Can We Really Trust Trading 212?
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- Опубликовано: 25 июн 2024
- Trading 212 are now back open, but before you sign up there are a number of things users must consider. In todays video we will discuss them all.
Do you want to get free shares worth up to £100?
Join Trading 212 Invest with my link, and we will both get free shares.
www.trading212.com/invite/Gba...
input promo Code: Gbassinv if the link doesn't work
Links from the video:
Information on the Limits, if the link does not work the email was sent on the 5/08/2022
helpcentre.trading212.com/hc/...
Trading 212 Companies House
find-and-update.company-infor...
Other investing platforms I use:
InvestEngine
investengine.pxf.io/eKR40z
Get a £25 bonus when you invest at least £100
Vanguard:
www.vanguardinvestor.co.uk/
This is not an affiliate link
Timestamps:
00:00 - After Months Of Waiting.
01:25 - What Has Been Going On?
04:00 - Communication
07:33 - Share Lending
08:40 - Limits
10:13 - Going Bust
12:28 - Full Disclosure
DISCLAIMER: Some of these links may be affiliate links. If you purchase a product or service using one of these links, I will receive a small commission from the seller. There will be no additional charge for you.
DISCLAIMER: I am not a financial advisor and none of the content on this channel is financial advice. All information is provided for educational/entertainment purposes. If you are making investment or other financial decisions and require advice, please consult a suitably qualified licensed professional.
I should have clarified in the video sorry. It was Freetrade who got a video pulled from the platform and in my opinion the creator raising issues with their promotion scheme was fully justified in their criticism. Funnily enough the FCA restricted the scheme following these comments which showed the regulator also agreed.
No don’t trust Trading 212, they scammed me and closed my positions. Cost me over £12k
Hi @DamienTalksMoney, Can you please create a video on the nominated beneficiary system:
Is there a nominated beneficiary system in Trading212 to allow the transfer of shares in case of my untimely demise before closing down my account?
On my death, will anyone know about these? Can I nominate someone to inherit them?
Thank you!
I switched to Trading 212 in 2020 and I am not going back to paying high fees for lower quality platforms (even though they are "reputable"). I believe more people should be aware of DCA and T212's Pies and AutoInvest feature. This literally made me more disciplined and smarter when it comes to investing. I've recommended T212 to everyone close to me and so far no one has been disappointed.
SIgned up to 212 using your link. Wanted to get into a bit of trading like this and it looks a good platform. If their main downfall is communication, I feel this is something they will hopefully work on. At the end of the day, as long as the business is sound, I don't really care what they communicate and don't. Sometimes the less said, the better
Nice update, Damo. Your clear knowledge and research is really reassuring on these topics. I’m a longtime fan and will be here for a long time more!
Quality video Damo 👏 I’ve been using T212 since March 2020 and no plans of changing that anytime soon. I’m a big fan of their platform. Hope you’re feeling back to your normal self soon! 👌
Another great video, THANKS! I am one of those people who wanted to get i to investing and when they shut the doors I decided not to try. It wasnt until they opened again and I came across one of your videos I decided to start. Like others I wish I had started years ago but happy I have now. Im sticking with 2-1-2 for now while I finishing learning and get myself comfortable!
I was the same and I used Damos link. Good luck with investing. 🖖
Thanks for this video. Answered most of the questions rattling around in my head. You’ve worked hard to gain the trust of your viewers. Your honesty, transparency and integrity is clear to regular viewers of your content. It takes time and effort to do that. Well played. Keep up the excellent work.
Starting my trading 212 journey. great bit of information. Fully subscribed!!!
Thanks for the transparency Damo, much appreciated for your hard work.
Thanks for putting the work in, and also putting my mind at ease. I'm happy to continue using the service knowing my money is safe.
Great video Damien I’ve been with 212 for a few years know and hadn’t considered several of your points very interesting - and your honesty is always appreciated!
Really appreciate your thoughts and content fella, especially when you’re felling rough. Hope you feel better soon 👍🏻
Always appreciate you showing up mate! Also look for your comments. Thank you as always and have a great Sunday!
