Trading212

romeshw

EdGasketTheSecond wrote: »

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.

I deposit using bank transfer, which does take a couple of days, but there is 0% charge.

molyneux1000

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

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

Well done on only loosing £81 you escaped lightly with your clothes, teeth and dignity.

stphnstevey

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

stphnstevey wrote: »

Can you use them to buy ETFs and then transfer them to another (maybe more trusted) platform?

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

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!

stphnstevey

Before someone moans this is a year old thread! a search brings up this one as the one most discussing this platform

I haven't followed in too much depth, but some important points that seem to have changed are:
- unlimited free commission trades
- no currency conversion charge
- ISA account possible

Finding the exact fees has not been the easiest, so the above is as accurate as I can glean, feel free (as everyone always does) to correct as needed. Location of one page fee schedule would be nice if found?

Han_naH

I really must update the public here with my experience at T212.


Looking at charges, zero commission trading etc is taking your eye off the ball.


By that I mean the safety of your cash. When I tried to withdraw, my request was deleted, then ignored. No phone support so I tried the chat system - 64 in the queue. It took me in total several weeks to return my money.


If you're not familiar with the sinking feeling when you can't get through to anyone and your cash might not be seen for a while, if at all, then by all means try it.


Using the platform, T212 try to make CFDs and actual stocks indistinguishable. The former is on margin, and risky.


They are not a buy & hold and collect the dividends type of platform. It is all about making more trades. Look closely at the spread, as this is where they make a fee in the zero commission world. The spread, on occasion, was extreme.


I might add that they didn't even pay my dividends until I raised it, and belatedly they caught up. Who knows how many people were not paid.


In short, choose a platform which is big and established. You won't have these issue with HL. Personally I would recommend X-O.co.uk for a very simple & neat platform with the lowest fees.

jamels2

Thanks for the advice on t212... I've been put off this one reading this thread. Is etoro or freetrade any better?