Trade 12 Review – is it scam or safe? explained by professional Forex trading experts the “ForexSQ” FX trading team.
Trade 12 Review – is it scam or safe?
Trade12 is a forex and CFD broker with three standard types of trading accounts: Beginner, Trader and Expert. There is also a VIP account which offers customizable trading conditions and a free demo account for those who wish to try risk free trading.
The tradeable instruments include forex, gold, silver and oil and futures on shares and indices.
The Company. Security of Funds
Trade12 is an offshore unregulated forex broker. It claims it “acts in full compliance with European and international legislation and regulation standards”, but is often featured in warnings of national regulators for operating in their respective jurisdictions without proper license. In 2016 alone there have been two warnings from New Zealand’s FMA, from Italy’s CONSOB and from CySEC, while Russia’s self-regulatory organization KROUFR blacklisted Trade 12 over client complaints.
Furthermore, Trade 12 is often accused by its clients of being a scam (on its facebook page) and discuss in forums at great lengths how they have defrauded them out of their money. Those two facts, we believe, are enough reasons to not deal with them at all and look for another, regulated, broker. There are plenty of those, regulated by UK’s FCA or the Australian regulator, for example.
Usually the honest and reputable forex brokers are regulated by a national or provincial financial markets watchdog, as is required by most countries’ legislation. The regulation provides better protection for clients and the company activities.
Trading platforms
Trade12 offers trading on the MetaTrader 4 (MT4) platform in all its versions – desktop, web and mobile applications.
MT4 is the usual choice for the majority of brokers and is well-liked by traders. The platform has many features, allows hedging and automated trading and has numerous technical analysis and charting tools. It has been around for more than a decade and is obviously still going strong, despite the intentions of its developer MetaQuotes Software to slowly phase it out in favor of its successor MetaTrader 5.
Methods of payment
Trade12 has a very extensive list of funding options. It accepts payments through bank transfers, credit and debit cards, Skrill, CashU, China UnionPay, Moneta.ru, Yandex Money, Paysafe Card, Ali Pay and WebMoney. One of the few payment options lacking is PayPal.
Trade 12 Review – is it scam or safe? Conclusion
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