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HomeTipsUK's Second Largest Dealer, Trading 212, Eyes Automated Investing, European Dominance

UK’s Second Largest Dealer, Trading 212, Eyes Automated Investing, European Dominance


Benzinga will likely be holding its annual Benzinga Global Fintech Awards, a day of dealmaking, networking, and recognition within the monetary know-how house, on Nov. 10, 2020.

In recognition of these disruptive innovators creating constructive and various change throughout the monetary providers house, Benzinga chatted with Ivan Ashminov, co-founder at Trading 212.

Lockdowns Fuel Massive Growth

Alongside the COVID-19 coronavirus pandemic lockdowns, buyers world wide flocked in direction of extremely partaking actions, akin to day buying and selling.

In mild of the spectacular rise in retail buying and selling volumes, Trading 212, a commission-free dealer, noticed its variety of accounts funded rise to 600,000 in 2020.

“Over the last few months we hit a few major milestones,” Ashminov stated. “We had probably 400,000 account openings this year, which makes us the second biggest broker in the U.K. in terms of number of retail accounts, and we’ve also surpassed 1 billion in client assets under management.”

The firm’s core product portfolio consists of no-fee fractional investing in over 3,000 world shares, ETFs, international trade, and derivatives merchandise, in addition to instructional movies, group boards, and evaluation instruments.

Consumer-Focused Innovation

In a Benzinga interview earlier this 12 months, Ashminov emphasised a concentrate on customer-focused innovation.

“We are very much driven by the suggestions and feedback by our community,” he stated. “We did a lot in terms of improving our systems capability and we are handling the loads well in terms of user experience and features.”

The firm lately honed in on automated and sustainable investing with AutoInvest and Pie.

The instruments, although launched below beta, allow folks to begin constructing their portfolios, which Trading 212 calls Pies, through a simple to make use of automated investing and rebalancing know-how.

“I think automated investing is a big part of our future since it gives us a great opportunity to innovate and cut costs for the clients,” he famous. “Even though day trading is the hot topic at the moment, it will go away, just like any such cycle where suddenly everybody wants to day trade and speculate.”

Ashminov famous that the product is completely free and caters to the brand new technology of buyers that demand simplicity and low value.

“A new generation is coming and they have high expectations for user experience. They don’t want excess fees and commissions. They want a slick interface and no small prints in their contracts,” he stated. “They’re very much self-directed and we’re catering for that.”

European Growth Accelerates

“In terms of growth, we really want to see the same level of growth we are experiencing in the U.K.”

Trading 212 goals to develop into probably the most respected and dependable buying and selling platform throughout Europe. In line with this aim, the corporate is in pursuit of funding banking licenses, serving to encourage additional confidence amongst buyers.

“The next phase is to innovate with new tools and to democratize not just trading and investing, but wealth management in general.”

To study extra about Trading 212, click on right here.

© 2022 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.


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