Click ‘Create your account’ and submit the online application form. With online ID verification (automatically confirming your identity without the need to send any documents) your account could be set up in as little as 10 minutes.
You’ll receive an email from us to say your account has been opened or to explain why we may need further information or documentation from you.
Both spread betting and CFD trading allow you to go long or short of financial markets while putting down a margin deposit rather than the full value of your position. InterTrader offers both spread betting and CFDs with market-neutral execution.
With a spread betting account you bet a certain amount per point movement in the market price, and make or lose that amount for each point the price rises or falls. All bets are made in your account currency regardless of the currency of the underlying market. (More on spread betting.)
With a CFD trading account you buy or sell a certain number of contracts which mirror the risk/return of making a physical trade in the market. You trade in the currency of the underlying market and your profit or loss is converted into your account currency if necessary. (More on CFD trading.)
Spread betting is exempt from UK capital gains tax and stamp duty, but you should note that this product is only available for UK clients. CFDs are subject to UK capital gains tax but are exempt from stamp duty, and you can offset any losses against other income in the tax year. You should always remember, however, that tax laws are subject to change.
Online ID verification can remove the need for extensive documentation (depending on your country of origin), but please have the following essential information to hand before proceeding with your application:
In addition to this, if we cannot confirm your identity electronically, we will email you with details of the documents we require to activate your account.
All spread betting accounts are denominated in sterling (GBP), and all your spread betting trades will be made in sterling.
For CFD trading accounts, you will set your account currency when you open your account. All trades will be made in the currency of the underlying market (e.g. USD for US equities) and your profit or loss will be converted into your account currency if necessary.
You will always deposit and withdraw funds in your account currency.
InterTrader is a trading name of InterTrader Limited which is authorised and regulated by the Gibraltar Financial Services Commission (GFSC) and registered with the Financial Conduct Authority (FCA) in the UK, ref 597312. The GFSC is modelled on the FCA and maintains the same high regulatory standards, combined with the flexibility appropriate to a smaller jurisdiction.
As a customer of an authorised financial services company, any funds you deposit with us are protected by the Gibraltar Investor Compensation Scheme (GICS). In addition to this bwin.party holdings Ltd has granted a parental guarantee indemnifying all client funds held by InterTrader Ltd to ensure your funds are protected in full.
Yes. Click ‘Open a free demo’ and you’ll be able to create a demo account either for our web-based platform or for MT4. With a demo account you can make virtual trades at live market prices and get a feel for trading with InterTrader.
For the web-based platform demo, you log in via our website (making sure to click ‘Demo Sign In’) while for the MT4 demo you download the MT4 platform and use your demo login details the first time you open the platform.
You don’t have to make a deposit when you open your live account. If you have an MT4 account, however, we do ask that you keep a minimum deposit of £500 (or the equivalent currency amount) on your account before you start trading with InterTrader.
Whether you’re using the web-based platform or MT4, you can withdraw your funds whenever you like, so long as they are not supporting an open position. To calculate the minimum deposit required to open an individual trade, please see ‘How much do I need on my account to open a position?’ below or refer to our Market Info tables.
First, find the market you want to trade on our web-based platform, then open a trading ticket. Enter the size of your trade (stake per point or number of CFDs) and click BUY to open a long position or SELL to open a short position.
You can choose to add a stop-loss order and/or a limit order to your new position by completing these fields in the trading ticket. Once your trade is executed you’ll receive an on-screen confirmation and the new position will appear in the bottom window under Open Positions.
For further details on the trades and orders you can place with our web-based platform please see our User Manual.
MT4 is a download-only platform that combines online trading, technical analysis and the ability to automate your trading strategy via expert advisors (EAs). You can even customise your own trading tools using the MQL4 programming language.
You can either use the standard MT4 interface or our customised Direct MT4 terminal (click here for details of how to activate the terminal).
To open a position on the standard interface, double-click an instrument name in the Market Watch window, or select a market and click New Order on the top toolbar. Then complete the trading ticket and click Buy or Sell to deal at the current price. Select Pending Order in the trading ticket if you want to set a conditional trigger price at which you want to buy or sell. For more information go to MT4 Basics.
To open a position on the Direct MT4 terminal, click the Trade button next to the market listing, then complete the New Order ticket, specifying whether you want to Buy or Sell. Click the Place Order button to deal at the current price. Click the Order button next to the market listing if you want to place a conditional order at your preferred trigger price. For more information go to MetaTrader 4.
Find the position in the bottom window and click the Close button. This will bring up a closing ticket prepopulated with the trade required to close this position. Simply click the active button (BUY or SELL) to close your position.
