Trading 212

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20th Jan by gmtrader

8 comments 306 reads

I am considering opening up a new stocks isa and wondered what peoples opinions are of Trading 212? It seems to be too good with no trading costs, no monthly fees and offering 4.9% interest on any cash not deployed.

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About the Author

Gmtrader

Premium Member

8 comments

af20001

20th Jan

I use it, although it has 2 major drawbacks as far as I'm concerned.

1. There is no quote given before you buy or sell, it's just placed as a market order.

2. Smaller stocks don't generally get executed until the end of the day, so you're even more in the dark.

So if you're going to use it for mid to long term trades in larger, liquid stocks it's ok, but I wouldn't use it for short term trading on AIM stocks.

gmtrader

20th Jan

Ok, thank you. One to avoid then.

Rorysdad

20th Jan

I have HL, AJ Bell, ii and IG.

IG is the cheapest at £3 a trade (buy or sell). Never had a problem with them and you get quotes before you buy / sell. I try to use them if i can out of the 4.

stehuk

20th Jan

I use trading212 for some things and like it a lot. To add to what af2001 wrote on drawbacks: the ASX1 segment of AIM is not covered at all. On the other hand FX charges are very low and the ISA is a flexible ISA. You can do limit orders as well as market orders.

Remember that you can open and contribute to multiple stocks and shares ISAs in the same year. So I do this and use whichever platform I think is best for what I'm investing in and in what quantity.

N0vice1Nvest0r

21st Jan

I used to use Freetrade, they were ok but I didn't see the point in paying premium at £12.99 a month when this could go into my investment or towards Stockopedia subscription.

Freetrade was alright and would execute instantly, however I don't believe they work like that its more like they honour the price you bought at.

Whereas now I'm with Trading 212, they have a similar amount of shares as Fretrade and for me it's a better app/website. But the difference is the delay, some trades are instant, some limit orders don't go through for hours.

The US market has excellent volume and most execute instantly or within 5 minutes. However with the UK market it is very hit and miss with execution.Definitely not as much volume and often buying at a higher price. It's a good website/app and I'm happy to use it.

It has absolutely nailed the US market with choice and price executions, and love the 'after hours' trading and 'early trading' hours that weren't available on Freetrade.

Overall I'm happy, its been a solid year, but there is definitely room for improvement with the UK market options and price executions, but it must be noted that every stop loss I have set has triggered and not blown through. sometimes triggered and even got a better price. So at least they are fairly reliable at saving a trade.

The only issue I would put out there is personally I wouldn't put all my eggs in one basket. so don't have your ISA, stocks and shares ISA all with one broker. Nothing to do with Trading212 being dodgy or a dull future. Just more for piece of mind. Should the poop hit the fan, yes you'll get your investments back, but id be happier being unable to access some of my investments rather than not being to access all my investments. I keep my ISA separate to my stocks and shares ISA.

WimborneMiser

21st Jan

I use IG for spreadbetting (when I find the time) and AJBell for ISA & SIPP

For the first 6 months of 24, AJB had far too many outage problems for my liking when the platform was down for 'maintenance', including some weekends from Fri-Sun evening.

The dealing charge dropped to £5 last year

HL I wouldn't trust them with a bargepole after the Woodford fiasco and how they kept ramping his fund

The cash int rates at 212 is exceptional, this is AJB's

Jon F

21st Jan

In common with others, I find 212 great for large caps and the US, but next to useless for AIM.

Plus, personally, I find their dashboard very difficult to navigate and record keeping, difficult.

All in comparison to ii that I use as well.

Regards,

Jon

JSchoffer

21st Jan

A recent update on T212 has been great - unlike some other providers who show just open positions in a profit/loss figure, they have moved to a 'total return' which shows in absolute terms what your portfolio has made.

The rate of return also takes into account how long funds have been available to the portfolio, so if you lump sum at the start of the allowance period it doesnt skew your return % as it gives less weighting to recent money.

Another interesting feature is 'pies'. You can group together investments into a mini portfolio and track performance, I've used this to test out screens and called it 'QVM dec 24' for example. You can then track the performance of those companies as one.

As others have mentioned its not fantastic at smaller cap UK stocks but I think the interface and features make up for this.

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Gmtrader

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