I agree they shouldn’t do it for IPOs, but it’d probably be fine to test out new markets on alpha users first and might encourage uptake.
Reminder of relevant answers on Adams AMA on 12th May…
The day freetrade just start copying exactly what another platform does and didn’t try and pioneer their own innovative features. That will be a sad day. I’m for freetrade finding their own unique solution in solving problems in a superior way. That’s where I think real values is.
I couldn’t disagree more,the day Freetrade doesn’t look to be the best and offer the best no matter how they acquire the ideas will be an even sadder day.
Just to add,the product and use is exceptionally good you allocate say £100 a month in 5 shares and you can allocate a % to each share example 30% to Apple/20% Tesla/ 20% Alphabet/ 20% Twitter/ 10% Microsoft Total 100% It is brilliant and you can automatically invest dividends. I love it
But why pay for all these wish list options above when you can get most of them free with other brokers… looking forward to see what value Alpha offers though hope for something truly different to add the hook for their platform as currently not sure what it is. All it would take Is for a big US broker to enter UK as well soon and it will be very competitive space.
Well that US broker sent out an email two days go about the UK launch that was meant to be a few months ago with a watch this space, so I can’t imagine it will be too long. I dont know if they can compete with T, but I’m signed up to get early access.
Ben, who is your no.1?!
I love the auto invest pie idea, if they did implement somthing like that I hope they would allow multiple pies,
I think I’d rather see autoinvest be a more automated thing, for those who are not sure what to buy when they first start.
I’m not convinced most people (including myself) are best-served by an emphasis on picking stocks, as most people don’t have the fortitude to watch losses mount in perfectly good investments and do nothing about it except buy some more, or mistake a pick going up by 100% for their own genius. They’ll also tend to attribute wins to their own skill and losses to an unpredictable or unfair market. We all do these things to some extent, and picking individual stocks is fun, and sometimes rewarding, but the average user is not going to be able to pick a basket of very diversified stocks that’ll give them a return and still be reasonably safe. They may well pick some stocks that give a much better return than the index over a few years, but are unlikely to do it over the long term.
Better to let people invest in individual stocks if they want to, but guide them towards investing in an index every month and doing nothing. The investing monthly over years bit is the bit which will make them money, not the particular stocks they buy, and most would be better just to buy all the stocks.
Here is what I would like to see:
- 0% FX rate
- Trading on unsettled funds
- More order types (Limit, GTC Limit, Stop Loss)
- Early access to new listings
- Price alerts
- Priority support
You can already trade on unsettled funds can’t you?
I assumed we couldn’t. I’ve seen other brokers advertise this as a feature though so I’m not sure how common it is. Will have to try it next time I sell something.
@petebu yes you can trade on them.
I was certain you could but never like to put my foot in so thanks @Rollingskies for confirming.
Someone else who deals in ETFs might confirm that same is true with them too. I know HL also allows instant for shares but delays reinvesting for several days for funds
One wishlist feature I forgot:
- No £9900 limit on trades
I think a trade over £10,000 opens you up to stricter Anti money laundering rules and regulations. This doesn’t mean it can’t be done, but it’s probably the reason for that limit
I’ve not come across AML checks before on trades (only when funding an account).
I suspect the real reason is that a trade over £10k does mean a £1 PTM levy (on UK stocks) and FT didn’t want to introduce that complexity into their system. It also means more complexity in the app (some kind of prompt or warning) so it wouldn’t be as friendly for beginners.