Trading 212 is an established broker for traders and investors with 2.5M+ funded accounts. It has a shares lending program, and sufficiently varied Forex asset selection, but exceptionally high fees. Should you trade with Trading 212 or consider other brokers? Find out by reading my in-depth Trading 212 alternatives analysis.
Overview of Trading 212 Alternatives
FP Markets
In Summary ECN trading with leverage up to 1:500fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.
Pros & Cons
- Choice of trading platforms and auxiliary trading tools
- Very competitive cost structure and excellent asset selection
- Well-regulated and trustworthy
- No minimum opening deposit for eligible accounts outside IRESS, Mottai and DMA; leverage of up to 1:500
- Availability of Iress geographically restricted
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsEightcap is particularly suitable for traders who value trading technology, alternative funding options, and integrated tools such as TradingView and its AI-powered economic calendar. Manual traders get a well-designed AI-powered economic calendar. MT5 traders benefit from Flash Trader, while the dedicated cryptocurrency solution Crypto Crusher caters to cryptocurrency traders.
Copy traders get the embedded MT4/MT5 services, and Eightcap connects social traders to the active TradingView community. Beginner traders get an outstanding educational and research offering via Eightcap Labs and Eightcap Trade Zone.
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade is one of the largest Forex / CFD brokers and well-known for offering their clients a choice of fixed or floating spreads. They have a very high and strong level of regulation. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava offers maximum leverage on Forex currency pairs as high as 400 to 1. AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. 2 bonds and 6 ETFs are also on the menu.
Pros & Cons
- High quality educational offering via AvaAcademy
- Excellent choice of trading platforms catering to various trading needs
- Broad asset selection and cross-asset diversification opportunities
- Well-regulated and trusted broker with oversight from a central bank
- Trading costs competitive but nothing special
BlackBull Markets
In Summary 1:500 maximum leverage with ultra-low trading fees and deep liquidityBlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.
Pros & Cons
- ECN/NDD execution model with deep liquidity
- Institution-grade pricing for retail traders via proprietary price aggregation
- ZuluTrade and Myfxbook for social trading
- Leverage of up to 1:500
- Limited deposit options
| | | | |
Regulators | ASIC, CMA (Kenya), CySEC, FSCA | ASIC, CySEC, FCA, FSA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | FMA, FSA |
Year Established | 2005 | 2009 | 2006 | 2014 |
Execution Type(s) | ECN/STP | ECN/STP, Market Maker | Market Maker | ECN/STP, No Dealing Desk |
Minimum Deposit | ||||
Average Trading Cost EUR/USD | 1.2 pips | 1.0 pips | 0.9 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.2 pips | 1.5 pips | 1.55 pips |
Average Trading Cost Gold | $0.16 | $0.12 | $0.29 | 0.12 pips |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Web-based, IRESS, Trading View, Mottai (in-house DMA platform) | Other, MetaTrader 4, MetaTrader 5, Trading View, TradeLocker+ | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Islamic Account | ||||
Negative Balance Protection | ||||
| Visit Website | Visit Website | Visit Website | Visit Website |
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Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Web-based, IRESS, Trading View, Mottai (in-house DMA platform) | Other, MetaTrader 4, MetaTrader 5, Trading View, TradeLocker+ | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Regulators | Yes ASIC, CMA (Kenya), CySEC, FSCA | Yes ASIC, CySEC, FCA, FSA | Yes ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | Yes FMA, FSA |
Minimum Deposit | ||||
Automated Trading | ||||
Social/Copy Trading | ||||
Average Trading Cost EUR/USD | 1.2 pips | 1.0 pips | 0.9 pips | 1.1 pips |
| Visit Website | Visit Website | Visit Website | Visit Website |
Important Factors in Finding Trading 212 Alternatives
While traders have various preferences, my Trading 212 alternatives analysis focused on the major categories which most traders evaluate when researching brokers.
My Trading 212 alternatives analysis focused on the five attributes below:
1. Fees: Most brokers claim low trading fees but maintain expensive costs, which is why I rank fees, which directly impact profitability, as my top priority. They also reveal which strategies a broker supports or passively discourages.
