Ninety Nine offering brokerage services in the EU

Looks like Ninety Nine are launching soon too
The competition is hotting up
Fun times
https://www.ninetynine.com/invite/Ak4CSvDs9KJBV5Di35ZWp985

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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 @Freetrade_Team1

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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:

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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?

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:

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I know about deposits but it says investments :slightly_smiling_face:

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

image

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

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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.

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Just received access to their beta.

It sucks so bad.

Eagerly waiting for freetrade’s launch in France.

What’s wrong with it?

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  1. Their beta is with virtual money

  2. Some of the design of the app looks not well though to me. E.g. to confirm the purchase of a stock you have to swipe up from the bottom of the screen. On iPhone and (I suppose soon on Android with Android Q) this causes multitasking animation.

  3. They give you virtual €10k to invest and when you invest in something you still have €10k in your account. The balance does not change. Would be nice to have this with real money.

Some of the +++:

  1. they have collections based on a certain theme (“stop global warming”, “gamers arena”)

  2. you can follow a user and see what he is investing in

Otherwise the app is fine. It is just that the beta of an investment app does not actually offer investing.

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Just got my waitlist link today. Ye I noticed the virtual account so there so way behind Freetrade in my opinion. Which is good to know!

Edit: But they are taking a Europewide approach it seems

After a recent update their beta is crashing on start up. I am running latest iOS 12. Execution is important