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Trading212
Average rating:  
 1 reviews
by Richard W on Trading212
Online Platform (out of 5 stars): 5
Customer Service (out of 5 stars): 5
Fees & Pricing (out of 5 stars): 5

Trading 212 is the only UK platform I know that provides stocks and shares invest and ISA accounts with absolutely no trading fee, no platform fee and no foreign currency exchange fees. I have accounts with 4 other brokers, but am now putting my new money with this platform. They offer fractional shares, which are great. Using these you can build up a position in an expensive share like Amazon, just a few pounds at a time each week if you like. A recent addition is "pies", where you can essentially create your own fund, with percentages targets in different instruments and then invest cash that will invested in those percentages, say 10% AAPL, 10% MSFT, etc.

One thing I enjoy is the very active user community. There is not only participation by users, but also by the staff. Because staff are present one can obtain answers to questions in a matter of minutes rather than wait days for the answer to a question by slow email or secure message. The community spirit is polite and helpful. People who are new to investing are given lots of help by those who are more experienced.

The platform used to be just for CFDs, but has rapidly expanded to stocks and shares and ISA accounts. Apparently, they now have just passed 600,000 funded accounts, which makes them the most rapidly growing broker in Europe.

The phone app and web platform are already brilliant, but the undergo continual improvement, often as a result of requests by clients in the community forum. The phone app is very easy to use, and offers things limit orders and stop limits for those who are interested. Suppose you want to buy AAPL. You have the flexibility to place an order for 10 shares, 0.31 shares or £10 worth.

A deficiency of the platform for now is a lack of OEIC funds. You cannot buy something like a Vanguard Lifestrategy fund on this platform. You can only buy the Vanguard ETFs. However, if you are interested in those, this is the least expensive platform to purchase and hold them - less expensive that Vanguard's own platform. There are many other ETFs from iShares, xTrackers, etc.

People are of course concerned about the safety of their funds. Depositing and withdrawing money is easy, but like all brokers they have anti-money laundering regulations to meet, which has caused some users a bit of bother from time to time. Personally I have had no issues. Trading 212 is FCA regulated and client funds are FCFS protected. Trading 212 UK is a UK company registered with Companies House. They partner with Interactive Brokers for trade execution and share custody. It provides some reassurance to know that Interactive Brokers is a 22B market cap company in the NASDAQ 400 and has been operating 42 years.