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    • teekay_tk
    • By teekay_tk 22nd Mar 16, 8:08 AM
    • 38Posts
    • 15Thanks
    • #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.

Page 2
    • grey gym sock
    • By grey gym sock 17th Aug 17, 9:36 PM
    • 4,208 Posts
    • 3,722 Thanks
    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.
    Originally posted by Jake85
    but are trading212 adding a markup to those third-party charges? (i don't know, but what's to stop them?)

    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.
    the main point is: are they making money off the service of actual share trading? because if they only make money from other services, not that 1, why would they go on offering it.

    it's true that, with most share brokers, the more active traders are probably subsidizing the infrequent traders a bit. however, charging no commission at all for the first 10 trades per month makes this cross-subsidy more extreme. so more reason to doubt it's sustainable. most very frequent traders are likely to be mugs (i.e. losing money), so how long will they keep going?

    however, regardless of the answers to those questions, trading212 is simply too expensive a way to invest in shares, when you consider all the charges. i'm intrigued by your choice to keep coming back to this forum to defend them (and not to post on any other topic).
    • romeshw
    • By romeshw 19th Aug 17, 3:27 PM
    • 18 Posts
    • 6 Thanks
    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
    I deposit using bank transfer, which does take a couple of days, but there is 0% charge.
    • molyneux1000
    • By molyneux1000 3rd Sep 17, 6:36 PM
    • 2 Posts
    • 1 Thanks
    Yes, I also use Trading 212 and fund the account through bank transfer which incurs zero fee.

    I had been using IG which was charging £8/trade.
    • Wave Rider
    • By Wave Rider 1st Dec 17, 3:35 PM
    • 1 Posts
    • 0 Thanks
    Wave Rider
    Don't be the next one born every minute.
    A cautionary tale of joining Trading 212...
    After spending several weeks learning about CFD's and working with 212's practice account I took the plunge and opened an account.
    I had made some fantastic gains on the practice account using Bitcoin as my instrument and riding a wave of almost continual growth.
    However, when I opened my account with the same amount as the practice account, £10,000 (they charged £81 for the privilege!) I found out the the rules for Bitcoin were so different when using a real account I was unable to buy a single coin let alone 4 as the practice account allowed. This is in part due to the difference in margins required practice 6%, real 100%.
    So my sole purpose for enrolling was not available and not wishing to play against such heavily loaded dice I withdrew my £10,000. net effect down £81.
    The lesson here is that you cannot judge your performance on their training account in any way will be the same as on the "real money" account.
    • Alexland
    • By Alexland 1st Dec 17, 8:07 PM
    • 1,971 Posts
    • 1,391 Thanks
    Well done on only loosing £81 you escaped lightly with your clothes, teeth and dignity.
    • stphnstevey
    • By stphnstevey 4th Mar 18, 9:43 AM
    • 2,746 Posts
    • 450 Thanks
    Can you use them to buy ETFs and then transfer them to another (maybe more trusted) platform?

    They appear to be FCA regulated, does that mean they have the £50k securities protection?
    • bowlhead99
    • By bowlhead99 4th Mar 18, 10:37 AM
    • 7,475 Posts
    • 13,563 Thanks
    Can you use them to buy ETFs and then transfer them to another (maybe more trusted) platform?
    Originally posted by stphnstevey
    a) No

    b) If you consider them to be less trustworthy why would you want to send them your money to buy assets on an exchange with a plan to have them hopefully safely transfer those assets to a more trustworthy person? If you are concerned about lack of trust / credibility and would not want to use them to hold your assets, don't send them your several thousands of pounds just to save a few pounds per trade on an ETF purchase.
    • inflationbuster
    • By inflationbuster 4th Mar 18, 4:57 PM
    • 153 Posts
    • 41 Thanks
    Zero Commission applies up to 10 trades per month to a maximum value of £10,000 each.
    £10K is peanuts. Let me give you an example of a trade i've done do in my ISA (formatted for CGT Calculator).

    S 21/09/2017 BP. 8499 4.57049 5 0.00 1
    B 16/08/2017 BP. 8499 4.455 5 189.32 1

    That's 4 free trades gone to get the equivalent trade LOL ! That trade costs me £5 which in the grand scheme of things is peanuts.

    I'm happy to pay that for a platform that's robust, well established and operated by Halifax.

    Trading212 don't seem to have an ISA nor support DRIP well l can't find this on their website. If you're new to investing getting an ISA is a no-brainer the amount of tax you'll save over 10 years really adds up.

    If you're a serious investor looking to build a six figure portfolio over time you'll be looking at well established platforms.

    Look beyond the cost of buying/selling a share!
    Last edited by inflationbuster; 04-03-2018 at 5:05 PM.
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