Freetrade Competitors

If it supports employer contributions and is competitively priced, it becomes a very compelling alternative.

I agree with you let’s hope this new ceo is more focus on what we want as their competitors are listening and reading what we want

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Excellent :ok_hand: does that mean you will be leaving the Freetrade community :smiling_face_with_tear:

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Dodl have offered interest on uninvested cash balances.

Currently at 5.09 APR

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AJ Bell's app Dodl offers 5.09% on cash to Isa investors - is it a good deal? | This is Money.

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Interesting… Still not as high as T212 for an ISA, but I think that’s the highest interest rate for a LISA unless I’ve missed something?

I decided to make the switch out to Trading 212, due in significant part to how long it takes to get a response from Customer Services on anything (“we’ll get back to you in 1-2 days” - weeks more like it!).

Sent my transfer request 3 weeks ago and Freetrade have yet to even acknowledge it. Very frustrating but not regretting my decision

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Just seen 212 have posted in their forum to advise that their SIPP will be free with only FX fees applicable. Pension and the word free sounds too good to be true!

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There are some temporary downsides.

No stocks transfers in the beginning.

Also no employer contributions, although that could change

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They must be killing it with the CFD Business. Almost all of there Products are free

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from T212 community forum

81% loose money trading CFDs :rofl: , its a profitable bussiness to be in

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And the danger of ready access to your ISA etc to fund desperate margin calls should not be underestimated. It’s great that FT steers well clear of the racket that is CFDs, Spreadbetting etc. Great for the house, not for punters…

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Nobody forcing the punters into risky trades.

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It hints to an aggressive casino-like business model.

I wonder when we’ll start seeing some serious consolidation in this sector (i.e. mergers & acquisitions), I personally don’t think the free lunch will last much longer (2-3 years?), eat as much as you can while you can :fork_and_knife:

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Absolutely not, but it’s a less than savoury business model, thriving on the gullible and inept. And all the easier to make mistakes if there’s a bucketload of risky products right there for the taking. As I say, I am happy that FT didn’t go down that route.

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We all know that 212 makes money through CFDs, and many view this as a risk for ISA investors due to their business model. However, even if they decided to charge a small fee for ISA accounts, it would still be worthwhile considering the benefits offered. Such a measure could potentially mitigate risks to their CFD business if they foresee challenges ahead.

So they have all the conditions to find revenue through charges, like other brokers do, and still find many users willing to pay for it.

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I’m likely to switch my Sipp to T212. I’m planning to buy some US and EU stocks, so it will be considerably cheaper for my use case.

0.15% vs 0.39% plus a £120-a-year fee makes it tricky for me to justify staying put. Even setting aside cost, I see few advantages to FT other than better execution on smaller UK shares.

As I see it, I’d be paying less for more: multi-currency accounts, pies, automatic dividend reinvestment, more stocks and markets, no transfer out fees, better website – the list goes on.

If I do switch, it’ll be tinged with a little sadness. I’m an investor and long-time client. But a much cheaper, arguably better Sipp offering elsewhere saps the value out my Plus subscription.

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Zero chance in my opinion that 212 stays free forever, I give it 2 years max.

Had a nice little SIPP transfer offer through from Freetrade today too so looks like they are ramping up the marketing in this area.

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I’ve been using trading 212 for 6 months and got to agree with most of your points.
Having a desktop version was very important for me. It’s all very pro so far which is also very important when your hard earned cash is at stake.
Guessing a lot of people want to short stocks on the CFD account which is fare enough but not my thing.
The order filling issue with Uk small caps is a problem.
They found a way to offer free trading accounts, maybe FT should think of a way of doing it as well…