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Thinking of trading or investing with Trading 212? It’s a popular choice, as the London-based company and its forex trading app has over 50,000 users and has been downloaded more than 14 million times¹.
With Trading 212, you can trade equities, commodities, forex, cryptocurrencies, exchange-traded funds (ETFs) and much more commission-free². There’s even a stocks and shares ISA but this article will talk about minimum deposits in Trading 212.
First, let's answer a very important question before you start trading on Trading 212.
The majority of stocks being traded in Trading 212 is in USD but some are in GBP and EUR. When you set up your account, you’ll be asked to choose a currency for trading which you won’t be able to change once your account is active unless you close it and open a new account.
If you’re wondering which currency to set as default on Trading 212, it's good to select the currency of most of the stocks that you would like to trade.
When you buy a stock that is in another currency, the invested money is also being affected by the forex fluctuations which means that you could either lose or gain depending on the exchange. While that means potential earnings, you could also lose quite some money if the forex goes against you.
If your local bank account is not in USD, you could benefit from using a single multi-currency account both for deposits and withdrawals. This way you can easily manage your investments in different currencies under one account which will also simplify your tax reporting.
Check out Wise Multi-currency Account! It's a borderless global account which supports the major trading currencies in Trading 212 and provides cheaper currency conversion and always at the mid-market rate.
Trading 212 has three main products - Invest, CFD and its ISA. There are different minimum deposits for each:³
- Trading 212 Invest - the minimum deposit is £1 GBP (or €1 EUR or $1 USD)
- Trading 212 CFD - the minimum deposit is £10 GBP (or €1 EUR or $1 USD)
- Trading 212 ISA - the minimum deposit is £1, or £10 for bank wire deposits.
The good news is that there are no fees for funding your account at Trading 212, but only up to a certain amount.
Here’s the key thing to remember - for Trading 212 Invest or ISA, you can make as many free deposits as you like up to a limit of £2,000. This is only if you choose to fund your account with one of the following payment methods:
- Credit or debit card
- Google Pay or Apple Pay
Once you reach the £2,000 limit, you will be charged a fee of 0.7%.
Payments made via bank transfer are free of charge - although you should check with your bank whether it will charge any transfer fees.
If you use Trading 212 CFD, you won’t pay any deposit fees.
Along with minimum deposits, Trading 212 also has minimum withdrawal amounts.
The minimum trade-in limits are different for each Trading 212 product. Here’s what you need to know:³
- Trading 212 Invest - the minimum withdrawal amount is £1 GBP
- Trading 212 CFD - the minimum withdrawal amount is £10 GBP
- Trading 212 ISA - the minimum withdrawal amount is £1 GBP.
And here’s a handy thing to know - there are no fees to pay when withdrawing your earnings from the Trading 212 platform. So, you can withdraw to your bank (or to your Wise account.
You can fund your Trading 212 account through a choice of different payment methods. These include:⁵
- Bank transfer (including instant bank transfer)
- Credit or debit card
- Carte Bleue
- Direct eBanking
- Apple or Google Pay
The time it takes for your deposit to appear in your account depends on the payment method you use. For example, a debit or credit card payment may only take minutes to go through, but another payment method may take longer.
The payment method you choose may also affect the deposit fee you pay (if any), as we’ve looked at in the section above.
So, that’s pretty much it - all the essentials you need to know about Trading 212 minimum deposits. We’ve looked at the minimum amounts you can fund your account with, payment methods and the deposit fees you need to know about. Plus, we’ve even touched on withdrawal limits.
It’s a good idea to do your own research into the conditions and risks of trading using platforms like Trading 212. But hopefully, the information in this guide should give you a good place to start. Good luck!
Sources used for this article:
- Chrome Webstore
- Trading 212 website
- Trading 212 Trading conditions
- Trading 212 Help Center - Fees
- Trading 212 Help centre - Payment methods
Sources checked on 18-May-2021.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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