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dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
No isa wrapper in etoro.

When trading outside of my wrapper I tend to place my bets and take my profits in mind that there's a 12k GCT threshold.
 

shmmeee

Well-Known Member
Jul 11, 2011
32,715
24,424
313
Coventry, United Kingdom, United Kingdom
Not sure about Revolut to be honest. I know it’s not like a real bank.

I did Google but I’m not smart enough to understand what I found so if you do find out I’d be interested. Just treating it as a play account and using the kids account feature for pocket money at the moment.
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
etoro does claim to be fca regulated and so the 85k protection applies.

And I don't plan to use it for anything other than exposure to cypto (a measured punt as a hedge).
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Interesting

Just been reading a bit about this. It just shows how cypto has really involved over the years whilst I wasn't looking. I can't help thinking that whilst all these systems are decentralised, the new piper (s), such as Paypal, will still look a lot like the old pipers of old.

I went to look at INJ's share price - yet another one that's taken off since last month - like everything it seems.
 

Marty

Well-Known Member
Mar 20, 2011
6,073
1,981
213
Etoro are covered by the FSCS. The FCA has a register you can search on their website.

Some firms do come under the same umbrella though, even though you may have accounts at different places, if they share the same license you're only limited to a max of 85k.
 

Greggs

Well-Known Member
May 8, 2012
4,257
3,276
213
cheers guys, good to know. thanks
 

Timperley

Well-Known Member
Jan 21, 2018
1,038
978
263
Timperley
Not sure about Revolut to be honest. I know it’s not like a real bank.

I did Google but I’m not smart enough to understand what I found so if you do find out I’d be interested. Just treating it as a play account and using the kids account feature for pocket money at the moment.
I've used Revolut for about 5 years now, It's brilliant. Still have a bank account that my wages go into but all my spends go through Revolut now.
Booked flights with Flybe on it and they got me my money back when they went bust.
I've also had a few different Cryptos on there for a while now.
It's an absolute no brainer to get one for use abroad. Used it in Mexico, Sri Lanka and Europe with no problems.
 

CCFCSteve

Well-Known Member
Aug 11, 2011
3,083
2,008
163
I've used Revolut for about 5 years now, It's brilliant. Still have a bank account that my wages go into but all my spends go through Revolut now.
Booked flights with Flybe on it and they got me my money back when they went bust.
I've also had a few different Cryptos on there for a while now.
It's an absolute no brainer to get one for use abroad. Used it in Mexico, Sri Lanka and Europe with no problems.
Yeah, only used as a card abroad, great rates !(limited cash withdrawals but that’s become less of an issue over the years)
 

Greggs

Well-Known Member
May 8, 2012
4,257
3,276
213
This guy! Fair play!
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Following on from the discussion about zero-commission platforms, this was in the FT today

The GameStop saga has turned the spotlight on the low-cost trading platforms which have allowed millions of ordinary Americans to trade stocks easily. Regulators are now expected to scrutinise the practice that finances the zero-fee business model of key broker Robinhood: selling order flows to other Wall Street businesses.

Payment for order flow, or Pfof, involves exchanges or market-making companies such as Citadel Securities or Virtu Financial paying brokers for the right to execute orders for their clients. It is big business. US brokers collected almost $3bn in such payments last year. Proponents say the system lowers trading costs for small, retail investors and allows them to get better prices.

Individual investors opened more than 10m new brokerage accounts in 2020, according to JMP Securities. Critics say the arrangement sets up an inherent conflict of interest. Brokers could be tempted, these critics claim, to route orders to firms that pay the most for them.

That could collide with an overriding US legal duty to get clients the best price on their trades. Robinhood just recently faced a Securities and Exchange Commission enforcement action on this issue. But meeting that duty is complicated by the existence of multiple exchanges and trading platforms.

For many brokers, it is easier to deputise the job to a middleman such as Citadel Securities. This is a market maker, a breed that covets small buy and sell orders, which are easy to balance. They are willing to offer narrow spreads when these arrive in bulk. Profits are slim, often a fraction of a cent. But they add up if you are executing millions of trades. There is meant be an impenetrable Chinese wall between dealings for clients and proprietary trading at market makers, to stop exploitation of client data.

Worldwide, brokers and market makers have a historic record of front running — buying and selling for themselves to profit from price moves triggered by client orders placed afterwards. US regulators now have their work cut out. They need to trawl through oceans of price data to check the principle of “best execution” is being honoured. They must test the robustness of Chinese walls. And they should require hidden costs to clients to be disclosed.

Watchdogs must also confront two far trickier questions. Are clients of zero-fee brokers actually paying in data, as social network users do? And does this twist economic incentives in a way that is unacceptable? For Robinhood and its backers, the answers could be painful.

-----

Just on a note as well, I've now found that when making deposits in etoro, which accounts are dollar-based, you are shown the conversion rate before depositing. When you make a withdrawal, however, not only you are charged $5 for the privilege but the exchange rate for pounds is not shown. I'm still waiting for a withdrawal to be processed to see what actual rate they sting me with.

