Any UK/EU low fees broker offering CC deposit?

pietruzzo

pietruzzo

Hello everyone,

so far I have been using Trading212 as investment platform, and while its analysis tools are quite poor, I only really use it to execute orders, and is free.

The issue however is that being a free trading platform it lacks of way too many symbols and indexes, and so far this has been limiting my portafolio quite drastically.

Tldr: What I need is a broker that allows deposit from credit card, that has the complete portafolio of US symbols and indexes, professional tools for technical analysis, as well as low to moderate fees. Unfortunately deposit from credit card is essential to me as I am taking advantage of 0% interests for up to 15 months on a bunch of cc my wife and I own.

I have spent a great deal of time looking on brokerchooser.com , and from there Saxo Bank seemed the least reasonable fees ways. I got to say, at first glance its fees menu looks somewhat scary and complex to fully comprehend https://www.home.saxo/en-gb/rates-and-conditions/commissions-charges-and-margin-schedule .

I am not completely moving away from Trading212 as it wouldn't make sense to move my current portafolio somewhere I will be charged for, however on the new broker I will be handing a small portafolio of £5000 per year.

At this point I am wondering whether I will be left with any profit at all after paying Saxo for execution fees (min £10 x order) as well as %0.12PA of my investments.

I am wondering if any of you knows another broker that would be better suited for the needs expressed above.

Thanks
 
At least in the European country I am based, it is not allowed for brokers to accept cc, as the government want to protect you from losing money you do not have
 
ZBZB said:
Move the money from credit card to bank account then to any broker.
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I thought about it, but these credit cards will charge you 29% ARP for money transfer, while the 0% ARP is only for spending.
 
I decided not to move to Saxo bank as the overall fees will eat out a major chunk of my hypothetical yearly profit. I have managed to find away of moving the funds from the credit cards to another trading platform and refund them into my bank account free of charge. It isn't fast, it isn't ideal, but helps out with any FOMO instincts. I will stick with IB for now. Thanks
 
pietruzzo said:
I decided not to move to Saxo bank as the overall fees will eat out a major chunk of my hypothetical yearly profit. I have managed to find away of moving the funds from the credit cards to another trading platform and refund them into my bank account free of charge. It isn't fast, it isn't ideal, but helps out with any FOMO instincts. I will stick with IB for now. Thanks
More...

Transferwise might work? I have used them before without any issues.
 
I got your point regarding credit card payments. Lower ARP charges are my reasons also for funding my Fxview account through credit cards. Deposits are absolutely not an issue. Only profits cannot be withdrawn via credit cards - so to say, the capital exceeding the deposit amount. Both visa and mastercards can be used for transactions. However, the minimum amount deposit must be EUR 5000 per transaction, per day it has to be 15000, and monthly it has to be 25000.
I think Fxview should suit you fine because it is low cost as you require, and its trading tools are also advanced. Some other options you could explore can be IG and XM as they too have a decent range of investment options.
 
Why not use a currency transfer firm like Transferwise or Wordfirst.co.uk etc to transfer funds( Better exchange rate than using wires from your bank) to a USA broker and trade Indices or Micros Indices on lower margin?
 
toby400 said:
Why not use a currency transfer firm like Transferwise or Wordfirst.co.uk etc to transfer funds( Better exchange rate than using wires from your bank) to a USA broker and trade Indices or Micros Indices on lower margin?
More...

Ultimately what I did was I recharged my Trading212 account of £5000 using the CC in question, than withdrew the amount immediately after into my bank account for free. The withdrew amount was then deposited into IBKR. To be fair it isn't ideal as the whole transaction took a few days, but hey, I think I got the best deal out of it.

Thanks for the suggestions though. I will definitely look into those in the future should I need to move the funds faster.
 
elizabethf said:
I got your point regarding credit card payments. Lower ARP charges are my reasons also for funding my Fxview account through credit cards. Deposits are absolutely not an issue. Only profits cannot be withdrawn via credit cards - so to say, the capital exceeding the deposit amount. Both visa and mastercards can be used for transactions. However, the minimum amount deposit must be EUR 5000 per transaction, per day it has to be 15000, and monthly it has to be 25000.
I think Fxview should suit you fine because it is low cost as you require, and its trading tools are also advanced. Some other options you could explore can be IG and XM as they too have a decent range of investment options.
More...
thanks for the info mate, but I'm still not clear with credit card deposits on fxview
 
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