Another great video. Really enjoy watching your videos 👍🏼
Thank you! So glad you enjoy them
Love T212 usability, easy to switch funds from Invest account to ISA. Which is not the case with Freetrade.Many Thanks for your fantastic helpful and genuinely unbiased channel Damien you are a star.
Thanks Damien. Especially like your full disclosure part
I am glad it came across well and appreciate you watching it all the way
Hey just used your referral link, love your channel their was other guys I watch but I think a lot of people like myself use your link as you provide honest content, theirs a lot of scam artists on RUclips and your as genuine as it gets, thanks for great content
Legend Matt thank you so much for this lovely feedback and for using the link
Great information, thx mate!! Just started using 212 and came straight to you as a sense check 🙏
Also, Tremors, legendary movie!
I will keep my calm and 'safe' ISA hehehe. Good video!
I have been with T212 for over 2 years and I have to say that between the free trading platforms T212 are the best for many reasons:
- Usability
- Best pie feature
- Cost
- Features are for everyone unlike Freetrade (I like them but now most Features and shares/etfs are behind a paywall).
Thank you very much for your video
Equally used it for just under 2 years now and the usability is excellent. I noticed the changes to the charts on the app which can be annoying like the 1d 5d etc but using the website on PC nothing has changed
@@Xopher222 I saw that too, just need to get used, app is much better than the website
@@damianonana I prefer website tbh each to their own!
I recently got notified I can open my account with T212, I have been using Freetrade but I think trading is a much better app to use with more stats and company info. Now I know more about the T212 I think I’ll be using it more and more Thank you again Damo for all the research you do 👍
You are welcome Adam! I use both 212 and freetrade and honestly I find 212 is a better experience
Thanks for the video, and transparency & detail
You are very welcome! Thank you for watching
Some really good points, also helps put me at ease with 212. FYI I actually LOLed at the "life of Brian" clip.
Life of brain is honestly one of the best movies ever in my opinion
Hope you feel better soon, Damo. looking forward to more singing and dancing.
🤣🤣🤣 you might regret that statement at one point David. I am a terrible dancer
I've been with trading 212 for multiple years now. I have no complaints and really like the service they provide.
FACT
strange, they kept my money captive for half a year, and the costumer support is literally fraudulent
@@Archonsx strange sounds like a you problem, I've never had an issue with withdrawals and I've been using them for about 4 years and I have 50k with them
@@zobtastik that’s because they target people outside of UK, it’s harder for us to sue them and recover our money, i’m not the only victim, there’s HUNDREDS of people with the same issue on forums
Love your content, get well soon.
Thank you 🙏🏻
I think they look and from hearing from my friends who are customers are very good. I did originally want to open an ISA with T121. However, because they were closed to new customers for so long, I decided to just open an ISA with Vanguard as I only want to invest in low cost index funds for the long term. I've been very happy with this so far and not having the app has been good for me personally.
Superb video - Thanks
I've just opened an account with them.
Awesome never heard of CASS rules thank you!
Firstly, get well soon Damo! Second, amazing video. I have been using trading 212 as my primary platform for my ISA for the last 3 years and questioned their no fees business model till the introduced FX fees and also profit on the spread (if that's the right term - pennies more for each share).. I've sent out a few referral links to friends and family once they started onboarding new users but most already have accounts with other platforms and invest in ETFs on platforms such as invest engine and not so much in individual shares. Shout out for looking up company house and pulling up information ☺️.
No, they do NOT profit from the spread. This is a common misconception and has been discussed many times. It is illegal to apply spread markup (as per the MiFID II directive) - with Trading 212 you get the raw spreads.
They make money only from CFD spread, not Invest and ISA.
@@NightElff88 thanks for clarifying 👍🏽🙂
Great video Damo been waiting for this for what seems like ages lol..
