Scotia iTrade review
Scotia iTrade is a Multi-Assets Trading Platform with over 40,000+ Assets
Scotia iTrade is a multi asset platform with 40,000+ tradable Assets. Assets available on Scotia iTrade include Forex trading, Share Dealing.
Scotia iTrade trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, Share Dealing are considered financial assets.
Features of Scotia iTrade
- Virtual Portfolio, or what is commonly known as a Demo Account
- Scotia iTrade offers Advanced Financial Chart comparison tools
- Scotia iTrade offers Research-backed analysis on financial markets and investments from top analysts
- The Scotia iTrade platform is available to use on multiple devices including Apple Mac computers, and online through a Web Browser.
- Scotia iTrade offers a trading platform with tools for both New Traders and Seasoned Experts
- Scotia iTrade users benefit from using the Scotia iTrade platform in over 15 different languages
Scotia iTrade review
What you should know
Scotia iTrade offer two ways to trade: Forex trading, Share Dealing. The assets and products available to you on the Scotia iTrade trading platform depends on the region of the world, you are in and the Scotia iTrade entity you have an account.
With Scotia iTrade you will need a minimum deposit of $100. 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 considering Scotia iTrade for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Scotia iTrade, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.
Established in 2008, and in operation for 16 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 CIRO (Canadian Investment Regulatory Organization) regulatory bodies.
Scotia iTrade withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like Scotia iTrade are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. Scotia iTrade are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of Scotia iTrade and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. Scotia iTrade has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, Scotia iTrade will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like Scotia iTrade, you can enjoy peace of mind and focus on your trading activities. If Scotia iTrade violate any regulatory rules their regulated status could be stripped.
Your capital is at risk
Is my money safe with Scotia iTrade?
All payments made to Scotia iTrade by traders are securely held in a segregated bank account.
Scotia iTrade uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.
What are Tier 1 banks and why should Scotia iTrade use them?
Scotia iTrade partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Scotia iTrade clients' funds.
Scotia iTrade clients can have greater confidence in their financial security when working with a Tier 1 bank because Scotia iTrade are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.
What does it mean to have your funds in Scotia iTrade deposited in a Tier 1 bank?
Depositing funds with Scotia iTrade ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if Scotia iTrade were to go out of business unexpectedly.
Based on the information presented, it is safe to conclude that Scotia iTrade is a secure and safe platform.
Please be aware that trading in financial assets with Scotia iTrade carries a risk of loss. Scotia iTrade trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, Share Dealing due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.
Scotia iTrade emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about Scotia iTrade, let's closely examine its features.
To better understand the Scotia iTrade trading platform, you can create two separate accounts - one with real money and the other a Scotia iTrade demo account. A Scotia iTrade demo account provides a risk-free environment for experimenting with the Scotia iTrade platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in Scotia iTrade trading decisions.
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.
How Scotia iTrade as a Company Compare Against Other Brokers
Broker | scotiaitrade | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Year Established | 2008 | 2007 | 2009 | 2007 |
Head Office | Canada | Australia | Belize | Cyprus, UK |
Regulation | CIRO (Canadian Investment Regulatory Organization) | Seychelles Financial Services Authority (FSA) (SD018) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 |
Used By | 25,000,000+ Scotia iTrade users | 200,000+ IC Markets users | 730,000+ Roboforex users | 35,000,000+ eToro users |
Negative balance protection | No | Yes | Yes | Yes |
Guaranteed Stop Loss | No | No | No | No |
Learn More | Visit Scotia iTrade | Visit IC Markets | Visit Roboforex | Visit eToro |
Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 51% of retail investor accounts lose money when trading CFDs with this provider. |
Scotia iTrade review
Scotia iTrade Pros and Cons
Scotia iTrade review
Scotia iTrade Regulation and Licensing in more detail
Scotia iTrade is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of Scotia iTrade going into insolvency. Scotia iTrade compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like Scotia iTrade to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for Scotia iTrade traders.
