• News
    • Industry News
    • Company News
    • Funding Rounds
    • Partnerships
    • M&A
    • People News
  • Sector Updates
    • Blockchain & Cryptocurrencies
    • CyberTech
    • Data & Analytics
    • ESG FinTech
    • Funding Platforms
    • Infrastructure & Enterprise Software
    • InsurTech
    • Marketplace Lending
    • PayTech
    • PropTech
    • RegTech
    • WealthTech
  • Industry Research
    • Whitepaper: Addressing Advisor Movement in Wealth Management
  • Features
  • Events
    • AI FinTech Forum
    • AML & FinCrime Tech Forum
    • AML & FinCrime Tech Forum – USA
    • Data Management Tech Forum
    • ESG FinTech Summit
    • CX in Financial Services Forum
    • Global InsurTech Summit – Europe
    • Global InsurTech Summit – USA
    • Global RegTech Summit – Europe
    • Global RegTech Summit – APAC
    • Global RegTech Summit – USA
    • Global WealthTech Summit – Europe
    • Global WealthTech Summit – USA
  • FinTech Rankings
    • AIFinTech100
    • CyberTech100
    • ESGFinTech100
    • InsurTech100
    • RegTech100
    • WealthTech100
  • Market Maps
    • ESG FinTech
    • WealthTech
    • FinCrime Tech
  • Newsletters
  • Courses
    • Professional RegTech Certificate
  • Marketing
  • About Us
Search
  • LOG IN
Welcome! Log into your account
Forgot your password?
Recover your password
FinTech-Global FinTech-Global FinTech Global
  • News
    • Industry News
    • Company News
    • Funding Rounds
    • Partnerships
    • M&A
    • People News
  • Sector Updates
    • Blockchain & Cryptocurrencies
    • CyberTech
    • Data & Analytics
    • ESG FinTech
    • Funding Platforms
    • Infrastructure & Enterprise Software
    • InsurTech
    • Marketplace Lending
    • PayTech
    • PropTech
    • RegTech
    • WealthTech
  • Industry Research
    • Whitepaper: Addressing Advisor Movement in Wealth Management
  • Features
  • Events
    • AI FinTech Forum
    • AML & FinCrime Tech Forum
    • AML & FinCrime Tech Forum – USA
    • Data Management Tech Forum
    • ESG FinTech Summit
    • CX in Financial Services Forum
    • Global InsurTech Summit – Europe
    • Global InsurTech Summit – USA
    • Global RegTech Summit – Europe
    • Global RegTech Summit – APAC
    • Global RegTech Summit – USA
    • Global WealthTech Summit – Europe
    • Global WealthTech Summit – USA
  • FinTech Rankings
    • AIFinTech100
    • CyberTech100
    • ESGFinTech100
    • InsurTech100
    • RegTech100
    • WealthTech100
  • Market Maps
    • ESG FinTech
    • WealthTech
    • FinCrime Tech
  • Newsletters
  • Courses
    • Professional RegTech Certificate
  • Marketing
  • About Us
  • FinTech News
  • Company News
  • Industry News
  • RegTech

FCA Reviews Trading Apps

June 24, 2024
FCA

The FCA has published findings from a study which indicates the use of digital engagement practices (DEPs) by trading apps can influence user behaviour, increasing trading frequency and risk-taking among consumers.

The study, a first of its kind for the FCA, involved creating an experimental trading app platform to examine the effects of various DEPs, such as push notifications and prize draws, on trading habits.

The research highlighted that DEPs tend to have a more pronounced effect on certain demographics, including individuals with lower financial literacy, women, and younger users aged 18-34.

This revelation comes at a crucial time as the FCA’s Consumer Duty mandates that trading app designs and functionalities should cater effectively to all consumers, helping them make informed and timely investment decisions, particularly for those identified as vulnerable.

The FCA’s warning to trading apps last year to reconsider their game-like design elements was a precursor to the implementation of the Consumer Duty standards. This ongoing scrutiny reflects the regulator’s commitment to ensure that financial services delivered through apps do not compromise consumer well-being for engagement.

