The National Client Identifier (NCI) is a unique combination of symbols, typically consisting of numbers or a mix of numbers and letters., that every person who performs trades within a financial institution, such as Trading 212, needs to be identified with.
How do I find my National Client Identifier?
The National Identifiers differ depending on the client's nationality and range from personal identity codes through passport numbers to tax numbers. In most cases, your NCI will be included in your personal Identity Document, such as an identity card or passport.
Does the National Client Identifier differ based on nationality?
Yes, the National Client Identifier differs based on nationality. For example, the United Kingdom uses the National Insurance Number, which may not be included in your Identity Document, while in the Netherlands, the passport number serves as the NCI.
Why does Trading 212 need to confirm my nationality?
Every European-based regulated broker that offers financial services is obliged to comply with the MiFIR regulation that is related to the reporting of trading shares or other stock market listed instruments. Therefore, Trading 212 must confirm your nationality with your NCI.
What happens if my nationality is not confirmed?
If you don't confirm your nationality, your account will be set to Close-only/Sell-only mode. This means you won't be able to place buy orders until you provide your NCI. If you don't provide your NCI for a while, more restrictions may be applied.
How can I provide my National Client Identifier to Trading 212?
If your information hasn't been confirmed, you can contact Trading 212 and provide your NCI so that the limitations concerning your Trading 212 account are avoided.