Customer service and trade execution

Hi there,

I am really impressed with the app and the community so far. People are helping one another and offering guidance where incorrect information is submitted. I currently use HL for all my funds, index and bond. I use Interactive Investor for my stocks. I currently have a decent holding with Interactive Investor, above 20k and pay 20 pounds per months for their top subscription package.

I have been impressed with the customer service for both HL and Interactive Investor. They have always been available when I have tried to get in contact and before a property purchase I cleared all my fund once with HL and had no problems.

I have two questions, are there any plans for a phone service? I am 29 and probably sound old but I don’t always like to use text chat, especially when it is my investment on the line. For those who have used customer service, how is it?

Finally, when I have purchased stocks with HL, I try not to as they are overpriced, I get the best market value for the stock. Has anyone compared this with free trade and seen the difference in prices quoted. I know market price is always changing but I would rather invest in a platform that gives the best price, not one that is delayed, for a fair fee.

Finally, happy to transfer some money here to support I just don’t feel comfortable committing a lot. In addition, the platform is in its infancy and needs a lot of work but like they say, Rome wasn’t built in a day.

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Well why not open an account and try and buy stocks with HL and freetrade (using the £1 instant ordering) and then compare? I object to 12 quid a trade. It’s why HL is a FTSE 100 company.

Not sure why you want a phone service. Your investment your risk. Dont think its wise for Freetrade to go down the financial advice route

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I completely agree with you and I hate HL fees for stock. It is robbery. In terms of phone service, if is just for getting in contact and having someone at the end of the line. Nothing related to financial service etc. Not a good example but I have used Etoro before and had issues with withdrawal and it was a nightmare going by live chat each time, waiting and not getting a proper answer.

As far as I know, Monzo (as a more mature fintech) only fairly recently added a call centre in Cardiff, so it’s unlikely to be something coming soon at Freetrade.

There’s a view that if you build a intuitive product which works well then there’s a much lower need to get in contact. However I’ve contacted Freetrade for a few things and they’ve been fast to respond, even over the weekend (there’s potential for growing pains as it scales but it’s been good so far). Chat seems lighter and faster than emailing and more casual than a phone call, so can do at your desk.

I think it might be cheaper to do the other way round (or doing all with II) as HL also charges percentage fee for funds (0.45%), whereas II is only flat fees.

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Thanks Rob. I appreciate the comment. I have started to slowly add very small amounts and test out the platform. You are right about pricing and because I have had my HL account for over ten years, I have been used to it. In some cases they do offer better deals for certain funds.

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