Will be interesting to see the valuation
Covid has been generally positive for them, so will definitely be interested
About what I excepted, interesting news and looking a lot better placed than Monzo with raising!
Well, not really a reasonable comparison - it is an entirely different sector that has actually benefitted from the pandemic.
Congrats to Freetrade for taking advantage of the obvious momentum.
That was the point I was making, that it was interesting how different finance sectors had been impacted.
Also I’m not sure I would say entirely different, as both sub sectors of finance
Certainly appear to be capitalising well off the momentum… growth like a hockey stick :
Who has a paid subscription (ISA, Plus or/and SIPP) with Freetrade btw?
I just don’t get it. That’s one very expensive ISA if you’ve only got £800 in it. Ill advised
What would be useful to know if the figures go up year-on-year. That is, people are constantly adding money to their ISAs. That’s the important point.
Also, I know from personal experience now that it would be better to start off with an ISA than to invest in a GIA until you’ve built up enough to make ISAs cheaper, because the stress and hassle of selling everything and reinvesting it ‘costs’ far more in stress and hassle than the extra ISA charges for that first year.
Totally with you, except that there are plenty of cheaper ISAs already available
Agreed. Purely based on cost, it’s hefty and wastes the annual exempt allowance amounts.
On another angle, I guess it’s a good habit and statement of intent for that cohort of under 25s to start as they mean to go on with an ISA. There’s that piece of mind aspect that has value too.
212 still aren’t available for new customers, so there isn’t anyone in the U.K. market that offers the choice that the Freetrade ISA does for DIY investing commission free. Unless I’ve missed something.
I moved my current workplace pension into a Freetrade SIPP and transfer the ongoing contributions over to them every few months.
Very seemless transfer with a brief form in app triggering a transfer from the pension provider.
If you ask people at my work how much is in their pension pot 90% don’t have the foggiest idea as theirs is in the stale old default account that’s difficult to log in to or manage, contains investments they didn’t choose or don’t know precisely what is in their chosen funds and is of very little interest until they approach retirement.
Some might say a pension should be stale and boring and you could be at risk of gambling your entire pension on meme stocks with Freetrade, but personally it’s exactly what I’m looking for (not to gamble on meme stocks, but pick exactly what shares to invest in).
Finding it great so far - can login with a finger print and see the pot, change the investments whenever I want etc.
Ps. You need at least £5-10k to make the £10 a month a reasonable charge at around 1-2%. If investing sub £1k you’ll be paying over 10% which is nuts. Probably needs a health warning when about to press the Buy button on that.
Freetrade is significantly cheaper than legacy ISA providers. Although there may be some newer providers offering cheaper ISAs than Freetrade, they are not significantly cheaper, and their product offer may not be the best fit for what the buyer is looking for.
If you’re putting in under £1k a month but will end up with over £5-10k in the ISA after a year, it’s worth putting up with the initial high percentage, I’d say. It’s less stressful than trying to avoid re-buying the shares in your ISA for more than you sold them for from your GIA.