Economy
Trading 212 Review 2023 | Comprehensive Evaluation By Traders Union
Trading 212 is a London-based brokerage firm established in 2006, specializing in foreign exchange and stock market investments. This broker is supervised by the UK Financial Conduct Authority (FCA) and CySEC in Europe.
A comprehensive Trading 212 review conducted by Traders Union would highlight their compliance with these regulatory bodies. However, there’s no available information about any awards they may have garnered.
Trading 212: pros and cons
Traders Union delivers an unbiased analysis of Trading 212, shedding light on both the benefits and drawbacks associated with this broker.
Pros:
- The minimal deposit requirement is low.
- An extensive array of trading assets is available.
- The website interface supports multiple languages.
Cons:
- Absence of investment programs.
- Limited options for contacting customer support.
- The firm does not organize competitions for traders.
Expert review of Trading 212
TU experts have observed that Trading 212 has maintained a consistent partnership with Traders Union for over a year, proving its reliability and commitment to fulfilling its obligations. Key points of their collaboration and offerings include:
- Traders have the option of two account types. One enables investment in stocks, while the other promotes active trading. Both provide a demo version to familiarize traders with trading conditions prior to live trading.
- An ISA account option is available specifically for UK clients.
- Trading 212 welcomes traders and investors of all experience levels but clearly communicates the heightened risks associated with trading at registration.
- Trading 212 has received mixed reviews over its operating period. Its support team, however, is recognized for offering qualified assistance to resolve issues.
- The broker’s website is intuitive and informative, without being overwhelming, offering insights into trading conditions and extra opportunities.
Trading 212 affiliate program and trading conditions
Traders Union notes Trading 212’s referral scheme, where both referrer and friend can earn a free share up to €100/GBP, subject to conditions.
Here are the key conditions for users:
- Trading 212’s minimum deposit level is highly accessible, standing at 1 GBP/EUR for their ‘Invest’ accounts and 10 GBP/EUR for ‘CFD’ accounts.
- Leverage varies depending on the client’s classification, with leverage of 1:30 available for retail clients and a much higher leverage of 1:500 for Pro clients.
- The broker offers around-the-clock support, ensuring that assistance is available 24/7.
Trading 212 strives to offer optimal conditions for both investing and trading. It’s always advisable to consult the detailed information provided in your personal account for each specific category.
Comparison of Trading 212 with other Brokers
TU offers a detailed comparative analysis of Trading 212 alongside other brokers, assisting traders in making well-informed choices.
- RoboForex: While both offer a wide range of assets, Trading 212 stands out with its low minimum deposit compared to RoboForex’s higher requirement.
- Exness: Exness offers more deposit and withdrawal methods, but Trading 212’s unique tiered referral program adds value for its clients.
- IC Markets: IC Markets has a wider selection of platforms. However, Trading 212’s intuitive and informative website provides a simpler user experience.
- FxPro: Both provide extensive trading tools, but FxPro offers more leverage options. Trading 212, though, has a lower minimum deposit threshold.
- VantageFX: VantageFX offers a more comprehensive educational section. Trading 212 differentiates itself with a tiered referral program and 24/7 customer support.
After analyzing several brokers, one may also consider Forex.com. Forex.com is a highly regulated platform with a strong reputation in the trading community, which can lead traders to ask, “Is Forex.com legit?” The answer is yes; it is a legitimate, trustworthy broker offering diverse trading options and transparent operations, thus being a suitable choice for various traders.
Conclusion
In conclusion, Trading 212, as reviewed by Traders Union, is a reliable, regulated broker that appeals to different trader levels. Despite some limitations, its benefits, such as low minimum deposit, diverse trading assets, and an engaging referral program, provide value to its users. Traders, however, should consider their individual needs and investment goals while comparing Trading 212 with other brokers to make an informed decision. For more info, visit the Traders Union Website.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, August 5, as the market witnessed weaker trading activity with only two deals executed.
In the midweek session, the volume of securities exchanged by investors dropped 99.9 per cent to 802 units from the 1.6 million units recorded on Tuesday. The value of securities further decreased by 99.6 per cent to N208,240 from the preceding session’s N47.6 million, and the number of deals significantly went down by 93.9 per cent to two deals from the 33 deals recorded a day earlier.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 76.9 million units transacted for N5.5 billion.
GNI Plc was also the most active stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.
There were no price gainers or losers yesterday.
As a result, the market capitalisation stood unmoving at N2.739 trillion, while the NASD Security Index (NSI) remained unchanged at 4,563.96 points.
