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  • FIRST POST
    • teekay_tk
    • By teekay_tk 22nd Mar 16, 8:08 AM
    • 38Posts
    • 15Thanks
    teekay_tk
    Trading212
    • #1
    • 22nd Mar 16, 8:08 AM
    Trading212 22nd Mar 16 at 8:08 AM
    Hi all

    I was looking at apps on Android for share dealing and Trading 212 seems to be very popular platform. Has any one used it? I can't seem to find real user review for it. It is strange as it has been downloaded like a million times. The reviews on Google Play store are not very helpful as they are usually about app usability but not about long term experience.

    They charge EUR2 for buying/selling. Is this competitive?

    Is there a good Android share dealing platform someone can recommend?

    I am a complete newbie when it comes to share dealing. I am just learning about it now a days.

    Cheers
Page 1
    • bowlhead99
    • By bowlhead99 22nd Mar 16, 8:41 AM
    • 6,898 Posts
    • 12,413 Thanks
    bowlhead99
    • #2
    • 22nd Mar 16, 8:41 AM
    • #2
    • 22nd Mar 16, 8:41 AM
    Hi,

    When someone doesn't have a huge amount of posts on a forum (even if they've been a member for a long time) and starts asking questions about share trading services that I've never heard of, I usually smell spam. So I checked some of your other posts.

    The good news I guess, you don't seem like a spammer. So, apologies for doubting you.

    The bad news: back in January you were trying to get 83% of your tens of thousands of pounds of debt written off because you could only afford to pay 17% of them. And were on a debt management plan, right?

    The idea of suddenly getting into share trading (which can be similar to gambling even if you are a professional with tens of thousands of capital behind you and decades of experience), is sounds like a bad joke. Share trading is not the way to get rich from a tiny amount of savings. It is the way to lose your tiny amount of savings.

    Anyone who gives you friendly advice on the best trading platform to use for that purpose is likely to be inadvertently contributing to destroying your finances and life further. Desperate people kill themselves over this stuff. When you are short of money and unwilling or unable to ever pay back your debts, the last place to go for entertainment or to rebuild your life is an app-based share trading service with no verifiable positive reviews which allows you to deposit money and click away your meagre savings.

    Sorry if that sounds harsh.
    • EdGasket
    • By EdGasket 22nd Mar 16, 11:45 AM
    • 3,456 Posts
    • 1,446 Thanks
    EdGasket
    • #3
    • 22nd Mar 16, 11:45 AM
    • #3
    • 22nd Mar 16, 11:45 AM
    Trading 212 is FOREX, not sharedealing; A EUR 2 dealing charge for shares would be highly suspect as it should be more like EUR 15.
    • teekay_tk
    • By teekay_tk 22nd Mar 16, 6:40 PM
    • 38 Posts
    • 15 Thanks
    teekay_tk
    • #4
    • 22nd Mar 16, 6:40 PM
    • #4
    • 22nd Mar 16, 6:40 PM
    bowlhead99 thanks that is why I love money saving expert. It keeps me in check from doing stupid things again.

