Trading 212 audit report 2026: AAA

Summary

Trading 212 serves its clients through companies licensed in the UK, Cyprus, Germany and Australia, with further licensed companies in Bulgaria and Ireland and no offshore entity; clients in countries such as the UAE, Mexico and Thailand are onboarded by its FCA-authorised UK company. The group is privately held by its two founders and files PwC-audited group accounts in the UK. No public enforcement action against it was found.

Grade: AAA
Score: 81/100
Fieldwork: 10 Oct 2026 to 10 Oct 2026
Findings: 8 strength

Scorecard

Pillar	Weight	Score	Grade
Regulation & Licensing	19%	88	AAA
Corporate Structure & Ownership	14%	80	AAA
Client Money & Payouts	19%	84	AAA
Execution & Pricing	n/a	Not assessed: requires live testing
Conduct & Disclosure	14%	88	AAA
Operational Resilience	n/a	Not assessed: requires live testing
People & Community	5%	30	B
Overall	71%	81	AAA

The overall score is the weighted average of the assessed pillars, with their weights scaled back up to 100.

This grade summarises the evidence we reviewed up to 10 October 2026. It is not a guarantee of the firm's safety or future conduct, and changes after that date are not reflected. Nothing here is financial or legal advice.

Findings

Regulation & Licensing

88/100

The FCA, CySEC, BaFin and ASIC licences were confirmed on the regulators’ own registers or licensee data. Trading 212 assigns each new client to one of these four companies by country of residence, and clients in countries such as the UAE, Mexico and Thailand are onboarded by the UK company. No offshore entity was found.

StrengthTrading 212 UK Ltd. has been authorised by the FCA since 1 October 2014 (FRN 609146) and may hold client money. Trading 212 Markets Ltd holds CySEC licence 398/21, issued 1 March 2021, with trading212.com as its approved domain.
StrengthBaFin lists Trading 212 EU GmbH, formerly FXFlat Bank GmbH, as a German investment firm, and Trading 212 AU Pty Ltd has held AFSL 541122 since 17 August 2023.
StrengthTrading 212’s help centre states that new accounts are opened with the UK, Cyprus, German or Australian company according to the client’s country of residence, and lists 26 countries and territories besides the UK, including the UAE, Mexico and Thailand, whose residents are served by the FCA-authorised UK company.
ObservationThe group also holds investment firm licences in Bulgaria (Trading 212 EOOD, licence RG-03-0237, as stated by the firm) and Ireland (Trading 212 Markets (Ireland) Limited, licensed by the Central Bank of Ireland on 1 December 2025, which has run the group’s CFD hedging since May 2026). BaFin lists both as EU firms providing cross-border services; their home registers were not queried.

Corporate Structure & Ownership

80/100

The group is privately held. Trading 212 Group Limited files consolidated accounts at Companies House, audited by PricewaterhouseCoopers for 2025, and its two founders are recorded as persons with significant control.

StrengthTrading 212 Group Limited’s accounts for 2025, filed on 2 October 2026 with a true and fair opinion from PricewaterhouseCoopers LLP, list its six principal subsidiaries and their regulators and report a profit after tax of £93.9 million (2024: £43.8 million).
StrengthCompanies House records Ivan Ashminov and Borislav Nedialkov as each holding more than 25% but not more than 50% of Trading 212 Group Limited, which owns 75% or more of Trading 212 UK Ltd.

Client Money & Payouts

84/100

Clients of the UK, Cyprus and German companies are covered by the FSCS, CySEC’s Investor Compensation Fund and Germany’s EdW respectively. The group’s audited accounts state that each company holds client money in segregated accounts and client assets with third-party custodians. No compensation scheme was identified for the Australian company.

StrengthThe 2025 group accounts state that each group company holds client money in segregated client bank accounts under its regulator’s rules, on statutory trust in the UK, so that it is protected if that company fails, and that client financial instruments are held separately with third-party custodians.
StrengthTrading 212 states that UK clients may claim up to £85,000 from the FSCS if the firm fails, that clients of Trading 212 Markets Ltd are covered by the Investor Compensation Fund up to EUR 20,000, and that clients of Trading 212 EU GmbH are covered by the EdW up to EUR 20,000.
ObservationNo compensation scheme applies to clients of Trading 212 AU Pty Ltd. No regulator finding on client money was found.

Execution & Pricing

Not assessed

Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.

Conduct & Disclosure

88/100

No public enforcement action against a Trading 212 company was found.

StrengthSearches of CySEC’s board decisions, the FCA register, ASIC’s media releases, the Ontario Capital Markets Tribunal and Brazil’s CVM sanctions cases found no action against a Trading 212 company, and the 2025 group accounts disclose no regulatory fine or redress.
ObservationThe FCA lists four clones of Trading 212 UK Ltd., and the Bank of Russia lists websites using the Trading 212 name; these are not connected with the group.

Operational Resilience

Not assessed

Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.

People & Community

30/100

No Great Place to Work certification was found. The group’s 2025 annual report states that its companies make regular donations to local charities, without naming them or giving amounts.

ObservationNo Great Place to Work certification was found for Trading 212.
ObservationThe donations statement comes from the group’s own annual report; we found no independent reporting and no named initiatives.

Licences verified

Each licence was checked directly against the regulator's public register on the date shown.

Entity	Regulator	Licence	Checked	Result
Trading 212 UK Ltd.	FCA	FRN 609146	10 Oct 2026	ConfirmedAuthorised since 1 October 2014; can hold client money; the register lists four clones.
Trading 212 Markets Ltd	CySEC	398/21	10 Oct 2026	ConfirmedLicensed 1 March 2021; approved domain trading212.com.
Trading 212 EU GmbH	BaFin	BaFin ID 10109603	10 Oct 2026	ConfirmedListed as an investment firm (Wertpapierinstitut).
Trading 212 AU Pty Ltd	ASIC	AFSL 541122	10 Oct 2026	ConfirmedCurrent licensee in ASIC’s AFS licensee dataset; licence start 17 August 2023.

Notes and sources

Sources

Evidence and scope

Scope

Desk audit of the group’s client-facing entities, using public sources only: regulator registers and announcements, court and company filings, and the firm’s own published documents, as available on 10 October 2026. No accounts were opened, nothing was tested live, and the firm was not asked for evidence.

Limitations

Absence of a public enforcement record is not evidence of good conduct. The Bulgarian and Irish licences are taken from the firm’s disclosures and BaFin’s list of cross-border providers; the home registers and the Bulgarian regulator’s sanctions decisions were not searched directly. The 2025 group accounts were filed as a scanned document and were read by optical character recognition. The negative balance terms of the Australian company were not reviewed. The share of clients served by each company could not be measured from public sources.

Evidence reviewed

FCA, CySEC and BaFin register entries; ASIC AFS licensee dataset, October 2026
Companies House records and 2025 audited group accounts, Trading 212 Group Limited
CySEC board decisions, Ontario Capital Markets Tribunal, Brazil CVM sanctions data and ASIC media releases
Trading 212 website and help centre disclosures

Version history

10 Oct 2026 Report published.

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