Way I see it is based on the incentives Freetrade have offered I have moved to a cheaper provider for my ISA & have had my plus fee paid for for around 6 years.
Havenāt seen anyone offering even close to that, baring 212 which I didnāt enjoy using.
I forgot to add that it was a fake account and at the time I was starting to use graphs but also use candle sticks and all these lines etc etc as I thought thatās what trading was about so I kept doing it for months and months to see if I could contuine on making some sort of profit using a little amount of cash. I used the same amount of cash I was willing to risk for my very first time investing but right when I was ready they closed new customers joining and only paid customers got to stay.
Had that not have happend I probably would of been with t212 but when they shut down I waited for months then seen freetrade and said screw this lets try investing.
When I say gimmicks I mean their more like indicators and as a moutain of people would like to let me know thatās me starting to day trade and doing all those lines etc is the wrong way to start.
Its also many audio books I have listened to said you can draw all the lines and graphs you want etc itās still not going to do much for you over the long term. Who knows about that but that would be the 5th book that has said that.
I did like the slow stochastic oscillator because it was a nice way of giving you an indication of when to buy and sell but again day trading it could also take days for this to happen as well but the majority of the time on the likes of the uk100 it done it many times per day.
The same guy I used to watch tutorials on how to do these graphs left t212 and started his own platform up forgot which but I have seen his face about a few companies before seeing proper TV adverts of him.slim guy grey hair bit sure if you might know who I mean.
Well big stuff people want are employer contributions on sipps, I guess I see tax options a lot, I see Lisa lots and jisa, I donāt see to many people ask for many things, some are wanting auto div reinvesting, auto pilot. Div statement filters and just more filters in general. I have seen pies pop up more recently now though.
All Iām saying is freetrade wonāt be able to do all of these so what and who do they prioritiseā¦ I donāt know thatās up to them I guess itās their platform.
To me I like the looks of lots of platforms I have always been a sucker for dark neon blue type colors but here I am on a pink platform lol.
The bad thing I heard about t212 is they make most of their cash on customers losing money on cfds and that your shares arenāt your shares their kept somewhere else. I seen a lot of bad stigma on that platform from people who are the big YouTube hitters but still now a days their with them.
I always find it weird pension craft doesnāt seem to pick up on this that their not really your shares subject as he seems to be pretty clued up in everything due to his past job.
I donāt think I will comment on features really anymore I have also asked for basic stuff that still isnāt in the app and others just used to tell me to go to the insights tab to go view it that way which is not the way others and me want to view it and we wanted it on the main graph.
Just one question about pies and or the fact they can rebalence a full portfolio say I had a set amount of cash and wanted it to invest 12% here and 18% there does this work better with usa stocks? Because fractional shares. I just wondered how it works with UK only stocks? I guess it just letās you know what it can buy and how much youāre left with because it can only buy full shares, I dunno.
This isnāt something specific to 212.
Officially we donāt own our shares on any of the platforms. We are listed as the beneficial owned which is something different entirely in law.
All brokers use a nominee account. This can sometimes be called an omnibus account or to use American vernacular book entry shares.
Effectively the broker holds your shares in thier name.
The only way to register your shares in your name is to buy paper certificated shares or to use whatās known as a āpersonal crest accountā.
While paper share certificates are relatively easy to buy, but costly a personal crest account is only offered by two brokers nowadays. One is Killik and I forget which the other one was.
If you ever manage to open a personal crest account, that will also be overly expensive as well.
Even brokers like Hargreaves Lands down and AJ Bell hold shares in nominee.
Thanks for this information. Can I ask what was all the aggro about T212 then if everyone else was doing the same? Or were they doing something differently as it was their own youtube users who share by them and get sponsored by them that made all the videos about it, so Iām just a little confused what went on.
@Edenās post here talks about what T212 are doing differently: ISA cost for new/additional features - #20 by Eden
I actully remember now reading that at the time this was all happning then all the you tubers made videos about it.
