Scotia iTrade Review for 2019

Scotia iTrade Rated 3/5
Scotia iTrade have a low rating. We recommend you look at one of their alternative brokers.
Good alternatives to Scotia iTrade

Scotia iTrade Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Scotia iTrade we break down the pros and cons. What Scotia iTrade are able to offer, what countries Scotia iTrade are available in. Who Scotia iTrade are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Open Scotia iTrade's Website

As with any investment your capital is at risk, losses can exceed deposits.

At the bottom of this review you can also learn about some pretty good alternatives to Scotia iTrade

With this review we hope to help you see if Scotia iTrade is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Scotia iTrade that will help you get off to a good start in the world of online trading.

Scotia iTrade what you should know

Scotia iTrade offer two ways to trade: Forex trading, Share Dealing.

With Scotia iTrade you will need a minimum deposit of $0. You can sign up for a demo account to acquaint yourself with Scotia iTrade platform.

Scotia iTrade are able to accommodate various levels of traders whether you are experienced or a beginner.


Are Scotia iTrade safe?

When choosing a broker like Scotia iTrade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in , and in operation for 2019 years Scotia iTrade have a head office in Canada.

Scotia iTrade is regulated. This means Scotia iTrade are supervised by and is checked for conduct by the Investment Industry Regulatory Organization of Canada regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Scotia iTrade, this will be honored. If Scotia iTrade violate any regulatory rules their regulated status could be stripped.

Any payments funded to Scotia iTrade accounts by traders are held in a segregated bank account.

For added security Scotia iTrade use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Scotia iTrade. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Scotia iTrade

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What we like

  • Used by over 10,000 traders
  • Established in
  • Regulated by Investment Industry Regulatory Organization of Canada
  • Min. deposit from $0
  • unlimited demo account

What we don't like

Scotia iTrade General Fees

  • Scotia iTrade withdrawal fees varies on payment method
  • Scotia iTrade does charge inactivity fees

Scotia iTrade Commissions

  • Scotia iTrade does charge commission on CFD shares

What can you trade with Scotia iTrade?

You can trade a wide variety of instruments with Scotia iTrade over 201 instruments infact.

If you are looking at trading currency pairs Scotia iTrade offer over currency pairs.

Compare Scotia iTrade with Interactive Brokers and XTB below.

FX / Currencies scotiaitrade IB XTB
# of forex pairs offered 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs No Yes
Exotic forex pairs No Yes
Cryptocurrencies No No Yes
Commodity CFDs Scotia iTrade Interactive Brokers XTB
# of commodities offered 0
Metals No Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs Scotia iTrade Interactive Brokers XTB
# of Stocks offered 1500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
scotiaitrade's
Instruments
IB's
Instruments
XTB's
Instruments

Trading on Scotia iTrade web platforms and other applications

Scotia iTrade offer a user-friendly custom trading platform, available as both a downloadable program or as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here.

An Scotia iTrade IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Scotia iTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See scotiaitrade's platforms

Scotia iTrade Trading benefits :

  • Low min deposit

Scotia iTrade Trading Accounts offered:

  • Standard account

Can I try Scotia iTrade before I buy?

Scotia iTrade offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

What funding methods do Scotia iTrade accept?

Scotia iTrade offer the below funding payment methods. learn more about Scotia iTrade

  • Credit cards
  • PayPal
  • Skrill
  • Neteller

How can I start trading with Scotia iTrade?

When opening a trading account with Scotia iTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Scotia iTrade trading platforms here.

Performing trades with Scotia iTrade

Scotia iTrade allow you to execute a minimum of trade of $ 4.99. This may vary depending on the account you open. Scotia iTrade allow you to execute a maxium trade of varies.

As a market maker, Scotia iTrade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, Scotia iTrade offer margin up to % on currencies.

Support at Scotia iTrade

Scotia iTrade support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

What you will need to open an account with Scotia iTrade

As Scotia iTrade is regulated by Investment Industry Regulatory Organization of Canada, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Scotia iTrade's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Scotia iTrade you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.scotiaitrade.com/ on 12th August 2018.

SCOTIA ITRADE Frequently Asked Questions

Can I try Scotia iTrade before I buy?

Scotia iTrade do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do Scotia iTrade accept?

Scotia iTrade offer the below funding payment methods accept Credit cards, PayPal, Skrill, Neteller, among other payment methods. Learn more here

How can I start trading with Scotia iTrade?

When opening a trading account with Scotia iTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Scotia iTrade trading platforms here.

Is my money safe with Scotia iTrade?

Scotia iTrade is regulated by Investment Industry Regulatory Organization of Canada. One of the most important criteria for traders when choosing a broker like Scotia iTrade is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Scotia iTrade, this will be honored. If they violate any regulatory rules their regulated status can be stripped.