UPDATE: sorry, I missed the ā9ā digit. Just woke up to see the email from Trading 212 and read it. So it should not be actually as expensive. Ā£2.1 charge for a Ā£1400 trade is not bad. But still, I hope we have the option to change our base currency to USD since some mostly trade with US stocks and I prefer one-time fee for Forex vs fees every buy/sell.
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Yes it will eat into dividends that are very small you may basically get nothing in hand
Shouldnāt it be 1,3979 ? Maybe itās a typo.
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I grew up in another country so Iām used to 1.xxxx vs 1,xxxx. Itās also what was used in the example from the link. But you get the point.
Hey @David, thanks for the update. The fee seems reasonable. I was wondering whether some of these features are already in the pipeline or may be worth discussing with the team?
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Is there a quick solve behind the scenes for the team to allow us to see the actual number we are paying on each purchase? If so, would this be implemented just so we are aware.
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I saw some discussions of a multi currency account already but I wonder how probable it might be to allow conversion between currencies within the same account (whilst charging the same fee during each conversion)? I donāt know the legalities of this within an ISA account though but would be keen to get your thoughts.
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What he meant is that you are counting 1.379 instead of 1.3979
Thatās why you have such a big difference. 0,15% is always 0,15%, doesnāt matter if you apply it on the fx or the total amount.
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Sounds like the Fee is put inside the FX itself which I am okay with because if you buy any foreign game/movie/book your bank will charge you 1%!!! The true Conversations that are 1:1 are usually for Businessmen anyway who trade huge amounts.
Best buying foreign stocks when their currency is weak and selling when it is high to not feel the fees.
Not defending this, just my thoughts on it.
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Looks like Iāll be doing more swing trades than day trades then. Probably good, since I donāt get much work done in the afternoon!
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Oh yeah. Sorry for that, just woke up. So it shouldnāt be so expensive then. Edited my post.
If youāre looking to actively trade then Degiro. Itās what Iām strongly considering now.
Makes me think this is why T212 are bringing this fee with no multi currency.
Their business model is focused on earning money through securities lending so lots of trades in their books isnt the customer base they want. Brining in this fee drives away those actively trading customers
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I would agree with you if it werenāt for the dividend conversion which hits heavily exactly those who hoard the stock and not trade them. I just think they want to make money. I for one will live with it just because of the pie feature, but from now on the expectations on quality and features are much higher also. I was very lenient being a free service, but alas no more.
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And deprives them of income.
No problem 
Yes itās not expensive compared to the market, but itās not even the lowest, other charges 0,10%, 0,02% or even 0. But of course other fees apply for these brokers.
The problem here is the fact that T212 is promoted as 0 Fees Broker and while the card commission can still make it so, this fx fee no longer makes them a 0 Fees broker, but only a 0 commissions trade fee broker.
But the real problem is that while other Companies when they increase their user base they āusuallyā reduce fees, T212 is adding them. And this just makes you wonder what could be next.
And also what is bothering most people is the fact that the commission on cards has been introduced before giving other options for may countries to deposit without fees. Same for the fx fee, is been introduced before offering multicurrency accounts.
But at the end as it has been proven since the begin of capitalism, there is no free lunch. But better order your cheeseburger knowing what you are going to pay in advance and not changing price while you are giving your third bite.
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Donāt get me wrong - Iām not a fan of any sort of fees, but I think that weāre a bit too harsh with T212ā¦ I mean, up until today we are not paying any fees, so from that perspective we saved some funds (which was not going to happen if we were using other brokers meanwhile). Many said that theyāll pay some fee to get a better service so here we areā¦ Thatās a really nice comparison tho:
The fee is technically not applied yet, so they still remain free. I donāt take into account the card deposits fee since I can choose on my own if I want the money to be deposited instantly (=card & pay fee) or send a wire and wait (which will be free). But you have more support on that - more deposit options is just a must
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You can buy an S&P500 ETF in GBP
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Agree. Iām good with the fees as long as the money is also used to improve the product and not just for profits, which i believe it will.
yes but is not free, most etf charge fees
So itās time to sell all the shares before May.
Thank you Trading212 and goodbye.
TradeRepublic and scalable capital are calling.
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Your comment doesnāt make sense. To leave the platform you would still have to sell everything so tax implications are no different to switching to EUR account here
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Itās really sad and disappointing to see T212 introducing FX fee. It would really have been great if T212 would have stick with their motto āZero commission, no feesā for the long term and increase the brand power.
This doesnāt make sense when T212 market/advertise saying āZero Commission, no feesā. How is it different than any other brokers?
Also fee on dividends, really?? this means if you are interested in US stocks you will pay three fees:
- FX fee when they Buy/Sell
- WitholdingTax on Dividends
- FX fee on Dividends
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