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Trading 212

  • 18-07-2020 2:21pm
    #1
    Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    I have been using the "invest" section of this broker for a while and decided to put a small bit of money towards the high risk cfd section.

    The problem I'm having is that the leverage offered is set and not actually shown before purchasing a stock etc.

    There is no information breakdown before purchasing.
    I understand they offer different leverage ratios but this is only from information found outside of the app.

    Am I missing something here.
    Until you actually purchase the stock you cant see the leverage you are set with!


«1

Comments

  • Moderators, Business & Finance Moderators Posts: 7,811 Mod ✭✭✭✭ Jim2007


    I have been using the "invest" section of this broker for a while and decided to put a small bit of money towards the high risk cfd section.

    The problem I'm having is that the leverage offered is set and not actually shown before purchasing a stock etc.

    There is no information breakdown before purchasing.
    I understand they offer different leverage ratios but this is only from information found outside of the app.

    Am I missing something here.
    Until you actually purchase the stock you cant see the leverage you are set with!

    You are not buying the stock, you are betting on the stock....


  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    Jim2007 wrote: »
    You are not buying the stock, you are betting on the stock....

    I'm aware of that. I'm trading on the difference. I phrased that wrong.

    That's not the issue I'm having though


  • Registered Users Posts: 3,564 ✭✭✭ One More Toy


    Something like 70-80% of people using cfds lose money

    Get out of it and avoid, the odds are against you


  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    Something like 70-80% of people using cfds lose money

    Get out of it and avoid, the odds are against you

    Its disposable income. I'm 26% up and back to cash.

    Yeah its about 78% on trading 212. They have it written in a few places throughout the app registration.

    Cfd trading is banned in the United states because so many lost their bollox "trading "


  • Registered Users Posts: 3,564 ✭✭✭ One More Toy


    Its disposable income. I'm 26% up and back to cash.

    Yeah its about 78% on trading 212. They have it written in a few places throughout the app registration.

    Cfd trading is banned in the United states because so many lost their bollox "trading "

    I'm glad you're up on it, but take it from me with a decades experience, along the way I've tried spread betting and cfds.


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  • Closed Accounts Posts: 474 ✭✭ ChelseaRentBoy


    Been using 212 to trade currencies for about a year. I don't trade stocks so can't comment on that but I've never had an issue withdrawing funds or from the platform itself.


  • Closed Accounts Posts: 474 ✭✭ ChelseaRentBoy


    Its disposable income. I'm 26% up and back to cash.

    Yeah its about 78% on trading 212. They have it written in a few places throughout the app registration.

    Cfd trading is banned in the United states because so many lost their bollox "trading "

    That's because they where gamblers not traders. 78% is a pretty low casualty rate for that industry.


  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    I'm glad you're up on it, but take it from me with a decades experience, along the way I've tried spread betting and cfds.

    You have much much more experience than I have in that case.
    Iv been using the invest section for a bit and just threw some play money into cfds. If I can make a few euro profit il happily take it.

    The reason i started using it was a housemate friend has been cfd trading about 2 months and his account is rapidly growing. I was intrigued to give it a look. He hasn't withdrawn a cent yet though and says he wont do for another while. Not a great idea in my opinion but that's his choice. I don't think he has trailing stops or a get out plan at all

    What are your thoughts on cfd trading? Disaster waiting to happen?


  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    Been using 212 to trade currencies for about a year. I don't trade stocks so can't comment on that but I've never had an issue withdrawing funds or from the platform itself.

    They are legitimate no doubt about it. Everyone is legitimate until it goes wrong but I understand that people's money up to a certain figure is guaranteed by uk law


  • Registered Users Posts: 3,564 ✭✭✭ One More Toy


    You have much much more experience than I have in that case.
    Iv been using the invest section for a bit and just threw some play money into cfds. If I can make a few euro profit il happily take it.

    The reason i started using it was a housemate friend has been cfd trading about 2 months and his account is rapidly growing. I was intrigued to give it a look. He hasn't withdrawn a cent yet though and says he wont do for another while. Not a great idea in my opinion but that's his choice. I don't think he has trailing stops or a get out plan at all

    What are your thoughts on cfd trading? Disaster waiting to happen?

    Yes disaster, I've seen disclosures on cfd ads in the 80% lose money region. I do some research on EU finance regulation in work. I would not be surprised if cfds were banned in the EU

    Might I ask what your friend is trading? Tech shares maybe? They're in a huge bubble right now.


