When I joined t212 in august last year, I then removed all my funds in December to help buy a car. But over the last few months when you look at it as a whole it is quite worrying.
They first released a share dealing service, I didn’t thing much about this.
They then added a charge to use your card at 0.7% which felt expensive to me but atleast you could use the instant bank transfer to deposit for free.
Also they have suspended new customers for over a month now, they have now added a fx fee 0.15%.
The minimum amount for pending orders to 100 units of the currency, which when I start working in the office again I would probably want to use but 100 is a bit much as I would normally buy 1 share of something like vusa for example. Also before this was announced it happened to users as someone asked in the forum why this happened to them and t212 said it shouldn’t happen and a day or two later they released the announcement. So basically lied to the customer.
They have apparently removed the free shares for referrals for new customers, not checked if this is true.
Also seen that a YouTuber has been suspended due to the free share referrals as from what he said it looks like his viewers were getting the free share then just selling it and then just withdrawing the funds. Which was allowed by the terms and conditions back then. Apparently these have now changed. Don’t know how true this is.
They still advertise on the homepage that they don’t charge fees. They seem to keep the announcements low key. Just feels this was the business plan from the beginning attract over a million customers and customer assets in the billions and then start charging fees. Doing it this way when customers have Thousands of pounds invested they would be less likely to want the hassle selling them all and moving platforms.
Just leaves me feel what next, and uncertainty. Personally I think they are going to wait for all the isa to be opened after April and then either add a account fee or isa fee.
To me you need to be able to trust the company you are with especially when it comes to money.