No such thing as a free lunch.
 
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Corrado

Well-Known Member
May 1, 2014
1,128
968
213
Following on from the discussion about zero-commission platforms, this was in the FT today

The GameStop saga has turned the spotlight on the low-cost trading platforms which have allowed millions of ordinary Americans to trade stocks easily. Regulators are now expected to scrutinise the practice that finances the zero-fee business model of key broker Robinhood: selling order flows to other Wall Street businesses.

Payment for order flow, or Pfof, involves exchanges or market-making companies such as Citadel Securities or Virtu Financial paying brokers for the right to execute orders for their clients. It is big business. US brokers collected almost $3bn in such payments last year. Proponents say the system lowers trading costs for small, retail investors and allows them to get better prices.

Individual investors opened more than 10m new brokerage accounts in 2020, according to JMP Securities. Critics say the arrangement sets up an inherent conflict of interest. Brokers could be tempted, these critics claim, to route orders to firms that pay the most for them.

That could collide with an overriding US legal duty to get clients the best price on their trades. Robinhood just recently faced a Securities and Exchange Commission enforcement action on this issue. But meeting that duty is complicated by the existence of multiple exchanges and trading platforms.

For many brokers, it is easier to deputise the job to a middleman such as Citadel Securities. This is a market maker, a breed that covets small buy and sell orders, which are easy to balance. They are willing to offer narrow spreads when these arrive in bulk. Profits are slim, often a fraction of a cent. But they add up if you are executing millions of trades. There is meant be an impenetrable Chinese wall between dealings for clients and proprietary trading at market makers, to stop exploitation of client data.

Worldwide, brokers and market makers have a historic record of front running — buying and selling for themselves to profit from price moves triggered by client orders placed afterwards. US regulators now have their work cut out. They need to trawl through oceans of price data to check the principle of “best execution” is being honoured. They must test the robustness of Chinese walls. And they should require hidden costs to clients to be disclosed.

Watchdogs must also confront two far trickier questions. Are clients of zero-fee brokers actually paying in data, as social network users do? And does this twist economic incentives in a way that is unacceptable? For Robinhood and its backers, the answers could be painful.

-----

Just on a note as well, I've now found that when making deposits in etoro, which accounts are dollar-based, you are shown the conversion rate before depositing. When you make a withdrawal, however, not only you are charged $5 for the privilege but the exchange rate for pounds is not shown. I'm still waiting for a withdrawal to be processed to see what actual rate they sting me with.

No such thing as a free lunch.
You can change your balance to £ in setting if you were unaware. Trades still in $ tho.
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
You can change your balance to £ in setting if you were unaware. Trades still in $ tho.
Yes, but when you make a withdrawal you only get to see the dollars, not the rate at which they will be converted. So what see as pounds before the withdrawal may not be what you get back, less the five dollars.
 

Marty

Well-Known Member
Mar 20, 2011
6,073
1,981
213
Has anybody got an experience will trading currencies??

I was looking at trying to get some holiday money for when we're allowed out and noticed that the Brazilian Real price has dropped significantly in the previous couple of years. Going from around 4BRL/1GBP to now 7.5BRL/1GBP. Anybody got any insight into this, I'm guessing some of it is due to the pandemic, but even so, plenty of currencies are still relatively stable.

It's not something I've ever touched before so completely in the dark. Any help would be greatly appreciated.
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Most folks use spread bets, and typically trade on intra-day movements based on technical analysis, rather than longer-term bets based on a consideration of economic fundamentals.

Or there are ETF funds that deal in exchange-traded options that you can dabble with, but again these are shorter-term trading instruments, not investment funds.

I'd very strongly advise against it unless you felt truly competent with either approach.

There's possibly some sort of hedged exchange rate tracker funds out there and which might be less volatile, but all in all I wouldn't be trading purely on ERs.

I follow the Brazillian real to the dollar as I trade on Coffee ETFs. Coffee is traded in dollars, but as Brazil is the main coffee producer then ERs come into the equation when looking at up/down trends in coffee prices. I understand the risks with ETFs - that they track the movement in underlying prices (e.g. coffee), rather than the price itself - but it's proved a useful trading tool to date, and I'm actually started to trade more heavily with this instrument now - just hope it doesn't go tits up, fingers crossed.
 
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Marty

Well-Known Member
Mar 20, 2011
6,073
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Most folks use spread bets, and typically trade on intra-day movements based on technical analysis, rather than longer-term bets based on a consideration of economic fundamentals.

Or there are ETF funds that deal in exchange-traded options that you can dabble with, but again these are shorter-term trading instruments, not investment funds.

I'd very strongly advise against it unless you felt truly competent with either approach.

There's possibly some sort of hedged exchange rate tracker funds out there and which might be less volatile, but all in all I wouldn't be trading purely on ERs.