- CIRO (Canadian Investment Regulatory Organization)
Scotia iTrade is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like Scotia iTrade you should be sure they're legitimate online agent.
Is Scotia iTrade Global?
Yes, Scotia iTrade is global as Scotia iTrade is available in over 194 countries.
Scotia iTrade is a global trading platform in the sense that it operates in 194 countries including nations in Africa, Asia, Oceania, and Europe. Major countries Scotia iTrade covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. Scotia iTrade has a total of more than 25,000,000 users.
Scotia iTrade review
Scotia iTrade Awards
Scotia iTrade have won numerious industry awards over the 16 years they have been operating as a financial broker. We have listed the most notable awards and mentions for Scotia iTrade below.
- Best Personalized Experience - Trading Central Digital Wealth Awards - 2023
- SQM’s Call Center Industry Awards of Excellence Program 2022
- Top Online Brokerage - Desktop Experience 2022
Scotia iTrade review
Scotia iTrade Fees Explained
- Scotia iTrade doesn't charge withdrawal fees.
- Scotia iTrade does charge a fee for inactive accounts.
- Scotia iTrade doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from Scotia iTrade are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.
Scotia iTrade Costs To Check
Modern brokers like Scotia iTrade provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Scotia iTrade may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Scotia iTrade trading profitability.
How Scotia iTrade Fees Compare Against Other Brokers
Broker | scotiaitrade | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Min Deposit | 100 | 200 | 10 | 50 |
Withdrawal Fees | No | No | No | Yes |
Inactivity Fees | Yes | No | No | Yes |
Deposit Fees | No | No | No | No |
CFD Commission Fees | Yes | No | Yes |
Scotia iTrade Minimum Deposit
Scotia iTrade requires a minimum deposit of 100 GBP/USD/EUR when opening an Scotia iTrade trading account.
A minimum deposit is the minimum amount of money required by Scotia iTrade to open a new online brokerage account with them.
Don't be scared off by brokers like Scotia iTrade charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.
In the trading world, brokers like Scotia iTrade, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.
Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.
Scotia iTrade Withdrawal Fees
Scotia iTrade doesn't charge withdrawal fees.
Scotia iTrade Withdrawal rules may vary across different brokers when it comes to transferring funds from your Scotia iTrade or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Scotia iTrade may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.
In addition, currency conversion fees may apply if the Scotia iTrade withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Scotia iTrade. Researching and comparing Scotia iTrade withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Scotia iTrade funds frequently or dealing with large sums of money. Awareness of these Scotia iTrade fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Scotia iTrade funds.
For example, Scotia iTrade allows you to withdraw your funds to Bill payment, Wire Transfer, Bank Transfer, Cheque, Debit Cards, Credit Cards, VISA, MasterCards.
Scotia iTrade Inactivity Fees
Scotia iTrade does charge a fee for inactive accounts.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Scotia iTrade terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.
Make sure you're fully aware of all Scotia iTrade fees and services. It's recommended that you check the Scotia iTrade website before signing up. If you decide to close your Scotia iTrade account, it's important to do so with the Scotia iTrade broker customer support and obtain confirmation that no remaining Scotia iTrade fees are due.
Brokers like Scotia iTrade must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.
Scotia iTrade Deposit Fees
Scotia iTrade does not charge deposit fees. Although bank / 3rd party merchant fees may apply.
Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.
Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.
Scotia iTrade Commission Fees
Scotia iTrade does charge commission on CFD instruments.
Brokerage firms like Scotia iTrade may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Scotia iTrade trading account level held by the trader.
Scotia iTrade may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Scotia iTrade terms and conditions to understand the commission fees and any other charges that may apply is essential.
Scotia iTrade review
What can you trade with Scotia iTrade?
