Investing has been used by the upper class all across the world for many years. The wealthiest people used to make the largest percentage of the people who invest in the world’s investment market. However, thanks to technology and the Internet, there is a new generation of investors.
Thanks to online investment brokerage firms it is much easier for beginners and casual investors to get in on the action. One of those brokerage firms is called Trading 212, they are an online and mobile investment company that serves primarily European countries. They offer low or no-fee trading and fund transfers depending on where you live.
Setting up an account is easy as long as you qualify for an account. You will be expected to provide identification and tax information to prove your identity.
5 Things that You Should Know About Trading 212 Before Becoming a Member
- There are a couple of restricted countries – Trading 212 is primarily a European investment brokerage company. They do allow people from all over the world to set up an account and be a member. However, two countries are restricted from being able to sign up for an account; the United States and Canada. To prevent unauthorized people from trying to set up an account you go through a process that checks your identity. These checks include tax information and government-issued identifications.
- You can on choose from a list of acceptable currencies – The Trading 212 trading system allows you to select a base currency for you to use for your account. However, there is a small list of acceptable currencies. These include the following; CHF, CZK, EUR, GBP, NOK, PLN, RON, and SEK. Selecting your native currency or Euros will mean that you will likely be able to avoid losses due to currency conversions.
- Multiple ways to transfer funds (possible fees may apply) – Trading 212 makes it easy to transfer funds to and from your account. You use bank transfers directly from your bank account that you decided to associate with your account at the time you signed up. You can also use a credit card or bank card that you associate with your account. They also accept many of the most popular electronic wallets like Apple Pay, Google Pay, PayPal, and Skrill, just to name a few.Note: there is a small fee for transferring large amounts of money.
- Only two ways to trade with Trading 212 – The Trading 212 Investment system does not currently have a downloadable desktop application available. You have to either download the powerful mobile app or log in to the web portal. Either way after signing into your account you will have full access to all of your account information. You can track all of your trades and monitor your account balance in real-time. A powerful dashboard makes it easy to view all the details of your account.
- Tons of trading data and research available to all members – Research is a very important part of investing and Trading 212 understands that. They offer all of its member’s full access to its tons of research and trading data. This makes it much easier for its members to make better trades.
Pros and Cons
Pros of using Trading 212 for investing
- Signing up for an account is free
- Features a powerful mobile app and online web portal
- No cost withdrawals at any time
Cons for using Trading 212 for investing
- Does not allow US or Canadian residents to sign up for an account
- A limited number of base currencies available