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Questrade Review

Questrade is a Canadian broker, established in 1999, that offers resident Canadian citizens an alternative to trading and investing with the big banks. If you already have a registered account with any Canadian broker/financial institution, you can transfer it to Questrade; if not, you can open a Questrade account on their web platform. Questrade provides…

Questrade Review

Questrade is a Canadian broker, established in 1999, that offers resident Canadian citizens an alternative to trading and investing with the big banks. If you already have a registered account with any Canadian broker/financial institution, you can transfer it to Questrade; if not, you can open a Questrade account on their web platform. Questrade provides trading in stocks, options, bonds, exchange-traded funds (ETFs), and mutual funds. Contracts for differences (CFDs) and forex are also available to trade, though they require the use of a separate platform. In addition, Questrade offers guaranteed investment certificates (GICs), international equities, access to initial public offerings (IPOs), and precious metal purchases.

You must have a Canadian address to open an account. Questrade cannot hold regular trading accounts (non-registered accounts) for U.S. residents, even if they are Canadian citizens.

Key Takeaways

  • Only Canadian residents are allowed to open an account with Questrade
  • The web and downloadable platforms are well-designed and easy to use
  • Streaming data requires an additional subscription which may cost up to $89.95/month
  • Accounts can be held in either US Dollars or Canadian dollars

Who This Broker Is For

Questrade is a fit for you if you are a Canadian citizen and resident, and wish to avoid the high fees and restrictions placed on those who hold investments at banks. It offers a lot more flexibility to Canadian investors, including an automated portfolio builder and significantly lower fees.

Pros

  • No fees charged for tax-free savings accounts (TFSA) or registered retirement savings plans (RRSP)
  • Easy-to-use website and mobile app
  • Relatively low trading fees compared to other Canadian brokers
Cons

  • Limited research offerings
  • $24.95 CAD per quarter inactivity fee in accounts with $5,000 or less
  • Streaming real-time quotes require a subscription

Pros Explained

  • Most Canadian brokers charge fees that average around $50 CAD for tax-free savings accounts (TFSA) and registered retirement savings plans (RRSP). Questrade waives these fees.
  • Both the website and the mobile apps have simple layouts and appear very similar, so there’s no jarring transition from one to the other.
  • Relatively low trading fees, ranging from $4.95 to a maximum of $9.95 for stock trades, compared to other Canadian brokers.

Cons Explained 

  • Questrade screeners are limited to an extremely simple stock and options screener. Technical or statistical criteria are not offered.
  • Questrade has lowered the amount you need to maintain in your household’s accounts to $1,000, but small accounts with no activity for the previous quarter are charged $24.95 CAD.
  • Streaming real-time quotes require a subscription ranging in price from $19.95 CAD per month for limited streaming data to $89.95 each for Level 2 US or Canadian data. These data fees can be offset by generating a certain amount of trading commissions.

Usability

Getting started with a new account is relatively simple. New customers can sign up for a new account on the Questrade website, and go through a few videos that offer guides to the various available platforms. If you’re transferring an account from another brokerage or bank, Questrade will rebate up to $150 in transfer fees.

Overall, the platforms are intuitive and easy to navigate. Questrade clients can trade on two desktop trading platforms or the mobile app. Questrade Trading is the web-based platform, offering basic charting, quotes, watchlists, and research tools. There are a few customization options, such as choosing columns for reporting and order entry defaults. Overall, the web platform is fairly easy to learn and use. The downloadable platform is called IQ Edge, and it is very customizable with additional research features and order types. Quotes on both platforms are snapshots, meaning you have to refresh the screen manually for updates, unless you pay an additional fee for streaming quotes and data.

The mobile app is essentially the same experience as the web version, scaled to fit the device.

Trade Experience

Questrade clients can trade via two desktop trading platforms and a mobile app, plus a forex and CFD platform, each offering a different experience. Questrade Trading allows some customization of trading defaults as well as watchlist display and portfolio listing. IQ Edge is a downloadable platform for active traders that is considerably more customizable than the web platform. IQ Edge has more features, such as advanced order types, and enables hotkey functions, charts with more tools, as well as advanced layouts that can be saved. The scanning functions built into IQ Edge would be most useful if customers also purchase the add-on streaming data package.