By Adedapo Adesanya
The Naira slid against the US Dollar by N2.28 or 0.17 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Wednesday, August 5, to N1,363.85/$1 from N1,362.55/$1.
The local currency also declined against the Pound Sterling in the official market during the session by N5.97 to close at N1,837.38/£1 compared with Tuesday’s closing rate of N1,831.41/£1, and against the Euro, it crashed by N6.54 to quote at N1,575.25/€1 versus the preceding session’s N1,568.71/€1.
But at the black market, the Nigerian Naira traded flat against the greenback yesterday at N1,400/$1, and also remained unchanged at the GTBank FX desk at N1,373/$1.
The Central Bank of Nigeria (CBN) says rates have narrowed to below two per cent, while the country’s external reserves have risen above $52.5 billion, reflecting the impact of its ongoing monetary and foreign exchange reforms.
CBN Governor Yemi Cardoso, represented by the Acting Director of Corporate Communications and Investor Relations, Mrs Hakama Sidi-Ali, disclosed this on Tuesday during the CBN Fair in Gombe. He noted that reforms introduced since 2023 had significantly reduced the disparity between the official FX market and the parallel market.
“The Naira continues to strengthen, with the spread between official and Bureau de Change rates now below two per cent,” he said, adding that reserves at $52.5 billion were supported by sustained inflows and renewed investor confidence in the economy.
Interbank FX transactions slid as weaker market activities dropped total Dollar volume exchanged to $75.35 million, a 51.8 per cent decline from $156.23 million in turnover quoted at the previous close.
The deals at the NFEM window also fell as data from the central bank put Wednesday’s quote at 82 from 139.
In the cryptocurrency market, major were down as global risk sentiment softened as a key world equity index slipped and chipmakers fell.
The MSCI All Country World Index snapped a five-day run to fall 0.2 per cent as chipmakers retreated on both sides of the Pacific. South Korea’s Kospi, a bellwether for the AI trade, dropped 4.4 per cent.
Ripple (XRP) depleted by 1.7 per cent to $1.05, Binance Coin (BNB) decreased by 1.0 per cent to $594.87, Cardano (ADA) depreciated by 0.9 per cent to $0.1884, TRON (TRX) shrank by 0.2 per cent to $0.3261, Solana (SOL) crumbled by 0.1 per cent to $74.00, and Dogecoin (DOGE) went down by 0.1 per cent to $0.0697.
On the flip side, Ethereum (ETH) gained 2.3 per cent to trade at $1,911.41, and Bitcoin (BTC) rose by 0.8 per cent to $64,759.28, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Dipo Olowookere
The domestic stock exchange rebounded by 0.05 per cent on Wednesday on the back of renewed bargain-hunting by investors, though the level of activity waned.
After bleeding for a few days, the Nigerian Exchange (NGX) Limited heaved a sigh of relief yesterday, as the All-Share Index (ASI) gained 109.41 points to close at 244,912.24 points compared with the previous day’s 244,802.83 points, and the market capitalisation garnered N71 billion to settle at N158.087 trillion versus Tuesday’s N158.016 trillion.
Business Post reports that despite the rebound recorded by Customs Street at midweek, the market breadth index remained negative, as there were 20 price advancers and 29 price decliners, implying bearish investor sentiment.
Linkage Assurance appreciated by 9.94 per cent to N1.77, AVA Capital rose by 9.55 per cent to N10.90, Fortis Global Insurance advanced by 7.69 per cent to N2.80, McNichols gained 7.34 per cent to finish at N5.85, and Coronation Insurance surged by 5.51 per cent to N2.49.
Conversely, Honeywell Flour depreciated by 9.94 per cent to N16.30, PZ Cussons gave up 9.94 per cent to trade at N74.75, Zichis crashed by 9.74 per cent to N20.76, Learn Africa slipped by 9.62 per cent to N9.40, and Neimeth tumbled by 8.33 per cent to N8.25.
The busiest equity was FCMB, with a turnover of 369.2 million units valued at N4.1 billion. Chams transacted 46.7 million units worth N201.8 million, First Holdco transacted 43.5 million units for N5.7 billion, Access Holdings sold 29.8 million units worth N778.0 million, and Linkage Assurance exchanged 19.6 million units valued at N33.5 million.
At the close of transactions, market participants bought and sold 824.1 million units worth N25.5 billion in 48,114 deals, in contrast to the 1.6 billion units sold for N28.7 billion in 54,160 deals a day earlier, showing a shortfall in the trading volume, value, and number of deals by 48.49 per cent, 11.15 per cent, and 11.16 per cent, respectively.
