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ISA - Stocks and Shares

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  • slenderkitten
    slenderkitten Posts: 1,121 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Anyone that uses Trading212 - is there a guide i could use or videos to help me understand how to use the platform please?
    My Signature is MY OWN!!
  • Beddie
    Beddie Posts: 1,007 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Anyone that uses Trading212 - is there a guide i could use or videos to help me understand how to use the platform please?
    There are probably youtube videos showing you what to do. However it's very simple, for the ISA anyway. Add money. Use the search facility to find the share or ETF you want to buy. Click on it and enter the amount, then Buy and it is done. Takes about 30 seconds.

    Are you stuck on something?
  • Beddie
    Beddie Posts: 1,007 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Petriix said:
    Petriix said:
    Knowing nothing about buying shares, I've just opened a Stocks and Shares ISA with Trading 212. I got a free random share worth £44 by using a referral link. They give 1% cashback (which you can't withdraw for a year) on any ISA deposits and pay 5.2% variable interest on anything held as cash. They also seem to charge no commission on any trades.

    I'm sure more experienced people can tell you the potential down sides, but this seems pretty decent in comparison to other platforms. 
    That sounds interesting but how are they not charging fees as you say, how are they making money? Are they a legit company?
    Yes they are legit.
    They will lose money gaining market share, and then either start to introduce charges for premium service, or get bought out for the customer base. ( especially if they still losing money after a couple of years)
    Also they have a larger part of their business which is trading in CFD's. This is more profitable and much more risky for the punter ( it is just gambling really).
    I suspect by getting customers for ISA's, they hope to tempt then into the CFD side.
    I looked on trustpilot some people saying the company makes it difficult to move the money elsewhere, this puts me off, what do you think about this?
    I'm not sure about transfers, but withdrawing cash seems pretty standard. I've just asked for a £1 withdrawal to my linked account and it says it will take 3 working days to arrive. 
    I've responded to your invite in PM, thought I would add this here,  why do they get bad reviews https://www.mywot.com/scorecard/trading212.com I have to admit it is alarming, thought from what i have read so far they seem to have invested huge amounts which I wouldn't be doing.
    Read that link and you can see the one star reviews are scammers, trying to get you to go to them for help! Disregard it.
  • Petriix
    Petriix Posts: 2,294 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Philosophical question:

    Suppose I wasn't going to use my ISA allowance otherwise... Would there be any issues say depositing £500 each month after payday then withdrawing it again? I could accumulate the cashback and earn a bit of interest without retaining the investment. 
  • Petriix
    Petriix Posts: 2,294 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Petriix said:
    Philosophical question:

    Suppose I wasn't going to use my ISA allowance otherwise... Would there be any issues say depositing £500 each month after payday then withdrawing it again? I could accumulate the cashback and earn a bit of interest without retaining the investment. 
    In answer to my own question: I just did an experiment and transferred £10 from my ISA to the Invest account and back. It was instant and generated 10p cashback. I wonder if it would flag up if I transferred the same £500 18 more times to max out the cashback... 
  • slinger2
    slinger2 Posts: 974 Forumite
    500 Posts First Anniversary Name Dropper
    Petriix said:
    Petriix said:
    Philosophical question:

    Suppose I wasn't going to use my ISA allowance otherwise... Would there be any issues say depositing £500 each month after payday then withdrawing it again? I could accumulate the cashback and earn a bit of interest without retaining the investment. 
    In answer to my own question: I just did an experiment and transferred £10 from my ISA to the Invest account and back. It was instant and generated 10p cashback. I wonder if it would flag up if I transferred the same £500 18 more times to max out the cashback... 
    The problem is that I think the Trading212 ISA is not flexible. So by paying in and then withdrawing, you've used up £10 of your £20k allowance.
  • slenderkitten
    slenderkitten Posts: 1,121 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Petriix said:
    Petriix said:
    Philosophical question:

    Suppose I wasn't going to use my ISA allowance otherwise... Would there be any issues say depositing £500 each month after payday then withdrawing it again? I could accumulate the cashback and earn a bit of interest without retaining the investment. 
    In answer to my own question: I just did an experiment and transferred £10 from my ISA to the Invest account and back. It was instant and generated 10p cashback. I wonder if it would flag up if I transferred the same £500 18 more times to max out the cashback... 
    Like the other person said you will use up your £20k allowance if you choose to do this.
    My Signature is MY OWN!!
  • Petriix
    Petriix Posts: 2,294 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Petriix said:
    Petriix said:
    Philosophical question:

    Suppose I wasn't going to use my ISA allowance otherwise... Would there be any issues say depositing £500 each month after payday then withdrawing it again? I could accumulate the cashback and earn a bit of interest without retaining the investment. 
    In answer to my own question: I just did an experiment and transferred £10 from my ISA to the Invest account and back. It was instant and generated 10p cashback. I wonder if it would flag up if I transferred the same £500 18 more times to max out the cashback... 
    Like the other person said you will use up your £20k allowance if you choose to do this.
    Yes, that's right. Only useful for people who weren't otherwise going to use it up. Maxing out the £200 cashback seems like a good plan. 
  • slenderkitten
    slenderkitten Posts: 1,121 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I've been looking around YouTube and online people saying  Vanguard S&P 500  is a good one to invest in when I look on Trading 212 app (I'm brand new to all of this so don't understand terminology yet), there appear to be several of them, any help so I know which one i should be looking at here?
    My Signature is MY OWN!!
  • dunstonh
    dunstonh Posts: 119,571 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I've been looking around YouTube and online people saying  Vanguard S&P 500  is a good one to invest in
    As part of your US equity allocation, then its not a bad option.  However, that is just one part of the jigsaw.  If you are going to use single sector funds, then you need a fund for each country or region.  e.g. UK equity, Europe, Japan, Asia, emerging markets etc.

    Maybe you should stop looking at youtube as it appears to be sending you down the wrong route as you acknowledge you are not an experienced investor.


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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