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Trading 212 is so intuitive, fast & easy to understand and is just a great app overall. Just be aware that in very busy market periods you can struggle to get onto it.
Trading 212 is so intuitive, fast & easy to understand and is just a great app overall. Just be aware that in very busy market periods you can struggle to get onto it.
I looked at eToro as I thought the copy platform looked interesting. I went off the idea though after reading many bad reviews on Trustpilot, most stating it is very difficult to get your money out!
Engineous
No problem. Currently I only use IG for my spreadbetting account (to trade) - I stress I am NOT recommending others open this type of account given the high risk! Their platform and online app are excellent as is their customer service in my experience. I use traditional providers for my ISAs. The Financial Services Compensation Scheme (FSCS) limit is £85,000 so one should try to keep below this for funds/investments with each individual broker.
IG is regulated by the Financial Conduct Authority (FCA) and your funds are protected by the FSCS (up to £85,000) so it is perfectly safe to open an ISA with them. I intend to do the same in the new tax year.
I should add there are new providers who have appeared in recent years (zero commission) such Trading 212 and eToro. I think these tend to attract a younger audience but they also offer ISA products, are regulated by the FCA and protected by the FSCS. I think they tend to have much slicker web-based applications than the traditional providers. Perhaps others could advise on this?
Hope this helps
Happy
Decent watch. Capital.com trading analysis on youtube for the price of crude oil.
https://www.youtube.com/watch?v=vtAIAapZzH0&t=642s
Roll on to the next resistance stepping stone at 320.
Morning Happy,
Could I please ask your opinion on IG please? I started to use them this week and planning to move over my ISA as well since they provide ISA.
I understand you have more experience than me. Have you had any problem so far? Are they reliable provider? I believe they should be since they are allowed to open ISA, but I would appreciate for your opinion please.
Happy
Thank you very much for taking the time to post such a detailed response to my question. I really appreciate your time and opinion.
Here's to another good day.
Mark
Hi MarkGo
You asked earlier about my stated intention to take some trading profits at 300. Sorry I couldn't respond sooner because I had logged out for the day.
First, I'd like to echo some others here. The best and proven way to make money (and with much less stress) is to buy excellent companies based upon one's view of their fundamentals and outlook, and hold them for a long time in a well-diversified portfolio. This is what I aim to do in my ISA in which I hold a very large number of BP and RDSB shares among others (though, arguably, it's no longer diversified enough!). I averaged down and increased my ISA holdings in both BP and RDSB during 2020 to take advantage of the collapse in prices. I never do any short-term trading in my ISA.
Therefore, if you plan on buying some more to hold for the longer term collecting dividends and potentially reinvesting them (to take advantage of compounding), I think that's a sensible and rational investment strategy. I would try to add on days the SP dips in order to get the best possible average. I'm also assuming that you would continue to add in the 300s because you'll get more funds over time (not because you're waiting for a pre-determined higher target price before adding!).
I also hold a large number of trading positions for which I use IG. I add and reduce trading weights to respond to micro and macro considerations when I believe the market is mispricing news. For example, I didn't think the severe slumping leading into and coming out of our Q4 results was at all logical. So, I added positions very aggressively at 250-60. Some of these I have now sold so I probably hold 75% of my maximum trading exposure. As we enter the 300s, I plan to cut this to about 50%. I intend to run the remaining 50% through to 365 but I may start to taper approacing that target. Whilst I will not reduce my ISA holding at all this year, in my trading account I can be much more flexible (and never have FOMO). I focus on interpreting news flow, selectively taking profits and carefully managing risk.
Hope I that answered the questions!
(As always all IMHO, DYOR and please don't take any unnecessary or unaffordable risks.)
Best
Happy
Happy
Could I respectfully request your view now on your intention to take some profit at 300p now that we are in touching point? I am interested in your opinion as I intend on continuing to top up in the low 300s and hold.
Either way, great day and thanks for everyone's posts.
Best
Mark
...it should do, which is to close the wide (and unjustified) valuation gap to our supermajor peers. All the supermajors are rising but we are outperforming our peers. These themes both company-specific (valuation gap to peers, liquids bias and leverage to oil price and transportation fuels) and macro (reflation trade, investors seeking protection from inflation etc.) all have a long way to run and are catalysts for our rerating. We are far from our true valuation.
I'm gonna log off for the night and take stock again, tomorrow. Maybe we'll pass 300p this week rather than next, after all.
Been a good day. Have a great afternoon/evening all.
All IMHO. DYOR
Best
Happy