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  • Investment Style: DIY
  • Available Products: ISA, Trading 212 Invest, Trading 212 CFD, Trading 212 Pro
  • Customer Support: In-app chat, mail
  • Currency Conversion Fee: 0.15%
  • Regulation: FCA, CSEC, FSC
  • Maximum Leverage: 1:500

minimum price:

Free

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Trading 212 Review

This Trading 212 review focuses on one of the most popular brokers in the UK. Its unique account selection makes it an excellent choice for experienced players and first-time investors alike. Stay tuned if you want to familiarise yourself with the platform before giving it a try.

Trading 212 Review

minimum price:

Free

Visit Website
  • Investment Style: DIY
  • Available Products: ISA, Trading 212 Invest, Trading 212 CFD, Trading 212 Pro
  • Customer Support: In-app chat, mail
  • Currency Conversion Fee: 0.15%
  • Regulation: FCA, CSEC, FSC
  • Maximum Leverage: 1:500

Best For

DIY investing

STRENGTHS

  • Thousands of tradable assets
  • Demo account available
  • Screening for CFD trading
  • Easy-to-use mobile app

WEAKNESSES

  • Long waiting times for account approval
  • Limited charting options

Choosing a broker is as essential as deciding what types of investment products you want in your portfolio. A reliable broker can help you profit faster and find an ideal investment style that matches your needs. 

With that in mind, traders should consider several factors when opening brokerage accounts. For example, high fees can rob you of your profits, and a complex user interface often makes the trading experience unpleasant. 

However, with a broker such as Trading 212, you’ll never have to worry about these issues. In this Trading 212 review, we’ll explore the benefits of trading on this platform and see why this service provider is among the best in the UK. 

This article will cover the following topics:

What Is Trading 212?

Trading 212 is an online broker founded in 2004 in Bulgaria. Soon after the platform launch, it conquered other parts of Europe, eventually being available in over 100 countries worldwide. 

Trading 212’s headquarters are now in London, UK, and so far, the platform has attracted over 1.5 million clients. This broker has over £3 million worth of client money under management, making it one of the largest trading platforms in the UK. 

Who Is Trading 212 for?

Trading 212’s user-friendly mobile and web platforms make it a good choice for first-time investors. However, Trading 212 is more suited for experienced players. This broker has a decent selection of available assets and investment accounts, and its pricing model will surely make you glad you’ve found this app. 

If you feel like the following statements are true, Trading 212 may be a perfect platform for you:

  1. You are an experienced investor looking for an innovative and easy-to-use trading app.
  2. You are an investor who doesn’t want to spend a lot of money on fees.
  3. Investing in valuable assets is your top priority. 
  4. You want to practice stock trading before putting real money to work.
  5. You believe learning on the go is the best way to improve your trading skills. 

Still, as it usually goes, you must be at least 18 to open a trading account with this service provider. Additionally, you must be a resident of one of the countries where Trading 212 is available.

How Does Trading 212 Work?

Trading 212 is a broker, not a robo-advisor. In other words, Trading 212 doesn’t offer financial advice, and all clients manage their portfolios. So, although the self-directed path has many benefits, it certainly isn’t for everyone. 

DIY investing allows you to choose the companies you want to invest in manually, teaching you how to track the markets and make better investment decisions. However, managing a portfolio yourself, without any experience in this field, can burn a hole in your pocket.

On a positive note, Trading 212 has a Practice Account you can use to prepare for a real trading experience. Even if you’re an experienced investor, using the Trading 212 Practice account is an excellent way to test all features on this platform without spending a penny. 

The Trading 212 demo account is a replica of the standard platform and includes all features you need to execute trades. You’ll get $50,000 (roughly £40,000) in virtual funds to test and elevate your skills and unlimited access to all tradable assets available on the app. 

Accounts and Services

Trading 212 offers four account types, allowing you to achieve different investment goals. You can choose an account depending on your investment style, so let’s discuss your options.

Trading 212 Invest

With Trading 212’s Invest account, dealing with stocks and shares doesn’t have to be challenging. Trading 212 has over 10,000 carefully selected stocks and ETFs available for trading, allowing you to explore various markets and enrich your portfolio. 

Those who want to invest in industry giants know how difficult it is to purchase shares of these companies without paying the total price. Luckily, Trading 212 allows investing in fractional shares. You can invest as little as £1 in companies such as Amazon, Apple, and Google. 

