Does it matter? Freetrade are here to provide us access to the market. Not to protect us.
I think there should be a level of responsibility to protect new investors.
It’s unfortunate people got caught by Debenhams, I truly feel for them as I have myself bought some real stinkers in the past and lost plenty of cash.
But people need to look before they leap and do some research, even a little. e.g. as you mentioned a sudden sp drop is a big warning (though it hasn’t encouraged me to sell my Sound shares … so I might get burned again)
That could be construed as investment advice.
Imagine if Freetrade restricted access to stocks they considered volatile like Debenhams? I want to buy it cheap because I think it’ll rocket up. I can’t because I’m being protected?
I don’t have time to monitor this conversations, reply to accusations or explain our obligations at the moment so I’m going to close this conversation until tomorrow.
Needless to say we want to ensure that our customers aren’t exposed to unreasonable risk which is why we’ve decided not to offer functionality like leverage for example.
Hopefully a break will give people time to cool down too. I’ll follow up with anyone who wants to discuss this further then.
No stock is a guarantee success, be it FTSE 100 or AIM. Personally, I’d love to see AIM on Freetrade, people need to do their own research, this isn’t a get rich quick scheme.
Thanks for all the help Freetrade regarding DEB, being quite new, I wasn’t sure if I’d get the cash back, good to know I will at some point!
I think the amount Freetrades tries to educate people on the risks is enough.
This a free trading area in a free market. Not a toddlers group. We don’t need to be told which shares we are allowed to buy. Eventually I would hope every single share will be available on free trade that you could buy on any other established platform.
I invested in Debenhams as a newcomer to Freetrade. Debenhams became my most researched stock in the time I held it as I knew it was either going to get supported by Sports Direct or (the most likely option) crash and burn. I held out until I saw that it wasn’t going to happen with Mike and I sold on Monday and the legally binding trade completed and I will get back the money invested as stated above.
I learnt more about trading following Debenhams for 2-3 weeks than I had previously. I will use my knowledge gained tracking Debenhams to keep an eye on my other stocks.
has your money turned up yet? Friend of mine who sold shares at the same time as I using a different share platform already has his money. shrug!
Yeah, we call these cases “school fees”.
Hopefully your fees weren’t high, but they’ll prevent some major accidents down the line
Once its a certainty that we won’t get anything back from Debenhams, will the shares be removed from my portfolio?
If that happens then we’ll update you about what will happen next.
Shares have now been delisted of the LSE so does that mean they will get removed from are portfolios soon
While you’re still a shareholder, you’ll still see the shares in your portfolio.
I had no idea that if you sell a share which is close to delisting (but hasn’t delisted yet) you could wait weeks to get money from the sale back.
Learning new thing s every day!