Is Trading212 a Scam or a Legitimate Broker?

Investment ForumCategory: Broker QuestionsIs Trading212 a Scam or a Legitimate Broker?
Ranon asked 6 months ago

Please let me know whether the brokers at Trading212, located at 107 Cheapside London EC2V 6DN, is a genuine broker, or another scam operation.

Up to what amount are funds guaranteed, and are they really commission free?

Is anyone actually making a profit with Trading212, and have you been able to withdraw your profits. On their website it says “80% of retail investor accounts lose money when trading CFDs with this provider”.

3 Answers
Scam Trading Brokers Staff answered 6 months ago

Hi Ranon,
 
Most CFD brokers are commission free, because they make their money from the Bid/Ask spread. Some brokers like Pepperstone offer an ECN account which has Zero spreads, but charge a commission per trade. Depending on your trading volume, determines which account type is best for you. 
 
Take a look at our best brokers page, and see which brokers most people are using now.

Trading 212 answered 6 months ago

Hi Ranon,

Please be assured, that Trading212 is a legitimate broker, regulated by the FCA (ref. number 609146) and multiple other agencies worldwide.

Feel free to contact us via any of our available channels, where we’ll be happy to answer any other questions you might have.

Jay answered 6 months ago

They are a legitimate company and I’ve never had any issue withdrawing money whenever I’ve wanted to.

Their iOS app is pretty ugly and the usability is poor. Their Android app is much better, but I’m not too happy with the recent changes they’ve made to it. Similarly, they’ve recently updated their website and made it slightly worse (because you can’t see price, market price, stop loss and profit limit in one place anymore).

There are often lots of glitches and downtime from their service in my experience. Today, for example, you cannot see the statistics (price, movements, etc) for shares on LSE. So the whole platform is pretty much unusable. They also have some very weird glitches if you buy expensive shares and want to set stop orders or limit orders. If you are investing small amounts of money and trading in low priced shares then it should be fine for you.

I don’t trade CFDs so have no idea about that side of their service.

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