    I'll drop this idea for now. Certainly seems I don't know what I am talking about.
    • JohnRo
    • By JohnRo 22nd Mar 16, 11:24 PM
    • 2,458 Posts
    • 2,213 Thanks
    JohnRo
    • #5
    • 22nd Mar 16, 11:24 PM
    • #5
    • 22nd Mar 16, 11:24 PM
    I'll drop this idea for now.
    Originally posted by teekay_tk
    Take the sound advice given, forget about it completely.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • ehn101
    • By ehn101 23rd Mar 16, 8:09 PM
    • 13 Posts
    • 1 Thanks
    ehn101
    • #6
    • 23rd Mar 16, 8:09 PM
    • #6
    • 23rd Mar 16, 8:09 PM
    Trading212 is a CFD trading platform which allows you to trade leveraged instruments. If you know nothing about trading it's not advisable you go for a CFD broker because it is easy to end up in debt to the broker if you don't understand lot sizes and the concept of margin. If you want to dabble in shares the safer way would be to open a stocks and shares ISA and invest in physical stocks instead. You should learn how to value stocks as well as know the basics of technical analysis before you open an account though.
    • BananaRepublic
    • By BananaRepublic 23rd Mar 16, 9:30 PM
    • 871 Posts
    • 623 Thanks
    BananaRepublic
    • #7
    • 23rd Mar 16, 9:30 PM
    • #7
    • 23rd Mar 16, 9:30 PM
    I know someone who lost £20,000 buying and selling shares a few years ago. He still has not told his wife. I have been buying unit trusts for 25 years. I don't have the confidence to buy shares.
    • Jake85
    • By Jake85 24th Mar 16, 11:55 AM
    • 4 Posts
    • 0 Thanks
    Jake85
    • #8
    • 24th Mar 16, 11:55 AM
    • #8
    • 24th Mar 16, 11:55 AM
    Yes, forex and cfd trading involves risk of loss, so you need to always keep that in mind. I looked at Trading 212. They have a play money account - a practice account, as they call it. It's a good option if you want to take a look at the markets without risking any real money. Their website's FAQ section states that 'your loss is limited to the amount in your account', however, their min deposit is GBP 100, EUR 100 or USD 150 (again from their website), so it's your call whether or not you are ready to risk losing at least that much.
    Last edited by Jake85; 24-03-2016 at 11:57 AM.
    • bowlhead99
    • By bowlhead99 24th Mar 16, 12:23 PM
    • 6,898 Posts
    • 12,413 Thanks
    bowlhead99
    • #9
    • 24th Mar 16, 12:23 PM
    • #9
    • 24th Mar 16, 12:23 PM
    Yes, forex and cfd trading involves risk of loss, so you need to always keep that in mind.
    Originally posted by Jake85
    I would call it "involves likelihood of loss" rather than "risk of loss".

    The latter implies you might lose and you might not, just be generally aware there are risks ; while the reality is that a vast majority of retail investors who try forex trading do incur losses.


    I looked at Trading 212. They have a play money account - a practice account, as they call it. It's a good option if you want to take a look at the markets without risking any real money.
    Most CFD, trading and spreadbet houses offer trial accounts. Alternatively you can just refresh a currency chart on Google Finance and imagine how much you might have made or lost if you had called the direction or timing of movements correctly and were willing to lose all your money by getting it wrong.

    Their website's FAQ section states that 'your loss is limited to the amount in your account', however, their min deposit is GBP 100, EUR 100 or USD 150 (again from their website), so it's your call whether or not you are ready to risk losing at least that much.
    Again, most trading or spread-bet firms allow you to place controlled-risk bets,or purchase options on prices, which have a known downside so you can limit the risk to 100% of the money you've actually got on the platform.

    Without knowing anything in particular about this one, the fact that they've had their FCA licence less than two years doesn't inspire me to give it a go over and above their more established rivals - any more than I'm inspired by the thoughts of a brand new MSE member who has apparently signed up to the MSE forum solely to kindly tell us what we can read in the FAQ and suggest it's a good idea to open up a play account.

    • bugbyte
    • By bugbyte 23rd Jun 17, 5:18 PM
    • 245 Posts
    • 285 Thanks
    bugbyte
    Sorry to bump an old thread. My son - bless him - wants to spend a small amount on a Tesla share to say he 'owns' Tesla. I have tried to put him off saying he is buying for the wrong reasons and a world tracker fund is a better option for lots of different reasons. I even tried to explain that Tesla does not have a P/E ratio because it hasn't turned a profit. What will put him off is the fact you can't buy less than one share, and Tesla is trading at $384! Putting all of this aside, He came up with Trading 212 as his platform as it does not charge to trade. I explained to him it trades FOREX and CFD's which are not shares, but are used to go long or short on stocks - not a world you should go into unless you know what they are doing. It also trades 'Exchange Traded Equities' I don't know what these are - are they Shares as we know them? Are they linked in some way to ETFs?

    I have advised him if he wants a low cost broker to go with degiro as at least it has some history.
    Bed bugs represents you better than your signed name of bugbyte.
    • leejp
    • By leejp 23rd Jun 17, 6:16 PM
    • 265 Posts
    • 28 Thanks
    leejp
    Trading 212
    I think it's another name for ETFs. But as Bugbyte said, as far as I can see (I opened an account) it is a spread bet on the stocks rather than holding the stock itself. Quite a simplified interface encourages people to click buttons, like binary trading does. This appeals to the monkey brain in us and makes them cash.

