InterTrader is a comparatively new spread betting provider but is owned by GVC Holdings PLC, a multinational sports betting and gaming group listed on the London Stock Exchange. For those of you who aren’t aware GVC Holidings PLC is a company listed on the London Stock Exchange with a market capitalisation of over 1 billion and powers such sites like SportingBet, PartyPoker and BWIN.
The InterTrader website itself is uncluttered, and InterTrader offers all the usual spread betting facilities, with free charts and a minimum stake of £1 per point. What sets it apart from other spread betting brokers is a program called TradeBack.
One problem facing spread betting providers is that there is little client loyalty, with traders willing to open new accounts to shave fractions off the spreads, and to benefit from the opening bonuses that many brokers offer. 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.
Now it must be said that this is not for the casual trader, as the program only starts once you exceed £500 in fees per month. With the narrow spread of one point on the FTSE 100, you would have to make 100 spread bets at £5 per point (the minimum is £1 per point) in order to achieve this level. If you trade other markets where the spread is wider, then you would find it easier to reach the threshold for rebates.
But if you are a professional trader, or trying to make spread betting your job, then you will be rewarded for staying with InterTrader. If your spread betting fees are over £5000, then congratulations, you are a platinum loyalty member, and receive a rebate of 10%. For fees less than that but more than £2000, you are at the gold level, and get 7.5% rebate. The level lower than this is referred to as the silver, and as mentioned above starts at £500 in fees, and this qualifies you for a 5% rebate.
Lest it be thought that this is the only reason for considering an account at InterTrader, we should point out that this company offers all the facilities that others do, such as webinar training in fundamental analysis, technical analysis, and trading strategies. In fact, clients at InterTrader get free access to the following tools and packages -:
- IT-Finance ADVANCED CHARTS
The advanced charts give you a wide range of preset indicators, greater freedom to customise the charts to your needs and the power to run complex backtesting against historical price data.
- Live Squawk
Stay in touch with market news headlines throughout the trading day (via text and audio) plus research and video summaries.
- Technical Analysis and Trading Signals
Including target and stop levels, with full research available. The analysis package covers indices, sectors, forex, stocks, bonds and commodities.
At-a-glance guides to the market hotspots, colour-coded for degrees of price movement over the given time period.
- Trailing Stops*
You can now use trailing stops on all of our markets. A trailing stop is a special type of order which limits your risk while helping to lock in your potential profits.
Although the website is streamlined, it appears that it has all the services you would expect, including real-time trading charts with a full array of technical indicators. You can trade on all major indices, the FTSE 250 shares plus selected foreign shares, commodities, Forex, interest rates, and bonds.
Mobile: Yes, in fact InterTrader has recently improved its trading apps for the iPhone and iPad which now come with advanced charting functionality and support a range of orders including stop and limit orders, guaranteed stops, new orders (with contingent stops and limits) and one cancel the other.
The interactive ‘touch’ charts are accessible for all available markets with the functionality to pinch, zoom and scroll through past price data, displayed in preset range of formats. The charts are live and update in real-time as in every price tick. Multiple overlays and technical indicators are supported including Moving Averages, Exponential Moving Average, Bollinger Bands, MACD, RSI and TSI. What is interesting is that the technical indicators update automatically as the live prices change. Chart settings can also be saved as templates which makes it useful for loading fast analysis. An Android trading app is also available which provides similar functionality.
The InterTrader platform can also be used for trading contracts for difference. We like the idea that loyalty is rewarded, and that you do not appear to pay a price in size of spread to pay for it. We rate InterTrader as worth a look, particularly if you are an active trader who could benefit from the rebate program.