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  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    Yes disaster, I've seen disclosures on cfd ads in the 80% lose money region. I do some research on EU finance regulation in work. I would not be surprised if cfds were banned in the EU

    Might I ask what your friend is trading? Tech shares maybe? They're in a huge bubble right now.

    If they are banned in the home of capitalism then an EU ban wouldn't be much of a surprise.

    He has a fairly diverse portfolio.
    Eg:

    Salesforce
    Amazon
    Oil
    Various utilities
    Zoom
    Various pharma

    There are others but I cant recall. Somewhere around 25 or so in total


  • Registered Users Posts: 3,564 ✭✭✭ One More Toy


    If they are banned in the home of capitalism then an EU ban wouldn't be much of a surprise.

    He has a fairly diverse portfolio.
    Eg:

    Salesforce
    Amazon
    Oil
    Various utilities
    Zoom
    Various pharma

    Man that's some risky shít right there, stay away from it.

    Just buy and hold good quality companies.

    The EU is doing its best to curtail their use at least with the disclosures, I'd bet they are banned by the end of the year.

    Spread betting looked really attractive to me as any gains are tax free


  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    Man that's some risky shít right there, stay away from it.

    Just buy and hold good quality companies.

    The EU is doing its best to curtail their use at least with the disclosures, I'd bet they are banned by the end of the year.

    Spread betting looked really attractive to me as any gains are tax free

    Really ?I would have thought that was fairly solid as it covers lots of different industries or areas.
    Again though I am inexperienced.

    By solid companies I presume you mean giants who have been around years and are classed as low volatility.

    Maybe like a Coca cola or Unilever type?

    I did a Google search on Eu Cfd and see that action was taken in 2018 but with limited success


  • Registered Users Posts: 3,564 ✭✭✭ One More Toy


    Really ?I would have thought that was fairly solid as it covers lots of different industries or areas.
    Again though I am inexperienced.

    By solid companies I presume you mean giants who have been around years and are classed as low volatility.

    Maybe like a Coca cola or Unilever type?

    I did a Google search on Eu Cfd and see that action was taken in 2018 but with limited success

    Amazon at all time highs, oil who knows where it will go with global demand whipsawing.

    I personally stick to the large Co's in the s&p 500. But do your own research and coming with an investing plan that suits your risk tolerance and objectives


  • Closed Accounts Posts: 3,748 ✭✭✭ ExMachina1000


    Amazon at all time highs, oil who knows where it will go with global demand whipsawing.

    I personally stick to the large Co's in the s&p 500. But do your own research and coming with an investing plan that suits your risk tolerance and objectives

    Of course. Nobody can recommend to someone else. I shouldn't have phrased it that way.


  • Registered Users Posts: 90 ✭✭ GalwayBmw


    I have been using the "invest" section of this broker for a while and decided to put a small bit of money towards the high risk cfd section.

    The problem I'm having is that the leverage offered is set and not actually shown before purchasing a stock etc.

    There is no information breakdown before purchasing.
    I understand they offer different leverage ratios but this is only from information found outside of the app.

    Am I missing something here.
    Until you actually purchase the stock you cant see the leverage you are set with!

    the leverage is typically based on two major things:
    1. your class as a trader - can be a retail trader ~1:30 or a pro one (certificates and crap but most importantly your capital yeah) - up to 1:300
    2. the overall riskiness of the asset (probably volatility driven) plus liquidity (the spread) - can lower the leverage.

    on top of that forced by regional authoritative rules, like no one can trade cryptos with the leverage higher than 1:2 etc.

    best to consult with the shop themselves.


  • Closed Accounts Posts: 170 ✭✭ DilD


    I think this is what you are looking for? It gives you the margin requirements for each stock/cfd.

    https://www.trading212.com/en/Trading-Instruments?id=3


  • Registered Users Posts: 1,879 ✭✭✭ rgossip30


    Does Trading 212 automatically send your details to revenue under the Common Reporting Standard or the new ESMA - MiFID II ?


  • Registered Users Posts: 17,013 ✭✭✭✭ namloc1980


    Signs of trouble at Trading 212? https://helpcentre.trading212.com/hc/en-us/articles/360015971518

    Apparently they've disabled their chat function on the app as well.


  • Registered Users Posts: 14,541 ✭✭✭✭ Supercell


    namloc1980 wrote: »
    Signs of trouble at Trading 212? https://helpcentre.trading212.com/hc/en-us/articles/360015971518

    Apparently they've disabled their chat function on the app as well.

