Trading 212

i have looked at all brokers and here is my personal view

Brokers platfoms i do NOT Trust
IG
T212
Degiro
Etoro
Any Broker that has CFD or spreadbetting or forex and outside the uk

Brokers Platforms i DO Trust
HL
IWEB
Halifax
HSBC
Barclays
FreeTrade

The main reason authorised and regulated by the financial conduct authority Always make sure you see the ā€œregulatedā€ and NOT just authorised and/or just passport rights to uk

And clear open price like Freetrade is also number 1 :tickets:

4 Likes

I contacted T212 this morning about Custody fees and inactivity fees. they said that they don’t charge them for an invest/isa account. however they make a bit on the spread.

2 Likes

Their email said something about ISA transfers out, but the fees document is vague.

1 Like

I was told to liquid all my positions and they would to a cash transfer. But they also said its ā€œeasierā€ to close your current ISA and open a new one with them. Not sure if this really works or is even allowed and I am sure you are ā€œwastingā€ your ISA allowance.

That is terrible advice from them as you would certainly be wasting your ISA allowance.

5 Likes

I agree 100% :slight_smile:

1 Like

yeah bad advice from t212 but one thing i never understand is why anyone would do a transfer and not just wait for new tax year the transfer process in the uk with all brokers is a mess untill they start fully electronic share transfer

It’s clearly written on Trading 212’s website that they are authorised and regulated by the FCA and your funds are kept in a segregated account and are protected by the FSCS up to Ā£85,000.

And I don’t think the share prices on Freetrade clear and open at all. It seems all the data won’t be updated automatically if I don’t click on my shares, which is not acceptable! Also you cannot experience the ever changing share prices at all. Not to mention their charts are awful.

All fees that Trading 212 is charging are written on the page of FAQs. I really don’t understand why people keep saying it’s difficult to find. I tend to believe Trading 212 has a worse spread though. But come on, you will have to take whatever Freetrade offers you if you don’t pay their Ā£1 instant trading fee. For me, spreads on both platforms are hidden.

Trading 212 allows you to open a USD account besides your Investment ISA, so FX rate is not my concern at all. And what’s the percentage Freetrade is charging for FX? Also, it’s possible to place orders with your preferred prices for the app to execute later on Trading 212. Does Freetrade have such a feature?

For now, I’m only keeping Freetrade and Revolut Trading for stocks like Avast and Cognex that I cannot get on Trading 212.

2 Likes

I’ve been with 212 for the past 2 years and to be honest, most of the bashing that I’m seeing here is simply not objective. Since I use both FT and 212, I think I’m qualified to compare.

Mind you, I’m actively trading with my 212 invest account and not once have I had a hidden charge. Somebody on here said that they earn on spread, which is kinda bs, as there’s a law in Europe, strictly forbidding brokers to profit from spread. On top of that, orders are directly executed on the exchanges, confirming my previous claim.

After all, everyone is free to choose which service they go with, but let’s be objective here. It’s best to try something first and then speak from experience, rather than just your own impressions, that you got from god knows where. It’s beyond me how 212 are able to offer such a service for free, but the fact is that it really is.

4 Likes

What really makes me enjoy freetrade is that i feel their main priority is me and my success, and the feel that the better I do the better they will do aswell, priceless, thank you!

8 Likes

What makes you feel that?

1 Like

I asked the service agent about that and that’s what they told me.

I’ve been using this for just over a week now. I absolutely love it! My fav feature is the limit buy and limit sell.

I think the main reason it took me so long to sign up to it was mainly due to what people said and getting mixed up with the CFD accounts.

2 Likes

Maybe it’s the way they interact with the community, or the way they let the community decide the next step, or simply because everything seems so clear about any doubts you may have, with answers from members of the team spread all arround the forum.

3 Likes

T212 doesn’t have a forum?

Don’t get me wrong T212 is great I just prefer freetrade approach, also despite I’m excited for new features it’s not a deal breaker for me as long as they keep them coming.

4 Likes

I made the effort now to try Trading 212 and so far I am very impressed. I pushed their costumer service by asking all sorts of questions and they seem to be very responsive and knowledgeable. Although you have to ask the right questions.

I was told that you cannot invest in CFD when you open up a normal investment account. This made me feel a bit more relaxed exploring the platform.

I did get my freeshare asap which was: Activision Blizzard (54.45 USD)!

The options to buy and sell via limit and stop order is very useful and I feel a bit more in control about when and what I am buying. I understand as a long term investor this is not really important but having the option is just a good thing.

A bit of negative:
What I noticed asap when looking up stocks with Trading 212 was that there is no ā€œqualitativeā€ information about stocks and etfs. Freetrade is great here as you see a small description about what you are looking at and gives you a good first idea of the sector/industry and makes you also curious to read more about that company/market. With Trading 212 its a bit ā€œsolelessā€ as you are presented with ā€œplainā€ stock names and some of the ETF names have to be translated. Not sure if this is me getting used to this but boy did I miss Freetrade and their fun descriptions.

This is just my personal opinion after having tried this to share my opinion with the FT community !

4 Likes

I hope you stick your Freetrade referral link on Trading 212’s forum! :rofl:

12 Likes

Thanks I’ll use this - looking to buy some European shares. :+1:

1 Like

Sorry to directly edit a handful of posts above, we are trying to avoid that as much as physically possible.

Just to share transparently, a number of posts have been flagged by community members because they contained referral links.

In general, all referral links should go to a dedicated thread (to be built out - we’re low on resources), but we take the view that we won’t host a dedicated thread for direct competitor referral links. I hope that makes sense for you all. For a broader context, we also remove all low-effort comments with only a referral link, whatever the product.

That’s all. We’re very happy for unedited reviews and an open discussion to continue here. :+1:

24 Likes