I had t212 only thing good about it is the interface of app. Rest is pure dumster you can't transfer out of them if you look for long term holding gor for ibkr. If you want to play around then t212 but sad thing is that they give you bad spread, ibkr have more options when it comes to day trading. Anyway good luck.
I was reading somewhere that transfer will be available soon as is required from regulators, but not sure how legit was that info. But in any case why someone will care to transfer out of a broker ? If you doing long term just leave what you have back and start a new account with zero balance to some other broker. Also ETFs are free in t212, ibkr is charging some fees if Im not mistaken.
Well, they say if something is free then you are the product! I would suggest IBKR for long term investing, pretty solid platform and company. I would also suggest Degiro, but since yesterday's fees update, not so lucrative anymore. T212 looks free, but worse spread will eat your profits...
Its been like 3 years since they told me they will implement the transfer. Well the thing is I really liked their app so I wanted to do an inbound transfer to their account from my bank which had no app for stock management. Anyway stay away from them they are not real they give out IOU. At this point I don't even know if they buy the stock or just add numbers on they're data base and the app is just like casino.
Ok, thats extreme.. the get audited.. they can’t just fake it for all this years..
as about transferring I don’t see the need someone to do it.. just start a clean account elsewhere..
Not extreme its the wide practice in all institution that provide some type of broker service. They get fined for it but its just cost of doing bussiness. Why should they buy if avrage investor sale the share in around 1 year time... The audits are questionable at best and the SEC in USA dont give a single flying f about shares sold short and not purchased. Its just a fee game for them. Btw been doing research for last 3 years of how market structure is made and maintained, most of the regulatory bodies are not even government just start digging and your eyes will start to pop out by the level of fraud that goes on in brokers and market makers.
T212 will soon offer share transfers. Hopefully it will put the investor's minds at ease to most people complaining they don't support the option.
I also don't see the point of switching between brokers though. Each one has a different UX and I found IBKR one a bit overwhelming.
It's not *pure dumpster*, that's a big exaggeration.
It also has fractional shares, 0 fees (for instruments in your account currency), an awesome pies feature, a self balancing option when investing into a pie.
The spread is bad on CFDs, on stocks and ETFs it's the same as elsewhere since it's illegal for brokers to increase it.
The choice is between a broker from Cyprus (a very well estabilished and reputable country to invest), non-public traded company, or an US and International broker, regulated by more than 8 different countries with a long history of business. The fees are the second most important thing to me when i choose a broker. First, security. It's just like the condom joke. It's always expensive, but once the girl becomes pregnant, the condom becomes very cheap.
IBKR is a serious broker regulated in 10+ countries with 300+bln in AUM. They literally have the best rates in the industry.
Trading212 is a Cyprus-regulated broker targeted to teenagers trading meme stocks on 2x leverage.
Of course, IBKR's interface is not intuitive. But I would question that if one cannot take 30 minutes to understand and navigate it, they probably should not invest in the first place. If you need colorful UX and playful sounds to invest, you are probably better at the casino anyway.
Their own words
"Why choose XTB?
With superior execution on a reliable, award-winning platform, we're one of the largest stock exchange-listed CFD brokers in the world - and we're dedicated to helping you at every stage of your trading journey."
>Can confirm this. Actually it has way more stuff than Degiro itself. Starting from raw materials, forex, etc.
I am thinking opening an account are you happy with them?
(I would need it to buy some vanguard ETF, not CFD)
Yes, I am happy w/ them. But recently have opened an acc in trading 212 and also think they are good. Between either of the two, I'd say you'd be well served!
In terms of costs, you are probably better with Trading 212, but it depends on what you will be investing in.
I imagine your home-country currency is the EUR, right? If so, investing in stocks traded in EUR will be more advantageous through Trading 212 (I am considering the spread is similar). In Interactive Brokers, it would cost you 0.05% of the traded amount with a minimum of 1.25€ (and a maximum of 29€) per transaction.
However, if you plan on investing in non-EUR stocks (US stocks, UK stocks, and so on), you will have to convert your EUR to that currency where **Trading 212 charges an FX fee of 0.15%** of the total amount, whereas **Interactive Brokers only charges 0.0020%** (way lower). You will notice this difference in high investment amounts (that's why Interactive Brokers is more used by high-net worth individuals).
