Response to a video about Trading 212

Agree with this but I think we have gone off topic.

This thread started from a you tube video from someone who gets paid for ads, clicks and referral bonuses.

At the end of the day all that matters for us, as with any broker or financial institution is that our assets are protected within the regulations and in that they are.

We need to close this thread. If we are not happy with the regulatory governance then that is another matter.

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I would appreciate an update on this please. I know on 3rd November T212 posted the update essentially saying ‘everything is fine’, but that was worryingly light on detail.

It is now nearly 40 days later, the accounts still haven’t been filed and there has been no update that I’m aware of.

Can someone from T212 please explain:

1: Why this delay has happened
&
2: When the accounts will be filed?

As I’m from Eastern Europe(3rd world country cough… Romania) can you please explain in simple words what are these “accounts”? Are they like quarterly or annualy company financial results?

@Rygel - Yes these are the annual company accounts, which by law must be filed within 9 months of the end of THEIR financial year (not the same for all companies).

Trading 212 Group Ltd accounting year runs January to December… so they should have filed by end of September 2021. As such they are nearly 3 months late in filing. For ANY company this means they will have to pay a fine… and for any financial institution they also risk a FCA (regulator) investigation with further penalties/restrictions imposed.

What is concerning is T212 do not communicate well, so people “assume” the worst. They have not explained why the delay in filing, or when the accounts will be filed, or for that matter why they had to not accept new accounts. (servers - really?)

So the last audited accounts T212 Group Ltd were December 2019, and these did NOT look good from an OPERATING (profits) perspective

Turnover down 47%
Operating profit down 71%
Retained profit down 69% (from £16m ro £9m)

… However they were not loss-making at that time, just a massive reduction.

They have a good balance sheet and were/are cash-rich, had cut some liabilities, cut dividends, and had an injection of shareholder funds to prop up the balance sheet and so in the end they are very liquid with £29m in the bank and £33m net worth.

So they did do all the right things to manage the situation. What has happened since (nearly 2 years now), we just don’t know. This is all publicly available information if you pay for it.

With £29m in the bank, it does beg the question why they needed to attract a £19m investment this year (as mentioned by Tony V @ T212) - unless those cash funds had fallen below FCA guidelines for liquidity.

They were also closed to all new accounts for a lengthy period (perhaps for same reasons - upgrading servers does not take this long!).

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This was mostly attributable to switching from being mainly a CFD provider (casino operator) to being a free broker (loss making activity).

During the last year their brokerage activity became profitable though.

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Since July/August 2021, that T212 is onboarding new investors:

Noteworthy is that a new T212 EU entity and the migration of existing EU investors to the new T212 EU entity demand the separation/segregation of assets from the existing T212 UK entity to the new T212 EU entity.

Sometimes people forget that T212 have both UK and EU investors and that Brexit have happen.

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Despite everything that was already said i don’t think that someone in charge couldn’t lose 2 minutes and give us a simple response

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why is this thread still open lol

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Am guessing because there’s been no violation of the forum rules so far has been very civil and constructive i think

It’s very circular in nature though, which is the sign of a bad thread.

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Is it possible for a company to ask for a delay? If the answer is yes, can we check somewhere if T212 asked for this?

I think we should stop investing here until we get an update. T212 lost a lot of trust in me because of her silence.

It’s a shame that we customers aren’t even worth a quick update …

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You do what you want to do. Trying to influence others into joining a scheme isn’t going to get you anywhere.

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I love 212 and we are protected etc etc, I get it. But as a place where a considerable amount of our money is, I don’t think it’s unreasonable to want some form of explanation or update.

But equally guys and gals, be measured in what you write and the way you express it

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If T212 puts out a statement then i believe the circular movement will stop or be minimised.

it’s merely a human nature even in kids if you don’t respond to a reasonable question, they will keep asking and also creates a breeding ground for all sorts of rumours and assumptions

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This is getting so overblown, almost everything is taking longer due to the pandemic.

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You sound like one of my subcontractors or suppliers mate :wink:

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Tell me about it, I’ve been waiting four months and counting to complete the sale of a property!

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I can completely empathise there. Me and my mrs have a bit of an investment flat that we are selling.

I’ve given the purchasers team until 4pm today otherwise I’m pulling, we started the sale transaction in July!

Good luck with it, very stressful time!

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Which area is your flat in? Hope you find some good buyers and that it does well for you!