Trading 212 UK Ltd
Financial Conduct Authority (FCA) · Reference 609146 1
Authorised Verified on register, 4 Oct 2026
Trading 212
Trading 212 is an investing and CFD app. UK clients deal with Trading 212 UK Ltd (FCA), EU clients with Trading 212 Markets Ltd (CySEC) or Trading 212 EU GmbH (BaFin), and Australian clients with Trading 212 AU Pty Ltd (ASIC). The group parent, Trading 212 Group Limited, is co-owned by Ivan Ashminov and Borislav Nedialkov.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
Verified licences
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Financial Conduct Authority (FCA) | 609146 | Trading 212 UK Ltd | Authorised Checked 4 Oct 2026 | Register entry for Trading 212 UK Ltd (opens in a new tab) 1 |
| Cyprus Securities and Exchange Commission (CySEC) | 398/21 | Trading 212 Markets Ltd | Authorised Checked 5 Oct 2026 | Register entry for Trading 212 Markets Ltd (opens in a new tab) 2 |
| Federal Financial Supervisory Authority (BaFin) (BaFin) | 10109603 | Trading 212 EU GmbH | Authorised Checked 5 Oct 2026 | Register entry for Trading 212 EU GmbH (opens in a new tab) 3 |
| Australian Securities and Investments Commission (ASIC) | AFSL 541122 | Trading 212 AU Pty Ltd | Authorised Checked 4 Oct 2026 | Register entry for Trading 212 AU Pty Ltd (opens in a new tab) 4 |
| Financial Supervision Commission (FSC) | RG-03-0237 | Trading 212 Ltd | Authorised Checked 5 Oct 2026 | Register entry for Trading 212 Ltd (opens in a new tab) 5 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
Assessment summary
Trading 212’s UK, Cyprus, German, Australian and Bulgarian companies are all on their regulators’ registers, and we found no enforcement actions or alert-list entries. Its UK company files full audited accounts showing client money held on statutory trust under the FCA’s rules, and ownership is clear: Ivan Ashminov and Borislav Nedialkov each hold more than a quarter of the group parent. Retail clients have negative balance protection and UK, Cyprus and German clients a compensation scheme. The FCA and the ombudsman publish its complaint figures, and the ombudsman upheld 14% of the 150 decisions it published on the UK company in three years. Its main website refused our automated requests, so the client agreements, fee schedules and execution policies are not determined; we relied on its help centre.
Key positives
- Client-facing entities appear on the regulator’s register 123456
We matched every company Trading 212 names on its regulator’s register: the UK company on the FCA’s list, the Cyprus company on CySEC’s register, the German company in BaFin’s database, the Australian company on ASIC’s licensee data and the Bulgarian company on the FSC’s list.
- Regulatory claims on the website are accurate 12346
The licences Trading 212 lists match the registers. We could not read the claims on its main website.
- Clients can tell which regulated entity serves them 67
Trading 212 names each company with its regulator, licence, registration number and address, and explains the protections that apply under each.
- Client money segregation is disclosed 710
The UK accounts say client money is held on statutory trust in segregated accounts under the FCA’s CASS rules, and Trading 212 says it holds client funds under each regulator’s rules and never uses them for hedging.
- Ultimate ownership can be identified 89
Companies House shows Trading 212 Group Limited owns the UK company and registers Ivan Ashminov and Borislav Nedialkov as each holding more than a quarter of the group.
Key concerns
- Banking and custody arrangements are disclosed 71016
Not met Trading 212 names its payment providers but not the partner banks that hold client money.
- Permissions cover the services offered 123
Partly met CySEC and BaFin list permissions that cover dealing in CFDs and securities and holding client assets. The FCA’s published list does not show the UK company’s permissions.
- An investor compensation scheme applies 71415
Partly met UK clients are covered by the FSCS (up to £85,000 for investments), Cyprus clients by the Investor Compensation Fund and German clients by the EdW (each up to EUR 20,000). No scheme is named for Australian clients.
- Independent dispute resolution is available 1921
Partly met UK clients can take complaints to the Financial Ombudsman Service, which has published 150 decisions on the UK company. We could not read the other companies’ disclosure notices.