2. Account Opening: The minimum deposit is often different, and some brokers have a user-friendly online application, while others engage in regulatory-mandated data mining.
3. Deposit & Withdrawals: Traders should check withdrawal times and non-banking options, cryptocurrencies, and localized options to gauge how brokers compare to others, as all brokers offer bank wires and credit/card transactions.
4. Trading Platforms: Some brokers have MT5, cTrader, TradingView, and other third-party options or push their proprietary alternatives, but MT4 remains the undisputed industry leader, as is the leading algorithmic trading platform, which accounts for 80%+ of daily Forex trading volumes.
5. Markets & Products: Traders must ensure their broker offers what they need, as there are notable differences in the markets and products portfolios brokers maintain, second only to the differences in trading fees.
Trading 212 Alternatives
FP Markets
FP Markets offers a quality trading environment with MT4/MT5 upgrades, a well-balanced asset selection, and MAM/PAMM accounts for licensed account managers.
Fees
Raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot, supported by deep liquidity, ensure traders get competitive trading fees.
Pros | Cons |
|---|---|
Low Forex fees | None |
Competitive swap rates | |
No hidden costs |
Account Opening
FP Markets collects more data than many competing brokers during its multi-step online account application.
Pros | Cons |
|---|---|
Digital account application | Lengthy application with data mining |
Ten account base currencies | |
Trusted broker |
Deposit & Withdrawals
FP Markets ensures flexibility when making deposits or requesting withdrawals with fast withdrawal processing across 25+ payment options, including online payment processors and cryptocurrencies.
Pros | Cons |
|---|---|
No deposit fees | Potential currency conversion fees |
No withdrawal fees | |
18+ deposit currencies |
Trading Platforms
Traders get MT4, MT5, cTrader, TradingView, Iress, proprietary mobile apps, Myfxbook Autotrade, and Signal Start.
Pros | Cons |
|---|---|
12 quality MT4/MT5 plugins, and Trading Central and Autochartist | None |
MAM/PAMM modules for traditional account management | |
VPS hosting for low-latency 24/5 market access |
Markets & Products
The competitive choice of copy trading solutions and well-balanced asset selection, including cryptocurrencies, ETFs, and bonds, stand out at FP Markets.
Pros | Cons |
|---|---|
Good choice of ETFs and commodities | None |
Balanced asset selection | |
In-house copy trading service |
Verdict
FP Markets beats Trading 212 with its payment processor infrastructure and trading fees.
Eightcap
Capitalise AI, offering algorithmic trading solutions in a code-free environment, creates a distinct competitive edge for Eightcap traders, which few brokers can match.
Fees
Traders get competitive trading fees with Eightcap in the commission-based account, which offers raw spreads from 0.0 pips for a $7.00 per 1.0 standard round lot commission.
Pros | Cons |
|---|---|
Competitive Forex fees | No volume-based rebate program |
No non-trading fees | |
Good pricing transparency |
Account Opening
Eightcap has a user-friendly account application asking traders for an e-mail address, desired password, name, and country of residence.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Seven account base currencies |
Deposit & Withdrawals
Deposit and withdrawal methods at Eightcap are bank wires, credit/debit cards, Skrill, Neteller, PayPal, BPay, Union Pay, FasaPay, PIX, Dragon Pay, cryptocurrencies, and localized payment processors.
Pros | Cons |
|---|---|
No deposit fees or withdrawal fees | Potential currency conversion fees |
Fast payment processing times | |
User-friendly back office |
Trading Platforms
While traders can use MT5 with the FlashTrader plugin or TradingView with its 50M+ social trading community, MT4 with the Capitalise AI plugin ensures a competitive edge.
Pros | Cons |
|---|---|
VPS hosting for low-latency 24/5 Forex trading | None |
Capitalise AI for code-free algorithmic trading | |
TradingView for social traders |
Markets & Products
Traders can diversify portfolios and strategies with a well-balanced asset selection of 800+ instruments covering five asset classes.
Pros | Cons |
|---|---|
Well-balanced asset selection | No bonds or other fixed-income assets |
Excellent beginner research and education via Eightcap Labs and Trade Zone | No ETF trading |
AI-powered economic calendar |
Verdict
Eightcap beats Trading 212 with the Capitalise AI plugin for MT4 and its trading fees.