You are welcome mate! Thank you so much for watching
I don’t work for t212. I have used them for 4 years and I have never had any issues with them (other than at some point orders were delayed as their platform couldn’t cope with the demand but I think is now now resolved). Withdrawing money is easy and no hassle. Yes I would like more communication from them regarding corporate changes but overall, great platform
Said it better than i could! Thank you
Hi Damien. I know this is “your opinion” not “advice”. However thank you for being the best financial advisor I’ve never had or paid directly. Those I did pay always gave me bad and costly advice. You live and learn. Keep up the good work. Get better soon. 😎
My pleasure Darren! Just happy I can sit here and give my honest opinion and that helps people. I hate that you can pay for advice and the person there is just trying to sell you something…
Fabulous video.
Thank you very much 👍👍👍👍🥳🥂
You are very welcome!
A good, well balanced assessment.
Transparent as always Damo! I was waiting for a long time and I used your link to sign on. Thanks. 🖖
Thank you Lukas 😊
Thanks for a fair and honest review.
Shared. Very informative video - Great work!
Thank you Robert mate
Keep up your excellent work!
I have a question about the platform.
Does it offer free shares for new customers, in which case do we have to declare it as profit and consequently gain and pay capital gains? Or, as it is a gift/donation, it does not suffer the tax and we just declare it as more or less value when we sell?
Great content. Thank you 🙏 Get well soon
Thank you!
Gladly subscribed!
Thank you Oska 🙏🏻
Thanks for this Damo, very reassuring. Might have a butcher’s this weekend.
Let me know how you get on!
Great content! thank you!
It would be great to understand the differences of T213 Invest and CFD option. Great video
I am just going to carry on using them , them seem to do everything that I want them to do, including CFDs which I am losing on
Used them for a few years with no problems at all, including speedy responses when I have contacted them. That is my experience with them.
Thanks for this. Just a bit concerned that they might halt trading during a meme stock run (HCMC) as they did before. Other than that, I've been happy with the service.
Damien thanks for your input for this video. I have special request hah , there’s rumours that uk banks stopping people from withdrawal big amounts from their accounts of fear of recession,they updating and changing their term and conditions , do you think our money is save with the banks? Thanks alot
I like your videos a lot. I want other people to watch your videos. So try zooming out a little so your hands are in frame and keep your hands expressive and open. Try this for a couple of months and see if your viewership rate increases % wise.
"What no chicken?" (Still my favourite) 🤣
When you say 'sophisticated Broker' what brokers would you list? Vanguard, Hargreaves and Lansdown? and at what point would you Migrate over to these types of platforms? Great Vid as always sir!!!
Another banger mate. I certainly take the efforts to onboard a new credible board as positive. Keep them coming 🤙🏼
Hello lad! Feel like we haven’t spoken in a while hope you are well mate.
Yeah I think they have made some really positive steps around investing in the U.K. team. When you think that will be a huge cost in terms of wages and incentives.
@@DamienTalksMoney it’s easy to get caught up in all the negatives these days. CBDC talks and recession etc. all the more reason to understand what’s going on in the finance world.
Hope the family is well mate
for cash isa purposes please note trading 212 does not allow transfer ins any more, presumable until they lower the interest paid out
Thanks Damo. I used your link and got a free share in OXY currently worth around $68 😀
I hope you get the same or have even better luck mate 👍🏻
Boom!! That is a great free share to get!
Love your work!
Thank you so much! Really appreciate you watching
Great video!!!
Thanks for the video. I'm new in investing in UK, so I have three questions for you about share lending. 1- Are you saying that they can lend your share to others without your specific consent and that there is a risk of you loosing your shares?? This doesn't make any sense to me. 2- What hapens to your invested money then? 3- You then say (at 8:30min) that most of people should stick to investing in "something" ISA. Sorry, I couldn't understand what you said before ISA.
Thanks Damien
You are welcome mate!
Get Well Soon
Thanks James
Thanks for the video, I appreciate the thought that goes into it
Do you know if Trading 212 allows trades in all the FTSE 250 shares?
You are welcome.
