What is trading212.com? Why do those who use it find it very useful? Is it one that you should start using today, and can you recommend it to your friends and family members? We are about to find out about that and more in today’s review which will take the following outline:
- What is trading212.com?
- Which assets and markets are offered by trading212.com?
- The spreads and commissions on this platform
- Leverage offered on trading212.com
- The mobile app versions offered by trading212.com?
- Account types offered at Trading 212
- The payment methods allowed on this brokerage
- Is Trading 212 regulated?
- Is trading212.com genuine or is it a scam?
- Pros and cons
Name of the platform: Trading 212
Official Website URL: https://www.trading212.com/
Overall Rating: (4.3 / 5)
What is trading212.com?
Trading 212 exists as a popular online brokerage that aims to make forex and securities trading more accessible to traders from all walks of life. This platform is optimized for mobile user experience, hence is very easy to navigate as one interacts with a wide variety of useful features such as charts and analysis tools. One can do all of this without feeling clunky about the accessibility of all the features.
One of the very unique things that trading212.com presents its users is the capability to trade in a couple of ways and carry out a couple of operations on a given trading pair simultaneously.
Some investors will only trade on a brokerage if it has a collection of advanced features found on platforms such as MT4 and MT5, but they can still appreciate the custom-built Trading 212 app that aims to bring the same wealth of features and tools to them.
Trading 212 offers a demo account, through which traders can experiment with a variety of platforms and find the ones that meet their needs in the best possible manner.
Avus Capital, a Bulgarian company, created this platform before getting incorporated in the UK in 2013. This means the company is registered in the UK and Bulgaria. In the last half-decade or so, the brokerage’s customer base has grown massively. The app has for instance been downloaded more than 12 million times.
Which assets and markets are offered by trading212.com?
Trading 212 has managed to build its asset offering to more than 1800 assets that traders can rely on to earn an income. As a trader, you can expect to find and rely on the following assets:
- More than 150 forex pairs
- Several cryptocurrencies such as Ripple, ETH, and BTC
- Traditional assets e.g. stocks, commodities, and indices.
The spreads and commissions on this platform
Trading 212 has relatively tight spreads, although not they’re not the tightest in the industry. Interacting with the brokerage long enough will help you understand that some assets have better spreads than others. Trading 212 has in an attempt to lure more crypto traders made its cryptocurrency spreads quite competitive.
Trading 212 has done an amazing job with its commissions, where it offers commission-free trading for all assets. Most of the leading brokerages in the industry have adopted this strategy in a bid to attract and retain more clients.
You can, however, expect fees for currency conversions, which isn’t very common in the industry.
Leverage offered on trading212.com
Leverage on this brokerage is offered at a rate of 1:300 to the traders who own professional accounts. One thing you should know about leverage before taking your chances with it is that increases the risk of loss and profits, hence you should use it wisely.
The maximum leverage offered does not have to be used for one’s daily trades.
Retail traders in the European Union bloc have their leverage capped at 1:30 for certain markets, and 1:2 for cryptocurrencies, as per the regulator’s laws.
The mobile app versions offered by trading212.com?
Trading212.com has apps that both Android and IOS users can rely on to trade on the go. The apps offer full functionality. Traders can, for instance, trade from visualizations, a feature still unavailable for most brokerage apps. Generally, the user experience is excellent- traders have an easy time navigating the app and interacting with various data visualizations.
The app, which is trading212.com’s flagship product, has been developed with regular and active traders in mind.
Account types offered at Trading 212
Trading 212 technically offers one type of account to traders. This means that the fees, charges, and leverage are similar for all traders. This reveals the company’s commitment to democratizing trading. All the trades on this brokerage are commission-free. All that the traders have to do is switch between the real and demo mode.
That said, Trading 212 still offers ‘professional accounts’ that allow regulated users to access higher leverage rates as they get regulatory protection. Traders can apply for a pro account directly during the account opening process, but they will have to meet specific criteria based on:
- Trading experience
- Trade frequency
If they meet all criteria set, then Trading 212 accepts them for a Pro account.
The payment methods allowed on this brokerage
Trading 212 presents traders with a couple of payment options including:
- Bank transfers
- Credit and debit card transactions
- Digital wallets
The payment methods are explained comprehensively in the FAQ section, though it is safe to say that Trading 212 offers most of the mainstream payment options.
Traders can withdraw their proceeds directly to their bank accounts and receive the money within 2-3 business days.
Is Trading 212 regulated?
Trading 212 is regulated by the following bodies:
- FCA in the United Kingdom
- FCS in Bulgaria
This makes it one of the most heavily regulated brokerages in the industry. Traders can therefore feel fully safe and secure as they use this platform to make money. The company has many financial controls that ensure it remains in place and is fully compliant with all regulations.
Is trading212.com genuine or is it a Scam?
In my opinion, Trading 212 is a genuine platform. Traders living in most countries in the world can access the brokerage to trade. Those living in Canada and the USA, cannot use the platform. Those who have used this brokerage have generally given positive feedback about it. This makes it worth trying out, more so for those traders who would like to access a wide collection of assets on one platform. On Trustpilot for instance, the platform has a rating of (4.3/5) stars.
Pros and cons
- Efficient app
- A broad range of assets offered
- Crypto trading offered
- Educational materials offered
- Demo account offered
- Leverage of 1:300 (capped for some countries)
- Capped leverage for some countries
- Tight spreads
- No MT4 platform
Final Words and Verdict
Overall Rating: (4.3 / 5)
Trading 212 does an impressive job at providing customers with the opportunity to earn an income trading in various currencies and securities. Traders can also trade in cryptos on this online brokerage. Most of the features that Trading 212 offers are excellent, though it fails to provide an MT4 platform that most traders would like to access. MT4 and MT5 platforms are quite popular in this industry since they equip traders with a variety of tools that are necessary to help them remain profitable.
That will be all for this review on what trading212.com is about. I hope you’ve gained sufficient information to help you decide whether you will rely on it or not. You can also have a look at my recommended crypto trading platform to see if there are any opportunities there for you as well.
Eric, Investor, and blogger at Start Make Stop Waste!