I really love Trading 212, the platform and the community, but yesterday I made a decision to move my funds and continue my investment and trading with a local broker in Sweden.
As is the case with many places, Sweden has different types of savings and investments accounts, each preferable in different way. The investeringssparkonto (ISK) is Sweden’s investing saving account; guess that what ISA I am reading about from fellow Brits on this forum. The ISK is not taxed for capital gains, and you don’t need to report account activity to the Swedish tax agency, I guess only dividends are different and there is an Endowment Insurance Account that works better with foreign dividends.
I really love the aesthetics and power of Trading 212’s web and Mobile apps; charts, pies, auo-invest…etc But I am into investing and trading first and foremost to maximize my savings without a lot of hassle doing so, and until an ISK is made available on a platform, I think it would be more efficient to stuck to the less appealing and feature-poor local banks and brokers with such peace of mind offered.
Hope this is in the plan, even if it isthe long-term one, and I will sure be keeping an eye to come back whenever this is offered.
Can you even imagine the regulatory mess this causes when they have special account types for every country?
I’d rather to first get all basic market features before starting anything like this.
I didn’t know about that… already try to check it but didn’t find much.
Do you know anything about these Germans accounts?
Actually this and also availability of Xetra hosted stocks/ETFs are the only reasons I still consider move my investment to TradeRepublic or another European company, not UK company.
What do you mean? They are already in a regulatory jungle. Just providing ISA for UK, means they loose out on a lot of actual long term users. Which means business.
Maybe you don’t understand their business model and the competition that’s out there.
Trade Republic has managed to secure a very solid position in the German and Austrian market - they even automatically do your taxes and deduct the CGT on every sell side - you probably know how much headaches and days that saves and makes your life so much easier.
I would like to move more of my investments to TR - since they even introduced Aktien Sparplan, also paying 1 euro is not as bad paying 5$ to IBKR I do currently. Since I’m using T212 and TR for long term, it doesn’t matter and Sparplan makes it free and easy.
They are called Riester Rente und Rürup Rente. They are tax advantaged and wrapped. Both have their nach und Vorteile. I don’t understand them honestly.
maybe you could just bring actual arguments instead of belittling others and just claiming that T212 is losing PROFITABLE business by not providing >40 different account types for Europe alone.
No company in their sane mind starts offering 40+ account types at once, they start one by one and strategically choose markets with a low entry barrier to start with and then move to saturated markets with less worries of resources running out and increasing their chances of success.
I’m a business owner and if you are belittled by this little, I won’t feed you more.
That’s the strategy to but how will this generate profit that outweighs the additional efforts needed?
Not to speak from the delays of other features already planned that benefits ALL users.
