Should Trading212 now change their Front page?

And proper tax reports.

Is surprising that a FCA’s authorized financial institution offer such a poor tax report.

It’s amazing that Trading 212 is a British company, if we don’t know that, we will never get that by seeing their legal compliance with reporting.

Perhaps when the Nationals Tax Authorities start to ask tax information to HRMC about the Trading 212, Trading 212 will do correct tax reports (and have some fines from the authorities).

2 Likes

[quote=ā€œRLX, post:43, topic:47020, full:trueā€]

Can anybody tell me why my previous post was flagged??

Is offensive or have any wrong information or violate any forum rules?

2 Likes

No clue, wish I could see who is flagging all this stuff, this forum is as bad as the FreeTrade one now, every fifth message is flagged

2 Likes

I suppose we get what we pay for. ā€œFreeā€ services = free headaches. :smiley:

(Let’s see if this post is also flagged. We are walking on top of egg shells.)

There is un-flag option but admins need to enable it for R4 to be able to remove flags.

@ OP
:duck: was in fact incarcerated for several months for his vigilante behavior on the community’s, he just got out recently, I would caution everyone, that is one dangerous :duck: …

3 Likes

Clarification. An FX fee would NOT only apply to USA stocks. It applies to any exchange rate on T212.

I imagine that it will also apply to the Euro-GBP conversion. For example, if a UK investor with an account in GBP buys stocks of Airbus on the Paris Exchange, they will also pay the 0.15% FX charge when both buying and selling.

1 Like

I don’t flag anymore. I flagged someone for lying and got banned for a month.

3 Likes

@Team212 Then, please remove

Zero commission, zero fees.

From home page → Products:

Screen Shot 2021-03-08 at 10.45.34

Trading212 is no longer free :broken_heart:


** Not only due to this change but, cause of prior changes like 2000€$ limitation on bank transfers.

3 Likes

Is there really a limit of 2000€ on bank transfers?

No. They have confused themselves on the free transfer of 2000 by card before it starts charging 0.7%. The fx fee also does not appear as a separate fee so the front page does not need to change.

1 Like

Since when do fees have to be separate? Cant follow this logic at all. ā€œFeeā€ is used on the frontpage as advertisement and implies what the ā€œcommonā€ people understand. This is no lawyer nitpicking or whatever. Fees are fees. Fees are there and have even increased.

4 Likes

We don’t know that fx fees won’t be listed separately (I’d be disappointed if they weren’t to be honest as that would be less transparent if they were just hidden in the price).

Regardless of whether the fees are listed separately, they are still fees! Not sure why you are fixating on ā€œseparateā€. The graphic says zero fees which will be clearly incorrect…

1 Like

when it comes to claims companies can make, whether its baked in or charged separately does matter :man_shrugging:. based on the original announcement post, you can see the fx rate is adjusted during the conversion and not afterwards.

it’s like how people will insist one of their cards allows them to convert across currencies free of charge, but ignore that the FX rate is adjusted and not at spot rate. Most retail clients, don’t spend or invest at a large enough balance to even see the effects of 0.15% which is well within the margin of error of daily fx fluctuations.

In other words, T212 do not charge a fee on currency exchange, but they apply their own exchange rate, which is 0.15% above/below the Fx rate.

I think T212 as asked in other threads should now allow people to transfer out if they wish, previously it was a ā€˜free’ service but is not definitely not what it was. If within say 2-3 months transfer out are not allowed I can only deduce T212 is wanting to suck people in and keep them here not through a good service but through physically making it difficult.

Note I am not looking to transfer as currently satisfied, but would not keep a big portfolio here until I knew it could be transferred out without liquidation of stocks.

2 Likes

the legal documents were recently adjusted to say its not supported, so I would assume that means no ā€˜in-specie’ for at least a year. just cash transfers or withdrawals.

1 Like

Yes I understand, but my comments still stands. New business/apps etc often fail in the couple of years after a run of success, so hoping T212 matures as its customers needs do, rather than slower otherwise it wont be great for the rest of us as revenues will dry and these already slow delays increased further and end up vicious circle.

We are so spoilt in the U.K. and US especially with the Trading platforms and investing opportunities we have. People in other parts of the world could only dream of what we have at our disposal including access to Trading 212. If all the business we invest in did everything for free we wouldn’t have a stock market as they would all have gone pop.
It is of course everyone’s free choice to use which platform they like :+1:t3:

4 Likes

The position transfer was never offered so I don’t think we can blame them that they stopped it now… it was justified at least im the legal docs

I may be ignorant here (sorry about which), but if i have a position A with current profit of the 100€, i close it here and rebuy instantly with another company (same instrument, same quantity), then I’m not losing anything right (just potential fees can be applied)?

You lose the spread amount, and you potentially need to pay capital gains tax (which will have to be paid sooner or later anyway)

1 Like