You can also close a position by placing a new trade in the opposite direction to your existing trade on a market. For more details see our User Manual.
To close a position on the standard MT4 interface, double-click the position in the Terminal window and an Order window will appear prepopulated with the trade required to close the position. For more information go to MT4 Basics.
To close a position on the Direct MT4 terminal, simply find the position in the bottom window, which shows all your trading activity. Click the cross (in a red circle) next to the position and it will immediately be closed at the current price. For more information go to MetaTrader 4.
One great benefit of using MT4 is that there is a vast online community of users and developers on whose skills and experience you can draw. The support is there whether you simply want to place your first trades, learn how to customise your own indicators and set up automated trading using the MQL4 language, or find new expert advisors (EAs) to apply to your trading.
On the web-based platform you can attach a stop-loss and/or a limit order to your position either when you open it or once it is already open. You can also choose to make your stop a trailing stop (whereby your stop level adjusts automatically if your position runs into profit), and you can edit your stops and limits on open positions within the platform.
To open new positions at specific market prices, you can use new orders. When you create a new order you specify whether the order will remain active for the day, until a precise time or until it is cancelled. You can also attach a stop and/or a limit order to a new order.
On MT4 you can use stop and limit orders (referred to as ‘take profit’ orders) in the same way, and open new positions with new orders (referred to as ‘pending’ orders). If you use the Direct MT4 terminal you can set up a one-closes-all (OCA) group of new orders such that, if one of the orders is triggered, the remaining orders in the group are cancelled.
You can make your stop a trailing stop on MT4, either in the classic interface or the Direct MT4 terminal, but you should note that trailing stops are only active while MT4 is running, and when you close the platform your stop will remain active only as a normal non-trailing stop. Likewise, OCA rules only apply while the platform is open.
If the market you are trading is listed as Rolling Daily then your position will automatically ‘roll’ over at the end of one trading day to the next, along with any orders attached to the position. An ‘overnight financing’ charge (which may be a debit or a credit) is applied to your account to reflect the interest cost of holding your position overnight (see ‘What is overnight financing?’ below).
If you are trading a futures contract this will have an explicit expiry date and time listed in the contract details. You can either close the position before expiry or let it close automatically at the expiry time. In this event any running profit/loss will be realised based on the last quoted price. There is no overnight financing for positions on futures as the price automatically factors in time to expiry and interest costs.
If you have a position on a futures contract (on the web-based platform) which is nearing its expiry time and you wish to let it roll over to the next contract period, please call us on +44 203 364 5189. If you don’t leave a rollover instruction with us the position will expire automatically at the expiry time at the last quoted price.
Please note that you cannot request to roll futures contracts on the MT4 platform. Instead you can manually close your current position before expiry and open a position in the next available futures contract for that market – contact us when you have done this and we’ll refund half the spread cost of your closing trade.
You can trade with InterTrader 24 hours a day from Sunday 23:00 to Friday 21:15, UK time. Individual markets have their own trading hours (as stated in our Market Info tables) but you should note that we offer extended hours on many markets, trading even when the underlying exchanges are closed.
Forex trading is also available 24 hours a day throughout the trading week.
You can use our web-based platform or MT4 to trade on your account wherever you can get an internet connection. You should note however that, if you are using our platforms when you are abroad, you will be subject to local jurisdiction. For instance, if you are travelling in the US you should note that spread betting and CFD trading are prohibited in the US.
Web-based platform users can also use our mobile apps for iPhone, iPad and Android devices to trade and manage your account wherever you are. There is also a range of MT4 mobile apps available for MT4 users.
InterTrader is a 100% market-neutral broker. This means that, every time we take a trade from a client, we automatically mirror that trade in full in the underlying market. In this way we constantly offset our market risk, so we are market-neutral.
As a market-neutral broker we never stand to gain if you lose, or vice versa. We have no conflict of interest and are simply concerned with increasing the volume of trades passing through our platform.
Although our system is No Dealing Desk we still provide a personal service. We have a fully staffed customer service and operations team, so there’s always someone you can talk to, and if you have any technical issues you can close your trade over the phone.
Price improvement, also known as ‘positive slippage’, occurs in fast-moving markets when the price changes between the time you place your trade, or your order is triggered, and the time your trade or order is executed. In this case we won’t reject your trade or order, we will simply execute it at the better price.
For greater accuracy when trading forex, and to reflect the interbank market, we quote many forex pairs to an extra digit (i.e. tenths of a pip). You will see this as a smaller digit to the right of the price in the trading ticket.
Your unit risk (i.e. stake per point for spread betting) is still based on the pip, but the extra digit allows you to sharpen your profit in fractions of a pip.
