Freetrade: Free Share Trading

It is disappointing, there’s nothing exciting in it. Reminds me of another Plus offering.

I thought you were joking until I looked :joy:

See if they rebrand hot Coral next although it kind of reminds me of the plus card with the graduated colour

Over the next few months, you’ll see us continuing to increase both the Basic and Plus stock universe, and the latter will start to include even more investments, for example companies with small market capitalisation, that typically represent more risk, but also, more potential upside if they become successful.
Introducing Freetrade Plus

If they are pay walling higher risk stocks, I think in a way that’s a good thing, as it should prevent the average joe from complaining that they lost loads of money by investing in company x through Freetrade. Granted there’s other ways to help reduce the risk of people investing in those riskier stocks, though I think that’s a reasonable option.

If ever a Freetrade user needed more encouragement to use Trading212 then plus is it.

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At least the £9.99 includes a “free” ISA :roll_eyes:

I was a bit disappointed. £9.99/month just to hold an ISA is a bit of a cheek. Surely they should have kept a more basic intermediate option as well?

To be fair, it’s not clear if the “ISA only” option is remaining. Hope it is.

Any particular reason? I have a few gripes but it’s much much better than Freetrade by a long shot.

Like comparing a pea to a bowling ball.

I prefer FT UI but the attitude of some of their staff particularly on their forum is off putting.

In terms of functionality your comparison is quite correct.

CFD accounts have plenty of warnings in place and also a demo account to use before using it for real.

If someone who’s new to trading decides to jump straight in without learning the ropes and understanding that every trader is going to lose before they start making money then that’s not on T212.

It’s the same issue regardless of whatever platform that offers CFD not unique to them. Also every site is required to display the loss rate 80% is standard for retail traders that don’t do it professionally.

All it’s doing is allowing you to take short positions and using leverage. You aren’t going to be touching really unless you’re intraday or swing trading tbh.

Nothing morally or ethical about it for me :smile:

Contract for Difference accounts are a vital cog in the trading world though allowing you to trade Forex, indices, and commodities.

Nothing evil about them at all, you can’t stop people having a go because everyone needs to start somewhere. They could enforce a set period of using the demo account unless your status is pro I guess.

it’s a bit like having beef with casinos because they take most money off non-professionals.

This Plus offering is way below expectations. Am I surprised? Absolutely not. Execution at Freetrade is poor (I think they’re ultimately constrained by a lack of engineers and a tight budget.) But with time, it will get better no doubt and a big VC round can’t come soon enough imho.

This is redundant and it’s a smear tactic I see used by misinformed Freetraders: Trading212 Invest and ISA will be self-sustainable before Freetrade even turn the crowdfunding taps off.

How? Securities Lending (they’ve updated their terms recently and transparency) and also are pursuing a freemium model later down the line but will break even without paywalling basic features.

Trading and Investing is the same in my book. You can’t stop people making bad decisions be that short or long term. There’s plenty of warnings that capital is at risk. :man_shrugging:

The change in terms dropped June 18th with 30day to consider whether you accept them or not.

It’s now August. Generating meaningful revenue with an established partner in IB. So no, it is the case.

And relax with the virtue signalling about CFDs. I hate them too but people have free will and the app definitely does not push people into them.

Literally click the link I dropped to the thread. Browse their forum for the topic and all the info you need it there. The source is the horse’s mouth. Literally ask them in their forum and a staff member will confirm for you too if you want more.

Apologies, virtue signalling is what I see generally from Freetraders when they want to bash T212. Totally understand where you’re coming from and why yours isn’t. Again apologies.

I don’t see why they’d have plans to cease a profitable business tbh. Only thing that will stop them is a ban of CFDs. I think they’re positioning themselves to pivot very well if this ever happens by investing in Invest and ISA now.

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Best is to read the terms and conditions on their website. They came into force from 22.07.2020 so this is now in effect.

Anyway back on topic: Freetrade Plus… I think it will be successful once SIPPs are added to it among other things (live pricing, AutoPilot, reduced FX fee, powerful insights, etc). Freetrade set out to make it so good you’d be compelled to pay for its value, so in time this will ring true.

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Having traits of mental health or addictive personality wouldn’t stop them losing money with investments any less though.

I think you need to look at what they are, it’s the same account as Invest/ISA at the end of the day. The focus is just on quick same day or weekly trades rather than years/decades.

Either way you’re still “betting” the market will go up or down at any given point.

I’ll leave it at that or we’ll be in an infinite loop. :rofl:

Freetrade Plus update:

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Being a shareholder in both Monzo and Freetrade, it pains to see that Freetrade are making similar mistakes to Monzo when it comes to rolling out its Premium account - such as removing some existing shares from the free tier and also in the way they have decided the pricing and which shares should go in which tier going forward.

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Understand where you’re coming from, but I’m long term bullish on Freetrade. On reflection, I like that we’re actually seeing customer facing progress and decisiveness now. Mistakes will be made, it’s inevitable as it’s a start-up, but what I’ve learnt from even looking at the Tesla story is to zoom out and see the bigger picture. Freetrade has product-market fit, great branding, closing in on what I’d consider a critical mass of users and is still on Day 1 in its story. As a crowdfund investor too, what they’ve done on a shoestring budget is still impressive to me and they can raise capital relatively easy to have room fo fail forward over next 5-10years imho

Plus ETF update:

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