Well, itās more a personal thing, Iām on tech world for more than 15 years, I donāt buy beautiful words of āwe want to change the worldā and blablabla.
I do really thing that T212 is doing a great job so far, my point is that CFD is something that I donāt like for moral reasonsā¦ as I said, personal thing, so I donāt like the idea of a company that I will put all my life savings for decades that strongly relies on something that I donāt approve, ethnically speaking (again, itās personal), to runs its business.
I do understand that until short ago T212 was a trading platform, that didnāt really focused on retail investors, so it has a big percentage of users that cares only on trading/gambling/speculating and they do profit on them.
Iām really encouraged by this response. T212 seems to have a laser-like focus on giving customers what they want insofar as itās possible, with staff building a platform that they themselves would want to use. Keep to that strategy and the competitionās got no chance.
What will happen if CFDās are banned in Europe as is currently being suggested online? Will Trading212 then have to introduce a paid subscription service for its basic features?
I am a big fan of the features of Trading212 and a big draw for me was the no fee ISA (Freetrade charge Ā£3 a month) - will a few eventually be introduced for this?
Hi @Dazza2387, is there a source for the CFD ban?
If its just rumours then I donāt think it is a big deal at this stage, as if it is a law then it may well take years to be developed and approved.
Nothing recent in the news, the main source recently has been speculation in online forums (including the Freetrade community).
I know you shouldnāt rely on speculation in forums, Iām just thinking lots of investors may switch from Freetrade to Trading212 following the announcement of the Plus account and I think lots of people will want reassurance that they wonāt move to Freetrade and then it is announced that Trading212 are introducing fees for basic features.
Thatās just scaremongering on Feetradeās part. I was put off switching for a long time because of that sort of thing but I cannot speak highly enough of my experience since switching to T212
Same, Iām very happy with Trading212 - auto invest and fractional shares in U.K. stocks has been a real game changer for me. I am definitely a long term Trading212 customer now.
I would pay for the pie feature as I have not seen it anywhere else and it looks neat!
A post explaining the current legal environment and projections over the next few years would be great. After googling I could find that CFDs have already been banned in Belgium, for example.
Werenāt they banned about four/five years ago for retail customers? I think that was isolated. I think you can still do CFDs in Belgium but you have to declare yourself pro. Not sure how you are meant to go from nothing to pro, as it can take years to master.
Would have been better forcing a minimum practice mode (like 6 mths) with the same amount of virtual funds they they have in real life for retail customers.
Every single week we are setting new records with our Invest and ISA accounts. We are now the second biggest broker in the UK in terms of number of accounts (500,000+).
We definitely donāt feel like people lack confidence in us and we donāt want to spend our energy on defending our business model simply because we donāt fit into the VC/crowdfunding cliche.
Weād rather leave that to some other companies without business model and revenue.
Freetrade were on Sky News yesterday and were reported to be the second biggest retail broker in the U.K. with 200,000 subscribers - that must make Trading212 number 1!
Theyāre the second biggest by number of trades. Freetrade is an official member of the London Stock Exchange, whereas T212 arenāt (as they route their orders through IB). Minor behind the scenes technical difference that allows Freetrade to market such a claim, even though T212 have more customers.
Itās not necessary; the main thing is being FCA regulated and compliance with best execution & protection of client assets which theyāre no worries.
Have a read of this and may answer your questions:
I understand the FCA regulation for cash, which is great. What Iām slightly unclear on having read the thread is the protection of my shares; if T212 goes out of business (Iām confident it wonāt) are my shares protected from the companyās creditors meaning I will retain them regardless of the creditors entitlements?
How do you achieve this? Is it the recently introduced lending of assets? If so, itās good to hear youāre doing very well out of it. Iād love the ability to lend out my own shares, but I donāt think we can complain given the product weāre getting for free
Just this for Ā£10/ month. What a waste of money. First of all Ā£10 is too much for any add on services which we already have here for free with T212.
However, I will pay Ā£4.99/month for access to borrow up to 75% against portfolio, with free access to paid subscription like morningstar etc, with ability to buy or sell pre and/or post market opening. Basically similar or better than what Robinhood is offering.
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