Forex and CFD trading require a different platform as these asset classes cannot be traded on either Questrade Trading or IQ Edge. For those who trade multiple markets, trading from two platforms might be cumbersome. For forex traders, the platform is intuitive, customizable, and offers advanced charting and access to more than 55 currency pairs as well as eight CFDs. The CFDs cover the S&P 500, the Dow Jones Industrial Average (DJIA), West Texas Intermediate Crude Oil, Natural Gas, Gold, Silver, Copper, and Corn.

Overall, the platforms are intuitive and easy to navigate. Placing trades is straightforward with multiple ways in each platform to initiate a trade window.

Mobile Trade Experience

Questrade’s web-based platform is mobile-enabled, and the display adjusts to whatever device you are using. Watchlists created on the web platform are also accessible on the mobile platform. Trading forex and CFDs requires the Questrade FX Global app. While the two apps operate in similar ways and have similar functions, you will have to use two different apps if you trade multiple markets.

Range of Offerings

Questrade clients can trade a variety of asset classes, though some require the use of a separate platform.

  • Stocks long and short
  • Mutual funds
  • Bonds via live broker, minimum $5,000
  • Precious metals
  • Simple and multi-leg options
  • Robo-advisory, Questwealth Portfolios, on a separate platform
  • Some international equities can be traded via live broker
  • Forex and CFDs on a separate platform
  • Initial public offerings (minimum $5,000)

Order Types

Questrade clients can place market, limit, stop limit, trailing stop, and bracket orders on all platforms. IQ Edge enables a wide variety of conditional orders that are not available on the web or mobile platforms.

Trading Technology

Questrade does not publish information about how orders are routed.

Costs

Questrade has two pricing structures. Standard pricing is $0.01/share with a minimum of $4.95 and a maximum of $9.95 per stock or ETF transaction. Active trader pricing is activated when a client purchases an Advanced Data Package (Level II quotes on Canadian or U.S. exchanges).

Advanced-Data Packages are $89.95 CAD for the Canadian package and $89.95 USD for the U.S. package. Customers who generate more than $48.95 in monthly commissions receive a $19.95 rebate on the package fees. A full rebate on package fees is credited when a customer generates $399.95 in commissions in a month.

    • Cost to open or close an order of 1 share is $4.95. Cost to open or close 1000 shares is $9.95. Opening an ETF position is free; closing it invokes regular commissions.
    • Options base commission to open and close is $9.95.
    • Options per contract fee is $1.
    • Fee for 50 contracts is $59.95.
    • Covered call trade of 500 shares plus 5 contracts is $19.95.
    • Options exercise/assignment fee is $24.95.
    • Mutual fund fees are $9.95 per transaction.
    • Margin interest at $10,000 balance is 5.95% CAD or 7% USD. $100,000 balance is 4.95% CAD or 6% USD. Margin interest for registered accounts is approximately 4.5% higher.
    • International equities are 1% of the trade value with a minimum of $195.00 plus applicable exchange or stamp fees, charged in the currency of the account in which the trade is placed.
    • Inactivity fee is $24.95 per quarter for accounts with balances below $1,000.
    • No account closure fee.
    • Account transfer fee is $150 for a full transfer, $25 for a partial transfer.
    • Wire fees are $20 CAD, $30 USD, $40 international.

 

  • Check fees are $50.
  • Advanced Data Packages are $89.95 CAD for the Canadian package and $89.95 USD for the U.S. package.
  • Paper trade confirmations or account statements are $20.
  • Live broker fee is $45.

Account Amenities

  • Questrade does not offer portfolio margining
  • Questrade does not have a stock loan program
  • No interest is paid on cash balances
  • You can enroll in DRIP (dividend reinvestment) plans

Research Amenities

All of Questrade’s platforms offer a news feed. Clients can read news related to specific companies and the world economy from sources including Business Wire and Canada Newswire. Research reports and analysis on companies is available from Market Intelligence, a fundamental data and research service powered by Morningstar, on assets traded on all major North American markets, including TSX, TSX Venture, NYSE, NASDAQ, NYSE American and NYSE Arca. Questrade Trading screeners are limited. There is a relatively unsophisticated stock and options screener, which includes only simple criteria such as price, volume, volatility, and fundamentals. Technical or statistical criteria are not offered.