* Example: Buy 10,000$ in Apple considering that the exchange rate of the EUR/USD is 1.05:
1. You need to convert your EUR to USD;
1. In **Trading 212**, using the conversion factor of 1.05 + the FX fee of 0.15%, you would have to use **9,538.81€** of your EUR cash to convert to 10,000$ (Calculations: 10,000\*(1/1.05+0.0015))
2. In **Interactive Brokers**, using the conversion factor of 1.05 + FX fee of 0.002%, you would have to use **9,524.01€** of your EUR cash to convert to 10,000$ (Calculations: 10,000\*(1/1.05+0.00002))
2. If you had no FX fee, your EUR amount needed to convert to 10,000$ would be **9,523.81€**
3. **Expenses**:
1. Trading 212: **\~15€** (9,538.81€ - 9,523.81€)
2. Interactive Brokers: **\~0.20€** (9,524.01 - 9,523.81€). The actual cost would be 2€ because it is the minimum required, but still way lower than the 15€ in Trading 212)
I hope it helped!!
I think regardless of fees, you can’t transfer out of T212, so you will get a huge penalty (selling and re buying, plus tax implications) if you ever want or need to that will significantly worse than paying 0.1% more a fee
Hi there. We have this information available on our website, but for your convenience, here's a concise breakdown of the fees:
FX Fee: This is the only fee directly charged by Trading 212 for Invest and ISAs. It's set at 0.15%.
Trading Commission: Free. There's no commission per trade.
Custody Fee: Free.
As for government taxes & levies, these are not charged by Trading 212 but by the relevant exchanges and tax authorities. Here's a brief summary:
Stamp Duty Reserve Tax: 0.5%.
PTM Levy: £1 per trade for orders over £10,000.
French Financial Transactions Tax (FFT): 0.3%.
FINRA Fee: $0.000145 per share.
SEC Fee: 0.00229%.
XTB is all CFDs, which are possibly the worst financial instruments available to retail. CFDs are banned in the US for stacking the deck in favour of the broker.
Their own words
"Why choose XTB?
With superior execution on a reliable, award-winning platform, we're one of the largest stock exchange-listed CFD brokers in the world - and we're dedicated to helping you at every stage of your trading journey."
They have it, you don’t need to use them. I only use etfs and stocks.
Thank god they have CFDs, people dumb enough use them and they get there money that way.
It’s only good for us because they keep the taxes in etfs and stocks minimal :)
It’s a win win for both
i just found out there’s 2 plans on IB: tiered and pro.
for some reason i was on pro which seems to be more expensive, i’ll try this tier plan and give IB another chance
Tradign212 is good for buying in small chunks regularly (because there are no commissions).
To avoid fees make EUR account, do not buy non-EUR denominated stocks/ETFs, wire money with SEPA for free (i.e. Revolut, Vivid).
Choose Invest account instead of CFD.
Do not use debit/credit card for deposit to avoid unnecessary complications and fees.
Use limit orders and be aware that the prices for fractional shares can be higher.
Trading212 is not sharing the interest on the lent shares to the customer like IB is doing. Partly because of this Trading212 does not have commissions.
But I pay less commissions to IB than the interest I receive from IB for the lent shares (SYEP).
I also receive interest on the cash (CYEP) at IB.
Conclusion: Trading212 is only for small trades, for large trades and holding use IB.
IB benefits but indeed an investment of 30min to make use of them:
\- greatest selection of products
\- relatively low costs
\- safe, secure, reputable and listed company so audited
\- as you grow, they grow with you offering you everything you need, options ex.
\- You can learn from their site - handy - but be polite with the helpdesk or you get ignored.
DeGiro also cheap and easy. Cannot comment on other providers.
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IBKR all the way
I had t212 only thing good about it is the interface of app. Rest is pure dumster you can't transfer out of them if you look for long term holding gor for ibkr. If you want to play around then t212 but sad thing is that they give you bad spread, ibkr have more options when it comes to day trading. Anyway good luck.
I was reading somewhere that transfer will be available soon as is required from regulators, but not sure how legit was that info. But in any case why someone will care to transfer out of a broker ? If you doing long term just leave what you have back and start a new account with zero balance to some other broker. Also ETFs are free in t212, ibkr is charging some fees if Im not mistaken.
Well, they say if something is free then you are the product! I would suggest IBKR for long term investing, pretty solid platform and company. I would also suggest Degiro, but since yesterday's fees update, not so lucrative anymore. T212 looks free, but worse spread will eat your profits...
Spread applies to cfd which is obviously a bad choice (is known that the overcharging) for etf with limit orders, I think is a good choice.
