TBF before card fees, and before these FX fees trading 212 services were announced I was amazed at the service 212 were offering.
Even introducing pies
You can defend 212 for whatever reason but not everything they do is glittered in gold. Since the announcement of fees and I guess this roadmap of investment, things just look worse
app slow downs, no new referrals, change in trading terms etcā¦
Yes, all this needs investment
But if you expect people not to complain about new fees then there needs to be a reality check. Money strike emotion in people, that is never going to change.
Yea i find myself with the same issue. T212 is now with Freetrade and Etoro in my opinion. As soon as one of the better established US fintech comes into the UK market im off. My trust in this platform is gone, they dont care about us. They going to make millions form this FX fee.
what makes them popular is what they offer, what makes them unpopular is what they donāt offer. but everyday there will be at least 1 complaint about some aspect of T212 someone isnāt satisfied with that they have been provided at no cost to themselves. that hasnāt changed from the beginning until today.
T212 makes a move in order to address those complaints and they are rewarded with? more complaints Itās not about being golden at all.
Who ever is flagging @tyler in this thread please stop it? He is only giving constructive feedback, there is no foul language or anything of that sort for his comments to be flagged.
If it is a T212 person doing that that just shows how much class you have.
We should be able to have discussions here so long as it is not offensive.
According to latest available numbers ~3 billions Ā£ in AUM. Thatās means a lot in interests and security lending, think 1-3% at least being on the conservative side.
Less operating costs because deposit/top up costs now off-loaded on to customers.
1.5 million average trades per day!!! That means, with an average trade of just 100 quids, thatās 150 million in volume!!
150.000.000 x 0.0015 is 225.000 per day just from the new FX fees. Thatās ~100 million a year with increased growth and volume.
And this is considering 100Ā£ as an average value of a single trade.
Iām not so sure about that, they somewhere specifically said ISA and Invest both were now profitable and sustainable. But I could be mistaken.
As for the AUMās significant chunk being ISA, Iām not so sure also, we donāt have the numbers. UK is a big market for them, not sure how much of UK AUM is ISA. My uneducated guess would be ~20%?!
Yeah this is really annoying. Can one of the admins check if itās automated? Or who is doing it? Loads of stuff that shouldnāt be flagged is getting flagged recently, almost seems like someone has just gone up a trust level and gained the flagging power.
T212 staff do not flag posts on the forum, any āMemberā can flag a post which is then brought to the attention of admin staff, it remains hidden until reviewed then either restored or removed.
Iām glad I made you laugh, but the point i was trying to make is that there are many ways to skin a cat.
You can introduce a fee, and make everything in that cost etc. Or you can find new ways of introducing transactions costs, one after another, in another way
But to continually bits here, bits there = lack of consistency
Effecting more people in this way, effecting more people in that wayā¦
Well when you do things in this methodology you are going to get peopleās backs up.
Yes i get if there is a fixed fee, and this rises there will be complaints. I agree a %fee is a better option, and cheaper if not big spending. But itās about being consistent.
If there was a fixed fee and it went up, i would complain about that. But card fee, transaction fee, price limits, referrals etc etc well that makes multiple complaints about different thingsā¦ Then people on this forum wonder why people complain?
āOh its still the best and cheapest so can everyone stop complainingā or āthey need to charge to invest, stop complainingā
What the hell is this type of argument? People complain when they are not happy with a situation! How about people stop complaining about how others are complaining!
This is one more step in the wrong direction. If you had opened up for multi-currency accounts first, I would think that you were professionals who think before you act.
By the way. You promised that you would be sustainable, if you could lend our shares. We didnāt have a choice then.
Now DEGIRO seems a better and safer broker for the long term.
T212 can do whatever they want at the moment, they literally have a huge waiting list of people all just trying to get on the platform.
They need to remember though that this works both ways and that the community should not forget and hold them accountable for the promise of all these amazing new features.
Also Trading 212 might be the best ācommission freeā uk app at the moment but iām pretty sure more will emerge over the next few years given how popular trading has become with retail investors, T212 should bear that in mind when thinking of introducing any more stealth charges.
Iāve noticed how its the āleadersā or the people with youtube channels who are all for this and seem to be flagging anyone who makes any negative comment towards feeās. I wonder whyā¦
The problem many people (me included) have is stop branding yourself are FREE every 5 seconds when you clearly arenāt anymore. Your whole product cant be based around being feeās free when you start charging fees. There is no problem with charging feeās but if you donāt have basic features and now your starting your feeās ( which wonāt be the last) at least have the decency to send out an email or announce it properly your handling peoples hard earned money. Many people before T212 paid feeās on other platforms so its the fact that you cant even be honest about it that has many people not happy.
āLoosing its commission-free statusā is obviously wrong statement, but thatās what ājournalistsā like to do these days - make a point and present āfactsā as suits you.
Trading 212 is still commission-free, still no management fees, subscription fees, premium fees etc.
0.15% fx conversion fee when currency conversion is needed. I guess they will not market themselves as fee free, only commission free after they start collecting this 0.15%.
(Or maybe they wonāt, Freetrade has been collecting triple that (0.45%) for forever, and they still market themselves as āInvest for free, foreverā)
@tradz if thatās your biggest problem with them, as you say, you are a happy man.
Itās not about being golden at all.