Active traders have access to Intraday Trader, which is pattern recognition software that finds historical patterns with a profitable edge and then notifies the trader when those patterns occur again.

Questrade clients can take advantage of partnerships with third party analysis and trading platforms including VectorVest, YCharts, OptionsPlay, Quantcha and Trading Diary Pro. These partners fill in some gaps in the Questrade platform, especially for technical analysis junkies. There is an additional cost depending on the partner chosen.

Charting on IQ Edge is more sophisticated than that available on the web platform. IQ Edge also includes some real-time market scanners, which are only useful if you are paying for streaming real-time data.

Portfolio Analysis

All platforms display real-time snapshot balances, buying power, positions, margin balance, and profit and loss. You can customize these reports by adding and deleting criteria. The account tab on the browser-based platform displays open orders, executions, and activity such as dividends and deposits.

On IQ Edge, you can arrange the widgets in a way to display all of your account activity and balances. There is no built-in trading journal, but you can subscribe to a third-party application if you’d like to access that feature. IQ Edge offers more insight into a client’s portfolio, with analysis that shows exposure to various sectors, asset types, industries, and currencies.

Education

The Questrade platforms are straightforward and intuitive. Webinars and live events are rare, although the Questrade YouTube page does have some videos. These are available to everyone for free. There are occasional new blog posts published, but these are not tagged to make them easy to locate. They’re listed in reverse chronological order only.

For newer traders with lots of questions, Questrade provides basic answers to questions such as how to place orders, what order types to use, and how to install the trading platforms. Questions are answered in the “How To” section of the Questrade website. Click on the Resources dropdown menu, and then select “Help & How-To.” There isn’t a menu of topics to browse, though, and not all articles are listed. You’ll have to use the search to find articles on a specific query, which randomly spawn a new browser tab. After a long session of searching for answers, you’ll wind up with a messy window.

If you’re looking for useful trading education, such as how to become a better trader or investor, Questrade has little to offer here. The website and YouTube channel provide basic trading information.

Customer Service

  • Phone line available 8 am – 4:30 pm Eastern time
  • Online chat for prospective and current customers on the website
  • Live brokers are available during market hours
  • No organized FAQ on the website though you can search for answers
  • Email support takes 1-3 days for a response

Security

  • Customers can define a PIN for two-factor authentication
  • Biometric entry enabled for mobile apps
  • Online security guarantee that reimburses customers for unauthorized transactions
  • Registered with the Investment Industry Regulatory Organization of Canada (IIROC).
  • Customer accounts are protected by the Canadian Investor Protection Fund up to $10 million per account

Our Verdict

The zero-commission stampede that swept brokers in the United States stopped at the Canadian border. Questrade’s fees are lower than most other Canadian brokers and banks, and rebates offered on subscription costs means active traders can erase, or partially offset, market data fees. There are quite a few useful tools for fundamental investors at Questrade, and the platforms are very easy to use.

Long-term investors benefit from relatively low commissions as well as access to no-cost-to-buy ETFs. Those who want to have their portfolios managed can sign up for Questrade’s digital advisory service, which charges 0.20-0.25% of assets under management.

Inactive investors with very small accounts (under $1,000 CAD), are subject to a quarterly $24.95 inactivity fee. That is 2.5% per year on a $999 balance and a higher percentage if holding less than that in the inactive account. Having a balance of more than $1,000 remedies this problem, as does making even just one trade each quarter.

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Broker Reviews

Buycryptomarkets Review – top 75 Broker?

Buycryptomarket for trading crypto

Buycryptomarkets Review

buycryptomarkets is a global forex and CFD broker with trading platforms that is suitable and fully functional for all devices.

This is a good option for all levels of traders, although the product portfolio is average, and there is an inactivity fee to be aware of.

Initially formulated in 2023 to provide a robust forex trading platform, buycryptomarkets offers to include CFDs, indices, shares, commodities, and cryptocurrencies.

buycryptomarkets has several trading tools and features designed to make your trading experience as smooth as possible. The trading platform has been heralded as a simple and convenient platform without losing the functionality you would find at MetaTrader 4. Some education is also available through the trading platform, and highly responsive customer service is available 24 hours a day.

Please read my full buycryptomarkets review for further details of this forex broker so you can decide whether buycryptomarkets can meet your needs.

