Second Thoughts

I did consider Treading 212 for the new ISA season (I’m a PMLP holder on IE, and as we know, that one has it’s issues)…However, a comment on Citywire from a user put me off. Basically you pay for the “free” thing via a larger spread than normal. That reminds me of EToro, which I briefly tried a while back, and left rapidly, for the above reason (and others, the place was full of idiots all trying to be copy traded, odd stuff),

So another year on IE it is :slight_smile:

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One of the things to keep in mind when choosing a trading platform is they have to make money somehow. If the platform does not explain simply how they make money, they are probably doing the following:

  • Wider bid-ask spread
  • Encouraging you to trade frequently
  • Encouraging you to trade riskier products

… and doing it in an opaque manner, e.g. structuring the product or the environment in such a way that gamifies trading – shows you a cute animation when your balance is up; tells you some hotshot trader is winning (by trading a lot) and prompts you to copy-trade etc.

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Even with crowdfunding IE is burning money like crazy. You made a loss of £2 millions in 2020/21 and a loss of almost £3 millions in 2021/22. The trend is worrying…

Its only a matter of time until the next “crowdfunding” a.k.a. “Shareholder diluting” round.

HI @chungf not sure if you came across this post?

Should help explain how we’re able to offer a free service without using the potentially harmful tactics you mention that so many others do. Hope that helps

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