UPDATE on T212 terms & conditions

Wow guys :joy:

I didnā€™t realise Paul has already published a video on the topic, I am actually watching it right now!
Itā€™s sad that you (@Briscoe) had to do a separate video to explain that, but I think itā€™s still helpful.
People (retail investors, including me) arenā€™t very smart and need ā€œfor dummiesā€ videos, especially when other content creators are exploiting this implying whatever the todayā€™s FUD occasion.
Thanks to both of you!

Edit: Me from the future, watched it till the end - that was a great ā€œshameless plugā€ during the last seconds! :rofl:

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For the record, I am not smart and I know there will be things that are incorrect in my video (it is supposed to be a light and general view of the subject).

Do not base decisions on what anyone on the internet says.

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the final nail in the coffin for this topic;

Every comment on the video in question that disagreed with the published opinion, or that answered the questions posted by others in the comments section with facts and source references, are being systematically deleted one after another. these are comments that were receiving likes and replies from even other commenters and viewers of the video.

can anyone find me the recognized definition of ā€œecho-chamberā€?

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After reading some of comments on the mentioned video, I think that the Youtuber have made a good service for T212 and us. As he scared the illiterate and conspiracy theorists away from T212 and this forum. Thanks. (Iā€™m not being ironic.)

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Iā€™d be surprised if they donā€™t go down some legal route for this.

To be fair, if something is not clear then it leaves the way for others to inject their own meaning; we all do it - itā€™s a survival mechanism.

T212 does have a communications issue, and recent events have made people understandably nervous, so it should not be a surprise that every move will be scrutinised.

Maybe T212ā€™s legal team could include a ā€œplain Englishā€ summary of its new or amended clauses in future, as other companies do?

If anything, the video has triggered a discussion which has prompted clarification and hopefully cleared things up.

The problem remains, though: T212 needs to get in front of communications and be more transparent and not leave it to strangers on the forum to defend its corner.

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The thing is T212s Ts&Cs are no more complicated than any other broker.

I agree itā€™s the scrutinised aspect, no one is going through eToro or DEGIRO and posting videos trying to interpret the changes between revisions.

They could however take a leaf out of Monzoā€™s book and try to write Terms in sentences which everyone can understand and reduce the ambiguity.

There shouldnā€™t ever be a section that makes you say well

:thinking: what actually does that mean, Iā€™ve read that five times and still havenā€™t got a clue :face_with_raised_eyebrow:

or

:thinking: well that bit contradicts this bit, it says Iā€™m covered here but this doesnā€™t look like it here :exploding_head:

Funny because its true

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Yeah but the dummies make me money. More lemmings mean I get better prices then I can sell to them at all time highs. Double edged sword amigo.

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They are still there, but buy/sell from another house. Now the hot potato is on the other side. :slight_smile:

Fantastic, the more simps we can get into this the more I can harvest from them.

Good day today on the FTSE.

Same topic video, but without the sensationalism:

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A not emotional or sensationalist youtuber trying to sell something.

I like his expression, ā€œyoutubers with pants on fireā€. :slight_smile:

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Thatā€™s a good video. Covering what needs covering without trying to burn the world.

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And it turned out this guy actually is a certified financial advisor.
(yeah, so is conversationonmoney, at least he underscores it in each of the videos I watched, but man, you can spot the difference in attitude!)

Isnā€™t that the reason why a good video like this gets 280 views and Sashaā€™s ā€œbombā€ video gets 15k views (20+ times more)?

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Isnā€™t the same with tabloids newspapers vs. ā€œnormalā€ newspapers? And the TV channels?

Not to mention the social networks posts with sensationalist (and misinformation/fake) contents.

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6 posts were merged into an existing topic: Introduction of FX Conversion Fee

Hey there, firstly thank you for sharing my video. I am very pleased to see it has come across in the way I had intended, balanced and fair.

Clickbait and sensationalism was started by mainstream media years and years ago, but Youtubers really take it to another level sometimes and, in truth, it drives me up the wall.

The reality is, we need to ā€˜sellā€™ the idea of a video to get you to watch, but it seems to me that some people have a different idea of where to draw the line. Iā€™m not singling anyone out here, just talking generally.

Anyway, thanks again for sharing and I hope it is helpful in some way, to someone.

Tom (That Finance Show)

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Thank you for clarifying.
To add some support to this, people need to understand that T212 is regulated!! The FCA is not sitting around doing nothing!

They have processes in place to ensure retail investors arenā€™t getting done by providersā€¦
https://www.handbook.fca.org.uk/handbook/SUP/1A/3.html

Mic drop.

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@ThatFinanceShow nice video. Interesting you got to a similar view at the end. It will be interesting to see if/what other markets materialise in the future.

Surely the simplest solution would be to create a pure nominee holding company so that you can clearly head off any of these issues?

That way you have very clear separation of client assets.

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