Who is buycryptomarkets?

buycryptomarkets is a global forex, spread betting, and CFD online broker. buycryptomarkets is an online Crypto and Forex Broker providing traders across the globe with cutting-edge technology to trade the world’s markets. In a continuous effort to give their traders a more comfortable and safe trading experience, their experts have been improving their service and solutions ensuring traders have the freedom to trade whenever and wherever they like.

 

buycryptomarkets product range overview

The product range at buycryptomarkets is average compared to other brokers. They offer a solid selection of currency pairs and CFDs, no futures CFDs, and an average number of commodity and stock index CFDs. additionally, they do offer leverage trading on the main cryptocurrencies.

Forex trading

More than 50 Forex pairs are available at buycryptomarkets with no commission and some of the tightest spreads in the industry.

Indices and Financial Trading

Indices and financial CFDs have flexible margin requirements and low spreads, representing some of the industry’s best spreads. There are no overnight or hidden fees of any description to worry about.

Commodities Trading

At buycryptomarkets, there are several commodity CFDs, including metals and energies.

Share CFDs Trading

Trade more than 100 company shares without ever owning the underlying security. At buycryptomarkets, you can access global stock exchanges with the option to go long and short and benefit from leverage. For non-leverage trading, there is zero commission.

 

Buycryptomarkets Accounts

There are a few trading account options at buycryptomarkets.  there is not a lot of info concerning this till you are actually in the registration process.

the only thing you should know is that the minimum deposit for opening an account is only $250.

Variety of Trading Accounts

No matter your trading exposure, you deserve an opportunity to trade in CFDs. With access to multiple trading account types, you can choose the right account for yourself and start performing trades in multiple CFDs.

The more experience you gain in the online trading market, the higher trading account you can adopt to trade in more challenging environments. If you are a beginner, start by making a minimum deposit of $250 to trade with a basic account.

Buycryptomarkets  web trading platform

The web platform allows you to place trades directly from your web browser in an easy-to-use interface that is customisable and available in several languages. The web trading platform falls short because of its lack of social trading; however, it is well-designed with several useful features.

There is a two-step login for additional security, and you can search for an asset using its name or by category. Order types include:

I was impressed with both the portfolio and fee reports which were comprehensive and easy to use, with clear information on commission, swap fees, and performance.

There are also the following useful features available on the trading platform:

Trailing stop

Trailing the position of a current price can then trigger a stop order as the price reaches a predetermined distance from a stop order. It works similarly to a stop order but in a more controlled way that aligns with movements in the market.

Market Sentiment

This allows you to closely monitor movements in the market using data from other traders concerning a specific instrument.

Hedging

This allows you to mitigate risks by investing in the same product in a different direction.

Charts

Real-time charts provide up-to-the-moment information, including historical trends, forecasts, and current trends.

Buycryptomarkets mobile trading platform

The mobile trading platform is in keeping with the web trading platform, with much of the same functionality. 

The actual design is well laid out and easy to use with customizability. I found the mobile app fast with personalised watch lists and the ability to open positions directly from real-time charts.

There are price alerts that include statistical alerts, which can be monthly or yearly for currency pairs, indices, etc. Clicking on the alert will automatically open the app on the instrument.

 

buycryptomarkets customer service review

Customer service is excellent at buycryptomarkets, with immediate response times across multiple channels.

There are several channels for contacting customer support, including phone and email. When I tested their service, my query was dealt with immediately without even the intervention of a chatbot. The service provided via email and phone was similar, with fast, relevant responses to my queries. Customer service is provided 24/5, which is above average.

buycryptomarkets is opening an account.

The account opening process is straightforward, fully digital and quick. You will need your ID.

To open your account, you should first decide on the account type you wish to open

Then you can follow these quick and easy steps:

  • Select your country of residence
  • Add personal information, including name and email address
  • Choose a password
  • Enter your home address and tax residency
  • Complete some simple questions relating to your trading experience
  • Fill in information about your personal finances, such as income savings and employment status
  • Select your base currency
  • Upload your ID documentation and proof of address, such as a utility bill or bank statement.

buycryptomarkets Deposit and Withdrawal

Deposits and withdrawals and essentially free, and the minimum deposit is high compared to what you would find at other brokers.

