Can you transfer from cash ISA to stocks ISA within Trading 212 without losing the yearly allowance? Also, why an equally high interest rate in the cash ISA without the risk?
I believe you can do that without losing your allowance, because the cash ISA is flexible. The answer to the second question is complicated, I can only guess that Trading 212 are losing money for it.
@@sabac6007 we are specifically speaking on them being haram. If you go on use your brain, your research will find sharia compliant is halal as they package their payment/ interest in a way to make it sharia compliant. But all in all the bank/ lender always makes his money
● UPDATE 28/11/24 (rate drop 4.9%) "Due to the Bank of England’s recent interest rate cut, we’ve decreased the interest rate on GBP (Pound Sterling) from 5.17% to 4.9%, effective as of the 1st of December 2024"
Thanks for quick reply. I googled quickly, as I am in higher rate, it’s 500 pounds. So I can make interest up to 500 pounds before paying tax correct? (On the invest trading 212 )
The timing of this video isn't great considering T212 have given up competing with Plum and decided to drop their interest rate to below 5% They maybe feeling the pinch as I had to go into their online chat to ask them why they hadn't paid my interest today ?
The Cash ISA almost seems too good to be true 😂 it’s where I keep my emergency fund, and seeing the daily interest payments come in is always motivating to see!
Unfortunately they've lower their interest rate to 4.9% from 01/12/2024 which is still market leading. Though wish they kept it at 5% being a psychological threshold for me , but all good things must come to an end.
Very new to this but very informative as are all your vids that I have watched. Maybe you can help on this. I have a stocks isa that I opened up about a month ago, after watching one of your vids, (on 212 trading) I put a small amount of money in to and have bought some shares and then sold some as well when I see the price go up, as well as have a few long term ones too. with it being a stocks isa is this something that I can do up to the 20k limit as long as I don't take money out? Example, I watched a company over a few days and bought only £10 of shares, a few days later they went high, I sort of built a pattern of how it was going so I then sold them and made a return of about £8.00....the following day the price went way down and I would have made a loss. hope you follow what I mean many thanks Jubair
@@clive-p9s it was an example as I did mention it, but it was actually microstrategy ,bought at 222 then got rid at 525 so I think it was about 57/58 percent. should have put loads of money on it lol, Im new to this as I said so not going to put loads in to anything until I get more comfortable with it, plus the fact Buffett seems to think there's a down turn coming up. thanks for replying at the moment the price has fallen massively
I know what you mean, but I can't give financial advice. There are a lot of pros and cons to short term trading, personally I don't see anything wrong with it, but think that holding long-term will probably be best for 99.99% of people
@@clive-p9s I did reply but it seems to have vanished. I bought at 222 and got rid at 525 so about 58 percent. I did say in my post as an example. maybe my post disappeared as I put the name of the company thanks
I just realised that it's actually been well over a year now since Trading 212 introduced interest on cash, so I've updated the title! Time flies!
Can you transfer from cash ISA to stocks ISA within Trading 212 without losing the yearly allowance? Also, why an equally high interest rate in the cash ISA without the risk?
I believe you can do that without losing your allowance, because the cash ISA is flexible. The answer to the second question is complicated, I can only guess that Trading 212 are losing money for it.
Isn't interest haram in this case?
Yes but each to their own, I don’t think it’s something he likes to comment on.
@@zeeshaanmir4056 is he muslim?
@@Shaz2952 well his name is but cannot 100% tell
So are your so called sharia compliant products, same thing just different name. Please use your brain and logic before commenting
@@sabac6007 we are specifically speaking on them being haram. If you go on use your brain, your research will find sharia compliant is halal as they package their payment/ interest in a way to make it sharia compliant. But all in all the bank/ lender always makes his money
Can I use this as a current account basically? Along with the card that they give
Not exactly a current account as Trading 212 are not a bank, but I guess you can use it as a place to spend
● UPDATE 28/11/24 (rate drop 4.9%)
"Due to the Bank of England’s recent interest rate cut, we’ve decreased the interest rate on GBP (Pound Sterling) from 5.17% to 4.9%, effective as of the 1st of December 2024"
Yep, literally the day after I filmed it
@@Dr.JubairsFinance 🤣 typical
Trading 212s cash ISA is bascially a current account since you can move money into the invest section then instantly spend it
Be careful when it comes to next year, you'll only be able to transfer the current year's ISA deposits without affecting your allowance
I maxed out on ISA account , if I put the rest on invest account to get interest, what’s the downside? Do I have to pay tax on it?
