Trading 212 Review
As we scour the online trading market for reliable and trustworthy brokers, we occasionally find a real gem. You know very well that we have already analysed dozens of companies, but this one is really among the very best. They have been a part of the trading industry for more than 12 years, which certainly says a lot about their reputation, quality and determination. But what is all of this based on? What features does their offer hold that so many people are trading on their website so frequently? Well, you’re about to find out. After a period of testing, our team has composed this Trading 212 review which examines everything from the deposit methods to the type of support you can get here. Therefore, stay a while and read this article. This might just be your new trading partner.
Trading 212 Account
Every trader needs an account, so we will start our Trading 212 review by examining that part of the offer. And right away we find something very interesting. Instead of the usual array of several account types, this company has decided to merge everything into one big Real Account. Everything is there, so you don’t have to meet any financial requirements to unlock more advanced features or anything like that. Trading 212 Real Account even has the Practice Account embedded into it, which means you can switch between real and demo trading whenever you want. The two are exactly the same, only you obviously don’t trade with real money while in the demo version.
To open your Trading 212 account, you will have to input your e-mail address and then fill out a form with the data about your residence, and after that you will go through a short survey about your previous trading experience. This last feature is a very nice touch which allows the broker to help you if necessary. Once you’re done with that, you will be taken to your trading interface immediately, but you won’t be required to deposit anything. You can simply practice for a while first. If, however, you wish to fund your account right away, you can do so very easily. The next part of this Trading 212 review will show you why we say that.
Trading 212 Deposit
So, Trading 212 deposit. How can you make it and how big does it have to be? You’ll be very happy to know that the deposit methods are very numerous. Way above average. Naturally, you can use the standard channels like bank transfers or Visa and MasterCard (even Maestro and Visa Electron are available) bank cards, but that’s just the tip of the iceberg. Ten more deposit methods are available, from things like Skrill, Dotpay and Giropay to Mister Cash and Direct eBanking. If there’s not a method that suits you here… well, let’s just say that you’re a very picky customer.
As for the minimum Trading 212 deposit you have to make, that stands at 100, GBP, 100 EUR or 150 US dollars. In any case, that requirement is more than acceptable, since it is actually below the average amount usually asked by brokerage companies. On the other hand, there is no limit to how much you may deposit at once, so feel free to go big if that’s what you want. Once you do make a Trading 212 deposit, it will be kept in a segregated bank account, so you can rest assured you will have no problems reaching it. In any case, this process is very smooth and quick, which is to be expected from a company with this much experience. Is transferring money in the opposite direction equally easy?
Trading 212 Withdrawal
When it comes to Trading 212 withdrawal, the methods you can use are slightly different than in the last paragraph and depend on what you used to fund your account in the first place. Namely, if you make a deposit by using a bank transfer, your withdrawal will appear in the bank account you used in that process. If, on the other hand, you use any other method, your Trading 212 withdrawal will end up on your credit (debit) card. In the case of using multiple cards to make a deposit (yes, this is possible), the broker will automatically choose the card it returns your money to.
It is worth mentioning that the withdrawals here are pretty quick. It will take only two to three days for the money to appear in your account, which is significantly faster in comparison to some other brokers where you have to wait up to ten days.
Of course, we can’t end this segment without talking about the minimum Trading 212 withdrawal. The lowest amount you can withdraw is 50 GBP at the moment, or the equivalent of that amount in USD or EUR. That’s a really low amount compared to other brokers which, especially when you take the minimum deposit into consideration, nicely rounds up the picture of this company as a fairly accessible trading partner. You must be wondering, though, are there any fees to all of this. Well, the answer is in the next part of our Trading 212 review.
Trading 212 Fees
To properly explain Trading 212 fees, we will need to separate them into two groups – withdrawal fees and deposit fees. Now, withdrawal fees are pretty simple to explain: there are none if you don’t use bank transfers. If you do decide to go with bank transfers, the broker’s bank will charge a fee (5 EUR or equivalent), but your own bank may charge you something too, so be careful.
Trading 212 fees when it comes to depositing are slightly different. They will range from 0.7% to 3.5%, depending on which currency you choose to use. Bank transfer fees also may have to be taken into consideration here.