I cannot confirm for sure but I just did a quick check and searched 10 random ftse 250 companies
Redrow, moonpig, Xp powder as examples
All 10 are available to purchase on the app. Hope that helps
Damo
It’s obviously good having the financial protection but do you really want the hassle of trying to get your money back. Paid into freetrade isa for about 18 months which I like using but as you say freetrade runs at a loss . Thinking of paying into my isa until next April then opening a new one possibly with vanguard as it a lot more established as we know. Only problem with that is paying fees on both . Some would say go on invest engine but that is also a start up and would be another risk to me
Thought the risk was in the investment not worrying about the broker 😂
Can you do a review of Interactive Brokers UK ISA? Compared with Trading 212
Thanks Mate. I will have a look of the platform. Last time we chat about it, was regarding to an ISA account where to buy REITs . As I recall, Trading 212 allowed it, right?
Changing subjects. What about EToro? In general. I thought you were using it. Plus, no more RUclips channel are talking about it. Mamafurfa a little bit, but it feels like a radio silence about the platform? Any thoughts about it?
Yes 212 you can buy reits in your isa!
I don’t use etorro I think it is expensive and there is no ISA so for me I wouldn’t recommend to my audience as I believe an ISA is the most appropriate thing for most of the people who watch my content.
Excellent video damo, do you have a isa or invest account? Or is your isa with vanguard as can only pay into 1 isa ?
Thanks mate great content as always
You can only pay into one isa of each type each year. But you can have as many of them as you want.
As I have been investing a number of years I hold ISAs with a number of brokers I then decide each year which one I will be paying into that year based on the investing style or fees and service features I want,
I hope that makes sense
It is a commonly misquoted myth you can only have one. The rule is about paying into them not how many you have.
You could in theory have 50 stocks and shares ISAs with 50 brokers the key is you can only pay into one each financial year
@@DamienTalksMoney thanks damo, so currently do you hold isa with 212 or invest account?
@@DeanR3 I have an ISA with them
Which are the sophisticated brokers do you recommend
Fee vs free, oldest gripe battle in the book. I side with HL as I prefer knowing my data or underlying assets aren't being "fiddled" with. But I have no bitterness toward though who prefer to see-off the fees, and are happy for their broker to play loose with their assets or data. Nothing in life is free, if you aren't paying for a service, you are the service.
Yeah 100% with this, but U.K. laws around order flow are pretty tight so the data thing is not as big an issue here as it is in the U.K.
and HL are no saints their handling of the Woodford scandal was imo arguably fraudulent they pumped it as it was dying and they knew that was the case.
I think 212 cfd model is a good balance and allows the cheap investing for the masses.
@@DamienTalksMoney No broker with a clean record, not over a long time period anyway. Pick your poison haha!
I'm still waiting for the broker that offers a YT monetisation strategy, free trading but you need to watch a video about athletic greens or square space every time you login.
@@danbelden6084 haha or maybe a raid shadow legends integration where you get a free champion every time you invest! 🤣
Important thing about FSCS, they might cover you up to £80k, but it doesn't mean you will get all your money back, they will investigate case and in example give you back 90% of original amount.
Yes but if you own shares, they belong to you regardless its only if you hold cash
@@Goady1000 Good point, just remember that some platforms indicate that you don't buy shares/active but representation of it, and platform is sole owner of share/active. I.e. revolut.
I started on HL and as many young people do they will invest maybe once a week or once a month when they get paid. £12 is ridiculous to people that do this as for the most part you’d have to make 5-10% just to breakeven. That can lead to serious loss chasing in speculative positions.
I moved over to T212 and it’s much better suited to those that want to DCA when they get paid. I’ve had no issues with T212 aside from a slight liquidity issue during a SPAC reverse merger but I can forgive them for that.
Noticed there is a lot of short interest at the moment in HL. Share price has took a big fall this year aside from the general fall in the market
Hi damo great video, I was wondering how you work all those trading accounts ? I thought in the UK we are only allowed 1 shares ISA at a time? I am new to investing, so i might be wrong, would like some clarification from someone experienced.
You can have more than 1 of each type of ISA mate you just cant pay into more than 1 each financial year. So i have ISA with each that i have set up over the years then at the start of the financial year i pick the one i want to use for that year and only pay cash into that one.