I follow the Brazillian real to the dollar as I trade on Coffee ETFs. Coffee is traded in dollars, but as Brazil is the main coffee producer then ERs come into the equation when looking at up/down trends in coffee prices. I understand the risks with ETFs - that they track the movement in underlying prices (e.g. coffee), rather than the price itself - but it's proved a useful trading tool to date, and I'm actually started to trade more heavily with this instrument now - just hope it doesn't go tits up, fingers crossed.
Excellent post, I think I will completely avoid it, it's not something I would feel completely comfortable with, going to swap a bit for my holiday money and that's it. Just need to get the gyms open so I can get the body ready for Copacabana beach.
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Sounds a smarter and more enjoyable use of the money to me!
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Cannabis stocks surge: Several medical cannabis companies surged yesterday, including Tilray (+40.7%), Aphria (+25.2%) and Cronos (+6%). The recent gains are attributed to news out of the US state of Virginia, which passed initial legislation to legalize recreational use of marijuana
 

Greggs

Well-Known Member
May 8, 2012
4,257
3,276
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Cannabis stocks surge: Several medical cannabis companies surged yesterday, including Tilray (+40.7%), Aphria (+25.2%) and Cronos (+6%). The recent gains are attributed to news out of the US state of Virginia, which passed initial legislation to legalize recreational use of marijuana
.......and today they crashed, hopefully not 2018 all over again. Cost me 20% so far, am up 100% last 3 months though!
 
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Greggs

Well-Known Member
May 8, 2012
4,257
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Kanabo up 250% on initial IPO. Some rich people just got richer. Will wait for it to trace back to 7-8
 
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Marty

Well-Known Member
Mar 20, 2011
6,073
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Kanabo up 250% on initial IPO. Some rich people just got richer. Will wait for it to trace back to 7-8
Fuck sake, completely forgot to get some
 

Greggs

Well-Known Member
May 8, 2012
4,257
3,276
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Fuck sake, completely forgot to get some
hit 300% before some profit takings. Jumped from IPO of 6 to open at 13.50, currently 16.75. May be worth risking it to get in before first RNS from new BOD. May very well rally to 50p, but has been hyped to this hilt recently. I'm waiting to get it at RRP ;) haha
 

Marty

Well-Known Member
Mar 20, 2011
6,073
1,981
213
Just got £250 worth of the pot stocks. Hopefully someone over at WSB's pumps it to fuck. To tha moon etc etc.
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Had it down in the calendar as tmo, hah! Not concerned because from past experience I know that rise would have been largely from initial auctions and I'd been unable to buy. But agree, worth keeping an eye on a few month's time to see if the profit takers have brought it down to buying levels.

Bet this one will be impossible to buy into on the morning of the day, as well

 

Greggs

Well-Known Member
May 8, 2012
4,257
3,276
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SO tempted to dip in, but 19.5p seems way too high. Was only going to grab 5000 shares, but it's a bit risky! FOMO sucking me in!!!
 

Greggs

Well-Known Member
May 8, 2012
4,257
3,276
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Got in for 5500 shares just before close. Mostly for sentiment - nice to be involved in the ride from day 1. Will add more if it drops :)
 
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Greggs

Well-Known Member
May 8, 2012
4,257
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Greggs

Well-Known Member
May 8, 2012
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At 5p a share, possibly worth a few quid.
it will probably open 100% above that after insiders have had a go. Also, it's synthetic cannabis created in a lab - rather than extracted from the natural flower! Penny stocks are fun though, i may dabble :)
 
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Greggs

Well-Known Member
May 8, 2012
4,257
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Spent last night scrolling through old emails in the hope I’d sent myself a copy of my Bitcoin wallet password. No luck. Did find another old account I’d used on the dark web but nothing in it :(
Oh mate!!! Keep on searching!!
 

Marty

Well-Known Member
Mar 20, 2011
6,073
1,981
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Sold half of KNB at 167% profit. Free ride from here on out, Who ever gave the heads up, I owe you a drink.
 

dubed

Well-Known Member
Aug 14, 2012
3,741
2,044
213
Well done Marty and Greggs. To compound the fact that I didn't jump on Kanaboo after its first day's rise I un-characteristically made a rash gamble on something against all usual rational thinking - emotion. In simply checking on my loss-making position but not looking to trade I had a fat finger moment and accidentally clicked sell. Lost £800 in a moment, and I knew I could have likely sold later nearer breakeven, which turned out to be the case.

Have other things going on at the mo, so haven't really got my head into a trading space.
 
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Marty

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Mar 20, 2011
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Well done Marty and Greggs. To compound the fact that I didn't jump on Kanaboo after its first day's rise I un-characteristically made a rash gamble on something against all usual rational thinking - emotion. In simply checking on my loss-making position but not looking to trade I had a fat finger moment and accidentally clicked sell. Lost £800 in a moment, and I knew I could have likely sold later nearer breakeven, which turned out to be the case.

Have other things going on at the mo, so haven't really got my head into a trading space.
Happens to the best of us mate, MODE is ready to pop if you fancy a punt.