An Honest Critique of FreeTrade

You went out of your way to sign up here just to tell everyone that you’d sold up and left FT. You will be truly missed Matthew, thank you for all of your contributions.

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He has been a member for nearly a year. Whilst many people do not post often, if at all, these people do read the forum and are part of the community.

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Ah fair enough @hrochfor1. Sorry Matthew, just so many shills signing up lately it’s hard to differentiate the real from the fake.

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Agreed, but when you see ‘this is the first time X has posted’ they’ve usually signed up on the day to badmouth FT and praise T212.

I am a customer of both, so I’m not just saying this to fanboy over FT.

You can just click on the logo and see when they signed up rather than making unfounded assertions?

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Great shout, thanks for the feedback.

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Thanks perfectly describing a lot of people. And for info I make direct suggestions to Freetrade via their chat facility

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Ok apology accepted. I am fully active in the investing community on Instagram, regularly sharing my portfolio, bought and sold lists, and sharing my experiences. I have over 2,200 followers and everyday chat with many in DMs and in my posts (@investing_adventure).
All welcome and I enjoy engaging with you all :blush:

I’m not so active on here, as I have my own community on IG, which takes a lot of my time.

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I think my issue is that what is currently free is being moved in

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Could you go into the technical hurdles in a more detailed post? I’m sure it will help with the pressure that’s currently on FT to implement this feature.

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Can anyone help me decide between T212 and FT please, there seems to be some quite knowledgeable people in this post. I’m completely invested in US stocks and recently sold and bought in a short space of time which to my surprise ended up costing me hundreds in FX fees. I maybe naively thought all trades were free on Freetrade.

If I move to T212 it’s going to cost me another few hundred but I have read they offer limits and an ISA all for free as opposed to FT Plus £10/m fee. What’s the catch with 212? Would it be cheaper for me bearing in mind I trade perhaps once or twice a month and solely in US stocks to migrate?

Thanks.

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You don’t expect a ft board to recommend a rival? That’s a red card!

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Short term - may be. Long term - nobody knows

Some context to read about

Type the name of the article in Google to bypass the paywall. Also plenty of info if you search the forum.

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The 0.45% fee is no secret, so should not have come as a surprise (and does it not say it when you place the order?)

You’ve obviously got a choice to make - spend ‘hundreds’ in fx fees just to move to another platform that you may not like, or you could spend ‘hundreds’ (£240) supporting FT Plus for 2 years, giving you your ISA and limit orders now, plus the endless new features being worked on behind the scenes.

If you don’t believe FT will be your platform of choice in 2 years, then moving is probably your best bet


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I’m moving the majority of my funds to T212.

I definitely believe in the long term future of FT, but I need some stocks listed on T212 now and the Pie feature is very useful for me.

See you soon FT.

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Which ones?

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As a user (and investor) of Freetrade, I also found myself earlier in the year reverting to T212 to grab stocks that just weren’t on FT.

I’m not a fan of their UX and I always seem to be getting kicked into their CFD product, not sure why but feels a bit predatory. I like the simplicity and honest of FT, maybe it’s clouded by my (not so large) investment in them.

I can see why T212 is attractive with (from the outside) low fees, and from what I can tell they are profitable/make most of their money from their CFD accounts (against FT ethos), but who knows how much longer they’ll allow that product to fund other users. Here’s something to bear in mind (from their forum):

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My biggest criticism of FT is that it’s slow to add hot stocks / spacs. NNDM, DPHC, Tencent, GPV (green power), Blink, there are loads of overhyped stocks that are STILL not on the platform. I can live with having to pay 1% every time I buy/sell something and even with $10 subscription on top of it but at least let us buy hot spacs that can help make this money back. That is a real deal breaker.

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Freetrade are always going to have to balance the specific requests to list a few individual shares against the current strategy of trying to list more stocks in bulk seeing as they’ve added hundreds and hundreds of stocks over the last few weeks.

With SPACs I think theyre looking at how to list more of those in the future so hopefully will be able to give you what you’re after.

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