Trading 212 is a popular trading platform with a variety of tools for stock research and trade execution. You can invest in equities, exchange-traded funds (ETFs), foreign currency, and commodities with no commissions. However, Trading 212 isn't available in the United States and Canada and if you live in either of these countries, it is best to look for a similar trading platform that can serve as an alternative.
Trading 212 Alternatives: Top 4 Picks
In this article, we've put together a list of the top Trading 212 alternatives if you're seeking a trading platform with features similar to those offered by Trading 212 or if Trading 212 is missing a tool you need for trading.
Things to Note When Looking for Trading 212 Alternatives
There are a few things to look out for while looking for a Trading 212 alternative.
- Compatibility - You must choose a trading platform alternative to Trading 212 that has features and trading fees that are compatible with your trading needs and investment strategy.
- Fees - When looking for an alternative, you need to consider the fees that you may be paying. Trading 212 doesn't charge any commission fee so a good alternative will be one that also charges zero commission fee or a really small amount.
- Security - Security is an important feature to consider when looking for alternatives. You should always research each agent's security practices and policies. Always make sure that the security practices and policies of your broker meet the minimum standards required by regulators such as the Financial Conduct Authority (FCA).
Top 4 Trading 212 Alternatives
1. IG Broker
The IG Group is the largest CFD broker in the world. It offers a wide range of products and services, including FX and forex, equities, indices, and more.
The platform also has access to live market data. Users can trade on their PC or mobile devices. However, there's no need to install any software on your mobile device because all of IG's apps have integrated. This makes trading faster, easier, and safer than almost any other app out there today. Still, Trading 212 has a great app as well.
IG offers low-cost trading fees and has fee-free cryptocurrency withdrawal services. The inactivity fee is charged only after two years. However, the forex and stock CFD fees are on the high side.
XTB offers a wide range of trading conditions, which range from Forex CFDs to CFD and CFD futures markets. Exchanges are available in the U.S., Europe, and the UK, as well as in 108 countries worldwide.
It is relatively simple to open an account on the site and start trading immediately after completing the registration process. Deposit funds using Visa or MasterCard payment cards; alternatively, there are several options for a wire transfer from your bank account.
One downside to this broker is that it charges an inactivity fee.
eToro is a great alternative for Trading 212. The broker offers zero-commission stock trading. The account opening is swift and seamless. The platform has a lot of innovative features like social trading, and its cryptos platform.
There are some drawbacks, though. There is a $5 withdrawal fee, and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high if your funding currency is not USD.
The broker's mobile trading app is well suited for the following traders: People looking for a zero-commission stock trading platform; Multi-asset traders (i.e. those who want to trade various assets simultaneously); Newbies who want to get started with their first stock trade.
Capital.com offers a great account opening experience and a wide range of capital markets products: low forex CFD fees and commission-free real stocks, as well as high stock index CFD fees for Capital.com clients. To trade on Capital.com you will need to pay a minimum of $20 in deposit to open an account. Withdrawals are free of charge as long as there are no slippage penalties applied.
Compared to Trading 212, these brokers are all considered to be good alternatives for traders. They have compelling features and most users appear to be satisfied with their experience. Never forget to do your research and pick the option that suits you the best before transferring your assets.