Financial and Business News

Trading 212 Offered Crypto Products in the UK Without FCA Approval: Report

Tuesday, 27/01/2026 | 05:00 GMT by Arnab Shome
  • The retail broker offered crypto ETNs to its UK customers but discontinued them after regulatory officials intervened, the Financial Times reported.
  • The firm reportedly applied for FCA authorisation only last week and did not receive it until Monday.
Trading 212 (shutterstock)

Trading 212, a disruptor in Europe’s retail brokerage sector, sold cryptocurrency-linked products in the United Kingdom without the proper authorisation from the Financial Conduct Authority (FCA), which requires separate approval for offering such “high-risk investment products.”

Offering Crypto Products without Permission

According to a Financial Times report, the retail brokerage platform allowed traders on its platform to purchase crypto exchange-traded notes (ETNs) from October 2025, right after the UK regulator overturned its blanket ban on such products, which was put in place in 2021.

ETNs track the value of the underlying asset, cryptocurrency in this case, but unlike popular exchange-traded funds (ETFs), investors in these products hold a debt note linked to the price of the asset rather than a stake in the fund itself.

Trading 212, however, applied for the necessary FCA approval to offer the crypto products last week, the report stated, following regulatory officials’ intervention. It received approval on Monday.

Notably, Trading 212 has held FCA authorisation since 2014, which allows the broker to offer financial products, including forex and contracts for difference (CFDs), but not crypto products.

A now-deleted post on Trading 212’s website mentioned a couple of weeks ago that it had “briefly paused” the offering of complex instruments, including crypto ETNs, to new customers in order to upgrade its “internal systems and onboarding flows,” the FT report highlighted.

The platform continued to advertise crypto ETNs, but during the order review stage, a message appeared stating that “we’re making improvements… we expect to be back online soon — thank you for your patience!”

The review prompt disappeared on Monday after the platform received the necessary approval.

Trading 212’s Crypto Bet

FinanceMagnates.com earlier reported that Trading 212 launched crypto trading under its Cypriot unit last October. The broker established a dedicated crypto entity in Cyprus in 2024 and also obtained a crypto asset service provider (CASP) licence from the regulator on the Mediterranean island.

As a group, Trading 212 ended 2024 with a net profit of £43.7 million on revenue of £194.1 million. Its UK operations remained its main revenue source, adding £150 million to the total figure, while the Cypriot business brought in £42.2 million despite doubling its figures within a year. Germany’s FXFlat, following its acquisition, added over £1 million.

In the UK, the broker is also moving away from CFDs towards stockbroking.

Despite the reported breach in the UK, it remains unclear whether the FCA will take any action against the retail brokerage.

Trading 212, a disruptor in Europe’s retail brokerage sector, sold cryptocurrency-linked products in the United Kingdom without the proper authorisation from the Financial Conduct Authority (FCA), which requires separate approval for offering such “high-risk investment products.”

Offering Crypto Products without Permission

According to a Financial Times report, the retail brokerage platform allowed traders on its platform to purchase crypto exchange-traded notes (ETNs) from October 2025, right after the UK regulator overturned its blanket ban on such products, which was put in place in 2021.

ETNs track the value of the underlying asset, cryptocurrency in this case, but unlike popular exchange-traded funds (ETFs), investors in these products hold a debt note linked to the price of the asset rather than a stake in the fund itself.

Trading 212, however, applied for the necessary FCA approval to offer the crypto products last week, the report stated, following regulatory officials’ intervention. It received approval on Monday.

Notably, Trading 212 has held FCA authorisation since 2014, which allows the broker to offer financial products, including forex and contracts for difference (CFDs), but not crypto products.

A now-deleted post on Trading 212’s website mentioned a couple of weeks ago that it had “briefly paused” the offering of complex instruments, including crypto ETNs, to new customers in order to upgrade its “internal systems and onboarding flows,” the FT report highlighted.

The platform continued to advertise crypto ETNs, but during the order review stage, a message appeared stating that “we’re making improvements… we expect to be back online soon — thank you for your patience!”

The review prompt disappeared on Monday after the platform received the necessary approval.

Trading 212’s Crypto Bet

FinanceMagnates.com earlier reported that Trading 212 launched crypto trading under its Cypriot unit last October. The broker established a dedicated crypto entity in Cyprus in 2024 and also obtained a crypto asset service provider (CASP) licence from the regulator on the Mediterranean island.

As a group, Trading 212 ended 2024 with a net profit of £43.7 million on revenue of £194.1 million. Its UK operations remained its main revenue source, adding £150 million to the total figure, while the Cypriot business brought in £42.2 million despite doubling its figures within a year. Germany’s FXFlat, following its acquisition, added over £1 million.

In the UK, the broker is also moving away from CFDs towards stockbroking.

Despite the reported breach in the UK, it remains unclear whether the FCA will take any action against the retail brokerage.

Topics
trading 212
The Financial Conduct Authority (FCA)
About the Author: Arnab Shome
Arnab Shome
  • 7262 Articles
  • 133 Followers
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.

More from the Author

Retail FX

Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25

Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25

In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide. We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand. We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error. We close with a practical question: how retail investors can actually use AI without falling into common traps.

In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide. We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand. We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error. We close with a practical question: how retail investors can actually use AI without falling into common traps.
More Videos

  • Executive Interview | Brendan Callan | CEO, TRADU | FMLS:25

    Executive Interview | Brendan Callan | CEO, TRADU | FMLS:25

    Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner. In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences. We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading. This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.

    Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner. In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences. We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading. This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.

  • Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse

    Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse

    Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025. 🔹In this wide-ranging discussion, Elina shares insights on: 🔹What winning a Finance Magnates award means for credibility and reputation 🔹How broker demand for stability and reliability is driving rapid growth 🔹The launch of a new trade server enabling flexible front-end integrations 🔹Why ultra-low latency must be proven with data, not buzzwords 🔹Common mistakes brokers make when scaling globally 🔹Educating the industry through a newly launched Dealers Academy 🔹Where AI fits into trading infrastructure and where it doesn’t Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market. 🏆 Award Highlight: Best Connectivity 2025 👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview

    Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025. 🔹In this wide-ranging discussion, Elina shares insights on: 🔹What winning a Finance Magnates award means for credibility and reputation 🔹How broker demand for stability and reliability is driving rapid growth 🔹The launch of a new trade server enabling flexible front-end integrations 🔹Why ultra-low latency must be proven with data, not buzzwords 🔹Common mistakes brokers make when scaling globally 🔹Educating the industry through a newly launched Dealers Academy 🔹Where AI fits into trading infrastructure and where it doesn’t Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market. 🏆 Award Highlight: Best Connectivity 2025 👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview

  • Blueberry Broker Review 2026: Regulation, Platforms, Fees & Trading Conditions | Finance Magnates

    Blueberry Broker Review 2026: Regulation, Platforms, Fees & Trading Conditions | Finance Magnates

    In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights

    In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights

  • Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy

    Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy

    Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how. Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss: - Exness’s marketing approach in South Africa - What makes their trading product stand out - Customer retention vs. acquisition strategies - The role of local influencers - Managing growth across emerging markets 👉 Watch the full interview for fundamental insights into the future of trading in Africa. #Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates

    Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how. Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss: - Exness’s marketing approach in South Africa - What makes their trading product stand out - Customer retention vs. acquisition strategies - The role of local influencers - Managing growth across emerging markets 👉 Watch the full interview for fundamental insights into the future of trading in Africa. #Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates