Nowadays everyone can make a decent website and offer nice bonuses, but the best way to find out if a broker is legit or not is to open an account with them. If you’re a regular trader, that’s quite risky – so we do it for you!
In this Is 121Clearing a Scam? article, we’ll analyze one of the hottest brokers on the market at the moment. In our unbiased article, we will address all the most important security questions about this company. Stay tuned and learn all you need to know!
Is 121Clearing a Scam? | Regulation
We’ll start our Is 121Clearing a Scam? investigation with regulation. When you’re thinking whether a broker is legit or not, regulation is the first thing you should be looking for. Some brokers might have excellent performances and they can be good in all possible ways, but if they’re not regulated, you can never be 100% sure that they are legit. Luckily, 121Clearing is a regulated company.
They are regulated by the Financial Conduct Authority (FCA). It’s the conduct regulator for more than 50.000 financial services firms and financial markets in the United Kingdom. The FCA controls fairness of the financial markets, so you can be completely sure that with 121Clearing you’re trading with a legit company. The regulatory has thoroughly checked the broker for scams, frauds or anything of the sort and found nothing. In the continuation of our Is 121Clearing a Scam? analysis, you can read about another safety measure of the company. Stay with us!
Is 121Clearing a Scam? | Safety of Funds
We also have to write about additional safety measures that make your funds with this company even safer. One of the most important ones is the segregation of traders’ funds. Clients’ money is held on different account than the company’s: the money is “ring-fenced” in bank accounts and perfectly safe at all times.
Furthermore, the company has made an extra effort to fight more successfully against the money laundering. As we’ve mentioned in our 121Clearing Review 2017, the broker requires a valid proof of the client’s identity, valid utility bill as a proof of residence, they closely follow clients’ money transaction and so on. Besides that, they have an excellent return policy, meaning you can make your withdrawals with ease and very quickly. All in all, your funds are perfectly safe with 121Clearing.
Is 121Clearing a Scam? | Conclusion
In the conclusion of our Is 121Clearing a Scam? article we can only repeat that this broker is completely legit and that you won’t make a mistake if you open an account with them. Your money will always be safe, held in separate account and protected from money-laundering. Furthermore, the broker is regulated by FCA, which is another reason to consider them legit. We’ve tested them on our own and everything went perfectly fine.
The world of trading is getting more and more dynamic. There’s always something happening on the market and there are more traders and brokers than ever before. Having in mind that sometimes it can be really hard to choose the broker you’d like to trade with, we’ve decided to make an in-depth analysis of a very interesting broker – 121Clearing.
Some of the main advantages of 121Clearing are easy login, excellent trading platform and reliable support team. Besides that, they have some great trading features and they’re completely safe and reliable. We’ve spent some time trading with them ourselves so that we could present all you need to know about the company. Read our 121Clearing Review and find out all the most important information on this interesting broker!
121Clearing Review | Start with Ease
Like with any other broker, you can’t trade unless you register. The process of registration is, luckily, very simple and you really don’t have to be a genius to sign up. In the first step of the process, you’ll have to choose the 121Clearing account you’d like to have. You can opt for individual, joint or corporate accounts. When you’ve done that, you’ll have to enter some basic information about yourself, such as your first name and surname, date of birth, e-mail address, mobile phone number and so on. It might seem that personal information shouldn’t be shared with anyone online, but you can be completely sure that nothing bad will happen. The company won’t share your information with any third party, and more on the broker’s security can be found later in this 121Clearing Review or you can check out our Is 121Clearing a Scam? analysis.
Apart from signing up, in order to trade you will have to do one more thing – you’ll have to make your first deposit. So, in the next paragraph of our 121Clearing Review, we’ll show you how to deposit and withdraw your funds. Stay tuned and get informed!
121Clearing Review | Make Your First Deposit
As we already mentioned, now we’ll explain how to fund your account. This part can seem very delicate, so it’s very important that the broker does everything possible to make the process simple and safe. We tried it on our own and we can say that 121Clearing deposit functions perfectly. You really can fund your account in just a couple of clicks.
