spreads, Margins & Minimum Stakes

The most important part of spread betting is the spread. Day traders need very tight spreads, and even casual traders need decent spreads otherwise it is very difficult to overcome them and make a profit. Margins are also an important part since the lower they are, the more a trader can stake and less the funds he needs in his account. As for minimum stakes, usually they are set at £1 but some providers have less than that and others require more for certain markets. The following table summarises all the relevant information for inter Trader:

Spreads, initial Margins and Minimum Stakes
  Spread Initial Margin Minimum Stake
INDICES      
FTSE 100 1 30 £1
Dow 30 2 50 £1
Nasdaq 100 2 20 £1
S&P 500 4 50 £1
Nikkei 225 10   £1
Dax 30 1 50 £1
SHARES      
FTSE 100 0.10% 3% £1
FTSE 250 0.25% 5% £1
Major US 0.10% 5% £1
Major European 0.20% 5% £1
FOREX      
GBP/USD 2 60 £1
EUR/USD 1 40 £1
EUR/GBP 1 40 £1
USD/JPY 1 40 £1
COMMODITIES      
Gold 4 100 £1
Brent Crude 5 130 £1
US Crude 5 130 £1
BONDS / INTEREST RATES      
Bund 3    
US 10Y 4    
Gilt Future 3    
Euribor 3    

 

Inter Trader is currently running a reward program to loyal clients offering a rebate of up to 10% of trading costs. For the most active traders this is a very welcome offer.

Trading Hours

Trading occurs continuously between Sunday 22:00 till Friday 21:15 UK time.

Platform Review

Inter Trader offers a web-based platform without any need to download software saving time and allowing you to connect from any computer including mac or linux-based. If you are on the road, then you may connect your iPhone or Android-enabled phone to your account and make everything you do on the web-based platform.

The software is very well organized making it easy to access and search for any market. You can also create your watch lists, check the latest news, study trading signals, and read charts. The trading window is easy to use and you can set your stake, a stop level and also a limit order. Inter Trader gives you the option to guarantee your stops, but as with almost all providers, it has a cost.

Every morning, Inter Trader send you an email with all relevant financial information about the previous day, including equities, forex and commodities prices and changes, and a summary of the relevant events.

Account Opening and Money Matters

A new account is opened in a matter of minutes. You have to fill an online form, send some requested documents, and they will approve you for trading in a few hours or less. There is no minimum deposit required, and you can fund your account using a debit or credit card or via bank transfer or cheque. Like I said in the beginning, expect some promotions from this company. Inter Trader will offer you a 10% bonus on your initial deposit up to £1,000. If you deposit £10,000 you will trade with £11,000. To benefit from this you need to claim your bonus in five days, and the deposit that counts can be a series of deposits instead of just one, as long as no more than five days elapse.

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