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Trading 212 Review 2020 – Is it Legit?

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Author: Nica

trading 212Are you interested to try Trading 212 forex broker but still want to know more about it before opening an account?

Trading 212 is a forex broker based in the UK that is known for providing a commission-free trading platform. It also provides an array of tradable stocks and assets such as CFDs, forex, commodities, cryptocurrencies and equities. In 2018, it stated that it had a profit of over £25 million.

Read on to find out more about Trading 212’s sign up process, account types, accepted payment and withdrawal methods, fees, limits, trading platforms as well as pros and cons.

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    What is Trading 212?

    Trading Review – Is...

    Trading 212 is regarded as a high performance online-based trading platform that is suitable for both novice and expert traders.

    More than 200,000 traders from 65 countries have traders accounts on Trading 212. Under Avus Capital, it was established in 2004. It was first regulated by the Financial Supervision Commission (FSC). It got its regulatory status in the United Kingdom in 2013 through the license it received from the Financial Conduct Authority.

    After getting its FCA license, it was able to support 11 nation states in the European Union.

    As of June 2019, its mobile app has been reported to have more than 14 million downloads on the Apple App store. It also has 4.5 stars on Apple App Store.

    Lastly, Trading 212 is privately held and owned by Ivan Ashminov and one business partner.

    What are the Pros and Cons of Using Trading 212?

    Pros

    • Offers broad varieties of tradable commodities
    • Full-time customer support
    • Meta trader and cTrader are available on all kinds of devices such as phones, computers, and websites
    • Accredited ECN broker
    • Provides video tutorials and educational materials
    • Quick and easy account opening
    • Small amount of forex fees
    • Free withdrawals and deposits

    Cons

    • Doesn’t provide MT4
    • Slow CFDs execution
    • Doesn’t accept users in US and Belgium at the moment

    Note: Make sure that you know first how trading works and have already mastered some basic trading strategies to minimize the risk of losing your hard-earned money.

    How To Sign Up On Trading 212

    The following are some of the important points to follow when you want to open an account with Trading 212.

    1. Visit its official site at https://www.trading212.com/

    2. Select ‘Open an Account.’

    open account

    3. Provide your personal details.

    personal details

    4. Activate your account using a valid ID and a valid proof of your location.

    5. Deposit and start trading.

    Trading Review – Is...

    What are the Account Types on Trading 212?

    Trading 212 provides three different types of accounts that deal with different instruments. These accounts also have different features and different commission rates based on the stocks that they support. Below are the three accounts provided by this broker.

    account type

    1. Trading 212 Invest Account

    This type of account supports trading in stocks and ETFs. It provides free investing on the same instruments with 0% commission.

    It also offers a brilliant routing system that offers direct execution to the commands the clients need. It a cheap account to maintain since there are no extra costs and zero maintenance fees.

    1. Trading 212 CFD Account

    This account provides clients with trading options such as stocks, commodities, cryptocurrencies and indices.

    It offers tight spreads with the option of stopping losses and taking profits. It also offers no commissions and can protect the clients’ negative balances.

    1. Trading 212 ISA Account

    This account only operates on GBP currency. The FSCS protects up to a maximum of 85,000 GBP of funds on this account. This is done on a tax-free basis, making it cheaper and convenient to maintain this account.

    All the three accounts are easy to open since it only takes up to 15 minutes to do so. Trading 212’s website is very responsive and can guide you in the account opening process.

    Remember though that a fee of $9 is charged per month if you have a dormant account.

    What are Trading 212’s Tradable Securities?

    Trading 212 offers over 1800 tradable markets. The following are some of the assets it offers.

    • 150 pairs of forex
    • Cryptocurrencies like Bitcoin, Ethereum and Ripple
    • Indices
    • Stocks
    • Commodities

    Trading 212 is a rapidly growing broker and therefore offers quite a huge size of tradable markets.

    What are Trading 212’s Special Features?

    Most trading brokers offer Metatrader4 as one of the vital features. However, this is not the case with Trading 212. Instead, it offers a proprietary platform that is also unique and user-friendly for all of their users. The following are some of its special features.

    1. High-quality trade signals

    Trading 212 offers high-quality trade signals with improved graphics to ensure that your technical analysis is well-covered. These graphics support multitasking, allowing you to carry out many operations on the same trading pair. With this, you can carry out trades on both the high and low margins.

    Trading 212 also provides a platform that can be accessed through the website, iOS and Android operating systems.

