12 Trader Review
12 Trader is an online forex and CFD broker set up by a team of financial experts in order to provide competitive trading conditions and a reliable trading environment to traders across the globe. The broker provides trading tools including daily signals, market analysis and social trading. However, the broker is not regulated and have a high minimum deposit requirement.
12 Trader Review, Pros & Cons
- Trading signal service
- Social trading available
- Account management services
- Trading on proprietary platforms available on desktop, web & mobile
- Educational resources are available
- Multiple account funding options
- Unregulated broker
- High minimum deposit
- No services to residents of USA
- Not the tightest spreads
- Limited trading instruments
In this detailed 12 Trader review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
12 Trader Overview
12 Trader is a forex broker set up in 2013 with the key principles of credibility and transparency. The broker offers multiple trading instruments on its proprietary trading platforms available on the web, desktop and mobile devices. The brand is owned and operated by ‘Safe Side Trading limited’; a company based in Saint Vincent and the Grenadines that has an office in London, United Kingdom.
12 Trader provides various services and tools for the online trading of forex, commodities, indices and cryptocurrencies. They offer multiple deposit options and various account types to accommodate different types of traders.
The broker provides educational resources through monthly webinars and personalized training sessions which are handled by its professional analysts. They also provide account management services, social trading and a trading signals service.
12 Trader have won awards for their brokerage services including:
- 2014 Best forex broker by Bloomberg Television.
- 2015 Best FX broker by Reuters.
- 2016 Best signals provider by the New York Times.
12 Trader Regulation
There is no information about 12 Trader being regulated by any financial body. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
12 Trader Countries
Residents and citizens of the United States of America are not eligible for 12 Trader services. Some 12 Trader broker features and products mentioned within this 12 Trader review may not be available to traders from specific countries due to legal restrictions.
12 Trader Platforms
12 Trader Web Platform
12 Trader offers its own proprietary trading platform that is web based. As a result, no downloads or installations are required.
Here are some of the features of the platform:
- The quote displays the ‘bid’ and ‘ask’ prices of all the available trading instruments in real-time. It can be customized, using favourites, to display only assets of interest.
- Displays 4 chart styles; area, line, bars and candles in real time.
- Up to 4 charts can be displayed simultaneously.
- Charts can be displayed on up to 10 timeframes from 5 seconds to 1 week.
- It comes with about 42 technical indicators including the popular ones like Moving average, MACD, Bollinger bands, etc
- Multiple order types including 4 pending orders and risk management tools.
- Platform is available in 3 languages: English, German and Arabic.
- Integrates account management features like balance and deposit options.
- It has order management features including order history.
12 Trader Terminal
This is the desktop version of the proprietary 12 Trader platform. It is developed for downloads and installation on Windows PC. The terminal has similar features with the web based platform.
Here are some of the 12 Trader desktop platform features.
- It is user friendly and has customizable interface, windows and layout.
- The ‘Quotes’ window shows all the tradable assets along with its ‘bid’ and ‘ask’ prices in real-time. It also shows the live spreads.
- It has 3 chart styles displayable on 10 timeframes from 5 seconds to 1 week.
- The tabs show open positions, deposits, executed orders, indicators, etc.
- It is preloaded with 50 technical indicators.
12Trader Mobile Apps
The 12 Trader mobile platform supports mobile trading via Android and iOS apps. The mobile app integrates seamlessly with accounts operated via the web or desktop terminal. The mobile apps are developed for iOS and Android devices and can be downloaded from the respective app stores. The app has similar features with the other platforms. It supports live quotes, charts, live trading and order management. The mobile trading app is useful for those who need to trade and access their account whilst on the go.
12 Trader Trading Tools
Clients have access to trading signals on different trading instruments. These are provided by 12 Trader’s in house trading experts and analysts. These signals provided by experienced hands are available to subscribed clients at no extra cost. There are no guarantees on the performance of these signals and you should have a clear understanding of the significant risks involved with trading online.
12 Trader provides its clients with daily market analysis through it in-house experts and analysts. The broker provides information on what moved the markets and what might be expected the next trading day. It is provided along with the trading signals service so clients have an informed view on happenings in the various financial markets.
12 Trader avail its clients or investors with the opportunity to follow and copy the trades of other expert traders through social trading. Investors are given access to detailed trading statistics and historical analysis of the performance of expert traders. This is what they study before settling for a trader to copy at a performance fee. Clients can also adjust certain parameters to suit their preferences like setting the risk levels using stop loss or take profit. They can also choose to allocate all or a portion of their funds to copying the trader and have the ability to stop copying the trades if they are not satisfied with the results. Investors can also connect with other investors socially in form of sharing, comments, likes, etc. There are no guarantees on the performance of these social trading signals and you should have a clear understanding of the significant risks involved with trading online.
For clients who do not have enough trading experience or do not have the time to actively trade, there is an account management service available. 12 Trader will link the client up with experienced traders who will trade with your money on your behalf. Any monthly profits will be split in a pre-arranged sharing formula. Again, there are no guarantees on the performance of these accounts and you should have a clear understanding of the significant risks involved with trading online.
The economic calendar provides the dates, time, charts, forecasts, analysis and history of events that are known to affect the trading instruments. Clicking on any of the events further displays its charts, analysis and detailed history. The economic calendar is courtesy of investing.com; a renowned website that offers free real time quotes, portfolio, streaming charts, financial news, live stock market data and more.
12 Trader Education
12 Trader provides its clients the opportunity to access trading webinars every month. These online trainings are handled by experienced senior market analysts who take clients through the aspects of technical and fundamental trading.
Traders can avail themselves of a personalized training approach with personal consultations on 12 Trader. This feature which is available on request is conducted through the phone and provides solutions that are based on the client’s trading experience.