Each new position on your account requires a deposit, known as margin. To calculate the margin required to open a position you multiply our published margin rate (which differs by market) by the overall value of your position.
So if you want to buy £10/point of UK 100 (Rolling Daily) at 6800, and the margin rate for this market is 0.5%, your margin requirement will be (£10 x 6800) x 0.5% = £340.
When you enter your trade size on the trading ticket in our web-based platform, you’ll be able to see your margin requirement at the bottom of the ticket before you click BUY or SELL.
Please note that, in the MT4 contract details, margin rates are expressed in terms of the leverage ratio rather than a percentage, but these are simply two different ways of calculating the same amount. For example, a leverage ratio of 100:1 equals a margin rate of 1%, while a leverage ratio of 200:1 equals a margin rate of 0.5%.
For more details about margin calculations, and the margin rates for specific markets, please see our Market Info tables.
As a stop-loss order places a (non-guaranteed) limit on your potential losses, attaching a stop to a new position can reduce your margin requirement.
When a stop is attached to a position your margin requirement will be 50% of the standard requirement, plus your risk per point multiplied by your stop distance (so long as this is less than the standard margin).
So in the above example, if you attach a stop 10 points from your opening level, your margin requirement will be: 50% x £340 + (£10 x 10) = £270.
For more details about margin calculations please see our Market Info tables.
You can deposit funds to your account by bank transfer, by debit or credit card, or by Skrill. Due to money laundering regulations we must only accept deposits from your own bank or card accounts, not those of a third party.
By bank transfer:
For GBP, EUR or USD deposits please use the following bank details:
Bank: RBS Gibraltar
Account Name: InterTrader Ltd re TTE Client Segregated A/C
Address: 47/63 Line Wall Road, Gibraltar
Sort Code: 60-95-44
Account Number: 9544-39117900
Please ensure you use your full name and InterTrader account number as a reference. if this is not included in the transmission, there could be a considerable delay in applying the funds to your trading account.
To combat money laundering, we cannot accept cash deposited into our bank account. Any funds credited in this way will not be added to your account and will not be refunded. Please be aware that any deposits of cash into our accounts by any client may generate an enquiry to the relevant authorities.
Some international transfers will incur a fee charged by your bank. Any charges will come out of the amount that you transfer and therefore we will only credit your account with the funds that we receive. We cannot be held accountable for any bank charges.
By debit or credit card:
You can deposit by a card and make online payments in GBP, EUR or USD via the My Account section of the web-based platform. Our online payments system is powered by Worldpay, one of the world’s leading payment companies. Worldpay is compliant with the PCI DSS and is on the MasterCard and Visa Compliant Service Provider lists.
Skrill is an online wallet for secure payments, authorised and regulated by the Financial Conduct Authority.
You will need to have an account with Skrill, which can be easily created at www.skrill.com. Please fund your Skrill account and then access your My Account area:
After you select to pay by Skrill, confirm the amount you would like to transfer from your Skrill account. You will then be redirected to the secure Skrill gateway where you can log into your Skrill account and complete the payment by confirming your date of birth.
Skrill deposits are instant, after your Skrill account has been verified. Please note that, while you can upload funds to your Skrill wallet for free, when you transfer funds from your Skrill wallet to InterTrader, Skrill will charge 2.7% of the transferred amount.
Card payments are protected by Verified by Visa and MasterCard SecureCode. These secure payment protocols are known collectively as 3-D Secure, designed to reduce the possibility of card fraud.
If you have not already enrolled in these services, you will be directed to a secure screen by your card issuer when you make your first payment. The information that you enter is not disclosed to InterTrader.
Each further payment will be protected by the same mechanism via your card issuer, before you are seamlessly returned to our payments page to complete your transaction.
To withdraw funds from your account please access the My Account are of our web-based platform and select Request Withdrawal. Alternatively you can contact us at firstname.lastname@example.org or +44 203 364 5189 and we will advise you how to withdraw funds.
Funds must be returned to their original source, so if you made your initial deposit by bank transfer funds must be returned to your bank, while if you made your initial deposit by card funds must be returned to the card (if possible, otherwise we will return funds to the bank account associated with the card).
We will process your refund as quickly as possible and usually within 24 hours (where we have all the details in place), but you should note that your bank or card provider may take up to three to five days to return the funds to your account. If you haven’t received your funds please contact us at email@example.com or +44 203 364 5189.
Also please note that we cannot make refunds to MasterCard. If you have deposited funds via MasterCard and then request a withdrawal, we will make the refund to your nominated bank account. We will contact you for evidence of your bank account.