- A complaints procedure is published 1920
Partly met Trading 212 explains how to complain and says each company’s procedure is in its disclosure notice, which is on the website we could not read. The FCA’s data show it closes about a quarter of UK complaints within three days.
Breakdown by dimension
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Regulatory status and licence verification 26% of score Whether the firm’s licences exist, are current and cover what it offers.
- Met
Client-facing entities appear on the regulator’s register 123456
We matched every company Trading 212 names on its regulator’s register: the UK company on the FCA’s list, the Cyprus company on CySEC’s register, the German company in BaFin’s database, the Australian company on ASIC’s licensee data and the Bulgarian company on the FSC’s list.
- Met
- Partly met
- Met
- Met
Criteria and their weighting are explained in the methodology.
Corporate transparency and ownership 13% of score Whether you can find out who owns and runs the firm.
- Met
- Met
- Partly met
- Partly met
- Met
Criteria and their weighting are explained in the methodology.
Client fund protections and disclosed safeguards 13% of score What protects client money if something goes wrong.
- Met
- Met
- Partly met
- Not met
- Partly met
Criteria and their weighting are explained in the methodology.
Enforcement and substantiated adverse findings 13% of score Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 0 points.
- Met
Warning lists and enforcement records have been searched 18
We searched FCA, CySEC, BaFin, ASIC and CVM records and the Indian and Malaysian alert lists, and ran web searches. We found no enforcement actions or alert-list entries.
No published findings were on record at the review date.
Criteria and their weighting are explained in the methodology.
Complaint handling and documented resolutions 8% of score How the firm handles complaints, and what independent records show.
- Partly met
- Partly met
- Met
Independent complaint outcomes show no adverse pattern 21
The ombudsman upheld 21 of the 150 decisions it published on Trading 212 UK Limited in three years (14%).
- Met
Complaint data is disclosed 20
The FCA and the ombudsman publish complaint figures for Trading 212 UK Limited: 2,204 complaints in the second half of 2025, of which the firm upheld 10.7%.
Criteria and their weighting are explained in the methodology.
Trading terms and operational transparency 8% of score Whether costs, execution and risks are disclosed before you sign up.
- Partly met
- Not determined
An order execution policy is published 11
We could not read Trading 212’s order execution policies.
- Not determined
- Partly met
- Met
Criteria and their weighting are explained in the methodology.
Public disclosures and communication 4% of score Whether public claims hold up and the firm communicates openly.
- Partly met
- Met
- Not determined
Material changes are communicated 11
We could not read Trading 212’s terms to see how it gives notice of changes.
Criteria and their weighting are explained in the methodology.
On-site office verification 5% of score What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
- Not met
Real office at the stated address, not a ghost address
- Not met
Office of the assessed entity
- Not met
Staffed and operating
Criteria and their weighting are explained in the methodology.
On-site assessment and platform testing 10% of score What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
- Not determined
Company identity
- Not determined
Regulatory claims
- Not determined
Office visit
- Not determined
Account opening
- Not determined
Platform usability
- Not determined
Costs and disclosures
- Not determined
Customer support
- Not determined
Deposits and withdrawals
- Not determined
Trading functions
- Not determined
Complaints process
Criteria and their weighting are explained in the methodology.
Regulation and legal entities
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Trading 212 Markets Ltd
Cyprus Securities and Exchange Commission (CySEC) · Reference 398/21 2
Authorised Verified on register, 5 Oct 2026
Trading 212 EU GmbH
Federal Financial Supervisory Authority (BaFin) (BaFin) · Reference 10109603 3
Investment firm: principal broking, brokerage, own-account dealing, portfolio management, custody
Authorised Verified on register, 5 Oct 2026
Trading 212 AU Pty Ltd
Australian Securities and Investments Commission (ASIC) · Reference AFSL 541122 4
Licence start date 17 August 2023.
Authorised Verified on register, 4 Oct 2026
Trading 212 Ltd
Financial Supervision Commission (FSC) · Reference RG-03-0237 5
Listed by the FSC among Bulgarian investment firms providing cross-border services; the licence number is Trading 212’s own.
