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If you’re a trader in the UK, then there are higher possibilities that you will be using Trading 212 to store your investments and stocks.
However, earlier when Trading 212 had stopped the creation of new accounts, not only the ones who wanted to invest but the existing account holders also made several kinds of speculation.
There are several possible reasons for Trading 212 to stop accepting new accounts. The probable causes included that the platform couldn’t handle a large volume of accounts; another reason was Brexit.
But what is Brexit?
The British’s exit from the European Union is termed as Brexit. Brexit has primarily impacted the Crypto world.
So, these probable reasons have refrained Trading 212 to accept new accounts.
Why did Trading 212 Stop Functioning?
Many of you must have invested or stored your assets in Trading 212. However, when it stopped accepting new accounts, another reason that prompted it was the lack of transparency. The Fintech company lacked the required transparency.
Moreover, eToro and Immediate Profit App are the public platforms where everything is possible; Trading 212 is a private platform where most things aren’t shown.
Certain transparency is required, and the company admitted that there’s a lack of transparency that’s causing the issue.
So, several speculations started being made. The existing account holders started withdrawing their money due to fear of being on a safer side.
But, there’s no need to worry. All your investments are safe, and you can invest in Trading 212.
Guess what!? Trading 212 is back, and you could create an account very soon. Most probably this month (January 2022), you will be able to create a Trading 212 account. If that does not happen, then it might be as for the UK residents, it was said to start earlier.
Suppose you had tried creating an account earlier than you will already be included in their waiting list. If not, still no worries, you can try registering.
If you’re successful, then we’ll be good. Otherwise, you will be added to their waiting list. You will then be notified when your account will be created.
Another probable reason also came up was that the company lacked funds. The company’s significant earnings came from CFDs, and due to the lack of CFDs, the platform faced an issue.
However, it might also happen that it monetizes CFDs in the future or increases the fees by a certain amount; for it to function well.
Whatever the reason is, the thing is, when you save your assets and invest on the Trading 212 platform, then no matter whether you can support it or not, your capitals are safe on the app.
All your money will be stored on equity with the platform. So, whether it accepts new account holders or not, your funds won’t go in vain.
It is again impressive that amidst decreasing GDP and the third wave of the pandemic; it has monetized its platform well. Moreover, it is also set to expand your business in such a crisis.
In the future, if it monetizes the commission, then you still need not worry as it charges the minimum costs on investment and trading.
What makes Trading 212 Special?
As mentioned earlier, Trading 212 is a Fintech company that makes trading more manageable for you by its simple-to-use, accessible, and comprehensively functioning app.
It lets you trade with anyone, invest anyhow, and ensure the security and reliability of your assets.
With its trust, and functionality it has been serving about 1.5 million clients, has 3 billion pounds in its client assets, and implements 1.5 million orders regularly.
Trading 212 stands remarkable as it is an online brokerage platform that charges zero commission fees for you to trade. Moreover, it is FCA-approved, so you do not have to worry about whether it is a legitimate platform or not.
It has managed to be the #1 Trading App of the UK and has the #1 Spot in Germany since 2016, which is a considerable achievement.
Except for the last 12 months, which have been troublesome for the company and its clients.
It lets you trade long and short with Leverage trading. You can even personalize your business goals as per your prerequisites. Moreover, it enables you to exchange at no commission with ETFs.
The app has practical Biometrics to secure your account and funds. You can trade in your own trading style at your convenience as it provides 24/7 customer support.
You can expect an average response time of approx 30 seconds from the company.
Crypto is a volatile asset, so you must check its terms and conditions before investing. The platform lets you withdraw at no fee. Trading 212 charges currency conversion charges as less as 0.15%.
So, if you want to invest at the lowest prices possible for the most intelligent investment, then you can rely on the platform.
Pros and Cons of Using Trading 212:
The following are the pros and cons of Trading with Trading 212:
- Pros: The trading 212 platform shows you real-time data. You can get started and create your account easily within one day during the app’s regular functioning routine. It is a global platform with low trading class fees.
Moreover, it charges you no inactivity fees. There are no limits to withdrawal or anything like a minimum withdrawal amount.
Further, it charges no deposit fees. Whether you want to deposit funds via Credit Card, or Debit Card, or an Electronic Wallet, you are free to do so. It supports eight base currencies.
Like eToro, it also provides you with the feature of a Demo Account, making it one of the best platforms available.
- Cons: Trading 212 costs higher Forex fees and has many restrictions on its product portfolio. Another drawback for US residents and not the UK is that USD currency is not available on the platform.
Conclusion:
Trading 212 will soon begin functioning in the UK. You can expect to accept new accounts anytime soon. It doesn’t matter if you are already an ISA account holder. You can still create a new account for investing, trading, and stocking in the UK.