12 Trader periodically organizes forex courses for interested clients. Traders can learn more about trading the financial markets from experienced traders and experts who will walk them through the intricacies. Every level of trader from beginner to professionals can take advantage of these courses.
12 Trader Instruments
There are 68 trading instruments available on 12 Trader. These consist of 47 currency pairs, 12 commodities, 7 indices and 8 cryptocurrencies. The trading brokers review team found the selection limited compared to many other online brokers, some of whom offer thousands of trading instruments.
12 Trader Accounts & Fees
There are four live trading account types on 12 Trader. Hedging is allowed on all accounts and a personal account manager is available for account holders. Automated trading with expert advisors (EAs) are allowed on all accounts.
There is the option of an Islamic (Swap free) account that complies with Sharia law for clients who are devout Muslims.
This account requires a minimum deposit of $500 to be opened. The maximum leverage available is 1:200. Daily Signals, market analysis and training are available for account holders but they can only trade on the Web Trader platform. Trading can only be done in US dollars.
The Silver account needs a minimum of $10,000 to be activated. The maximum leverage is 1:400. Account holders are entitled to daily signals, 12 Trader credit card as well as access to the Education centre. Trading can be done on both the Web Trader and the mobile trading apps. US dollars and Euros are the currencies allowed on this account.
$25,000 is the least amount required to open this account. The maximum leverage possible is 1:400. Account holders are entitled to daily signals, market analysis, training, the 12 Trader credit card and access to the education centre. Trading can be done on both the Web Trader and the mobile trading app. The acceptable currencies are US Dollars and Euros.
This account is not open to the public as it is for invitation only. It requires at least $100,000 to be activated. Account holders are entitled to personal attention and the highest level of service delivery as well as the normal privileges available to other 12 Trader account holders.
12 Trader does not charge any commissions. The trading fees are incorporated into the spreads which are usually tighter than the other accounts, for e.g. the spread on the EURUSD is 0.6 pips. Rollover interests or swap fees apply.
As broker fees can vary and change, there may be additional fees that are not listed in this 12 Trader review. It is imperative to ensure that you check and understand all of the latest information before you open a 12 Trader broker account for online trading.
12 Trader Support
12 Trader clients and prospective traders can access customer support Mondays to Fridays on a 24/5 basis. The support team can be reached through email, phone calls or instant live web chat. There is a ‘contact us’ form on the brokers website which can be used to reach the support team. On social media, the support team is on Facebook, Twitter and Instagram.
12 Trader Deposit & Withdrawal
The minimum deposit and withdrawal on 12 Trader is $500. Both Euros and US Dollars are accepted currencies for payments.
The following methods are available for deposit and withdrawal with this broker:
12 Trader accepts Visa, MasterCard, Maestro, American Express, UnionPay and Diners Club credit/Debit cards for deposit and withdrawals. A minimum deposit of $1 can be made while the maximum is $15,000. The processing time for this method is instant for deposits while withdrawals can take 2 business days.
12 Trader also offer its own branded prepaid card in partnership with MasterCard. This is available to Silver and Gold account holders. Clients can use the card not only to make deposits and withdrawals but make online and offline purchases. It can be used on ATMs worldwide.
Deposits and withdrawals can be made by the transfer of funds through international bank wire transfers. A minimum deposit of $500 can be made through this method while there is no maximum. The processing time for deposits and withdrawals is 3-5 business days.
There are a variety of e-wallets that are usable on 12 Trader for deposits and withdrawal. These include Neteller, Skrill, PayPal and Webmoney.
There are also other online payment gateways available for specific territories and regions and these include POLi, Rave, Neosurf, Yandev, EFT Pay, Epay.bg, EPS, Nordea Solo, Przelewy24, Boleto Bancario, BPay, CartaSi, GiroPay, Ideal, Qiwi, Dankort, Interac, Klarna, PaySafe, Postepay, Rapid Transfer and Sepa.
Deposits range from a minimum of $1 to $450 depending on the payment method used. Most of the internet payment methods have a maximum of $100,000 though a few of them have maximums that are below (Rave $10,000, Interac $3,000) and above (EFT Pay $250,000, BPay $380,000) this amount.
Processing of deposits is usually done in 1 business day while withdrawals take a maximum of 2 business days. Clients will have to handle the various user fees that come with using these methods.
Clients can deposit and withdraw through Bitcoin and Bitcoin cash. The minimum deposit is $1 with Bitcoin and $20 with Bitcoin Cash. There is a maximum deposit of 100,000 on Bitcoin and $400 daily with Bitcoin Cash. The processing times for these cryptocurrencies are instant and 1 business day respectively.
12 Trader: Account Opening
To open an account on 12 Trader, you can fill out the short form on the brokers website and click ‘register.’ Immediately, you are logged into the clients’ area.
You can also click on the button ‘Open an account’ to display the registration form. Filling the form successfully means you’ve registered on 12 Trader. You will be allocated an account number and taken to your personal page where you will have access to the Web Trader as well as manage your account details. You will have to upload your verification documents from this clients’ area. You will also receive an email with your login details to the trading platform.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
12 Trader Summary
12 Trader has some advantages which could be appealing to traders. These include the educational resources available as well as the myriad of convenient payment options for clients around the globe.
Traders may find the market analysis and the trading signal services helpful. The account management services will also be of use to those who want their funds managed whilst there is also social trading available.
Despite the positives, the big red flag which could be dissuasive to potential clients is its unregulated status. Offshore and unregulated brokers are often frowned upon by experts. The brokers spreads are not the tightest we have seen. Furthermore, the trading account with the best conditions available from the broker requires a large minimum deposit.
Trading in Forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss. Such trading is not suitable for all investors so you must ensure you fully understand the risks before trading.