I’ve just received an email: “Important Brexit Update”. It seems trading212 will no longer be authorized in the EU. Any idea what this really means and if t212 is planning to get an EU license?
How do you mean not authorized? We can still use it as Europeans atleast that’s what I got from the email.
Where does it say it is no longer authorized in the EU? Not sure where you got that from
Could you put a print screen of your email? I didn’t receive any T212 email.
@themihai Can you elaborate? I think you’re misinterpreting a line from whole the email.
As of the rest - all information is present below:
You are using Trading 212 UK at your own initiative.
You are aware that Trading 212 UK is authorised in the UK, which is no longer part of the EU.
This looks like saying (between the lines): “you are using trading212 at your own risk”. I assume that if anything goes wrong you have no kind of protection for your funds.
Does anyone knows what(if any) are the implications dealing with a broker not authz in your jurisdiction(i.e EU)? i.e tax wise
It requires reading with understanding…
Not taking sentence out of context.
Pretty much business as usual after brexit for EU investors.
I don’t see anything “weird”. It’s business as usual for us, investors.
If the EU investors want to continue investing in T212, just have confirm that. No problem with that.
Why they would not want to continue if it’s business as usual? I mean why do we even receive this notification?
Because they have are obligated to notify their customers of these kind of changes.
Yes it is common sense and represents not much of a change, as stated in the email, all of the UK regulations still protect us - but they still have a duty to inform customers.
T212 as other UK companies have to legally inform EU clients.
It’s like usual Google emails about new features or the privacy policies emails when the EU General Data Protection Regulation (EU GDPR) kick in. We have to confirm.
Well no, the whole flow has nothing to do with those interpretations.
All this is a standard procedure, informing clients their trading experience won’t be affected, and:
- your account will be under the same terms and conditions;
- same asset protection (FSCS) will apply;
- all conditions remain unchanged.
Plus, all of the comments above suggested by the rest of the community. In other words - there’s no room for worries at all.
True nothing weird about it, not sure what the original poster was saying about it being unauthorized.
- You are aware that Trading 212 UK is authorised in the UK, which is no longer part of the EU.
Rephrased: you are aware that Trading 212 UK is authz in the UK but no longer in the EU.
I was also in doubt, but after some search I landed here
FSCS does not have any residency requirements for making an investment claim as long as the firm is UK based and authorized.
So I guess we’re good to go
Thank you Tony.
Can you tell what’s the maximum amount which is protected?
Is it up to 90.000 euros?
@Tony.V what about new EU clients, how will you be onboarding them? I mean you’ll not be allowed to directly market to EU clients with the UK entity.
So will you use the BG entity and move them to UK entity or what? Please explain.
Also, wouldn’t it be easier to open a Western Europe T212 entity, say Germany?
@Tony.V after the 1st of January what will be the relationship between Trading 212 UK Ltd. and Trading 212 Ltd.?
Trading 212 UK Ltd. is registered in England and Wales (Register number 8590005), with a registered address 107 Cheapside, London EC2V 6DN. Trading 212 UK Ltd. is authorised and regulated by the Financial Conduct Authority (Register number 609146).
Trading 212 Ltd. is registered in Bulgaria (Register number 201659500). Trading 212 Ltd. is authorised and regulated by the Financial Supervision Commission (Register number RG-03-0237).