There are several 121Clearing deposit methods you can choose between. The first way of funding is wire transfer. It’s the old fashioned way, but it works perfectly. We have to underline, though, that you might pay some fees that are going to be set by your bank. If you use wire, you can choose if you’re going to fund your account in USD, EUR or GPB. The second method you can choose is SafeCharge, a platform that facilitates payments for highly demanding businesses. 121Clearing deposit fee in this case is 2.95%.
The last payment method is for Chinese traders only. If you’re from China, you can use UnionPay, the only domestic bank card organization in the People’s Republic of China. As for the fees, they have a transaction processing fee (3.95% plus a 35 cent) and additional withdrawal fee (2% credit fee plus 20 euros). Let’s also mention that the minimum 121Clearing deposit is set to $500, which is pretty much the industry’s standard, perhaps slightly above that. As for the withdrawal, we tried it too and we can say it works perfectly. We have to highlight that you have to withdraw using the same method you used for deposit.
In the next paragraph of our 121Clearing Review, you can check out the account types the broker offers in more detail, so stay with us!
121Clearing Review | Accounts
The offer that a broker has regarding accounts can tell a lot about them. It’s important that they have something for everyone. In other words, it’s important that both professional traders and newcomers can find a perfect account for themselves. Fortunately, 121Clearing is a perfect broker for any type of traders.
For only $1000 you can get a Retail account. It has 0 commission and 100:1 leverage, and it’s great for beginners. You don’t have to invest your entire capital in order to trade. Then there’s the Standard account that requires the minimum investment of $25000. However, if you’re a professional and you already have some trading experience, we advise you to take the pro account ($50000).
If you’re very experienced and you already have some clients on your own that you advise in trading, you can open a special 121Clearing Money Manager Account. There are several types of MAM accounts and all of them facilitate managing multiple accounts at once.
The last type of 121Clearing account we’d like to present provides you with free training hours – it’s the 121Clearing demo account. If you’re about to enter the world of trading, you could most definitely use some realistic simulation of market conditions. You could use it even if you’re already a professional trader who wants to open an account with 121Clearing. We think this is an opportunity you shouldn’t miss. You can try all options of the 121Clearing trading platform this way, but more on its general performances you can read in the next part of our 121Clearing Review!
121Clearing Review | Trading platform
Every successful trader has to be aware of the importance of having a good trading platform. If you’re going to be successful, you have to trade on a platform that’s going to have all the features you might use, that’s well designed and that’s quick in processing your requests. In other words, you have to trade on a reliable platform. Luckily, 121Clearing uses the best trading platform in the entire industry – MetaTrader 4.
Although you probably already know something about MetaTrader 4, we’ll point out once again a few important options this platform offers. The most important elements we’d like to put our emphasis on in this 121Clearing Review are the analytical tools this platform offers. When you have some powerful tools in your toolbox, you have better chances of winning trades. On MetaTrader 4, you can use many useful analytical mechanisms such as the Gann and Fibonacci tools. With this kind of help, predicting future was never easier!
Furthermore, with a little help of trading signals you can get a useful tip whenever you need it and there are more than 200 trading signals available, so you’ll definitely find something that suits you perfectly. They can be found on the MT4 website and some of them are free. Besides signals, you can also use automated trading, meaning you don’t have to sit in front of the computer in order to trade. With automated algorithmic trading you can apply various strategies and it will definitely help you a lot. Our 121Clearing Review will next show you the most dynamic type of trading you can get here, so stay tuned!
121Clearing Review | Mobile Trading
As you all know, the world of trading is very dynamic. The market always provides you with a possibility of making profit. In other words, there are always some chances you can take the advantage of. As mentioned before, you don’t have to be in front of your screen in order to trade – you can use automated trading. But besides that, you can also download the 121Clearing mobile app and trade anytime you want!
121Clearing provides you with the mobile version of MT4. There are a few very important characteristics of this mobile platform that we’d like to highlight here. First of all, it’s extremely intuitively designed, meaning you won’t have to spend too much time figuring out the way it works. Moreover, the time of reaction is also of big importance, and we can confirm that this mobile application can process all your requests very quickly. There are no bugs either, so you won’t lose any money due to an error in the system.
