CMC GIA £50 bonus until 30 April 2023

TheBanker

ForumUser7 said:

TheBanker said:

ForumUser7 said:

Yep, seems quite generous of them! I’m going to look into the Wealthify offer tomorrow too - my only concern with that one is the bonus isn’t FSCS covered, but I guess given they are part of Aviva, it may all be fine

I wouldn't worry about FSCS cover but there is more of a chance of loss with these offers due to the need to invest. 

I believe the bonus on the wealthily offer is only paid after 12 months, I meant if wealthily was to go out of business in the meantime, the bonus would be lost - according to the MSE article.

If wealthily don't go under, all should be fine though - I plan to use the first offer, put £50 in and select their most cautious option, and then withdraw it after 12 months along with my bonus.

You are right - the bonus is paid out after 12 months. But if you are concerned about losing £50 of free money due to Aviva going bust, then I don't think you should place £50 of your own money in an investment that could lose money - even the most cautious fund. In 2022 the Cautious plan lost 11% of its value. 

ForumUser7

TheBanker said:

ForumUser7 said:

TheBanker said:

ForumUser7 said:

Yep, seems quite generous of them! I’m going to look into the Wealthify offer tomorrow too - my only concern with that one is the bonus isn’t FSCS covered, but I guess given they are part of Aviva, it may all be fine

I wouldn't worry about FSCS cover but there is more of a chance of loss with these offers due to the need to invest. 

I believe the bonus on the wealthily offer is only paid after 12 months, I meant if wealthily was to go out of business in the meantime, the bonus would be lost - according to the MSE article.

If wealthily don't go under, all should be fine though - I plan to use the first offer, put £50 in and select their most cautious option, and then withdraw it after 12 months along with my bonus.

In 2022 the Cautious plan lost 11% of its value. 

That's really helpful to know, thank you.

I could only find the 2020 performance online, have you got a link for the 2022 performance please?

TheBanker

ForumUser7 said:

TheBanker said:

ForumUser7 said:

TheBanker said:

ForumUser7 said:

Yep, seems quite generous of them! I’m going to look into the Wealthify offer tomorrow too - my only concern with that one is the bonus isn’t FSCS covered, but I guess given they are part of Aviva, it may all be fine

I wouldn't worry about FSCS cover but there is more of a chance of loss with these offers due to the need to invest. 

I believe the bonus on the wealthily offer is only paid after 12 months, I meant if wealthily was to go out of business in the meantime, the bonus would be lost - according to the MSE article.

If wealthily don't go under, all should be fine though - I plan to use the first offer, put £50 in and select their most cautious option, and then withdraw it after 12 months along with my bonus.

In 2022 the Cautious plan lost 11% of its value. 

That's really helpful to know, thank you.

I could only find the 2020 performance online, have you got a link for the 2022 performance please?

Bottom of this page: https://www.wealthify.com/why-invest/how-we-invest

Millyonare

Good spot on the CMC £50 bonus offer. Kudos to the OP.

Paid in £50 last Fri. The £50 bonus paid out Weds. A +100% return in 3 working days.

CMC app and service (so far) are excellent. Very easy to use, simple, reliable, fast.

Initial calculations suggest CMC fees are (currently) fairly competitive for trading FTSE100 stocks at a lower level below £5-10k per trade. For larger sums above that, somewhere like iWeb comes in cheaper.

Overall, impressed. Recommended.

ForumUser7

I applied late on Thursday and paid in straight away, bonus credited this morning.

Same experience as @millyonare - their service has been really good, and their app seems pretty good too.

I'll withdraw my original £50, and then leave the £50 bonus in there as cash, which I'll withdraw after 90 days. I think (if accounts can be left open at £0.01), I'll leave mine open in case I have any future investing needs

PloughmansLunch

I was going to extract my bonus next week after the 90 days had elapsed, but I noticed a particular high street bank stock with acceptable dividend % on my watchlist is the lowest it's been for some time so I effectively bought in at half price, and am now more than £1.50 up in less than 15mins. At this rate I might start eyeing up a stripey shirt and a pair of red braces, but will stick to a Hotwheels™ Porsche for now.

flopsy1973

https://forums.moneysavingexpert.com/discussion/comment/80029264#Comment_80029264

Out of interest which bank was that

Middle_of_the_Road

Applied  Sat. Thurs. 27th April, bonus paid today. Not bad for weekend + bank hol.

Invested 48.83 +25p stamp duty = 49.08 
Now £48.88
Cash 50.92

Will leave the bonus as cash to withdraw after 90 days and let the stock ride. Thanks again both OPs

PloughmansLunch

flopsy1973 said:

Out of interest which bank was that

Lloyds, although it's even lower now so I think I'll put my filofax out to pasture.

Millyonare

When one can get 5-7% risk-free today from a bog-standard savings account, the 5% dividend from a risky Lloyds share gamble doesn't look particularly attractive (or logical).