Moving your ISA to Trading 212 was a bit pointless. I have Trading 212 ISA Stock/Shares opened up in April 2024 (Growth share trading only). I would advise to consider it carefully I have kept my main ISA with H/L for coverage/information and easy access to paying Dividends directly into your Bank Account ( I only Invest monthly via their Monthly Saver no fee only stamp duty like most other platforms).
Trading 212 has draw backs the Interest Rate 5.2% on free cash in account is good the drawback is your not covered by FCA £85,000 as you signed the waiver (ISA is at risk if you sign it as your not covered). The other drawback is that Trading 212 can use your shares. ALWAYS read the small print.
Happy Investing |
Suckered inNo such thing as a free lunch |
head of steam to xd day...then back to 22.25. |
That's a good rate, I think Bats will be nearer or over 2500p before ex div 27th June. |
I've been moving my ISA money from ii to Trading212, great platform so far |
Trading212 pays 5.2% (paid daily) on uninvested cash
also no trading fees and amazing exchange rates if buying and selling US stocks |
Think Bestinvest is over 4% on the cash component of ISA. |
Of course agree, but I trade my stocks and shares isa, so when in cash waiting for opportunity, it's nice to know still earning 3.75% tax free. |
I don't see the point in cash ISAs. You should really own investments in ISAs you can buy short term gilts for excess cash. If you want higher interest in an ISA you can buy a money market fund or short gilts but with a high coupon as opposed to the discounted low coupon variety which are tax efficient outside of an ISA |
Shares held in nominee accounts are still yours (subject to administration), cash is at risk over GBP85K but also any buy/sell transactions that might be in settlement at the time IF any provider went pop should that value exceed the FCSA limit, an unlikely event but a risk all the same..
27th XD could offer up some more bargains, but will more than likely recover the XD on the day.. :o) |
Tag yes your spot on with that comments someone said to me if it's invested they have to honour your investment as its not in cash.
Nellynel thanks for your answer and your spot on my interest was credited yesterday.
Cheers guys for good advise.
Atb
Ken |
Ken T, I believe that your risk, if your trading provider went bankrupt, is only if you are carrying more than £85k in cash. Your invested funds would be fine. You can get around having a large cash balance by investing in one market funds.
This is according to my pension advisor as asked him the same question.
Tag |
Scrwal
Will do cheers I like boards with ideas and advice I'll check this out.
My problem is I've built up a nice amount over the years in the isa and don't want to lose the privilege of it being tax free in all areas.
Atb
Ken
Ps I don't post that often but I am a BATS shareholder and have been adding to my position as the xd is due 27june let's hope for a rise into xd |
Ken T see this |
Monty I'm on 3.7% in my isa with hl it's a good rate as no tax.
Thanks for getting back ill ring ii on Monday see how things can be done
Atb
Ken |
Would not like to say, look at ii interest rates start at 2% for up to 10,000 then increases. Phone ii, they will advise you and tell you current interest rates. |
Monty how do I stand in moving isa funds to a different trading company ? Do I have to transfer the entire amount so I dint lose isa status or can I just transfer part of my current isa account to ii
I want to spread my funds between different trading platforms so as to keep within the compensation bracket which Is currently 85k
Any advise would be welcome.
Ken |
Monty i may move some funds to it in that case cheers |
I just emailed the complaint email at hl and it bounced back email domain unrecognised and I did double check to make sure the email was spelt correctly.
I think they've blocked it as so many people complaining |
I've has an account with hl since 2009 and interest on cash held has always been allocated on 9th of month for over 14 years and now it has failed are they having problems ashflow wise is my first instinct as they may be losing client base as people moving funds to the free trading platforms that are paying good monthly interestlike yours Monty
Thanks for replying guys |
Not had mine either |
I'm with ii, interest accrued daily paid monthly on time, 3.75% not to bad. |
Seems like no one has a HL account with cash? |
Tell me LLB, DGE is a very poor performer in my stable. £10k bought at 3232 on 15th August 2023. Just under £60 divi's since then. Might help if my holding got me a discount on a pint of the Black Stuff ;-) |
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