EU registrations - OPEN

@Tony.V , for helping Trading 212 adding crypto ETNs/ETPs for EU residents and also not to make an off-topic in this thread, I did a separated and dedicated thread about the existing physically-backed crypto ETNs/ETPs in the below thread, including IBKR availability and tickers for them:

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Much appreciated - thanks! :pray:

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Hi Tony,
will you tell us here when the onboarding will re-start for the UK, or will you create a separate post?

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@Tony.V

The bank account/deposit details and bank will be changed for EU residents?

As the bank account used to deposit money in T212 is in an UK domiciled bank (Barclays Bank).

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Hi All,

Please what does all this mean for me as an EU resident currently using Trading 212 broker?
What will be the consequences and impact?

Does this relate only to new EU clients or all already active EU clients?

Thank you.

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Morning everyone :wave: ,

@MarcoL We’ll have a separate post as soon as we re-start.

@RLX Yes, bank details will differ, and info is listed in the account.

@Kalach The current post is related to the onboarding of new EU clients.

As of the first part of your inquiry - here you can see the answer :point_down:

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Can non EU residents open an acc?

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Not yet, however, we’ll inform you accordingly in case of updates.

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Thank you very much Tony. :pray:

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Where did you notice the insurance limit for all T212 EU custs is 20m eur?

Just see the post above the post you quote, it also have the link to source used:

And I put a print screen image from T212 FAQ/Help page (with link) in a post below the post you quoted:

Hi, the 20k euros is the same for all EU countries and it is to protect investors in case the brokers/intermediary fails. My understanding is that this has nothing to with money not invested (in a bank account on behalf of the investor)

We had recently a situation in Portugal where the regulator had to use this protection to investors. Sorry couldn’t find a version in English

https://www.cmvm.pt/pt/AreadoInvestidor/SistemaDeIndemnizacaoAosInvestidores/FAQSII/Pages/faq_acionamentoSII.aspx

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Yep. The T212 Cyprus broker will have the EU mandatory protection scheme, up to 20k EUR.

Plus T212 have made a insurance policy with 20m EUR protection (up 1m EUR/investor)

@Tony.V Having myself a few friends quite impatient to register, and i imagine that is the same for a few people around here ;

Could we have a rough estimate of how many EU accounts are waiting to register, and how many is Trading212 able to process every day?

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brokers are not a one and done. there is nothing wrong with signing up to another next-best broker while waiting for this one to start onboarding again and in the meantime if your friends are serious about growing their wealth they could be doing so. there is no point in giving T212 an ultimatum with a time restriction since they will open up as soon as is possible for them regardless. this delay hasn’t been easy on anyone involved. Us and T212 both.

I only invest long-term and T212 is great for that, but there are brokers out there far more suited to those who want to do short-term high frequency trading. always pick the best suited broker for your intentions. you can ask around the community as I am sure there are plenty of people who are on 3-5 different brokers and can give you good recommendations in the meantime.

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God, yes indeed!

@avmentzer I would advise patience if your friends registered recently. While an estimate of delays from T212 would be nice, they surely have a huge backlog of registration and account verifications to process ; and if your friends registered a long time ago, what’s the rush?

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totally agree. And I will say that if you’re an EU citizen, there are plenty of options.

IBKR just got rid of the 10eur /month min comission.
You are left with $0.35 per order comission for US stocks.
1.25eur per order for EU stocks.
1gbp per order for UK stocks.

Now none can complain about brokers availability.
I will stay with T212 because i like the mobile UI more and the Pie feature.

Happy investing!

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nice to hear the commission was cut for the monthly rate, but a flat fee per order means you will want to do less orders at much larger value to make it feel cheap.

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They way I see it, if T212 had the portfolio transfer capability, there would be no reason for opening an account in IBKR. Has a cleaner UI, the app updates very regularly and I could bet (without knowing) it has a more responsive support.
For a one monthly buy & hold investors it would make zero difference being in IBKR or T212.

I like the T212 app & web, IBKR is more for traders than investors.
I think it’s the most crucial feature to be implemented (for us), for a peace of mind.

It’s good to have choices though !

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