    If I am missing something, do tell.

    Tell your son that Trading 212 amounts to entering Eugene's Lair.*

    *sorry only Bugbyte gets that.
    Lee.
    • Bazofts Revenge
    • By Bazofts Revenge 25th Jun 17, 8:34 PM
    • 295 Posts
    • 151 Thanks
    Bazofts Revenge
    Just watched a couple of videos on youtube and before both I got adverts for this. Decided to come here first and check it out as it wasn't too clear what they where pushing apart from cutting out the Investment Fat Cats...
    Solar PV cost £5760 (15/03/13)
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    • Malthusian
    • By Malthusian 26th Jun 17, 10:45 AM
    • 3,320 Posts
    • 5,060 Thanks
    Malthusian
    Decided to come here first and check it out as it wasn't too clear what they where pushing apart from cutting out the Investment Fat Cats...
    Originally posted by Bazofts Revenge
    Yon spread-betting bookie has a lean and hungry look. Let me have around me brokers who are fat. [Julius Caesar act I scene ii]

    @Bugbyte: If it's a genuinely small amount of money - clearly less than $400 - then I would let him go for it and learn a valuable lesson about the stockmarkets. On the condition that he buys an actual share in the company, rather than gambling on some betting app, after having a free lecture on counterparty risk.

    Having stalked your posting history, he has a Junior ISA, correct? Why not arrange for him to buy a share with that, keeping the rest sensibly diversified?
    • Jake85
    • By Jake85 7th Jul 17, 1:00 PM
    • 4 Posts
    • 0 Thanks
    Jake85
    Sorry to bump an old thread. My son - bless him - wants to spend a small amount on a Tesla share to say he 'owns' Tesla. I have tried to put him off saying he is buying for the wrong reasons and a world tracker fund is a better option for lots of different reasons. I even tried to explain that Tesla does not have a P/E ratio because it hasn't turned a profit. What will put him off is the fact you can't buy less than one share, and Tesla is trading at $384! Putting all of this aside, He came up with Trading 212 as his platform as it does not charge to trade. I explained to him it trades FOREX and CFD's which are not shares, but are used to go long or short on stocks - not a world you should go into unless you know what they are doing. It also trades 'Exchange Traded Equities' I don't know what these are - are they Shares as we know them? Are they linked in some way to ETFs?

    I have advised him if he wants a low cost broker to go with degiro as at least it has some history.
    Originally posted by bugbyte
    Exchange traded equities means actual share dealing / stock (equity) trading. Meaning, you trade real stocks, own them, receive dividends, etc. There is no leverage.
    Last edited by Jake85; 16-08-2017 at 12:26 PM. Reason: improving it
    • romeshw
    • By romeshw 16th Aug 17, 10:33 AM
    • 18 Posts
    • 4 Thanks
    romeshw
    I’ve been trading with Trading 212 for a short while now and yes you can own real shares through this platform. Look for the ‘EQ’ marker, which designates equities. There are also Exchange-traded Funds (ETF), which again you own. If you want to be more risky, then there are Contracts for Difference (CFD) and foreign exchange (FX); these two are normally traded on margin, which means you can gamble (and yes I do view these as a gamble) with more than you’ve deposited.

    Going back to Equities though, you can buy and sell these through Trading 212, with zero charges (apart from the compulsory stamp duty), up to 10 trades per month. I used to trade with Hargreaves Lansdown, paying £12 per trade, so, to me, this is a very valid (and free) platform for a small, long-term investor.

    ETFs are funds which in turn hold shares in multiple companies and are very good way of spreading risk. You can, for example, get an ETF that tracks the FTSE 100, which means that you are spreading your risk across all the companies in the FTSE100, for a small ongoing charge. If one company goes bust, you only lose a very small portion of your investment. A very good idea for a lot of people, but if you are not familiar with the terminology, I would recommend doing a bit of reading before putting in your hard-earned money.

