Trade12 is a global brokerage brand. The company is headed by a team with decades of experience in the field of Forex. Trade12 operates in compliance with the standards of financial laws and states that they take the security of funds very seriously. The company’s opening statement on the site gives out a good first impression. We will be using this review to look into the services offered by the DominicanRepublic based broker so we can see how they compare to the competition and so you can decide if they are a broker you would want to use for your trading needs.
Trade12 offers its clients 4 different account types, each one having its own requirements to open and offering different trading conditions, we have briefly outlined them below.
Beginner Account: This account requires a minimum deposit of $250, it comes with spreads starting from 1.2 pips, and trade sizes start as low as 0.01 lots. It uses MetaTrader 4 as its trading platform and the spreads mentioned are floating. The account also comes with daily analysis, 24-hour support, access to an account manager, and mobile trading.
Trader Account: This account requires a minimum deposit of $10,000, it comes with spreads starting from 1 pip, and trade sizes start as low as 0.01 lots. It uses MetaTrader 4 as its trading platform and the spreads mentioned are floating. The account also comes with daily analysis, 24-hour support, access to an account manager, and mobile trading, it also has access to ECN broker services.
Expert Account: This account requires a minimum deposit of $50,000, it comes with spreads starting from 0.8 pips, and trade sizes start as low as 0.01 lots. It uses MetaTrader 4 as its trading platform and the spreads mentioned are fixed. The account also comes with daily analysis, 24-hour support, access to an account manager, and mobile trading, it also has access to ECN broker services and free bank wire transfers.
VIP Account: This account requires you to contact an account manager to open it, it comes with spreads that you need to decide when opening up the account, and trade sizes start as low as 0.01 lots. It uses MetaTrader 4 as its trading platform and the spreads mentioned are fixed. The account also comes with daily analysis, 24-hour support, access to an account manager, and mobile trading, it also has access to ECN broker services, free bank wire transfers, and also a free VPS service.
Trade12 uses MetaTrader 4 as its trading platform, it offers a whole host of available features such as its user-friendly interface, over 250 instruments available to trade including forex, energy, commodities, indices, and futures. It allows for one-click trading, offers an extensive pre-packaged technical indicator suite, and multi-lingual support. MT4 is also usable as a desktop download, mobile application, or web trader so you are able to access it and your trades wherever you are in the world (as long as there is the internet of course).
Leverage with Trade12 can go as high as 1:400, we are not sure if there is a difference between the accounts but that is the maximum stated by them. Leverage can be chosen when opening up an account and can be changed by contacting the customer service team with your request.
Trade sizes on all accounts start from 0.01 lots, they then go up in increments of 0.01 lots so the next trade will be 0.02 lots and then 0.03 lots. We did not see any information regarding what the maximum trade size is or how many trades you can have open at any one time.
As far as we know there are no added commissions on any of the accounts so they use a spread-based system that we will look at in a later section of this review. There are however swap fees, these are charges that are charged for holding trades overnight, they can be both positive or negative and can be viewed within the MetaTrader 4 trading platform.
The assets at Trade12 have been broken down into a number of different categories, we will outline them for you below along with any instruments within each category of assets.
Forex: EURUSD, USDJPY, GBPUSD, EURJPY, AUDUSD, USDCHF, EURCHF, EURGBP, USDCAD, NZDUSD, AUDJPY, CHFJPY, GBPCHF, USDHKD, CADJPY, GBPJPY, NZDJPY, CADCHF, EURAUD, USDSGD, AUDCAD.
Metals: Gold and Silver.
Commodities: Cocoa, Cotton #2, Feeder Cattle, Heating Oil, Lean Hogs, Live Cattle, Oats, Frozen Orange Juice, Palladium, Platinum, RBOB Gasoline, Rough Rice, Soy Beans, Aluminum, Copper, Lead, Nickel.
Futures: Brent Oil, WTI Oil, Natural Gas, Coffee, Sugar #11, FTSE 100, Dow Jones 30, Nasdaq,m S&P 500, Corn, Wheat, DAX 30, CAC 40.
Equities: There are hundreds of equities available from the United States, Europe, and Asia.
