Global FinTech Guide
Country Name
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 the 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.


Attitude of the country towards trading, social trading or signalling platforms

No reservations, but the market is still incipient. 

Legal affairs

Obligations and requirements to provide trading, social trading or signalling platforms described above

The licenses that may apply to these activities are the same as the ones indicated in the answers to question b), that is, the license of Portfolio Manager or of Broker Dealer. Please refer to our answers thereto. 

Additional comments regarding the legal situation for trading, social trading or signalling platforms or what FinTech’s must be aware of in this business area

Please refer to our comments under b) Legal affairs iii).

Economic conditions

Market size for trading, social trading or signalling platforms and biggest companies in this business area

Marginal market, and still at a very early stage.

Additional comments regarding the economic situation for trading, social trading or signalling platforms or what FinTech’s must be aware of in this business area

When offering securities (through internet platforms or otherwise) regulations regarding the public offering vis a vis the private offering of securities must be taken into consideration. If a public offering of securities is deemed to take place in Uruguay, then certain additional registration requirements regarding the issuer and the security would be triggered.


There are no records.


© 2022, (Erased). All rights reserved by (Erased) as author and the owner of the copyright in this chapter. (Erased) has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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