Summary: iDealing.com, a UK-based online broker, has garnered mixed reviews from users and financial experts alike. While it is regulated by the Financial Conduct Authority (FCA) and offers a wide range of trading options, concerns about customer service and hidden fees have been raised. Notably, the broker's minimum deposit requirement is appealing, but users have reported difficulties with withdrawals.
Note: It's essential to consider that iDealing.com operates under different entities in various regions, which can affect user experiences and regulatory protections. This review aims to provide a balanced overview based on multiple sources to ensure fairness and accuracy.
Rating Overview
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding the brokers offerings.
Broker Overview
Founded in 2000, iDealing.com is an online brokerage firm based in the United Kingdom, regulated by the Financial Conduct Authority (FCA). The platform primarily focuses on providing access to various financial instruments, including stocks, CFDs, forex, and options. Notably, iDealing.com operates its proprietary trading platform known as the "Ideal Dashboard," which allows users to manage their trades efficiently.
The broker offers a minimum deposit requirement of $0, making it accessible for new traders. However, users have reported mixed experiences regarding customer service and the withdrawal process, with some stating that their funds were difficult to access.
Detailed Section
Regulatory Areas
iDealing.com operates under the regulation of the FCA in the UK, which is known for its stringent oversight of financial services. This regulation provides a level of trust and security for traders. However, the experiences can vary based on the region, as different entities may operate under different regulations.
Deposit/Withdrawal Currencies
The broker primarily supports deposits and withdrawals through bank transfers. While the minimum deposit is notably low at $0, users have expressed concerns regarding withdrawal processes, with some claiming that it took an extended period to receive their funds.
Minimum Deposit
The minimum deposit to start trading with iDealing.com is $0, which is quite appealing for new traders looking to enter the market without significant upfront investment. However, some user reviews suggest that while the initial deposit may be low, hidden fees can accumulate, making trading more expensive than anticipated.
iDealing.com does not prominently advertise any bonuses or promotions in the available reviews. This lack of promotional offers may be a drawback for traders looking for incentives to join a new platform.
Tradable Asset Classes
iDealing.com offers a diverse array of tradable assets, including forex, stocks, options, ETFs, and CFDs. This variety allows traders to build a well-rounded portfolio. However, some users have pointed out that the selection of educational resources is limited, which could be a disadvantage for novice traders seeking guidance.
Costs (Spreads, Fees, Commissions)
The fee structure at iDealing.com includes a basic commission fee of £4.99 per online trade for off-book LSE-listed securities. Users have reported that additional charges, such as withdrawal fees and account closure fees, can be high, leading to dissatisfaction among some customers. According to WikiFX, the broker's pricing is transparent, but users should be aware of the potential for hidden costs.
Leverage
The specific leverage offered by iDealing.com was not detailed in the reviews, which may indicate that it is either standard or varies by the asset class. Traders should verify the leverage options directly with the broker to ensure they align with their trading strategies.
iDealing.com primarily uses its proprietary platform, the Ideal Dashboard, which is designed for both web and mobile trading. The platform provides real-time data and a user-friendly interface, but some reviews suggest that it may not be as robust as other established platforms like MT4 or MT5.
Restricted Regions
While iDealing.com is primarily focused on the UK and European markets, specific restrictions on trading may apply to users from certain countries. It's advisable for prospective traders to check the brokers website or contact customer support for detailed information.
Available Customer Support Languages
iDealing.com offers customer support primarily in English and French. However, user reviews indicate that the responsiveness of customer support is a significant concern, with many users reporting slow or unhelpful responses to their inquiries.
Repeated Rating Overview
Detailed Breakdown
Account Conditions
The account conditions are relatively favorable, with a low minimum deposit. However, the fees associated with withdrawals and account closures can be a drawback, leading to a score of 6.
The tools provided by iDealing.com are functional but lack depth, particularly in educational resources for beginners. This limitation results in a score of 5.
Customer Service and Support
Customer service has received significant criticism, with many users reporting delays and unresponsive support. This has led to a low score of 4 in this category.
Trading Setup (Experience)
The trading experience on the Ideal Dashboard is generally positive, but the lack of advanced platforms like MT4 or MT5 may deter some traders, giving it a score of 6.
Trustworthiness
iDealing.com is regulated by the FCA, which enhances its trustworthiness. However, user complaints about withdrawal issues have tempered this perception, leading to a score of 7.
User Experience
User experiences are mixed, with some praising the platform while others express frustration over customer service and fees. This has resulted in an average score of 5.
Additional Features
The lack of promotional offers and limited educational resources contribute to a lower score of 4 for additional features.
In conclusion, while iDealing.com offers a range of trading options and is regulated by a reputable authority, potential users should carefully consider the mixed reviews regarding customer service and hidden fees before opening an account.
