IB is not executing orders internally. I don't think that they ever have. Thomas Peterffy is very vocal against the practice of internalization. They offer the best execution in business through their smart router. So our clients get the same institutional-level execution as the big hedge funds that use them. There's absolutely no payment for order flow.
Free share - catches?
- Thread starter Diddums
- Start date
IB is not executing orders internally. I don't think that they ever have. Thomas Peterffy is very vocal against the practice of internalization. They offer the best execution in business through their smart router. So our clients get the same institutional-level execution as the big hedge funds that use them. There's absolutely no payment for order flow.
Ok, signed up, stuck a quid in, if the free share hits my account tomorrow I'm going to do some more research. Share dealing is something that's always interested me but the fees have scared me away so if this really is as simple as @Naima60 says then it could be a bit of fun.
We'll see. I'm extremely cynical and am waiting for the hidden fees to be wheeled out.
We'll see. I'm extremely cynical and am waiting for the hidden fees to be wheeled out.
Ah, I remember now why I also haven't gotten involved in this sooner. All the bull**** you find online. Even just finding an honest review is almost impossible, everyone's made millions of dollars and wants to share their secrets with me please buy my ebook please book my webinar please use my referral links please waaaaaaaaa.
It's just white noise. Looks like it's gonna hafta be the hard way.
It's just white noise. Looks like it's gonna hafta be the hard way.
It mostly is - that applies to both the books/resources you're looking for and the markets themselves tbh!
Yep. Still curious though. One thing I'm trying to figure out is whether this mysterious share is eligible for dividends, or whether I actually own it at all or if it's like that "investing" they call spread betting.
It's a real share, not a derivative. You are eligible to dividends. This promotion is for Trading 212 Invest which is about real equity.
Just to update this, the terms of the promo state the free share will be credited within 24h of the requirements being met, which were met on Thursday afternoon. Factoring in the weekend, as per the terms, that puts us at was past 48 hours now. No communication, I had to hop on your chat service to be told that it will be another 2 business days, together with some ambiguous text which can clearly be used as a get out clause.
I'm not put off as the service was quick and efficient, and the software looks good.
But when you're vying for peoples' money, you need to stick to the promise you make in your promo pages.
So, quick update.
I was given £16 cash, no share. Fair enough, blew it all on Aegon which seems to go up and down, just leaving it for now.
What has however seriously ****** me off is the spam. Every single day I get a text from someone offering some miracle get rich quick thing, and I can't reply to them either. Block one, another name pops up. I suspect they're all the same site but whatever.
Platform seems good but I won't be putting any cash in it yet. It's on shaky ground due to the inaccuracies of their sign up offer and the coincidental spam I've started receiving. Time will tell.
I was given £16 cash, no share. Fair enough, blew it all on Aegon which seems to go up and down, just leaving it for now.
What has however seriously ****** me off is the spam. Every single day I get a text from someone offering some miracle get rich quick thing, and I can't reply to them either. Block one, another name pops up. I suspect they're all the same site but whatever.
Platform seems good but I won't be putting any cash in it yet. It's on shaky ground due to the inaccuracies of their sign up offer and the coincidental spam I've started receiving. Time will tell.
Pretty poor in that case. Shame really as I'd like a self-investor platform that isn't too expensive. Was looking at Barclays yesterday and their minimum monthly fee is a massive turnoff.
Are you able to comment on what @Diddums experienced? It doesn't seem like a good start to reneg on your marketing offer.
There is also the slightly concerning comment about the spam he has received, which of course could be a complete coincidence. Does part of running a free service like this involve generating revenue by flogging customer details to third parties?
While this is a new service, I'll note your CFD/"bucket shop" arm has had a fair few bad reviews:
https://www.reddit.com/r/StockMarket/comments/7cqloj/trading212_scam/
https://uk.trustpilot.com/review/trading212.com
I guess perhaps people who want to see a UK version of RobinHood might need to wait to check out Revolut's offering rather than placing their faith in a company set up by some Bulgarian Bucketeers.
https://www.ft.com/content/e066ca88-698a-11e8-8cf3-0c230fa67aec
To put it quite bluntly, at this point I would advise people to stay away. Although the flags are generally small and of very little consequence, the fact that they're there in the first place makes me wonder where else in the business I will find inaccuracies and mistakes, which is unacceptable for a company of this nature.
I'll be keeping an eye on it because there's no denying the ease of use and potential, but it's not off to a good start.
I'll be keeping an eye on it because there's no denying the ease of use and potential, but it's not off to a good start.
Soldato
There have been other warnings earlier this month... https://forums.overclockers.co.uk/t...hort-term-gains.18842423/page-2#post-32409924
The experience of actually getting your money back out might not match the current ease of use...
The experience of actually getting your money back out might not match the current ease of use...
Exactly, hence my reluctance to go any further. As someone who was rather heavily invested in crypto (to the extent of taking my mining rig with me to work on nights so I could go live at 3am coin launches and whatnot) I am well aware of the lengths people will go to to avoid handing out any money.
I'm probably these guys' worst enemy, one teeny tiny little slip and I'm out.
Soldato
While I don't disagree with anything you've said about Trading 212, the comparison with Revolut is perhaps a little unfortunately. The business may be HQ'd in the UK but they're passporting a UK banking licence by qualifying via a European banking licence facilitated in Lithuania.
Cutting red tape and regulation, or keeping costs down, or something else? Time will tell.
I wouldn't touch Revolut with a barge pole, they're the shadiest looking company I've seen at this success level in years. Mark my words, they're going to vanish off the face of the earth one day and all the money with them.
Fair point @The_Abyss
@Diddums what sort of things have they done? I'm not a user of their services and I had thought they were reasonably well regarded.
@Diddums what sort of things have they done? I'm not a user of their services and I had thought they were reasonably well regarded.
In fairness that appears a fairly generic warning (except the percentage) that appears on the website of other CFD traders. It would lead me to the assumption that it's a message required by regulations and isn't necessarily suspect. Plus the thread related to shares and not CFDs.
Edit: at least I went on the top 4 results as recommended below and all had the warning.
https://www.money.co.uk/cfd-trading.htm
I cant remember off the top of my head, again small little details and their loophole abusing tactics only make matters worse.
Hooray, quick update time!
My "portfolio" (lol) is in the plus for the first time ever. A whopping 12p up on 4 shares in Aeon.
However, I still keep getting spam text messages so these clowns have obviously sold my info on like the lovely trustworthy people they are (I must've consented, but still, speaks volumes about their business ethics). The site I keep getting spammed with is willing to help me make $1500 a day, 100% free, isn't that nice of them? Those wall street clowns haven't glot a clue. These guys know where it's at and it's all 100% free!
Anyway. Still not recommending. Too many flags. Will update when I have more to share.
My "portfolio" (lol) is in the plus for the first time ever. A whopping 12p up on 4 shares in Aeon.
However, I still keep getting spam text messages so these clowns have obviously sold my info on like the lovely trustworthy people they are (I must've consented, but still, speaks volumes about their business ethics). The site I keep getting spammed with is willing to help me make $1500 a day, 100% free, isn't that nice of them? Those wall street clowns haven't glot a clue. These guys know where it's at and it's all 100% free!
Anyway. Still not recommending. Too many flags. Will update when I have more to share.