Trading212 - Important Brexit Update

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Other brokers charge 0 cent for any deposit.
End of the storyā€¦

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Other brokers usually donā€™t offer credit card deposits at all - because of the fees that banks are charging for it.

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89

Nothing in life is free

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90

Then TR212 should stop claiming itā€¦ :wink:

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91

@Indy put it very simple. You clearly donā€™t or wonā€™t understand.
It has nothing to do with T212.

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A different related question : Will Trading212 still carry EU stocks after 31-Dec-2020 ?

E.

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Not if they expand the instant bank transfer to EU countries, which they said will be happening next year.

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And which broker provides a truly 0 fee service?

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Some in US do, in Europe itā€™s only Trading 212.

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Iā€™m not aware of any in the US that donā€™t pull fees somewhere in the system?

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M1 Finance and Webull for example.

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Those two are commission free not fee free or free from skimming off the top of the trades. Both make money from selling order flow.

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I know M1 finance. They are pie only investing, and only have access to 2 market slots which are automated. most people only get market open however those with premium accounts can choose market close.

you cant do anything live or separate from pies. not even on the same level as T212

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What about first trade?

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101

No. M1 makes money from subscriptions and indirectly from fractionals.

Webull makes money from margin interest, market data fees, interest on invested cash, also some from banking fees and lastly from market rebates on NYSE ARCA, they donā€™t sell your orders to front runners like Robinhood.

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First Trade is a great US free broker. But funding it will be a challenge for most EU retail investors, I donā€™t think you can fund it with Revolut, when you try to deposit there they say clearly TW and Revolut not supported.

So you must top up via york bank via wire transfer/SWIFT or ACH if you a US bank account. Probably TW will provide that in the future.

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103

I never precluded other sources of income. But both M1 and Webull do indeed make money from selling order flow

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No. Iā€™m not sure of M1, but Webull doesnā€™t, I use it.

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See rule 606/607 in regards to order flow declarations and data.

Its also on their pricing page (emphasis mine)

We make money the same way every other broker makes money, but with one less revenue line item: commissions. In order to keep the lights on, we optimize the back-end revenue streams that every other broker (traditional or non) utilize to generate revenue. Simply put, these are stock loans, interest on free credit balances, margin interest and payment for order flow. More information on this can be found in our SEC Rule 606 disclosure.

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You are right! Iā€™m actually a bit surprised, I understood the were getting rebates from NYSE directly for adding liquidity instead for PFOF since my order were always routed to NYSE and I could find them on Level 2 on other brokers.

But they indeed have payment for order flows! Thanks for the heads up, I already moved all my funds to Schwab.

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