Trading 212 - A Step-by-Step Guide
Trading 212 is a fintech trading platform based in the UK which was launched in 2004 by Borislav Nedialkov. It makes digital trading available to all investors with no commission trading and customer-friendly platforms. Customers can easily purchase and trade forex, stocks, ETFs, and more.
It is the first brokerage company in the financial industry to deliver 0% commission stock trading in Europe and the UK. This has allowed millions of dealers to access the stock markets on a price-friendly basis. The bartering platform Trading 212 is certified and regulated by the UK's FCA (Financial Conduct Authority) and the Financial Supervision Commission in Bulgaria. Also, customer funds are kept in separate accounts and are covered up to £85,000 by the Financial Services Compensation Scheme (FSCS).
The company's mobile trading application has had more than 15 million downloads. It has been rated by around 180 thousand customers, thus making it one of the most famous trading apps. The trading platform offers three different account types for its investors to trade. The CFD account authorizes to deal on all major markets, comprising over 2,500 instruments such as forex, stocks, commodities, and indices.
The other two accounts, the Invest and ISA accounts, deliver access to more than 10,000 real stocks and ETFs with instant execution on the market's major deals, including the London Stock Exchange, the NYSE, NASDAQ, Deutsche Borse Xetra, Euronext Amsterdam, SIX Swiss Exchange, Bolsa de Madrid.
How to Start Trading with Trading 212
Due to the tremendous market demand, the platform has intercepted account opening as they endeavor to extend its services. For now, users can join a waiting list by entering their email addresses, and Trading 212 will inform them when they can open their accounts. Once the platform is live again, you can use the following steps mentioned below to start trading.
Step 1: Open a Live Trading Account
To begin with, head over to the Trading 212 website and click on the open account button.
The platform then requires you to enter your personal details, including where you live, your name, phone number, date of birth, and national insurance number. Then they ask you to select the account type that fits your trading plans and requirements and the account base currency.
To finish the initial registration phase, you need to click on the I Confirm button at the base of the window.
Step 2: Verification
Legal KYC guidelines require client verification to combat financial scams and identity heists.
You are directed to upload copies of your passport or driver’s license and the latest utility bill or bank statement to confirm your identity and address by the Trading 212 document verification team.
Step 3: Deposit Funds
To deposit funds, click on the account menu at the base of the mobile trading app, choose Deposit Funds, and select your payment mode: bank transfer, credit/debit card, or e-payment. Then select the amount based on your payment mode.
Step 4: Start Trading Financial Instruments
You can purchase and trade assets with ease of the button on both the web and mobile trading applications.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.