Is Trading 212 free for stocks and shares?

w00519773

My one year fixed rate cash ISA recently ended with Santander.  I have looked here for the best rate cash ISA: Best cash ISAs: up to 5.2% easy access, up to 4.96% fixed - MSE (moneysavingexpert.com).  Trading 212 seems to be the best easy access rate (I am planning to use the money this year).

I have done some research into Trading 212 and they appear to suggest it is free to buy and own shares (I found Trading 212 due to their cash ISA rate, but I am now intrigued about the stocks and shares ISA - feels like a trap), which is much better than what my current stocks and shares ISA provider provides.  At first I thought they must do this my offering Contract for Difference (CFDs) investments, however this doesn't appear to be the case.  

As explained here; the shares seem to be stored in an omnibus account with Interactive Brokers: Do I own my shares? – Trading 212 (expand "where are my shares held").  I have looked into Interactive Brokers and I know they do charge for buying and selling stocks and shares.

Please note I am asking about buying and selling stocks specifically.  Is it free as stated here? Trading terms for Invest accounts (trading212.com).  It seems too good to be true.  If Trading 212 went into administration then would I be covered up to £85K as per the FSCS? Is it too good to be true? I have read other posts on here about Trading 212, but I have not found my answer.

gravel_2

It's free. T212 makes most of their money through the CFD arm which is an optional feature available to users.

wmb194

w00519773 said:

My one year fixed rate cash ISA recently ended with Santander.  I have looked here for the best rate cash ISA: Best cash ISAs: up to 5.2% easy access, up to 4.96% fixed - MSE (moneysavingexpert.com).  Trading 212 seems to be the best easy access rate (I am planning to use the money this year).

I have done some research into Trading 212 and they appear to suggest it is free to buy and own shares (I found Trading 212 due to their cash ISA rate, but I am now intrigued about the stocks and shares ISA - feels like a trap), which is much better than what my current stocks and shares ISA provider provides.  At first I thought they must do this my offering Contract for Difference (CFDs) investments, however this doesn't appear to be the case.  

As explained here; the shares seem to be stored in an omnibus account with Interactive Brokers: Do I own my shares? – Trading 212 (expand "where are my shares held").  I have looked into Interactive Brokers and I know they do charge for buying and selling stocks and shares.

Please note I am asking about buying and selling stocks specifically.  Is it free as stated here? Trading terms for Invest accounts (trading212.com).  It seems too good to be true.  If Trading 212 went into administration then would I be covered up to £85K as per the FSCS? Is it too good to be true? I have read other posts on here about Trading 212, but I have not found my answer.

It's very straightforward. No commission or custody fees but if relevant you pay FX fees and stamp duty/FTT. I've been using it quite a bit and I like it.

IIRC I read in one of its annual reports on Companies House that it eventually plans to introduce a 'freemium' model that I'm guessing will be similar Freetrade's and CMC Invest's but we're not there yet.

Edit: Yes, covered by the FSCS in the usual way brokers are. https://www.trading212.com/money-protection

https://www.trading212.com/terms/invest