Share trading and investment in Monzo

When Monzo last received funding, it seems that Monzo released a press release or similar suggesting that they would be moving into share trading, investment and/or crypto services.

This is the typical quote from the media at the time:

it [Monzo] is exploring new products such as a platform for retail investors to invest in stocks, people familiar with the matter told the Financial Times. This will include cryptocurrency trading, although this is only at an exploratory stage.

Source: Financial Times

So, the question is what would this look like in the app?

We need, of course, polls!

  • I regularly trade stocks and shares (for short term gain)
  • I invest long term by choosing stocks and shares myself
  • I invest long term through a managed fund or robo-adviser
  • I don’t do any of these

0 voters

  • I have a general investment account (not an ISA)
  • I have a stocks and shares ISA
  • I have a Lifetime ISA
  • I have a Junior ISA
  • I have none of the above

0 voters

What are the two most important things for you?

  • Customer service
  • Portfolio performance
  • Fees and charges
  • Integration with other financial services (e.g. current account)

0 voters

What would you like to have in Monzo?

  • the ability to buy and sell individual shares (like Trading 212 or Freetrade)
  • defined funds or strategies (like Dozens or Vanguard)
  • a crypto wallet
  • something else (tell us what below!)
  • none of the these

0 voters

What would be the best approach in the Monzo app?

  • I don’t want this in Monzo
  • Open banking style integration with existing providers (like Freetrade, Nutmeg, Vanguard, T212 etc)
  • Integration with a chosen supplier (like Transferwise for international transfers)
  • Monzo builds it themselves (or appears to be Monzo native)

0 voters

What, if anything, would encourage you to use Monzo for this?

  • Nothing
  • cheaper than the competition
  • having everything in one place
  • integration with current account (e.g. invest round-ups)
  • something else (tell us below)

0 voters

Anyway, what do you think about this? How would you like it to work?

Argh! I always mess something up :see_no_evil:

Let’s try the last one again:

What, if anything, would encourage you to use Monzo for this?

  • Nothing
  • cheaper than the competition
  • having everything in one place
  • integration with current account (e.g. invest round-ups)
  • something else (tell us below)

0 voters

I definitely don’t see them doing it without a partner. I don’t know what the requirements are to list as a trader on the London Stock Exchange but I’m guessing they aren’t light!

I reckon they’ll gun for Freetrade, as everyone else is probably doing

2 Likes

Found it difficult to answer several of these questions.

As an investor I think it would probably be a good thing for Monzo to expand into this area. But as a user I’m not sure I’d use it (I like having different aspects of my finances in different places) and would probably prefer more focus on core banking. Ended up answering polls as a user.

1 Like

Ah yes joining the innovation hype train that is crypto :man_facepalming:
I personally think they are a bit/very late to the party so either have to come up with something revolutionary or invest capital in something with little to gain. personally I would focus on Chinese expansion given Tencent has just bought a part of it.
(How that expansion would work with internal values, would probably be quite a struggle…)(and crypto for that matter given the outrageous environmental costs)

Personally I think stocks and shares integration has to have mass appeal and be a simple as possible.

Trying to provide advanced trading functionality (stop/limit orders, technical analysis, advanced charts etc) in a banking app would be too complex.

Off the top of my head, I think Investment in bundles of themed stocks (think T212 pies) / ETFs would make it simpler for novice investors and could be treated like a savings pot where you can deposit money (buy shares) and withdraw money (sell shares) at will.

I’d be happy to be able to view my GIA & ISA accounts with Free trade & Trading212, be able to deposit money easily, and in the case of T212 have that money autoinvvested in a selected pie.

1 Like

Good point. If Trading services joined in with Open Banking properly, then Monzo would have no development other than listing the available services to link to.

I’d be happy at the moment with just being able to see my Freetrade balance in the Monzo app alongside other accounts. I’d like it to develop into something more eventually though

5 Likes