Apart from these, other Trading 212 fees to keep in mind are the currency conversion fee (0.5%), the commission for trading equities and the overnight fees which will be applied if you leave your trade open into the next day. Apart from the conversion fee, these are all calculated separately, so do check the broker’s website thoroughly for that. However, if you’re into trading equities, you’ll be glad to know that you can get 10 free deals every month in that category. Not a bad deal at all. And since we’re on the subject of assets and trading them, let’s take a closer look at the platform and everything it has in store for you.
Trading 212 Platform
The first thing we have to say in this part of our Trading 212 review is that the broker has created this platform all by itself. Therefore, do not expect things like MetaTrader software here. No, this all Trading 212 all the way. And it works, it really works.
There are more than 1800 different instruments you can choose from, and they are divided into CFDs and equities. Stocks, forex, commodities, indices and even cryptocurrencies can al be traded here, which is a really incredible amount of assets. Once you log in, though, it may take a bit of time to get used to the interface, but in a couple of minutes every experienced trader should learn everything. You have your charts, your indicators, your timeframes, and you can even draw things like Fibonacci circles and Elliot waves fairly easily. There are actually quite a lot of options once you get the full grasp of the trading platform. You can create your watchlists, turn on the auto close option, check out news and analyses and even receive notifications, so we’re sure you’ll enjoy your every trade. We certainly did.
As for the numbers, we will say that the Trading 212 leverage is 1:30, which is due to ESMA regulations which became active on August 1, 2018. So, you can be absolutely sure this company is legit, as it complies with all relevant regulations, but we have already written about that in our Trading 212 Scam Test. Before we move on, we will say that there are no minimum requirements you need to meet when opening a trade, but that goes without saying, really. However, this next feature has really helped boost the popularity of this company, so stay tuned to learn how else you can trade with these guys.
Trading 212 App
Trading 212 app is one of the most sought-after products of its kind in the industry. As a matter of fact, for the last two years, it is the most popular trading app in the United Kingdom, while in Germany it was the number one in 2017. The app was downloaded more than 10 million times so far, which is an incredible number. So, what is the secret of its success?
Well, for one thing, it transfers the experience of the desktop platform to your mobile devices perfectly. All 1800+ assets are at your disposal, and you have all the platform’s features at your fingertips. Yes, you can even draw on your chart, which can be scaled to your liking, and even customize your drawings in various ways. But that’s just one example of how intuitive and well-designed Trading 212 app is. Apart from that, you will get access to great support, free demo account which will last you a lifetime and numerous other features. And all of that without you ever having to pay a cent! That’s right, you can get the app completely free, both for iOS and Android devices. As a matter of fact, there are more than 40,000 ratings on the App Store and Google Play, an overwhelming majority of which are extremely positive. Simply, people are absolutely delighted with Trading 212 app, and you can clearly see that in the comment sections, too. If you need a way to trade on the go, this is as close to perfection as you can come.
Trading 212 Pro Account
But now we come to a very special part of the review – the Trading 212 PRO Account. This special account type is actually an upgrade of your standard Real account, and the upgrade can be easily initiate through the trading platform once you set your Real account up. Everything is completely free, there isn’t even a higher deposit you need to make. In short, this will not cost you anything. So, what’s the catch?
Well, as you can see from its name, the Trading 212 PRO Account is meant for professional traders only. This is means that you will need to meet certain criteria when you apply for it if you want to become a holder of this account. More precisely, you need to meet two these conditions: at least 40 trades in the last 4 quarters with any provider; portfolio of at least a half a million euros; one year of experience working in the financial sector with the CFDs. This again is due to recently introduced ESMA regulations which require traders to be professionals in order for them to have access to certain features.
And what does the Trading 212 PRO Account offer that the Real account can’t get you? Well, it increases the maximum leverage tenfold. Yes, you will be able to use leverage of up to 1:300 in this case, which was the broker’s standard feature before the aforementioned regulations were introduced. Quite a significant boost in leverage, then. But what else is there to say in this Trading 212 review? A lot, so stay with us.
Trading 212 Support
We were extremely pleasantly surprised with the broker’s support team during our time here. They were of great help to us because of their extensive and quick answers. You can very easily contact them through live chat, and you’ll never have to wait more than a few seconds to get an operator on the other side. The team is quite numerous, so the waiting queue is almost non-existent. Like we said, we got very detailed answers from the support crew, so we can safely say that these people really know a lot bot about the broker’s offer and trading in general.
