Broker Comparison Table

Great table which matches my personal experience. But I think the fee you quote for Degiro is for a UK share, where 100 ULVR has a fee of £2.79. But the Degiro fee for a purchase of a US share is much less, eg 10/100 MSFT has £0.42/£0.72 fee.

I very much like your trading platform and that is it being continually improved. I have had great experience with customer chat.

Can I raise one concern? Maybe you can set my mind at rest. I do wonder about costs on larger trades. So far as I can tell your spreads are a little bit greater than some other brokers. For example, right now Interactive Investor is quoting sell/buy for MSFT with a spread of $0.01. You have $0.03. So on a 100 share purchase I will pay $1.50 less with Interactive Investor (so long as my trading credit is used, otherwise £7.99, and also so long as I have a balance of USD with them, so don’t have to pay fx). It will cost me $6 more on 400 shares. Degrio also has a smaller spread of 1-2 cents. Am I wrong? Of course on such a very large purchase I might use a limit order. But might it then be that my order is filled with another broker, but missed by you because your offer price is always going to be that tiny bit greater?

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You need not worry about the sale of a share with a 20% gain creating a capital gains tax liability. Any trades on the same day are matched. I have sometimes moved positions between brokers this way: Put cash in Broker B where you want to hold the position. Open trading platforms for Brokers A and B. Ar the same instant place sell and buy orders in A and B. On a share with tight spread my loss can be 0, or just a pound. There is likely be a tiny capital loss, which can eventually be set against some other gain when computing capital gains tax.

You can try to be clever and buy in B for less that you sold in A, but I don’t try to do that. The point is that you can switch a position between brokers in one minute for less than some charge to do it over weeks (AJ Bell £25, Degiro 10 euros). Of course the constraint is that you can only move as much as you have free cash on hand.

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Checked the thread at Freetrade….Lol…It’s clear that T212 is the better app to invest with right now. FT can only try to hide that comparison from their community…so pity, even their name Free-trade is misleading. Trading with them is not free. It’s only free to buy stocks at 3pm but that’s not trading is it??

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Maybe add Flatex (German free broker) too to the comparison?

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So both mine and @Beans17 posts are hidden. I am surprised by their response. I feel its really risky to stay with them considering their attitude red flag to many future and existing investors

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@Richard.W The price feed that you’re seeing might not equal the execution price. Nonetheless, rest assured that you’ll always be getting the best execution price possible, every single time. It’s illegal to mark up the spread.

P.S. Just checked MSFT & the spread is $0.01.

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Hi @David. I’m very glad to hear that! I thought perhaps a wider spread was how you funded free trading or made a profit, as brokers do with CFDs. If prices are just as keen as any other platform that gives me confidence. I did not know it is illegal to mark up spread. But I have noticed that my purchases have never been for less than what was on the screen. Sometimes more.

Interactive Investor, AJ Bell, Hargreaves Lansdown have a system whereby one sees an offer and has 10 seconds to push an accept button and obtain that price exactly. What you see is what you get. What are the disadvantages of that system? There must be a good reason that you and Degiro do not do it.

I have a couple suggestions.

I think it would be nice if the phone app could show both buy and sell prices even before one owns any shares, as the desktop platform does. I like the desktop platform of course. But the phone app is reslly good. I made purchases yesterday while at the gym.

Could the desktop platform be made to make audible beeps when alerts are triggered?

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This is beyond funny :rofl:

This is key point.

One thing I learned is not to trust ratings either on appstore, trustpilot or banking awards.
To get good ratings/awards all you need is lot of crowdfunded investors.

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I’d love to see this. Live quotes for buys and sells would be great.

Yes, with that system what you see is what you get but by the time you see it, it already isn’t the actual price of the market. What happens in these 10 seconds? The whole exchange freezes waiting for your order? The market moves and you get an “old” price.

This is a legacy solution specific to some old UK brokers. It is not how the stock exchanges actually work and none of the big brokers in the US works like that.

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I think etoro is missing from the table. But they are pretty much a scam with all their crazy withdrawal fees so I understand why did not include them.

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@Ivan Your answer makes sense to me. I had always wondered about how this system works. It feels nice to have the certainty, but after 10 seconds you may indeed be buying at more than the current market price, I am accustomed to this legacy solution on other platforms I have used, but feel I can adapt to this way of doing things.

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I am still using the demo account.

T212 requested my passport to validate my ID and since I have never traveled outside EU, I am waiting for this document and hopefully hop on board with T212 by next friday. Went to order the passport just because of T212 and how highly I think about it from what I have seen until now.

I am using Degiro at the moment and will make the move gradually to T212, seems to be a big improvement in all areas.

Also, the features I have seen listed and to be released soon are a big plus, keep them flowing, I believe you are in the path to be the next big and best online broker in EU.

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That’s great to see.

However, in the fin tech press I see FT, Revolut and even pending Robinhood being mentioned in the free commission space.

As you’re currently light years ahead of the comp, getting the above table out in the financial press would be v valuable imo.

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David, Ivan,

C n we add withdrawal fees pls ie T212 = 5 Eur to bank account, free to debit card & FT is £5 iirc.

I found out I had been banned on their Twitter when I belatedly opened an account for ETFs that weren’t on here, presumably as a T212 shill refuting some of their claims.

I got them to unblock me but surprised I haven’t been re-banned. A recent example would be their New Year wish list. I said full reporting and audit trail… stating I could immediately see my divis, realised & unrealised G/L and banking on T212! :nerd_face: :smile:

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You are right, but this is why it’s important to remember to rate stuff we don’t like as well as stuff we like on trustpilot and App Store, so people who don’t know the service are aware of negatives and not just enthusiastic and biased reviews by interested actors.

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Longtime back I asked Trustpilot about investor bias, got following reply…

Thank you for helping us improve the quality of the reviews on Trustpilot. We really appreciate your help!

Although privacy rules prevent me from giving you any specific information about our investigations, I can assure you that we’ll look into the company. If we find any reason to take action, we’ll do so.

That would mean, one has raise a complaint.

I agree with what you are saying but feel free objective reviews wouldn’t make any difference.

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This has been an enjoyable thread to read. I must say imo that Trading 212 is by far a superior platform at the moment and works best for my investment style. However, I do think it won’t take long until FT catch up.

One thing I do like that FT has is a short description about the stock or ETF

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Has T212 always charged £5 for withdrawals or was that a recent addition?