Hello, many of you seem to work with e.g. Interactive Broker, Saxo and so on.
Whats your opinion on Trading212?
Thank you!
Whats your opinion on Trading212?
Thank you!
Trading212 - Experiences, Opinions, secure?
- Thread starter bigbite100
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They are Cyprus based, that's already a good thing in my book. Would like to know if someone has opinions or reviews about them?
What do you base this on? CySEC is a huge pain to deal with. It's a very strict and surprisingly competent authority. Licensees fear them. A stark contrast compared to the zombies at the Central Bank of Cyprus for example.
That's why so many people go get CySEC licenses for show while 90%+ of their business get channeled to other jurisdictions instead.
I can't comment on Trading212 specifically. But if you are for sure only trading with their CySEC licensed entity, you should be a rather good hands. However, if you end up onboarded under an entity offshore , run.
That's why so many people go get CySEC licenses for show while 90%+ of their business get channeled to other jurisdictions instead.
I can't comment on Trading212 specifically. But if you are for sure only trading with their CySEC licensed entity, you should be a rather good hands. However, if you end up onboarded under an entity offshore , run.
It must have changed a lot. I went through this process with a business partner about six years ago. There was a significant amount of paperwork and documents that had to be obtained. However, we had skilled advisors assisting us, and the process took about six months to obtain a license. All in all, it was a good experience and not too bad.
I'm out of the business today, so I naturally don't know what has happened since then. A lot has probably changed.
I'm out of the business today, so I naturally don't know what has happened since then. A lot has probably changed.
Interesting to note that they offer card product (https://www.trading212.com/cards) that is directly compared to Revolut/Wise by them and seems to offer quite decent APYs for multiple currencies, as well as raw FX rates for card payments
Card is issued and payment services are provided by Bulgarian EMI, Paynetics (https://www.paynetics.digital/) though.
Would be interesting to see real reviews here, since this seems to be quite an interesting add-on product for their brokerage offering.
Card is issued and payment services are provided by Bulgarian EMI, Paynetics (https://www.paynetics.digital/) though.
Would be interesting to see real reviews here, since this seems to be quite an interesting add-on product for their brokerage offering.
I see no reason to trust any of these semi-legit brokers with your money/assets.
They claim you are insured up to 1M per customer but in reality the TOTAL insurance is 5M GBP:
You can read the full write-up here:
https://www.bankeronwheels.com/broker-safety-should-you-rely-on-broker-insurance/
They claim you are insured up to 1M per customer but in reality the TOTAL insurance is 5M GBP:
You can read the full write-up here:
https://www.bankeronwheels.com/broker-safety-should-you-rely-on-broker-insurance/
Lol.
You took the wrong screenshot from the article you are citing, it literally says 'from a peer broker'.
Below that, they do upload another image of a 20M insurance policy, which is meant to belong to Trading212 CY. However, I could not anywhere locate that document, and they state it was provided by a reader with apparent access to it (it seems like "source: trust me bro").
If you really review the CY entity's insurance evidence of cover, there are no limits to the maximum payout. It specifically states that an amount equal to the Net Loss of all Claimants will be paid out by Lloyd's. The CY entity is the one that advertises this deposit protection - the UK one advertises FSCS protection of 85K - which is also accurate.
I know it can be fun to spread FUD, but come on, what's the point of lying here?
You took the wrong screenshot from the article you are citing, it literally says 'from a peer broker'.
Below that, they do upload another image of a 20M insurance policy, which is meant to belong to Trading212 CY. However, I could not anywhere locate that document, and they state it was provided by a reader with apparent access to it (it seems like "source: trust me bro").
If you really review the CY entity's insurance evidence of cover, there are no limits to the maximum payout. It specifically states that an amount equal to the Net Loss of all Claimants will be paid out by Lloyd's. The CY entity is the one that advertises this deposit protection - the UK one advertises FSCS protection of 85K - which is also accurate.
I know it can be fun to spread FUD, but come on, what's the point of lying here?
If they were legit they would publish the entire insurance policy and not the "evidence of cover" .
I don't see why that site would post a fake insurance policy, and if it was fake Trading212 would send them a cease and desist by now
Clearly we found the forum member who has too much of his life savings in Trading 212 and is trying to convince himself it's a legit broker ...
But hey if you believe it by all means put all your net worth in some broker and let's find out together what happens...
I don't see why that site would post a fake insurance policy, and if it was fake Trading212 would send them a cease and desist by now
Clearly we found the forum member who has too much of his life savings in Trading 212 and is trying to convince himself it's a legit broker ...
But hey if you believe it by all means put all your net worth in some broker and let's find out together what happens...
Why?
The site did not publish the full insurance policy either, they also published an evidence of cover, you can literally compare the text on both, but the original on the site shows that the amount is not limited
Of course, lol. What a great argument
I don't do that, but T212 is a useful broker, not for insane amounts, but for convenient access with a very nice design and tracking functionality. Btw, most of the assets are under IB custody anyway 🙂 and I don't think you are hating on them in the same manner.
The site did not publish the full insurance policy either, they also published an evidence of cover, you can literally compare the text on both, but the original on the site shows that the amount is not limited
Of course, lol. What a great argument
I don't do that, but T212 is a useful broker, not for insane amounts, but for convenient access with a very nice design and tracking functionality. Btw, most of the assets are under IB custody anyway 🙂 and I don't think you are hating on them in the same manner.
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