Apart from the chat, though, there are other contact methods, too. You have your contact form, e-mail address, phone number and even the company’s address on the contact page, which is all pretty standard. However, these days it’s much easier to get in touch with someone via social networks, and that’s where Trading 212 excels. They are present on Facebook, Twitter, Instagram and even Google Plus, and they even have their own YouTube channel. Unlike some other brokers, these guys actually release high-quality videos every few days or so, so you’ll really want to keep an eye on the content there. News, tips and trading basics are all covered there in videos which usually range from one to about 14 minutes. Therefore, you won’t lose much time and you can even learn something useful. And since we’re on the subject of learning, you can really dig into that in the educational section here.
Trading 212 Education
Given how low the financial requirements here are, the chances are that some fairly inexperienced (casual) traders will be trading here. To make sure they can develop their skills properly, Trading 212 has prepared a lot of educational materials for them. Like we said, you will really want to check out their YouTube channel, but there is much more than that here.
For example, you can find a series of short and sweet articles on the most important principles of forex trading. Learn about forex trading, economic indicators, charts, trading modes and more through short but very enlightening paragraphs which really cover absolutely all the basics. Once you go through all of this, you will definitely be ready to trade. Apart from that, though, you can look for answers in the FAQ section, where a huge number of questions have been answered. This may be a better place to start looking for answers about features specific to this broker, though, not on questions about forex trading in general.
Don’t forget the broker’s Analysis page. There you can get the latest scoop on all the most popular assets, from major pairs to commodities like crude oil or gold. Combine that with the economic calendar and the news feed to get the full picture of the market in a way that everyone can understand. There is also a blog with a fair amount of texts too, which is certainly commendable, but unfortunately it seems that no new posts were published for quite some time now. Still, if you’re new to this, reading these texts can’t hurt. The bottom line is that you really have a lot of ways to learn something every day here, which is another reason why people like trading here so much. In fact, the next part of our Trading 212 review will show you just how delighted people are with the offer here. Read on!
Trading 212 Success Stories
Hen you have a company that’s been around for this long, you’ll will certainly be able to find a nice story or two. A Trading 212 success story, if you will. The thing is, when it comes to this broker, there really are a lot of such stories. And they can be found relatively easily. Just take a look at the comment section on Google Play or the App Store, and you will see loads of satisfied people. The stories range from small wins, such as allowing people to get to know the world of trading through the practice version of the account to traders actually striking it rich with a small initial investment.
But we didn’t stop there and managed to even interview some traders to get their Trading 212 success stories from them. We also visited various trading forums and can honestly say once again that traders really do think highly of the experience this website provides. Our favourite success story was the one about a father who managed to take his family to vacation in the Mediterranean (the guy is from England) with the winnings here, but you can also find stories of people winning much smaller amounts than that and being thankful for it. What is perhaps even more important to mention that people actually admit that when they lose it’s due to their own wrong predictions. They never feel cheated by the broker which is perhaps the most important achievement of this company. A real Trading 212 success story, but from the broker’s perspective.
Trading 212 Review – Conclusion
And that’s it for this article. What we have here is a serious forex and CFD broker with a huge amount experience and load of loyal clients. They keep their financial requirements nice and low, with fairly reasonable fees. It is important to mention that Trading 212 is a completely legit company, which can easily be seen from the adjustments they constantly make to stay within the boundaries of European trading regulations. Their PRO account is one of the best examples of that because it adheres to the latest ESMA regulations but at the same time preserves the leverage that is so important for this type of trading. What we liked about this is that the conditions you need to meet to activate this account are very easily accessible.
The trading process here takes place on an in-house platform, but everything really works absolutely flawlessly, and you can expect a sensational trading experience. Loads of features, indicators, drawing tools… there’s not a single thing you can say is obviously missing. The same goes for Trading 212 app, which has been recognized by traders practically all over the world and which is one of this company’s greatest strengths. Millions of people have it and the feedback is extremely positive. The trading environment here is directly responsible for some incredible success stories, but the most important thing in our opinion is that traders regard this company as fair and honest. So, if you want to team up with people who know their job well, if you want to start creating your own Trading 212 success story, open an account right away. This broker will not let you down.