Good man
Seems promising that 212 is back to onboarding. That, in and of itself, has got to be a good sign. It's where I stick my "play money" (proper sensible investments are in a Vanguard ISA). Would be interested in knowing how many free shares you've earned. I assume you've seen Paul Briscoe's video on the subject where he reveals the number and value of his free shares.
Happy to share this Ian! Especially with yourself considering the support you have shown the channel.
The majority of my free shares came at the GameStop period and I discussed at that time I was earning up to 250 quid a day in freeshares those two months alone that I was earning the shares I made 10k. The scheme then stopped when they closed the doors and so did that income.
I am not earning anywhere near that now and I get around 2/3 freeshares a day since they reopened with an average value of around 10 quid each
In total I have received 960 free shares with an income of approx 11k but 90% of that was earnt during that GameStop period when an insane amount of people were flooding onto 212.
For full transparency my channel revenues around 7/10k per month, it is my full time job and that is before tax and costs. I left a full time job where I was earning 75k a year to do this full time. So at this point I am probably earning a similar amount to what I was then, I am just having a much better time doing it! Lol
Hope that clears things up and I will make a video on this in the future if you think it would be interesting?
@@DamienTalksMoney thanks for that. Very quick answer and very detailed! I think it would definitely make an interesting part of a video. Probably at some point when you do a "How much I earn from RUclips" type thing as seems a bit Thanos for RUclipsrs. Maybe at your next big subscriber milestone.
Have you seen that Freetrade are up for sale?
Share are all protected even one milion in shares are safe, if a broker is safe what happen when go bust is that you have to transfer your portfolio to another broker
Imo, when markets sink and World uncertainty, best to stick with Brands you have heard of !!, HL
Charles Stanley, Vanguard, AJJ Bell all big brands
Your channel has truly changed my life. i've been studying and researching about crypto for a while now, do to the economy crisis and i got stuck at some point on the learning curve. now i can say I'm truly improving my understanding of this whole new world and making great profit weekly, all thanks to you
That's great
But i recommended Mrs Sophia she's really my bitcion trading manager
@@jimmaisamaila so you guys still know her too
Wow I' m just shock someone mentioned expert Mrs Sophia I thought I'm the only one trading with her
Bitcion investment is what people should be going into all thanks to her for my successful withdraw ❤️.
Thoughts on Chip? Their investing is done by BlackRock
I do have a question about freetrade. Freetrade do not hold US held securities in your name. From questioning them i found out they hold 1 account with a US broker and everything is owned in their name, its only on Freetrades books i own those shares. How do you feel about this and do you think its right? Disclaimer i dont use FT anymore and only hold stocks their. IBKR has been the best upgrade for me
Wagwan Damo!
Yes lad! All good. How are you?
Hi Damien, can you have investments in both trading 212 and say Hargreaves Lansdown
I won’t plug trading 212… then goes an plugs trading 212 at the end. 😂😂 Love that.
Thanks Damo for another "to the point" video. Get well soon dude. Just re watched this video and obviously didn't read the clarification bit about Freetrade. I have a few shares on this platform and am beginning to wonder if I should remain or jump ship to another platform. I realise I currently pay no fees but the lack of profitability on Freetrades part, makes me wonder if the company will keep on trading for the medium to long term.
Morning Damien
Good evening now! Hope you are well all the same.
Thanks as always for your hard work mate, I have been with T212 for 3 years now and not had an issue so far and when I did need to contact them they have helped. Let’s hope they continue to invest in us so we can likewise. Get well soon buddy and let’s see some more crypto content 😀👍
For example I sold a share for like £11.98 but when I wanted to withdraw it, it was only £2.48? Why is this the case? 😢
Cheers for the video mate. Looking to open a 212 account now - is there a minimum deposit that sees us both get a free share?
The minimum deposit is £1 I believe mate. Literally just credit the account! Let me know what share you get
@@DamienTalksMoney Cheers fella. I put in a little more just to be safe. Getting an Under Armour share! Does that mean you get the same, or is it random?
