X-O (Jarvis) online platform to close in the summer

ali1947fish

interactive investor has a flat fee for platform charges, transaction per share is only 3.99 compared to 5.95 every time you buy or sell on xo. jarvis- i have dscvovered this only today and i am happy with this

sjw1

ali1947fish said:

interactive investor has a flat fee for platform charges, transaction per share is only 3.99 compared to 5.95 every time you buy or sell on xo. jarvis- i have dscvovered this only today and i am happy with this

There is also a monthly fee too?

miller

Notepad_Phil said:

Was looking on the iweb and HL platforms on how to do a ISA transfer and on both platforms it appears that x-o does not exist if you attempt to use that as the provider/ISA Manager on their online transfer forms but Jarvis does.

As x-o is just a brand name of Jarvis I assumed Jarvis was the right thing to put, but when I rang up HL yesterday they were unsure and suggested that I put x-o, so I wondered what other people have put down.

Jarvis Investment Management (then it comes up with the Tunbridge Wells address). I've just had an Adobe Acrobat sign form sent with Lloyds' branding for the transfer that I was able to sign electronically (after answering the questions on the web form I'd already answered again). This route seems to work.

miller

dales1 said:

miller said:

sjw1 said:

Just signed up to iWeb and about to start the transfer process and I get this message:

This is 'normal' yes - but I assume will delay the process a little?

In my Jarvis account it lists the shares I have - with a 'bought' price too.  I assume this is to 'help' if CGT etc. is relevant.  Is this information transferred across to iWeb too?

The form then states they'll send it to you via email if they have one on record or post if not. Then 2 options are given, print or send. I selected send and didn't get an email. Perhaps print would have been the better option.

Likewise. I'm still waiting to see if it arrives in the post - and if so, I'll have to Post it back.

I suspect that, to receive an email form to email back, I should have pressed Confirm without selecting either of the Alternative options.

As just mentioned, I've had an Adobe Acrobat sign form through today. They sent me an email alerting me, then authenticated via a text message. Electronically signed so hopefully that should start the ball rolling. Jarvis have also acknowledged my email asking not to migrate me and without asking confirmed fees will be waived.

filbert1884

mark1222 said:

What to consider:-

(1) Do not dismiss Interactive broker I find them great no charge on fund holding and a monthly free trade, just that monthly fee to consider.

(2) Iweb, again very pleased and if you trade little this is probably your best bet.

(3) Interactive Brokers not to be confused with Interactive Investor, now this is at first glance is complex looking but it does have many benefits (after hours trading is one) downside no funds BUT as well as UK shares it offers thousands of oversea shares and the currency exchange rate is the spot rate no dubious currency fees (unlike all the rest). They have also just started Isa's.

(4) Avoid trading 212 they may seem cheap but they lend out your shares and make the money on your buy and selling prices by giving you a poorer rate, I pulled this from the web but it confirms my suspicions:-

"Trading 212 primarily generates revenue through currency conversion fees and the spreads charged on its Contracts for Difference (CFDs) and shares. They also earn revenue from share lending and overnight interest on cash balances".

(5) Avoid AJ and Hargreaves I dislike their fee structure of charging more "the more" you own.

(6) Degiro also used to also lend your shares out.

This post (point 4) is very misleading in my opinion.

"Avoid trading 212 they may seem cheap but they lend out your shares" - yes, but only if you choose to allow it, and you don't have to! Also, this is only possible if you hold shares in a General Investment Account (GIA), not in a Stocks & Shares ISA, and lastly only shares where there is a demand are lent (again if you choose to allow it). If you do own shares where there is a demand, and you choose to lend them, you get paid for that, and there is no risk that you will lose those shares or anything.

"make the money on your buy and selling prices by giving you a poorer rate" - poorer rate on what? Poorer compared to who? As with other investment platofrms, every stock has a price, and there is a bid-offer spread, Trading 212 is no different, so I'm really not sure what you are referring to here. Not forgetting there is 0 cost to buy and sell shares/ETPs, and they have the ability to set limit, and stop loss prices too.

"Trading 212 primarily generates revenue through currency conversion fees and the spreads charged on its Contracts for Difference (CFDs) and shares." - currency conversion fees, again every platform will charge you a currency conversion fee if you are buying in a currency other than your own, and Trading212's rates are more than decent. As for CFDs 99.9% of people reading this will never have, or want a CFD account, so this is irellevant, most will have either a Cash ISA, a Stocks and Shares ISA, or a GIA.

Trading212 may well also make money from interest on cash balances, but they pay you a class leading 4.6% (at the time of writing) on your cash held in a Stocks & Shares ISA, paid daily, so again, I'm not sure what the issue is here.

To summarise, I absolutely would recommend Trading212, and would not advise anyone to avoid it, for the reasons stated.

Also, for another unbiased view, check out a video titled "The Best Stocks & Shares ISA in 2025 (UPDATED)" by Damian Talks money on Youtube (I can't post a link to it!) starting at 1:04.

filbert1884

miller said:

mark1222 said:

"Trading 212 primarily generates revenue through currency conversion fees and the spreads charged on its Contracts for Difference (CFDs) and shares. They also earn revenue from share lending and overnight interest on cash balances".

Presumably this is in their T&Cs (lending out your shares)? Do any other platforms do that? Creates risk that whoever they are lending them to then runs into difficulties.

I thought by keeping any uninvested cash below the FSCS limit, that the investments themselves would be as near to 100% safe in the nominee account, but this changes my view of that.