Each account type has a different starting or style of spread. The Beginner account has spreads starting from 1.2 pips while the Trader account has spread starting from 1 pip, the spread on these accounts is variable or floating which means they move with the markets, when there is added volatility they will often be seen higher.
The Expert account has spread starting from 0.8 pips, these spreads are fixed which means they will not change, it doesn’t matter what is going on in the markets, they will always remain the same. The VIP account doesn’t have a set spread as this needs to be decided when opening up the account, it also uses a fixed spread though. Different instruments will also have different starting spreads so while on the beginner account, one instrument may start at 1.2 pips, another may be starting at 2 pips or more.
The minimum amount required to open up an account is $250 which gets you access to the Beginner account, should you wish to use a higher tier account you will need to deposit at least $10,000.
Deposit Methods & Costs
There are a number of different methods available when depositing into Trade12, they are Visa/MasterCard, Bank Wire Transfer, Skrill, CashU, China UnionPay, Moneta, Yandex Money, Paysafecard, Ali Pay, and WebMoney.
The good news is that there are no added fees from Trade12, however, you should always check with your own bank or processor to see if they add any transaction fees of their own.
Withdrawal Methods & Costs
The same methods are available to withdraw with, again these are Visa / MasterCard, Bank Wire Transfer, Skrill, CashU, China UnionPay, Moneta, Yandex Money, Paysafecard, AliPay, and WebMoney.
Just like with the deposits, there are no added fees when withdrawing but be sure to check with your own processor or bank to see if they charge any incoming transfer or processing fees.
Withdrawal Processing & Wait Time
We didn’t notice any information about withdrawal times, however, we would expect them to process withdrawals within 48 hours and then the processing of the request will depend on the method used but a withdrawal request should be fully processed between 1 to 5 days from the request being made.
Bonuses & Promotions
There doesn’t appear to be any active promotions or bonuses at the tie that we were writing this review. This doesn’t mean that there won’t ever be any, so if you are interested in taking part in promotions, you should contact the customer service team to see if there are any coming up.
Educational & Trading Tools
There are a few different educational tools available. The first is an economic calendar that details upcoming news events as well as information on the markets that they could affect. There are also some market reports that detail past events and there is an education center that provides guides on what trading is and how to use things like MT4. There is also a tool called Autochartist available to use.
The customer service team is available Monday to Friday between 7 am and 10 pm GMT. You can use the online submission form, simply fill it in and you should then get a reply via email. They can also use the email address provided or the live chat feature. There is also a phone number available for the main support as well as different international lines in London, Zurich, Dublin, Sydney, Singapore, Kuala Lumpur, Italy, Tokyo, Canada, Barcelona, Madrid, Moscow, Kyiv, Kazakstan, and Berlin.
- Email: email@example.com
- Phone: +18886834913
Demo accounts are a way for people to test out new strategies or trading conditions without having to risk any of their own capital. It is a shame to see them not advertised on the site. This is something that Trade12 needs to get added to their service, you can open one from within MetaTrader 4 but the trading conditions will be unknown.
The following statement is present on the site, if you are still not sure of your eligibility we would recommend contacting the customer service team to find out prior to opening up an account.
“Please note Trade12 does not service the USA, France, and Belgium entities or residents of any kind. While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit Trade12 from opening accounts originated from the following restricted and/or OFAC sanctioned countries: Afghanistan, Botswana, Cote d’Ivoire (Ivory Coast), Cuba, Cyprus, Egypt, Gambia, Ghana, Guinea Bissau, Guinea Conakry, Iraq, Iran, Kyrgyzstan, Lesotho, Liberia, Libya Mali, Niger, North Korea, Senegal, Sierra Leone, Somalia, Syria, Tajikistan, Togo, Turkmenistan, The Democratic Republic of Congo The former Liberian Regime of Charles Taylor, Uzbekistan, Yemen, and Zimbabwe.”
Trade12 offers a variety of different accounts each with its own trading conditions, there is a choice of both floating and fixed spreads as well as different starting spreads. The costing of the accounts is reasonable with the spreads below 2 pips and no added commission. There are also plenty of ways to deposit and withdraw with no added fees. They also offer Autochartist which is a helpful trading tool.
You now have the information to decide if they are the right broker for you or if you would prefer to look elsewhere, we have plenty of other reviews to help you find the broker that is right for you.