Few questions I couldn't find answer


(Matteo) #1

Hi everyone,

I’m new both on the forum and to investing. I read most of the available material but the following questions I couldn’t find answer.

  1. Once the funds are converted to buy US securities the dividends are converted back to £ or can be kept in $ so to be able to use them for other US securities without incurring in further back and forth conversion? Basically is it possible to have multiple currency sitting in the account ready to be deployed?

  2. There are any programs to include AIM listed company? What about other markets like Canada, Hong Kong, etc.?

  3. On the London stock exchange website there is written: “With effect from the start of business on 6 February 2018, Freetrade Limited will become a non-trading member firm of the London Stock Exchange.
    Freetrade Limited will have no direct access to the Exchange’s markets.”

What does it mean exactly? I thought to have understood that you had direct market access, could you please expand a bit?

  1. Besides stocks and ETFs, which other security can be traded example bonds?

  2. You mentioned about offering tools to compare the portfolio to see if is underperforming. Could you please expand more about it?

  3. Would be possible/allowed to move directly some stocks to the ISA or need to be sold first?

  4. How would work for the voting rights of a stock? Some companies offer stocks instead of the equivalent amount of dividends how would it work in this case?

Thank you very much for the attention and I apologize if some questions were already asked and any other mistake done.


(Vladislav Kozub) #2

Welcome to the community and these are indeed very interesting and valid question!

The Team has had an incredibly busy week with a (very) limited app launch for insiders and a round of Crowdfunding, but be assured they will get in touch at some point soon. Some of them are most likely smashed by now (the following is just as of 5 pm):


(Rob Sexton) #3

@Elettric welcome to the forum. In answer to your questions:

Blockquote[quote=“Elettric, post:1, topic:422”]
Once the funds are converted to buy US securities the dividends are converted back to £ or can be kept in $ so to be able to use them for other US securities without incurring in further back and forth conversion? Basically is it possible to have multiple currency sitting in the account ready to be deployed?
[/quote]

When we launch US stocks, all funds will he converted back to GBP, so at that stage you will not be able to reinvest them. However as we develop the service and look to drive down the cost of trading this may be something we look at.

Yes, definitely. We’ll expand our stock universe based on demand, which I’m sure will include some AIM stocks. In terms of markets, first up will be the US, but we want to be as global as possible. Hong Kong is high on our list, and sure @adam will want his home market of Canada on there before long!

Your not the first to see that! It’s actually an out of date notice from the LSE - this is the current one showing us as a trading member: http://www.londonstockexchange.com/exchange/traders-and-brokers/membership/member-firm-information-sheets/member-firm-information-sheets-details.html?issueNumber=2018/041

Just stocks and ETFs initially, but as with the stock universe we’ll look to expand this over time based on demand.

We’re planning to allow you to compare the performance of your portfolio to selected benchmarks, e.g. FTSE100, so you can easily compare the performance of your portfolio against the market, which will help identify underperformance. We have lots of other ideas of how we could help with this as well, which we’ll be working on!

Afraid we’ll only be accepting cash transfers into Freetrade accounts for the time being - another thing we’d love to offer but operationally very challenging so will take some time to deliver.

For voluntary corporate actions, ultimately it’s your stock so you have the right to vote. We’re working on how we can deliver this in a way that is user friendly within the app, but for the time being you’ll have to contact us to exercise your voting rights.

Hope that helps!


AGMs, voting and shareholder benefits
(Matteo) #4

Thank you so much for both your answers! I really appreciate that. @Rob it was very helpful thanks!
I have a last question about the AI assisted trading that was mentioned, if I’m not wrong here on the forum, how would it work?

Congratulations for the extremely successful Crowdcube funding round!


(Daniel Parvaz) #5

@Viktor

Hi, new here. Can you purchase stock in any publicly listed company, or just the majors promoted on the webpage?


(Vladislav Kozub) #6

Not Viktor but my name starts with V too!

Once you are on-boarded, you will be able to buy everything from here, from the first tab for now (UK shares). Once the US stocks are released, you could buy everything from the second tab as well.

If there is something you really desire but it is not offered, just send your suggested company’s name or their stock exchange ticker (given it is LSE, NYSE or NASDAQ) to Freetrade. I have suggested $MU two days ago and it is now already on the list so this definitely works. If it does not, ask @rob_h as he is the guru of explaining why Freetrade cannot offer certain stocks.


(Tommy Lowe) #7

Welcome Xenith, all the available products are currently listed here, you can also request any that aren’t listed via this form. Also check out the Stocks/ETF Requests thread for related conversations :slight_smile:


#8

Hi folks - this may have been covered elsewhere, in which case please point me to it:
Is there any update on limit orders and stop loss orders/notifications of dramatic price changes?

Both instruments to monitor price changes and buy/sell at a specific price are mentioned in the ‘The 10 features most requested by the Freetrade community’ blog post in November and I wondered if there had been any developments on these fronts and/or if an update to the post was in the pipeline?


(Vladislav Kozub) #9

Rob has alluded to them, I assume it incorporates stop loss as well as they are kind of intertwined.


(Viktor) #10

Yes! We’ll follow up and release an open roadmap.


#11

Thanks Viktor, looking forward to an update.
Hi Vlad, I see you all over these threads offering helpful and thoughtful contributions - thanks for being part for the community.


#12

May have been covered already elsewhere but whats theroad map on the operational side and customer service? Also, is there a plan to use the customer service bot like Revolut to deal with more simple queries (not a fan of them but they can be effective if implemented correctly)?

Cheers
Marcus


(Viktor) #13

Hey Marcus, we’re hiring two customer ops roles (the job specs will be on the careers page soon), and the current team (meaning everyone, incl. e.g. @Adam) as well as those new team members, will cover the very initial stage of the rollout. We have an understanding of the industry benchmarks (e.g. NPS, customer ops : customer ratios, etc) and most importantly, we have internal goals to dramatically outperform those benchmarks.

Now, the bot question is interesting and good to reflect on. The way we think about an interaction with customer ops, if you are at that point, something happened or you wanted to find out something, and chances are your experience wasn’t amazing - but we are getting a chance to turn that experience into a positive one. If you look at the interaction that way, it’s probably much better for a human being to pick up the conversation.

Automation will be part of the customer ops toolkit, but building an extremely customer-centric service comes first.


#14

Agree :100:

Bots tend to be automations for common issues you’ve helped with before. AI / Machine Learning is very much hype over implementation right now.