Authorised Verified on register, 5 Oct 2026
Trading 212 Group Limited
No licence recorded for this entity.
Dated findings
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
No findings recorded
We have not recorded any warnings, enforcement actions, legal findings, allegations or complaint records for this firm. That means none are on our record; it does not mean none exist.
Company response
Firms can respond to their profile and to any finding. No response has been published for Trading 212. How firms can respond.
Assessment history
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 5 Oct 2026 | Trust score 86 out of 100 Strong | 1.2 | Current |
Corrections and updates
No corrections have been made to this profile.
Sources
- 1 Financial Services Register: investment firms list (CSV), data as at 3 October 2026 (opens in a new tab)
Shows Trading 212 UK Limited (FRN 609146), first authorised 1 October 2014, with status Authorised.
- 2 CySEC register: Trading 212 Markets Ltd (opens in a new tab)
Licence 398/21 granted on 1 March 2021, company registration 409763, address Agias Fylaxeos 1, Floor 2, Office 1, 3025 Limassol, approved domain www.trading212.com. Services: reception and transmission of orders, execution of orders and dealing on own account in transferable securities, units in collective investment undertakings and CFDs, with safekeeping and credit as ancillary services; it has also notified CySEC under article 60 of the EU crypto-asset regulation.
- 3 BaFin company database: Trading 212 EU GmbH (opens in a new tab)
Investment firm (Wertpapierinstitut) at Bahnstraße 47, 40878 Ratingen, BaFin ID 10109603, authorised for principal broking, investment brokerage and advice, contract brokerage, portfolio management, own-account dealing and trading, foreign exchange business (from 8 August 2025) and custody of financial instruments (from 9 December 2025).
- 4 Australian Financial Services Licensee dataset (October 2026) (opens in a new tab)
Lists AFSL 541122 held by Trading 212 AU Pty Ltd (ABN 46660342763), Sydney, from 17 August 2023.
- 5 Financial Supervision Commission: notification for TRADING 212 Ltd (opens in a new tab)
Lists TRADING 212 Ltd, 3 Lachezar Stanchev Str., floor 10, Litex Tower, Sofia, among Bulgarian investment firms notified to provide services in other member states under the freedom to provide services.
- 6 Trading 212 help centre: who regulates Trading 212? (opens in a new tab)
Names Trading 212 UK Ltd (FCA 609146), Trading 212 Markets Ltd (CySEC 398/21), Trading 212 AU Pty Ltd (ASIC AFSL 541122) and Trading 212 EU GmbH (BaFin). The page footer gives each company’s registration number and address, including Trading 212 UK Ltd (8590005, Aldermary House, 10-15 Queen Street, London) and Trading 212 Ltd (Bulgaria, 201659500, FSC licence RG-03-0237), and warns that 77% of retail investor accounts lose money trading CFDs with this provider.
- 7 Trading 212 help centre: how is my money protected? (opens in a new tab)
Says client funds and assets are held under the rules of the BaFin, the FCA, CySEC and ASIC, and client funds are never used for hedging or margin trading. UK cash is held with partner banks, protected by the FSCS up to £120,000 per bank as deposits and up to £85,000 as investments if Trading 212 fails; Trading 212 Markets clients are covered by the Investor Compensation Fund up to EUR 20,000; Trading 212 EU clients by the German EdW up to EUR 20,000 and up to EUR 100,000 per partner bank. Also says Trading 212 has been profitable every year since its founding 20 years ago and has no debt.
- 8 Companies House: Trading 212 UK Limited (08590005) (opens in a new tab)
Registered office 10-15 Queen Street, Aldermary House, London EC4N 1TX. Trading 212 Group Limited (10014283) holds 75% or more of the shares and votes. Directors include Gary Dixon, Mukid Hossain Chowdhury, George Mantilas, Jason Richard Hill, Malaeka Ali Kazmi, Peter David Spencer King, David Burns and Penelope Ruth Judd.