Worth noting 212s terms have changed since then, however last I checked they still donāt explicitly state who the actual nominees are that hold your shares. Thereās a general faq item that says IB hold them when I last looked which is still technically wrong. It could be that IB nominees limited hold the shares on 212s behalf (this is not the same as IB) but (unless the terms have changed) as 212 can also hold shares then that wouldnāt be the whole story. Itās ambiguous and Iāve never seen a straight answer from them on it
Incorrect regards to "only paid customers got to stayā. Existing non-paying customers more like, you donāt pay a fee to use the platform, so those who opened an account with T212 prior to them halting new customers were lucky they didnāt have to wait months.
Lines, charts, graphs etc, yeah great for day/swing trading or even entry points for longterm buying. I dont fully agree with it not being beneficial for longterm.
With the stuff you mention about what you have seen people wanting on the platform, surely that is pretty basic and easy to add to the platform. The question is why not implement it. I see so much potential with the platform but its being shackled.
The bit about cfds and shares are not yours etcā¦this has been done to death. The doom spreaders and the likes of Sasha Yanshin on youtube who secretly loves to be the bearer of bad news. I swear that guy walks around with an angry boner when he hears some ābad newsā, itching to get it on his channel (odd little man I find). People were having complete meltdowns on social media because T212 produced their annual reports late back in 2021 via companies house while the company was making significant changes to structure, management etc. People love FUD especially youtubers.
I canāt answer that one with pies as I donāt use them, I dont invest in UK companies and i dont buy fractional shares. I guess its just the same procedure.
Well I was talking with staff and I was using T212 for months before and when they stopped customers I was locked out for over 6 months plus, bevause all I was allowed to do was sign up and they would get back to me when a position opened and this felt like a year so I went with freetrade, so not incorrect in my case completly correct.
I canāt tell if lines graphs and all that actully really work as Iām not a professional or avid user of graphs etc.
I donāt know how the software developers of freetrade work in the back end and what may seem simple to us might not be to them. We never really know what freetrades up to in the back ground.
Yes sasha can be a little doom and gloom but he tends to title it with that and then come out in the end with it seeming not so bad, but heās a realist and just some people donāt like to hear the truth. I know stock market people always want to hear good news that everythingās going up and we pay less tax etc but thatās not how the world works.
Pies Iām the same I canāt speak of them much but I wouldnāt exactly say they work the same in the UK. I think they would work far easier in the USA since fractional shares alow you to allocate tiny sums of your monthly income to stocks where as the UK saying I want 10% in this stock well it might not have no where near enough to get you close to 10% so thats you waiting another month or two until it can buy.
I think this was another reason the public wants fractional shares in the UK as well.
Iām a bit confused with the T212 bit, you said you opened a fake account in one of your earlier posts? Then you said they put you on a waiting list. So you hadnāt actually opened a full account with them then only a practice account? Hence why they put you on a waiting list at the time of you trying to open a account?. If you already had a fully approved account with funds in then they wouldnt of chucked you off the platform. Seems odd to me that, never heard of that one. The incorrect bit was regards to paying users, users donāt pay to use the platform.
Sasha is a click bait merchant. Best ignored.
If he had anything worth listening to then he wouldnt need to title his videos with drivel.
Correct I had a practice account. It an real account with funds in it and yes I was aware why they took me off and put me on the waiting list like I said I was talking to staff about it. I was unlucky in the fact I was planning on adding real funds in the week after right when it happend but hey ho.
Heās not my go to but I give him a listen on certain subjects etc but I listen to most now and again.
A bit harsh but I think there needs to be a shake-up to ensure a laser focus on giving clients what they want.
Taking extra funding at the same valuation is crazy.
Do you think itās better to take extra fund at 70% discount vs previous valuation like Freetrade? 
Funding landscape was very different then.
Chip last convertible was at 40p now itās Ā£2.00, that makes these terms crazy.