Founding Member - couple of questions

Hi Guys

Got my invite yesterday and I’m in and ready to trade! The app looks great but I have a couple of questions:

1.) As a R2 Founding Member investor should I not be getting premium (instant) trades for free? The app wants to charge me £1 unless I trade at end of day.
2.) When do I get the cool icon on my profile?!?

Cheers

Stuart

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They haven’t activated Alpha status yet. Hopefully soon.

Ah OK - thanks Kenny.

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You should but we haven’t set this up in the app yet. So we’ll refund you any commission that you pay until we make the change that’ll mean that don’t get charged for instant trades at all.

The only thing is, it may be a while before we process the refunds so if you can’t wait, please use basic trades for now :raised_hands:

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That’s great - thanks Alex

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Isn’t the unintended consequence of this policy that it is open to abuse? For instance, a founding user could game a high volume of instant purchases to accrue income on relatively safe trades e.g. Gilts.

What would be the rationale for that? Is it no easier to just make a large instant order and be done with it?

Also, no one will stop them from doing so after Alpha is released, but that is the benefit of being Alpha user / Founding member, so hard to call it abuse either :slight_smile:

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Actually, there is no rationale, what I initially thought doesn’t make sense on second thoughts. I ignored one side of the equation.

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Was that the side where I spend £1 just to recoup £1? :grin:

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Forgive me, I’d just read the front page FT article on how “mirror trades” were used in the ongoing Danske bank money laundering scandal which got me thinking a little too hastily :sweat_smile:

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We can never ignore @Diversify :slight_smile:

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HI Alex

Any update on when the app will give us founding members free instant trades?

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I know you are all busy onboarding new stocks Alex and users, but it would be good to have a rough ETA on this as my trading fees are adding up and I would be far more active if I could do instant trades for free!

I know it does not answer your question, but if it helps, all the charges you incur when making instant trades will be refunded once Alpha subscription is released. This applies to all Founding Members.

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Thanks Vlad - I’ll leave them in peace for now then!

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(What is a “founding member” anyway?)

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Those who invested £1,000 in Freetrade in rounds 1 and 2 or £5,000 in round 3.

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I know you’d know, thanks Vlad!

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Hi all. I’m a founding member and have requested access to the founding member group, but no such luck as of yet. Anyone know who I should contact to follow up? Thanks!