Commission Free Stock Trading

Is Monzo looking into commission free stock trading to compete with Robin Hood which is coming to UK soon?

Would be nice to be able to get paid salary and invest from the same mobile app.

Also this space badly needs competition as legacy brokers are really bad.

It’s highly doubtful that Monzo would look to compete in this space.

Have you considered Freetrade?

Free trade is a very small startup. For a broker I’d prefer a bit more established organisation as I don’t want to risk my broker disappearing overnight.

Monzo seems big and established enough that even though still a startup I wouldn’t be afraid to hold some of my investments there.

I think it would also be potentially a new revenue stream for Monzo to help it achieve profitability.

Free trade is a very small startup. For a broker I’d prefer a bit more established organisation as I don’t want to risk my broker disappearing overnight.

Freetrade blog on keeping your money safe

If that were to happen you’d be protected anyway

Finally, if all else fails, as a regulated UK financial business, all deposits with us are covered by the FSCS (financial services compensation scheme).

In the unlikely event of our bankruptcy, it’s also unlikely that client assets would be exposed at all to administrators. But even in this improbable worst case scenario, the compensation scheme will cover funds up to £85,000.

Monzo was a startup once :wink:

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Still is imo. Same risks.

Similar risks but not sure about them being a startup

But the scale is bigger. 100s of millions of raised capital vs 5-6 million for Freetrade. Much less likely Monzo is going out of business given how big it has grown.

It really comes down to the business model, the profitability and the risk level. Scale doesn’t really need to come into it. My company is tiny but it makes more profit than Monzo…

They’re different types of businesses and although in the same industry it’s difficult to really compare in this way.

I’m going to reply with one company.

WeWork.

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