12Trader is a web-based and mobile-based online broker that offers forex, CFDs, stocks, and cryptocurrencies. The benefits and drawbacks of 12Trader, including their sample account, free daily signals, and social trading, are discussed in this review. We’ll also look at deposit and withdrawal alternatives so traders can make safe and educated decisions.
12Trader was created in the United Kingdom in 2013 and has offices all over the world. 12Trader, founded by a group of financial specialists, provides personal advisers and free market research in addition to trading in a wide range of stocks, commodities, indices, and cryptocurrencies.
SIRIX trading platform
SIRIX is a web-based social trading platform used by 12Trader. Traders may use SIRIX to swiftly execute transactions from any computer without having to download any software. SIRIX has a sophisticated charting suite as well as many indicators. You may learn from and mimic other traders via the built-in social trading stream.
Assets and Markets
12Trader has a large number of marketplaces and traded financial instruments to choose from. Not only can you trade 41 currency pairings, but you can also trade CFDs and cryptocurrencies like Bitcoin, Ripple, and Litecoin.
Spreads and commissions
The spread is how 12Trader generates money. The Gold account’s minimum spreads are comparable to those offered by other brokers, for example, 0.6 pips on the EUR/USD pair. Spreads are less competitive for Silver and Micro account holders. In terms of trading commissions, however, 12Trader is in a fortunate position due to the lack of commission on any trades.
All account categories at 12Trader have a basic rate of 1: 200 leverage. Members of the Silver and Gold accounts may get up to 1: 300 and 1: 400, which is more than many other brokers. While leverage can increase possible earnings, it also increases the chance of loss and should be handled with prudence.
You may use the 12Trader app to trade on the move if you have a silver or gold account. On a fully functional platform, the mobile app, which is accessible on Android (APK) and Apple (iOS) smartphones, provides real-time charting, access to trade history, and fast execution. Traders may use their phone or tablet to open and close bets, manage their portfolio, and check live rates.
It’s straightforward and secure to deposit and withdraw money from 12Trader. They accept a number of debit and credit cards, including Visa and Mastercard, as well as PayPal, Skrill, and bank transfers to fund their accounts. Because each additional payment method requires 12Trader to fulfil many security requirements imposed by the payment firm, a big range of payment methods is a positive indicator of the safety and security of a trader’s money.
The minimum deposit varies every account, but it often begins at $ 500. There are no payment costs.
12Trader has a free demo account, which is a wonderful way to learn about a broker and day trading. A demo account allows you to understand the platform and trading methods before creating an actual account. It runs on the same platform and uses the same login page, but it uses simulated money and markets.
Deals and promotions
At the time of writing, there are no special deals or promotions. Users, on the other hand, have access to an instructional centre that includes webinars and training videos for both seasoned and beginner traders. For silver and gold account members, 12Trader additionally offers free signals, daily and weekly market analysis, an e-book, and a credit card.
Because day trading involves putting your money at risk, finding a broker that is safe and reliable is critical. 12Trader is regulated by the Vanuatu Financial Services Commission (VFSC) and the Cyprus Securities and Exchange Commission, despite its London headquarters (CySEC). Regardless, there have been some poor customer reviews, so proceed with care while registering for a new account.
12Trader has a number of extra tools to help with trading and analysing. A training programme is available to help new traders understand the fundamentals of Forex and CFD trading. The course is an excellent opportunity to learn more about trading terms, dangers, and investing methods. A software with a full discussion of advanced tactics and market analysis is available for experienced traders. A calendar for the economy is also provided by 12Trader.
12Trader account types
12Trader offers three real money account options:
- Micro is the simplest account type, with a minimum deposit of $ 500, designed to give new and inexperienced traders quick access to Forex and CFD trading.
- Silver – For a minimum deposit of $ 10,000, Silver provides a credit card, access to a full-fledged education centre, extra tools, and a mobile platform.
- Gold. Gold accounts, which need a minimum deposit of $ 25,000, offer enhanced customer service, guidance, and more competitive spreads.
Good reasons for choosing 12Trader include:
- Social Trading – The SIRIX platform’s social trading features are widely regarded as simple to use and successful, allowing for both copy trading and social engagement amongst traders.
- Customer Service – Provides live chat with a personal account manager at all account levels, as well as email, phone, and social media.
- Leverage. Users can trade with a ratio of up to 1: 400 thanks to the high leverage.
Unfortunately, 12Trader falls short in several areas:
- Many skilled traders employ automatic trading, which 12Trader regrettably lacks.
- Reports – There were a number of unfavourable customer reviews citing issues with profit withdrawal.
- The $ 500 minimum deposit is rather large, making it prohibitively expensive for new traders.