Before making your first deposit, you will need to choose between the following base currencies:

EUR, USD, GBP

Deposit options include:

  1. Bank transfer
  2. Credit and debit card
  3. Cryptocurrency

The minimum deposit is $5000, which is higher than other brokers. There are no fees should you choose to deposit via bank transfer from your bank account.

Bank transfers take several business days.

Withdrawals can be made using the same methods accepted for deposits, and there are no withdrawal fees for electronic wallets and credit/debit cards. 

buycryptomarkets safety

buycryptomarkets is not regulated by the Financial Conduct Authority (FCA) but is performing full due diligence to comply with AML regulations.

In addition, all client funds are held in segregated bank accounts to protect those funds should buycryptomarkets go bust.

The buycryptomarkets negative balance protection protects client funds should their balance go negative.

buycryptomarkets fees

buycryptomarkets has low CFD and forex fees and average non-trading fees.

Fees can be separated into two main categories for a CFD and forex broker: trading and non-trading fees.

Trading fees

The trading fees will vary depending on the financial instruments you are trading within each asset class. Trading fees can be charged as a spread, a commission, or a financing rate.

Spreads differ between the bid and ask price for a foreign currency price. Here’s how buycryptomarkets spreads compare against some other forex brokers:

Non-trading fees

buycryptomarkets has low non-trading fees as they do not charge deposit and withdrawal fees, and there is no account fee.

Inactivity fees are charged. There are inactivity fees to be aware of. However, these will only kick in once your account has been inactive for several months and you have a positive balance.

Who is buycryptomarkets suitable for?

buycryptomarkets is suitable for all levels of traders looking for a solid trading platform and very competitive spreads.

The selection of account types is aimed at both retail and professional investors.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. Concerning margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that these products’ methods, techniques, or indicators will be profitable or will not result in losses.

 

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Broker Reviews

Exallt Review – Demo Account – top 75 Broker ?

exallt review

Introduction to Exallt Review 

Let us start from the beginning. People should remember that Exallt offers many investment tools in the capital markets. Creating a portfolio with cryptocurrencies, stocks, commodities, ETFs, and more is possible.

It is a new brokerage that has just opened its door. That said, Exallt Live can offer exemplary services and products.

To get more details, proceed with Exallt review. The next sections will provide a detailed professional analysis of the broker and its offerings.

Broker Name:Exallt
Broker Type:CFD broker
Operating since year:2023
Regulation:Only KYC/AML
Broker status:Independent Broker
Customer Service
Phone:+44 2086382873
Email:[email protected]
Languages:English, Spanish
Availability:phone, email, Social Media
Trading
Trading platforms: Desktop, Mobile and Webtrader
The Trading platform Time zone:
Demo account:Yes
Mobile trading:yes
Web-based trading:yes
Bonuses:yes
Other trading instruments:Forex, CFD, crypto, commodities, indices, stocks
Account
Minimum deposit ($):$5000
Maximal leverage:1:400

 

Exallt Trading Products and Interesting Details

Commodities

Explore top commodities, trade what you want, when you want.

Explore trending commodities such as gold, silver, oil, and others, use innovative tools and make informed trading decisions at Exallt. Benefit from advanced charting and analysis as well as ultra-fast transaction processing. Exallt delivers a trading environment that helps investors to grow.

Interestingly, it is possible to trade different types of commodities. For example, oil and natural gas. Moreover, precious metals such as gold and silver.

Forex

Forex trading is made simple by Exallt.

Forex is the most traded market in the world. It is a decentralised global market for the trading of currencies. The most popular FX pairs involve major international currencies and experience the highest trading volumes and liquidity. This market determines foreign exchange rates for every currency.

Indices

Expand your trading opportunities. Trade the most popular indices at Exallt!

Indices are another in-demand trading asset. An index measures the performance of a group of stocks, bonds, or other assets. By trading indices, you can gain exposure to a wide range of assets without buying them individually. Most index trading is done with financial derivatives like CFDs. This makes it an ideal way to diversify your portfolio and manage risk.

Stocks

Trade stocks at Exallt.

Exallt is about making stock trading easier. Get real-time access to stocks from top exchanges of the world. Diversify your portfolio with a large variety of leading global stocks. Stock trading ensures two ways of earnings: through capital appreciation or dividend payments. This market features the potential for the highest returns.

