Trading 212 app
Discussion
Hi
Starting a new thread as it's a bit off topic of the other thread like big gamble and share tips.
How is everyone funding t212? Have you managed to get money back out yet?
I find a few things odd and maybe I'm overly paranoid.
First, they are storing the card security number!! or at least I didn't have to enter it for a subsequent funding.
I supplied no photo ID as part of the sign up process. Isn't that a aml requirement or something?
Finally if you try to withdraw funds they ask for a password (but not when putting fund IN funny that) and then say the withdrawal funds will be pushed to the account that was "initially" used to fund the account - in my case a credit card. That doesn't make sense that you can't specify the beneficiary account, but also what use crediting a credit card with ISA withdrawal!
Just thought I'd put it out there. Maybe I'm being overly sensitive but thought I'd make others aware. There are good points too - no fees (at what cost!) and I've had four free shares from referrals (which incidentally count towards your 2020 ISA allocation).
Storing CVV is a big no-no as far as I'm aware from my PCI flirtations of the past.
Thanks
Mike
..and another thing - they are sending trading statements by email which contain the actual details including amounts. Not great.
Starting a new thread as it's a bit off topic of the other thread like big gamble and share tips.
How is everyone funding t212? Have you managed to get money back out yet?
I find a few things odd and maybe I'm overly paranoid.
First, they are storing the card security number!! or at least I didn't have to enter it for a subsequent funding.
I supplied no photo ID as part of the sign up process. Isn't that a aml requirement or something?
Finally if you try to withdraw funds they ask for a password (but not when putting fund IN funny that) and then say the withdrawal funds will be pushed to the account that was "initially" used to fund the account - in my case a credit card. That doesn't make sense that you can't specify the beneficiary account, but also what use crediting a credit card with ISA withdrawal!
Just thought I'd put it out there. Maybe I'm being overly sensitive but thought I'd make others aware. There are good points too - no fees (at what cost!) and I've had four free shares from referrals (which incidentally count towards your 2020 ISA allocation).
Storing CVV is a big no-no as far as I'm aware from my PCI flirtations of the past.
Thanks
Mike
..and another thing - they are sending trading statements by email which contain the actual details including amounts. Not great.
Edited by bmwmike on Tuesday 28th April 11:23
bmwmike said:
Finally if you try to withdraw funds they ask for a password (but not when putting fund IN funny that) and then say the withdrawal funds will be pushed to the account that was "initially" used to fund the account - in my case a credit card. That doesn't make sense that you can't specify the beneficiary account, but also what use crediting a credit card with ISA withdrawal!
Same as some gambling websites, it's to avoid money laundering and also to stop fraudsters changing the withdrawal method and stealing funds.BenjiS said:
They might not be storing the CVC, they might just be putting the transaction through without it. This is possible and they'll just get charged a higher rate by their payment processor, and have to accept more liability for fraud than if they used the CVC. As an example, Amazon process all transactions like this as they believe prompting for the CVC increases the friction of purchase.
That’s a fair point Amazon do the same it is ridiculously quick to buy stuff from them. Sending a contract note by email don’t other platforms do that? I know HL pop mine in the post which could get lost as easily as an email. Is this a big risk? That someone knows I own 2 shares in a company worth xx per share?
At the end of the day your money (up to £85k) is protected no matter how lax T212 are or seem to be.
Good point regarding Amazon payments, but t212 are not amazon, retail transaction volumes funding an ISA vs buying off amazon would be vastly different i'd have thought, and wouldn't t212 be looking to reduce ancilliary costs rather than pay for the luxury of avoiding occasional friction. Dunno.
Emails - every platform i've currently got sends me a email to say a message is waiting, and i log in to view the transaction details.
Problem with emails is you never know whats sitting around in an inbox.
Regarding the withdrawals, thats my fault for not examining that little detail too well before i funded the account. Best others are aware of it. I've personally never used gambling sites - didn't realise this was one either, but i guess it could be considered as one.
So assuming i pop a 20k full ISA allowance into t212 then decide to withdraw, i guess the best approach is to transfer to a different ISA provider rather than send the 20k to my credit card!!
Emails - every platform i've currently got sends me a email to say a message is waiting, and i log in to view the transaction details.
Problem with emails is you never know whats sitting around in an inbox.
Regarding the withdrawals, thats my fault for not examining that little detail too well before i funded the account. Best others are aware of it. I've personally never used gambling sites - didn't realise this was one either, but i guess it could be considered as one.
So assuming i pop a 20k full ISA allowance into t212 then decide to withdraw, i guess the best approach is to transfer to a different ISA provider rather than send the 20k to my credit card!!
I've got £500 in it.
I have to say that nothing about the app or website fills me with confidence which is why I'm limiting myself to £500.
The GUI is a mess, the infrastructure seems flaky. (eg my contract note email came through the day after the trade)
I'm happy to risk the £500 but am sticking to a more well know robust broker for my main trading.
I have to say that nothing about the app or website fills me with confidence which is why I'm limiting myself to £500.
The GUI is a mess, the infrastructure seems flaky. (eg my contract note email came through the day after the trade)
I'm happy to risk the £500 but am sticking to a more well know robust broker for my main trading.
i4got said:
I've got £500 in it.
I have to say that nothing about the app or website fills me with confidence which is why I'm limiting myself to £500.
