@Dao when the #1 feature request is multicurrency accounts, being discussed at length in these forums, and people are saying they will leave if T212 does not implement this, I call this a market trend.
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I agree we need some clarification from @Team212.
Is this you are planning to do, or you have no plans at all?
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Itās great you are trying to explain the situation but we need statement from T212 team.
A lot of people cannot deposit money without fees anymore and are not willing to spend 0.7% when other customers of T212 can easily wire the money for free.
I love T212 and would love to deposit monthly and buy stocks but I wonāt until there is a way for me to do so without fees.
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@Richard.W I see a lot of difference in the exchange rate of Quid and Euro. I mean I am getting around more than 60 Euro in just currency exchange rate. so If I sell now Iāll also make more Euros because Quid is getting stronger. It is also in other stocks the way around, USD is falling in comparison to Euro. So if I sell now Iāll get more loss due to currency devaluation but in future it is possible that USD again gains back value but I have made the loss already since I have converted my USD to Euro, I could have hold the USD in same currency if functionality allows it.
There will be never multi currency account because with the new FX exchange fee trading212 will earn much more money if they donāt make a multi currency accounts. That is the reason the planned multi currency account was canceled. Very clever and it shows what kind of company trading 212 is going to beā¦
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great, so how many people voted for the feature out of the 1.4million clients T212 has? this would be a platform trend. now if all people were looking for brokers based on this, that would be a market trend. The market trend is ācommission freeā that is driving clients to new brokers and away from the old expensive brokers that have yet to change. T212 is not behind the trend here at all, they are leading it for Europe.
As an economist I feel that is the general view of most people, but that is an incomplete and misinformed view of them. 
We say āwhat & whenā at the same time, but we also say that they are forecasts, meaning that the models are made based on probabilities and are affected by a very important and relevant variable in the models, the Error. (There are other constraints, such the quality of the data, the quality of model, etc.)
An economic misconception in Economic Theory is that the humans are always rational, the Homo Economicus, but that distort all models. Just see the FOMO, FUD, herd behavior, meme stocks and other behavioral economics and finance phenomenons.
With the Introduction of FX Conversion Fee, it means that Trading 212 will now introduce multicurrency accounts?
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No, why should they? They earn money with each dividend payed twice 0.15% (=0.3%) and buying stocks (0.15%) and selling (0.15%) too. So they have certainly no interest in multicurrency accounts.
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I have just searched and it seems the majority of brokers has multicurrencyā¦ So T212 is leading for Europoe???
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Leading on what, added fees in the past year?
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Is the minimum we can expect, or at least some update. . . . . when???
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Gonna move to Interactive Brokers if we donāt get multicurrency account.
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Would you care to elaborate as to why?
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They have to make money of the FX fees of course.
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Its quite obvious if you look at the pattern of new things thats been happening to T212 ( fee on deposits and now fee on FX) that it was part of the original business model. Entice customers with very good deal ( practically make investing completely free, give out free shares for referring people etc ) and when you have built up enough customers start increasing prices. My guess is within the near future T212 will be on the same level as their competitors that charge fees that they currently pride themselves as being better than.
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Actually I sold everything yesterday and moving my funds to my primary broker, IBKR.
No FX fees, access to every security out there. US fractional shares and maybe EU/UK coming soon too. Also Iāve a Portfolio Margin account so I can have more bang for my buck and make the most out of this buying the dip chance!
Honestly it is a bit sad, I had invited almost 2 dozen friends and colleagues to T212, now Iāve to explain to them about these charges while I so proudly said T212 will never charge fees.
Disclaimer: I pay 100-300$ a month to IBKR in commissions, but my style of investing/trading is different, including options trading and significant volume. For a buy and hold investor, they are amazing too!
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Yes, this is not greatā¦
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Yes, maybe itās time to close the shop at Trading 212 and go elsewhere, where the service is better, even if paying for quality. Sometimes cheaper products/services became more expensive later, due to the correction of their errors.
Trading 212 quality is becoming worse:
- Widening delay on dividends payment
- Lack of proper tax report
- Lack of information on Currency Rates applied on dividends and taxes withhold
- Strange tax reports on movements: e.g. transactions with the same currency of the account, instead of Currency Rates being 1.00, due to no currency conversion, the Currency Rates are all over the places, <1.00 or >1.00, is rare to have a same currency transaction/account being the correct 1.00.
Notice that I even donāt mention the introduction of 2 new fees in the last 2 months.
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No ISA so pretty useless for any UK investors wanting to invest tax free. Shame platform looks decent.