HeyTrade: speeding up wealth
HeyTrade is a next-gen platform that makes investing smooth and easy for all traders.
Launched in 2021, it gives customers access to thousands of ETFs, equities and stocks from the US, UK, Europe and more. Unlike traditional brokerages, HeyTrade lets traders create an account, verify their identity and start trading immediately. No delayed account verification, no waiting for funds to settle, just a smooth, safe and fast experience.
To make that happen, HeyTrade relies on TrueLayer for payments and data. With the help of open banking, HeyTrade customers can sign up for an account and fund their investments at the speed of modern markets.
Using a traditional brokerage account can be a frustrating experience. It can take days for new users to get onboarded, and once that process is complete, funding a trade can result in further delays.
But moving to a new platform provides its own problems. Many traders have experience with traditional brokerages, which can make it difficult for challenger brands to establish trust. And customers can face further friction when they decide to switch to a new provider.
The team at HeyTrade knew they had to address both problems: to create a better investor experience that would build trust with users. So they turned to TrueLayer to help find a solution.
We knew technology was ready to make the trading process much better, and these were the challenges we wanted to solve when we launched HeyTrade.
The HeyTrade team selected TrueLayer for its expertise and experience and quickly saw an opportunity for European expansion. They decided to use TrueLayer’s data and payments products at launch to make onboarding and pay-ins faster.
The partnership had an immediate impact on HeyTrade’s customer experience. Using TrueLayer’s Data API, HeyTrade’s onboarding processes can match a customer’s information against their bank account details to check their identity. The impact was clear: while traditional brokerages can take days to open an account, HeyTrade customers can do so in a matter of minutes.
And topping up is just as easy. With TrueLayer Payments, HeyTrade can give their customers an instant trading experience. That makes funding a trade much faster and much more intuitive, resulting in a much better experience for HeyTrade’s customers.
TrueLayer shared our vision. We found not just an open banking supplier, but a partner to help us realise our vision for HeyTrade.
Working with TrueLayer helped HeyTrade unlock a better experience, and customers have taken note. Today, more than half of HeyTrade’s investors use TrueLayer as their default payment method.
And investors aren’t just using TrueLayer Payments more often — they’re also trusting it for higher-value trades. The average HeyTrade user deposits €1300 through open banking payments.
By harnessing the data and payments capabilities of open banking, HeyTrade has created a better way for customers to trade. Powered by TrueLayer, it provides what traditional brokerages can’t: a fast, frictionless user experience.
It’s not only the technology but also the team that makes a difference. I would highly recommend TrueLayer to any company starting its open banking journey.