I do not watch his channel, but a fellow investor shared this with me privately.
There is a saying where I come from âDo not bite the hand that feeds youâ, and I feel there is an element of this here.
T212 may be small, etc etc ⌠but as mentioned in the above comments, they should not come over âholierâ than others and then do the very same thing. Who is to say their costs may not be half HL in 6 months or 12 months?
By then a lot of people have poured money into their brokerage. Had they done this stunt in January I would have sold every one of my positions - taken my 35% profit and re-considered my options
But now, that is not looking so attractive for a tech heavy portfolio
Dividend received on a share youâll have to pay a 0.15% fee for it to enter you account, 0.15% fee to then reinvest that Dividend and then 0.15% again to sell that share / reinvested dividendâŚ
No pulling that our my arse when itâs hard facts.
Yes, the buy is 0.15% and the sell is 0.15% but the fess wouldnât be 0.3% total as the selling fee would reflect the gain or loss. So if you buy 1k the 0.15% is ÂŁ1.5 but you sell at 2k then the fee on that is ÂŁ3 in total you have paid ÂŁ4.50 in fees. ÂŁ4.50 is not 0.3% of the 2k amount.
With dividends yes itâs 0.15% but you have to remember you already pay 15% withholding tax (if you are in the UK) so this is no big deal in the first place but letâs play along. Letâs say you are getting ÂŁ100 div so would be paying 0.15% on that ÂŁ0.15 and when you were to buy another stock with your ÂŁ99.85 (remember you have just paid 15p to 212) you would pay another ÂŁ0.15 (the actual amount is 149775 but I have rounded it for ease of understanding). In this case, the fee to reinvest the div would be 0.3% but thatâs only because of rounding.
Again that amount is also nowhere near your 0.45% you are stating.
And no the fees are not 0.3% and 0.45% max, in reality, itâs lower much lower.
Also, remember that you are still paying for fund management fees on other platforms which are not on 212 so that would also push the fess on other platforms up.
Now if 212 was to add fund management fees in the future then you might have a point but right now you have nothing.
Well DeGiro is well positioned. Commissions are really low but you know in up front. And since their beginning the more they grew the more they reduced fees, so probably in the next years they may become even lower. (They have big plans after the merge with FlatexBank).
The forex fee can be 0,10% or 10$+0,02% depending on your choice, but you can hold your currencies as you wish.
Deposit and withdrawals are free but available only through bank transfers.
They donât have penny stocks but they have basically every European market and every important worldwide market.
They give you everything needed for your tax declaration to make it easy.
I personally think that for British people T212 is still a good option but as for Europeans it isnât. Iâm personally moving away from T212 and keep it only for some transactions in penny stocks for few reasons.
I was waiting for in-specie transfers to move my main portfolio in a bank towards T212 and it never happened as they are still not supporting this feature, but at the end it worked well for me and I moved it to DeGiro.
Absence of multi currency account
The fact that they are growing and adding fees with really short notice (fees which I donât complaint because are reasonable but make me loose trust on what they say and promise)
The absence of the markets that counts for me, like Borsa Italiana or Asians. I personally donât care about the OTC
The most important is the fact that they are focused too much on the UK clients and as European there is no really good feature a part for the 0 commissions on trades, but I rather pay 50cent to Degiro when I buy stocks but at least I have all the important features. And anyway they have a list of ETFs free which for a lot of people that invests only on ETFs makes it a free commission broker
Itâs impossible to handle taxes with their system in some European countries
And as I personally never had a single problem with T212, I think the direction they are going is not the one of the broker I wanna leave my money in for the long run. Of course this is a personal opinion based on the facts that exists today. In the future perhaps things will change and Iâll move everything to T212. At the end they are a Company that gives a service and they can decide how they want to do it, If the service meets the needs of the costumers they should stay, if not, they should leave and change. Same as you would do with your Music subscription from Apple or Spotify, etc.
I hope in the future they will focus more on the professional and important features that a broker should have and not the gaming social pies. Until then for my needs and I think in general for Europeans there are better options in the market.
100 - 0.15% is 99.85, then If I sell my 99.85 itâs 99.85 - 0.15 which is 99.7
100 - 0.30 is 99.70 so how is that not the same
Doesnât matter on the dollar value, to buy and sell a share now not in GBP there will be a min fee of 0.30% 0.15% on the buy order and 0.15% on the sell doesnât matter the dolla value itâs 0.15% on each trade.
To be fair I do think it isnât sensible to look at it as 0.3% or 0.45%, the percentages are 0.15% each yes but they are on different notional amounts
Easiest way is too look at it as 0.15%, as this is how most other brokers state their fees too, so itâs best for comparison purposes
