Trade12 Review 2024
United States not accepted.Trade12 Review
Trade12 is an unregulated forex broker offering multi-asset trading on the MT4 platform. This review explores the company’s services, including leverage, fees, trading conditions and security. Find out whether Trade12 is a trustworthy broker.
Trade12 Details
Established in 2008, Trade12 is an unlicensed broker headquartered in the Marshall Islands. The company operates internationally, from Ukraine to Israel. Its range of forex, commodities and futures are traded daily, across the globe.
The broker’s reputation, however, does raise trust concerns. Many online reviews cite withdrawal issues and security concerns.
MT4 Trading Platform
Trade12 offers the widely used MetaTrader 4 trading platform. Available on desktop, mobile and tablet devices, the MT4 platform offers a user-friendly interface, multi-lingual support and one-click trading. The easy-to-use platform caters to both novice and experienced traders and offers a range of customisable features, including:
- Built-in & customisable technical indicators
- Automated trading (EAs)
- Risk management tools
- Live price monitoring
- MetaTrader Market
- Advanced charting
- 9 timeframes
Trade12 also offers the MetaTrader WebTrader platform. The online solution enables users to execute trades instantly with no download required. The browser-based terminal offers many of the same features as the downloadable platform, including one-click order execution, social trading, plus live graphing and charting tools.
WebTrader is compatible with most major internet browsers.
Trade12 Products
Trade12 offers three primary asset classes:
- Forex – trade over 50 currency pairs including majors, minors and exotics, such as EUR/USD, EUR/GBP and USD/CHF
- CFDs – trade futures on commodities, shares and indices, including the Dow Jones and Microsoft
- Commodities – trade hard and soft commodities such as oil and precious metals
Whilst the broker offers a reasonable list of products, a greater breadth and depth of assets can be found at other providers.
Spreads & Fees
Spreads on major and minor currency pairs such as EUR/USD begin at 1.2 pips and for EUR/GBP, start at 1.5 pips. For commodities, spreads begin at 4.5 pips for gold and 4 pips for silver. Premium account holders benefit from more competitive, fixed spreads whilst floating spreads are available for Beginner and Trader account holders. Premium account holders also enjoy lower transactional fees.
Note, clients should be wary of hidden fees such as swap charges on overnight positions. We would recommend checking for any additional fees with the customer support team when you open an account.
Leverage
Leverage up to 1:400 is available with Trade12. Leverage is fixed across all account types. To change leverage levels, clients should contact the support team. Leverage should be used only with the experience to do so securely, as margin trading carries increased risk.
Mobile Apps
Trade12 offers clients the ability to trade anytime, anywhere via the MT4 mobile platform. The app is available for use on Android and iOS devices and is free to download. The app is synced with a trader’s desktop platform to facilitate seamless trading. Features include:
- Social trading
- Interactive charts
- Account management tools
- High-speed order execution
- Live streaming market prices
Payment Methods
Trade12 permits clients to make deposits, withdrawals and payments via multiple options:
- Bank wire transfer
- Credit/debit card – Visa & Mastercard
- E-wallets – Skrill, Moneybookers, Ali Pay and CashU
The minimum deposit is $250. Trade12 does not charge additional transaction fees. However, whilst deposits can be made easily, traders have reported issues when attempting to withdraw funds from the broker. This is a serious cause for concern and one of the reasons we wouldn’t recommend registering for a Trade12 account.
Demo Account
Trade12 does not offer a demo account. This is a real shame as having an opportunity to test a broker’s services prior to investing funds is something that many potential clients look for.
Trade12 Bonuses
At the time of writing, Trade12 does not offer any bonuses or promotional codes. The broker falls short of the typical promos and offers provided by its competitors.
Regulation
Trade12 is an unregulated broker. Its operations are not supervised by a regulatory body and therefore any capital invested may be at risk. Trade12.com also offers no insight into the legal standards it adheres to which does raise trust and safety concerns. As a result, we’d recommend using an alternative provider.
