12Trader Review (2023)
Is 12Trader a scam or legit broker?
No, it is not safe to trade with 12Trader. 12Trader is owned by Safe Side Trading Ltd, which is an offshore company registered in St. Vincent and the Grenadine.
St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CapitalXP, Welkron and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
About 12Trader
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is 12Trader safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
According to the website, 12Trader claims to be a group of the world’s best global financial market experts, who have come together in order to provide you with the best services available in Forex trading, stocks and contracts. However, the company doesn’t back up all these claims with the information about its regulation. It claims to be located in London, UK. We also couldn’t find any records of the company’s license with the British regulator Financial Conduct Authority.
Conclusion
We advise all investors and traders to avoid 12Trader and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets, Global GT Forex, FBS Trading Broker.