On commodities and major indices T212 are now charging interest on short positions, up until last night you accrued interest (obviously as the long pays).
Now long and short are paying interest overnight.
Literally every day changes to the “rules” are being implemented which make having a successful trade more and more difficult/impossible.
Anyone from T212 care to comment?
Yes, thanks for pointing this out. I can’t believe Trade212 has done this surreptitiously, although I guess their T&C s allow them to do this. I’ve got a lot of shorts on the indices knowing I’d get a little interest each night.
The app is seriously going down hill. Any comment from Trade212??
When is this all going to get back to normal?
Will the interest rates turn back to normal?
When will CFDs on stocks and indices return?
Yes, essentially they are lending you money (with an agreed interest rate), then changing the APR without notice or without even telling you at all.
If someone wanted a long term short position they may not necessarily log in regularly they may see all the data they need on the news.
Imagine their surprise logging in 6 months later to find that rather than accruing interest they’ve had their whole account whittled down paying interest.
Yeah , anyone not checking their positions will be in for a shock. I only discovered after reading your post.