Yeah, could be that as well
Freetrade should partner with TransferWise to offer currency accounts. Definitely worth paying for.
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Thatâs some serious money!
The top 1 feature I am waiting for is limit buy order.
This would solve a problem of real time price updates and allow me to have peace of mind that I will get a stock at a price I want if the opportunity creates itself without monitoring notifications.
The top 2 feature I am waiting for is web interface
Gives you a peace of mind that if something happens with your phone you can still do stuff.
The top 3 feature I am waiting for is dividend tracking and forecast
Fairly self-explanatory but this is the kind of thing that makes any wannabe dividend investor learn a freaking excel or pay someone to do it.
This last one is the easiest to monetise since a bunch of people are paying for it already.
That is aside from bug fixes like fast processing of standing orders and standing orders reflecting in top up history.
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I understand wanting to keep it simple for people, and i think a simple verson containing etfs could easily be made available for none plus members, as plus is aimed at more advanced people, plus members could be allowed to build their own auto investment pies.
I know Adam mentioned that some stocks could be behind an Alpha paywall. I canât stress enough how against this idea I am.
If youâre doing because youâre worried about scaring new users, I believe the discover page could be optimised for beginner users instead. You can have familiar stocks and easy to understand ETFs displayed (and explained, if needed) and simply have a âview allâ at the bottom of the page (like there currently is) to lead to the whole available universe
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Lot of things listed here are on T that I would like to see here:
Many thousands of stocks and ETFs
Web interface
Limit and Stops
Better charts
Price alerts
The only thing I canât have (yet) is trailing stops in a long position within the invest/ISA.
So if you can do those and trailing stops you have my interest.
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Top one for me and will keep on shouting about it - multi currency accounts.
Would definetely pay premium for this.
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Lots of great ideas here, freetrade will no doubt be trying to weigh up everything before this ships, such as thd value add proposition.
Iâd hope theyâre able to do limited testing with some customers to gauge interest with whatâs in and whatâs not included with alpha/plus. So as to try and avoid any bad press by competitors who clearly will use any means to make a bad story where one may not actually be.
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Itâs good for the team to have a good read of this thread. This is what people want or expect for the money. Robinhood must be a few weeks away from launch. Youd imagine some of their 250 million they raised will make them grow very fast indeed if they even just spent 10% on advertising. I kinda feel every week they donât launch is just a huge gift in time, users, revenue and is another layer of armour in our survival to FT.
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What are Robinhoodâs plans for the U.K does anyone know? Will they only have US stocks to start with? And will they have an ISA? Thatâs important because in the U.K. people do tend to have a home bias when investing for some reason.
It is a common output of research that almost every person over invests in their own domestic market. This is partly explained by currency risk but also by brand familiarity.
That makes sense. Although there are ways to mitigate currency risk through hedging if youâre worried about that.
@LewisHarding it looks like they will launch with US and UK stocks and FCA protection along with a premium account. I havenât dug into them too far as I am already on two platforms and see little benefit in adding a third unless they provide something truly unique. I think its important for us to remember that Freetrade are surviving and flourishing despite the competition from other brokers like T212 etc, and some of the funds raised in the last round will be put towards marketing if I remember - presumably the launch of Alpha will happen and that will be used for publicity and awareness raising I hope.
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Has there been any mention of options?
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Probably best to start a separate thread if you want to discuss Robinhood - unless Iâve misunderstood and you mean options in the Alpha account?
I meant either or really⊠just curious as to whether options trading is going to become cheaper and more prevalent in the UK.
I donât think FT is keen, and Iâm not sure they are suitable for the market FT is targeting - while useful if you know what youâre doing they are too dangerous and not useful enough to retail investors to justify that. Theyâd also probably be quite complex to handle in the app (so lots of work), and cause more support load too.
See the recent Robinhood suicide for an example of the extreme situations they can put retail investors in. There are so many other areas Freetrade could look at first (limit orders, SIPPs, JISAs, other markets).
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Ah okay I had not seen this so thanks. It seems a shame as options are a perfectly valid form of portfolio insurance and a cheap way to bet big on certain stocks. I donât abide the argument that options are dangerous whilst at the same time listing shares like Nikola or some of the AIM stocks but I guess that is Freetradeâs discretion.
The Robinhood story seems to have more to do with the interface, which is something Freetrade could still learn from, rather than representing an actual loss incurred by the individual. However, it is just an incredibly tragic story which we will really never know, nor should we ever know, the details of.
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Options can potentially be more dangerous than highly volatile stocks. If you allow selling calls for example, that puts you on the hook to buy the underlying share whatever the price, which may be more than you have in the account. So you are effectively trading on margin which I think Freetrade wanted to avoid.
If you only allow buying options not selling you donât get the benefit of the various hedging strategies you can use them for
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