Investing in stocks and shares via Trading 212 is instant and commission-free. On top of that, this account type comes with the Pies and AutoInvest feature that will help you customise your financial goals and deposit your funds or invest dividends automatically.

Trading 212 ISA

When it comes to Individual Investment Accounts (ISAs), the same rules and regulations apply to every service provider offering these account types. For example, the Trading 212 ISA account has a deposit limit of £20,000 per year, also known as the ISA allowance

Although there are a few types of ISAs, you can only open a Stocks and Shares ISA with Trading 212. This is a tax-efficient investment amount which will save you from paying capital gains and income tax.

Trading 212 CFD 

CFDs are complex and risky investments. If you intend to trade with CFDs, do research and learn how to handle the trade executions. Otherwise, you might end up losing more than you can afford.

Trading 212 will ask you several questions to test your CFD trading skills during the account opening process. Of course, Trading 212 will reject your request to trade with CFDs if your answers show you aren’t ready for complex trading instruments. 

If you end up with a Trading 212 CFD account, you’ll be able to trade on all major markets. That includes forex, stocks, commodities, and indices. What’s more, Trading 212 offers commission-free CFD trading with tight spreads and negative balance protection.

Note: 77% of retail investor accounts lose money when dealing with CFDs. Ensure you understand the risks of trading with CFDs before getting involved.

Trading 212 Pro

Trading 212 leverage is set to a standard rate, up to 1:30. However, if you want to use more leverage (up to 1:500), you can upgrade from a standard to a professional account. 

Trading 212 Pro account is available to UK customers only. To open it, you have to meet two out of three criteria listed below:

Trading 212 Pro Account Criteria | CyberCrew

Trading 212 Fees

Trading 212 fee structure is transparent and easy to follow — all Trading 212 charges are displayed on its website. 

Here’s a breakdown of Trading 212 fees:

Account Opening Fee Free
Deposit Fees 0.7% after depositing £2,000 in total (doesn’t apply to banks and instant bank transfers)
Withdrawal Fees No
Open Position Fees No
Commission Fees No
Currency Conversion 0.15%

Account Setup and Withdrawals

This section of my Trading 212 review will focus on the signup and withdrawal procedures. I’ll then explain how to deposit money into your Trading 212 account and which deposit methods are available on the platform.

Account Setup

Due to the rise in demand, Trading 212 can process only a handful of accounts per day. As a result, some users wait up to four months for account approval. Theoretically, you can open a Trading 212 account in minutes. However, in reality, you will most likely wait for weeks, or even months, to start investing with this broker.

On a positive note, Trading 212 is trying to solve this issue and process more accounts in the same time frame. Hopefully, we’ll see the results of their efforts soon.

You will need to provide the following information to open a Trading 212 account:

  1. Personal information, such as full name, address, and country of residence
  2. Date of birth and the national insurance number
  3. Email address and phone number
  4. Proof of identity
  5. Information regarding your employment status and annual salary

Withdrawals and Deposits

If you want to withdraw funds from your Trading 212 account, you’ll first need to log into your app. This is how you should proceed:

  1. Click on the Account Menu 
  2. Select Manage Funds
  3. Tap on the Withdraw Funds button
  4. Confirm your password
  5. Select the account you want to withdraw money from and specify the amount
  6. Choose the payment method
  7. Proceed by confirming the withdrawal

To deposit money into your account, go to Manage Funds, and click on the Deposit button. The steps you need to take are similar to those listed above. The minimum deposit at Trading 212 is 1 GBP/EUR/USD. However, if you have a CFD trading account, the minimum deposit is 10 GBP/EUR/USD.

The minimum withdrawal amount for Invest and ISA accounts is also 1 GBP/EUR/USD. 

The available payment methods at Trading 212 are bank transfers, instant bank transfers, Google/Apple Pay, and credit/debit cards. Since this is a decent selection of payment methods, you won’t have to open an account with another service provider just to send and receive funds from Trading 212.

Mobile App

In addition to a web-based platform, Trading 212 offers a clean and fast smartphone app, allowing you to execute and monitor your trades effortlessly. The Trading 212 app is essentially a replica of the platform, so you won’t miss out on any features if you decide to install it on your mobile device. It is available for iOS and Android devices.

The app is free to download and updated regularly. You can use it to trade over 5,000 CFDs on stocks, forex, oil, indices, or other attractive assets. On top of that, US-based SecurityMetrics regularly performs penetration tests and scans to ensure the app is secure and bug-free. 

