Global FinTech Guide
Global Overview

The global overview provides a quick comparison of legal and economic considerations for every participating country. To read more in-depth country specific information for each area, please select a country from the list.

Trading platforms/social trading platforms/signal following
FinTechs belonging to this category operate trading platforms or online marketplaces for investment opportunities or certain financial contracts – e.g. securities, factoring etc. and sometimes furthermore provide contact to financial experts and tools for decision-making. FinTech-signalling and social trading platforms provide users with the opportunity to exchange opinions on financial investments and offer signal providers and traders the possibility to make their securities portfolio publicly visible. This way the portfolios can be linked to and followed by other traders via the platform automatically, so that the trading and investment strategy of the followed traders can be copied. The platform often cooperates with a financial services provider or a credit institution where both the trader and the follower hold their securities accounts, and which execute the orders both of the trader and the follower and to which the platform passes on the trading decisions.
CountryDonation-based CrowdfundingReward-based CrowdfundingCrowdinvestingCrowdlending
Albanianononono
Argentinanonoregulation; license requiredno
Australianonoregulation; license requiredregulation; license required
Austrianonoregulationregulation
Boliviaregulationregulationregulation; license requiredregulation; license required
Bosnia and Herzegovinanononono
Bulgarian/an/aregulation; license requiredregulation; license required
Canadanonoregulation; license requiredregulation; license required
Chileregulation; license requiredregulation; license requiredregulation; license requiredregulation; license required
Chinaregulation; license requirednoregulationregulation; license required
Colombianonoregulation; license requiredregulation; license required
Costa Ricalicense requiredlicense requiredlicense requiredlicense required
Croatiaregulation; license requirednoregulation; license requiredregulation; license required
Czech Republicnonoregulation; license requiredregulation; license required
Dominican Republicnoregulation; license requiredregulation; license requiredno
Finlandregulation; license requiredregulation; license requiredregulation; license requiredregulation; license required
Franceregulation; license requiredregulation; license requiredregulation; license requiredregulation; license required
Germanynonoregulation; license requiredregulation; license required
Hong Kongnononono
Hungarynonoregulation; license requiredregulation; license required
Irelandnononoregulation; license required
Italynonoregulation; license requiredregulation; license required
Japannonoregulation; license requiredregulation; license required
Korea, Republic ofnonoregulation; license requiredregulation; license required
Malaysianonoregulation; license requiredregulation; license required
Mexicoregulation; license requiredregulation; license requiredregulation; license requiredregulation; license required
Montenegronononono
New Zealandnonoregulation; license requiredregulation; license required
Nigerianoregulation; license requiredregulation; license requiredregulation; license required
North Macedonianononono
Perunoregulation; license requiredregulation; license requiredregulation; license required
Philippinesnonoregulation; license requiredregulation; license required
Polandnonoregulation; license requiredregulation; license required
Portugalregulationregulationregulation; license requiredregulation; license required
Romanianonoregulation; license requiredregulation; license required
Russiaregulationregulationregulationregulation
Saudi Arabianonoregulation; license requiredregulation; license required
Serbianononono
Singaporeregulationnoregulation; license requiredregulation; license required
Slovenianonoregulation; license requiredregulation; license required
Spainnoregulation; license requiredregulation; license requiredregulation; license required
Switzerlandnonoregulation; license requiredregulation; license required
Thailandnonoregulation; license requiredregulation; license required
Turkeynonoregulation; license requiredregulation; license required
United Kingdomnonoregulation; license requiredregulation; license required
United Rep of Tanzanianononono
United Statesnonoregulation; license requiredregulation
Uruguaynonolicense requiredno
Vietnamregulation; license requirednonono
Regulation of trading, social trading or signalling platforms and requirement of a license
CountryAnswer Text
Albaniaregulation; license required2169Albania
Argentinaregulation; license required2514Argentina
Australiaregulation; license required2184Australia
Austriaregulation; license required2679Austria
Boliviaregulation; license required2926Bolivia