You'll be liable to pay tax on it yes, if you exceed your personal savings allowance.
Thanks for quick reply. I googled quickly, as I am in higher rate, it’s 500 pounds. So I can make interest up to 500 pounds before paying tax correct? (On the invest trading 212 )
@lifeofranco I will get in trouble if I give you tax advice, I'm definitely not an accountant. Sorry! But I think you know the answer.
Okay, loud and clear. Can you make a video maybe about buying house vs stock, pros and cons, in the uk market as it is now. 😊
Which is a best online tax for self employment via CFD trading profits?
What do you mean by best online tax?
@ how to income tax filing with profits from CFD trading any online website for taxes
Best to go through an accountant really
Also you forgot to mention it’s compound interest.
The timing of this video isn't great considering T212 have given up competing with Plum and decided to drop their interest rate to below 5%
They maybe feeling the pinch as I had to go into their online chat to ask them why they hadn't paid my interest today ?
I don't think their main focus was ever on interest, but seems like Plum is pulling out all of the stops here
The Cash ISA almost seems too good to be true 😂 it’s where I keep my emergency fund, and seeing the daily interest payments come in is always motivating to see!
Yep, I love seeing the daily payments!
I’m buying £1k of £VUAG this week 🎉
(£200 a day)
Do you know if we have a VOO equivalent in the uk ?
I believe it's the VUSA
@ sorry I meant a $vti equivalent 😂
SPY5? What do you want that's similar to the VTI? Price? Because I don't think you can get everything
@ the diversification,vti has 3644 stocks
Ohh, I see. Maybe the Vanguard FTSE All world (VWRL)
Unfortunately they've lower their interest rate to 4.9% from 01/12/2024 which is still market leading. Though wish they kept it at 5% being a psychological threshold for me , but all good things must come to an end.
Yes, they changed it just after I filmed this
Very new to this but very informative as are all your vids that I have watched.
Maybe you can help on this.
I have a stocks isa that I opened up about a month ago, after watching one of your vids, (on 212 trading) I put a small amount of money in to and have bought some shares and then sold some as well when I see the price go up, as well as have a few long term ones too.
with it being a stocks isa is this something that I can do up to the 20k limit as long as I don't take money out?
Example, I watched a company over a few days and bought only £10 of shares, a few days later they went high, I sort of built a pattern of how it was going so I then sold them and made a return of about £8.00....the following day the price went way down and I would have made a loss.
hope you follow what I mean
many thanks Jubair
You bought £10 worth of shares and sold them to made a gain 80% , which stock was this ?, sounds good ,
@@clive-p9s it was an example as I did mention it, but it was actually microstrategy ,bought at 222 then got rid at 525 so I think it was about 57/58 percent. should have put loads of money on it lol, Im new to this as I said so not going to put loads in to anything until I get more comfortable with it, plus the fact Buffett seems to think there's a down turn coming up.
thanks for replying
at the moment the price has fallen massively
I know what you mean, but I can't give financial advice. There are a lot of pros and cons to short term trading, personally I don't see anything wrong with it, but think that holding long-term will probably be best for 99.99% of people
@@Dr.JubairsFinance Thank you for the reply, totaly understand.
love the videos
ATB
@@clive-p9s I did reply but it seems to have vanished.
I bought at 222 and got rid at 525 so about 58 percent. I did say in my post as an example.
maybe my post disappeared as I put the name of the company
thanks
I’m better off transferring my savings into T212
That's up to you to decide, I advise you on that decision.
I have, it's great.
I would love to know how much you have made from investing over a year
I've documented my journey every month, just go back a year and see where I was, I made about 12% every year since 2021
bought a house yet?