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12trader Review – is it scam or safe?

12trader Review – Is it scam or safe forex broker?

RATING: 2 / 12 REVIEWS 12trader
12trader is an offshore broker. Your money is not safe.

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Trading accounts and conditions

 
Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Micro $50 0.1 lot 1:200 3 pips
Silver $/€ 10 000 0.1 lot 1:400 3 pips
Gold $/€ 25 000 0.1 lot 1:400 3 pips
 
 
12trader offers three types of accounts: Micro, Silver and Gold, as well as “exclusive accounts” with a minimum deposit of $100 000 and with “invitation only”. There is no demo account, however. 
 
The broker offers trading in forex and CFDs on stocks, indices, gold, commodities and oil. 
 

The Company. Security of Funds

12trader is an unregulated forex broker, which claims to be based in London and is owned by Safe Side Trading. According to the broker's site, it is “subject to supervision from the strictest regulatory bodies, along with other serious companies in the forex field”. Oddly enough, however, 12trader does not give neither the name of the regulatory body that oversees it, nor gives an example of a serious company in the forex field that is supervised by the same watchdog. 
 
Such unsubstantiated claims are usually a huge red flag that the broker might be a scam. Moreover, the company does not appear to keep its client money in segregated accounts, not to be a member of a compensation scheme. This also is a sign that 12trader's intentions might be nefarious, despite the pledges of honesty and pretty words on its website, so the wisest thing to do is choose another broker, preferably a well-regulated one. 
 

Trading platform

Unlike the majority of forex brokers that offer the MetaTrader platform, sometimes in addition to their own in-house platform, 12trader offers a platform called “12trader”. In reality it is the Sirix forex trading platform, developed by Leverate. 
 
The platform has many features like one-click trading, advanced charting tools, social trading, etc. There is also a web version and mobile applications for smartphones and tablets. 
 

Methods of payment

12trader accepts deposits through bank transfers, debit and credit cards and the electronic payment systems Skrill and PayPal. Its minimum deposit of $500, however, is rather high, especially for an unregulated broker.
 

Conclusion

Overall, 12trader is a dubious and unregulated forex broker. It does not provide any information on essential matters like regulation and security of funds. There is also the fact that its name reminds of the forex broker Trade12, which has garnered several warnings and has been blacklisted by Russia's self-regulatory organization KROUFR. 
 
 
Pros: Cons:
1:400 leverage Unregulated
  High minimum deposit 
 
 
 
Latest news about 12trader
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Traders` reviews for 12trader

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Stay Away Heart Broken

I was encouraged by my account manager to invest more and more because I can make so much money. He would call me daily to check on me and was very polite and charming. We even had a invested all my life savings with this company in November my account manager Vlad Anderson personally did a trade for me in oil buy with size volume of 1 lot. Oil price was on the downtrend from October and he put the trade in November, what is upsetting about this is he did not use a stop loss. the oil is still on a downtrend and we are in the last day of December 2018. Vlad is refusing to accept blame that because he did not use a stop loss he has cause me to loose all of my investment. this is not right, I wrote to them and they told me my faith lies with the same account manager and of course he has not refunded me a cent.

Sonya 01/01/2019

Does not like to use stop loss all the time

I started with this.company in August 2018 and by December of 2018 i have lost all of my investment. I was assigned an account manager by the name of Vlad Anderson very charming, polite, funny guy but dont be deceived by this people. In November the account manager did a trade for me ib oil buy at 1 volume size. The oil was in decline from October until now in January 2019 and he choose to buy instead of sell so because of this i lost all of my investment. When i started i was promised good returns on my investment, that i would make a lot of money and all the good things money can buy but i can assure you when they take chances.on customers account espicialy when they dont use stop loss the results can very devastating in my case. I did write to them complaining but no positive outcome. The account manager has the final say when it comes to client. The most upsetting of this whole situation is after he blew my account he started posting messages to other traders about the importance of using stop loss. I say too little too late for me. It was there fault and i am left holding the end of the stick with zero account. Shame on this company

Sonya Anius 01/01/2019

Scam Alert

The so called Mr Collins and Mr Newman are real con men. They know all the tricks to pitch you with easy and high gains on small trades before asking you to put all of your savings, saying that they need a lot in order to bet 10% of it. Don't fall for it and don't put money on 12trader. Once you give them your money, they will pretend someday that they made a bad deal and lost almost everything of it. I am used to con men so I had a good time watching Mr Newman , even if I lost 4500€. A few days later I made 20 times more with cryptos.

