Is anyone using an Alpha account, do they get 50p trades yet?
Alpha is not yet available and the instant trades are currently at £1. It is the very-soon-to-be-done feature and I assume will be available during the wider rollout (maybe @Freetrade_Team1 could clarify)
We don’t have a timescale for launching Alpha yet I’m afraid but watch this space
Thanks, thought that might be the case. It won’t make a big difference till ISAs are available anyway.
Any updates on this or your other plans? It’d be nice to have some kind of tentative schedule something like:
- Short term 3 months - ISA, Alpha
- Medium term 12 months - android, limit orders
- Long term - sipp, crypto, other assets
IMO such a scedule would be beneficial both for freetrade (nothing motivates like a deadline) and users planning opening ISAs say. Nothing with dates, just something to set expectations as at present it’s not too clear which things you plan first.
That sounds like the roadmap that we’ve promised to share. We’re not quite ready to publish it yet but it won’t be much longer until we do.
Great thanks. I’d forgotten that was coming, I see I’ve even liked your post!
I just wanted to share a quick update on our progress towards building Freetrade Alpha.
We’re making steady progress with setting up Alpha subscriptions as part of building our own investment platform.
As a first step, I’m excited to share that we’ve now enabled free instant orders for the investors who have earnt a lifetime Alpha subscription. You’ll receive this as:
- A round 3 investor who earnt Alpha for life, by investing £5,000+
- A round 2 investor who earnt premium trades for free, by investing £1,000+
- A round 1 investor who will always get our paid premium services for free, by investing £1,000+
We’ll also be refunding all commission paid so far, and will send an email shortly to everyone who’s eligible to let you know as soon as we’ve refunded any fees.
We have made this update in our backend systems, but while we’re working on updating the app you’ll still see the £1 instant order fee when you place the trade. But when your order is complete, you’ll see £0 commission on the contract note. Until we’ve updated the app you won’t be able to place a free instant order worth less than £1 in total.
You’ll also see an Alpha badge on your profile soon, check out the sneak peek here.
If you earned a month of free Alpha, we haven’t forgotten you, we’ll share an update about our plans for this soon.
Woo hoo. thanks Rob for the update. Very excited to see Alpha start happening (both for investors, and for Freetrade to make more money).
Is this effective immediately (the instant order fee)?
Is the instant order fee 0 for UK and US stocks with Alpha?
So to get Alpha you need to deposit £1k or have £1k in your portfolio?
No, it’s available for those who invested £1000 in either the first 2 rounds of crowdfunding or £5000 in the last one
Yep, if you qualify it’s effective immediately (we actually turned it on yesterday!), and the zero commission rate is for both US and UK trades
This is worth a particular highlight since it used to be US for free and UK for 50p. Both being free is a massive positive change
I am not entirely sure exactly how things were as I cannot find the post, but I remember the first 100 Freetrade users getting free alpha as well?
I do not think such information has ever been shared. There was, on the other hand, a thing where the first 100 users who downloaded the app got the access bypassing the queue regardless of their position in it.
Nice. I now look forward to this coming online.
I’ll send you a DM.
Brilliant news all. Looking forward to the shimmering alpha badge.
I believe I qualify for free alpha having put £1000 in at R2, but it still shows £1 commission in a contract note for a trade I’ve just done.
Is this because I’ve changed my email address?