Cryptocurrencies

Exalt – the easiest and the most secure way to trade cryptocurrencies.

If you can time the market right, trading cryptocurrencies gives you much higher returns than traditional investments. It minimizes risk as you speculate on the rise and fall of the market without owning the asset. Being decentralised, cryptocurrencies allow for more freedom in trading, as there are no restrictions on how much can be traded or how often.

range of markets

range of markets

Exallt and its Trading Platform

It is hard not to mention its platform. Hopefully, it is quite easy to use the platform. 

As a reminder, trading is simple. The first step is to select an asset. All users have to do is click on the “asset” tab on the platform. They need to choose a preferred asset from the extensive tradable asset selection offered by the firm.

The next step is deciding on the amount a trader wants to invest in any trade. Unsurprisingly, the higher the investment, the higher the potential rewards.

Moreover, deciding whether to go short or long on their preferred asset is important. Advanced charts, graphical trading tools, technical indicators, and live analysis help to make an informed decision on probable future price movements.

It is important to remember about risk factors. When a trade position opens, customers should protect their positions from market risks. Customers should use Stop Loss and Take Profit orders. Thanks to Stop Loss orders, it is possible to reduce potential losses. Moreover, Take Profit orders allows users to lock in their profits.

Users should remember that Stop Loss and Take Profit orders will automatically close their positions when triggered.

Exallt trading platform for all devices

Exallt trading platform for all devices

Exallt and Education

Hopefully, Exallt Live offers interesting information. It is desirable to read every chapter of the guide. Moreover, people will find this guide brimming with information for their financial education. Furthermore, Exallt ’s goal is to educate investors and bring transparent investing to anyone who wants it, not just the elite.

Security Of Funds

RISK MANAGEMENT

Exallt continually detects, assesses, monitors, and controls each risk associated with platform users’ trading transactions, operations, and actions. This means that they continuously evaluate the effectiveness and compliance of the policies, approaches, and procedures. Such a system approach allows Exallt to cover its financial needs and capital requirements quickly.

SEGREGATED ACCOUNTS

Exallt is incredibly proud of ensuring the ultimate protection of clients’ funds. They apply a model that keeps our clients’ funds separate from the company funds. In the unlikely event that Exallt would ever enter liquidation, the clients’ funds are wholly segregated off the balance sheet and cannot be used to cover the company’s debts and pay back creditors.

REACHING THE TOP EU BANKING INSTITUTIONS

Exallt attentively chooses the financial services to partner with. Exalt needs additional facilities to support and conduct transactions. They partnered with payment service providers to work with numerous banks worldwide, including central tier-one banks such as Barclays, HSBC & Deutsche Bank. Rest assured, the security of Clients’ funds, alongside Execution and Customer support, forms the essential focus of Exallt’s activity.

Exallt Review: Conclusion

As can be seen from the review of Exallt , it makes sense to cooperate with this firm. . Moreover, its website provides many interesting details, and it is desirable to have a look through their website to see how well Exallt suits you.

We strongly hope that this Exallt review will give you accurate information about the broker enabling you to make the right decision of choosing this broker.

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Broker Reviews

Trading 212 review

Trading 212 Trading 212 deals View Similar Amazon US Trading 212 is a London-based brokerage platform that aims to democratize trading by making it accessible to the masses. Founded in 2006, Trading 212 allows users to trade in a variety of assets including Forex and currencies, gold, commodities, crypto, and stocks, etc.

Trading 212 is a London-based brokerage platform that aims to democratize trading by making it accessible to the masses. Founded in 2006, Trading 212 allows users to trade in a variety of assets including Forex and currencies, gold, commodities, crypto, and stocks, etc.

Trading 212 got the license to operate in the UK in 2013 and is approved by the FCA (Financial Conduct Authority of England and Wales). It has a freemium model offering the basic services without any charge hoping that the users opt for other paid services or transact on the CFD area of the platform.

As a user, you can use their web-based trading suite or download the application on your computer. There is even a mobile app available for both iOS and Android phones, in case you want to transact on the go.

What to expect

Trading 212 offers an easy DIY platform and allows over 1,800 instruments to trade, offering enough options to traders to decide where and how they want to invest their money. These instruments include major cryptocurrencies like Bitcoin, Ripple, LiteCoin, Ethereum, Monero, EOS, Dash, Neo and more. Traditional assets like stocks, commodities and indices can also be traded on the platform. The diverse list of assets and choices available to trade on the platform should be attractive to many users.

