And thatās probably the number 1 reason I am not buying iPhones anymore and that Iāve been living in the sad sad world of Android UX for the past few years
That is a great idea. Subtle but impactful.
If FT decides to stick with fractional purchase I think number of shares should be ditched all together.
When customers look at their portfolios the decimals donāt make sense anymore. The only thing that matters is $ value
This is only if FT will not allow to purchase whole shares
Apologies, but this is madness for shares. I could possibly agree when applied to ETF units, maybe even cost averaging approaches, but for the most part not individual stocks. Youāre literally just saying price/value doesnāt matter.
I might have explained badly.
If I purchase Tesla today for 2$. Seeing ā0.0025 Shareā is making me cringe from the UI perspective.
I would like to be able to hide this info and keep only the $ value of the holdings. It might be just a question of habits and getting used to seeing fractions.
Price/share does matter.
Great feedback. The product team is aware of it.
Sorry @szb I misinterpreted
No they were ridiculed (and still are) for imposing their specific connection the lightning connector or whatever its called.
Most phones these days standardise on USB-C (a global standard not a specific manufacturer standard)
You buy some USB-c headphones you can use them on any device with USB-c. You buy apple connector ones you can only use them on iphones/ipads etc.
Everyone is different, personally I couldnāt care less if I ended up with a fraction more. At the same time I donāt think giving people the option to buy a certain amount or buy a specific number of shares is a bad call.
It pacifies everyone and gives the product better functionality.
Not really a comparable analogy. Closer would have been Apple removing the possibility of making voice calls from the iPhone (I know they didnāt but it is that sort of core feature weāre discussing not how you access a side feature).
Tech disruption is great until the point it goes too far. Whether we or FT like it the stock market is predicated on shares rather than cash amounts. Logically it doesnāt matter whether those shares are whole or fractional except that the rest of the market offers and works on whole shares whilst some also offer fractionals as well not instead of wholes shares. That may be inconvenient or not ideal but it is the reality - thereās no point in us pretending otherwise.
If you own enough of a company, number of shares certainly matter. Disclosure requirements, mandatory takeover offers etc.
Personally, Iām about to launch a takeover with my holdings held using FT.
Chris Skinnerās book: Doing Digital. (Think whole shares and paper share certificates)
The world is moving to Digital Assets, Neo-Brokers are moving there and Crypto is already there because theyāve started from scratch e.g. 0.13438128 bitcoin (Ā£1,000). Freetrade is a new company in the old world of Finance, which is radically changing.
Probably an overused saying from Hockey, but should they skate to the puck? Or skate to where the puck is going?
thatās an odd one, since macs use the USB-C connection. Iāve always wondered why IPhones donāt.
Yeah it is weird to be honest, whatās more surprising is that their newer models of phones and ipad still havenāt adopted it. Apple for youā¦
Depends on the traction the Puck has no? Slow moving Puck due to poor ice compared to fast moving Puck due to smooth iceā¦ (nitpicking I know)
None the less, Crypto is that way because it canāt be expanded on. If a company dilutes their shares the shares are worth less but there are more of themā¦ The same cannot be done with crypto, do achieve this you have to fork the crypto essentially making new cryptoā¦ Which will have a different value die to there being more. Think bitcoin, bitcoin gold, bitcoin cash etc.
The difference is that in this situation the options are not mutually exclusive. It is possible to allow purchases by shares and by value.
Also, in banking the liquidity difference between Ā£1 vs Ā£0.01 is no where near as great as the difference between 1 share vs 0.01 shares
Apple didnāt become a trillion dollar company by standardising on one consistent peripheral connection that remains constant through the yearsā¦ Both smart and sneaky in equal measure.
Have you noticed how Appleās own cables fall apart quite quickly tooā¦? (And cost far more than they should to replace).
I read this whole thread and at first I agreed with many of the concerns. However, after reading the full thing I realised none of these concerns actually had any substantive consequence.
This main issue seems to be FreeTrade being able to communicate their features in a simple manner. During full release, I assume youāll release an in-app message. Iād recommend covering your response to these concerns in this message.
The concern of how exactly Freetrade will manage transfer out requests and simultaneously support fractional shares has substantive consequence. Depending on how Freetrade decide to manage this it could be smooth sailing for the customer or it could be a massive ball-ache.
Is that a real issue though ? How often do you transfer shares from one bank to the next ?
I have been investing for the past 20 years or so. It happened to me once.
As the late John Bain aka Totalbiscuit used to say ābeta is betaā - the product isnāt finished, thatās the point of a beta. I donāt think itās fair to say Freetrade arenāt communicating well enough when they are testing and asking for feedback on a feature that hasnāt been released yet.