I’m thinking of opening a 212 ISA and was wondering how many people are using it as a long term investment platform rather than just a tax free frequent trading account?
ISAS are awesome for long term. I have one with HL full of dividend growth investments.
Thanks for the reply, but that’s not quite what I was asking. I was asking about Trading 212’s ISA rather than ISA’s in general, although I suppose as you have your ISA with HL, not trading 212 you obviously don’t think it’s a good platform for the long term?
I have one with HL because I opened it years ago, when Trading 212 was mostly CFD stuff.
I am considering opening one with T212 because I do not want to keep paying £12 per trade.
I do like the path T212 is taking. I just need to understand a bit more their business model as obviously investing for the long term involves a reputable broker.
Just from pure curiosity can we know amount of isa accounts opened via t212? I know about at least one - mine although I’ve just started not so long ago my journey with platform
I also have my ISA with T212.
Imo it is currently the best place with a balance of cost, features and available stocks
T212 ISA is really good. Naturally you have the tax free wrapper, you also will experience the reduced taxation rate on US companies aslong as you make sure your w8ben form is filled out. The only fees are stamp duty on UK stocks and another fee I think applies to EU stocks. The limits on deposits means that I use it for long term rather than frequent trading. New features are being added all the time and the spreads are good.
Thanks for the feedback guys. I have an existing S&S ISA, but have found out that they only allow cash transfers into 212, so I guess I’ll have to wait for the new financial year to take the plunge!
I have recently opened my T 212 ISA and I I use it for both long and short term investing. I also have other investments with Hargreaves and if you ask me T 212 is the best platform so far! When they offer a pension plan I will also be moving all my investments to them. However, it also depends on the amount you’re investing. If you are dealing with big sums then the £12 commissions HL charge don’t really make much of a difference given the service you get from them. But if you are dealing with small sums then it’s a no brainer T 212 is way superior. The £24 goes a long way and it makes all the difference in the world. So if you know what you’re doing you can easily double your investments faster with T 212 than with other commission charging platforms. Also with time I am confident T 212 will only get better and it might even become the best platform for investment management.
These days £24 is either a significant portion of, if not multiple shares in a company you could have bought that is otherwise being siphoned away as a “fee”. T212 eliminates this and if you are worried about the selection of stocks not being enough, they are constantly adding requested stocks that prove to have enough liquidity, as well as looking to add more markets and their resulting listings too.
There are further improvements coming to the transparency of costs and additional instrument details which are happening in real time, whereas with other brokers, any improvements are few and far between, if not delayed by months to years.
They are looking at the Freemium model of keeping everything free while providing some paid services, this is in response to questions from people worried about their income stream from CFD accounts being under threat from EU rulings and regulations in the future. So there’s no worry of suddenly getting charged to use the service you have become accustomed for months/years for free.
all-in-all, a great place to have your ISA as things currently stand and that’s not likely to change anytime soon.
Yes i use 212 for my ISA , its been successful for me so far.
Thanks for all the replies guys. I’m not going to join Trading 212 however as they don’t allow you to transfer your ISA with shares and investments in situ. I’m not willing to sell my investments in order to join, only to have to buy them back at their current market value!
Just sold Tesla today
Great to hear , hope your happy with profits.
Yeah I am I’m going to buy more soon
@damster117 The danger is that you will have to buy them back for more £££ than you sold them, since it can take days/weeks (?) for the transfer of the cash to complete. However, you are permitted to have more than one stocks and shares ISA. So you could leave you existing ISA in place, but start with T212 for the next tax year.
I thought this was the long term investing thread