It's essential to note that the trading instruments offered under the Scotia iTrade brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Scotia iTrade trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can trade a wide variety of instruments with Scotia iTrade over 40,000 instruments in fact.
If you want to trade currency pairs on global Forex markets, Scotia iTrade offer over currency pairs.
Scotia iTrade Compared To Other Brokers
Compare Scotia iTrade with IC Markets and Roboforex below.
How Scotia iTrade Trading Options Compare Against Other Brokers
Broker | scotiaitrade | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Instruments Available | 40,000 | 2250 | 12000 | 6000 |
Platforms | iTRADE App, Mobile Apps, Android (Google Play), iOS (App Store), Web | MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central | MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows | eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web |
FX / Currencies | ||||
Forex pairs offered | 61 | 35 | 50 | |
Major Forex pairs | Yes | Yes | Yes | Yes |
Minor Forex pairs | No | Yes | Yes | Yes |
Exotic Forex pairs | No | Yes | Yes | Yes |
Cryptocurrencies (availability subject to regulation) | No | Yes | No | Yes |
Commodity CFDs | ||||
Commodities Offered | 0 | 20 | 21 | 31 |
Metals | No | Yes | Yes | Yes |
Energies | No | Yes | No | Yes |
Agricultural | No | Yes | No | Yes |
Indiced & Stock CFDs | ||||
Stocks Offered | 2100 | 0 | 2042 | |
UK Shares | No | Yes | Yes | Yes |
US Shares | No | Yes | Yes | Yes |
German Shares | No | Yes | Yes | Yes |
Japanese Shares | No | Yes | Yes | Yes |
Risk Warning |
Visit Scotia iTrade
Your capital is at risk |
Visit IC Markets
Losses can exceed deposits |
Visit Roboforex
Losses can exceed deposits |
Visit eToro
51% of retail investor accounts lose money when trading CFDs with this provider. |
Scotia iTrade review
Trading on Scotia iTrade web platforms and other applications
Scotia iTrade provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.
A 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 trading apps help you stay on top of your trades and execute them on the go.
See Scotia iTrade's platformsIs the Scotia iTrade Trading Platform Secure?
You should take the security of your personal information seriously and check SSL encryption is enabled on the Scotia iTrade trading platform to protect you on PC and mobile Scotia iTrade platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Scotia iTrade web trading platforms.
Scotia iTrade Trading Platform Options
Scotia iTrade does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.
Scotia iTrade offers its custom trading platform developed and tested in-house. The Scotia iTrade trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.
The Scotia iTrade platform allows traders to filter the financial marketplace for trade opportunities that match criteria.
With Scotia iTrade, you can examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Scotia iTrade platform, including news and quotes. Discover possible trades with the strong charting tools found with Scotia iTrade. Scotia iTrade is available as downloadable applications or online through the cloud. Monitor your orders with Scotia iTrade and receive breaking news in your positions.
Scotia iTrade Trading benefits
- Scotia iTrade Low min deposit
Scotia iTrade Trading Accounts Offered
Below we give an overview of the account types that Scotia iTrade offer. Whatever you are looking to trade, the varying Scotia iTrade account types will be able to provide you with what you need.
- Scotia iTrade Demo account
- Scotia iTrade Standard account
Can I try Scotia iTrade?
Scotia iTrade provides a demo account that enables individuals to explore trading before investing their funds. By creating a Scotia iTrade practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Scotia iTrade demo account can help individuals to make informed decisions before investing their money.
Open a demo Scotia iTrade account to practice and trade.
Your capital is at risk
Scotia iTrade withdrawal and funding methods
It's essential to remember that the payment methods provided by Scotia iTrade vary based on the Scotia iTrade entity and the Scotia iTrade client's country of residence. To view the Scotia iTrade payment options available, you can log into your Scotia iTrade member's area.
Scotia iTrade offers various funding payment methods listed in your Scotia iTrade dashboard if available in your region. To learn more about the Scotia iTrade funding and withdrawal options available in your area, you can explore the Scotia iTrade website.
