Trading 212 Review: Detailed Overview with Pros and Cons

trading 212 review

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

Trading 212 is a brokerage platform based in London that attempts to democratize trading by making it more accessible to the general public. Founded in 2006, the brokerage firm has been successfully operating for more than 16 years now, which has built great trust in its clients. 

On the other hand, the broker offers customers to trade in several assets such as forex, gold, commodities, cryptocurrency, and stocks, among others.

As a user, you have the option of using their web-based trading platform or downloading the software to your computer. In addition, there is a mobile app for both iOS and Android phones if you want to trade on the go.

That’s not all! The broker offers many other features, so read this article till the end to learn more about the broker’s way of working.

Is Trading 212 A Scam or Legit?

No, Trading 212 is not a scam as it was granted a license to operate in the United Kingdom in 2013 and is regulated by a number of global financial authorities including: 

  • UK Financial Conduct Authority (FCA)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Bulgarian Financial Supervision Commission (FSC).

Furthermore, its physical existence is in the UK, and its registered address is 107 Cheapside, London EC2V6DN. License No. is RG-03-0237

On the other hand, the clients’ funds are also protected by the Financial Services Compensation Scheme (FSCS), which covers deposits up to £85,000.

Additionally, a broker is a member of the Investors Compensation Fund or ICF Bulgaria, which covers up to 90% of deposits with a cap of €20,000 for clients. 

Given this broker’s current financial status, a default is quite unlikely, and clients should feel safe dealing with this broker; in the event of unforeseeable future troubles, all clients are fully protected.

Overall, the broker is an ideal choice in terms of regulation, security, and protection.

Major Financial Markets Available: 

The biggest perk of trading with this broker is that it allows traders to trade on an extensive range of financial instruments, giving them plenty of options to choose where and how they want to invest their money.

Some of the major financial markets include:

  • Stocks
  • Forex
  • Cryptocurrencies such as Bitcoin, Ethereum, etc.
  • Commodities
  • Indices

Trading 212 provides a trial account for newcomers to try out the platform and make test transactions without registering. This trial account allows you to see how the platform operates on your computer and mobile apps in real-time. If you opt to sign up, you will be required to submit some official documents to prove your identity and residence. These documents include the following:

Pros and Cons: 

Pros:

  • Offers free trading experience to beginners.
  • Traders have vast choices of assets.
  • User-friendly Platforms.
  • Quick and easy account opening process
  • Commission-free trading on Stocks and Exchange Traded Funds
  • Negative Balance Protection
  • 24/7 Customer support

Cons:

  • High fees for forex trading
  • MetaTrader platform not available
  • Not suitable for beginner traders

Types Of Accounts Offered: 

The broker’s account types offer users the best trading experience possible, with incredible leverage and a competitive bidding environment. As a result, every sort of trader can select what best suits their demands. 

In addition, the Broker offers three different account types, including:

Trading 212 Invest:

This account type is best suited for traders who choose to invest and trade in stocks. However, short-selling of shares is not permitted on the platform, so if you’re just interested in this type of trading, it may not be the ideal platform for you.

  • Allows traders to invest without a premium.
  • The minimum investment limit is €1.
  • More than 10,000 shares and ETFs to invest in.
  • Zero commission
  • 0.15% fees on all trades on stocks and ETFs

Trading 212 ISA:

The Trading 212 ISA is exclusively available to UK-based traders who want to trade tax-free up to a specified amount.

  • Shares and ETFs can be hold in a tax-free wrapper by UK shareholders.
  • The minimum investment limit is €1.
  • It supports 24 hours over a complete week
  • Instant trading is done through this A/c

Trading 212 CFD:

The specialty of this account type is that all overseas traders are welcome to trade with trading 212 CFD.

  • CFD is used by Shares, stocks, forex, indices, commodities, and cryptocurrency.
  • The minimum investment limit is €10.
  • It protects negative balance.
  • It traded with a stop loss and take profit strategy.

Trading 212 Review: Account Opening

Create a/c through the website or mobile app: 

 The Broker offers both a website and a smartphone app for opening an account. This can be done instantaneously as a guest using a practice account, or you can sign up online using your email and password.

Build a Watchlist: 

First, choose between a CFD or an invest account and build a watchlist of assets such as equities in well-known companies. There’s also a page for creating and tracking your portfolio, as well as searching for individual equities. In addition, you can see a company’s share price and financial information like market capitalization, price-to-earnings ratios, and sales.

Economic Calendar

There’s a helpful economic calendar to keep track of developments affecting specific equities. Users may also establish price alerts and view instructive videos and lessons on how to buy their first stock or begin investing, as well as more technical information on trading methods and CFDs.

Final Step

If you opt to sign up, you can click the switch to real money button, enter your personal information, and upload an identity document and a selfie to establish your identity.

You must be at least 18 years old to begin trading after your account has been confirmed and approved.

Trading 212 Review: Trading Instruments

The Broker brokers provide a variety of assets class instruments for trading to investors. It especially deals in:

  • Stocks 
  • Assets
  • ETFs

Trading platforms of Trading 212

The Broker is a fintech firm. Thus it’s only natural that it offers its own proprietary trading platform. Unfortunately, little detailed information regarding the trading platform is offered. However, mobile trading is prioritized, and a screenshot of a desktop version is available on their website. 

More information on the trading platform, especially as it is a new platform, would be helpful. A demo account can be accessed without registering to test the platform, but the broker’s failure to provide information about the platform on the website is a mistake.

Given the information available, the given trading platform is adequate for beginner traders, but it is an unacceptable choice for experienced traders who have either written their own software or acquired third-party software as part of their trading routine.

For many traders, this means that no-commission trading requires them to forsake their existing software, which may be too high a price to pay. However, trading 212 is promoting its platform as a full solution, and the 14,000,000+ downloads indicate that it has gotten a lot of attention. 

Despite this, many traders utilize auto-trading software. As a result, they are left out unless they are willing to invest more money and construct costly workarounds to benefit from this broker’s excellent trading circumstances.

Deposit and Withdrawl of Trading 212 Accounts

As deposit and withdrawal methods, the broker accepts bank transfers, credit and debit card payments, Skrill, Dotpay, Giropay, and Direct eBanking. According to their FAQ section, there will be fees for deposits and withdrawals. While bank wire fees are common, some brokers compensate their clients for these expenses to have zero costs with deposits. Other deposit fees should be borne solely by the payment processor. On top of what the bank will charge, a minor and useless €5 cost is added to bank wires.

Traders can make deposits and withdrawals using the following methods:-

  • Credit Cards
  • Debit Cards
  • Google Pay
  • Phonepe
  • Apple pay

Trading 212: Mobile App

The Trading 212 mobile application is also pretty simple to use and presents information in a graphical way that is easy to comprehend. You can swap between sections and instruments using simple swipe gestures. 

You may establish price alerts and access the menu’s forum, reports, and training videos. A demo account is also available for the mobile app, allowing you to trade in all instruments.

Trading 212: Bonuses and Promotions

There are no bonuses or promotions available, but they may apply on a case-by-case basis, and broker states that users should seek assistance through the website’s live chat or directly from the trading platform.

Trading 212 Research and Support

Support is offered by phone, email, or the website’s contact page. If you want to chat with a representative, the website includes a live chat option.

Most traders will never have to use this portion of Trading 212, but there are some products that the broker requests clients to reach out for, such as special promotions or bonuses that are offered on an individual basis. Traders can contact the firm via phone, email, or the website’s web form; live chat is also available. Although no support hours were specified, ordinary business hours should be assumed.

Conclusion 

Trading 212 is a particularly user-friendly trading platform for beginners. You can test the platform on both mobile and web before committing is a huge plus. Traders may be put off by restrictions such as no short-selling. Trading 212, on the other hand, is one of the easiest suggestions for us because it offers over 1,800 assets and is quite upfront about charges.

The Trading 212 review illuminates the top services available to traders from various backgrounds. Using features like trading platforms, numerous account kinds, and quick speed investments and trading becomes quick and straightforward. 

You can execute scalp trades with a well-regulated broker that charges no commission and provides a facility of minimum initial deposit. One of such traders is PrimeFin. Is PrimeFin a Scam?

Open Your demo account with PrimeFin.

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