Trading 212 Overview |
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Founded | 2004 |
Platform | Mobile App iTunes, Mobile App Google Play, Webtrader |
Minimum account size | $150 |
Minimum lot size | 0.000002 |
Tradable assets | more than 700 instruments |
Maximum margin | 1:100 |
Spread on EUR/USD | 0.00009 pips |
Payment methods | Credit/Debit Card, Bank Wire & Skrill |
Demo account | Yes with starting €10000 virtual money |
Accepts South African traders | Yes but not American ones!! |
Regulated | FCA (UK), CySEC (Cyprus), FSC (Bulgaria) |
Support | Email, Phone, & Live Chat |
https://www.trading212.com/
Trading 212 is a London based fintech company that democratises the financial markets with free, smart and easy to use apps, enabling anyone to trade equities, Forex, commodities and more.
they are offering the first zero commission stock trading service in the UK and Europe, unlocking the stock market for millions of people.
their mobile app has more than 14 000 000 downloads, which makes it one of the most popular trading apps in the world.
Since 2016 they have been been the UK’s #1 trading app, and in 2017 we reached the #1 spot in Germany.
We are authorised and regulated by the Financial Conduct Authority (FCA).
Trading 212 is a trading name of Trading 212 UK Ltd. and Trading 212 Ltd.
- Trading 212 UK Ltd. is registered in England and Wales, authorised and regulated by the Financial Conduct Authority, FCA (Register number 609146).
- Trading 212 Ltd. is registered in Bulgaria and is authorised and regulated by the Financial Supervision Commission (Register number RG-03-0237).
For your safety and in compliance with our regulations, all clients’ funds are kept separately in segregated bank accounts and are covered by the Financial Services Compensation Scheme, FSCS (Trading 212 UK Ltd.) and the Investors Compensation Fund, ICF Bulgaria (Trading 212 Ltd).
In the unlikely event of default, the FSCS compensation is up to GBP 85 000 and the ICF Bulgaria compensation is up to 90% (but limited to EUR 20 000) of the client’s funds. Each client will be compensated if one of our companies fails to comply with its obligations to the clients due to its financial state.
this said
Even though Trading 212 has been operating since 2004, this brokerage firm wasn’t able to get a good rating in the reputation category due to their low popularity in the market. In fact, a lot of traders don’t even know they exist and those that do know are unhappy with their service.
Trading Platform
The platforms that they offer are the following: Mobile App iTunes, Mobile phone App Google Play and Webtrader. They load pretty quickly and can be accessed on web browsers or mobile devices.
Designof platform
The platform interface is interesting to use thanks to its well-designed layout.
Minimum Deposit
The $150 minimum deposit is a little higher than what most forex brokers require from their clients. This could be an issue for those who are looking to start with a much lower capital
Minimum Lot Size
With Trading 212, you can use a minimum lot size of 0. 000002 which is much lower than the standard 0. 01 lot size
Tradable Assets
They have a diversity of over 700 tradable instruments which includes forex, commodities, stocks and indices.
Payouts
They offer fixed and floating spreads on a number of currencies. The EUR/USD pair for example has a spread of 0. 00009 pips.
Withdrawal Time
Processing of withdrawals takes up to 3 business days with Trading 212. It’s not the fastest but by comparison, this is still better than the typical waiting time
Deposit and Withdrawal Methods
Credit or debit cards, Bank Wire and Skrill are the payment methods that are accepted by this broker for funding the trading account.
Customer Support
Communicating with the customer support may need a bit of diligence especially during the peak trading hours because you might have to wait for a couple of minutes to be able to talk to one of their agents. This badly needs improvement
Quoting Accuracy
Occasional requotes were experienced through the testing process and this occurred mostly when markets are highly volatile.
Pros
- Over 700 instruments
- 0.000002 minimum lot size
- Tight spreads
Cons
- Support lines are busy most of the time
- Occasional requotes
- Reputation not yet established
- Bonuses cannot be withdrawn
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