Trading the stockmarket (NO Referrals)

cu3ed · 30 Jan 2021 at 07:51

Seems to be going towards AMC now.

antijoke · 30 Jan 2021 at 08:26

What are people using to trade? I tried to sign up for etoro but after uploading docs it’s just sat at pending verification. I’ve no idea if that means I can actually trade or not and seeing reviews online seem to hammer them for poor service...so, what’s recommended?

Gary* · 30 Jan 2021 at 08:31

antijoke said:
What are people using to trade? I tried to sign up for etoro but after uploading docs it’s just sat at pending verification. I’ve no idea if that means I can actually trade or not and seeing reviews online seem to hammer them for poor service...so, what’s recommended?

I joined etoro yesterday and got verified in a few minutes :eek:

antijoke · 30 Jan 2021 at 08:32

Gary* said:
I joined etoro yesterday and got verified in a few minutes

did you upload a passport and utility bill?

DireEmblem · 30 Jan 2021 at 08:38

dLockers said:
How would you go about making an assessment as to whether your funds are safe in a app you got from Play Store/Apple Store? Asking for a friend.

1) Check who is the ultimate owner/who operates the app.
2) Check to see where they operate from, which will then direct you to checking with the appropriate regulatory body.
3) Check said company are regulated by and listed on said regulatory bodies website.
4) Check to see if there has ever been any finding against said company.

Theres probably more to it, but since they are regulated by the FCA which have very specific rules in the segregation of client / company assets, they should be relatively safe. Cash funds are protected up to 85k, and your investments are held in a segregated account with Interactive Broker.

That was my view before signing up.

robinson09 · 30 Jan 2021 at 09:21

DireEmblem said:
1) Check who is the ultimate owner/who operates the app.
2) Check to see where they operate from, which will then direct you to checking with the appropriate regulatory body.
3) Check said company are regulated by and listed on said regulatory bodies website.
4) Check to see if there has ever been any finding against said company.

Theres probably more to it, but since they are regulated by the FCA which have very specific rules in the segregation of client / company assets, they should be relatively safe. Cash funds are protected up to 85k, and your investments are held in a segregated account with Interactive Broker.

That was my view before signing up.

Also, apps usually have websites these days too... https://www.trading212.com/en/Safety-and-Security

Gary* · 30 Jan 2021 at 09:26

antijoke said:
did you upload a passport and utility bill?

Just my driving license

RoboCod · 30 Jan 2021 at 09:27

Will be be very interesting next week, quite the story so far.

In other not-so interesting news, for the long term now my portfolio is spread across solar energy, wind energy, battery manufacturers, electric vehicles annnnd... American sports gambling

they all look like sectors that shall clearly grow and I like to hope that these kind of companies won't suffer too bad should this almost inevitable market crash and depression come.

Trig · 30 Jan 2021 at 10:54

Well I'll stick in with GME until everyone else sells, I'm up enough elsewhere to cover it if it goes to zero..

Jono8 · 30 Jan 2021 at 10:57

Are any of the brokers actually letting you buy GME stocks though at the moment? All the ones i have looked at seem to have suspended it.

darkgen · 30 Jan 2021 at 10:58

Are most T212 folk using an isa account to wrap it all up or combo with invest?

dlockers · 30 Jan 2021 at 10:59

Jono8 said:
Are any of the brokers actually letting you buy GME stocks though at the moment? All the ones i have looked at seem to have suspended it.

T212 although I think sign-ups are suspended.

darkgen said:
Are most T212 folk using an isa account to wrap it all up or combo with invest?

I'm in an invest account, I can't imagine I'll come out with a CGT problem

unwashed potato! · 30 Jan 2021 at 11:08

Jono8 said:
Are any of the brokers actually letting you buy GME stocks though at the moment? All the ones i have looked at seem to have suspended it.

T212 did yesterday late in the day allow me to

Jono8 · 30 Jan 2021 at 11:10

Apex said:
T212 did yesterday late in the day allow me to

yeh that seems to be the only one but they are not allowing new registrations.

Mull3t · 30 Jan 2021 at 11:12

T212 doesn’t seem to be getting near enough the same stick as the US brokers for manipulating the stocks, seem to be getting off very lightly.

tlrBeta · 30 Jan 2021 at 11:22

Mull3t said:
T212 doesn’t seem to be getting near enough the same stick as the US brokers for manipulating the stocks, seem to be getting off very lightly.

The 212 Forum went crazy, but they just ban people who mention too aggressive. I can't see how a firm can decide to just stop allowing buys or any similar action. I appreciate it was their intermediary but I'm not certain what the FCA will think.

I have a small loss of £50 which I'm not concerned about but I'm tempted to drop in a complaint and see what they say. If nothing productive, then also submit to the FOS - purely from principle.

Trig · 30 Jan 2021 at 11:35

T212 is just a broker though, do they still not have to go through someone else, if that someone else blocks the sale or limits it in some way what can 212 do about that?

Mesai · 30 Jan 2021 at 11:45

Trig said:
T212 is just a broker though, do they still not have to go through someone else, if that someone else blocks the sale or limits it in some way what can 212 do about that?

Don't they go through IB?

shifty_uk · 30 Jan 2021 at 11:46

T212 resumed normal service yesterday allowing you to buy gme with no outages. I understand they aren't allowing new sign ups though.

Certainly not as blatant as RH and others at their blocking of the stocks. RH presumably has a significantly larger user base though?

I cant believe Apple and Google have removed hundreds of thousands of reviews though due to policy violations... what violations, the reviews were accurate, the platforms blocked trades, regardless of the reasoning, it still happened.

shifty_uk · 30 Jan 2021 at 11:49

I was a late comer to the party but holding positions until next week. Lets see what market conditions are like on Monday. Im not holding much hope though, these funds will do everything in their power to avoid further loses.