Does anyone else use Trading 212 for their S&S ISA?

dllive

Hi

Each year I invest my ISA allowance in passive index funds on the Vanguard platform. At the end of each tax year I then transfer these over to my iWeb account to store them. (there is zero platform fees on iWeb!)

For a bit of fun I thought Id try a different trading platform. Perhaps Trading212.

- Are there trading fees within an ISA?

- Are there platform fees?

- Would I be better off just doing what Im doing now?

What got me thinking about this was this video where the host talks about creating your own version of Vanguard LifeStrategy fund on the Trading 212 platform https://youtu.be/AX0wYiqzl18?si=HcTz8IhjcoZgEWp-&t=963

Thanks

Aidanmc

Trading212 only has stocks and ETF's at present

They do ISA though, and you could make a portfolio to your requirements using ETF's

No platform fees or trading fees as far as im aware.

Im thinking of using them also

dllive

Thanks @Aidanmc . Thats a shame it only has ETF's at the moment, it means I cant transfer my 23/24 ISA into it. However, unless Im mistaken, I can click on the referral link in the video description and get £100. PLUS I can get 1% cashback on my £20k ISA deposit (£200) PLUS I get 5.2% interest on any cash I hold in my ISA. (thats better than any fix cash ISA rate I can see anywhere!!).

Moving forwards, as you say, theres no platform fees or trading fees within the ISA!

The only fee I need to be mindful to avoid is their forex fee, but I dont think this will apply to any of the funds within this mix https://www.trading212.com/pies/l7rG716ZJqLWY5phzozz3stZbScr

Am I correct in the above? If so then its a no-brainer! 

Aidanmc

dllive said:

Thanks @Aidanmc . Thats a shame it only has ETF's at the moment, it means I cant transfer my 23/24 ISA into it. However, unless Im mistaken, I can click on the referral link in the video description and get £100. PLUS I can get 1% cashback on my £20k ISA deposit (£200) PLUS I get 5.2% interest on any cash I hold in my ISA. (thats better than any fix cash ISA rate I can see anywhere!!).

Moving forwards, as you say, theres no platform fees or trading fees within the ISA!

The only fee I need to be mindful to avoid is their forex fee, but I dont think this will apply to any of the funds within this mix https://www.trading212.com/pies/l7rG716ZJqLWY5phzozz3stZbScr

Am I correct in the above? If so then its a no-brainer! 

Those ETF's within that pie are all traded in GBP, so no forex fees to consider.

I'm just wondering what the difference would be in a single All world equity ETF and this 100% equity pie.

You don't get £100 for joining T212 using a referral, you get a free fractional share which could be value up to £100,

most likely will be less.

Yes, you can get 1% cashback (locked in for 1yr) on 24/25 Isa deposits.

To get the 5.2% interest on ISA cash balance, you must agree to your cash been invested in QMMF's

As far as i understand there in no FSCS protection,

I think Ramin made a video about Money Market Funds also,

dllive

Ah thanks. I missed the fact about needing to be in QMMFs in order to earn the interest. I dont think this is so much of a concern because (thanks to Ramin's video!) I already invest a bit in MMFs, so I know its quite low risk. Also, I dont envisage having much cash sitting about as I usual just make regular monthly payments.
Thanks! 

gravel_2

There's some odds for free share shown on this page:
https://helpcentre.trading212.com/hc/en-us/articles/360007291258-Invite-Your-Friends-Get-Free-Fractional-Shares

surreysaver

I was looking at Trading 212. I asked them how to do a partial transfer from an existing ISA, as their online form only allows you to do it from certain providers.  

After a few days, someone with a jokey job title of 'Customer Service Hero' emailed me back basically saying they didn't know and would get back to me. About a week later I got emailed a form.

Needless to say, I'm giving them the swerve

bluebottle11

I have a T212 s&s ISA and find them pretty good generally. I have an ISA with Halifax too which I use as my slow and steady one, investing in Vanguard 80% and S+P tracker. I use the T212 account as my more risky individual share investing platform. The only thing I do struggle with is setting up reinvesting dividends on T212 as you have to make sure the investment is in a pie first for some reason. Transferred cash from my Halifax account to the T212 account for the 5% interest and all went smoothly. 

dllive

bluebottle11 said:

I have a T212 s&s ISA and find them pretty good generally. I have an ISA with Halifax too which I use as my slow and steady one, investing in Vanguard 80% and S+P tracker. I use the T212 account as my more risky individual share investing platform. The only thing I do struggle with is setting up reinvesting dividends on T212 as you have to make sure the investment is in a pie first for some reason. Transferred cash from my Halifax account to the T212 account for the 5% interest and all went smoothly. 

I have individual shares held within my Hargreaves account. Do you know how T212's fees compare with Hargreaves? Ive had my Hargreaves account for so many years that I feel its time to give another platform a go. I feel like Hargreaves is very expensive, but I cant say for sure.

bluebottle11

There's no charge for trading shares on T212, though believe there is a small 0.15% forex charge for non UK shares. Halifax is £35 flat fee per year for the isa, £9.50 dealing fee, though they have one offer afternoon per month for £3.50. No charge for regular investments.

surreysaver

bluebottle11 said:

There's no charge for trading shares on T212, though believe there is a small 0.15% forex charge for non UK shares. Halifax is £35 flat fee per year for the isa, £9.50 dealing fee, though they have one offer afternoon per month for £3.50. No charge for regular investments.

And you can make a one-off regular investment