Trading 212, a fintech firm offering cash equities and contracts for differences (CFDs), acquired FXFlat Bank GmbH in an expansion into the German market, the latter announced. This acquisition aims to provide German investors with access to Trading 212's zero-commission investing platform, an offering promising to disrupt traditional brokerage models in the UK and Europe.

Trading 212’s Expansion

The acquisition of FXFlat Bank GmbH represents a leap for Trading 212. Known for zero-commission investing, Trading 212 has built a reputation across the UK and Europe. The latest acquisition allows the company to operate within Germany through a fully licensed German entity.

The companies are reportedly working to integrate Trading 212’s trading and investing platform into the German market soon. While FXFlat will temporarily pause onboarding new clients during this transition, existing clients will continue to receive full support.

“We are thrilled to announce that FXFlat Bank GmbH has been acquired by Trading 212 Group Limited (‘Trading 212’), one of the fastest-growing fintech companies in the UK and Europe and a pioneer in zero-commission investing,” FXFlat Bank mentioned on its website.

“This acquisition marks an exciting new chapter, as it allows us to bring Trading 212's exceptional value and user experience to German investors through a fully licensed German entity,” the firm further added.

This year, Trading 212 obtained a crypto asset service provider (CASP) license from the Cyprus Securities and Exchange Commission. The regulator granted approval to the firm’s local entity, Trading 212 Crypto Ltd, in May. This entity is separate from Trading 212 Markets Ltd. The mandate enables Trading 212 to provide exchange services between digital assets and fiat currencies, as well as crypto custodial services.

Expanding Business Globally

Besides that, Trading 212 expanded its business with a multi-currency payment card for users in the UK. The company partnered with Paynetics, an e-money services provider, to offer a payment card with a cashback of 1.5% until the end of September and then reduce it to 0.5%

The London-based brokerage firm also announced plans to introduce card services in the UK. Branded 212 Card, this offering promised an interest rate of 5% APY daily and a cashback offer of 0.5% up to £20 monthly.

Trading 212's cards also enables global transactions, reportedly with a foreign exchange fee of 0.15% and no fees charged on weekends. This approach to currency exchange enables users to manage international transactions. Trading 212 was founded in Bulgaria in 2004 as Avus Capital but was later incorporated in the UK in 2013.