No ISA no point
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I did the same. Messaged through the app to delete the sign up. They did get back to me
Any idea if Robin Hood will offer Options on US stocks for UK customers?
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They sent an email today about this card. It seems to be better than Wise, Revolut, and others in terms of fees and rewards. I joined their waiting list.
If Freetrade donāt ipo in 2025 they will be acquired by Robinhood,HL,AJ Bell etc
Details of the card - https://www.trading212.com/cards
Congratulations to the fast and dynamic leadership and teams over at 212!
Theyāre absolutely smashing it with all the new features and developments. The pace at which they keep pushing the envelope is admirable.
Iād recommend everyone pop over and check their features which also recently included 24/5 trading - https://www.trading212.com/invest
I really canāt believe how fast they move. I think I have Stockholm Syndrome.
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Never forget:
77% of retail investor accounts lose money when trading CFDs with this provider .
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Donāt trade CFDs then!
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T212 really does seem to put FT to shame in terms of listening and pushing out features its users want.
This FT vs T212 reddit thread was an interesting read:
https://www.reddit.com/r/FreetradeApp/s/YLlvXz0Tn5
Iām a little fearful if T212 launches a Sipp as thatās one of only few meaningful advtanges that FT has.
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Would move me for sure
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I would seriously think about switching too.
For me, the only other real pro for FT is its customer service, which I thinkās the best around, but I have never had much need to contact T212 support.
FT has a few other pros, such as better execution on Aim stocks, but none are important to me.
Iāve never really bought into the whole "holier-than-thouā argument around CFDs.
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They are indeed amazing at quickly delivering big features.
Putting moral argument aside, If a companyās core business is making its customers lose money, thatās probably not where you want to park your savings for the next five years.
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Wouldnāt that be a personal decision for each customer? From what I understand, they donāt force anyone to invest in these CFDs. I donāt know if youāre aware, but you can simply open an ISA account and have no involvement with CFDs at all.
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I know where youāre coming from and it is a reasonable stance.
However, playing devilās advocate, you could similarly say if a companyās core business is losing money hand over fist ā thatās probably not where you want to park your savings for the next five years either.
Iām not swayed by either argument. Iām comfortable holding investments on both platforms so, for me, it comes down to a comparison of costs and features. I worry FTās offer is just not compelling enough.
I think this is an important point. Unlike eToro, where itās tricky to decipher whatās a CFD and whatās a stock, T212 segregates the two. In my experience, they donāt push CFDs on GIA or Isa clients either.
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I have the same experience. No one has ever pushed me to invest in CFDs, so Iām not sure if they are concerned about expanding in this segment to cover any financial gaps. Itās also important to note that they have been consistently profitable.
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Freetrade needs to get someone advise from T212 to develop essential and advanced features.
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You are comparing apples with pears.
Year end 2022 212 made 41 million PROFIT, paying a dividend of 15 million.
Freetrade was no where near 41 million REVENUE.
Freetrade didnt have the funding to compete with 212 in terms of new features, they had to cut their cloth accordingly.
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You would be surprised at the cons going on. I have two investments with Hargreaves Lansdowne both in $ but no fees charged. They say that even though they are quoted in dollars in reality they are never converted.
Freetrade donāt have them but 212 do and they charge FX fees. Basically competence cost money!!
I have no doubt freetrade would charge FX fees if I could bought them on here.
Also they (HL) were able to get me some very good bonds at IPO and of course IPO and bonds are not available on freetrade.
Multiple accounts appear to be the only way to go.
I use 212 for small companies that are not on freetrade.
Choice is massively better on 212ā¦ But and itās a big but (bigger than my ex wifeās!) It can take forever for the purchase to take place. The same small company on freetrade (if itās available) will probably be instant. God knows what it will be like to sell them.
According to the contract notes they are buying on the over the counter market.
A week? Ridiculous!
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