Trading 212 2

(Image credit: Trading 212)

For first-timers, Trading 212 offers a demo account which lets you try out the platform and perform test transactions without registration. This demo account gives you a real-time experience of how the platform works on your computer and mobile applications. In case you decide to sign up, you do need to provide some official documents to verify your identity and address. These documents include:

  • ID Proof: a scanned color copy of passport, driving license or national ID
  • Address Proof: a utility bill or bank statement from the past three months carrying your address

These are simply standard requirements as part of anti-money laundering legislation.

Trading 212 3

(Image credit: Trading 212)

There is a set of questions which you need to answer for the company to understand your experience level as a trader. Trading 212 might reject your application on sign up, if the firm feels that it might be too risky for you to transact on such a platform. The entire signup process may take a good 10-15 minutes, so keep that much time handy.

Trading 212 offers you three different types of account: Trading 212 Invest, Trading 212 CFD and Trading 212 ISA.

Trading 212 Invest is best suited for traders who like to invest and trade in equities. However, the platform does not allow short-selling of equities, so in case you’re only interested in this type of trading then Trading 212 is not the right platform for you. Trading 212 ISA is only for UK-based traders who want to benefit from tax-free trading up to a certain amount, while Trading 212 CFD is open for all international traders.

In terms of deposit and withdrawal options, Trading 212 offers multiple choices like bank transfers, credit and debit card payments, Skrill, PayPal, Dotpay, Giropay, and Direct eBanking. Note that it only accepts payments in currencies like GBP, EUR and USD.

Trading 212 4

(Image credit: Trading 212)

The web platform is very easy to use and it offers an organized layout. On the extreme left, you have the instruments you follow by adding them to your watch-list. All your pending orders or previous purchases show right next to the watch-list. In case you want to modify your transaction after looking at the live trends, this can be done here as well.

The center part of the screen displays a detailed graph of any instrument that you want to follow. Useful tips and videos can be found on the bar on the right side. Various reports can be found grouped right under the login section.

Mobile app

The Trading 212 mobile application is also fairly easy to use and shows information in an easy to understand graphical format. Simple swipe gestures help you switch between different sections and instruments. You can set price alerts, access forum, reports, or training videos right from the menu. There is a demo account available for the mobile app too that allows you to transact in all the instruments.

Charges

Trading 212 is one of the few platforms that does not charge you for transactions and is transparent about the costs applicable with paid-for services. While withdrawing funds, there is a fee applicable on the wire transfers. Third-party transfer fees may also be levied, if applicable. The platform wants you to remain active and charges you for inactivity, if inactive for over 180 days consecutively.

Support

Customer support is one of the most important features of any trading platform. Support is available by calling in, email or even through the contact page on the site. The website also has a live chat option in case you want to chat with a representative.

Trading 212 offers support in a wide range of languages including English, German, Dutch, Spanish, French, Italian, Polish, Serbian, Norwegian, Swedish, Czech, Russian, Romanian, Turkish, Arabic, and Chinese.

Regulations and credibility

Trading 212 is a trusted broker registered in England and Wales, and is authorized by the Financial Conduct Authority (FCA). It is also registered in Bulgaria and is regulated by the local Financial Supervision Commission.

The company keeps the clients’ funds separate from the company funds and are protected under the Financial Services Compensation Scheme (FSCS) which offers a security of up to £85,000. In Bulgaria, 90% of deposits with a limit of €20,000 are secured by the Investors Compensation Fund or ICF Bulgaria.

Trading 212 allows users from across the globe to sign up, though regulations prohibit sign up from regions like American Samoa, Belgium, Democratic People’s Republic of Korea (DPRK), Guam, Northern Cyprus, Northern Mariana Islands, Puerto Rico, Turkey, United States of America, and United States Virgin Islands.

Final verdict

Trading 212 is a very user-friendly trading platform, especially for beginners. The fact that you can try out the platform both on mobile and web before taking the plunge is a big advantage. Limitations like no short-selling may be a turn off for traders. However, the fact that Trading 212 offers over 1,800 assets and is very transparent about charges makes it one of the easiest recommendations for us.

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