    Thats a bit concerning, i'm still smarting from my P2P losses, this makes me very nervous :(

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



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  • Registered Users Posts: 11,386 ✭✭✭✭ Timmaay


    Supercell wrote: »
    Thats a bit concerning, i'm still smarting from my P2P losses, this makes me very nervous :(

    I'm well out of the CFD section of t212 but good few quid in the invest, that is just a broker and do you physically own the shares don't you?


  • Moderators, Science, Health & Environment Moderators Posts: 4,406 Mod ✭✭✭✭ mickger844posts


    Thinking about setting up an account with Trading 212. Are they in trouble?? General opinions would be appreciated
    Cheers


  • Moderators, Business & Finance Moderators Posts: 7,811 Mod ✭✭✭✭ Jim2007


    namloc1980 wrote: »
    Signs of trouble at Trading 212? https://helpcentre.trading212.com/hc/en-us/articles/360015971518

    Apparently they've disabled their chat function on the app as well.


    A lot of people are about to learn what it really means to dabble in CFDs... better turn off the chat app for a while.


    Nothing to indicate that there are any issues with Trading212, so far. It is a common enough product, so one would assume their risk management is capable to handle it. But time will tell.


  • Registered Users Posts: 644 ✭✭✭ timetogo1


    Anybody know how to get a report of profits / losses for the year so I can figure out how much I owe Revenue for CGT?

    I had a look on their help centre but that says they can only give a report for the previous financial year and not the current one
    (https://helpcentre.trading212.com/hc/en-us/articles/360008145758-How-to-get-a-Tax-Statement-for-the-financial-year-)

    There's no export to csv option that I can find so going back and manually inputting a years worth of transactions and figuring out how much I made / lost on each one will get pretty tedious pretty quick. Does anybody know a better way?


  • Registered Users Posts: 11,386 ✭✭✭✭ Timmaay


    timetogo1 wrote: »
    Anybody know how to get a report of profits / losses for the year so I can figure out how much I owe Revenue for CGT?

    I had a look on their help centre but that says they can only give a report for the previous financial year and not the current one
    (https://helpcentre.trading212.com/hc/en-us/articles/360008145758-How-to-get-a-Tax-Statement-for-the-financial-year-)

    There's no export to csv option that I can find so going back and manually inputting a years worth of transactions and figuring out how much I made / lost on each one will get pretty tedious pretty quick. Does anybody know a better way?

    Very same issue here, and I've emailed them, the best they can do is email me monthly pdfs from Jan to Nov, no option for them to simply sent me a csv xls etc. Fairly pathetic stuff feom a company like this, and it certainly doesn't inspire me to use them as much moving forwards.


  • Registered Users Posts: 17,013 ✭✭✭✭ namloc1980


    I think they mentioned on their forum that it's on their roadmap for the future to have reports like that. I keep my own excel spreadsheet.


  • Registered Users Posts: 644 ✭✭✭ timetogo1


    namloc1980 wrote: »
    I think they mentioned on their forum that it's on their roadmap for the future to have reports like that. I keep my own excel spreadsheet.

    Yeah, me too. It's a bit complicated when I've been buying fractionals. I'd prefer to have an official report in case I find out next year that their official report is different from my spreadsheet.
    I suppose we get what we're paying for :D
    Degiro give a decent report (sometime this month) I have most of my trades in there and was experimenting with Trading 212. It's worth the few quid a year that I pay Degiro in fees if I'm buying & selling frequently.


  • Registered Users Posts: 1,879 ✭✭✭ rgossip30


    I invest in Indices only there is an advantage in that you can sell quickly in a downturn . Fees are lower than investing with an institution .
    Do Irish revenue expect one to pay tax each year as its a disadvantage over the traditional investing . This requires you to pay any tax after 8 years only .


  • Registered Users Posts: 1,557 ✭✭✭ uli84


    Are irish banks charging for the fund transfers via bank transfer to trading 212 account?


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  • Registered Users Posts: 11,386 ✭✭✭✭ Timmaay


    Timmaay wrote: »
    Very same issue here, and I've emailed them, the best they can do is email me monthly pdfs from Jan to Nov, no option for them to simply sent me a csv xls etc. Fairly pathetic stuff feom a company like this, and it certainly doesn't inspire me to use them as much moving forwards.

    Csv export feature added now.


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