Looks like Degiro is pushing the competition on fees further towards its logical conclusion.
I assume this means the only cost will be the 0.25% FX left (+ some fees on other product types like derivs)
Says the fx is 0.25
Looking at their fiendishly complicated fee schedule (with effect from 20/12/21) they are still charging lots of fees, except for US and Canadian stocks. Not sure if the pricing structure is the same for European customers.
I think the whole budget trading area is going to get too busy with too similar products and many will fail or merge. I just don’t see the long term viability of so many identikit companies especially now lock downs are over and people spend rather than squirrel it away.
On the flip side it does seem to be the new gambling choice to many people when reading the impatient treat it like a daily thing rather than long term investment. Will be interesting to see who comes out on top. Freetrade to win
Usually the whole industry gets shaken up … not just the ‘budget players’ . As an example look at the saga with Budget airlines. Or the UK Supermarket shake up. The way I look at it is competition is good when the customers benefit.
And you are right many companies will merge or be liquidated.
Speaking of useless…any news on trading 212 reopening in UK?
Still useless then…
At the AMA you’ll hear Viktor say that they’re not planning on expanding into USA or China. He worded it better than my memory so we’ll wait for it to be posted.
Juno did you forget to switch back to the @kuger account? Because I think you did.
Edit - Brian deleted post that now ruins the ‘got ya’
Juno taking that long walk alone
And the many pseudonyms of Juno
I believe what was meant here is that in the US there are many low cost trading companies [some of them are very big names] and the main differentiator is “service”. So @kuger is simply saying that if there are loads of companies here with low fees the differentiation will have to come through service.
Or the many split personalities that are always on the side of annoying rather than entertaining
Does anyone know what trading app has the lowest FX fees when trading US stocks?
Would be much appreciated.
Lightyear currently have no fees except a 0.35% currency conversion charge up to £3K/mo.
Stake charges no FX fees on trades. Only on deposits and withdrawals. USD account only.
Revolut - no FX fee on trades. Metal membership required.
All the above don’t offer ISAs or SIPPs and have smaller universe of stocks
AJ Bell launching a competitor in the free commission space
In other news AJ Bell sh*ts itself but does too little too late …