I dont understand why they are not under arrest already.

jean-philippe leffre 12/21/2018

12Trader is a scam

So the sales person is very convincing supportive and well behaved. With big dreams I fell for it i mean these guys seem to have theirs good. I could only deposit after a full month he was patient so I promised i would and so I did. Morning after it was congratulations and all you will be allocated your acc manager in the next 30min after the morning briefing and so i waited. 3 hours later I recieved the call and we were to start the next day. Next day came nothing so i made contact still nothing the platform is not working and im left on the dark. So ive processed my widthdrawal but after reading the commemts on 12trader Ive lost hope.
So everyone out there be warned.

Wandile 10/02/2018

I won't get my remaining money

Dear readers

I was trying to make a follow up about my remaining money that 12Trader is claiming to have sent and it's clear that I will never get it. So stay away from 12Trader. You might find out that I was even lucky to get what I got. They are so crooked. Joseph McCarthy keeps telling me my money was sent. They are accusing my bank and my bank knows nothing about the money.

Princess Ngoyi 08/24/2018

Money received is less than what was withdrawn

Hi readers who might be considering 1212Trader for future trading. I would like to share my experience with you, below are some of my reviews on the broker. I finally received my money on 09 August last week. The money reported to the bank as 164 EUR and converting it to USD it was about $190 and I had funded my account in US dollars and they returned my money in EUR and is even short. When I asked my account manager Joseph McCarthy he said he was going to make a follow up and he made a promise that the money will be then funded into my trading account because is small. Today I received the document I have been asking for long time ago and they are claiming that they sent me 204EUR. When I explain to Lina their customer service and support desk agent she my money was sent. I informed Joseph McCarthy about the latest findings about my money, he said my bank must have done conversion whereas I got a reference number to claim my money which was in EUR. The bank took commission from 164EUR I received. I called the bank to confirm the babnk said they only took commission after I made a claim of 164EUR and that is the end of the story.

If you want to get involved with 12Trader it's your choice, I don't find them honest and trustworthy. I had to fight all the way yet I am claiming my own money not even money I made in trading.

Princess Ngoyi 08/14/2018

12trader - Withdrawal made but no money received

I wrote yesterday out of anger and disappointment on 12Trader, not even customer service and support desk was responding. Today I got a response from my account manager Joseph McCarthy saying that he was out of the office and Lina who seems to be the only person in customer service and support desk is also on vacation while Justin Jones who recruited me started by changing numbers and now I can't get hold of him. Joseph is also begging me to rewrite my comment about 12Trader and tell the world I did wrong by writing I can get hold of them. He further says they are not holding investor's funds they have released the money, he says if I want pity I should continue to write which is a threat and doesn't stop there he says he is the one issuing monies to the bank if I keep writing about my experience with 12Trader he'll make sure that I don't get my money back from them. I couldn't believe it. I have it recorded on my whatsapp. I am so devastated $238 is a lot of money for me and I need it. As per their withdrawal process they say withdrawal take 3-5 working days but not with me. They processed my money on the 25th and all I have been asking is a document that I can take to my bank for follow up with the bank and that is all.

Princess Ngoyi 08/08/2018

They want to return my money

I made a withdrawal long time ago and it was processed on the 25th of July. I haven't received my money since then and no one is responding to my query, Joseph McCarthy who was my account manager just tells my withdrawal was processed. I am only asking them to give me a document that I can take to my bank for follow up with them and they are not responding when I ask them to give me that proof that they deposited into my account.

Princess Ngoyi 08/07/2018

Robbed off 12k

Robbed off 12k investment and profit.
I cannot access my account and they are not willing or able to assist me.

justice 03/12/2018

How can I get my money back?

Yes,I deposited money into 12trader account. was given access to their platform. Tested the platform and realised the withdrawal button was disabled.
You (change name)
I then made an inquiry and the button was enabled 3 daYS LATER.
You (change name)
on 10/02/2018 I followed all due peocesses to withdraw all my money $1000 and close my account.
You (change name)
The broker who recruited me no longer takes my calls and their support line does not respond to my emails.
You (change name)
My name is Themba ,How can I get my money back ?
You (change name)
My email address is [email protected]

themba 02/27/2018

Failing to withdraw my funds

Yes.They do not comply with their withdrawal policy.
Am failing to withdraw my funds after having completed all due processes.
Received no response from the support center after emailing them several times.
Poor customer care

Themba 02/25/2018

Scam

Please don’t open account with 12 traders scam, you will deposit the money but you can’t withdraw your money

Jams 01/27/2018
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