Freetrade 💸

If you read the Medium article, at the bottom under the list of what’s coming they have written:

" 2020: Acceleration :hammer_and_pick:

The big one. A juggernaut representing the size of Freetrade’s ambitions, our Invest Platform is the single most significant piece of engineering work we’ve undertaken.

Phase one will see all customers migrate onto the Invest Platform in December, enabling us to release features fractional shares, thousands of US stocks, and more early 2020."

So looks like fractional shares and more stocks are on the way.

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Indeed. long awaited one. will make me a happy customer if I can have more investment options.

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Thanks for that, clearly missed out that piece when I was speed reading it!

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It wasn’t obvious. You’d think they would have made slightly more effort to highlight it as an update that’s coming to the platform. It seems to be the main request I see people posting to ask for.

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And would alleviate a lot of nervousness about the seemingly slow development pace, even more so in the face of ever growing competition.

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This just came out.

& a bonus -

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Freetrade’s about to begin charging £3 a month for their Stocks & Shares ISAs.

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Seems a bit steep to me. £36/year for something you come to expect as a hygiene factor.

I get that they look for ways to make money, and a subscription model for an ISA is the logical starting point, but I doubt that the average pot size of their users is high enough to warrant a £36 expenditure on top of it.

For £3/month I’d expect more, previously they said that unlimited insta trades would be part of the mo that charge. Surprised it’s not on there.

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Out of interest, what would you consider enough to make the £36 good value?

You might be confusing this with their Alpha subscriptions, which were previously shown as £7 per month on the website? They’ve removed all of the details about the prices and what’s included now though :thinking:

Something like £7,500, which then equates to c. 0.5% charge per year, which seems reasonable for a digital platform.

Ah yes, you are absolutely right. My mistake. I do wonder when the Alpha account will come out, I should get a year’s free of it due to my last crowdfunding investment.

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That seems fair, I think they’d argue that you need to consider your cumulative gains, both in terms of returns and the limit on your contributions each year. But I expect a lot of people will stick to doing that sort of calculation instead.

True, but I’d suspect returns will be much more volatile for most DIY investors than if you just stick your money in a fund and let it sit there.

After all, most DIY investors aren’t as proficient, may be driven more by emotions or bias, and with a small amount of money it’s not always easy to create a balanced portfolio.

I’m not sure whether this takes fees e.g. for instant orders, into account though?

A big step forward. On the other hand, such a basic functionality that you wonder why they didn’t do it earlier.

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I’ve no idea about coding but they said on their blog that Alex linked, “As there are a number of calculations that we had to take into account, it’s been a relatively complex feature to add to your app.”

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Freetrade’s just added watchlists, which does what it says on the tin - it’s a simple list of stocks you want to keep an eye on.

Brilliant news.

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2 separate reports on the same day, both having spoken to numerous ex employees isn’t good

https://www.cityam.com/investigation-city-fintech-freetrade-accused-of-deliberately-fostering-culture-of-fear/

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Not good indeed and can not be excused.

However, with their proprietary investment platform now being rolled out, things may settle down. Or one would hope for the sake of the staff.

I am still a massive fan of them. They’re so easy to use and with fractional shares and a much bigger stock universe soon, it’ll be the only stock brokerage I will be using.

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What has that got to do with company culture?