Scotia iTrade provides several payment methods for funding your Scotia iTrade account. You may utilize any of these deposit options if they are available in your region. Scotia iTrade ensures that users have multiple payment methods to choose from, making it more convenient for verified Scotia iTrade account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Scotia iTrade user's location. learn more about Scotia iTrade funding and withdrawal methods.Scotia iTrade Payment Methods
Some Scotia iTrade payment methods are local and are available only to specific regions. Scotia iTrade account holders should check which payment methods are provided in your region.- Scotia iTrade accepts Bill payment
- Scotia iTrade accepts Wire Transfer
- Scotia iTrade accepts Bank Transfer
- Scotia iTrade accepts Cheque
- Scotia iTrade accepts Debit Cards
- Scotia iTrade accepts Credit Cards
- Scotia iTrade accepts VISA
- Scotia iTrade accepts MasterCards
Broker | scotiaitrade | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Bank transfer | Yes | Yes | Yes | Yes |
Credit Cards | Yes | Yes | No | Yes |
Paypal | No | Yes | No | Yes |
Skrill | No | Yes | Yes | Yes |
Payoneer | No | No | No | No |
Neteller | No | Yes | Yes | Yes |
*please note available Scotia iTrade and other broker payment methods depend on the clients country of residence.
How can I start trading with Scotia iTrade?
To open a trading account with Scotia iTrade, individuals can sign up on the Scotia iTrade website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.
The next step involves submitting identification documents for Scotia iTrade account validation and making a deposit. Once completed, Scotia iTrade users can download the trading platform of their choice.
It's important to note that Scotia iTrade requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Scotia iTrade maintain a trustworthy financial environment for its 25,000,000 users. Detailed information on the Scotia iTrade trading platforms is available on their website.
Your capital is at risk
Performing trades with Scotia iTrade
When using Scotia iTrade, the minimum trade size is typically $ 4.99 units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. Scotia iTrade have a max trade of varies.
Scotia iTrade, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades. Market makers like Scotia iTrade can be useful for traders starting or with limited capital.
Like other brokers, Scotia iTrade margin requirements can differ depending on the traded instrument.
Education Resources at Scotia iTrade
Scotia iTrade offer educational resources which include Webinars, Learning Center. Please bear in mind that these resources provided by Scotia iTrade do not guarantee any results when trading. When we checked on the Scotia iTrade website, these educational resources were not available in every language. Also some financial instruments mentioned in any Scotia iTrade educational resources may not be available in your region.
To trade effectively with Scotia iTrade, it's important to have a good understanding of the Scotia iTrade trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with Scotia iTrade and externally.
Scotia iTrade . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Scotia iTrade. Familiarizing yourself with the Scotia iTrade trading platform is crucial to use it effectively.
While learning, you can also use global trading times to practice making live buy or sell trades using Scotia iTrade. This hands-on experience can help you gain confidence and become more comfortable with trading.
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Scotia iTrade involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
Learning about the financial markets, trading platforms like Scotia iTrade, and risk management techniques can help you become a more confident and successful trader.
Take an analytical approach to trading with Scotia iTrade. Explore the Scotia iTrade platform and train yourself to think systematically and logically about the markets.
While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Scotia iTrade, before live trading.
Customer Support at Scotia iTrade
As part of our Scotia iTrade review, we review customer service options, response times and problem resolution effectiveness on the Scotia iTrade trading platform. The Scotia iTrade trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
Scotia iTrade Available Support Types
Based on our experience, we have given Scotia iTrade a D grade for customer support. We encountered some slow response times or Scotia iTrade queries that were left unanswered.
Compared to other brokers, Scotia iTrade offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.
email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.Livechat Support at Scotia iTrade
Our team tested the live chat support of Scotia iTrade and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.
