Freetrade: Free Share Trading


(Dan) #690

Still got one before I submit it… come get it :laughing:


(S Lee) #691

I contacted Freetrade through the chat yesterday and then it worked. Glad to see yours working already! Enjoy!


#692

As you do ISA’s any chance of doing Junior ISA’s or do they work differently?


(Sendu Bala) #693

I’m hoping for a Freetrade JISA, but it’s currently not a priority. Please sign up on their forum and vote for it though!


#694

You stalking me :joy:

Will do :+1:


(Tom ) split this topic #695

A post was merged into an existing topic: Robin Hood announces US bank accounts paying 3% interest


#696

Good to see innovation in this field, but I have mixed feeling about Freetrade

  1. They have copied Monzo to a T on their marketing. No originality.
  2. They are not free despite the name! you have to pay a monthly fee or give up your tax free advantages (potentially a big cost)
  3. I heard one of the founders (won’t name him) make some pretty big blunders in an interview about the way the UK financial system works. Not very reassuring.

Freetrade: Free Share Trading
Robin Hood thread
(Only available in amateur ) #697

Point 2. They are free for basic trades. An isa costs but you don’t have to have one

Be interested in which interview you are referring to


#698

I don’t see the marketing copying Monzo. I see similarities in the way the member list is being built, however this is common amongst (fin)tech startups. Freetrade use Kickoff Labs for this. Unless you meant something else?

The ISA fee is £3 p/m which lets you do as many Basic ( free ) trades as you wish, which is reasonable in comparison to other services charging anywhere from £5 per/trade.

Also curious which interview and what was said.


(Rob) #699

Worth considering it’s been built with just £4m in funding (so far). It regularly gets compared against the fintech unicorns, I think, because it has that potential.

The fees are very low (and transparent). The market leader Hargreaves Lansdown charges 0.45% per year and £12 per trade! Compared to £1 per live trade and £3 per month for a Freetrade ISA. IMO it really is the best place to start investing and one of the only places where you can invest small amounts :slightly_smiling_face:


#700

So over the weekend transfered £20 to get my 1st investment under way :wink:

Money arrived in the account today, go to purchase shares select the basic option add the amount click review then confirm to buy App crashes tried several times everytime it crashes.

Raised a “ticket” with COp’s advised issue and mobile phone type iPhone 5, get a reply to say its a know bug and should be fixed in next update, no idea when that will be though, so currently the app is usless to me.

Withdrawn my cash now and that will take 2- 3 days to get added back so also need faster payments on withdrawls

So not a good start at all on my experaince


(Alex Sherwood) #701

I’m sorry to hear that you’ve run into that issue, it should be fixed in tomorrow’s release.

We do offer withdrawals via Faster Payments but since they cost us money, we charge a small fee for those. Please drop us a line via the live chat if you have any questions :slight_smile:


#702

Hi Alex,

If the COp’s had advised the update would be released tomorrow I would have left the cash in the account and tried again tomorrow, but was just advised “next” update.

Already processed withdrawal :wink:


(Alex Sherwood) #703

Thanks for letting me know.


#704

Well I am now the proud owner of 1 share in Gold, i feel rich already :joy:

The update worked for iPhone 5, they also cancelled the withdrawal due to update being relased today which was good.


(Splodf) #705

Sounds like good Customer Service. Glad you got sorted.

Speaking of gold. I’ve always fancied one of those small 1 or 5g gold bars from https://www.royalmintbullion.com/Products/Gold-Bars

No idea why, if I was a millionaire I’d definitely have a safe with a few of the Kilo bars in it…

:sunglasses:


#706

Yep wasn’t expecting Freetrade to be monitoring the community, but all sorted and all good :wink:

I used to live near the royal mint was never agile enough to get through or over the security bars :wink:


#707

I very much consider freetrade to be something that’s in an ‘alpha’ stage. In its infancy. And i treat it as such. I’m not sure freetrade place them selves in a similar position at least not explicitly publicly. but its definitely the way to look at it at the moment, its a very early in development platform with a limited number of public users having access.

I expect it will be a couple of years before i consider it to be more mature and ready for more mainstream use.


(Splodf) #708

Agree.

Here’s hoping they do a Crowdfunding round!


(Only available in amateur ) #709

Most definitely not Alpha in my opinion.

Very, very limited read only access to help test US stocks for those quick enough to sign up on their community today.