Trading 212 deposit and withdrawal in test

Among the features that you can read in almost every review and field report on the numerous Forex brokers is usually information on the payment methods offered by the broker, as well as the minimum deposit, in this case, 1 Euro or US-Dollar. This is mainly about which deposit and withdrawal methods the respective provider provides, how long the average transaction takes to process, and whether there are any costs associated with deposits and withdrawals to the trading account.

An overview of the deposit and withdrawal possibilities

This is exactly the topic we would like to deal with in the following guidebook and furthermore, we would like to go into detail about which interesting information you should know about the payment methods of Brokers Trading212.

Available payment methods with Trading212

Among the first payment methods offered by almost all Forex and CFD brokers today, bank transfer and credit card were among the most popular. Nowadays, these two payment methods have become indispensable, as they are used by many traders. So today almost all Forex brokers accept not only bank transfers but also various credit cards, especially VISA and MasterCard.

Overview of different payment options

The range of payment methods has expanded considerably in recent years so that quite a few brokers now offer their customers between five and ten different payment methods. Trading212 is no exception, especially the following online payment systems, which have been made available by more and more brokers in recent years:

  • Skrill
  • GiroPay
  • Instant bank transfer
  • Neteller
  • PayPal

The advantage of online payment systems is in particular that the booking of the deposit can usually be done immediately. This gives the customer the opportunity to place a trade order directly after the deposit with almost no time delay. Bank transfers are still somewhat slower, as it usually takes between one and three working days until the money is actually available in the customer’s account, i.e. in the trading account with the broker.

Processing time and occurring costs with payments

Two interesting questions, which occupy many traders in connection with the payment methods offered by brokers, are how long does it take to book payment and what costs can arise. As already mentioned, a bank transfer usually takes between one to three business days.

Nearly all other payment methods guarantee a faster booking of the deposited amount, starting with credit cards up to various online payment systems. On the other hand, it can take a little longer for credit card and bank transfer payments, as most brokers check whether the payment is justified and meets the applicable conditions.

Trading with this broker is subject to certain terms

As far as the possible costs of deposits and withdrawals are concerned, there are sometimes big differences between the brokers. Some brokers provide deposits and withdrawals free of charge for all payment methods, while other brokers only provide deposits or also withdrawals that can be used free of charge using a particular payment method.

Broker Trading212 also falls into this category, as not all deposits and withdrawals are generally free of charge for every payment method. We will inform you in the following sections about what you should consider in detail in this respect.

Deposit methods with Trading212

There are a total of six different payment methods which you can use at Broker Trading212 at least for deposits, namely:

  • Bank transfer
  • Credit card
  • Debit card
  • Skrill
  • GiroPay
  • Instant bank transfer
If questions arise customer support or the community forum are a good place to ask

So you can choose between these six payment methods if you want to make a deposit into the customer account. The number of payment methods is naturally smaller, because especially Skrill, GiroPay, and Sofortüberweisung can of course not be used for a withdrawal from the trading account.

In this case, you will have to choose between the three options bank transfer, credit card, and debit card. At this point, we recommend that you choose either a credit card or one of the online payment systems. The main reason is that these payment methods guarantee a quicker booking of the deposit to your trading account than would be the case with a bank transfer transaction.

Everything you need to know about deposit and withdrawal options with this broker can be found in the following table:

DepositFeesWithdrawalFees
Bank transfer0,7-3,5%Bank transferMin. 5 Euros
Credit card0,7-3,5%Credit cardVariable
Debit card0,7-3,5%Debit cardVariable
Skrill0,7-3,5%
GiroPay0,7-3,5%
Instant bank transfer0,7-3,5%

Processing time of payments

A question frequently asked by many traders is how long it takes for the funds to be deposited into the trading account of the CFD broker. Trading212 states that when using a credit or debit card, it takes only ten minutes as a maximum until the booking takes place after the release.

On the other hand, if you make a transaction by bank transfer, it can take 2-3 business days before you can dispose of the funds on your trading account. However, if you wish to transfer funds from your trading account to your normal account, it may take 2-3 business days for both bank transfers and credit and debit card transactions.

Register for or log into your account to use its functions

Generally, you can assume the following time spans to be accurate when depositing money:

MethodProcessing time
Credit cardA couple of minutes
Debit cardA couple of minutes
Bank transfer2-3 working days
SkrillVariable
GiroPayVariable
Instant bank transferVariable

Fees and charges that arise while making payments

With regard to the costs for deposits, it depends on the selected deposit method. Depending on this, fees between 0.7 and 3.5% are charged. Among the most frequently asked questions and answers is the question of whether Trading212 charges fees for deposits to the account, but the answer only implies that fees are charged depending on the account currency and the deposit method.

Check out the videos about investing money

However, the answer does not explain exactly which costs are charged for which payment methods. Instead, the broker simply states that the exact amount of the fees is then displayed before a payment is initiated. We would expect more transparency here because it would certainly not be a problem to immediately list the amount of the deposit fees incurred in the answer to the question asked.

Not only for some deposits the broker charges fees but also for withdrawals via bank transfer there are costs for you as a trader to consider. Here, however, the broker emphasizes that he himself does not charge a fee, but instead the bank with which he cooperates. This bank charges a fee of five euros for executing the bank transfer. In addition, your own bank could of course also charge a further fee, which the broker naturally has no influence on.

It is also important to note that deposits to the trading account may only be made by the account holder. It is therefore not permitted for third parties to make a deposit to the account which is managed by Broker Trading212. It is also important to know that withdrawals may only be made using the same payment method that was used for the deposit. In concrete terms, this means that if, for example, you have deposited 500 euros by credit card to your trading account with Broker, the payout must also be made by credit card and not by bank transfer.

Conclusion: Withdrawal and deposit money with Trading212

In our opinion, there is light and shadow in the payment methods at Broker Trading212. On the positive side, there are at least six different payment methods that can be used for deposits. Among them are three of the most popular online payment systems, especially GiroPay and Sofortüberweisung. Less positive, however, is the fact that there are fees for deposits depending on the account currency and payment method, which the broker does not present in a completely transparent manner on the website.

A regulated and secure broker

Only then, before a deposit is actually initiated, are the costs incurred displayed. When withdrawing by bank transfer, Broker Trading212 itself does not charge any fees, but the trader must calculate five euros per withdrawal by bank transfer because the broker’s bank charges these costs.

Read our other articles about Trading212:

Leave a Reply

Your email address will not be published. Required fields are marked *