Long time no see! I got this email which suprised me, and confused me! saying that “Trading 212 Limited will no longer offer its services to clients from the country Netherlands” and that the termination will happen on 15 November 2022…in 2 months time.
Does this have to do with EU and UK Brexit regulations, or am I missing something?
I added a screenshot of the email*
I don’t have exact infos, but it sounds like the transfer from the UK to the EU broker is approaching for older non-UK accounts.
But I too, registered pre-Brexit while being non-UK, and haven’t received this yet.
So not sure what’s up.
@RedSnow @Zergui as per the post, since when is November in 2 months?
Yeah the other one who got it on reddit also had this But minor detail tbh, if the agreement has a 2month notice obligation, there is no harm in sending it earlier when they are fully aware of the actual ending, and specifying that this is your formal 2month notice. So nothing weird here.
Once the 2 Months September and October have passed, November comes.
So if I understand this correctly, Trading212 is leaving/closing all trading accounts for everyone who lives in The Netherlands Thats really unfortunate, I’ll have to look at other brokers then.
Only 2-3 months left until mass account closing for dutch traders…
I think your account is registered to T212 limited. Trading 212 Ltd. is registered in Bulgaria. Presumably this entity T212 ends its activity.
I am in NL, haven’t heard a peep.
It could be the Bulgaria entity closing down, it could be the UK entity used by pre-Brexit European users; it could be their transfer to the new EU entity.
Lots of unknowns, and very little reports from this.
Only @Team212 could clarify. @David , @Bogi.H
I bet we’ll find out more shortly.
We continue to offer our services in all supported regions. The notice applies only to accounts registered under our Bulgarian entity - Trading 212 Limited. It is not relevant for clients registered under our Cypriot entity (Trading 212 Markets Ltd.) and our UK entity (Trading 212 UK Ltd).
You might have received the notice if you have an old account registered with Trading 212 Limited. If you are a Dutch resident, you can create a new account that will be registered under Trading 212 Markets Ltd.
Here you can find out under which entity your account is registered.
Amazing answer. Maybe this should get pinned, as I imagine lots of confusion will arise for the users impacted.
Will a share transfer service be in place for the impacted people to assist them in this change, or will they be forced to sell their whole portfolio under the Bulgaria entity, create a new account, and re-purchase everything?
This applies to accounts without any open positions. Also, those accounts are mainly inactive, not verified or not funded.
Thank you all for your replies. Looking at the explenations and seeing other people being confused too, it is clear that this does not apply to everyone. Not in the way it seems. Im glad that it wasnt what I feared.
Wish you all a nice day!