FCA Executive Director of Consumers and Competition, Sheldon Mills, expressed concerns about the potential for trading apps to lead consumers towards more frequent and riskier trading behaviours. “Trading apps have the potential to transform retail investments, but some in-app features might be pushing consumers towards more frequent or riskier trading, which isn’t right for everyone,” Sheldon Mills said. “With usage and popularity of trading apps growing, we’ll be keeping them under review to make sure customers can make investment decisions that suit their needs.”

In addition to monitoring app functionalities, the FCA continues its efforts to educate the public on smart investment practices through its InvestSmart campaign and has taken legal action against ‘finfluencers’ who improperly promote financial products on social media platforms.

Keep up with all the latest FinTech news here.

Copyright © 2024 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.

  • TAGS
  • Consumer Duty
  • digital engagement practices
  • FCA
  • finance regulation 2024
  • InvestSmart campaign
  • Trading Apps
Previous articleREGnosys contributes Rune DSL to FINOS open source initiative
Next articleComplyport Launches AI Compliance Tool
dwillis

RELATED ARTICLESMORE FROM AUTHOR

Ireland
Company News

Bank of Ireland UK fined £3.78m for CoP delay

AI
Company News

Senior leaders warn of critical AI compliance shortfall

Why banks re-entering advice could be good for everyone
FinTech News

Why banks re-entering advice could be good for everyone

AI
Communications Monitoring

The last-mile problem in AI security explained

compliance
Company News

Compliance software for financial services explained

Ortec Finance launches OPAL targeted support BETA
Company News

Ortec Finance launches OPAL targeted support BETA

Latest Analysis

Euopean top FinTech deals Q1 2026
FinTech News

UK cemented its place as the European FinTech hub attracting four...

May 1, 2026
Global WealthTech funding Q1 2026
FinTech News

Global WealthTech funding grew in Q1 2026 driven by a 42%...

April 30, 2026
US FinTech top deals Q1 2026
FinTech News

Vestwell heads US FinTech deal rankings in Q1 2026 as funding...

April 27, 2026
France FinTech funding Q1 2026
FinTech News

French FinTech funding hit five-quarter high in Q1 as investors prioritise...

April 24, 2026
US WealthTech deal activity Q1 2026
FinTech News

California and New York dominated US WealthTech market as deal activity...

April 23, 2026

News Stories

How QUODD is helping firms take back control of market data

How QUODD is helping firms take back control of market data

May 1, 2026
Data is the lifeblood for modern finance, and how it’s managed can make or break a business. QUODD was built to help firms improve...

FinTech funding hits $800bn as US firms dominate market

May 1, 2026
US firms secured almost half of all FinTech deals this week, as global funding reached a solid $800m across 21 transactions. American companies accounted for...
Most UK financial planning firms say AI won't cut jobs in 2026. Discover what the data reveals about AI adoption trends

Most financial planning firms say AI won’t cut jobs in 2026

May 1, 2026
The Saltus Partnership Programme, a support network for financial planning firms, and L.E.K. Consulting, a global management consultancy, have jointly released the second edition...
HB Wealth adopts Arch to scale private markets ops

HB Wealth adopts Arch to scale private markets ops

May 1, 2026
HB Wealth, a fee-only independent wealth management firm with $30bn in assets under management, has expanded its partnership with Arch, a private markets operations...

Prometeia opens Frankfurt office to deepen EU presence

May 1, 2026
Italian advisory and analytics firm Prometeia has expanded its European footprint with the launch of a representative office in Frankfurt. The German city is home...
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
© FinTech Global © Copyright 2024. All rights reserved.

Technology partner
Advanced Vision IT

120,000+ FinTech leaders get exclusive industry stories delivered every week

MORE STORIES
NGFS

NGFS launches Version 2.0 of data directory to tackle climate finance...

September 9, 2024
Affinity Federal Credit Union has announced its strategic partnership with Green Check, a leading FinTech connector and technology provider in the burgeoning cannabis banking sector.

Affinity Federal Credit Union partners with Green Check to expand cannabis...

October 19, 2023