- 9 Companies House: Trading 212 Group Limited (10014283) (opens in a new tab)
Ivan Atanasov Ashminov and Borislav Tzonkov Nedialkov are each registered as holding more than 25% but not more than 50% of the shares and votes; both are directors. Group accounts to 31 December 2025 were filed on 2 October 2026.
- 10 Trading 212 UK Limited: annual report and audited financial statements for 2025 (opens in a new tab)
Filed on 21 April 2026 and read with text recognition. Revenue was £277.6 million and profit before tax £123.1 million. Client money is held on statutory trust in segregated client money accounts with authorised credit institutions under the FCA’s CASS rules, and client financial instruments under the CASS 6 custody rules. The immediate and ultimate parent is Trading 212 Group Limited, which prepares group accounts.
- 11 Trading 212 website (opens in a new tab)
www.trading212.com, including its legal documentation and terms pages, refused our automated requests on 5 October 2026 with an access-denied page, so we could not read the client agreements, disclosure notices, fee schedules or order execution policies. We used the help centre at helpcentre.trading212.com, which loads.
- 12 Trading 212 help centre: can I lose more money than my deposit? (opens in a new tab)
Retail clients cannot lose more than they deposited; positions are closed after a margin call, and the account is adjusted so it does not go below zero.
- 13 Trading 212 help centre: the Trading 212 AU CFD account (opens in a new tab)
Australian CFD leverage is capped by ASIC from 30:1 on major currency pairs to 2:1 on crypto CFDs, positions start closing when equity falls to 50% of required margin, and negative balance protection applies.
- 14 FSCS: investments (opens in a new tab)
For investment firms that failed after 1 April 2019, the FSCS pays up to £85,000 per eligible person, per firm. The £120,000 limit, from December 2025, is for deposits.
- 15 Investor Compensation Fund for IF clients: information (opens in a new tab)
Describes the Investor Compensation Fund for clients of Cyprus investment firms that are not credit institutions. Covered non-professional clients can claim the lower of 90% of their covered claims and EUR 20,000 if a member firm cannot meet its obligations.
- 16 Trading 212 help centre: which payment service providers does Trading 212 use? (opens in a new tab)
Names its payment providers, including Adyen, TrueLayer and Paynetics, and says card and similar deposits are free up to EUR 2,000 in total, with 0.7% charged above that.
- 17 Trading 212 help centre: how to withdraw funds (opens in a new tab)
Explains how to withdraw from the app and that withdrawals may take up to three business days.
- 18 Searches of FCA, CySEC, BaFin, ASIC and CVM records and the Indian and Malaysian alert lists for Trading 212 companies (opens in a new tab)
On 5 October 2026 we searched CySEC’s 1,173 board decisions, the FCA’s list, ASIC’s licensee data, the CVM’s declaratory acts, KNF’s lists and the Indian, Securities Commission Malaysia and Bank Negara Malaysia alert lists, and ran web searches for actions by the FCA, BaFin, the Bulgarian FSC and others. We found no enforcement actions or alert-list entries.
- 19 Trading 212 help centre: how do I submit a complaint? (opens in a new tab)
Explains how to submit a complaint and says each company’s complaints procedure is in its disclosure notice on the website.
- 20 FCA firm-level complaints data 2025 H2 and Financial Ombudsman business complaints data (July 2025 to March 2026) (opens in a new tab)
The FCA’s data show that Trading 212 UK Limited received 2,204 complaints in the second half of 2025 (1,691 about investments), closed 2,218 and upheld 10.7%. The ombudsman’s business data show it upheld 22.7% of the cases about the company that it resolved.
- 21 Ombudsman decisions: Trading 212 UK Limited, October 2023 to October 2026 (opens in a new tab)
Between 4 October 2023 and 4 October 2026 the ombudsman published 150 decisions about Trading 212 UK Limited and upheld 21 (14%).
- 22 Trading 212 help centre: how does Trading 212 make money? (opens in a new tab)
Revenue comes from a 0.15% currency conversion fee (0.4% for Trading 212 AU) and share lending on Invest and ISA accounts, and from overnight interest and spreads on CFDs.
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