Just downloaded Freetrade app onto my Android phone. Surprisingly to find there are 70,310 ahead of me, really bringing back some flashback memory when I first joined Monzo early this year!
I am highly interested in investing into Freetrade on Crowdcube, like anyone else here who has ask - will you be keen to open another round of fund raising early next year before your customer and European expansion?!
Question - it’s great you’re doing a very flat and free fee platform and non-roboadviser. Regarding the advisers, will you consider to have their CV/experience on their profile? And will these advisers be freelancers? Sorry I just wanna learn more how does it works from the point of both consumer and potential investor.
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.
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.
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.