Getting started with Trading 212
Considering taking your first steps in investing but unsure if Trading 212 is the right choice for beginners like you? Curious about trading costs at Trading 212 or how user-friendly its platform is?
Don't worry, we've gathered all the essential details to help you make the right decision. The good news is that Trading 212 is in fact perfect for beginners.
Together with my brokerage analyst colleagues, I have thoroughly tested the services of Trading 212 by opening a real-money account. Here's what you need to know about Trading 212:
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A broker is good for beginners if it has low fees and an easy-to-use platform.
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Trading 212 has a user-friendly mobile platform.
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Trading 212 has low fees overall and a minimum deposit of $1.
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Account opening at Trading 212 takes 1 day.
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Trading 212 is a legit and trusted broker.
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Browse our toplist of the best brokers for beginners for some great alternatives.
When investing, your capital is at risk
How to determine if a broker is good for beginners?
There are many factors to consider when evaluating a broker's services, possibly too many to list. However, in general, beginner-friendly brokers should have:
- an excellent web and mobile trading platform
- low fees
- an easy account opening process
- low minimum deposit
- great educational tools
- good customer service
Let’s explore how Trading 212 compares to its peers when it comes to platforms, fees, account opening and education tools. We're rating each category on a scale from 1.0 to 5.0, where 1.0 is the lowest and 5.0 is the highest.
Web platform score
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4.4 stars | 4.4 stars | 4.4 stars |
---|---|---|---|
Mobile platform score
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4.9 stars | 4.9 stars | 4.4 stars |
Fees
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Low | Low | Low |
Account opening score
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5.0 stars | 5.0 stars | 5.0 stars |
Deposit and withdrawal score
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4.8 stars | 4.0 stars | 4.4 stars |
Education score
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4.0 stars | 5.0 stars | 5.0 stars |
Customer service score
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3.8 stars | 2.3 stars | 4.5 stars |
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When investing, your capital is at risk
Do Trading 212's platforms cater to beginners, and is assistance provided?
Navigating the complexities of trading can be challenging. Easy-to-use interfaces and comprehensive learning materials can simplify these complexities, especially for new investors like you. So, choose a broker known for its user-friendly platform and robust educational resources.
Web user-friendliness
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Great | Great | Great |
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Web two-step authentication
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Yes | Yes | No |
Mobile user-friendliness
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Great | Great | Great |
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2-step authentication
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Yes | Yes | No |
Biometric authentication
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Yes | Yes | Yes |
Educational resources, such as demo accounts and platform tutorial videos, can really help you get the hang of trading platforms and make smarter investment choices. Trading 212's educational resources have the following advantages: Demo account. Trading platform tutorial. Educational videos. However, they also have some disadvantages which could be improved: No webinars.
Similarly, effective customer support is also vital as it ensures that you receive timely assistance with account issues, trading problems, and general inquiries.
Trading 212's customer support is generally quite reliable and helpful. At Trading 212, customer support can be reached via live chat and email.
What are the fees like at Trading 212 and is there a minimum deposit?
Transaction costs at a brokerage, including commissions and spreads, can eat into investment returns, especially for active traders. Choosing a broker with low fees is crucial as it allows more of your money to stay invested and grow, enhancing overall profitability.
Think of broker fees like admission to an amusement park. Just as you pay to enter and enjoy rides, you have to pay flat fees or commission-based charges to access trading services. Like different amusements parks offering various experiences and prices, brokers offer varied fee structures tailored to specific types of traders or investment strategies. Ultimately, like weighing park costs against fun, investors consider broker fees relative to trading benefits.
What about deposit requirements? At Trading 212, the required minimum deposit is $1. This means that you have to put at least $1 in your broker account to be able to start trading.
Is that more than you're willing to commit at this point? See if you can start trading with less at other brokers.
Broker | Minimum deposit | Bank transfer |
---|---|---|
Trading 212 | $1 | |
eToro | $10 | |
XTB | $0 |
So what if you made a deposit but decide later that you want to switch brokers and invest your money elsewhere? No worries - you can always opt out and withdraw your funds.
How is the account opening experience at Trading 212?
Account opening at Trading 212 is fully online, meaning you can do it from the comfort of your chair. In fact, you don't even need a chair: you can simply do it on the go on your mobile phone.
Opening a brokerage account is always free of charge, but the time it takes differs from broker to broker. At some brokers, it's as quick as signing up for a new Gmail account. At others, it might take a couple of days as they run a background check on your data. At Trading 212, it usually takes 1 day to have your account up and running.
When investing, your capital is at risk
Is Trading 212 legit?
We hear more and more stories each day about clients who lost their money to scammers through unregulated services. BrokerChooser only features brokers that have top-tier financial regulators. As such, Trading 212 is a legit and trusted broker.
Top-tier regulators are regulatory or self-regulatory authorities that apply, oversee and enforce the strictest requirements and standards to ensure that brokers supervised by them do not engage in fraudulent activities. Oversight by a top-tier regulator is a good indicator that the broker adheres to the highest regulatory standards and practices. Trading 212 is regulated by FCA in the UK and ASIC in Australia.
If Trading 212 is not the right broker for you, go ahead and check out our top picks for Best Brokers for Beginners in 2024 for some alternatives.
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When investing, your capital is at risk
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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.