    2. Traderbird

    This unique feature allows you to copy the trades of a successful trader as you look forward to improving your trade. Also, it will let other traders to copy your investments if you are also doing well and making lots of money from your trading.

    3. Commision-free

    Trading 212 doesn’t charge any commission to all kinds of trades that its traders perform. It also doesn’t charge its traders for all kinds of deposits and withdrawals regardless of the payment methods they use.

    What are the Promotions Run by Trading 212?

    Trading 212 provides bonuses and promotions to its new customers and existing clients. It also rewards its new customers by offering them little deposit requirements.

    In order to qualify for the promotion codes, you must come from one of its supported countries. There are also certain rules you need to comply with for you to qualify for the promotion codes offered by Trading 212. Click here to see the rules.

    The promotion codes can be applied to either a new Trading 212 Invest account or Trading 212 ISA account.

    Once you have accepted the terms of the promo codes, you will receive the codes after three days.

    What is Trading 212 Minimum Deposit Requirement?

    Trading 212 requires a minimum account deposit of $29. This amount, however, varies from the three accounts that this broker offers.

    The Trading 212 ISA and Trading 212 Invest accounts recommend a minimum of 19 GBP while Trading 212 CFD account requires a minimum of $29.

    What Are Trading 212 Trading Platforms?

    Single Proprietary Trading Platform

    Single Proprietary Trading Platform

    Instead of offering MetaTrader 4 or MetaTrader 5 trading platforms, Trading 212 decides to offer a single proprietary trading platform instead.

    Its trading platform offers a variety of useful trading tools. Newbie traders will also like the user-friendliness aspect of the platform. You don’t need to download a program or a software to start trading. You can get access to Trading 212’s trading platform just by using your Google Chrome, Firefox or any kind of browser.

    All the necessary tools that you need for viewing, analyzing, charting and many others can all be accessed on its platform. There is also a real-time news feed and a built-in economic calendar that you can access anytime.

    If you are the type of trader who likes to trader, you’ll be glad to know that Trading 212 offers tradings apps you can use on your Android devices or iPhone.

    How To Trade On Trading 212

    Take note of the following before you go through the process of buying and selling stocks on this platform.

    • Ensure that you have deposited some amount in your account.
    • Find out which asset you want to trade in and check the risk involved with each.
    • Also, check for the complexity and the simplicity of the asset you need to trade in.

    After ensuring that you are good to go, follow the following simple steps to start trading.

    1. After logging in to your account, select the asset you want to trade in.

    2. Choose the asset you wish to trade in.

    3. Initiate the trade box screen by clicking either the buy or sell button.

    trading 212

    4. Fill out the required field then place your order.

    5. Continue to the open positions to check the status of your placed order.

    The above steps are the simple steps to follow when trading on Trading 212. It is important to note that CFDs are quite complex, hence it entails a higher risk of losing your money swiftly if you don’t know what you’re doing. Another reason why you need to be cautious with CFDs is that they are leveraged, making most traders lose money when trading them.

    Which Countries Are Supported by Trading 212?

    Trading 212 accepts almost all countries in the world. This makes it a reliable broker for almost any person in the world.

    The following are some of the top countries that are supported by this broker.

    • Bulgaria
    • Cyprus
    • United Kingdom
    • Denmark
    • Austria
    • Spain
    • Luxembourg
    • France
    • Germany
    • Finland
    • Italy
    • Portugal
    • Latvia
    • Norway and the list is long

    These countries are not supported by Trading 212.

    • US and
    • Belgium

    What Are The Languages Supported By Trading 212?

    This broker offers a wide range of languages from the diversified countries it supports. It is, therefore, easier for anyone from the supported countries to select their language when trading on this broker.

    The languages it supports are derived from the countries that this broker supports.

    How much are Trading 212 Fees And Limits?

    This broker advertises 0% commission on trades while in real terms the commissions differ from the instruments traded.

    A spread is charged when trading with instruments like cryptocurrencies, forex, CFDs, commodities and indices. No commissions will be charged on other instruments like shares and EFTs.

    Like many top-rated brokers, Trading 212 doesn’t publish its spread fees. It doesn’t state the real cost that traders pay each time they make a trade position.

    Payment Methods for Deposits And Withdrawals

    To deposit or withdraw, you can use MasterCard, Visa, Maestro, GiroPay, Skrill, Neteller, Sofort and many more payment options.