Skrill withdrawals could take up to 24 hours. Skrill will charge 1% of the total amount for withdrawing funds to your Skrill wallet. For instance, if you withdraw €10,000 the Skrill charge will be €100.
Please note that Skrill will also charge you €2.95 (or the equivalent currency amount) to withdraw funds from your Skrill wallet to your bank account.
To avoid excessive transaction costs, InterTrader reserves the right to refuse individual withdrawals under £50/€50/$50 unless this is to close your account. Please contact us at firstname.lastname@example.org or +44 203 364 5189 if you have any problems withdrawing funds.
The spread is the difference between the bid price (the price at which you can sell a market) and the ask price (the price at which you can buy a market). This difference is effectively your cost of trading a market.
This will typically include both the spread of the underlying market and our own dealing spread, although in the case of forex CFDs on the MT4 platform we will quote just the underlying market spread and take our dealing charge in the form of a commission per trade.
As we carry no market risk, we don’t make more or less money whether your trade makes a profit or a loss. We make money solely from our dealing charge per trade, as built into the spread you pay (or commission in the case of forex CFDs on MT4).
We believe that, the happier you are with our trading service, the more you’ll be inclined to trade with us, which will increase our revenue from dealing charges. You get the benefits of market-neutral execution, and if that encourages you to trade more we make money too.
If you hold a position in an undated (Rolling Daily) contract open overnight a small debit or credit will be applied each day to represent the interest cost of holding a margined position.
This adjustment is known as overnight financing, or the swap rate, and is calculated as a debit for long positions and as a credit for short positions, although you should take note of the reverse effect of negative adjustments.
For a position held on a Wednesday to a Thursday, financing will be applied for three days, known as ‘triple swap’. This is because the settlement date of a spot market is two days after the transaction date, and adjustments are incurred for weekend days. So rolling a position to a Thursday pushes the settlement date from the Friday to the following Monday, an extra two days.
Financing charges are taken or credited as and when they are incurred, while any profits or losses on a position are only realised when the position is closed.
The overnight financing for an undated (Rolling Daily) contract can be calculated using this formula:
F = [(P / U) x R x I] / B
F = overnight financing
P = closing price
U = unit exposure
R = risk per point/pip
I = applicable interest rate
B = day basis (365)
Applicable interest rates
Shares and indices: The applicable interest rate for shares and indices is LIBOR + 2.5% for long positions, or LIBOR – 2.5% for short positions. If you are long of a stock or index, this equates to real market cash exposure and so interest will be charged on this cash value for each day that the position is held open overnight. If you are short of a stock or index, an interest return will be paid on these equivalent cash funds.
Forex: The applicable interest rate is calculated as the central bank interest rate corresponding to the second-named currency minus the central bank interest rate corresponding to the first-named currency, + 1% for long positions or – 1% for short positions. For example, the applicable interest rate for EUR/USD will be the US federal funds rate minus the ECB rate, +/– 1%.
This is the smallest movement on the relevant contract that equates to a profit/loss change equal to your risk per point/pip. For example, on GBP/USD a movement of 0.0001 in the price would mean a profit/loss shift on your trade of the full risk per pip and so the unit exposure would be 0.0001.
Note: While overnight financing is debited on a long position and credited on a short position, this may (for example when interest rates are very low) give a negative figure. For indices a negative figure on a short position would result in a debit (while a negative figure on a long position is impossible). For forex a negative figure would result in a credit to a long position or a debit to a short position.
Examples based on current interest rates (January 2016)
Short £1/pip GBP/USD at 1.52257
[(1.52257 / 0.0001) x £1 x (0.5% – 0.5% – 1%)] / 365 = –£0.42 credit (i.e. £0.42 debit)
Long £1/pip GBP/USD at 1.52257
[(1.52257 / 0.0001) x £1 x (0.5% – 0.5% + 1%)] / 365 = £0.42 debit
Long £1/pip AUD/USD at 0.71404
[(0.71404 / 0.0001) x £1 x (0.5% – 2% + 1%)] / 365 = –£0.10 debit (i.e. £0.10 credit)
Short £10/point Vodafone at 224.51
[(224.51 / 1) x £10 x (0.5% – 2.5%)] / 365 = –£0.12 credit (i.e. £0.12 debit)
Long £1/point UK 100 at 6473.50
[(6473.50 / 1) x £1 x (0.5% + 2.5%)] / 365 = £0.53 debit
Short £1/point UK 100 at 6473.50
[(6473.50 / 1) x £1 x (0.5% – 2.5%)] / 365 = –£0.35 credit (i.e. £0.35 debit)
Note that, in the last example, if LIBOR was higher you could receive a credit on a short position. For example, if LIBOR was 4%:
Short £1/point UK 100 at 6473.50
[(6473.50 / 1) x £1 x (4% – 2.5%)] / 365 = £0.27 credit
Please note that for CFDs the charge is calculated in the market currency and converted into your account currency. The charge for a position will of course vary from day to day according to the closing price of the market.
