There is no trade fee. The instant trades are now free and have been for months.
I have an account for etoro. Its attraction is copying element and its leverage.
FT seeks to distance itself from betting on stocks where 75% lose money to a place everyone should have their ISA sipp (pensions by end of year). I see Etoro a bit like the gambling sites where you can start with free bets. I think Freetrade offer a great service. Does etoro do isas?
I thought when I signed up last year it was 25$ to withdraw unless they dropped it. I also paid fx feesā¦
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I honestly donāt care much about ISA unless you are investing Ā£20,000 every year into it from a General investment perspective with the dividends tax capped at Ā£2K and capital gains capped at Ā£12K every year itās unlikely the avg investor would exceed that .
Rather put excess money into a pension pot and earn the excess 25% top up from HMRC .
I am sorry maybe I misunderstood your post itās still tells me here on FT if I want my trades instantly then I have to pay Ā£1 per trade plus stamp duty and if it is US trades then I pay the forex fees on eToro the trades are initiated instantly and minimum trade value is $50 (which is the only downside compared to FT but not a deal breaker ) irrespective of US or UK stocks.
Withdrawal is flat $5 now
There is no trade fee anymore, itās free for instant trades now.
There is no withdrawal fee on Freetrade.
FT need to do a clean up of google searches because when I signed up in March (I canāt believe I hadnāt found commission free trading before!) there were still loads of reviews explaining the Ā£1 fee structure and it almost put me off !
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Its beyond bizarre that you clearly havenāt used the Freetrade app yet have signed up to the forum. If you had tried the app you would find instant trades for free, no withdrawal cost.Stamp Duty is a tax and has to be paid, if another broker wants to pay that short term to attract customers then so be it, but they wont do that forever - its a clear loss leading tactic that they will have to abandon for their profitability eventually. Minimum on Freetrade is also Ā£2 compared to the much higher minimum on eToro
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I think the Ā£2 minimum is too low.
Iām really pleased they introduced this because otherwise it leads to unhealthy investing habits having such low minimums.
I really like Freetrade but I am concerned at their lack of UK stocks.
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I am just clarifying before I actually put real money in to it there is nothing wrong with that approach then diving into something without Getting enough clarification!
Me thinks some people get quite bored and love to spread misinformation to promote theyāre own platform. Bit obvious that one though.
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@ AJ1684
Nothing wrong with clarifying - but your stating incorrect facts, rather then asking questions.
Freetrades method of making money is clear.
Ā£3 monthly charge on the ISA account.
Interest on any cash held in app.
Plus account (soon to be added) I believe that will be Ā£9.99 a month.
If you disagree with the ISA by all means use the general account only, I started that way then moved into the ISA - if you google the number of ISA account holders in the UK you will be pleasantly surprised by the numbers. Also, starting out you may be no where near the Capital Gains tax limit, but the dividend tax limit is only Ā£2k and both are easy to reach within a few years compounding interest and investments with even a small investment portfolio.
250 stocks are being added shortly, and Freetrade are moving to a model of adding stocks each week as well. They have been focused on building their own infrastructure recently, now that is done they are clearly focusing on expanding the stock universe and building out to wider European markets as well.
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