As for the tools, you can use all the analytical tools that you use when trading on the regular 121Clearing platform. Many people think that mobile platforms don’t have the same toolbox, but they usually do. With 121Clearing mobile platform, you can actually do whatever you want. You can download it to your Android or iOS devices and it’s, as we’ve already mentioned, completely free! If you’re into more dynamic trading and you like to take the advantage of every trading possibility, this is the perfect option for you! Speaking of options, have a lot of them here, which is why 121Clearing Review will tackle that topic next. Keep reading and learn all you need to know!
121Clearing Review | Forex and CFD’s
121Clearing allows you to trade forex and CFD’s. Most of you have already heard of forex and CFD’s, but some of you maybe don’t know how it really works in trading. Because of that, we can conclude that this paragraph might be of big importance to newcomers in the trading industry.
Let’s start with forex. Forex stands for foreign exchange. It refers to the OTC (over-the-counter) market, meaning that the very market is decentralized and that it doesn’t have any actual physical location. The entire trading process is done via electronic banking network infrastructure, financial institutions and transactions between individuals. When you’re trading forex, you buy one and sell other currency. The market sets the initial price, but there are many factors that affect the dynamics of the prices: national economies, political and economic turmoil and situation etc. There are two basic types of forex traders. Short term traders make the decisions based on technical analysis, and long term traders have to take into account some more general information, such as certain economic politics and so on.
As for the CFDs (contracts for difference), the point is that you can invest into an asset, but you don’t have to actually own it. It’s a contract between two parties – the seller and the buyer – that states that the seller pays the buyer the difference between the current value of as asset and its value at contract time. Let’s also add that forex and CFDs are the most popular means of trading at the moment. 121Clearing provides you with trading both and we think you should take this chance!
121Clearing Review | Contact and Support
When you’re choosing your broker, you have to keep several things on your mind: the trading platform, type of accounts and trading features are just some of them. But besides that, you have to be sure that your broker won’t let you down. In other words, you’d certainly like to do business with a company that can provide you with quick and professional assistance, no matter what happens.
Luckily, people from 121Clearing support are just great. We’ve tested them on our own several times, asking them all kinds of different questions (regarding account management, technical options on platform and general information on the company and forex in general). We’re happy we can state that the guys really can do their job. They are smart, patient, quick and they’re definitely a support team you can rely on.
As for the 121 contact methods, there’s a form you have to fill out in order to submit your request. There are two services with two mail addresses – client service and MT4 (platform) support, but you can contact them by the phone. As stated, they are quick and reliable and will definitely solve all of your problems. Finally, before we conclude this 121Clearing Review, you can check out what the broker did to provide you with a safe trading environment!
121Clearing Review | Safety
Another important element we didn’t mention much previous parts of our 121Clearing Review is safety. No matter how good options the broker offers or how many trading features it has, you have to be sure that the company is legit in the term of legislation. In this type of work, where you handle money all the time, you have to be 100% sure that the broker you’re working with is completely trustworthy. Fortunately, 121Clearing is definitely legit and can be relied upon to provide excellent service in all aspects.
When speaking of safety, there are several things you have to keep in mind. One of them is safety of your funds. 121Clearing holds clients’ money entirely separated from their own. The money is held in segregated accounts so there’s absolutely nothing to worry about. Funds transferred from an individual client to the broker will be received directly into a segregated client’s bank account. Furthermore, 121Clearing does not tolerate money laundering and they have significantly developed anti-money laundering measures. For example, you’ll have to provide valid utility bills for proof of residence.
The last thing we’d like to mention is regulation. 121Clearing is regulated by the Financial Conduct Authority so you can just relax and trade away.
121Clearing Review | Conclusion
In the conclusion of our 121Clearing Review, we’ll mention once again the most important things you need to know about them. First of all, 121Clearing makes trading possible to anyone. You can choose an account and make your first deposit in just a couple of clicks. The minimum deposit is set to $500. Furthermore, there are several accounts you can choose between, and you can practice trading for free using 121Clearing demo account.
The next important element we’d like to underline is a 121Clearing trading platform. As stated, the broker uses MT4 trading software, the best software in the entire industry. It has many powerful tools and trading features, and you can also download the mobile version of MT4. With 121Clearing you really trade anytime you want.
Therefore, if you still haven’t made up your mind, now is the time – open an account with 121Clearing and enter the world of online investments!