    Trading 212 maintains a minimum deposit of $29 on the Trading 212 CFD while the other two accounts ( Trading 212 ISA and Trading 212 Invest)  need a deposit of $19. It doesn’t state the maximum amount that traders can withdraw from their accounts.

    It is cost-free to withdraw and deposit funds from and to your accounts using this broker. Bank transactions might, however, charge some fees for any transaction which is not pegged to this broker.

    How To Withdraw Funds on Trading 212

    Trading 212 permits its clients to withdraw their cash via the payment methods they used to deposit the cash. This is a easier on the broker’s side and in case somebody used multiple methods to deposit, the cash will be withdrawn to his credit/debit card. There are no extra costs and commissions when withdrawing except for some transaction costs associated with bank withdrawals.

    The following steps can help you withdraw funds easily from your trading account.

    withdraw trading 212

    1. Log in to your account with the correct details.

    2. Click the ‘Next Step’ button to continue.

    3. Select your previous deposit method and enter the amount you wish to withdraw.

    4. Place a request by following the simple steps highlighted on the screen.

    The time it will take for you to receive the funds depends solely on the payment method you use. It ranges from one hour to three working days.

    Is Trading 212 Customer Support Good?

    Trading 212 has one of the best customer services a broker should offer. Moreover, its immense and vast knowledge base helps solve almost all queries of their new traders.

    The customer support team communicates to their clients through various channels such as emails, live chats and 24/7  phone communication.

    Regulation and Safety of Funds on Trading 212

    The safety of your funds remains to be a top priority when dealing with brokers. This is the reason why powerful independent regulators take control to make sure that the broker acts fairly and according to the set standards.

    Trading 212 is regulated by three regulatory bodies that govern and oversee spread betting activities.  Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) and Bulgaria’s Financial Supervision Commission (FSC) are the three financial regulators that make sure that this broker is on a check as per the rules.

    The clients’ safety is assured since their funds are kept in an isolated bank and protected by two financial schemes namely the Financial Service Compensation Scheme (FSCS) in Bulgaria and Investor Compensation Fund (ICF) in Cyprus. These two financial schemes can guarantee that your funds are safe with Trading 212 and that no one but you can access the funds.

    However,  reviews for Trading 212 has only been at a score of 69%. This has been improving over time as the company is also continuously correcting some of the issues that its traders have reported before.

    Education, Research and Data

    Trading 212’s team is diligent when it comes to providing their clients with news headlines, market analysis and economic calendars.

    Moreover, it boasts of a great and top-notch library of educational information. It is almost unmatched when it comes to the free  materials that it provides to its traders. Its tutorials and videos also answer most of their new traders’ queries.

    Conclusion

    Trading 212 is a magnificent option for both beginners and the trading gurus. It provides a wide range of instruments to trade from as well as a vast array of payment methods.

    It also follows the strict guidelines set by financial and always goes a notch higher to compensate its clients when the need arises. It also accepts clients from almost all over the world apart from traders based in US and Belgium. It is, however, risky to deal with CFDs on this platform since they are complicated and leveraged.

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    Our Rating

    Trading
    • Trade Stocks, Forex, Crypto and more
    • 0% Commission on Trades
    • Copy Trades of Pro Investors
    • Easy to Use Trading Platform
    Trading
    Disclaimer eToro: 75% of investors lose money when trading CFDs.

    FAQs

    Is it safe to trade with Trading 212?

    You can enjoy safe trading with this broker because it is regulated by financial authorities and has segregated accounts run by compensation schemes.

    What are some of the currencies that this broker accepts?

    This broker accepts 3 kinds of currencies. They are EUR, GBP and USD.

    Is it possible to change the currency of my account?

    Yes. In this case, you will open a new account with the currency you desire then Trading 212 will send your funds to the new account.

    What time can I float some shares?

    You can either buy or sell shares when the UK stock markets are open. They are open from 8am to 4:30. They do not open during weekends and holidays, UK time.

    Can I access real and practice trading accounts using one account?

    Yes. Trading 212 merged these accounts into one account where you can use any account mode you wish.

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    All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
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    Nica is a BA Political Science degree holder who fell in love with writing after college. She specializes in financial technology and cryptocurrency. At her young age, she was already able to work with founders who graduated from Harvard, tech startups funded by Y-Combinator, CEOs of multi-million dollar blockchain companies, investment companies in London and many more.