How much money can I safely deposit into my GIA?

Hey guys can I ask a few questions

Is it safe to deposit 1 million pounds into my gia here?

I didn’t feel safe doing so on trading 212 and pulled my shares from that brokerage aswell. With the halting trades and securities fiasco last week.

Haven’t got an answer from any customer service and messaged 5 days ago so doesn’t seem a great start


Personally if I had that amount of money to invest I would use a more established platform rather than a mobile app. But that’s just my opinion.


It’s as safe as you can expect it to be.

It’s all FCA regulated and funds/shares are held in ring fenced accounts.


Welcome. Some of us have a fair old whack here. But I use various brokers as different brokers have different stocks. I use FT HL and II as well as IG oh and coinbase and binance.

So you would be prudent to spread it between several brokers no matter how established they are.

Remember FT limits you to 9900 for UK transactions and $25k for US so you might find that too restrictive.


the answer is up to £85k is very safe as it is protected by the FSCS.

Above that is more risky, because if Freetrade goes out of business and cant pay your claim, you risk loosing all your money above £85k. The amount you get is per company not per person.

So if you have £170k you could split it in 2 brokers and all your money is safe (but check that they are FSCS protected, and that the companies are not part of the same group)

Depends on the bank as well. But this isn’t really how it would work in practice unless something went really horribly wrong like Adam running away with all your money.

In reality what might be more likely to be seen in the event a broker failed is that the 85K protection is used to cover any losses, including cash, fees, and assets held.

So for example, you have 600k in securities and 400k in cash, Freetrade goes bust and the administrator charges 5k in fees and there’s some small accounting issues with illiquid fractional shares amounting to 6k then he FSCS protection would cover the 11k in losses and costs and you’d get all you’re money back.

The idea that you’d lose 400k in cash and 600k in securities for example would be an absolutely catastrophic event that’s so unlikely to happen. The only reason I could see it happening is if there was some serious fraud and corruption in the company.

However you wont see millionaires opening 500 broker accounts just so they have 85k fscs protection because quite frankly that’s ridiculous.

presumably because they don’t guarantee holding assets in a nominee?

They’ve had to scale up their customer service due to a huge influx of customers (essentially double the customers in just a couple of months), unfortunately its not quick to hire good staff.

As to your question.

It depends.
What are your concerns? what are your requirements? I don’t know if you get financial advice but with a million+ it might be advisable.

As for the technical consideration. Freetrade has FSCS protection and all money and assets are always held under a nominee as per the terms and conditions.

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Hey guys sorry I was at the beach with my family

I’ve just hit lucky and made my first or very close to, a million through investing with some money I won from a scratch card.

I only have an accountant that helps me pay my tax yearly and hemp set up a s and s isa that’s my only financial advice tbh and I’m just having a look around to where my next step would be as my investment is starting to take shape.

Thanks for all your help I will go and talk to my account and see whats what.

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Sorry for the five-day delay. :pray:

We’re finalising a roadmap to get back to our usual customer service SLAs, and for Plus members, that will be getting a response within the hour (over time it will be within X number of minutes).

We’ve dropped you a message as well in case we can provide more information.


This might be a daft statement but…if Freetrade went bust, would everyone not still own their shares/ETFs regardless? Only uninvested cash would be at risk? Have wondered this for a while. Thanks anyone who can shed some light!

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Please tag me in when they answer.
But from what I can see 85k and money are kept seperate FT seems to be the safer option to 212

Freetrade are certainly the better option when compared to T212 who are based in Bulgaria.

I don’t think uninvested cash would be at risk

I think they relocated in UK because of the UK emancipation, independenence and prosperity movement that had not caused much suffering in the North or south and no job losses because people did a diligent research on the matter and fully understood the past present and potential future situation.
Because humans make their best decisions when they are sound of mind and never give in to their emotions.
Long live the… UK…

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Over 85k would be at risk

Spread it out over multiple platforms.


I wouldn’t trust T212 with a penny of my money. Have you not read about the horror stories?


I don’t like the fact that they offer CFD


Cheap and cheerful what can i say.

Yes I agree with you

Brokers hold your shares in a nominee account so even if they went bust, your money is still safe and still yours.

Unless they have committed massive fraud and stolen it, then only 85k is guaranteed. So it’s that ‘gamble’ I guess but surely they can give some further proof. In some of the legacy platforms I expect half their users are pushing this limit, they can’t all be making multiple accounts…


If by cheap and cheerful you mean 76% of their customers are losing money then yes I guess so! :joy:

They are built on CFD lies and that’s why they won’t be taken seriously over the long term when it comes to managing wealth.