Bosnia and Herzegovinaregulation; license required2199Bosnia and Herzegovina
Bulgariaregulation; license required2969Bulgaria
Canadaregulation; license required2154Canada
Chileregulation; license required2244Chile
Chinaregulation; license required2259China
Colombiaregulation; license required2274Colombia
Costa Ricaregulation2289Costa Rica
Croatiaregulation; license required2304Croatia
Czech Republicregulation; license required2814Czech Republic
Dominican Republicregulation2819Dominican Republic
Finlandregulation; license required2857Finland
Francen/a2724France
Germanyregulation; license required2139Germany
Hong Kongregulation; license required2739Hong Kong
Hungaryregulation; license required2349Hungary
Irelandregulation; license required2694Ireland
Italyregulation; license required2334Italy
Japanregulation; license required2841Japan
Korea, Republic ofregulation; license required2364Korea, Republic of
Malaysiaregulation; license required2664Malaysia
Mexicoregulation; license required2634Mexico
Montenegrono2379Montenegro
New Zealandregulation; license required2394New Zealand
Nigeriaregulation; license required2895Nigeria
North Macedoniano2439North Macedonia
Peruregulation; license required2424Peru
Philippinesregulation; license required2409Philippines
Polandregulation; license required2484Poland
Portugalregulation; license required2499Portugal
Romanian/a2799Romania
Russialicense required2864Russia
Saudi Arabiaregulation; license required2884Saudi Arabia
Serbiaregulation; license required2469Serbia
Singaporeregulation; license required2936Singapore
Sloveniaregulation; license required2529Slovenia
Spainregulation; license required2544Spain
Switzerlandregulation; license required2709Switzerland
Thailandregulation; license required2559Thailand
Turkeyregulation; license required2754Turkey
United Kingdomregulation; license required2784United Kingdom
United Rep of Tanzaniano2769United Rep of Tanzania
United Statesregulation; license required2589United States
Vietnamregulation; license required2953Vietnam
Difficulty of upholding compliance with the regulation regarding trading, social trading or signalling platforms
CountryAnswer
Albaniaaverage2169Albania
Argentinahard2514Argentina
Australiahard2184Australia
Austriahard2679Austria
Boliviaaverage2926Bolivia
Bosnia and Herzegovinaaverage2199Bosnia and Herzegovina
Bulgariaaverage2969Bulgaria
Canadahard2154Canada
Chileaverage2244Chile
Chinaaverage2259China
Colombiahard2274Colombia
Costa Ricahard2289Costa Rica
Croatiaaverage2304Croatia
Czech Republicaverage2814Czech Republic
Dominican Republicaverage2819Dominican Republic
Finlandaverage2857Finland
Francen/a2724France
Germanyhard2139Germany
Hong Kongaverage2739Hong Kong
Hungaryaverage2349Hungary
Irelandaverage2694Ireland
Italyaverage2334Italy
Japanhard2841Japan
Korea, Republic ofhard2364Korea, Republic of
Malaysiaaverage2664Malaysia
Mexicoaverage2634Mexico
Montenegron/a2379Montenegro
New Zealandeasy2394New Zealand
Nigeriaaverage2895Nigeria
North Macedoniaeasy2439North Macedonia
Peruaverage2424Peru
Philippinesn/a2409Philippines
Polandaverage2484Poland
Portugalaverage2499Portugal
Romanian/a2799Romania
Russiaaverage2864Russia
Saudi Arabiaaverage2884Saudi Arabia
Serbiaaverage2469Serbia
Singaporehard2936Singapore
Sloveniaaverage2529Slovenia
Spainaverage2544Spain
Switzerlandhard2709Switzerland
Thailandhard2559Thailand
Turkeyhard2754Turkey
United Kingdomaverage2784United Kingdom
United Rep of Tanzanian/a2769United Rep of Tanzania
United Stateshard2589United States
Vietnamhard2953Vietnam
Level of competition regarding trading, social trading or signalling platforms
Albanialow2169Albania
Argentinaaverage2514Argentina
Australiahigh2184Australia
Austriaaverage2679Austria
Boliviaaverage2926Bolivia
Bosnia and Herzegovinalow2199Bosnia and Herzegovina
Bulgariahigh2969Bulgaria
Canadahigh2154Canada
Chileaverage2244Chile
Chinaaverage2259China
Colombiaaverage2274Colombia
Costa Ricalow2289Costa Rica
Croatialow2304Croatia
Czech Republicaverage2814Czech Republic
Dominican Republicaverage2819Dominican Republic
Finlandaverage2857Finland
Francen/a2724France
Germanyhigh2139Germany
Hong Konglow2739Hong Kong
Hungarylow2349Hungary
Irelandlow2694Ireland
Italylow2334Italy
Japanlow2841Japan
Korea, Republic ofaverage2364Korea, Republic of
Malaysiaaverage2664Malaysia
Mexicolow2634Mexico
Montenegron/a2379Montenegro
New Zealandaverage2394New Zealand
Nigeriaaverage2895Nigeria
North Macedonialow2439North Macedonia
Peruaverage2424Peru
Philippinesaverage2409Philippines
Polandaverage2484Poland
Portugalaverage2499Portugal
Romanian/a2799Romania
Russiaaverage2864Russia
Saudi Arabiaaverage2884Saudi Arabia
Serbialow2469Serbia
Singaporeaverage2936Singapore
Slovenialow2529Slovenia
Spainaverage2544Spain
Switzerlandaverage2709Switzerland
Thailandhigh2559Thailand
Turkeyhigh2754Turkey
United Kingdomaverage2784United Kingdom
United Rep of Tanzanialow2769United Rep of Tanzania
United Stateshigh2589United States
Vietnamaverage2953Vietnam

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