12Trader Review

Review

12 Trader, founded in 2013, is a Forex and CFD broker headquartered in London, UK, but regulated in Vanuatu. They are currently applying for regulation in Cyprus under CySec. They provide a trading platform that offers traders a wide range of assets for trading in indices, commodities and Forex currency pairs across both major and minor financial markets.  

Accounts

There are three different account types to choose from at 12 Trader. The Micro account can be opened with a deposit of as little as $50, but deposits must be made in U.S> Dollars. This account offers only the Sirix Web Trader Platform, while the other account types may be used with 12 Trader’s mobile trading platform on smartphones. The Micro account offers maximum leverage of 200:1, while the other account types offer considerably higher leverage capped at 400:1. The Silver account requires a minimum deposit of $10,000 or its Euro equivalent, while the Gold account requires a minimum deposit of $25,000 or its Euro equivalent.

The fee model of 12 Trader is spreads only, there no commissions.

A demo account is available, as is typical with nearly all spot Forex brokers.

Islamic accounts and managed account are also offered.

A wide range of Forex currency pairs, commodities, and CFDs may be traded with 12 Trader.

 

Features

Trading can be done 24/5 on the Web or via mobile devices using the 12 Trader app if you open a Silver or Gold account.

The trader platform offered is the Sirix Web Trader, a well-known platform used widely, by many brokers. It includes a social trading element.

 

Education

12 Trader’s educational offering consists of some basic, static textual information available on the site, which explains the rudiments of the Forex market. The 12 Trader website claims that a range of educational Forex courses are offered to traders, but the courses do not seem to be available within the website. The directory also offers a pips calculator and Forex glossary, but at the time of writing they were not operational.

 

Bonuses and Promotions

At the time of writing, no bonuses and promotions are offered, but 12 Trader claims that account holders are offered free signals, access to an educations center which includes video tutorials suitable for both beginners and professionals, and other trading tools and resources including an e-book, daily and weekly market analysis, and an economic calendar. However, none of these features are plainly visible on their website, which is concerning.

 

Deposits/Withdrawals

Depositing funds into a 12 Trader account is an easy and secure process. Funding can be done using a range of credit and debit cards, as well as Skrill. Withdrawals can be made through exactly the same methods.

Deposits and withdrawals are both subject to a maximum of $10,000 per day. Withdrawals must be made in minimum amounts of $500.

There is no limit on the amount of deposit sent as a wire transfer and $10,000 is required for Western Union.

Deposits and withdrawals to Micro accounts must be made in U.S. Dollar, while for Silver and Gold accounts they can also be made in Euros.

 

Customer Support

Customer support is based in London, United Kingdom, and is available in both the English and Arabic languages. Traders can contact a 12 Trader representative by telephone during business hours and can use email anytime of the day. Chat is also available as a communication channel, as is email.

 

Conclusion

12 Trader seems to have a fairly well-rounded offering for traders looking to trade CFDs as well as Forex currency pairs. However, their seeming lack of real website content coupled with their lack of regulation anywhere outside Vanuatu are two factors that deserve thoughtful consideration from anyone considering opening a real money account with them. 

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Features

12 Trader has many attractive features including the website itself which uses colorful snapshots and easy access to information. The nicest feature of this broker is its wide choice of trading accounts and its range of CFDs which can be traded along with the more usual and typical Forex currency pairs.

  

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Platforms

 

Sirix Web Trader

12Trader offers the advanced web based SIRIX trading platform. SIRIX is becoming something of an industry standard and is offered by a wide range of Forex brokers. The platform is entirely web-based, requiring no download or software installation. The platform has a built-in, sophisticated charting package including the most popular technical indicators and one-click trading.

Sirix also includes an innovative social trading element, where within the actual platform itself you can see what other traders are buying and selling, giving traders the chance to learn from other traders and share in real time as they trade.

 

Mobile

The 12 Trader mobile platform consists of apps that are specially designed for iOS and Android powered phones and tablets. They enable traders to manage their trading portfolio and also access live rates, open and close positions, view charts, and many more.

The mobile app offers the following features:  A full-function trade platform, real time charts, instant execution of trades, instant access to trading history and is easy to operate.

A single account can be opened for both the Web platform and the mobile application.

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User Reviews

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