Hello,
If we own stocks we buy through the Invest platform, why we don’t get them back in case of T212 bankrupcy ?
As per my understanding, we get their dollar value back by the FCA.
Thank you.
Shares on T212 are held in an omnibus account with Interactive Brokers LLC. If Trading 212 were to go out of business there would still be a record of your beneficial ownership of shares. The entity taking responsibly for winding up the Trading 212 business would be able to allocate you the value of the shares in which you have beneficial ownership, less their administration fee. Or maybe the administrator would arrange the option of a new account for you with Interactive Brokers, or a transfer out to another broker.
That’s my question : why would I get the value of my shares instead of the shares themselves ?
This subject has been discussed a number of times on various sections on the forum, and formal answers were provided by T212 staff. The “search” feature will display all relevant posts.
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