Trading212 overview
Trading212 is an online brokerage company based in London that aims to make the world of securities and forex trading more accessible. While they offer a reliable service, they have quite a few drawbacks.
Trading platform
The trading platform that Trading212 runs on is an extremely strong element of this brokerage company.
Optimized for mobile users, the platform is very easy to navigate while still offering a wide range of features, charts and analysis.
A great feature is the ability to place trades in several ways and simultaneously perform several operations with the same trading pair.
Assets
Trading212 boasts a huge selection of over 1,800 tradable assets.
These include over 150 currency pairs, a wide range of cryptocurrencies including Ripple, Ethereum, and Bitcoin, as well as more traditional asset types such as indexes, stocks, and commodities.
Spreads / Commission
Trading212 offers relatively tight spreads, although admittedly not the tightest on the market.
Some assets have better spreads than others, while cryptocurrency spreads remain competitive.
One area of Trading212 where all is well is commission, offering commission-free trading across a range of asset classes. This is now the norm among leading brokers.
However, they do charge a currency conversion fee, although this is not uncommon either.
However, at the end of 2020, the brand suddenly raised its margin requirements to 50%. This change, completely unexpected, leaves traders with considerable uncertainty about their capital requirements.
Leverage
Leverage is offered at a rate of approximately 1: 300 for professional accounts.
Retail traders in the EU will see leverage capped at 1:30 (or lower for certain markets, such as cryptocurrency, where regulators insist on a maximum leverage of 1: 2).
Mobile applications
Trading212 has a dedicated app for mobile users (available on iOS and Android). It offers full functionality, even allowing you to bid directly from the visualizations – a feature not available in many other mobile apps. The user interface is great, with clear navigation and well thought out data visualization.
Downloading is quick and easy, and the mobile app is Trading212’s flagship product. Therefore, the app was developed for active traders and is one of the best in the industry.
Payment methods
Trading212 offers a variety of payment options including bank transfers, credit and debit card transactions, and a selection of digital wallets. You can withdraw money directly to your bank account (although there are minimum withdrawal limits) and the money must be in your account within 2-3 business days.
Offers and promotions
Trading 212 offers its users a range of suggestions, including an up-to-date economic calendar, detailed (but concise) technical analysis for each asset traded, daily global news updates, and a range of training videos and written guides explaining critical trading. Concepts, charts and analysis. Users can browse the extensive forums for further advice, and the FAQ section is well organized and extensive.
Regulation and licensing
Trading 212 is fully compliant with the latest EU regulations. They are regulated by the FCA in the UK and FCS in Bulgaria, making them one of the most heavily regulated online brokerage firms on the market.
Additional features
Trading212 offers a number of additional features to support its main trading application. These include a detailed economic calendar, daily financial news updates, an in-depth tutorial section with detailed explanations and guides on how the various elements of trading work, a summary of key industry concepts and terms, and guidelines for using charts to conduct analysis.
Negative balance protection is also offered to regulated traders.
Account types
Technically, Trading 212 only offers one type of account, meaning the commissions, fees and leverage are the same for all users. This is in line with the corporate spirit of “trade democratization”.
Pro account
Trading212 does offer “professional” accounts. This allows regulated users to access higher levels of leverage in exchange for waiving regulatory protection. Traders can apply directly when opening an account, but must meet certain criteria (trading experience, trade frequency and capital) before being accepted into a Pro account.
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