Trading 212 Overview
|Platform||Mobile App iTunes, Mobile App Google Play, Webtrader|
|Minimum account size||$150|
|Minimum lot size||0.000002|
|Tradable assets||more than 700 instruments|
|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|
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.
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.
The platform interface is interesting to use thanks to its well-designed layout.
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
They have a diversity of over 700 tradable instruments which includes forex, commodities, stocks and indices.
They offer fixed and floating spreads on a number of currencies. The EUR/USD pair for example has a spread of 0. 00009 pips.
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.
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
Occasional requotes were experienced through the testing process and this occurred mostly when markets are highly volatile.
- Over 700 instruments
- 0.000002 minimum lot size
- Tight spreads
- Support lines are busy most of the time
- Occasional requotes
- Reputation not yet established
- Bonuses cannot be withdrawn