This is an ETF. Used for long term, so you just buy and hold (in other words do nothing). If this ETF pay dividends, they will be added to you free funds and you will get a notification with the amount of dividends you got paid.
Okay thanks for that I get it now, I’m guessing you have to take the profit out of Non ETFs?
You can of course buy and hold, and let your money grow over time.
Trailing Stop? Is this CFD side?
Just so you know, you’re purchasing a CFD not an actual ETF. To buy actual stocks and ETFs you should move to the INVEST section.
I see you only bought 3 CFDs so you should be fine, but since you’re new, do a bit of reading up on them before putting more money in.
Mate, not being funny but stick your account on Practice mode, go find the T212 YouTube channel and watch the how to videos.
As a starting point.
This is frightening.
What is the main difference exactly? Is it less profitable? And I’m pretty sure I can move my funds to the invest so it should be okay but I’ll do more reading up and such but I think I’ve got an idea of it so far
What have I done that’s so majorly wrong? If it’s in the wrong account I can move it to INVEST No problem and why would they have a department you can’t make money on? that doesn’t make sense
I’ve read the main Difference Between the two and I get that invest you actually own a share but What makes CFD so bad? Is it Harder to profit? And if so How come?
CFD’s are not for you at the moment if you are asking these questions. Just go to ISA and Invest, and buy and hold there.
Okay, I was just wondering If CFDs collect profit automatically but it seems Invest might be easier but they don’t look like they’re gonna bring in much profit
It is just too risky in CFD and you will lose money if you don’t know what you are doing.
CFDs are just complex instruments with leverage, meaning your risk is much higher than using the invest or ISA section. By the sounds of it you just want to invest, so best to stick with that, and if you want to try CFD out you can try the practice account first we’re all just here trying to stop you making a mistake that could cost you a lot of money, that’s all! I don’t touch the CFDs
Okay I made a little profit from CFD but I’m gonna move to Invest or ISA, Is there much difference? I’m looking for a long term stable Passive Income and I know I get that from dividends but Which Platform would benefit me the most? ISA or Invest?
ISA for sure, it’s tax free up to £20,000 deposit a year. Then if you exceed that amount you can use the Invest.
Two cases where invest could be better over ISA:
- Highly risky investment. This means you can claim losses to lower your taxes (But means big gains are taxable )
- To invest in certain stocks not available in ISA eg. NIO
(Not investing advice btw, just my opinion lol)
Yeah I get you, didn’t mean to be so defensive and thanks for the advice, think I’ll go with the same ETF but with ISA or Invest. Once I figure out what’s better for me and sorted it, I’ll start watching through the videos to understand more and get a better general idea.
That’s good, I think you’ll understand why CFD isn’t for you soon, it’s for shorter term investments. The fees and rollovers make it impractical for long term investment. I have a YouTube channel if you want to check it out, but nothing on there explaining the differences between CFD and Invest but there are lots of videos on that already!
One more thing to add.
An ISA is only meant to be for UK residents! If you are resident in another country you should use invest account instead.
Yeah I’ll happily check out your channel If you leave a link, also I was totally thinking that CFD was for short term investments cuz it seems be much more busy than the other platforms and just watching how quickly the numbers change. But will check out ur vids when I can and I’ll stick to the safe zone till I have the knowledge but thanks for the help.