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For over a year now these tiny trades have been going through. Some for as little as pennies.
Due to the costs involved in the trading its obviously a party or parties with DMA but it all appears very strange and I would suggest suspicious.
Does anyone know how or who to report suspicious trading activity on AIM to, as I think this clearly fits the bill of thay description.
Lucando, I've been using the app "Trading212" to invest since September 2018 - until around a month or so ago you could literally by 1 single share of amur, commission free. Now they have a £1.00 minimum transaction amount, i.e. you cannot make an order for less than £1.00. This is free, there is no commission - they make the most of their money trading CFDs, and attract a lot users because they off their actual share dealing service without a fee.
Using apps like Trading212, users can invest tiny (or large) amounts at the click of a button, from the comfort of the sofa, or even whilst waiting for the wife to finish in the shop. I frequently purchase < £10.00 worth of Amur shares, simply because whenever my account is not a multiple of 10, I go purchase Amur shares for the amount that will bring the balance down to a multiple of 10. Therefore with this I can provide one real example of a perfectly legitimate reason for a string of small trades.
Thanks. I've never heard of this app. Do you not pay commission on your trades then?
No problem.
No, I have literally paid Trading212 £0.00 in fees. They offer 3 services essentially: CFDs, share trading (investing), and share trading through a stocks & shares ISA - all of which are free, although of course CFDs are HIGH risk, so they make a killing on that service i'm sure.
I personally use their service for my stocks and shares ISA, very happy with the service if i'm honest - they have a website version as well ( all free) , the graphs on the web version are more comprehensive than what you get on the app, all in a all a good service.
Hi Fedorio. 212 seems too good to be true, they must earn commission some how Maybe a higher spread compared to other providers? ATB Speedy
Hey Speedy,
Trading212 does have slightly high spreads then it's competitors it seems, I confirmed that today after doing a little research of my own. There is also a small currency conversion charge I believe.
For investing I think this is perfectly acceptable, I usually plan to hold my investments for a long time, so i'm not put off by buying in at the high-end of the price, and selling at the low-end.
Saying that, I have actually spent a couple of evening doing some "trading" on their app for fun, mainly trading some highly volatile stocks on the NASDAQ, it was easy enough to make some quick bucks trading on my phone in near real-time - this is all buying shares, I do not do CFD transactions.
Given Trading212 (and similar popular apps i'm sure) have a growing user bases, they will most likely offer some sort of premium membership (monthly subscription / in app purchases / etc). Their profit margin will be high on this for sure, so i'm not too fussed about them being crooked, there are a few legitimate ways I could think of for them to monetise that sort of platform and make some big bucks.
Cheers