Freetrade - Fintech Q&A! 🤝


#26

Why are customers being onboarded at such a slow rate? Believe the app has been released for over a month and there’s a big waiting list of users.

You mentioned each customer is profitable for freetrade - how much profit do you make per customer and what are the revenue sources? Isit just from the instant trade fee and alpha membership?

Are there any plans for freetrade to support a marketplace for crowdfunded shares?

What are your growth forecast for end of 2019 - and why do you think they can be achieved?


#27

Is there any plans for an invite system where I can invite my friends to use Freetrade? If so, would there be any incentives for me?


(James) #28

How do you plan to onboard more people who are new to share ownership?

Do you have any plans for an IFTT integration - linking my Monzo purchases would be awesome!

Do you have plans to add share price notifications to the app - or to allow price based rules for auto purchasing?

Cheers! :raised_hands:


#29

Thoughts on Revolut planning to muscle in on this space?


(Harry) #30

ahh yes, that’s what I need too!


(Adam ) #31

We’re launching the Android app early next year :muscle: but we just launched the waitlist app for Android &…you download that here.


Freetrade: Free Share Trading
(Adam ) #32

Yes, I can.


(Adam ) #33

That’s awesome to hear!

  • We definitely want to enable you to transfer your portfolio from other providers to Freetrade.
  • At the moment you’ll need to sell your your existing portfolio & buy it back with Freetrade.
  • The good news is you don’t have to pay to purchase your investments again using Freetrade :wink:

But we know that, that’s not ideal so transfers are on our roadmap for next year.


#34

Done and also going to be cheeky and ask

Zero commission investing Freetrade has arrived. Get early access with my link: https://freetrade.io?kid=TJ623

Also how long till the android app is out/I can get access?


(Adam ) #35

Where do I start :wink:

The biggest thing is our mission - we want to open up investing to everyone so they can make their money work.

  • Removing fees is a big part of that because it removes a large barrier to investing - before you had to invest quite a lot of money, otherwise the fees meant that it wasn’t really worthwhile.
  • That mission will also shape our product decisions, for example, we display our stock prices in pounds & pence not pence, which is a lot easier to understand for someone who’s new to investing.
  • We’re also focused on building a service for long term investors, rather than day traders (who mostly lose money), which is a much safer way to grow your savings.
  • The product decisions we make are always going to be in the best interest of our customers and their investment outcomes, eg our first major new feature was releasing a Stocks and Shares ISA so you can shelter your investment gains from tax, versus other platforms that prioritise things like leverage/margin trading.

(Adam ) #36

We only have a small portion of the information that we want to display in the app eventually, right now.

For example, I’m keen to share more details about ETFs, to make it easy to compare the different choices.

Let us know what else you’d like us to include & how you’d use the info here.


(Adam ) #37

Not really. We’ve shared why we added that description here & we kept it after our users voted to say that they liked it. We’ll keep that under review, based on user’s feedback in the future though.


(Adam ) #38

We think that a phone is where most people will manage their portfolios & there’s enough space to include the information that a long term investor will need. But we’ll probably add a web interface in the future too.


(Adam ) #39

Answered that one above :point_up:

No, just exchange-traded funds (ETFs).

See above for that, too.


(Adam ) #40

The tool that we use to manage our waitlist does verify email addresses & looks out for unusual behaviour that suggests that someone’s trying to game it. So it’s definitely not a full 70k (eg some people might sign up with their personal and work email) but it’s not way off, and we’ve already seen evidence of this in the conversion of invites to actual accounts.


(Adam ) #41

b7e


(Adam ) #42

The poll showed us that a bigger portion of our target audience were on iOS. It doesn’t hurt that iOS users typically have a little bit more money to invest too. :money_mouth_face:

We’re just getting started with our current selection of stocks. US stocks are launching at the start of the next year and we won’t be stopping there.


(Splodf) #43

Already at 0 baby!


(Adam ) #44

:100:

:white_check_mark:

Yep.

We’re not quite at 10k yet, plan to get there in the next couple weeks.

Right now it’s one or the other, but you’ll be able to have multiple account types soon. In the future, this will include other types of ISAs and SIPPs.

I think if we see fee compression across the industry it would be a good thing, and we’re happy to be leading the charge.

We’re waiting to see what happens with Brexit / reg passport before revealing our plans.

Nothing to share on this right now, but we are keen to make it easier for customers of Monzo to integrate with Freetrade.

That would be cool, too!


#45

Could you give us a hint of a date :stuck_out_tongue: