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Hi all, is anyone else aware of the zero commission stock trading by trading 212?

I'm currently using HL so obviously this caught my eye. However, they don't hold share certificates in the users names, therefore if their IT fails, could you end up losing shares/equity?

Additionally, when holding CFD's, you only receive a net dividend. Im assuming that holding equities via T212 would mean you should receive the gross dividend. (I've emailed for clarification)

I've used eToro in the past, and found it to be quite a good platform. But, i want equties as opposed to CFD's in shares. 

Unfortunately, things aren't wrapped up in an ISA, meaning that investments may not be as well suited for long term as say those on HL.

I'd like to use them on riskier stocks (Carillion, dominoes?) in which i can put a few 100's in without being stung for £12 +0.5% in, £12 out.

Anyway, i've raised this for discussion so i can hopefully make a more informed decision whether to use them or not.

Cheers

 

 

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Can't add much other than that I have heard of them before, a friend from work mentioned them. He seemed to think it was good as no comissions and it has an app.

I personally disliked the look of their app, but that's just probably personal preference. I found it very minimalistic. The app does have a cool feature of a trading feed app linked to the Tradebird social media platform, a sort of like social media group for traders.

Let us know if you found any more info about the trading 212 and how you get on. 

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I remember reading that Trading 212 took positions against their clients trades, on occasion.  I can't say I read into it deeply, but a google search of current reviews caused me to raise an eyebrow slightly. 

I have to say that I really like Hargreaves Lansdown for the simplicity of their platform.  I believe that if you become a regular trader you can qualify for a 50% discount on trading, as well. 

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I've opened an account with a small sum. So far I like the platform, it is easy to use and runs quick.

However, from discussions with them, they tax Dividends but won't quantify how much they will be doing so. (Inline with HMRC apparently, which may be 7.5%)

Now, this may seem to be small fry for the typical retail investor, but if you was looking to amass a small fortune and looking to use dividends for reinvestment or as a pension, then you need to consider this. Naturally, it's up to the individual to declare income from interest/dividends. (Starting above £5,000)

Now, on a sum of 100k, the tax may seem fairly nominal, but ultimately, when a stock goes ex-dividend, an investor may lose out when he probably shouldn't.

Ill keep everyone up to date.

 

 

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