Freetrade: Free Share Trading

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So basically charging £9.99 a month to be able to place limit and stops :crazy_face:

Why not come up with innovative portfolio management tools or something worthy of the fee, and paywalling access to stocks is such a shitty idea.

Its like Monzo making people pay to access the credit report. Lazy ways of trying to make something worth it with minimal effort.

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Like how they make reference to Plustomers ™ … too lazy to come up with their own nick name :joy:

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:

Completely agree with you. I was expecting something, well, more…

There’s nothing here for me that’s worth £9.99. I don’t plan to leave Freetrade over it though, I like the app and the platform, and the current free version already works well enough for my needs.

Reserving stocks for the plus account is a bit of a scummy move though, but I never signed up to Freetrade because of what stocks are available. As long as they don’t put existing stocks behind that paywall, then I’m not losing anything from this. A plus first approach for new stocks would be easier to stomach though, whilst still offering some value.

This makes the Robin Hood indefinite delay hurt a little more though. I don’t like Trading212, so i won’t be moving to those in a hurry.

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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?

Is the £3 ISA going away?

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

I hope so too. I’ve not read anything that indicates it’s going anywhere. The fact they’re advertising that the ISA is free for Plus users, would suggest its sticking around as a separate paid option.

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.

It’s just a moral and ethics thing for me when it comes CFD subsidisation. Plenty of other people have already touched upon it, so I won’t rehash it, but that’s all it comes down to for me.

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:

That’s a fair viewpoint to take, but my issue is with the concept of the nature of CFD trading in the first place, so I’ll take issue with any provider that offers them.

They might make every best effort to warn and educate their users, and absolutely the onus is on the user if they then proceed. But CFDs as a product are, in my view, evil, and I find it unethical for companies to even offer them.

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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.

To be fair, I take issue with casinos and the concept of that kind of gambling too, and the way they tend to pray on vulnerable people with addictive personalities. (Yes, I know investing is essentially a form of gambling in its own right, but it’s a form I’m comfortable with) :sweat_smile:

To each their own, I guess.

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