In addition, we tested Scotia iTrade support services in various countries and languages and found that Scotia iTrade were able to effectively resolve our customer issues.
Email Support at Scotia iTrade
We tested the email support of Scotia iTrade by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any Scotia iTrade response.
The Scotia iTrade team did resolve and answer our queries, but the email support from Scotia iTrade was overall average compared to other brokers we have tested.
Phone Support at Scotia iTrade
We contacted Scotia iTrade via phone and received quick assistance within 10 minutes of our call.
The Scotia iTrade phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by Scotia iTrade and found that they could assist us in various languages.
While we found the Scotia iTrade phone support satisfactory, there is room for improvement in response time.
See how Scotia iTrade Support Compares Against Other Brokers
Broker | scotiaitrade | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Support |
|
|
|
|
Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, German, Spanish, French, Italian |
Learn More | Visit Scotia iTrade | Visit IC Markets | Visit Roboforex | Visit eToro |
Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 51% of retail investor accounts lose money when trading CFDs with this provider. |
What you will need to open an account with Scotia iTrade
As Scotia iTrade is regulated by CIRO (Canadian Investment Regulatory Organization).
As a new client of Scotia iTrade, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Scotia iTrade in your region. During the Scotia iTrade account opening process, you will be asked to provide Scotia iTrade with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.
When registering with Scotia iTrade have the following documents available.
- Scotia iTrade require a scanned colour copy of your passport, driver's license or national ID card.
- A recent utility bill or bank statement that confirms your residential address for Scotia iTrade compliance. This must be dated within the last six months.
- If you plan to fund your Scotia iTrade account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Scotia iTrade platform.
It's worth noting that the expiration date of the proof of address document may differ for different entities under Scotia iTrade Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Scotia iTrade's platform.
However, remember that you won't be able to make trades on Scotia iTrade until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Scotia iTrade KYC compliance process as soon as possible to avoid any delays in accessing the Scotia iTrade platform's features.
It is important to note that Scotia iTrade may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Scotia iTrade platform and features immediately. However, you must pass the verification process to start live trading with Scotia iTrade, which can take up to a few business days.
To start the process of opening an account with Scotia iTrade you can visit the Scotia iTrade trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.
CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://www.scotiaitrade.com/ on November 11, 2024.
Watch this Scotia iTrade Explainer Video
Is Scotia iTrade A Good Broker?
We have spent over 5 years examining Scotia iTrade in depth. Although we found some very useful aspects of the Scotia iTrade platform that would be useful to some traders. We feel that a alternative to Scotia iTrade may better suit you.
- Scotia iTrade have a good track record of offering Forex trading, Share Dealing.
- Scotia iTrade has a history of over 16 years.
- Scotia iTrade has a reasonable sized customer support of at least 10.
- Scotia iTrade are regulated by the CIRO (Canadian Investment Regulatory Organization). Scotia iTrade is subject to strict regulatory oversight from its respective jurisdiction, which holds Scotia iTrade (the broker) accountable for misconduct. This regulatory framework helps ensure that Scotia iTrade operates fairly and transparently and provides Scotia iTrade customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and Scotia iTrade.
- Scotia iTrade have regulation from reputable regulators.
- One of the advantages of using Scotia iTrade is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from Scotia iTrade are particularly important as Scotia iTrade traders want to receive their money quickly. With the efficient Scotia iTrade payment processing system, traders can enjoy faster access to their Scotia iTrade funds.
- Scotia iTrade have an international presence in multiple countries. Including local Scotia iTrade seminars and training.
- Scotia iTrade can hire people from various locations in the world who can better communicate in your local language.
Scotia iTrade Risk Disclosure
Your capital is at risk
Trading Risk Disclaimer
Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.
You will be exposed to a high risk of loss regarding leverage and margin-based trading.
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.
Scotia iTrade not quite right?
If after reading this Scotia iTrade review, Scotia iTrade does not fulfill your needs check out these Scotia iTrade Alternatives.
