Wise offer stock trading, would you use it?

[myshufflemix]

I just looked into my APP from wise and see they are offering Stock trading.

So far I think it is a new thing they offer, would you use it? if so, can it be compared with other trading platforms like Saxo Bank or is this more for the small guy on the floow?

 

[troubled soul]

UK fintech Wise beta tests index investing for select customers

UK fintech Wise beta tests index investing for select customers

The firm, which was formerly known as TransferWise, has currently implemented the feature as a beta function on its app.

finance.yahoo.com

Why not?
They are listed company WISE.L

 

[JohnLocke]

Was looking into it some weeks ago, will give it a try the next days.

 

[myshufflemix]

why are not more using this method of stock trading?

 

[troubled soul]

The company is initially launching Assets for personal and business customers in the U.K. but plans to roll out the product in Europe at a later date.

Because It does not available for all wise user

 

[kkein]

hell yea!! considering their -0.4% on funds, this is going to be awesome! Is it available only through app or also website?

 

[Martin Everson]

Does Wise thinks its a good idea to have their UK customers invest in a fund that is nearly 70% composed of US equities with less then 4% UK stocks in it?

Does not sound very wise to me. It would be a clear no from me if I lived in UK. I would stay in cash rather than risk equities especially overvalued US equities.

 

[MarkT]

"During the beta trial, there will be a fund fee of 0.15% annually. After beta, customers will also pay a service fee of 0.55% per year."

This is really expensive. TER of IE00B4L5Y983 as an example is only 0.20% instead of 0.70%, factor of 3.5 more expensive. Pass.

 

[JohnnyDoe]

So now they can also freeze your investments, not just your cash! That’s a wise move!

 

[myshufflemix]

US stocks only, bad idea I see..

So now they can also freeze your investments, not just your cash! That’s a wise move!

very good point.. think we will have to wait some years to see how they will develop into something reliable hopefully.