Can we get some of those shares?
This doesn’t make sense unless there is some technical issue in the background?
I wish we had someone to actually give us a reason as to why it was done this way.
Exactly what happened with me. I was under the impression everything would get multiplied by 5.
I had 0.18 in TSLA, expecting to wake up to 0.9, but instead it was all cash in my account. By the time I done a search, read on here and realised what had happened, the value had risen by 10%, meaning to put all the money I had back into TSLA, I only got 0.81, 10% less
George has said there are technical reasons it has to happen this way, and that they are also not happy about the current process.
That says to me there is some kind of plan to address this in the future, so we should all appreciate the team acknowledge there are issues and are willing to make changes which will be beneficial to everyone.
I also want to point out that from what I’ve seen, Trading 212 are actually quite receptive to feedback and humble about their mistakes, and I have seen numerous suggestions from the community which have been implemented.
LOL what an ass (me) - thanks, will fix on future videos!
Hahaha - do you own Tesla stock?
I saw this on google & twitter etc. but I don’t understand why it would make the stock drop? Tesla sells 5 billion shares: great. Sound good to me. But I am not a stonk expert.
Yeah, I’d like to understand this better too.
I’d also like to add my voice to those that are expressing a desire for T212 to not handle splits like this in future. Let us keep our fractionals! No forced liquidation!
Its no big deal, just buy the stock with the cash left over.
By the time T212 executes your order the day after the split when the market opens, you can miss out on massive gains. I speak from experience, it’s been painful to watch sometimes!
Yes, but why should we have to?
You don’t have to, you can use services like IGIndex, Interactive Brokers and such, but they all suck a LOT. Trading 212 job is much harder than the likes of Robinhood in the US, I’m sure their dev team would explain the complexity of making transactions in the EU that are compliant for stocks in the US. I imagine it’s a complete nightmare (technically). Try the other trading services and you will see what I mean they all suck. If these stocks were on the UK stock exchange I’m sure it would be a lot easier.
I’m sure it’s all very complex, I don’t doubt that, but at the end of the day, we are consumers. We don’t lower our demands, wishes, expectations etc just because it might be hard for a company to provide what we want. That’s how companies get left behind. This thread is full of people unhappy at T212’s handling of this stock split situation and “it’s difficult to do” and “just buy back the next day” just aren’t answers that are going to cut it
Do we even know if that’s the issue though? As far as I’m aware there hasn’t even been a vague description of what the problem was.
I originally assumed that it must be a compliance issue; but then I learned that other equivalent brokers were able to split all fractional shares, so how can they do it, but Trading 212 can’t?
I’m also getting increasingly concerned about the fact that questions such as this are being asked repeatedly in this topic and yet nobody from Trading 212 is answering them. Is there a reason for that?
I created an eToro account specifically to buy ADA. The user interface in their app is absolutely appalling. I felt it was borderline unusable. I don’t have (m)any complaints about that aspect of Trading 212! I do quite like the way that eToro handled margins though. I plan to post about that in the future, once I fully understand it.
Where’s that acknowledgement and willingness in this topic?
The only acknowledgement that I’ve seen is when @David said they would do a better job in the future of allowing us to figure out how much we received for our fractional shares that we didn’t want to sell.
@Supraman I don’t now the answer either, Tesla seems backward to me… good earnings resulted in a $300 jump off. Annoyed i hadn’t held it longer when shorting this morning as its at $474.
I am starting to feel this way too. Trading 212 team haven’t explained the reasoning behind this properly to us, and Freetrade were able to do the splits. From what I’m seeing on my social media channels, a LOT of people are very annoyed and feel scammed by T212.
One of my friends who has been investing longer than I have has recently started looking into T212 and his first impression was that they are a big scam.
I mean, I know they are regulated by the FCA so that makes me feel better, but I’m starting to lean towards just paying Freetrade for their ISA and moving all my investments to them. It’s making me uncomfortable as I have started promoting T212 on my Youtube and a lot of people are signing up. But I suppose a video warning people of how badly T212 treats customers can do just as well.
Every time I’ve contacted customer services my questions haven’t been answered properly. I don’t know if it’s just the people I speak to or whether it’s on purpose. Getting very frustrated.
I remember a few months ago when Trading212 were having these kind of issues with transparency and communication and it looked like they listened however since the pandemic it’s been a bit quiet and gives the impression they are working on a skeleton crew.
Other people have reported issues with ISA stocks which shouldn’t be there, the communication around that and stock splits, etc.
All of this doesn’t look good and people’s confidence might diminish in these testing times. I hope they get to communicate a lot better and be more transparent. They are quick to show progress with number of ISA accounts and pin the post but not when it comes to stock split and ISA issue.
Hopefully this will improve.