It has been if I remember correctly. Received an email or a notification, don’t remember exactly.
Just made a trade on a US equity in my ISA and saw the FX fee being charged. It’s a sinking feeling
I wonder if there is a programming error. Fx fee does not appear in Review order screen on sales of existing positions in Invest account, but you are right, it is appearing in the Review order screen of ISA.
Many will ask why are you selling TSLA.
@GoldmanSachs Would you be able to direct message me your trading account’s email address?
FX fee doesn’t apply to selling?
@AHA I will send you a DM.
@David thank you for informing us. This is really great news!
The FX fee will not be applied till 2.05 when selling from positions opened prior to 3.04. The fee will be charged when the position is opened after 3.04, though. After 3.05, every sell order will have the fee applied.
I am not quite sure whether people are aware of that No currency exchange fee for dividend is almost nothing if you compare to the fee you pay for trading. How many times in a year you get dividend?? Once in a year in a rare case three times a year???
Also, how much money are we talking here. How many percent is your dividend yield? 3% a year and multipklied that with x 0.15% fee ??). How much money are we talking about here? Very small. But I agree small thing is better than nothing.
When you do trade you will pay 2x0.15% for every stock for buy and sell. Imaging you do 10 US trades of a few hundreds US$ a day how much will it cost you ??
I’d argue most people don’t do this though. The FX fee is a traders problem, not an investors.
Also the vast majority of US companies pay 4x a year and some pay monthly.
How did you know most people do not do trading? Do you realize the name of platform is “Trading212” ? So it is mainly for traders rather than Investors.
You are referring to people who are only doing investing, buying ETF, VL40/60 etc. Buy once and forget it. If so, there is no apparent benefit of switching your platform to zero fee platform. It does not make much different with using just using Vanguard, HL, Aj Bell.
Do you realize that a lot of people are doing CFD, Leverage trading ?? and do not forget T212 are making most money from traders from spread, overnight fee, etc. Without them T212 will not be able to effort near zero fees.
I sold one of my existing position today and I see that I have been charged FX fee. Is this expected @David ?
@admins You should really change the front page on https://www.trading212.com/.
-
Website:
-
Today’s Contract Note Statement from Trading212
I’m not complaining, it’s just deceptive for new users.
Edit: I’m taking it back - I didn’t scroll to the bottom! It’s stated clearly!
It was the mail that was kinda misleading.
We found what caused this and it was fixed - we apologize for the inconvenience. I’ll send you a DM to sort this out
Is those dates or times?
Yes but CFD trading has had FX fee since forever? This change is implemented for ISA/Invest. So I fail to see your points in the topic at hand…
I have to say that it is extremely disappointing for 212 to place FX Fee when investing, when they don’t give us the option to hold our account on different currencies. I away trade US stocks and yesterday alone it cost me nearly £200 on FX Fees. This will definitely drive people to go elsewhere.
The invest side is ran almost entirely seperate now and is profitable on its own.
I know you’re irrationally mad, but it would help if you actually read some of the PR Trading 212 put out before formulating an opinion.
I thought we are talking about the profit coming from traders here, are not we ?. Did traders only do CFD?? Did not they do stock trading on ISA and Invest account which contribute to T212 .
Very simple math, I believe. How much money do T212 make from spread, currency exchange fees, amount of cash in the account earning no interest will make if ALL people only do passive investing? a few shares dealing in a year, buy index ETF, VL40/60 and then forget it?
Compare it to the money they make from frequent traders trading on ISA, Invest who are doing a few tradings a day. ??