Another way to look at the calculation is using the market exposure. For example, if you are long 1 CFD of GBP/USD at 1.52257 (on the web-based platform) your market exposure is $15,225.70 (as each CFD contract on the web-based platform is the equivalent of 10,000 of the base currency). The applicable interest rate for this position is 1%, so the overnight financing will be 1% x $15,225.70 / 365 = $0.42. This debit is then converted into your account currency if necessary.
If you have an open position on a stock when it goes ex-dividend, we will make an adjustment to your account equal to the size of the dividend.
If you have a long position this adjustment will be credited to your account, subject to a 20% ‘haircut’ to cover tax and other charges. If you have a short position this adjustment will be debited from your account.
For instance, if you are long £10/point (the equivalent of 1000 shares) of Vodafone and the announced dividend is 8p per share, we will credit your account with (8p x 1000) x 80% = £64. If you are short £10/point we will debit 8p x 1000 = £80 from your account.
The price of a stock typically falls by the amount of the expected dividend following a dividend announcement, as anyone now purchasing shares will not qualify for the dividend payment. This price shift will also directly affect the level of any index of which that stock is a constituent, from the time that the stock goes ex-dividend.
If you have an open position on any such index, we will make cash adjustments to your account to reflect the resulting change in value (in full, without any deductions) on the ex-dividend date. This will be a credit on long positions and a debit on short positions.
In certain cases, companies may make other specific payments to shareholders, in addition to scheduled dividend payments. Where this happens we will make the relevant cash adjustments on the applicable date, to clients holding positions in a relevant stock or index.
In the bottom window of the web-based platform you can view your live trades under the Open Positions tab and your active orders under the Opening Orders tab. For each entry you can see your opening or entry level, the current market level and other relevant details.
Click the Amend button next to any trade or order to make adjustments, or click Cancel to delete an order or Close to bring up a closing ticket.
Click the Statement tab in the bottom window of the web-based platform to show all trades and adjustments made on your account for up to the last 90 days.
Click the Order History tab to show all the orders you have placed for up to the last 90 days.
Or click the Account Activity tab to see a log of all actions performed on your account during the current trading day.
The My Account area of the web-based platform gives you the ability to change your account password.
For changes of address or email please contact our team at email@example.com or +44 203 364 5189. It is vitally important that we have your correct email address, so that you can receive trade confirmations, and your current physical address.
We will need to see a recent utility bill or bank statement to your new address to verify your new details.
Please see our full Client Complaint Procedure. In the first instance we would ask you to contact our team at firstname.lastname@example.org or +44 203 364 5189 to discuss your complaint. If you are not satisfied with their response you can raise a formal complaint with our Compliance Team (full details of which can be found in the Client Complaint Procedure).
Our web-based platform is compatible with Microsoft Windows 2000 through to Windows 10, and with Apple Mac systems. For optimum performance you should you have at least a 1.8 GHz Pentium 4 processor (or the equivalent) with at least 512MB RAM.
As the platform is web-based it requires a broadband internet connection. While it can be accessed via most browsers we would recommend Google Chrome, Mozilla Firefox or Apple Safari to achieve the best performance.
Yes, our web-based platform does use session cookies to ensure smooth performance, and if you have not enabled cookies you will not be able to log in.
To enable cookies:
CHROME – click the top-right menu, select ‘Settings’, then ‘Show advanced settings’, then ‘Content settings’ (under Privacy). Select ‘Allow local data to be set’.
FIREFOX – click the top-left menu, select ‘Options’, then ‘Options’ again, then the ‘Privacy’ panel. Under History select ‘Remember history’ or ‘Use custom settings’.
SAFARI – click the top-right menu, select ‘Preferences’, then the ‘Privacy’ panel. Under Block Cookies select ‘Never’ or ‘From third parties and advertisers’.
Our web-based platform is designed to be compatible with most firewalls. However, if you are experiencing poor performance on the platform you may want to temporarily disable your firewall, then log in again. If you find that performance then improves please contact us with details of your firewall package via Live Chat, email@example.com or +44 203 364 5189.
To run MT4 you should be using Windows 2000 or later, with a 2.0 GHz or faster CPU, and at least 512 MB RAM (although 1 GB is recommended). You should have a screen resolution of 1024 x 768 or higher, and an internet connection speed of 56 kbps or faster.