I’m not really complaining or expecting Freetrade to change their model or pricing. I understand they need to make money. The Plus pricing doesn’t work for my portfolio size (at least non SIPP) and trading frequency (intention is low frequency) compared to how much I pay elsewhere. Different pricing models will work for different people. Given that I’m not going to choose Plus, the fact that some investment trusts I would choose to invest in are only available in Plus then becomes a negative and means that Freetrade is not going to be a one stop shop for me. Which might mean after this ISA year that I choose a different option at another provider since I’d rather not have multiple accounts. I think it is reasonable to highlight how the evolving Freetrade model might be changing Freetrade’s customers minds.
Its the same ball park price as a Cup of coffee,netflix or Spotify subscription, 2 beers or a cheap takeaway except it gives you the potential to make money back, yeah its not nice paying for things but when you think how much you spend on other things like mentioned above its really not much at all! I’m sure you are able make more profit from the free shares available on freetrade to pay for it anyway
This might help and has been upvoted a lot by the community. You can provide feedback by adding your vote.
Thanks for that - I have added my vote. I think that would be a good option for me.
But I buy a coffee to enjoy it, it’s not an investment, same with Netflix.
My portfolio size is too small for £10 a month to be viable.
I understand they need to make money, and as a shareholder in freetrade I want them to grow. But as a freetrade user I’m frustrated that stocks I currently have access to are going to be taken away and gated.
More than happy for future stocks to be part of premium as that is new content.
It’s like owning a computer game and someone a few months in takes away levels, it does sit well or make sense
Will any of the stocks only on Freetrade Plus make it onto the free listing in the future?
What happens if you pay for the Plus service purchase the stocks you want and then come off the plus and back to free trading?
You can sell them, but not buy more
Yes, if a micro cap company grows their market cap they’ll get included in an index which is available to all e.g. an AIM 350 company that gets promoted into the AIM 100.
This will mean some growth is missed, but most companies won’t make it this far.
Would it be utterly predictable of me to say “there are quite a few ISA eligibility errors in that new batch” ?
Yeah? I know, it would.
Unfortunately, there is.
Freetrade, drop me a message.
Sorry for the (predictable) interference… as you were… carry on
Just to flag that we’ve moved two stocks added this week to the free universe - BG US Growth Trust (USA) and Indivior (INDV). We were working so hard on the new additions that we just missed a couple of recent index promotions!
Thanks to the community members who flagged this
I just changed electricity supplier to save £5 per month. If I can pay less for investing elsewhere to achieve the same goal I will. Managing cost is important to me. It all adds up…
You do realise that there are a lot of people who don’t subscribe to services such as Netflix, Spotify or buy cups of coffee etc. because they judge it poor vfm?
Freetrade Plus falls in the same category for me - I find the offer uncompelling and expensive for what it is - in fact for many I suspect its much worse value than Spotify or Netflix is for example.
You also need to consider the alternatives and none of them are paywalling well known UK companies as Freetrade intend too.
None of them? Which ones?
Some brokers limit access to certain markets based on the account a customer has but this tends to an entire country/market such as all US/HK/EU shares etc
However, I am not aware of any broker which says that something on the FTSE 350 is charged at one rate but we won’t let you access other FTSE shares unless you pay a lot extra like Freetrade intend to do.
As far as I can tell some of the firms planned to be paywalled by Freetrade behind Plus include
I think they would do much better by charging a small percentage when you sell a Plus share with capital gain than charging £9.90 a month. Offering as an advantage can set a purchase order limit and more. That way, everyone would be free to acquire these shares from the Plus account.
While I get that some are unhappy about certain stocks/companies being Plus only, people seem to be coming to conclusions without all the facts. Saying “Plus isn’t worth it for me” at this point needs to be taken with a grain of salt, I feel. We don’t yet know the full list of features that will be offered at launch or what will be added just afterwards. Chances are that few outside of the Freetrade team do.
Even taking into account the full feature list at launch and that new features might be added soon afterwards, it only takes one buy costing you £10 more - or one sell losing you £10 more - than you expected to make Plus worthwhile. People assume they’ll get the best price and don’t need limit orders or stop losses. The reality is that some shares frequently change in price between someone tapping buy or sell and that request being completed. Even if you’re not frequently trading, this can put a damper on your day.
For example, 100 shares at £1 or £2 each fluctuating by 5 pence between the tap and the instruction being carried out could cost between half and all of a month’s subscription to Plus. I asked about a yearly prepaid discount and was told that’s coming at some point, so that could make Plus even more worthwhile to some.
I’m not trying to say Plus will be perfect or somehow “stand up” for Freetrade. I just think that a lot of people aren’t considering all the features and what savings or gains Plus might make for you. Personally, I tend to do fairly frequent trades between £25 and £60. That’s really not a lot, but knowing Plus will guarantee a minimum sell price or stop me paying more than I want is worth it to me. Assuming those prices are reached by the market, of course.
Can you please add Salt Lake Potash SO4 so i don’t have to hold it in DEGIRO
I think, unfortunately, this will move a lot of customers from FT to Trade 212 or Revoult.
£120 per year is more expensive than most brokerage accounts (although trading fees).
One of the cheapest actually. It very much depends on your needs.