Security

Trading 212 is regulated by several regulatory bodies. This broker is registered in Bulgaria, where it’s regulated by the Financial Supervision Commission, as well as in England and Wales, where it’s also regulated by the Financial Conduct Authority (FCA). Another body regulating Trading 212 is the Cyprus Securities and Exchange Commission.

Trading 212 relies on its 24/7 Security Operations Centre to monitor and analyse the traffic on the platform. Its agents respond to alerts and make sure the customers are always protected.

Trading 212 Competitors

The next step in my Trading 212 review is to address the differences between this broker and its competitors — Freetrade and eToro.

Trading 212 vs Freetrade

Freetrade is a mobile-only app, with only Freetrade Plus members being able to log in via a browser. Trading 212, on the other hand, allows you to effortlessly place trades regardless of whether you’re using a computer or smartphone.

Note that Freetrade is less expensive. Although Trading 212 charges below-average fees, its competitor is drastically cheaper. Still, Trading 212 offers trading with a broader asset selection, including thousands of stocks and CFDs.

Although both these apps are good, it all boils down to what you expect from a broker. If you want flexibility, Trading 212 is a better app for you.

Trading 212 vs eToro

Both eToro and Trading 212 offer commission-free trading, making them some of the cheapest brokers in the UK. However, it’s worth noting they may charge additional fees for currency conversion, withdrawals or deposits. 

Both platforms offer demo accounts for clients to practise trading in an error-friendly environment. However, eToro’s demo account allows you to trade with up to $100,000 (roughly £80,000), while Trading 212 offers $50,000 (roughly £40,000) in virtual funds. 

If you perform in-depth research, you’ll find many similarities between these platforms. However, I’d choose eToro for now, primarily due to long waiting times at Trading 212.

Customer Support

If you have any questions about Trading 212 services, its customer support is ready to help 24/7. You can contact them via in-app live chat or submit a chat request if you don’t have a Trading 212 account.

Trading 212 has been trending for a while, so its customer service agents have had their hands full over the last few months. As a result, users might have to wait longer than usual for a response. 

I’ve submitted several requests to give you a better idea of the average response time. On average, I’ve waited roughly 15 minutes for a reply from Trading 212 customer service, which is fast considering they had to answer via email.

User Reviews

Trading 212 has 4.4/5 and 4.5/5 star ratings on Google Play and Trustpilot, respectively. Its rating on Google Play is based on over 121,000 votes, while over 19,200 users left a review on Trustpilot.

Trading 212 User Reviews | CyberCrew

Based on Trading 212 reviews on these platforms, we can conclude that users think of Trading 212 as a trustworthy broker. They’re satisfied with the available assets and the fast and knowledgeable customer support. Furthermore, they appreciate how easy it is to invest with this service provider. 

However, let’s address the negative reviews as well. Some traders claim they’ve lost everything on this platform, mainly after trading with CFDs. Still, losses are inevitable whether you’re trading with these instruments on Trading 212 or any other platform. 

CFDs are some of the riskiest trading instruments, especially when trading with leverage. Trading 212 has these warnings highlighted on its website, so those unfortunate users were most likely familiar with the risks involved.

Wrap Up

With so many new users rushing to try out this trading platform, Trading 212 is absolutely worth the hype. So, I hope this Trading 212 review has provided more insight into why this broker has gained popularity and praise among thousands of users. 

My final verdict is that Trading 212 is one of the best brokers for experienced traders looking to trade on a safe and reliable platform. Although it faces minor issues due to the rise in demand, the platform will resolve them soon, allowing you to trade instantly and hassle-free.

FAQ

Is Trading 212 good for beginners?

Trading 212 is tailored for experienced investors. However, many first-time traders thrive on this platform, as it features quality educational content. The Trading 212 community is supportive, so you’ll always have someone to rely on when you hit the wall.

However, if you aren’t comfortable with risks, it’s advisable to avoid Trading 212. Instead, consider eToro, which offers copy trading, allowing you to copy trades from other successful investors on the platform. 

How long do Trading 212 withdrawals take?

The average Trading 212 withdrawal time is three business days in most cases,. However, you may have to wait additional two to three days for your payment service provider to complete the withdrawal process.

Is Trading 212 trustworthy?

Yes, Trading 212 is a trustworthy UK broker regulated by the FCA and several other European regulatory bodies.

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