AvaTrade
The trading platforms at AvaTrade, which include specialized platform options, together with the well-regulated trading environment, make AvaTrade a leading choice for traders.
Fees
Traders receive reasonable trading fees at AvaTrade, with commission-free Forex fees starting from 0.9 pips or $9.00 per 1.0 standard round lot.
Pros | Cons |
|---|---|
Reasonable Forex fees | Inactivity and administration fee |
Competitive commodity spreads | |
No hidden costs |
Account Opening
The online application form at AvaTrade only requires a name, e-mail, and phone number, ensuring new clients get a user-friendly onboarding process.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Seven account base currencies |
Deposit & Withdrawals
AvaTrade accepts bank wires, credit/debit cards, Skrill, Neteller, WebMoney, and PayPal for deposits and withdrawals.
Pros | Cons |
|---|---|
No deposit fees | Currency conversion fees |
No withdrawal fees | No cryptocurrencies |
Trusted withdrawal process |
Trading Platforms
Traders can use MT4, MT5, WebTrader, AvaOptions, AvaTradeGO, Ava Social, the mobile apps of MT4/MT5, and DupliTrade for copy traders.
Pros | Cons |
|---|---|
MT4 Guardian Angel plugin | None |
Trading Central plugin | |
VPS hosting for low-latency 24/5 market access |
Markets & Products
AvaTrade stands out with its superb educational program for beginners and balanced asset collection, including cryptocurrencies, ETFs, bonds, and FX options.
Pros | Cons |
|---|---|
Good choice of ETFs | None |
Well-balanced asset selection | |
Industry-leading education for beginners |
Verdict
AvaTrade leads Trading 212 with its trading platform choices and trading fees.
BlackBull Markets
The industry-leading asset selection, low-cost ECN trading fees, and superb trading infrastructure make BlackBull Markets a top choice for demanding traders.
Fees
Raw spreads from 0.0 pips for a commission between $4.00 and $6.00 per lot make BlackBull Markets fees, one of the cheapest Forex brokers.
Pros | Cons |
|---|---|
Competitive Forex fees and low swap rates | None |
No internal deposit or withdrawal fees | |
Pricing transparency |
Account Opening
The account application at Blackbull only requires a desired e-mail address, password, name, date of birth, country of residence, and phone number. Traders can also use their Google, Facebook, or Apple IDs to open a BlackBull Markets account.
Pros | Cons |
|---|---|
Digital account application | None |
No data mining | |
Well-regulated and trusted |
Deposit & Withdrawals
BlackBull Markets withdrawals accepts bank wires, credit/debit cards, Skrill, Neteller, FasaPay, Union Pay, POLi, Boleto, beeteller, AstroPay, FXPay, HexoPay, PaymentAsia, Use Pay, SEPA, Help2Pay, cryptocurrencies, and localized options.
Pros | Cons |
|---|---|
No deposit fees | $5 withdrawal fee |
Low minimum deposit requirements | |
Choice of deposit currencies |
Trading Platforms
Traders can approach financial markets with algorithmic trading, copy trading, or manual trading, via MT4, MT5, cTrader, TradingView, BlackBull CopyTrader, and BlackBull Trade.
Pros | Cons |
|---|---|
VPS hosting for low-latency 24/5 Forex trading | None |
API trading | |
ZuluTrade, Myfxbook Autotrade, and BlackBull Social for copy traders |
Markets & Products
With 26,000+ trading instruments, including 200 currency pairs, BlackBull Markets maintains an industry-leading asset selection suitable for all strategies.
Pros | Cons |
|---|---|
Excellent asset selection | None |
Cutting-edge trading infrastructure | |
Quality research and education for beginners |
Verdict
BlackBull Markets leads Trading 212 with its asset selection and trading fees.
Bottom Line
My review of Trading 212 alternatives concluded with the following results:
- FP Markets has excellent payment processors
- Eightcap ensures an edge with the Capitalise AI plugin for MT4
- AvaTrade maintains outstanding trading platform choices
- BlackBull Markets features the best asset selection