It shouldn't.

A CFD account is something you will not have, so you can forget about that.

As for share lending, that is something you have to explictly opt-in to (with you GIA account only, not in an ISA), and only shares in demand will be lent, and you get paid, and there is 0 risk of you losing out as a result.

As for FSCS protection, it's there. See their site for verification, and don't trust what others say 100% without checking out the facts.

www.trading212.com/money-protection

It shows the details for 
Invest (GIA)
CFD (ignore, you won't use it)
Stocks ISA
Cash ISA

boingy

filbert1884 said:

miller said:

mark1222 said:

"Trading 212 primarily generates revenue through currency conversion fees and the spreads charged on its Contracts for Difference (CFDs) and shares. They also earn revenue from share lending and overnight interest on cash balances".

Presumably this is in their T&Cs (lending out your shares)? Do any other platforms do that? Creates risk that whoever they are lending them to then runs into difficulties.

I thought by keeping any uninvested cash below the FSCS limit, that the investments themselves would be as near to 100% safe in the nominee account, but this changes my view of that.

It shouldn't.

A CFD account is something you will not have, so you can forget about that.

As for share lending, that is something you have to explictly opt-in to (with you GIA account only, not in an ISA), and only shares in demand will be lent, and you get paid, and there is 0 risk of you losing out as a result.

As for FSCS protection, it's there. See their site for verification, and don't trust what others say 100% without checking out the facts.

www.trading212.com/money-protection

It shows the details for 
Invest (GIA)
CFD (ignore, you won't use it)
Stocks ISA
Cash ISA

filbert, do you work for T212 by any chance?
2 posts, both talking them up big time.

Their app is a triumph of style over substance and their customer service is right down there with the worst I've ever experienced, and I've experienced quite a few over the years.

wmb194

boingy said:

filbert1884 said:

miller said:

mark1222 said:

"Trading 212 primarily generates revenue through currency conversion fees and the spreads charged on its Contracts for Difference (CFDs) and shares. They also earn revenue from share lending and overnight interest on cash balances".

Presumably this is in their T&Cs (lending out your shares)? Do any other platforms do that? Creates risk that whoever they are lending them to then runs into difficulties.

I thought by keeping any uninvested cash below the FSCS limit, that the investments themselves would be as near to 100% safe in the nominee account, but this changes my view of that.

It shouldn't.

A CFD account is something you will not have, so you can forget about that.

As for share lending, that is something you have to explictly opt-in to (with you GIA account only, not in an ISA), and only shares in demand will be lent, and you get paid, and there is 0 risk of you losing out as a result.

As for FSCS protection, it's there. See their site for verification, and don't trust what others say 100% without checking out the facts.

www.trading212.com/money-protection

It shows the details for 
Invest (GIA)
CFD (ignore, you won't use it)
Stocks ISA
Cash ISA

filbert, do you work for T212 by any chance?
2 posts, both talking them up big time.

Their app is a triumph of style over substance and their customer service is right down there with the worst I've ever experienced, and I've experienced quite a few over the years.

That's stockbrokers for you. Some people cannot sing the praises of AJ Bell and Hargreaves Lansdown loudly enough but personally I can't stand either of them. So far, for me, T212's been fine.

boingy

wmb194 said:

boingy said:

filbert1884 said:

miller said:

mark1222 said:

"Trading 212 primarily generates revenue through currency conversion fees and the spreads charged on its Contracts for Difference (CFDs) and shares. They also earn revenue from share lending and overnight interest on cash balances".

Presumably this is in their T&Cs (lending out your shares)? Do any other platforms do that? Creates risk that whoever they are lending them to then runs into difficulties.

I thought by keeping any uninvested cash below the FSCS limit, that the investments themselves would be as near to 100% safe in the nominee account, but this changes my view of that.

It shouldn't.

A CFD account is something you will not have, so you can forget about that.

As for share lending, that is something you have to explictly opt-in to (with you GIA account only, not in an ISA), and only shares in demand will be lent, and you get paid, and there is 0 risk of you losing out as a result.

As for FSCS protection, it's there. See their site for verification, and don't trust what others say 100% without checking out the facts.

www.trading212.com/money-protection

It shows the details for 
Invest (GIA)
CFD (ignore, you won't use it)
Stocks ISA
Cash ISA

filbert, do you work for T212 by any chance?
2 posts, both talking them up big time.

Their app is a triumph of style over substance and their customer service is right down there with the worst I've ever experienced, and I've experienced quite a few over the years.

That's stockbrokers for you. Some people cannot sing the praises of AJ Bell and Hargreaves Lansdown loudly enough but personally I can't stand either of them. So far, for me, T212's been fine.

Yeah, you are right of course. We all have different experiences of different companies and, yes, in general stock brokers are not exactly the most customer focussed bunch. I've probably used most of them over the years, including a good few who are no longer with us. Anyone remember Fastrade, the online face of Torrie and Co? They went from superb to awful in weeks as a result of being bought out.

GeoffTF

wmb194 said:

Some people cannot sing the praises of AJ Bell and Hargreaves Lansdown loudly enough but personally I can't stand either of them. So far, for me, T212's been fine.

I have used countless brokers over the last 40 years. People's opinions depend mostly on their personal experience. My experience of AJ Bell was good. HL's website makes simple tasks complicated, but otherwise HL seems to be fine. I have not had any serious problems with iWeb in over 15 years. Vanguard has not been great.