Freetrade Competitors

Why link them bringing out a SIPP to profitability when it hasnā€™t been announced?

Even if interest rates drop there is still a market out there for them, opening up cash ISA transfers will boost their AUM and it will be interesting to see how their investment offering performs.

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I am convinced they will kick Plums ass :+1::crossed_fingers:

I donā€™t expect them to do a SIPP , n thatā€™s not what I am saying,they should stop burning cash n leading share holders on.

Thanks

I am such they will not be getting anywhere near Plum, I own shares in both Companies n have far more confidence in Plum at least we can see where Plum is spending the money.

Q2 2024 Summary for Moneybox below-

We saw Ā£2.25 billion in net deposits (up 353% YoY) across the quarter, and our AUA reached Ā£9.45 billion.* We also acquired over 83,000 net new customers.

Annualised revenue for June 2024 was Ā£102 million (up 74% YoY). We expect revenue to moderate at around this level for the next few quarters. Gross margin for June 2024 remained strong at 98%*, and we continue to generate positive free cashflow.

Really good showing from them.

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Iā€™ve got 1000 shares in them and Iā€™m guessing the shares are approximately Ā£15-Ā£20

I honestly canā€™t express how annoyed I am at @adam @Viktor for the direction THEY chose to take regarding Sweden. Absolutely disgraceful.
To think Revolut only started 2 years before Freetrade.
@Viktor should do the decent thing and resign over the Swedish failure,everyone knew they were going the wrong direction and it should have been Ireland or The Netherlands that they should have expanded too.

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Honestly I think it probably the best thing they can do. They should focus on a single market at a time (aka UK) then move into other areas.

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It would be nice if Freetrade did the same as robinhood does below and this shows up on the stock page of shares I own as soon as I am eligible to the dividend & on my transactions page as pending.

And yes its always paid on the payment date as soon as trading opens.

image

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Iā€™d prefer it if upcoming dividends were to appear at the top of the Activity tab, with the ability to click through to see the detail (if FT donā€™t want to show all the info in one go). I wouldnā€™t see it included in the outputs from that area, though, as they havenā€™t happened yet.

A similar approach to that taken by Monzo, showing upcoming direct debits, etc. Always at the beginning of the feed of transactions.

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@Daven

Sorry Iā€™m a bit late with a response but I have an answer for you in relation to are I-Web any good for trading penny stocks or AIM stocks.

The answer is yes.

I wanted to buy Celtic Plc (the football club in Glasgow).

Turns out itā€™s an AIM stock.

Because it uses the 15 second quote system the trade went thru then and there.

I got two quotes.

On my 2nd quote I pressed the magic button and ta-da, trade executed then and there and the whole affair was painless.

Because I-Web is a mid way broker. Not completely full service yet not free either, they use market makers instead of the auctions system 212 uses.

Also neither freetrade or 212 have Celtic Plc in thier stock universe as at time of writing

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Impact of high interest rates environment on stock brokersā€™ revenue: Robinhood

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Has anyone watched this and how he gets fees off, he doesnā€™t really explain why things are cheap, heā€™s a Web designer so he tends to like certain Web interfaces.

Anyways if you fancy a watch to see what he says :slight_smile:

This is why itā€™s quite difficult to compare providers. he put invest engine and ajbell as the winner for fees, while this is true, its only true up to 80k and 50k held with them then freetrade is cheaper. And I donā€™t know why it isnā€™t invest engine and vanguard? theyā€™re more comparable products and have the same % fee (the cap is irrelevant because other providers end up cheaper so you should consider transferring at that point).

I think he did this before the improved web version?

im not quite sure how he came to his tier list, I thought I was because of things like drawdown but then he lists InvestEngine as A tier ??

Itā€™s not fees because InvestEngine is more expensive than Freetrade (also he never mentioned paying yearly making Freetrade the second cheapest on his list), but he cites fees as high off the bat as the reason? but his monthly total cost comparison table says otherwiseā€¦ very confusing.

My comparison

If youā€™re new to investing in a personal pension with a small pension then a % based broker which focuses on a limited set of ETFs or Funds is a good starting place. Which puts companies like Vanguard or InvestEngine as really nice options. I know Vanguard has reasonably good support and is a nice stable platform.

As soon as you hit the ā€˜thresholdsā€™ on those % fees, itā€™s worth switching, they donā€™t offer anything worth staying there unless you like the simplicity and how they offer the product.

ii is good, but the fees can feel complicated.
HL is good but becomes expensive quickly, and as soon as you want to invest in shares outside a monthly option of a limited list itā€™s immediately more expensive than most. But if you donā€™t, and want to just invest in say a simple global ETF once a month by direct debit. its a good option

Freetrade is imo a nice middle ground. If you want to invest in other shares than just ETFs or Funds or hit that 50/80k % fee threshold it becomes cheaper.

But I think Freetrade still suffers from poorer customer support than other providers (has this improved for anyone recently?). HL seems to be king here, call and the phone is answers in a few seconds (historically at least last time I tried), but then you also pay more to get this experience.

as in his monthly cost he shoes in the SIPP video or the ISA video?
heā€™s really restricting the type and frequency of investing to try and get a stable comparison

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Just to emphasis your point about different brokers suiting investorsā€™ differing needs, which is a key one, I actually think FT has the best customer service of the bunch.

I donā€™t really care about phone support. Iā€™d rather send a message and get a response in a reasonable time and FTā€™s quicker than most.

That said, I pay for Plus and, as an investor, itā€™s always made me a little uneasy that some clients receive top-class service while others donā€™t. Iā€™m not convinced by that model.

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Yes the fact he doesnā€™t state you could pay yearly with FT making it cost the same as before and the fact itā€™s free if you have 3k etc which is all personal pref and depends how and what you want to invest in.

I see you have lots of experience in using all these providers so that was a nice insight to them as I have no cluenso thanks.

As for the customer support you will see I was on his YouTube video saying you must of had a bad run because anytime I ask ft for help they have got back to me no matter what plan I wqs on and Usally within mins to an hour.

I have got to Ā£0.17 pence moved over from one account to another in under an hour.

Money from my gia all sold to a new isa all in under an hour.

Ant other time I get random messages through saying any more feed back feel free to tell us we appreciate it etc. Or I never asked for more help and I would get just checking up on you to see if there is anything else we can do. So I call that high level customer service.

Iā€™m not sure if itā€™s me being a friendly person to talk to on coms or am I just lucky but I canā€™t fault and would rate 10 out of 10 for customer support.

Oh I forgot to mention that Iā€™m nowhere near that threshold before FT becomes cheaper but I really canā€™t be fked jumping brokers all the time and I get over the years I will suffer losses but it is what it is.

Its like bank accounts I canā€™t be bothered switching at times just for 50 notes etc

I would do if I was on benifits and struggling tho

I would say maybe it could be that weā€™re plus members and investors but I got good care before I invested and was on a gia for a long time.

I canā€™t speak of other brokers well actully T212 was bit to bad their the only broker I ever dealt with because I was with them learning how to trade etc and then I had 100 in there for a month and a free share to help a poor mate out lol then I closed the account because I hated that email address.