@@stmichaelshill7421 yeah mate I think I get the same as you. I got an UA so that makes sense!
Hey damo, with the 212 app.. rebalancing, is this something you would recommend If say your portfolio is only in ETF’s like vanguard S&P500 (VUAG) and global FTSE all world (VWRL)??
That is up to you! But if you have set allocations for certain positions and long term you wish to keep those allocations then you should consider rebalancing
Wish I signed up with an affiliate link, damn! I may be missing something obvious here, but is there still an option to refer others? I can't find the option in either the mobile app or on the web.
When did you sign up? if it was recently, go to the three lines at the bottom "enter promo code" and put in Gbassinv see if it gives you a free share.
Welcome to the lurgy club
I am very much looking forward to leaving the lurgy club
Can I set up an ISA on trading 212 for my kid and set funds to a "pie" and just leave it to do its thing until my kid is 18?
I have an account with HL great customer service you pay for what you get they are only slightly more expensive than Freetrade when holding an ISA.
Hi Tim, yes i agree! But when it comes to sending people to places i just think HL and Freetrade are both expensive options when compared to competitors especially for beginners when they are just starting. When you build a larger portfolio HL has many benefits compared to discount brokers.
My guy, you are cashing in! You want the RUclips money, there is no shame there.
But more seriously, your health is more important than any RUclips money.
You have to be healthy to be able to enjoy it. A word is sufficient for the wise.
Late too the party on watching your video on review Trading 212, I did sign up during the early part of the pandemic but got the same answer I couldn’t complete the signing up process as they had problems as explained.
One question if you have time to answer as this is a old video are trading 212 provided stocks and shares ISA?
Excellent video thanks for sharing your thoughts on this trading platform, I will give it careful thought on signing up in the future.
Get well soon mate , you do look a little drained . Hope your back at 100% soon
I use 212 for my isa
Fully drained haha! Been a rough few days
Hi Damien Not sure your invest engine link is working it’s just going to the homepage I would expect a referral/affiliate page
I Christian thanks for this. I have requested a unique landing page as I agree it would be nice to have. But I can confirm the link is still working and you will get your deposit for using it
Damien
@@DamienTalksMoney thanks fab videos btw 👍
Would you trust Trading 212 for long term investing? If you wanted to open a pie for ETF’s looking to save for 20,30 or 40 years? What would happen if 212 collapsed?
Is trading 212 good for Europeans outside of UK ?.
Just a question, if someone had more than £85k with Freetrade say in an ISA (e.g. S&P500) and they went bust would we be protected up to £85k or would the entire amount be safe as the investments wouldn't be treated as company assets?
The entire amount should in theory be safe as the rules in place state those funds should be separate.
The insurance of 85k is a last resort sort of thing and really has only ever kicked in when companies have committed massive fraud.
@@DamienTalksMoney I could be wrong but doesn't the £85k protection refer to the underlying funds rather than the platform?
Or in other words, if somebody had £200k in AJ Bell that would be fine if it was spread among different fund providers. But if say £100K of that was in an IShares fund then only £85k would be protected (if Ishares went bust)
Similarly, if somebody had £85k in Freetrade and £85k in AJ Bell but in both cases all £170K was in Ishares funds (or Vanguard, or any other provider) then only £85k total is protected?
@@DamienTalksMoney The biggest question I have, is how would I get hold off my shares if Trading 212 went bankrupt an start trading them again.
Especially if those shares are being lent out to a third party/
@@DavidKnowles0 the process of getting your money back is a lengthy one and could take years. I believe Damien made a video talking about the financial compensation scheme (worth reading more about this subject). It's not very straight forward.
Well trading platform from Shire tried to pull out bad videos "hurting brand", and now traders are pulling it out of market.
well the door was also closed for EU customers
i actually closed my 212 account because it was such an hassle to keep up with
Love the use of George W bush at the door
haha that clip is so good! His little stand and smile at the end is amazing
@@DamienTalksMoney haha 😆 yeah it’s bliss lol 😂
I personally love 212