If you want to trade CFDs, you can do so with Trading 212. The platform allows you to open long and short positions and to use a variety of timeframes to study prices. It also offers a wide choice of chart types, including line, bar, area, Heikn-Ashi, and candlesticks, to allow you to examine price action from different angles. Financial information is provided for most tradeable assets, with data on financial ratios, market capitalisation, and a summary income statement.
Unlike some brokers, trading 212 accounts commissions when you buy and sell shares or ETFs. However, you do pay a spread, which is the difference between the bid and ask prices for a currency pair.
The company also doesn’t charge inactivity or custody fees, which is a big plus for many traders. It makes money from the “spreads” between the buy and sell prices for its CFD account, and from a 0.5% FX fee on its stock trading accounts when you trade in USD.
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When you first sign up with trading 212, you have to answer questions about your financial situation, employment status, and trading experience. You will also have to verify your identity by uploading a photo of yourself and providing proof of address. In some countries, you may have to submit additional documents. Once you’ve done this, you can select your preferred account type – Invest, CFD, or ISA. Choosing the right account is important, as it should align with your personal goals, risk appetite and trading experiences.