Then how to take back money if top-up from bp?

Spend it hehe

ah got me broker confused... rest was referring to bp

should be able to withdraw only up to deposit amount... anything more need to use wire or others... this is standard sop for brokers that accept credit/debit card deposits

How to withdraw the excess profit? I tot 212 don't support wire.

got

did not see that option on my withdrawal page. only see card option

because i top up using bp so cant that see option?

This post has been edited by theberry: Sep 3 2020, 06:07 PM

I think so

https://helpcentre.trading212.com/hc/en-us/...drawal-methods-

Last month I received the fund at my Bigpay account, but not from 212, is from Etoro instead

u fund etoro?

have you withdrawn to bp more than deposit?

1-2 yrs back I checked a lot of brokers and they only allow withdrawal up to your deposit amount, anything more need other methods. they essentially are doing a card refund so can't do more than what you have spent...

maybe it's different now and my info is obsolete...I have usd I wanna bring back so this is good news

i am using Etoro and 212.

no, the withdrawal fund is smaller than my deposit amount.

Depositing money into trading212 is easy. But withdrawing to BigPay can be costly. BigPay isn't a multi currency cash account. It can only hold MYR currency. Any withdrawals/refunds from trading212 to BigPay may incur TT fees / currency conversion fees (as mentioned by Ramjade). These conversion fees (for the refunded amount) may not necessarily follow BigPay's rates.

The second problem is, withdrawing money from BigPay is troublesome and costly. Recently, BigPay has reduced withdrawal limit via bank transfer to RM 1,000 per withdrawal (maximum RM 2,000 per month), with RM0.50 fee per withdrawal. If you want to withdraw more than RM 2k from BigPay, you have to visit ATM to withdraw in cold hard cash. There is a RM6 fee per withdrawal. There is a limited amount that you can withdraw, depending on the type of ATM bank, location of ATM, day of week, and even time of withdrawal. Very few ATMs in Klang Valley allow withdrawals of RM 4k. Most ATMs have a RM 2.5k or RM3k withdrawal limit. Good luck hunting.

If you still wish to proceed with Trading212, your best bet is with transferwise. You need to get a multicurrency cash account. But this feature isn't offered to Malaysians.

Leave your options open. Do not limit yourself to deposit and withdraw via BigPay only. Stop wishful thinking that Trading212 will offer more withdrawal options in the future. You need to prepare for the worst, and hope for the best.

That's the reason I don't use trading212. I cannot figure out how to deposit and withdraw large amount without going through banks.

Small fund size player less than 1k USD should be ok? I guess?

Overtime you think your value stick at USD1k?
Don't you think it will go to USD10k, 20k, 30k?

Playing small sized fund is ok dont put all egg in 1 basket ma.
Because 212 offer fractional shares no inactivity fee compared to ibkr and tsg

This post has been edited by theberry: Sep 7 2020, 01:43 PM

I made withdrawal once on 3/July to my credit card

USD 500 vs MYR 2,191.65 (rate 4.38)

I checked the histrorical rate, the rate on 3/July was 4.29 (highest)
It should be no TT fees if revert back the fund to credit card.

This post has been edited by Kudo2012: Sep 8 2020, 07:15 PM

tt uses swift system

mastercard uses own system... so no tt fees... normally they charge cross-border fees but for now bp waived this

MasterCard fx rates is usually very good... close to spot market... they used some mid day mid band average I forgot what liao...

My experience so far on this platform.

I used to study in the UK. So I have a digital bank account (Monzo) based in the UK with substantial GBP denominated savings. But I only managed to open a Trading212 account well after my resident pass expired. Hence, I can only choose to fund my account with two base currency, USD or EUR. I used EUR coz I wanted to focus on buying in the European markets.

In terms of funding the account, Monzo seems to apply the best rates. There are no bank fees and the rates follow exactly Mastercard's rates. (Although I suspect Mastercard has their own spreads). So this seems to be the cheapest way to fund my account rather than use my MYR funds.

In terms of buying the securities. So far, it appears that even with currency conversion, there is almost no fee charged. So using my EUR account to buy a stock in GBP, it appears to be converted at a market FOREX rate with no add-ons. (If got also, it seems to be very small even for trades of around a few hundred EUR).

Withdrawal is relatively slow. I tested with 1 EUR and it took about 3 - 4 business days for this to be wired back to my account. The rate is again at the Mastercard rate with no extra fees charged by either Trading212 or my bank.

One thing about the zero commission I still can't clarify is whether there are spreads built into the prices of the stocks/ETFs. I suspect got, but it appears to be tiny. (i.e. the price of the stock closely resembles the actual stock prices on the respective exchange). But I'm still unclear so if anyone knows about it, I would appreciate your help

Trading212 vs eToro for US stocks? Any sifu have any advice?

Considerations around all fees, ease of getting money in & out, and also secureness/regulations (FCA vs ASIC if it makes any diff for us).