The short is that T212 offer their services by piggy backing from Interactive broker, and as far as I understand, there has been some bumps discovered in the testing stage. That’s why support can’t help you further.
If you follow the thread, hopefully you’ll get an update when they’re testing again.
How does it help to have these with different brokers? Surely it is just a spreadsheet exercise. If you wish a quick glance way of seeing how each subset of investments is doing you could make pies for dividend, growth and blue chip.
I thought about transferring shares because of the low interest that ibkr gave (1.80%) on the margin loan. Although I probably wouldn’t use it, it’s nice to have that option. T212 does not offer margin but CFD, which is different and less affordable. IBKR offers options trading, also not sure if I would use them but it’s also nice to have that option. In both cases, I need shares as collateral. Otherwise, there is no point in switching stocks, t212 offers free trading, and although IBKR lowered the prices it is still more expensive than T212.
If anyone knows any other reason, feel free to mention it. I believe there should be no difference in order fulfilment.
Beware of Payment for order flow. My German friends don’t use the local neobrokers because they sell 100% of their orders to shady internalisers like LS Exchange - and you can’t tell at what fx rate you have bought Apple or Tesla with your EUR.
There’s a reason why PFOF has been banned in the UK for 10 years now. It will possibly be banned in the EU soon too. So you will have to change brokers again.
Yes that’s true.
I have the choice between 0.99€ to trade via gettex or I pay 3,99€ + 0,01% of the volume to trade via Xetra.
Maybe I just didn’t saw it but with t212 I don’t have the choice of exchange.
But no one of the Neobrokers is my main broker.
I just thought they are comparable to T212 and they are all offering in and out transfers.
I don´t want to start a fundamental comparison about the pro and cons of Neobroker, t212 and traditional broker.
I just missing this feature and hope that this function will be implemented soon.
You are missing the point. You don’t first choose a stock and then on the exchange to buy it from.
You can choose from a stock listed on NASDAQ, XETRA, or another exchange. (for example, Tesla is available on several exchanges).
But by default, you buy it on the NASDAQ.