I donāt think anyone objects to certain stocks/features being behind the paywall, itās certainly a reasonable monetisation strategy.
But the problem is stocks moving from free to paid, especially stocks that were launched before Plus was officially announced. It sets a bad precedent, whatās to say that in six months, FT wonāt move FTSE 100 stocks behind Plus?
I completely get that the solution to continue investing in those stocks/ETFs is ājust buy Plusā, but the cost of that may well wipe out growth, especially in smaller portfolios.
must say i feel this is a bit bait and switch. The freetrade journey has been one of small buys here and there for me, and by chance i have 4 shares on the soon to be plus list. Total kick in the teeth to log on this morning right after i transferred in a large amount of money from iweb and see this!
Not sure if the plus features do enough for an investor like me to justify Ā£120 a year.
Thatās fair enough. I agree that the offering of plus (as currently stands) isnāt enough for me to justify Ā£120 either. But with the stories of competitors using oversea accounts, loaning out your shares & (actually) bait and switching users from shares to CFDs, the fact Freetrade has clearly explained how they plan on generating revenue makes me more confident using them to invest in and hold my portfolio.
A similar thing happened with BCPT when it turned into a REIT. Before it changed to a REIT you could buy/sell in an ISA. Then BCPT changed to a REIT and you could only buy/sell if you had existing holdings in BCPT. More recently itās changed again so you can only sell BCPT holdings in an ISA.
I would have thought it makes send to let existing investors buy/sell given Freetrade already has to do extra work to get the 20% credit on REIT dividends, which is the reason why REITs are not included in an ISA ( see this answer: UK REITs in ISAs š¬š§ - #15 by Gemhappe ).
Anyway, thatās a very long way to say Iād prefer if investors could buy/sell on open positions that were opened before Plus launched ( to avoid anyone signing up for a month buying one share in a bunch of Plus only stocks and gaming the system ).
Oh - ive invested in freetrade through several rounds so more than confident in them! Think in my case it is pretty rotten luck. Though was really hoping to keep adding to Bacanora through 2021.
Thanks for the PDF. Jubilee Metals and Seeing Machines are 2 stocks i wonāt be able to top up anymore. Will open account with another app and wonāt be buying any new stocks on Freetrade again, trust is something i value and FT has lost that.
A fair amount of shares I hold are in that list, damn! Does anyone know if many of these are free to hold/trade on eToro / Trading212? Maybe Iāll jump ship for those stocks
And peoples opinions on changing from Freetrade would come from where? Clearly, youāre not answering my question so letās not waste each others time further.
I have three on the list. Iāve no intention of selling them to move them (no reason to do so), as for buying them on other platforms.
For two of them there are already potential equivalents that arenāt in plus I could use. Not decided if I will use them.
For the third, maybeā¦ Iāve reduced my positions on other platforms to reduce risk from those platforms. I may use them for small positions in the future, I donāt know. Probably not
Real Big shame that these stocks are moving behind a pay wall. Just had a message and a big portion of my stocks are going behind the pay wall. Will likely have to open another account as I donāt think I can justify Ā£10 a month
Obviously understand future stocks being behind pay wall but real shame they didnāt make the commitment to keep all currently free stocks free
Iām wondering whoās actually cheaper? The only one I know of Iām pretty much permanently put off by with their handling of their persistent infrastructure issues. Everyone else seems to have a fee somewhere be it an isa fee or trade fee
Mine too. I had a brief look before but now a further look and Iāve got 4 positions on the list which I was going to add more to. Iāve always found a few stocks that Iād like arenāt on Freetrade and thought āah well itās freeā but moving to a paid for service for the same experience, thatās a different story. Iām going to purchase these on a more comprehensive broker now as their fees arenāt as bad when comparing to the plus subscription cost.
I often think that then people keep trotting that they will go elsewhere based on cost. There is one other provider that is lower cost but they certainly are using a loss-leading model in the short term that canāt go on forever.
Depends on how you invest. For instance if you buy two or more stocks a month on Plus then it will still be cheaper. However, if you buy one Plus stock a month it works out cheaper to buy on IG.com at Ā£8.00 for the same stock. Iāve got nothing against the Plus cost, but itās got to be value for money and I just donāt feel that. In terms of IG.com the biggest thing that put me off was the cost however the platform and amount of securities is far, far superior. IMO Freetrade should have charged Ā£5.00 for plus and then a Pro plan once the platform is more developed and more comprehensive.