I don’t think Trading 212 is a proper broker, it’s a CFD meme and I’m not sure how CFD’s work but it’s resulted in like 90% of Trading 212 members losing money
Oh, I use it to trade equities not CFDs. I mean, the high percentage of losses with CFDs is surely explained by the incredibly risky nature of CFDs themselves (as opposed to stocks)?
Edit: btw it’s 72% that lose trading with CFDs
Edit 2: just checked, and it’s an FCA-regulated broker
They do CFDs under a separate account. The Trading and ISA are very much like Freetrade
I found this comparison table on Reddit:
I personally haven’t used Freetrade (only Trading 212), but it essentially seems that Trading 212 is a more developed, cheaper to use, more comprehensive trading platform. I just don’t know why it rarely gets mentioned on these forums - maybe because Feetrade is opening itself up to crowdfunding so many posters are (potential) investors??
Hmm, might be worth transferring my ISA over to Trading212 then. It seems like they have a better pricing model entirely
I’d say so. Here’s another, more detailed table if it helps:
If you are interested in signing up to Trading 212, even just to see what it’s like, PM me and I can send you a referral link to get a free share worth up to £100 when you create an investing account and deposit £1.
I would probably swap to Revolut if they could get the markets, ISA + the ETFs rolling. It’d make my Metal subscription a lot more valuable!
I’ve seen elsewhere that you’re putting a lot of your eggs in the Revolut basket (somewhat in the name of science, and somewhat in the name of potentially getting a compensation payout if they screw up?).
All I can say is that you’re very brave… I’d be terrified after all the stories of people getting locked out of their funds for ages!
Shame, as some of their features really do seem cool. Still, I have a TransferWise Borderless account which, together with my other fintechs, seem to have pretty much all bases covered.
Send me a link, I’ll give it a try, seems worth a punt!
Definitely looks like a better deal than say freetrade.
Make sure to check out the Web app too.
Trading212 wins hands down on costs for an ISA. But I don’t think you can transfer out your Freetrade investments.
I know you can only transfer out a Trading212 ISA as cash, so they sell all your investments when they get the transfer request.
T212 are also missing a few stocks that FreeTrade have.
There’s a lot of fiction to transferring. It could be quite a headache. And presumably you’ll lose on spread and potentially from time out of the market, whatever you do.
Agreed. Need to be quite careful with share transfers.
If it is done as a in specie transfer (e.g. Transferring the actual shares), historically this would cost something between $50-100 per security, per end (Transferring & receiving broker/private bank).
If it is a cash transfer (e.g. The transferring broker sells the shares for cash and then sends the cash to the new broker, who then buys it again), need to be careful if it isn’t within a tax-advantaged wrapper like a S&S ISA, otherwise it resets your cost basis or locks in capital gains/losses.
And then, as @yams points out, there is a mismatch between what Freetrade has and what Trading212 has, so you may not even be able to buy the same shares.
The moment you have a sizable account, you’d be better off with a more professional broker like Interactive Brokers or Charles Schwab.