Ok, been hit with the news that my current provider are introducing fees which I'm bot particularly happy with. So, looking at some other provider to transfer everything to, and would like from anyone who trades, any feedback on what they use and costs? Didnt realise that so many existed tbh, so it's kind of bust my brain a little
I don't know exactly what you mean by share platform but if you mean stock then I use Trading 212. No charges, but it does frustrate me how it doesn't just buy the stock and gives you a balance that includes the money you've invested. To be honest, and this is a bit slack on my part, I don't understand it fully but I'm guessing your deposit is there to cover any drops in share prices.
Ok I was looking at etoro. Seems ok, but also interactive inverter seems decent. Will have a look at those 2 I dont need to transfer stock now, I've bitten the bullet and requested sale and account close, so I guess I'm free to explore from scratch
If your stock drops in value you'll be asked to invest more money to cover the shortfall or sell. That's what I was trying to explain by saying it doesn't just buy the stock for you and let you watch your earnings or losses. It's quite difficult to fully work out where you stand sometimes.
I use etoro atm. The crypto spread is quite a bit on some of them but the standard share ones are pretty good. No fees on normal trading except for withdrawing which is $5 regardless of amount. One downside is they dont have all the stocks atm. They also have a decent copy trader system if you are into that sort of thing.
Does it not give you the option? Just been looking at it (I don't use the service) and it looks like they offer both share trading and CFDs - what you're doing sounds like a CFD, but surely normal share dealing shouldn't do that?
This is where I openly admit I don't actually know what I'm doing. I just wanted to be able to buy stock and not be charged, so I dived straight in without reading up on anything. I couldn't even begin to pretend to know the difference in share trading and CFDs.
CFDs are risky...but can also give enormous gains and enormous losses. https://www.ig.com/uk/cfd-trading/what-is-cfd-trading-how-does-it-work
As the one loko uses is not taking new accounts, I've opened one up on etoro. Still working my way around the app, but it looks ok so far. I've already taken advantage of the copy option as a starting point and have a few quid ready to buy myself when markets open. Doesnt seem to want to take an order off me to buy as it opens like. Also whilst I can see an overall value etc in sterling, dont seem to be able to have that conversion on individual stocks/copy options. But that might be me trying to work out how to use it tbf
Yeah the individuals always show in dollars, even on the normal website. I dont think there is any way to change it yet. I tried putting a US premarket share in on the app too yesterday and it didnt go through so put it through on the website instead, that seemed to work OK. I'm pretty to new to stock and shares so working my way through whats a decent share and what to take a punt on. It's quite the wild ride.
