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Trading Platforms and Apps. Best one?

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  • 07-11-2020 11:53am
    #1
    Fergalicious
    Registered Users Posts: 23 ✭


    Hi people,

    I'm looking for a better trading app platform than Trading 212 as their USD-EUR rate seems to be shocking. I'm a newbie, in trading, but I was +204 in the green, in the market, yesterday so went to sell before a dip. Noticed Trading 212 were only giving me +115. The only thing I can think of is they use a ****e exchange rate to benefit themselves. Or they literally just don't give you "free" trades.

    So was looking at DEGIRO as my future option. I want to be ready for when the dust settles after the US election. Has anyone got a PROs and CONs list for DEGIRO?

    I'm open to other options too. I just have a bad feeling about Trading 212. Something dodge about what happened and now have a gut feeling to look for better options.

    All suggestions welcome on what app to use. Looking for one with the best FX rates. Need some genuine help here.

    Have revolut but a lot of stocks ain't on it.


Comments

  • Options
    #2
    whomitconcerns
    Registered Users Posts: 4,308 ✭✭✭whomitconcerns


    Fergalicious wrote: »
    Hi people,

    I'm looking for a better trading app platform than Trading 212 as their USD-EUR rate seems to be shocking. I'm a newbie, in trading, but I was +204 in the green, in the market, yesterday so went to sell before a dip. Noticed Trading 212 were only giving me +115. The only thing I can think of is they use a ****e exchange rate to benefit themselves. Or they literally just don't give you "free" trades.

    So was looking at DEGIRO as my future option. I want to be ready for when the dust settles after the US election. Has anyone got a PROs and CONs list for DEGIRO?

    I'm open to other options too. I just have a bad feeling about Trading 212. Something dodge about what happened and now have a gut feeling to look for better options.

    All suggestions welcome on what app to use. Looking for one with the best FX rates. Need some genuine help here.

    Have revolut but a lot of stocks ain't on it.

    Trading 212 were not giving you 115€ for 204$ you calculated or read it wrong.

    I use them myself and the rates are fine.

    If you are a professional investor or investing hundreds of thousands of pounds, the exchange rate may be an issue


  • Options
    #3
    Fergalicious
    Registered Users Posts: 23 ✭Fergalicious


    whomitconcerns wrote: »
    Trading 212 were not giving you 115€ for 204$ you calculated or read it wrong.

    I use them myself and the rates are fine.

    If you are a professional investor or investing hundreds of thousands of pounds, the exchange rate may be an issue

    Unless the USDEUR rate was completely different to what it is now I can't see where the other 95 EUR went.

    Is your account set up in EUR or USD?

    It does seem like it's too 'bad' to be true. But I cant for the life of me figure out what happened. Do you trade a good bit on the NASDAQ, NYSE with it? Before I really start I need some peace of mind that I'm not getting screwed.


  • Options
    #4
    whomitconcerns
    Registered Users Posts: 4,308 ✭✭✭whomitconcerns


    I'm in the UK at the moment and account is on GBP. But so far I have seen decent rates so far. Not invested a huge amount so far, but mainly in the us. I got into NIO at about $10 so that's working out pretty good 🙂


  • Options
    #5
    Fergalicious
    Registered Users Posts: 23 ✭Fergalicious


    whomitconcerns wrote: »
    I'm in the UK at the moment and account is on GBP. But so far I have seen decent rates so far. Not invested a huge amount so far, but mainly in the us. I got into NIO at about $10 so that's working out pretty good 🙂

    Ah ok. I see that they have a 1.4 pip spread at peak hours. But that still wouldn't make up the difference at all. Maybe it's my maths...

    Nice, bought some NIO myself at 31. Bit late to the show but green is always good. Have a look at SNDL. It's a penny stock at the moment but could be a nice gem this week.


  • Options
    #6
    DilD
    Closed Accounts Posts: 170 ✭✭DilD


    Apps like Trading212 can basically do what they like in a sense, you're not actually owning any underlying asset so is essentially a form of spreadbetting. Remember the Bitcoin hype in 2017? T212 would just stall trading and close positions when things got volatile and people were making large sums of money. They even made it so your positions in Bitcoin would automatically close every Sunday.

    As someone mentioned above if you have a large sum of money in your account I would steer clear of anyone like them. If you're just playing with a few hundred to find your feet then all those kinds of apps are the same, T212, Plus500, eToro, etc, etc.

    If you are using larger sums of money I recommend avoiding these kind of brokers. I use Interactive Brokers but I trade stocks not currencies, alhtough you can trade FX there too.


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  • Options
    #7
    chloerampl
    Registered Users Posts: 2 ✭chloerampl


    I haven't been trading stocks for very long, but I really like it...



  • Options
    #8
    chloerampl
    Registered Users Posts: 2 ✭chloerampl


    https://www.boards.ie/discussion/comment/117769579#Comment_117769579

    I think you should start with applications and platforms where you can learn what trading is and how this mechanism works. I don't know how you are, but at first I needed some lessons in this area. So I decided to invest in knowledge, and find a more unusual and fair trading model. I found such a model at David Gardner investor Spotlight. Believe me it is worth studying first, so you bypass a lot of failures that you may have in the future. Ulteriro also from here you can find out which applications you can use to invest. I hope that absolutely everything will be of use to you





    https://tradingskeptic.com/david-gardner-investor-spotlight/




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