Concerned About Slow Addition of Stocks

Hi Freetrade,

I’m a freetrade user and have been using it since June. I am a bit concerned as they have promised a faster approach to get more stocks available in the app both free and premium users but I have not seen a lot. Companies such as nano dimension and mohawk group which I have put in as a stock request since Sept approx have not been added at all. It is concerning to me as now, I am thinking of transferring to Trading 212 if there is no further update to this. Companies such as Nano Dimension, Riot Blockchain,Atomera, and now the recent Bio Nano have been on my watchlist and have been patiently waiting for them to appear on Freetrade. However, they’ve all skyrocketed now and still not on the list. Is there any update soon? Please keep us informed as it has been quiet the past month aside from the newly IPO’d companies.

12 Likes

They’ve said there’s a big batch coming, it seems like they’ve really shut down for Christmas, not a lot happening the past two weeks. Agreed its been slow recently but they did expand massively in 2020, went from 600 to 3000+ I think I read.

3 Likes

It can always be faster, but I’m not sure where you’ve been? I think they’ve added companies every month for the past several months.

Christmas was slow as you’d expect. Though a number of spacs appeared.

If you were wanting to buy these I’m confused as to why you wouldn’t have bought them in HL assuming you were buying for the spike?

If you do I hope you have more luck than everyone else actually executing a trade :smiley:

8 Likes

The idea that FT have been quiet or not been adding stocks is baffling to me, it’s been non-stop the past few months! I have barely started doing research on one set when a new set turn up :laughing:

7 Likes

Nope,not really a trade but investment wise, nice to get in early for a long term investment in a company you’ve found to have potential, requested it in Sept yet still have no appearance on the app despite people upvoting it. And what is that about HL? I don’t have an account with them lol
Anyhow, this post was not to bash freetrade as I am using it, it’s just to highlight that there are some companies which requested for months but haven’t been added. I’m only wondering why. So please, don’t get all defensive as I’d only want this app to get better like we all do.

1 Like

Just if you have a company in mind waiting for Freetrade to add it isn’t always the best option. Nothing wrong with investing via HL or similar, you can have as many GIAs as you like after all. (What is it about HL, there’s well established and have good terms, a decent platform for long term investments)

As for why it’s not on Freetrade I expect it’s about prioritisation, only so many hours in the day I suppose they may have a list somewhere they work through.

Agree with Champking on this. Even when Freetrade do add more niche names, it’s usually way too late. Take GRWG for example - it took them months to add it, by which time the price had already run up hugely.

I like the convenience of FT, but also opened an IBKR account so I can take advantage of all the names FT doesn’t have.

4 Likes

Hey @champking, hope you’ve been enjoying your app so far!

Adding new stocks is one of our top priorities and we’ve been busy adding as many as we can, as soon as we can — taking into account and prioritising community requests where possible.

Last year, we added literally thousands of new stocks and ETFs, taking the no. in the universe to around 4,000:

Two week’s ago, we added a big batch of 120 US REITs, many of which are big names in the S&P 500:

And just last week, during the holidays in fact when most of the team were off and stock additions were technically difficult to deploy, we added a batch of SPACs as soon as they became available to use through our US partner:

We’re always reading requests from the community, and we appreciate it’s frustrating when we can’t add a stock you’re after as fast as we’d all like. Sometimes this can for technical reasons, e.g. natdec, or because the security isn’t available to us through our US partner.

But rest assured, we’re doing all we can and we aim to add thousands more this year, too!

16 Likes

Hi Sam, I’m just wondering if – in the event there is an expected delay due to whatever reason – this could be added to the thread for that stock request, so as to avoid the continued “why is this not being added when we’re voting for it” posts? Just for the sake of clarity.

2 Likes

Hey Tony, yes, it’s for this reason that we don’t usually offer dates and timescales unless we know that it’s going to be possible.

Where there is a commitment made, and this isn’t met for whatever reason, we’ll do our best to update the threads and keep everyone as up to date as possible!

3 Likes

BNGO was requested a week ago when it was $1.5. It’s $6 now.
I had to use your competitor to buy it, quardruppled my non-isa portfolio with them in a week and it’s expected to keep growing for years to come. Now I’ll have to pay capital tax gains with them because my ISA is with you.

I hope you realise just how big of a problem that is. For me personally — i don’t care about any features or lack of thereof if it’s impossible to buy stocks I want to buy.

8 Likes

I understand why you re annoyed but do you not think you have somewhat unrealistic expectations?

It seems you want an a la carte approach to buying stocks.

Ultimately I gather there are 300,000 users now and so everyone will be interested and requesting different stocks. It’s not really feasible for them to please everyone quickly especially over Christmas with all the bank holidays. The nature of things is if a stock is rising rapidly you’ll miss out of gainz by the time it gets added.

Things are evolving quite rapidly imo. There’s many many more stocks now than there was 6 months ago and I’m sure they’ll be many many more in 3 months, 6 months, and in 2 years this won’t be a problem.

There’s only been 3 full working days since the request was made at a notoriously busy time of year. Give them a bit of slack.

9 Likes

I don’t really get this mentality: I am spending my own time to provide free constructive feedback. How is giving “a bit of a slack” helpful to anyone?

5 Likes

I suppose our expectations of what is achievable in a particular time frame misalign.

It might be helpful to you as you may not see so many things in life as ‘big problems’ when realistic there’s no why freetrade can please everyone quickly with new stock additions.

You make it sound like you should be charging for your feedback :pleading_face:

1 Like

Hey everyone, just a quick reminder of the rule 1 of the community: be kind and helpful.

Nano Dimension is in the next batch coming this week, we are pushing to get BNGO through our US partner, we’ll check the status of Riot Blockchain and Atomera.

Of the recent popular requests, GAXY is unfortunately an OTC stock.

We are working as hard as we can to get new stocks online for you. We want to go even faster, but please give us a little time to rev up to the speed where we’d like to be.

We are at a good pace with IPOs (adding them virtually as soon as they are publicly available), and we have aggressive plans for 2021.

28 Likes

Nice :ok_hand:

I’m in total agreement here. Adding existing and new SPACs and other companies have been terribly slow. This needs to be done faster and more efficiently. I’ve been having the same problem as everyone and waiting endlessly. I’ve been looking into Trading 212 myself and they don’t even charge anything on ISA either. Freetrade needs to really compete.

2 Likes

Yes but not the ones we are asking for!

1 Like

We don’t always get what we want. It’s an important life lesson.

3 Likes

Apples to oranges really when comparing Freetrade with a company that was established 15+ years ago.

Moreover, they’re very two different companies with different philosophies when it comes to making investments available for everyone.

The other company discussed here makes their revenue and profit from CFDs where the majority lose money.

2 Likes