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After extensive research over several years, we have compiled a list of the most effective Scotia iTrade alternatives available today. If you are unsatisfied with Scotia iTrade or want to explore other options, we recommend checking out our carefully curated list of highly-rated Scotia iTrade alternatives. Follow the links below to learn more about these Scotia iTrade broker alternatives and choose the one that best suits your trading needs.
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Related Scotia iTrade Vs Comparisons
Throughout our comprehensive Scotia iTrade review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.
If you're interested in comparing Scotia iTrade against other popular brokers in the industry, check out our Scotia iTrade Vs pages. Our team has compiled a series of detailed Scotia iTrade comparison articles, pitting the Scotia iTrade platform against some of the best-rated Scotia iTrade competitors in the market. Dive into our informative Scotia iTrade Vs pages below to find out how Scotia iTrade stacks up against other leading brokers.
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Scotia iTrade review
SCOTIA ITRADE Frequently Asked Questions
Read our detailed Scotia iTrade FAQ Section updated for 2024.
Can I try Scotia iTrade?
Scotia iTrade offer a demo account so you can try the Scotia iTrade platform with virtual trading before you put down a payment. Virtual trading with Scotia iTrade is zero risk. Learn more here
What funding methods do Scotia iTrade accept?
Please note that the list of payment methods below depends on the Scotia iTrade Entity and the client's Country of Residence.
Scotia iTrade offer the following funding payment methods Bill payment, Wire Transfer, Bank Transfer, Cheque, Debit Cards, Credit Cards, VISA, MasterCards, among other payment methods.
Learn more here
Is Scotia iTrade safe?
Scotia iTrade have over 25,000,000 users. Scotia iTrade are considered reliable as they are regulated by and checked for conduct by the CIRO (Canadian Investment Regulatory Organization). 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 bank's financial health and strength.Trading with Scotia iTrade is risky, and because the market is so volatile, losses could happen at any time. Do not invest with Scotia iTrade unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Your capital is at risk
Is Scotia iTrade trading good?
Scotia iTrade is considered good and reputable to trade with Scotia iTrade. Scotia iTrade is used by over 25,000,000 traders and Scotia iTrade users. Scotia iTrade offers Forex trading, and Share Dealing trading. Minimum deposit with Scotia iTrade is 100.
Is Scotia iTrade trading Legit?
Scotia iTrade was founded in Canada in 2008. Scotia iTrade has been facilitating trade on the financial markets for over 16 years. Scotia iTrade offers clients Forex trading, and Share Dealing trading. All funds deposited to Scotia iTrade are held in segregated bank accounts for security. Scotia iTrade is regulated by CIRO (Canadian Investment Regulatory Organization) so can be considered legit.
Is Scotia iTrade a good broker?
Scotia iTrade allows Forex trading, and Share Dealing trading. Scotia iTrade is overseen by the top tier financial regulators CIRO (Canadian Investment Regulatory Organization) so can be considered a good broker.
Is Scotia iTrade trustworthy broker?
Scotia iTrade is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to Scotia iTrade, money is in a segregated bank account that is separate from Scotia iTrade company's funds. As a regulated broker, Scotia iTrade cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by Scotia iTrade. Instead, your Scotia iTrade funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with Scotia iTrade. Also Scotia iTrade is regulated in its local jurisdictions including major financial regulators like CIRO (Canadian Investment Regulatory Organization).
What is the minimum deposit for Scotia iTrade?
The minimum deposit to trade with Scotia iTrade is 100.
How long do Scotia iTrade withdrawals take?
Withdrawing money from Scotia iTrade processing time varies depending on the method but averages 1-5 days.
Is Scotia iTrade regulated?
Scotia iTrade is regulated by the CIRO (Canadian Investment Regulatory Organization). Regulatory bodies conduct regular reviews and audits as part of Scotia iTrade maintaining their regulatory status. You can learn more about these reviews on the regulator websites.
