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Published: 25/03/2024
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Furthermore, receive 5.20% interest daily on any uninvested cash with this stocks and shares ISA.

 

Advertisement: This is sponsored content which has been paid for by Trading 212

 

Fintech company, Trading 212, is offering savers the opportunity to earn 1% cashback on all deposits into its Stocks and Shares ISA within the 2024/25 tax-year. Available to new customers only, you have until 30 April 2024 to sign up in time to take advantage of this deal.

In addition to being a first-time registered and Activated ISA Account holder (who activated their account between 29 January 2024 and 30 April 2024), you’ll also need to be a UK resident aged 18 or over and comply with any other terms to be eligible.

Customers who meet these criteria will then receive 1% cashback on any deposits made into the ISA from 6 April 2024 to 5 April 2025. The cashback will not be counted against your ISA allowance, since it will be credited to your Trading 212 Invest account.

 

Get 5.20% on your uninvested cash

Not only this, but the account also offers an attractive interest rate of 5.20% which is applied daily to any uninvested balances held in British pounds sterling (GBP).

There’s no minimum balance required to receive this rate; you simply need to log into your account, select ‘earn interest on cash’ and follow the instructions.

As with all ISAs, any interest earned is exempt from income tax. While there are no maximum balance requirements, you can only invest up to £20,000 across all ISAs each tax-year, as per the ISA allowance.

You should keep in mind, as a variable rate, the amount of interest you receive is subject to change over time. Any changes to the Bank of England’s base rate, for instance, could be reflected in the interest rate rising or declining.

It’s also important to note Trading 212 is not a bank. The fintech company earns interest through products such as qualifying money market funds (QMMFs), time deposits and current accounts.

QMMFs are a short-term, generally low-risk financial asset. However, they’re still treated as an investment which means the value of your ‘uninvested cash’ could go down if a QMMF were to perform poorly.

Furthermore, although your deposit and any assets held with Trading 212 are protected by the Financial Services Compensation Scheme (FSCS), your uninvested cash is not protected from a loss caused by a QMMF going down in value.

If you want guaranteed returns, you may prefer to opt for a cash ISA instead.

Is a stocks and shares ISA right for you?

Stocks and shares ISAs provide a tax-efficient way of investing in the stock market.

Generally speaking, they offer the potential for greater returns over the long term than earning interest with a cash ISA. However, it’s important to remember your capital is at risk when investing and, as returns aren’t guaranteed, there’s a risk you could lose money.

Furthermore, the extent of the tax benefits you derive depend on your own circumstances and could be changed in the future.

After understanding and weighing up the risks involved, if a stocks and shares ISA sounds right for you, find out more information and compare providers using our dedicated chart.

How can you open Trading 212’s Stocks and Shares ISA?

Trading 212’s Stocks and Shares ISA is available to open and manage online or via mobile app. Unlike some other platforms, it charges no account fees, commission fees or withdrawal fees.

 

Account features

There are over 13,000 global stocks and Exchange-traded Funds (ETFs) you can invest in with Trading 212’s Stocks and Shares ISA. The platform also offers a range of features which could help diversify your investment portfolio and meet your financial goals.

For instance, Trading 212’s ‘pies’ allow you to hold a collection of stocks and ETFs, with each security represented as a slice of the ‘pie’. It’s possible to have multiple ‘pies’, each holding up to 50 securities.

What’s more, with its ‘AutoInvest’ feature you can set up a custom deposit schedule to your ‘pies’, letting you invest automatically.

Additionally, Trading 212 offers fractional shares, granting you access to more expensive investment opportunities without having to pay the total cost of a full share. This means you can start investing with as little as £1.

As with all investments, remember your capital is at risk. Investments can fall as well as rise, which means you could get back less than you invested.

What is Trading 212?

Trading 212 is a fintech company aiming to “democratise the financial markets” by providing “free, smart and easy to use apps” which can enable anyone to start investing. It boasts 2.5 million lifetime funded accounts and holds £3.5 billion in client assets and cash.

Every new customer Trading 212 receives from Moneyfactscompare.co.uk will receive a free fractional share worth up to £100.

This information does not represent financial advice. When investing, your capital is at risk. Investments can rise and fall, and you may get back less than you invested. Past performance is no guarantee of future results. Free shares can be fractional. Terms and fees apply - https://www.trading212.com/terms/invest.

 

Trading 212 UK Ltd. is registered in England and Wales (Company number 8590005). Registered address: Aldermary House, 10-15 Queen Street, London, EC4N 1TX. Trading 212 UK Ltd. is authorised and regulated by the Financial Conduct Authority (Firm reference number 609146).

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.

Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.