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is it possible to have more than one trading account

I made one with free trade but don't really like it, can io make another one with trading 212 when it opens up again ? is it legal ?
Reply 1
You can open a new account on a different platform, that's just changing the trading service you use which is perfectly fine. You don't even need to close your old account if you don't want to because they're different trading sites/apps. However you can't make two accounts that are both on the same app.
Original post by seiros
You can open a new account on a different platform, that's just changing the trading service you use which is perfectly fine. You don't even need to close your old account if you don't want to because they're different trading sites/apps. However you can't make two accounts that are both on the same app.

oh alright thank you :smile: also one more thing would there ever be a case where the trading app effects my credit score. Also would my bank shut my account if I move my money around ?
Original post by the redmandeer
oh alright thank you :smile: also one more thing would there ever be a case where the trading app effects my credit score. Also would my bank shut my account if I move my money around ?

Well, no?

It's sounding a bit like you're planning something dodgy though, why would the bank close your account for using it? :confused:
Reply 4
Original post by the redmandeer
oh alright thank you :smile: also one more thing would there ever be a case where the trading app effects my credit score. Also would my bank shut my account if I move my money around ?

That is something you should ask your bank about. Different banks have their own rules.
Original post by StriderHort
Well, no?

It's sounding a bit like you're planning something dodgy though, why would the bank close your account for using it? :confused:

im just scared because normally I don't spend too much lol. after the GameStop shenanigans I kinda got hooked and started on an investment. Then my friend told me trading 212 has tax free unto 12k and now I want to my money there so thats why im scared.
Original post by the redmandeer
im just scared because normally I don't spend too much lol. after the GameStop shenanigans I kinda got hooked and started on an investment. Then my friend told me trading 212 has tax free unto 12k and now I want to my money there so thats why im scared.

It's possible your bank may contact you just to confirm what the transactions are, but 'I'm moving from one trading account to another' is a perfectly reasonable answer, if one account offered better terms than another why wouldn't you move? They might try and upsell you on their own services. (Personally I prefer trading through my bank, even with fees)

A word of warning though, be careful getting pulled in by one off or 'gimmick trades, because some have a habit of then thinking they're a natural, they have a gift ect. These apps have a LOT in common with online gambling and aim for a lot your same buttons.
Original post by StriderHort
It's possible your bank may contact you just to confirm what the transactions are, but 'I'm moving from one trading account to another' is a perfectly reasonable answer, if one account offered better terms than another why wouldn't you move? They might try and upsell you on their own services. (Personally I prefer trading through my bank, even with fees)

A word of warning though, be careful getting pulled in by one off or 'gimmick trades, because some have a habit of then thinking they're a natural, they have a gift ect. These apps have a LOT in common with online gambling and aim for a lot your same buttons.

Thank you !!! yh is see that but im only interested rn in one company called NIO and it would be better for me to invest into it via trading 212 becaus it has no commissions from uptown 12 grand.

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