The GUI is a mess, the infrastructure seems flaky. (eg my contract note email came through the day after the trade)
I'm happy to risk the £500 but am sticking to a more well know robust broker for my main trading.
Same here. 212 is a bit of fun money for me, more risky shares than I hold in my isa with HL. I have to say that nothing about the app or website fills me with confidence which is why I'm limiting myself to £500.
The GUI is a mess, the infrastructure seems flaky. (eg my contract note email came through the day after the trade)
I'm happy to risk the £500 but am sticking to a more well know robust broker for my main trading.
bmwmike said:
Finally if you try to withdraw funds they ask for a password (but not when putting fund IN funny that)
It would be a strange hack/ scam if someone logged into your account and preceded to fund your account. 
Cant see any gain in that rather than to buy some small micro cap stock, for them to then cashout their own position.
Benbay001 said:
bmwmike said:
Finally if you try to withdraw funds they ask for a password (but not when putting fund IN funny that)
It would be a strange hack/ scam if someone logged into your account and preceded to fund your account. Cant see any gain in that rather than to buy some small micro cap stock, for them to then cashout their own position.
Don't think i'd had my morning coffees at that stage.I signed up via a friend's link and got a free share in HP which is listed on the NYSE.
Curious why Trading212 never mentioned a W-8BEN form as it's a US share yet Hargreaves Lansdown do and say "All clients who want to trade US shares need to submit a W-8BEN."
I'm OK with doing a bit of "hobby" trading in the Trading212 app, but at the moment I can't see me using them for much more than maybe a few hundred quid.
Curious why Trading212 never mentioned a W-8BEN form as it's a US share yet Hargreaves Lansdown do and say "All clients who want to trade US shares need to submit a W-8BEN."
I'm OK with doing a bit of "hobby" trading in the Trading212 app, but at the moment I can't see me using them for much more than maybe a few hundred quid.
BritPop said:
I signed up via a friend's link and got a free share in HP which is listed on the NYSE.
Curious why Trading212 never mentioned a W-8BEN form as it's a US share yet Hargreaves Lansdown do and say "All clients who want to trade US shares need to submit a W-8BEN."
I'm OK with doing a bit of "hobby" trading in the Trading212 app, but at the moment I can't see me using them for much more than maybe a few hundred quid.
The W-8BEN form was shown to me during the registration step and was prepopulated based on what i'd provided. I am still puzzled why no need for formal photo ID.Curious why Trading212 never mentioned a W-8BEN form as it's a US share yet Hargreaves Lansdown do and say "All clients who want to trade US shares need to submit a W-8BEN."
I'm OK with doing a bit of "hobby" trading in the Trading212 app, but at the moment I can't see me using them for much more than maybe a few hundred quid.
bmwmike said:
The W-8BEN form was shown to me during the registration step and was prepopulated based on what i'd provided. I am still puzzled why no need for formal photo ID.
Ah ok... I probably wasn't paying enough attention when I signed up. Can't find a record of it in the app now though.I've just set up an account on my phone, just to have a dabble with a few hundred quid on a few shares.
Seems simple enough to use, and very quick to buy / sell. Not tried withdrawing any cash yet.
But my eyes aren't that great so I find doing everything on my phone a bit of a pain in the butt, so when possible prefer to use the laptop.
I don't know if i'm being thick, but I assumed it would be a simple case of going to the website login and away you go, but I can't seem to find a way of doing it on my laptop. (Browser is Google Chrome) or my old Android tablet come to that (just says device is not compatible)
Any ideas or suggestions appreciated. Thanks.
Seems simple enough to use, and very quick to buy / sell. Not tried withdrawing any cash yet.
But my eyes aren't that great so I find doing everything on my phone a bit of a pain in the butt, so when possible prefer to use the laptop.
I don't know if i'm being thick, but I assumed it would be a simple case of going to the website login and away you go, but I can't seem to find a way of doing it on my laptop. (Browser is Google Chrome) or my old Android tablet come to that (just says device is not compatible)
Any ideas or suggestions appreciated. Thanks.
foiled said:
Go to trading212.com and login from there? Or am I missing something? Works on Chrome for me.
If anyone wants the a free share on sign up, PM me
That's exactly what I'm trying to do. But I cant get it to work, it just seems to want to take me through the account set up process again. If anyone wants the a free share on sign up, PM me
Well I've just tried it again, and it came up with a completely different login page, went in no problem this time.
Maybe if you set up the account via the phone app, it takes some time to sync up with the website ???
Or maybe I'm just a bit of a pleb when it comes to all things tech related.
Maybe if you set up the account via the phone app, it takes some time to sync up with the website ???
Or maybe I'm just a bit of a pleb when it comes to all things tech related.
Been using Trading 212 for 6 months, no issues with it at all and it's refreshing to not get charged a silly amount per trade.
Also the option on fractional shares is great for some of the more expensive companies such as Amazon/Tesla/Alphabet etc, if you use the trading 212 community page which is there forum the staff actually reply and listen to users feedback as well which is another nice touch
Also the option on fractional shares is great for some of the more expensive companies such as Amazon/Tesla/Alphabet etc, if you use the trading 212 community page which is there forum the staff actually reply and listen to users feedback as well which is another nice touch
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