Trading212 is the worst investing platform know to man and should be fined.

CreditCardChris

Everyday at US market open the platform goes down, for at least 30 mins but sometimes upwards of an hour... Seriously how the hell can a financial institution get away with such negligence? They literally have peoples life savings on their platform and if people want to sell (or buy) they physically can't because the platform isn't working? 

This doesn't just happen once or twice, it's happened 3 days in a row and has happened several times before. I have filed a complaint with the Financial Ombudsman but I doubt my one complaint will do anything... I don't know who to blame more, Trading212 for their appalling service or the FCA for turning a blind eye to it? This isn't just any old social media platform or a messaging app, it's a regulated financial platform with peoples money on the line.

I hope someone launches a class action lawsuit against them.

Thrugelmir

Use a proper platform instead.  You get what you pay for. 

VXman

I use them. It's clearly ok for those who want to do some free trading and aren't bothered by timescales but if I was thinking in terms of minutes I'd be going somewhere else. You get what you pay for.

CreditCardChris

Thrugelmir said:

Use a proper platform instead.  You get what you pay for. 

This really isn't the point. If a regulated financial institution cannot even offer the basic service of allowing their customers to sell (or buy) this poses a financial risk to said customers... We're not talking about items of clothing or food, they have a duty of responsibility to their customers and one of those duties is to allow people to buy and sell when they want / need to. 

Thrugelmir

No different to trying to buy tickets to Glastonbury. The servers can only cope with so much trading activity at a time. Somewhat different to betting sites which many appear to be using the free stock market trading apps for. Vast difference between investing and speculating. 

stephenadarglas

The next time the markets go into freefall you'll be glad you went elsewhere if your intention would be to cut losses.  Just a suggestion.

jamei305

My nearest bank branch at which I can pay in cash, a basic banking service, is 30 minutes away from my house.

CreditCardChris

stephenadarglas said:

The next time the markets go into freefall you'll be glad you went elsewhere if your intention would be to cut losses.  Just a suggestion.

Actually I was planning on buying... But couldn't. 
But if I did want to sell I wouldn't have been able to. This is the point.

dunstonh

Financial services is not really much different to other retail and services.   Cheap can often mean lower quality.  But expensive doesn't necessarily mean better quality.  However, there is a big difference in terms of quality of service and their offerings over the market place.   The marketplace is strong and if you do not like their service then you have plenty of choice.

grumiofoundation

CreditCardChris said:

Everyday at US market open the platform goes down, for at least 30 mins but sometimes upwards of an hour... Seriously how the hell can a financial institution get away with such negligence? They literally have peoples life savings on their platform and if people want to sell (or buy) they physically can't because the platform isn't working? 

This doesn't just happen once or twice, it's happened 3 days in a row and has happened several times before. I have filed a complaint with the Financial Ombudsman but I doubt my one complaint will do anything... I don't know who to blame more, Trading212 for their appalling service or the FCA for turning a blind eye to it? This isn't just any old social media platform or a messaging app, it's a regulated financial platform with peoples money on the line.

I hope someone launches a class action lawsuit against them.

If someone has actually invested their life savings via trading212 and need to sell urgently I would think they are living a rather risky lifestyle (for a number of reasons). 

If it happens regularly why are people still using it? 

Malthusian

If Trading212 didn't go down at regular intervals you wouldn't be able to tell your mates down the Reddit "I was totally going to become a millionaire with trading but thanks to Trading212 I missed out on the opportunity of a lifetime" when explaining why you still work for the Co-op.

If you were actually going to get rich quick by day-trading, and were good enough at spotting opportunities that being able to invest at exactly the right half-hour mattered, you would use a proper platform for trading professionals. The added cost would be trivial next to your returns. Gotta spend money to make money brah.

It's like claiming that the reason you didn't make it as a plumber was because your Fisher-Price rubber toolkit wasn't up to the job.