trading 212

tiger135

i would like to invest small amounts regularly and choose which companies, just wondered if t212 is a good platform to begin with?

Beddie

Yes, it is.

Bridlington1

Just be aware though that they often do a refer a friend offer (currently running) in which they'll give both you and your friend a free share between £10-£100 if you open an account with them and deposit £1 or more. If you know anyone with a trading 212 account it may be worth getting them to refer you if possible as it's a nice little bonus. Note you can not use this forum to request/exchange referral links.

NorthernJoe

I use it for the "fun" part of my investments (vast majority is in funds with major platforms). 

For individual shares, Trading 212 is very quick and easy. App is very accessible/user friendly. Good luck 

mattywallace121

Freetrade is another viable option.

wmb194

tiger135 said:

i would like to invest small amounts regularly and choose which companies, just wondered if t212 is a good platform to begin with?

Which or what types of companies? With Trading212 I've found that with large and popular smaller companies, ITs and ETFs i.e. those that are well traded both here and abroad trades are settled almost instantly and you'll pay or receive what you'll see on the live data feeds. Less liquid or popular companies and ETFs can either take forever or actually never at all... I think it's to do with it trying to make its own market with its customers before going out to the exchanges. Its FX fee of 0.15% is very competitive.

With other free brokers my experience with Freetrade and CMC Markets is that trades will be executed immediately whatever the size of the company/ETF.

tiger135

sounds good ill give it a go

Alex9384

wmb194 said:

Which or what types of companies? With Trading212 I've found that with large and popular smaller companies, ITs and ETFs i.e. those that are well traded both here and abroad trades are settled almost instantly and you'll pay or receive what you'll see on the live data feeds. Less liquid or popular companies and ETFs can either take forever or actually never at all... I think it's to do with it trying to make its own market with its customers before going out to the exchanges. Its FX fee of 0.15% is very competitive.

With other free brokers my experience with Freetrade and CMC Markets is that trades will be executed immediately whatever the size of the company/ETF.

Hi mate.

Perhaps I don't need to start a new thread for this, I just wanted to ask what are the tax implications of having more than one brokerage account in the UK? I've read on the US forum that they need to file a separate tax return for each broker they use. Does it work differently in the UK?

I opened Trading 212 just a week ago and I'm wondering if I should open at least one more account elsewhere.

wmb194

Alex9384 said:

wmb194 said:

Which or what types of companies? With Trading212 I've found that with large and popular smaller companies, ITs and ETFs i.e. those that are well traded both here and abroad trades are settled almost instantly and you'll pay or receive what you'll see on the live data feeds. Less liquid or popular companies and ETFs can either take forever or actually never at all... I think it's to do with it trying to make its own market with its customers before going out to the exchanges. Its FX fee of 0.15% is very competitive.

With other free brokers my experience with Freetrade and CMC Markets is that trades will be executed immediately whatever the size of the company/ETF.

Hi mate.

Perhaps I don't need to start a new thread for this, I just wanted to ask what are the tax implications of having more than one brokerage account in the UK? I've read on the US forum that they need to file a separate tax return for each broker they use. Does it work differently in the UK?

I opened Trading 212 just a week ago and I'm wondering if I should open at least one more account elsewhere.

That sounds weird; No, you just lump everything together and put it on the same tax return. 

You have to be cognisant of the section 104 pooling rule for capital gains e.g., if you own shares in the same company with multiple brokers you need to treat them for CGT as one pool, not individually per broker. Particularly for partial disposals, the easiest way to avoid this potential headache is not to hold the same security simultaneously with multiple brokers or if you do try to make use of Isas.

Using multiple brokers might increase the risk of breaching the bed and breakfasting 30 day rule.

The more brokers you have the more important it becomes to keep good records.

Dird

Alex9384 said:

I opened Trading 212 just a week ago and I'm wondering if I should open at least one more account elsewhere.

Unless you're investing a lot quickly then it's not really needed to open multiple unless you just want to collect the free shares on sign up; in that case I'd open freetrade & InvestEngine and just add the minimum required to get the free share/sign up cash. T212 has FCFS protection up to 85k so you could just keep using it as your main up until getting near that limit; it's better than those other 2 mentioned anyway

Alex9384

wmb194 said:

That sounds weird; No, you just lump everything together and put it on the same tax return. 

You have to be cognisant of the section 104 pooling rule for capital gains e.g., if you own shares in the same company with multiple brokers you need to treat them for CGT as one pool, not individually per broker. Particularly for partial disposals, the easiest way to avoid this potential headache is not to hold the same security simultaneously with multiple brokers or if you do try to make use of Isas.

Using multiple brokers might increase the risk of breaching the bed and breakfasting 30 day rule.

The more brokers you have the more important it becomes to keep good records.

Thanks. Good to know. I quickly checked the section 104 and it mentions "same class" rather than same security. Does that mean the same asset class? That would mean any stock, as far as I understand it.

I see I still need to learn many things, such as the bed and breakfasting 30 day rule, although I'm not planning to buy and sell stock or ETFs in a short period. But who knows...