-- While Forex trading is a good way to earn profit, selecting the right platform takes the majority of the work. Traders Union’s ranking aims to provide unbiased and complete information on brokerage companies to help traders make the right decisions.
Traders Union has released its verdict on 212 Trading, placing the platform on the 100th place with a TU Overall Score of 4.62 out of 10.
According to the TU Methodology, this score is categorized as a higher-than-average risk, and experts recommend traders to look for a more reliable broker with better conditions.
Trading 212 features a low level of minimum deposit of only €1, with a wide selection of trading assets. Spread starts from 0 pips, while leverage starts at 1:30 for retail clients and 1:500 for Pro clients.
On the downside, the platform scored poorly in user satisfaction and customer support. It lacks an investment program, and offers a limited number of ways to contact the company in case of urgent inquiries.
Traders Union evaluated Trading 212 using 100 parameters
Traders Union conducted a comprehensive evaluation of Trading 212 using an extensive assessment system comprising more than 100 parameters under five categories namely financial standing, reliability, safety, trading conditions, and service work.
- 1. Traders Union's experts utilized a total of 38 criteria to analyze the financial stability of these brokers. These criteria encompassed factors such as solvency, trade performance trends, and the current economic health of the company.
- 2. Traders Union experts applied 27 criteria to look into the brokers' reputation and overall customer satisfaction.
- 3. Traders Union experts employed 18 criteria to assess the safety of funds held in the broker's accounts. Licensing and regulatory compliance has been taken into account.
- 4. Through the analysis of 15 criteria, experts evaluated how well the trading conditions offered by each broker aligned with real-world trading scenarios.
- 5. Traders Union conducted an evaluation of the quality of technical and customer support provided by the platform using nine focus areas, including its responsiveness to queries.
The TU Overall Score for Trading 212 review
Traders Union strongly recommends opening and funding an account with brokers with scores ranging from 8.0 to 10.0.
While it strongly advises against engaging in trading activities with brokers with scores of 2.99 or lower.
The full legend used are as follows:
- Brokers with scores ranging from 8.0 to 10.0: Most dependable platforms in the Forex market.
- Brokers with scores from 7.0 to 7.99: Highly reliable and deserving of trust.
- Brokers with scores from 5.0 to 6.99: Mid-level companies that are generally reliable.
- Brokers with scores from 3.0 to 4.99: Pose a significant level of risk.
- Brokers with scores of 2.99 or lower: Not favorable compared to their better-ranked counterparts.
Best Forex trading demo accounts to choose aside from Trading 212
Traders Union recommends the following Forex trading demo accounts for those looking for an alternative to Trading 212:
- Roboforex (best MetaTrader demo account)
- Exness (best for advanced Forex trading demo)
- IC Markets (best ECN demo account)
- FxPro (best for demo CFD trading)
- eToro (best free stock trading)
- Oanda (best demo account for unlimited Forex trading)
- XM (best for Forex education)
These top-rated Forex demo accounts allow traders to practice trading without risking any real money. Such a strategy is a great way to learn the basics of Forex trading and to test out different strategies before opening a live trading account.
About Us: Traders Union is a financial portal providing traders and investors with necessary information to make their endeavors in the financial markets profitable. Our mission is to build a space where traders and investors can quickly find information about the best brokerage companies that offer the most beneficial and comfortable working conditions in the financial markets.
Contact Info:
Name: Peter Halt
Email: Send Email
Organization: Traders Union
Phone: +35725060055
Website: https://tradersunion.com/
Release ID: 89108626
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