Donāt forget that you pay hefty transaction cost on IBKR. Only their FX fee is smaller than T212, from 0.15% to 0.02%.
Edit for the capital gain: yes, as I said, amazing that you pay only 1k on this portfolio. Where I am there are no capital gain at all, but most people around here would probably have a much pricer bill.
Iām still trying to work out, if this is really a big deal.
I dont get what they are doing personally(has any other broker?), but looking at the limits, if I were to ever hit one, I would just buy elsewhere. If I started to hit multiple limits, then I would then probably look to move elsewhere.
I suspect the risk part is on 212, and not the customer experience. It might be a strange way of limiting our risk, but all they need to do (I think), is when you buy a stock, show us as a % what our holding would be of the average daily trading volume / lowest volume of the last 90 days and let us make the decision what to do.
I would get limits on small stocks, but nothing in the main indices which is strange to me(even though unreachable by most).
Fairly odd move on some reasonably sized companies.
Thatās my question too. For example you can own $20M worth of Uber and sell it and T212 expects no risks or liquidation issues. But owning $1.5M of Tesla is risky. As I said earlier this seems to be a rushed decision to prevent something they saw coming soon. Lack of clarity leaves room for speculation which is not good.
Another theory is you need to start introducing limits and fees before being able to introduce a subscription-based premium type accounts (with no limits and fx fees).
We have to look at this list from an investor standpoint. Maybe it does not matter now but will matter in a couple years.
Take First Tin or neometals for example, I like both stocks but will be ridiculously limited in just 6 months time frame at my current investing rate.
Also little info around the introduction leaves me a bit concerned. We have had discussions before where the community raised doubts about t212 financial strength. This recent introduction just stirs up the doubts again and leaves many wondering how robust the whole system is. Just my opinion
As you can see, no one here is happy with this decision and an alternative method should be in place instead to let our accounts to be used as freely as we like.
So what happens if your turn a profit above what your allowed to hold. no ones really thought this through and just implementing it in a rush, its not even needed and we as a community here strongly dissagree to it but will our voices be heard.
In my view @Bogi.H it would be nice to have more information on what it is meant, in T212 reply, by manage risk.
Is it because in fact our individual portfolios are added up and make T212 portfolio has a client of IBKR? And this overall portfolio has an overexpusoure to certain instruments?
I also agree with those that commented that we need more informations on what it will happen if any of these limits are reached or surpassed.
I dont see any other broker using this sort of measure, its like your not capable of being responsible with what trades you are and arent allowed to make so we will cap them. As if were school children. Everyone signs up knowing the risks. Should we then ask for refunds on our losses if ridicilous measures like this have been put in place.
XTB has a limit of 100 000 euros per month of transactions (buy/sell). Over that limit you need to pay a fee. But this is an overall ceiling and it is not link to individual instruments.
This is the only instance i am aware where another broker has a ceiling.