WikiFX Broker Assessment Series | Something You Need to Know About Trading212

WikiFX | 2024-01-08 18:01

Abstract：Have you ever heard about a broker named Trading212? WikiFX made a comprehension review on this broker to help you better understand the truth, we will analyze the reliability of this broker from specific information, regulation, exposure, etc. And you should never miss it.

About Trading212

Trading212 is a UK-based forex broker that offers various financial instruments for trading, including Forex currencies, indices, commodities, stocks, and cryptocurrencies.

Is Trading212 Legit？

Trading212 holds a comprehensive range of licenses, highlighting its commitment to regulatory compliance and customer protection. In the United Kingdom, Trading212 possesses a full license granted by the Financial Conduct Authority (FCA) under license number 609146. Furthermore, they have obtained a forex license from the Cyprus Securities and Exchange Commission(CYSEC) under license number 398/21. However, the official regulatory status of VFSC (license number: 40517) is revoked. The CYSEC regulation (license number: 290/16) claimed by this broker is suspected to be a clone.

Account Types & Minimum Deposit

Trading212 offers investors three different investment options on its platform, including the Trading212 INVEST account, Trading212 ISA account, and Trading212 CFD account. One of the most attractive features of these accounts is that they all require a minimum initial deposit of $1, making it accessible for most regular traders to get started.

Exposure

While Trading212 has a good WikiFX score, this does not mean that the platform does not receive user complaints. In the past three months, we have received four complaints against the broker. People claimed this broker was a scam. We advise you to avoid this broker as possible as you can.

On-Site Inspection

To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses. On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button. WikiFX did make an on-site survey on trading212 in London but failed to find their office. However, WikiFX also conducted another on-site survey on this broker in Cyprus and successfully found its office.

Spreads & Commissions

Trading 212's spreads start from 1.2 pips on EUR/USD. This broker does not charge any commissions for trade executions but collects a brokerage fee from the spreads.

Trading Platforms

Trading212 offers investors not the most popular MT4/MT5 trading platforms but a mobile application that can be downloaded from the App Store or Google Play.

Conclusion

Trading212 can be an ideal choice for beginners due to its regulated status, demo accounts, and accessible customer support. However, traders should be aware of the platform's limitations, including the limited product range, restrictions on certain trading strategies, inactivity fees, and a somewhat restricted research selection.

Before deciding to invest with Trading212 or any broker, it's crucial to stay updated with the latest information on WikiFX and conduct your due diligence. Market conditions and broker reputations can change, so make sure to make informed decisions to avoid potential regrets in your trading journey.

Broker

Related broker

Regulated

TRADING 212

Company name：Trading 212 UK Ltd

Score

8.74

Website：https://www.trading212.com/en

10-15 years | Regulated in Australia | Regulated in United Kingdom | Regulated in Cyprus

Score

8.74

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