Ninety Nine offering brokerage services in the EU


(Justin Timeson) #1

Looks like Ninety Nine are launching soon too
The competition is hotting up
Fun times


Robinhood
#2

Looks more credible than Bux and their proposed stock universe is stacked. Less curated than Freetrade’s but can’t find any mention of fractional US shares.

Appears first mover advantage for Freetrade in the EU is gone but very much remains in the U.K.

P.S.

P.S. can this be made it’s own topic so we can track it better @Vlad @alex.s


(Vladislav Kozub) #3

It is interesting they decided to offer that many exchanges regardless of potential demand and liquidity. Also, they decided to go via the route of multi-currency accounts:

Also quite interested to see their pricing model :slight_smile:

In either case, still better than Dabbl as it looks at the moment :grin:


#4

According to their website “ninety nine will be available in all 28 countries of the EU.”

On how they’ll make money “We make money from the same sources traditional financial institutions do, like, for example, interest, lending, currency exchange, and additional optional services.”

Their Academy section looks good.

The homepage says your investments will be covered for up to 100.000€ through a separate guarantee fund - Anyone know what they mean by this?


(JamieP) #5

The Deposit Guarantee Schemes Directive (DGSD) requires EU member states to operate some sort of financial protection on deposits up to EUR100,000 or equivalent. This is the reason we have the Financial Services Compensation Scheme in the U.K. :wink:


#6

I know about deposits but it says investments :slightly_smiling_face:


(Vladislav Kozub) #7

Whilst cannot answer @saf’s question, I feel like my rights are being breached :roll_eyes::

image


(JamieP) #8

:grinning::smiley: until recently it was £75k but the value of the pound dropped so much it had to be increased.


#9

It’s probably a wording issue but wanted to double check in case I missed something.

They also say following the strictest of security standards because you know we would assume a lackadaisical approach to security unless they state this :wink:

In other news I like the way they are using gamification to find the European country with the most demand before pushing there. Yesterday it was Spain ( obviously because it’s a Spanish company ), then Germany.