The biggest problem with the current system is that it’s not giving people a correct outlook on what their profit/loss is. If you buy shares and then sell them in their entirety, it will work fine, but if you ever sell some of the shares, then it will recalculate your average price again, and then start to give incorrect numbers.
For example, if you buy 10 shares at £10 each, your break even price (BEP) would be £10. Later on, the price drops to £5 each, you then decide to buy another 10 to average down your BEP to £7.50. At this point, Freetrade will correctly show that your average share price is £7.50.
Now, if the share price rises to £7.50, you might decide to sell 10 shares, at this point, you’re not making a profit, you are breaking even. Once you sell these 10 shares, however, Freetrade will then recalculate your average share price using FIFO, so it will look at it as you sold the 10 shares that were £10 each, and now all you have left is the 10 shares that cost £5, so it will say your average share price is now £5, instead of £7.50, and thus indicate to you that you now have a 50% profit while the share price sits at £7.50, even though you don’t have a profit at all - you’re sitting exactly on the break even point.
I find it substantially concerning that this has never been addressed, I’m bordering on moving my entire portfolio elsewhere, as this isn’t really a “nice to have” in my opinion - it’s a necessity.