Trading 212 Overview
|Platform||Mobile App iTunes, Mobile App Google Play, Webtrader|
|Minimum account size||$150|
|Minimum lot size||0.000002|
|Tradable assets||more than 700 instruments|
|Spread on EUR/USD||0.00009 pips|
|Payment methods||Credit/Debit Card, Bank Wire & Skrill|
|Demo account||Yes with starting €10000 virtual money|
|Accepts South African traders||Yes|
|Regulated||FCA (UK), CySEC (Cyprus), FSC (Bulgaria)|
|Support||Email, Phone, & Live Chat|
- Over 700 instruments
- 0.000002 minimum lot size
- Tight spreads
- Support lines are busy most of the time
- Occasional requotes
- Reputation not yet established
- Bonuses cannot be withdrawn
Trading 212 is an online brokerage firm that has over 700 tradable instruments. Do they have the top qualities that you’re looking for in a forex broker? Let’s get into the finer details to find out.
The platforms that they offer are the following: Mobile App iTunes, Mobile App Google Play and Webtrader. They load pretty quickly and can be accessed on web browsers or mobile devices. This merits a Platform score of 8/10.
The platform interface is interesting to use thanks to its well-designed layout. This earns a Design score of 4/5.
The $150 minimum deposit is a little higher than what most forex brokers require from their clients. This could be an issue for those who are looking to start with a much lower capital so I am giving them a Minimum Deposit score of 3/5.
Minimum Lot Size
With Trading 212, you can use a minimum lot size of 0.000002 which is much lower than the standard 0.01 lot size and for this they deserve a Minimum Trade Score of 5/5.
They have a diversity of over 700 tradable instruments which includes forex, commodities, stocks and indices. With an ample selection, they deserve to get a Tradable assets score of 5/5.
They offer fixed and floating spreads on a number of currencies. The EUR/USD pair for example has a spread of 0.00009 pips. Such competitive numbers warrant a Payouts score of 10/10.
Processing of withdrawals takes up to 3 business days with Trading 212. It’s not the fastest but by comparison, this is still better than the standard waiting time so they notched a Withdrawal Time score of 8/10.
Deposit and Withdrawal Methods
Credit or debit cards, Bank Wire and Skrill are the payment methods that are accepted by this broker for funding the trading account. A little more diversity would have made it even better but for now they only get a Deposit and Withdrawal Methods score of 3/5.
Communicating with the customer support may require a bit of diligence especially during the peak trading hours because you might have to wait for a couple of minutes to be able to talk to one of their agents. This badly needs improvement because they got a low Support score of 8/15.
Occasional requotes were experienced during the testing process and this occurred mostly when markets are highly volatile. Based on our rating system, they notched a perfect Quote Accuracy Score of 7/10.
Even though Trading 212 has been operating since 2004, this brokerage firm wasn’t able to get a good rating in the reputation category due to their low popularity in the market. In fact, a lot of traders don’t even know they exist and those that do know are unhappy with their service. This warrants a Reputation score of 9/20.
Trading 212 has a mix of pros and cons. They do offer good trading conditions but these advantages have been badly overshadowed by its unremarkable client support and unestablished brand reputation If you want to have much better trading results then it would be more reasonable to find a broker that has a lot of advantages.
Final Score: 66/100