    PS, Tesla are under the ticker ‘TSLA’, currently trading at USD 362 per share
    • EdGasketTheSecond
    • By EdGasketTheSecond 16th Aug 17, 1:19 PM
    • 297 Posts
    • 170 Thanks
    EdGasketTheSecond
    You might get some free trades but they make money elsewhere:

    Depositing funds:
    Depending on the method of payment and the currency of your account, a fee between 0.7% and 3.5% is applied

    From: https://www.trading212.com/en/Terms-and-Commissions

    They are also primarily a Forex and options business; not sure they want buy and hold investors but I may be wrong.
    • Jake85
    • By Jake85 16th Aug 17, 4:25 PM
    • 4 Posts
    • 0 Thanks
    Jake85
    You might get some free trades but they make money elsewhere:

    Depositing funds:
    Depending on the method of payment and the currency of your account, a fee between 0.7% and 3.5% is applied

    They are also primarily a Forex and options business; not sure they want buy and hold investors but I may be wrong.
    Originally posted by EdGasketTheSecond
    The transaction fees go to the payment provider, not the broker.

    They don't offer binary options - only share dealing, Forex and CFDs, as already mentioned above.

    Share dealing happens to be a new service for them, so I guess they are really keen on gaining customers investing in real stocks. Otherwise, why even bother to offer it, advertise it and provide a monthly amount of commission free deals.
    • grey gym sock
    • By grey gym sock 16th Aug 17, 6:13 PM
    • 4,131 Posts
    • 3,643 Thanks
    grey gym sock
    The transaction fees go to the payment provider, not the broker.
    Originally posted by Jake85
    so you're saying that none of the 0.7%-3.5% fees for adding money to a trading212 account ends up going to trading212, even indirectly (e.g. via commissions).

    1) how do you know? (do you work for them?)

    2) why would that be a good thing? if they have no revenue, they will go out of business. or put up their charges significantly. neither of which would be good for their customers.

    in any case, most investments platforms charge nothing to add cash to your account. and personally, i try to pay no more than 0.25% in dealing commission. which makes the total cost of adding cash and then investing it no more than 0.25% . so 0.7%-3.5% doesn't even look cheap to me.

    Yon spread-betting bookie has a lean and hungry look. Let me have around me brokers who are fat. [Julius Caesar act I scene ii]
    Originally posted by Malthusian
    JC would use HL
    • Malthusian
    • By Malthusian 17th Aug 17, 11:32 AM
    • 3,320 Posts
    • 5,060 Thanks
    Malthusian
    JC would use HL
    Originally posted by grey gym sock
    As do I. A few years ago I was considering transferring my investments to the stockbroker equivalent of Cassius and am very glad I didn't.

    For purchasing shares a 3.5% initial charge is obscene. (If that's what they charge - the charges page isn't clear on when it's 0.7% and when it's 3.5% and I'm not interested enough to go digging. Even 0.7% is too much to pay for a portfolio of any size.) As it's a spread-betting bookmaker, most of Trading212's customers will be expecting to lose all or most of their money so an initial charge is largely irrelevant to them. But if you want a portfolio of shares it's far too high.
    • Jake85
    • By Jake85 17th Aug 17, 5:44 PM
    • 4 Posts
    • 0 Thanks
    Jake85
    so you're saying that none of the 0.7%-3.5% fees for adding money to a trading212 account ends up going to trading212, even indirectly (e.g. via commissions).

    1) how do you know? (do you work for them?)

    2) why would that be a good thing? if they have no revenue, they will go out of business. or put up their charges significantly. neither of which would be good for their customers.

    in any case, most investments platforms charge nothing to add cash to your account. and personally, i try to pay no more than 0.25% in dealing commission. which makes the total cost of adding cash and then investing it no more than 0.25% . so 0.7%-3.5% doesn't even look cheap to me.
    JC would use HL
    Originally posted by grey gym sock
    1) No, it's a common sense thing. The payment is processed by a third party company which charges for the service. Every business offering online payments works like that.

    2) Who says they don't make money off it? The commission free deals with stocks are limited to 10 per month and are up to a certain amount. They also provide forex and cfds, which are traded on margin and the broker takes the spread.
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