UK’s second largest broker, Trading 212, Eyes Automated Investing, European Dominance
Benzinga will hold its annual Benzinga Global Fintech Awards, a day of fintech negotiation, networking and recognition, on November 10, 2020.
In recognition of these disruptive innovators creating positive and diverse change in the financial services space, Benzinga spoke with Ivan Ashminov, co-founder of Business 212.
Blockages fuel massive growth
Along with the lockdowns of the COVID-19 coronavirus pandemic, investors around the world have turned to very engaging activities, such as day trading.
In light of the impressive increase in retail transaction volumes, Trading 212, a commission-free brokerage, saw its number of funded accounts grow to 600,000 in 2020.
âOver the past few months, we have taken some important steps,â Ashminov said. “We have had probably 400,000 account openings this year, making us the UK’s second-largest brokerage in terms of number of retail accounts, and we have also passed 1 billion client assets under management.”
The company’s commodity portfolio consists of no-charge fractional investments in more than 3,000 global stocks, ETFs, currencies and derivatives, as well as educational videos, community forums and analytical tools.
In an interview with Benzinga earlier this year, Ashminov emphasized customer-centric innovation.
The company recently looked at automated and sustainable investing with AutoInvest and Pie.
The tools, while released in beta, allow people to start building their portfolios, which Trading 212 calls Pies, through easy-to-use automated investing and rebalancing technology.
âI think automated investing is a big part of our future because it gives us a great opportunity to innovate and lower costs for customers,â he noted. “Even though day trading is the hot topic right now, it will go away, like any cycle like this where everyone suddenly wants to trade and speculate.”
Ashminov noted that the product is absolutely free and is aimed at the new generation of investors who demand simplicity and low cost.
âA new generation is coming and they have high expectations when it comes to user experience. They don’t want excessive fees and commissions. They want a sleek interface and no fine print in their contracts, âhe said. âThey are very autonomous and we take care of them. “
European growth is accelerating
“In terms of growth, we really want to see the same level of growth that we are seeing in the UK”
Trading 212 aims to become the most reputable and reliable trading platform in Europe. In line with this goal, the company is seeking investment banking licenses, thereby helping to instill more confidence among investors.
“The next phase is to innovate with new tools and democratize not only trade and investment, but wealth management in general.”
To learn more about Trading 212, click here.
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