12Trader
1.0

12Trader

Closed broker

Cons
  • This broker ceased it's trading services

Reviewed Broker: 12Trader

Regulated: Not regulated. Beware 12Trader is a Non-Regulated broker. It is NOT SAFE to trade.

Operated by Safe Side Trading LTD

Location: Saint Vincent and the Grenadines

Established in: 2015

Supported Languages: English, Arabic

Instruments: Forex, Commodities, CFDs, Cryptocurrency

Note:  The UK FCA warned about Safe Side Trading Ltd, stating that it is a clone firm of an FCA registered company. Also, they reported that the company owns another scam brand, CMS Trader.

The same warning against Safe Side Trading Ltd came from New Zealand FMA.

12Trader Account types  

 MICROSilverGold
Leverage1:2001:200/1:300/1:4001:200/1:300/1:400
Minimum Trade Volume100001000010000
Stop Out10%10%10%
Hedging AllowedYesYesYes
Islamic AccountOptionalOptionalOptional
Dealing DeskNo Dealing DeskDealing DeskDealing Desk
Deposit CurrencyUSDUSD/EURUSD/EUR
12Trader Credit CardNoYesYes
Daily SignalsNoYesYes
TrainingNoYesYes
Education CenterNoYesYes
PlatformWeb Trader12Trader Platform
Mobile-Web Trader
12Trader Platform
Mobile-Web Trader
Account ManagerNoYesYes
Minimum Deposit5001000025000

A demo account is available, as is typical with nearly all spot Forex brokers. 12Trader offers a free demo account that is a great tool to get a feel for the broker and explore day trading. Run on the same platform and following the same login page, but using simulated money and markets, the demo account means you can get to grips with the platform and trading strategies before opening a live account.

Islamic accounts and managed account are also offered.

Trading Conditions

Trade Cryptocurrency with 12 Trader

Cryptocurrencies are the hot thing nowadays, and it doesn’t take much to understand why. In an ever-changing market the cryptocurrency is a game-changer, and as traders our job is to take advantage of this new exciting opportunity. 

The Pros and Cons of cryptocurrencies

Pros:

  • Bitcoin and other cryptocurrencies stand alone, means they are not tied to bank or other financial institution nor influenced by such. No financial institution or government can affect its value.
  • There is final limit to the number of bitcoins: unlike other resources, bitcoins value is not affected by demand: means it will not increase as more users join the network. There are steps being taken to prevent inflation and to keep the total number of bitcoins in circulation to 21 million at most. There is a fix rate in which bitcoins are created. from this scarceness the bitcoin draws its continuing value, which makes it an easy payment method.
  •  Because of the distributed nature of the bitcoin trading system, the risk of hacks decreases. While it’s harder to hack into the system because users can remain anonymous and the system is not centralized, it is not impossible, and there has been hack in the past.
  • Cryptocurrencies are secure. Strong cryptography and the fact that only the key owner can send cryptocurrency makes breaking the system incredibly hard. 

Cons:

  • As mentioned above, the cryptocurrencies are not immune to hacks. There were two big scandals in 2015 and 2016 which cost a significant loses of millions of won.
  • Cryptocurrencies are innately volatile, and lacking legal institutions protection. The fluctuations the bitcoin is subject to are less predictable than government-backed currency.
  • Because cryptocurrencies are relatively new and the market is changing in a rapid pace, it can be hard to predict what the future holds: will governments eventually limit the cryptocurrencies? Will there be other systems which will bypass it? 

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

Trading instruments:  41 forex pairs, but there are also CFDs and cryptocurrencies such as Bitcoin, Ripple, and Litecoin, along with indices, commodities, metals, and stocks.

Day Trading: Yes

Swing Trading: Yes

Maximum leverage: 1:400

Demo account: Yes

Trading Platform: Sirix

Fixed Spreads: yes 

Stop loss: yes

Limit orders: yes

OCO orders: yes

Hedging: yes

Trailing SP/TP:  yes

Automated trading: no

Social trading: yes. 12 Trader avail its clients or investors with the opportunity to follow and copy the trades of other expert traders through social trading. 

Benefits

Strong reasons for choosing 12Trader include:

  • Social trading – The social trading capabilities of the SIRIX platform are widely regarded as easy to use and effective, allowing both copy trading and social interaction between traders.
  • Customer service – There is a focus on customer service, providing live chat with a personal account manager at all account levels alongside email, phone, social media and post.
  • Leverage – Generous leverage rates can see users trade with up to 1:400.

Drawbacks

Unfortunately, 12Trader does fall short in a few areas:

  • Automated trading – Many experienced traders use automated trading, the lack of which at 12Trader is a shame.
  • Reviews – There have been a few negative user reviews regarding issues when withdrawing profits.
  • Minimum deposit – The $500 minimum is quite high, making it less accessible for inexperienced traders

12 Trader Platforms

Trading with Web Platform

There is no need to download nor search for a trading application. The Broker offers you the best trading platform on their website, in order for you to reach the Forex market even more quickly. 

The Latest Techniques In The Web Platform

The web platform works with a single click, meaning that one click is all that you need to activate a deal. Moreover, you can find the best way to do technical analysis using our specialized graphics, which allows you to do technical analysis while providing you with instantaneous growth in the market, so that you can stay updated on everything that is happening in the market.

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. 

12Trader Review : Payment Methods

Payment options: Credit cards, Wire, Paypal, Skrill.

Silver and Gold account holders can take advantage of 12Trader VIP Card:

  • The card is connected to your 12Trader account
  • Transfer trading profits to you card easily
  • Track and control your account 24/7
  • Access your profits instantly
  • Withdraw funds from ATMs and use in shops and online orders
  • No debt or interest charges

Minimum deposit: $500. Quite high requirement compared to other forex brokers such as Liteforex, Octafx, XM and Instaforex. 

Customer Support and Educational Material

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.

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.

How was the rating of 12Trader performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on 12Trader FX broker performance and features.

Overall our online 12Trader review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online 12Trader or you find inaccurate details 12Trader broker review please get in touch with us and the changes will be applied.   

 The social trading with SIRIX platform

1.0
Regulation and Security
1.0
Platforms and Features
1.0
Deposit and Withdrawal
1.0
Educational Material
1.0 Overall Rating

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