Trading 212

[Nowler]

Hey folks,

Have any of you used Trading 212 before?
Or know anyone that has?

I see you can buy fractional shares, which is awesome. But I'm wondering what their charges are like.

IG is far too pricey for my liking, and not being able to adjust my leverage down is a warning flag

 

[Nowler]

Apparently they have very low fees.

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Trading 212 review written by investing professionals. Updated for 2023. Everything in one place: pros and cons of fees, trading platform, and investor protection.

brokerchooser.com

 

[Nowler]

I have opened up an account with this lot after mucking around on their platform.
(I'm hoping that opening an ISA with IG doesn't matter as I never deposited anything into it - from what I read, it's likely fine, but I have contacted IG to see if it's classed as active, and if so, I will notify HMRC)

Currently got some duckets in an ISA with Trading 212, but am looking to deposit into their CFD account too and run a side by side comparison with Oanda's CFD fees

So far I really like Trading 212 - very basic!
Give me some candles/lines... a few MA's and volume... bingo, bango, bongo!

Can buy fractional shares with them too!

Let's see what the fees are really like for each of the accounts (ISA/CFD/Invest)

 

[Nowler]

I was enjoying Trading 212... but now they've proper pissed me off.
I have now asked them for the 3rd time how much of my order was filled, and am yet to receive a number.

Surely as my broker, and 72hours after the order went in, they should be able to tell me how much of my order is filled!!
Especially since price has gone up 88% from the price I was quoted when I entered the order

 

[Nowler]

Apparently not a single share was secured for me during the whole day of Friday...
I cancelled the order Sunday night as price was up 88% from where I agreed to buy, but would have assumed that at least some shares were secured for me

"
I hope this email finds you well.

I understand your point and I would like to inform you that both of your orders with Kodal Minerals were canceled.

Additionally, I would like to add that the company is being listed on AIM (Alternative Investment Market) which has different trading specifications. The execution of the orders happens in a specific time every day, meaning that market order might not be executed in a short period of time (it can take up to a few days). Having in mind that, buying shares becomes a pretty hard task.

Furthermore, the actual execution of orders, however, happens via a smart routing system that leads the orders to the regulated markets and provides you with the best execution possible according to the policy of ESMA outlined in MiFID 2. Having said that, I have to stress the fact that the execution venue and the venue supplying our price feed do not have to coincide.

I hope this clarifies the matter for you. "

 

[Nowler]

I'll continue to use them to better gauge things.

To be fair to them, the market is quite illiquid.

 

[trendie]

Keep in mind that if they can be cagey about filling an order to buy something you don't yet have, be aware you could just as easily be trying to get out of a trade, and not get filled, resulting in greater losses than you had bargained for.

Trading itself can be difficult enough, without the added burden of the brokers / market-makers potentially playing against you. I am sure they mean well, though.
Best of luck on these markets.

 

[Nowler]

Keep in mind that if they can be cagey about filling an order to buy something you don't yet have, be aware you could just as easily be trying to get out of a trade, and not get filled, resulting in greater losses than you had bargained for.

Trading itself can be difficult enough, without the added burden of the brokers / market-makers potentially playing against you. I am sure they mean well, though.
Best of luck on these markets.

Exactly!
Anything I have purchased through them so far, I would be happy to hold for 5 years.
Unless something specific to that company (not industry) was to change my mind.
None of it is leveraged either, which definitely helps.

Actually, I am holding a small Silver ETF position.
So I'm not totally leverage free

PS:
Any of the shares I have from big companies were executed pretty quick.

 

[Nowler]

Their customer service isn't great though.
I had to ask for a specific answer 5 times before I got it.
That's actually what set me off... the order not filling was what it was... I am new to buying shares, so there's definitely things I don't yet fully grasp.

Wasting my time drives me nuts!! lol

 

[Ann11]

Yeah, 212 is a nice one, but i am using fbs app, it is much comfortable for me. But if to speak seriously, trading is a very good opportunity to develop yourself and earn money, really great money. I use it like my basic and main job. I am able to make money and it is easy for me. I am an old player and trading became for me as a hobby. I advise you to get it o and use an app. It is the most convenient issue to check everything fastly. I am using it already a year and it is perfect for me. Check it, i am sure you'll like it!

 

[Nowler]

Been using T212 since May 2020.

Impressions?
Meh... 2.5/3 out of 5

The low to no fees for buying shares is definitely the best part about them.
They have a decent amount of options, but frequently dont offer share purchasing in companies I want.
I pissed myself laughing before when I asked about them adding certain companies - they told me to post it in the community forum and if enough people want it, then they will add it. As any investor who is worth his weight in salt will know, if masses of retail investors are interested in something then it's probably time you considered selling, lol

I get why they do this - it's a trade off I am going to have to accept if I want zero fees when buying most shares.

Something that really annoys me about them though is them suspending going long in things!
Haven't been able to increase my platinum position in a while.
Completely missing out on the pull back!

I find it difficult to take profits and aim to buy back lower as there's a decent chance they will suspend going long - meaning I wouldn't be able to buy back my sold position and therefore am left with a sub-par size position going forward.

They also increased their margin requirements for stocks in their CFD accounts - though I was not affected by this as I dont leverage my stocks. I do however leverage my commodity holdings, and if they did the same to that then I would have to immediately act.

If I was a betting man (which I am), I would bet on them increasing the margin requirements on these too - based off my experiences of them so far.

I will continue to us them for stocks, but I am strongly considering closing my CFD account and transferring the money to another provider to bridge the gap in stock offerings.