Thu. Dec 1st, 2022
Trading212 reviews

Trading Review:

Aiming to increase accessibility to the world of stocks and currency trading, Trading 212 is an internet brokerage firm. Information about the trading platform, trading commissions, demo account (and pro account), minimum deposit, and payment options are all included in our evaluation of the Trading212 service.

The London-based business’s main selling point is its user-friendly mobile app. Unfortunately, their level of customer service and service quality fell short.

Even though they provide a trustworthy service, there are enough disadvantages to make alternative brokers a better option for the majority of traders.

trading platform

A very powerful component of this brokerage business is the trading platform that powers Trading 212.

The platform, which has been designed with mobile users in mind, is relatively simple to use but offers a robust selection of tools, charting, and analysis without appearing clumsy or cluttered.

The ability to execute numerous transactions on the same trading pair simultaneously is one of the outstanding advantages. Trades can be placed in many ways.

While many investors will value the specially developed Trading 212 app, some investors may prefer the more sophisticated or feature-rich platforms frequently available on MT4.

Traders can test out various platforms on the sample account to determine which one best matches their needs.

Trading212 reviews
Trading212 reviews

Assets/Markets

Over 1800 tradable assets make up the huge portfolio that Trading 212 boasts.

There are more than 150 currency pairs among them, as well as a wide variety of cryptocurrencies like Ripple, Ethereum, and Bitcoin, and more conventional asset classes like indices, stocks, and commodities.

Commissions or Spreads

Although not the finest on the market, Trading 212 has reasonably tight spreads. Trading costs are lower with other brokers.

A variety of asset classes are available for trading at Trading 212 with zero commissions. Among top brokers, this has become standard practice.

They do, however, charge a fee for currency exchange, but this is also not rare.

However, the brand abruptly increased margin requirements to 50% at the end of 2020. These sudden swings of this nature provide dealers with a great deal of anxiety regarding their capital needs.

Leverage

For professional accounts, leverage is provided at ratios of around 1:300, which is higher than those of many other brokers. Traders should utilize leverage carefully because it increases both the risk of losses and the potential for profits.

Not every trade requires the utmost leverage.

Leverage for retail trading in the EU will be capped at 1:30 (or lower for certain markets such as crypto, where regulators insist on a maximum leverage of 1:2).

Mobile applications

Trading 212 has a mobile app that was created specifically for them (available on iOS and Android). It has full functionality and, unlike many other mobile apps, allows trades to be executed immediately from visualizations. Excellent navigation and thoughtful data visualization make up the user interface.

The Trading212 mobile app is the company’s flagship offering and downloading it is quick and simple. The app is among the best in the business because it was created with active traders in mind.

Trading account replenishment methods

A selection of digital wallets, bank transfers, credit and debit card transactions, and other payment methods are all available on Trading 212. The website’s FAQ section contains all the information you need, but the majority of popular fundraising options are not available. Although there are minimal withdrawal limits, you can withdraw money directly to your bank account, and it should arrive in your account within two to three business days.

Demo account

Users of Trading 212 can quickly switch between “real” and “practical” accounts, doing away with the need to open two different accounts. It takes less than a minute to create a new account, and the setup is quite simple. Real and practical funds can be “switched” within the same account, making it simpler to use both accounts.

Regulation and licensing

The most recent EU laws are completely complied with by Trading 212. They are one of the most tightly regulated internet brokerage businesses available. They are governed by the FCA in the UK and the FCS in Bulgaria.

It follows that consumers can feel confident conducting business on Trading 212 because all deals are completely licensed. Being the “most popular trading app” attracts press attention to a certain extent. As a result, the business maintains rigorous financial controls and takes action to guarantee that it complies with all current laws and regulations.

Trading 212 account types

Technically, Trading 212 only provides one account type, so all users receive the same fees, deductions, and leverage. This is consistent with the goal of the push for “trade democratization.” The only difference between “demo mode” and “real mode” is how you choose to fund your account; otherwise, all trades are commission-free.

Trading212 reviews
Trading212 reviews

Customer Service

With an average response time of only 47 seconds, Trading 212’s customer care team is superb and extremely prompt. With help centers all over the world, customer service is offered twenty-four hours a day on numerous platforms and in sixteen different languages.

Countries that Trading 212 does and does not work with

Australia, Thailand, the United Kingdom, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and the majority of other nations are among the nations Trading212 accepts traders from all countries.

Trading212 is not accessible to traders in the US or Canada.

Conclusion

In conclusion, Trading 212 offers an online brokerage service for investors of all levels, with a beautifully designed custom mobile app, commission-free trading, a straightforward account structure, and a variety of additional instructional tools. Trading 212 provides outstanding customer service and simple withdrawal processes. This makes it a fantastic choice for potential investors to investigate.

However, other prospective investors might like a broker that is more browser-based, employing the well-liked MetaTrader 4 platform, or that offers extra services like algorithmic or automated trading or managed account capacity.

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