https://www.trading212.com/invest
This site passed over my desk today. For FX and ‘interest’ it seems similar to Wise, but better - even better than Revolut.
For ‘interest’, as per wise it invests in qualifying money market fund(s) - offering 4.2% euro rate agains wise’s (advertised) 3.67.
For foreign exchange it claims its charging 0.15% on the immediate interbank spot rate - better than Revolut at approx 0.2% and obviously significantly beating wise - though I’m not sure its doing bank account operations like wise.
In terms of regulation again it seems like wise - not a bank but FCA regulated in UK. Some Bulgarian registration also. It seems it’s app only.
It almost sounds too good to be true and I’d like to canvas opinion - anyone heard of it or use it? As well as let people know about it.
I think it was @JohnH alerted me to wise interest?, wonder if he’s heard of this?
PS for those looking for UK savings (there’s been a few) it offers 5.2% sterling ‘interest’ and it seems can be opened in France.
) really mean to me vs risk? I take all the risk and the tax man takes half the gain.