Trade212 Review: Is this broker a scam or safe to trade with?
Choosing the right trading platform is a crucial step in your investment journey. With so many brokers out there, figuring out which one you can truly trust can be challenging. Our Trade212 review will get into the growing concerns regarding this broker, from regulatory warnings to those concerning real user experiences, and will help you determine if the early red flags mean you should not trust this broker.
About Trade212
Company Name – Trade212
Website – http://trade212.com/ is not functional
Address – NA
Regulatory Warning – Financial Conduct Authority (United Kingdom)
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
What is Trade212?
Trade212 presents as an online broker providing forex, CFDs, stocks, and numerous other instruments. It appears to be a solid choice as it claims to be regulated by the FCA in the UK.
However, we have noted their official website is down and the FCA has published a public warning with respect to Trade212. That isn’t just a red flag, but pretty much a deal breaker.
Real user experiences: What are people saying?
As we started to dig deeper into reviews via Trustpilot, Reddit, Quora, etc. the real picture started to emerge regarding Trade212, and we are not talking about minor complaints, but life-wasting problems experienced by traders who use Trade212.
Here are a few trends repeating:
- Withdrawals taking weeks or not coming
- Support teams ignoring the critical nature of concerns
- Accounts being locked because of expired card verification
- Misappropriated funds with no clear explanation or guidance from the broker
As one user wrote, “They told me to verify an expired card that I cannot trace, and now I can’t get any of my money, after days of going in circles.”
Another user said: “They stole over $3,000 after I requested a withdrawal. Support said they would help; then they went quiet.”
One user told us their father lost his whole life savings to hackers via Trade212, and there was no support or any resolution with these accounts.
Major Red Flags to Look for
If you are considering doing business with Trade212, here are a few factors to consider:
- Their official website is down
- There is an FCA warning against them
- Negative comments on multiple review aggregates
- Waiting and withdrawal issues
- Unclear information about where they operate
They claim to be regulated, however, many users were saying otherwise and when it involves money, actions speak louder than words.
What about their Trading Platform?
Trade212 does not operate on commonly used platforms such as MetaTrader 4 or 5. They utilize their own web-based trading system. It looks nice, but traders complain it doesn’t have key functionality and constraints on their trading. This can be frustrating for someone already familiar with trading.
Trade212 FAQs
Is Trade212 regulated?
They claim they are but the FCA has issued a warning. That should make anyone think twice.
Are people having problem withdrawing their money?
Yes – users are reporting serious issues with getting their money out.
Can beginners trade with Trade212 safely?
Unfortunately, no. Even experienced traders are fishing for a way to garner a profit which is definitely not beginner-friendly.
Is Trade212 a scam?
Based on all the evidence, Trade212 shows all the red flags of being a scam.
Final Thoughts: Can you Trust Trade212?
While Trade212 may have once had prestige as an industry name, there are too many warning signs to ignore.
From its non-existent website to being unable to access your money and terribly bad customer services; this isn’t a platform we would suggest to anyone.
From the Trade212 review and given the results offered to us, we would avoid and look for a broker, without the need for transparency.
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Disclaimer: This review is based on online reports and customer complaints. Always research carefully before investing with any broker.
