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Home.forex news reportTrading 212 Starts Onboarding New Users in Germany Through Acquired FXFlat Bank

Trading 212 Starts Onboarding New Users in Germany Through Acquired FXFlat Bank

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FXFlat Bank, now under Trading 212, has begun offering
commission-free trading services in Germany. With local
regulation and full BaFin licensing, the company aims to offer a new approach
to zero-commission trading for those seeking access to global markets without
the usual fees.

Expanding Services in Germany

According to a LinkedIn announcement by Trading 212,
its expansion into Germany enables residents to access the benefits of
commission-free trading through its BaFin-licensed broker, FXFlat Bank GmbH.

“Big news for German residents! Starting today, we are
onboarding new clients in Germany through our BaFin-licensed broker, FXFlat
Bank GmbH, which Trading 212 acquired last year,” Trading 212 wrote. “Finally,
Germany gets a local broker offering truly zero-commission investing.”

Acquired by Trading 212 in 2024, FXFlat Bank now
offers access to shares and ETFs from major global exchanges, including Xetra,
NASDAQ, and NYSE, without any order execution, settlement, or account fees.

Expansion Through FXFlat Bank

According to the company, this marks a significant
move for the German market, where many investors have faced high costs
associated with traditional trading platforms. According to the announcement, the new change also comes with the added security of money protection of up to €100,000 under the EdB and €20,000 under the EdW.

For those already using Trading 212, the transition to
FXFlat Bank involves a process. Although a full account migration option is
reportedly in progress, customers must close their current Trading 212 accounts
and open new ones with FXFlat Bank.

However, some features, like the 212 debit card, are
not yet available to FXFlat Bank clients. Trading 212 has confirmed that
efforts are underway to introduce the card by spring 2025.

In June last year, Trading 212 obtained a crypto asset service provider license from the regulator in Cyprus. The license was reportedly acquired by a local entity named Trading 212 Crypto Ltd In May 2024. The newly formed firm is separate from Trading 212 Markets Ltd, which reportedly holds a Cyprus Investment Firm license.

This article was written by Jared Kirui at www.financemagnates.com.



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