Trading 212

[Ayizen]

Hey,

I was looking around and noticed that Trading 212 charges no commission on ETF purchases.

There is a 0.15% FX fee if you deposit CHF and buy in EUR or USD.

My plan is to first convert CHF to EUR in Revolut (no fees), then send it via bank transfer to my Trading 212 account (no international payment fees). I would trade WEBN there with zero commission, and once a year transfer the position to Saxo.

They introduced free portfolio transfers last year, both in and out (though you can’t transfer to IBKR since they use IBKR for trading).

They don’t offer VT, but compared to Saxo Bank (which I currently use), I don’t really see any downside to buying through Trading 212.

What do you think?

Thanks!

 

[Baptiste Wicht]

Hi,

Revolut has fees, so I am not sure it makes sense to go through Revolut, you may end up paying more than 0.15%.

On paper, Trading 212 looks good, but I do not fully trust them. For me, there is no advantage over IB who offers VT and cheap currency conversions and is more trustworthy in my opinion. I would even choose Saxo over Trading 212 for the trust and safety. But Saxo will be more expensive.

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If you start using them, please let us know how it goes; it would be great to get some feedback from users.

 

[Ayizen]

If you start using them, please let us know how it goes; it would be great to get some feedback from users.

Hi,
I tried transferring two portfolios (1 and 6 shares of WEBN) to Saxo. The first transfer went smoothly, but during the second one I encountered an error when I had to sign and approve the transfer in Trading 212. They resolved it within a week, and since it was only about CHF 50, it wasn’t a big issue. However, it made me decide not to use Trading 212 anymore and switch to IBKR, as I don’t feel confident holding larger amounts with them.

 

[Baptiste Wicht]

Thanks for sharing your experience back!

Hi,
I tried transferring two portfolios (1 and 6 shares of WEBN) to Saxo. The first transfer went smoothly, but during the second one I encountered an error when I had to sign and approve the transfer in Trading 212. They resolved it within a week, and since it was only about CHF 50, it wasn’t a big issue. However, it made me decide not to use Trading 212 anymore and switch to IBKR, as I don’t feel confident holding larger amounts with them.

Signing and approving seems normal to me for security, no? Was the problem that you could not resolve it yourself?

 

[Ayizen]

Yeah it is, and it worked as it should the first time, but the second time, when i wanted ti sign and approve there was an error occuring, so i could not sign the transfer and i had to contact the support team.

 

[Baptiste Wicht]

Yeah it is, and it worked as it should the first time, but the second time, when i wanted ti sign and approve there was an error occuring, so i could not sign the transfer and i had to contact the support team.

Thanks for the details. I agree that it's not inspiring much confidence. But at least you got your shares properly out.