I just opened a Stocks and Shares ISA on another trading platform but would like to also use Trading 212 ISA. Can I open another ISA with you or am I limited to just one?
UK regulations state you can only open a single ISA of each type per tax year. so you will have to wait for april to open with T212.
additionally you can only pay into a single type of ISA in each year so if you make and deposit into a stock and shares ISA with T212 next tax year, you will not be allowed to deposit into your other one.
Thanks @Dao, appreciate the help! Shame you can’t pay into two ISAs at the same time. I guess I’ll just have to figure out which account will give me a greater return and make that my main ISA.
You can pay into 4 ISAs as long as they are different types, the issue here is that they are both stocks and shares so you have to pick 1 for the tax year. you can always hop between them both I guess, but I dont see much need for more than a single stocks ISA unless you plan to transfer from 1 broker to the other.
T212 is essentially unrivalled in the UK as far as brokers go. no matter who you look at, they will all either charge you fees or limit your trades. don’t worry about stocks T212 does not have compared to others because every 2-3 weeks seems to see a big bulk of roughly 70 new stocks and many ETFs added to the list.
plus the community here is open and helpful should you have any confusions or issues (even if we do dissagree on things. its the stockmarket, it would be weird if we didnt! xD). Staff are super responsive and the platform only gets better with time while many others stagnate for years.
whats not to love
As Dao explained - a person is allowed to have up to one ISA account (of the same type). Nevertheless, we do support ISA transfers - both in and out. Just saying
@Dao Thank you for the support
I have a question related to this topic and can’t find a reply.
I opened a Share and Stock Isa in the 2019/20 Tax year with Trading 212 and one with another provider for the 2020/21 tax year.
I love Trading 212 as a platform (for my use is fantastic for shares & etf), but I decided to have a second platform just to invest into certain funds.
my question is: can I still do operations (i.e. buy stocks) with the balance available in the T212 account opened last tax year?
I already know that in this tax year I can only deposit in one provider and to further deposit in T212 ISA I have to wait the next tax year (if I want to deposit this year I have to use T212 invest).
thanks in advance for your replies.
Yes. You can continue to trade and and reinvest dividend income in last year’s ISA.