Additional Features
A handful of additional resources can be found at Trade12.com. The features are basic and many are not accessible until you have opened a live account:
- Economic calendar
- Education centre
- Market news
Accounts
Trade12 offers four account types; Beginner, Trader, Expert and VIP. All accounts offer daily analysis, 24-hour customer support and mobile trading. The benefits as you progress towards the premium accounts include free VPS hosting, free bank transfers and tighter, fixed spreads. Deposits start from $250.
To login into your Trade12 account, head to the broker’s homepage and select the client portal located in the top right-hand corner.
Benefits
Benefits of trading with Trade12 include:
- Multiple account levels
- Education centre
- MT4 platform
- Social trading
- Mobile app
Drawbacks
Downsides of opening a Trade12 account include:
- Unregulated
- No demo account
- US clients not accepted
- Cryptocurrency trading unavailable
Trading Hours
Forex trading is accessible 24 hours a day from 5:00 pm ET Sunday to 5:00 pm ET Friday. For more information, head to the ‘Market Trading Hours’ tab on the broker’s website or contact the customer support team.
Customer Support
Traders can speak to customer support 24/5 via:
- Email – support@trader12.com
- Phone – +18886834913
- Live chat – located in the bottom right-hand corner of the website
Trade12’s registered office is in the Marshall Islands.
Security
The broker states that it uses SSL bit technology, risk management tools and secure withdrawal payment options, however, minimal detail regarding security measures is provided. Also, as an unregulated broker, the safety of client funds cannot be guaranteed. Numerous reports online have raised scam concerns, and we too are worried about the legitimacy of operations.
Trade12 Verdict
Trade12 provides a very standard offering in regards to account types, rates, assets and trading conditions. It does offer the popular MT4 platform, but its additional resources are scarce and the unlicensed status should be a warning. We would advise traders to open an account with a more trustworthy broker.
Top 3 Alternatives to Trade12
Compare Trade12 with the top 3 similar brokers that accept traders from your location.
- IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Trade12 Comparison Table
| Trade12 | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| Rating | 1.3 | 4.4 | 4.3 | 4 |
| Markets | Forex, CFDs, commodities, futures | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | No | Yes | Yes | Yes |
| Minimum Deposit | $250 | $0 | $0 | $1 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | – | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | SVGFSA |
| Bonus | – | – | – | 100% Deposit Bonus |
| Education | No | Yes | Yes | No |
| Platforms | MT4 | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | MT4, MT5 |
| Leverage | 1:400 | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:1000 |
| Payment Methods | 7 | 6 | 6 | 10 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Review |
Interactive Brokers Review |
World Forex Review |
Compare Trading Instruments
Compare the markets and instruments offered by Trade12 and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| Trade12 | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | No | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | No | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | No |
| Options | No | Yes | Yes | No |
| ETFs | No | Yes | Yes | No |
| Bonds | No | Yes | Yes | No |
| Warrants | No | Yes | Yes | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
Trade12 vs Other Brokers
Compare Trade12 with any other broker by selecting the other broker below.
FAQ
Is Trade12 safe to use?
We would advise caution when dealing with this broker. The company has been identified as fraudulent and many clients have reported issues.
Is Trade12 regulated?
No – Trade12 is unregulated. Opening an account with Trade 12 carries a significant risk to the security of funds.
Is trading with Trade12 easy?
For the most part, yes. The Trade12 website and MT4 platform are easy to navigate and users can open an account in just three steps. However, traders have cited issues with withdrawing funds.
Is Trade12 a legal entity?
Trade12 is a legal entity but it is not regulated and there are multiple complaints online from customers.
What is the minimum deposit at Trade12?
$250 is required to open a Beginner account. $10,000 is required to open the Trader account and $50,000 is needed to open the Expert account. The VIP account has no fixed minimum deposit and can be negotiated with the customer support team.
Customer Reviews
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