Alpha content predictions

Iā€™m just not aware of many (any?) brokers doing that and that obviously would put a strain on finances for freetrade at this stage. Maybe in the future once profitable?

Thatā€™s quite a good idea for something they could charge a fee for, withdraw for free if you wait for settlement, pay a small % fee if you want instant withdrawal

3 Likes

Yeah it would be decent. At the moment I have a few thousand invested in stocks in my basic account which I built up from last year as I had already opened an Isa account with another broker who charges crazy money for transactions. So I just invested with freetrade in the basic account. But now I have to go through the hassle of selling my shares waiting 3 days to settle and another two days to transfer into my bank account and then send the money back into my Isa account. I think a lot of people are in the same position when it comes to a new Isa year and you want to transfer as much funds built up in the basic back to the isa.

Also in the scenario you have made some money and sell out. You want to spend the money that weekend your goosed as you will have to wait till the following Monday at.least between the settlement period and the bank transfer. Least if it was just the time for bank transfer it would only be 2 days.

I would hope that niche markets would be on Plus, but that less popular stocks in core markets - UK and USA - are not put behind a paywall.

I know that @adam and @Viktor have mentioned something along the lines of - ā€˜it wonā€™t have everything to start with, but it will keep getting betterā€™. There is a danger that if the product is underwhelming on first release it could do far more damage than the delay of waiting a little longer and rolling out a product that is truly compelling for the target audience.

I am confident in the FT team though, they do a great job of setting out the vision for making investing accessible and my friends and partner who have started to use it all love it. I also like that there is a moral stance behind the kind of positive habits they are trying to build - ie, no options, CFDs, etcā€¦ as we have seen the damage these can do.

Would be great to see more detail in terms of info in the plus version. As @Rollingskies says - Stops, limits and live pricing are key. Pushed price alerts would be great too. Faster deposits should be for all as they are a barrier to more business being done on FT at the moment. Maybe free lifetime Applepay, etcā€¦ on Plus would be good, but transfers in do need to be faster for all than they are now regardless - something the team have acknowledged (I think Duncan alluded to it in the AMA the other week).

Personally seeing niche markets like NZ exchange and OZ, Korean, etcā€¦ would be great too (along with an NZ launch one day - my family there are always saying how great Freetrade sounds!!).

4 Likes

I did that when I got a fresh ISA allowance this year. Took me a couple of weeks to transfer stuff across from the basic. I sold a couple of grands worth in the basic and rebought in the ISA the same day with spare cash so that I got them at the same price, but then had to wait a few days before I could do the same again because I didnā€™t have enough spare cash lying around to do the whole lot that way. If I could have paid a small fee for an instant withdrawal I probably would have

As you say, I donā€™t think that should be a priority for Freetrade but HSBC InvestDirect Plus do something similar among others.

2 Likes

I had to something similar. It would be good to able to transfer shares directly from the basic account to the ISA account tbh

1 Like

This isnā€™t allowed under HMRC rules.

1 Like

You kind of can and can vote here

Freetrade could automate a transfer from basic to ISA, and no HMRC rule prevents that
(If less than 20000 and the shares are isa eligible)

https://community.freetrade.io/t/bed-isa/5960/3

Yes, you can bed and ISA but the share transactions have to take place on a stock exchange - so you canā€™t avoid any spreadā€¦ even if the transactions are commission free

Yes obviously still some spread but would make moving things to an ISA easier

1 Like

Iā€™d love one of the FT team to chip in with their Alpha content wishlist/predictions :wink:

6 Likes

Iā€™d like to buy Chinese stocks in a ISA account.

That is nothing to do with Freetrade but rules set down by HMRC.

1 Like

Welcome to July everyone, the month Alpha accounts are released. :tada::confetti_ball::slightly_smiling_face:

5 Likes

Any deadline Freetrade set, just add 3 months to it - I find it avoids disappointment!
SIPPS for example I imagine will be released around Christmas, (not September!). Hopefully weā€™ll hear about Plus soon, I just really want to know what features it will have at launch.

5 Likes

Have we got an more accurate ETA yet? Freetrade is starting to feel very stale to me in terms of features and really considering moving to 212.

1 Like

Saw a comment the other day from the team saying FT staff are testing it, so assume itā€™s not far away now? :man_shrugging:t3:

1 Like

Seriously?

Freetrade have added just short of 1,000 new stocks and over 250 funds over the course of the last few months - and itā€™s feeling stale?!

1 Like

Iā€™ve experienced 212. Never again. There are some good equivalents but 212 isā€™ t one in my opinion.

1 Like