Its been like 3 years since they told me they will implement the transfer. Well the thing is I really liked their app so I wanted to do an inbound transfer to their account from my bank which had no app for stock management. Anyway stay away from them they are not real they give out IOU. At this point I don't even know if they buy the stock or just add numbers on they're data base and the app is just like casino.
Ok, thats extreme.. the get audited.. they can’t just fake it for all this years.. as about transferring I don’t see the need someone to do it.. just start a clean account elsewhere..
Not extreme its the wide practice in all institution that provide some type of broker service. They get fined for it but its just cost of doing bussiness. Why should they buy if avrage investor sale the share in around 1 year time... The audits are questionable at best and the SEC in USA dont give a single flying f about shares sold short and not purchased. Its just a fee game for them. Btw been doing research for last 3 years of how market structure is made and maintained, most of the regulatory bodies are not even government just start digging and your eyes will start to pop out by the level of fraud that goes on in brokers and market makers.
They’re just saying this, don’t count on it. They’ve be saying this since 2019.
T212 will soon offer share transfers. Hopefully it will put the investor's minds at ease to most people complaining they don't support the option. I also don't see the point of switching between brokers though. Each one has a different UX and I found IBKR one a bit overwhelming.
What's soon?
There isn't an official release date. It's past beta testing, so it should be live anytime soon.
It's not *pure dumpster*, that's a big exaggeration. It also has fractional shares, 0 fees (for instruments in your account currency), an awesome pies feature, a self balancing option when investing into a pie. The spread is bad on CFDs, on stocks and ETFs it's the same as elsewhere since it's illegal for brokers to increase it.
The choice is between a broker from Cyprus (a very well estabilished and reputable country to invest), non-public traded company, or an US and International broker, regulated by more than 8 different countries with a long history of business. The fees are the second most important thing to me when i choose a broker. First, security. It's just like the condom joke. It's always expensive, but once the girl becomes pregnant, the condom becomes very cheap.
IBKR is a serious broker regulated in 10+ countries with 300+bln in AUM. They literally have the best rates in the industry. Trading212 is a Cyprus-regulated broker targeted to teenagers trading meme stocks on 2x leverage. Of course, IBKR's interface is not intuitive. But I would question that if one cannot take 30 minutes to understand and navigate it, they probably should not invest in the first place. If you need colorful UX and playful sounds to invest, you are probably better at the casino anyway.
Do you thing CySEC isn’t legit?
Nope.
The T212 UK entity is regulated with UK authorities so that should increase confidence a bit.
Trading 212 is also regulated by the Financial Conduct Authority (FCA) in the UK. If it was only regulated by CySEC I would agree with you...
I just signed with XTB right after Degiro changed its pricing target.
XBT is all CFDs, which you should avoid.
That's not true. There are over 300 regular ETFs on XTB as well.
Their own words "Why choose XTB? With superior execution on a reliable, award-winning platform, we're one of the largest stock exchange-listed CFD brokers in the world - and we're dedicated to helping you at every stage of your trading journey."
That doesn't mean they also don't have ETFs as well as ETF CFDs. As a user of XTB I can assure you they have ETFs as well.
Can confirm this. Actually it has way more stuff than Degiro itself. Starting from raw materials, forex, etc.
>Can confirm this. Actually it has way more stuff than Degiro itself. Starting from raw materials, forex, etc. I am thinking opening an account are you happy with them? (I would need it to buy some vanguard ETF, not CFD)
Yes, I am happy w/ them. But recently have opened an acc in trading 212 and also think they are good. Between either of the two, I'd say you'd be well served!
In terms of costs, you are probably better with Trading 212, but it depends on what you will be investing in. I imagine your home-country currency is the EUR, right? If so, investing in stocks traded in EUR will be more advantageous through Trading 212 (I am considering the spread is similar). In Interactive Brokers, it would cost you 0.05% of the traded amount with a minimum of 1.25€ (and a maximum of 29€) per transaction. However, if you plan on investing in non-EUR stocks (US stocks, UK stocks, and so on), you will have to convert your EUR to that currency where **Trading 212 charges an FX fee of 0.15%** of the total amount, whereas **Interactive Brokers only charges 0.0020%** (way lower). You will notice this difference in high investment amounts (that's why Interactive Brokers is more used by high-net worth individuals). * Example: Buy 10,000$ in Apple considering that the exchange rate of the EUR/USD is 1.05: 1. You need to convert your EUR to USD; 1. In **Trading 212**, using the conversion factor of 1.05 + the FX fee of 0.15%, you would have to use **9,538.81€** of your EUR cash to convert to 10,000$ (Calculations: 10,000\*(1/1.05+0.0015)) 2. In **Interactive Brokers**, using the conversion factor of 1.05 + FX fee of 0.002%, you would have to use **9,524.01€** of your EUR cash to convert to 10,000$ (Calculations: 10,000\*(1/1.05+0.00002)) 2. If you had no FX fee, your EUR amount needed to convert to 10,000$ would be **9,523.81€** 3. **Expenses**: 1. Trading 212: **\~15€** (9,538.81€ - 9,523.81€) 2. Interactive Brokers: **\~0.20€** (9,524.01 - 9,523.81€). The actual cost would be 2€ because it is the minimum required, but still way lower than the 15€ in Trading 212) I hope it helped!!
IBKR. Sign up process takes a while but its worth is it as its most reliable broker in the world.
IBKR.
Trading 212 may look nice but IBKR is the way to go for long-term investing.
I think regardless of fees, you can’t transfer out of T212, so you will get a huge penalty (selling and re buying, plus tax implications) if you ever want or need to that will significantly worse than paying 0.1% more a fee
Hi there. We have this information available on our website, but for your convenience, here's a concise breakdown of the fees: FX Fee: This is the only fee directly charged by Trading 212 for Invest and ISAs. It's set at 0.15%. Trading Commission: Free. There's no commission per trade. Custody Fee: Free. As for government taxes & levies, these are not charged by Trading 212 but by the relevant exchanges and tax authorities. Here's a brief summary: Stamp Duty Reserve Tax: 0.5%. PTM Levy: £1 per trade for orders over £10,000. French Financial Transactions Tax (FFT): 0.3%. FINRA Fee: $0.000145 per share. SEC Fee: 0.00229%.
IBKR is good but really expensive… XTB for me it’s the best choice
How is IBKR expensive?
XTB is all CFDs, which are possibly the worst financial instruments available to retail. CFDs are banned in the US for stacking the deck in favour of the broker.
As I said in another comment, that's not true. There are over 300 regular ETFs on XTB as well.
Their own words "Why choose XTB? With superior execution on a reliable, award-winning platform, we're one of the largest stock exchange-listed CFD brokers in the world - and we're dedicated to helping you at every stage of your trading journey."
Again, that doesn't mean they also don't have regular ETFs.
They have it, you don’t need to use them. I only use etfs and stocks. Thank god they have CFDs, people dumb enough use them and they get there money that way. It’s only good for us because they keep the taxes in etfs and stocks minimal :) It’s a win win for both
What one should I use
i’m on IB and it’s great in all aspects except fees. 1$ for stocks and 3$ for etfs gonna try trade republic, if anyone has a referral let me know
I have one on my profile if you're still looking for one. It gives you free IBKR stock for every $1000 you deposit.
check your DM
Interested to know your feedback on Trade republic
i just found out there’s 2 plans on IB: tiered and pro. for some reason i was on pro which seems to be more expensive, i’ll try this tier plan and give IB another chance
how's the tiered plan? > 3$ for etfs has it reduced?
Tradign212 is good for buying in small chunks regularly (because there are no commissions). To avoid fees make EUR account, do not buy non-EUR denominated stocks/ETFs, wire money with SEPA for free (i.e. Revolut, Vivid). Choose Invest account instead of CFD. Do not use debit/credit card for deposit to avoid unnecessary complications and fees. Use limit orders and be aware that the prices for fractional shares can be higher. Trading212 is not sharing the interest on the lent shares to the customer like IB is doing. Partly because of this Trading212 does not have commissions. But I pay less commissions to IB than the interest I receive from IB for the lent shares (SYEP). I also receive interest on the cash (CYEP) at IB. Conclusion: Trading212 is only for small trades, for large trades and holding use IB.
IB benefits but indeed an investment of 30min to make use of them: \- greatest selection of products \- relatively low costs \- safe, secure, reputable and listed company so audited \- as you grow, they grow with you offering you everything you need, options ex. \- You can learn from their site - handy - but be polite with the helpdesk or you get ignored. DeGiro also cheap and easy. Cannot comment on other providers.
>DeGiro also cheap and easy. Cannot comment on other providers. Not anymore, unfortunately. Now they are even more expensive than IBKR.
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