Want expecting the free version to become a worse proposition. Losing access to about 10 stocks that I like.
I do agree with the pricing, I wouldnāt mind paying Ā£5-Ā£6pm (especially as I currently have no use for the ISA).
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Iām hearing alot of good points on this thread, both critical and positive on certain moves and addition of new stocks.
Iām sure the freetrade team are taking note even if they are slightly quiet on the responses. Me personally, I think this is probably the best way forward on balance, little concern over certain future ipoās that might attract people over and then quickly put them off if the fee point isnāt managed properly to make it clear what is still available on free but I do firmly believe that those customers who have supported freetrade in their early days should benefit from being able to continue to buy the shares they already hold even if they go behind the pay wall.
Iām not a developer, so I can probably guess this isnāt at all straight forward on the engineering side but just my opinion and would garner more of that respect that I know alot of the community have for the openness and progress so far that freetrade have made.
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I have had an II account for many years and it shows giving one free trade a month for Ā£9.99 and 7.99 after that even on the new charge schedule.- cannot see 30 free trades per month. Do you know which package that is shown on?
Just checked, itās actually x25 trades a month free. Think you can get it in any account as part of their regular investing option. As mentioned earlier this is at a set date each month rather instantaneous trading
Thereās nothing stopping you from dealing with shares you already own, ie you can hold or sell.
You just canāt buy new ones if they are pay-walled, unless you have Plus.
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Yeah I get that, I do see where youāre coming from there. Personally I think Freetrade are still in a bit of a chicken and egg stage.
Obviously weāre outside looking in a little bit, but It seems like they dont want to mess around with changing prices at any point. Ā£10 gets you in and thatās that so to speak (presumablyā¦)
I completely understand your decision to not go with Plus, I have mine as well.
I have a SIPP that cant be here, i have an ISA thatās elsewhere as well, despite it having platform fees, its technically cheaper right now.
Even if it was cheaper at Freetrade I still have a chicken and egg issue with them. The app still needs work that id like to see before id be happy having significant amounts of money in it. It needs a website (or proper iPad app), it could really do with report generation and a documents area, lots of bug fixes, and Plus would need to have everything theyāve posted in the announcement. Thats a confidence thing, I know my other brokers work very well and have a mature platform.
But I donāt think price (for me) makes that difference. I still likely wouldnāt pay for it at Ā£6 right now, but im not sure they should reduce the cost. imo, just because it doesnāt quite hit our needs right now doesnāt mean its not right. I do get the frustration though.
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Yeah that could work i would think it would be more difficult technically to implement now but thatās definitely a solution.
I understand that Freetrade needs to make money but to move shares behind a paywall seems a little bit of a low move.
Having select international ones and more niche investments on a premium service makes sense but to take companies out of Freetrade into a plus version is unfair to the people who have invested in them already.
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For me if Iām paying Ā£10 a month itās more about plus whole package. if itās something I got to subscribe to one month then unsubscribe next month I feel that would be inefficient and costly. I may end up missing a lot of buying opportunities when the stock dips and end up buying on highs when I have plus access. It might work for some people but i want to feel if Iām paying for something itās worth it all round and itās not out of inconvenience that I have to add to a position in my portfolio.
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Thanks - cannot see that listed anywhere on the site or the rate card. Waiting to move everything to FT but some stocks require nationality declarations and think II will only allow a bulk transfer of all holdings.
The more "Free"Trade matures, the less I like it. The Free isnāt free, and the Trade has opaque prices. No more inflows from me. Iāll close at leisure and move elsewhere.
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Really dispointed with this, to take back a availability is really not fair, iv got half mine in that list, so you give and then take back, EVIL,
So your not NO COM your liers
Thanks alot very upset
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No ones taken your stocks
I can see the disappointment and understand it for those who will not to take Plus. However, you wonāt have to sell, you just wonāt be able to buy more.
Could it be worth subscribing to plus for a month once or twice a year to buy all the ones you want?
Maybe FT could think about a small charge for a plus stock for those not on plus? I donāt know - maybe Ā£2 a share if you wish to make a purchase for a plus share? Could this be a good trade off?
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While I can appreciate simplifying the availability of stocks down to specific indexes, I feel thatās going to confuse novice investors. Just look at the list of stocks being moved from free to behind the paywall, these include some well known companies (Halfords, Purplebricks, Restaurant Group, etc). If I were new to investing and noticed that these were behind a paywall, Iād probably bypass FT altogether.
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FT has access to vast amounts of user data and secondary data from other sources which may inform the team of certain stocks that aline with their mission. If youāre displeased with FTās decision, its cause you know more about investing then the average individual. FT want to reduce the risk of their users loosing money and separate the more informed with the Plus account. You canāt please everyone in life and after all FT is still a very young company at the end of the day.
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Yes I understand that,
But to rescrict access to purchasing stocks I have already built a postion on is unfair,
One should not give with one hand and take witht the other
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Disappointing to see the decision to split stocks between ābasicā and āplusā (and presume ETFs to soon follow that course too). Whilst I get that you want to introduce a paying version to generate revenue, suddenly locking out existing users and forcing them to either move to plus or now only āhold/sellā their stocks seems very underhand.
Also, I think you have pitched the cost of plus service too high. When you start charging Ā£9.99 a month / Ā£120 a year for your service, you lose your USP and put yourself in the same league as the other premium platform providers. However many of the features that they offer freetrade doesnāt yet have and whilst you plan to introduce some of them, items such as ālimit ordersā and āstop lossesā should be basic features for all users anyway, not just plus users. If the cost was less, such a Ā£3-Ā£5 a month, I might have considered it more as a gesture to support freetrade than to access additional features/stocks (which I think should be available to all users anyway), but when itās Ā£9.99 I would just prefer to use one of the other established platform providers. Sorry.
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Hey Richard. Can understand your frustration, but to balance your view FT has also gone the opposite way for its customers in its history (instant trades were not free last year)
If the Plus stocks are allowed to be traded for a small fee (Ā£1 per trade e.g.) and you wonāt have to get a subscription, does it seem like a good compromise between your interests and the FTās to you?
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Yes I suppose that would be a very sensible compromise.
Separately, I would be interested to know how FT are choosing what stocks (and ETFs?) constitute Plus, whilst others remain available on basic.
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