12Trader started as a business idea for brokerage services by a bunch of trading experts. They focused primarily on forex, stocks, and contracts trading services while building up 12Trader. Since its foundation, this broker excels in providing transparent and honest services, guaranteeing that it puts the best interest of its clients first.
12Trader Security and Licenses
12Trader was established in the United Kingdom in 2013. It has offices everywhere in the world, but most prominently in SVG or Saint Vincent and the Grenadines. This broker operates under the regulatory standards set by the Cyprus Securities and Exchange Commission, as well as the Vanuatu Financial Services Commission. Moreover, 12Trader has a European license, allowing it to provide trading services within the EEA jurisdiction. Still, this broker has a controversial reputation since it has been at the receiving end of different negative reviews and criticisms in the past years. The main critique against 12Trader is that it lacks a good sense of innovativeness that is needed in the fast-paced trading industry.
Still, 12Trader has established the trust of its clients in favor of it, and many traders have praised it for its sophisticated set of features and services. Contrary to the fact that a European license is almost a sure-fire guarantee that a broker is reliable and safe, 12Trader has been accused of different trading mishaps and financial dishonesty. While there are no actual ways of proving or disproving these accusations, unless the broker is investigated, 12Trader must be given the benefit of the doubt. Still, any trader must know that checking the company background of a broker they want to trade with is an essential part of trading. Traders must also be aware of the many market risks that may inconvenience them while trading with any broker.
12Trader Platform Services
12Trader aims to provide the best services to its wide client base as a forex broker. Still, its aims fall short as it seems to have been behind its peers. Most brokers have been offering innovative solutions to a number of problems, but it seems like 12Trader can’t even fix the security issue that plagues its reputation.
SIRIX Trading Platform
12Trader has a main platform called SIRIX, which functions primarily as a social trading platform where users can perform swiftly executed trades. This platform has proper features such as an advanced charting set and over hundreds of indicators that aid in spotting market opportunities in daily trades. Moreover, this platform also has the ability to perform any strategy of high complexity, as well as a built-in live social trading where users can watch each other’s activities, therefore allowing them to copy trades.
12Trader Social Trading
This broker’s SIRIX platform is equipped with a social trading feature that serves as an avenue for interacting and sharing tips and information between traders. Here, a community of traders thrive to exchange what they know about trading, and in what ways they can help beginners. On this platform, users are also allowed to check and replicate the trades of others in hopes of earning profits. Basically, it is a community where traders help each other.
12Trader Trading Accounts
As a broker, 12Trader only offers up to three accounts to choose from: While the choices are slightly limited, this broker still ensures that its clients get quality services. Below are the specifications of each one:
- Micro: This account is made specifically for currencies trading, as well as CFDs. It is geared towards novice traders who are yet learning the ropes of the markets. It allows novices to make mistakes with minimal repercussions. The only requirement for this account is a $500 deposit.
- Silver: The second account is an expensive one, relatively. This one is geared towards professional traders who want to enjoy a variety of perks such as a full educational package and even the SIRIX mobile app. This second account is very high in the price range since it necessitates an initial deposit of $10,000.
- Gold: This broker’s most expensive account is equipped with the highest-grade features and services. The VIP tools and live support, as well as access to a financial advisor only portrays how expensive this account is. It is geared towards high-volume traders who can deposit as much as $25,000 before opening an account.
This broker has its fair share of controversies and criticisms in the past. IT has been plagued with negative reviews both from critics and clients, and its reputation is continually questioned. Still, this broker offers a decent range of services and features to offer in an extensive range of markets. It also encourages beginning traders to expand their knowledge and skills, and giving users the right avenues for profitable trading. While the many critiques against it have proven to be consistent in the past years, trading with 12Trader must be upon the investor’s discretion. Every broker presents its own risks and it is up to the trader to make a wise decision.