Is Scotia iTrade a market maker?
Scotia iTrade is not a market maker. A market maker speeds up trading as a market maker will purchase or sell your stocks and commodities even if a buyer or seller is not lined up.
How can I start trading with Scotia iTrade?
When opening a trading account with Scotia iTrade, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on Scotia iTrade trading platforms, you can follow the link provided below: Learn more about signing up with the Scotia iTrade trading platform here. This will provide useful information and insights into the various trading platforms offered by Scotia iTrade, enabling you to make an informed decision about which platform to choose for your trading needs.
Is my money safe with Scotia iTrade?
Yes your money is safe with Scotia iTrade.
Overall, strict financial regulation is essential for ensuring that trading platforms like Scotia iTrade operate fairly, transparently, and responsibly, which ultimately benefits all Scotia iTrade stakeholders involved.
Trading platforms like Scotia iTrade must have strict financial regulation for several reasons:
- Protecting Scotia iTrade Investors: Strict financial regulation ensures that investors who use the Scotia iTrade trading platform are protected against fraudulent or unethical behavior by the Scotia iTrade platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the Scotia iTrade platform.
- Maintaining Scotia iTrade Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the Scotia iTrade trading platform. Regulatory procedures reduce the likelihood of the Scotia iTrade platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
- Enhancing Scotia iTrade Transparency: Regulations require trading platforms like Scotia iTrade to maintain detailed records and disclose Scotia iTrade client information. Financial regulatory requirements enhances transparency and helps to build trust between the Scotia iTrade platform and its investors.
Scotia iTrade is regulated by the CIRO (Canadian Investment Regulatory Organization). When selecting a broker such as Scotia iTrade, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, Scotia iTrade ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like Scotia iTrade.
Is Scotia iTrade a con?
Scotia iTrade is regulated and well established, having been in business for over 16 years. Scotia iTrade is not a con.
Can you make money with Scotia iTrade?
Although traders have had great success with Scotia iTrade, trading on the financial markets with Scotia iTrade is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.
Does Scotia iTrade have fees?
Scotia iTrade doesn't charge withdrawal fees. Scotia iTrade does charge a fee for inactive accounts. Scotia iTrade doesn't charge deposit fees.
When was Scotia iTrade founded?
Scotia iTrade was founded in 2008.
How many people use Scotia iTrade?
Scotia iTrade is used by over 25,000,000 registered Scotia iTrade users.
What is Scotia iTrade Headquarters country?
Scotia iTrade has its head quarters office in Canada .
Does Scotia iTrade offer negative balance protection?
Scotia iTrade does not offer negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.
Does Scotia iTrade offer guaranteed stop loss?
Scotia iTrade does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.
Does Scotia iTrade allow scalping?
Scotia iTrade does not offer scalping.
Does Scotia iTrade allow hedging?
Scotia iTrade does not offer hedging.
Does Scotia iTrade offer CFD trading?
Scotia iTrade does not offer CFD trading.
Does Scotia iTrade offer STP?
Scotia iTrade does not offer STP trading.
How many people use Scotia iTrade?
Scotia iTrade is used by over 25000000 Scotia iTrade users and traders.
Is Scotia iTrade an ECN broker?
Scotia iTrade does not offer ECN trading.
Does Scotia iTrade offer a demo account?
Scotia iTrade offers a demo account.
Does Scotia iTrade offer an Islamic account?
Scotia iTrade does not offer Islamic accounts.
What are the funding methods for Scotia iTrade?
Please note that funding methods and options available with Scotia iTrade can be found in the Scotia iTrade Members area and depend on the Scotia iTrade client’s country of residence. Please check your specific available payment methods on the Scotia iTrade website. Scotia iTrade accept the following funding methods : Bill payment, Wire Transfer, Bank Transfer, Cheque, Debit Cards, Credit Cards, VISA, MasterCards.