Freetrade Competitors

[Big-g]

The other favourite is “FT announce 250 new stocks” first posts are “But when are we getting X,Y and Z?”

[saf]

They are moving fast. Given the website says

Has anyone joined and invested via Lightyear yet? What are your thoughts?

[NeilB]

I just signed up and I’m in the queue. No time frame given for onboarding. The app seemed quite slick with a nice UX.

The name is rubbish to Google though.

Lightyear

If anyone wants a referral so I can jump the queue, I have no intention of replacing my FT ISA & SIPP I want to see what it’s all about and share with the community -

please don’t flag me, I’m spying. Like James Bond but balding and a little overweight … so nothing like James Bond

[TradeRunner (Marc)]

I got an email informing me I’m in the first 2000 on the waitlist and they will give me a £10 bonus to invest.

I’ll give the app a try when I get the on-boarding email.

[NeilB]

Nice. Be interesting to see how they approach this.

[Pdw]

Same here… The name is a bit strange… But interested to see what it’s like!

[SebReitz]

That’s basically advertising competitors though. So don’t be surprised if this gets deleted.

[David76 (Davide)]

ahhh but it would be great if companies like LVMH, Adidas, Nestle, BMW… would be available on Freetrade

[Cameron]

Apparently 200 people joined the queue in the 12mins between me and you i.e. a daily growth rate of 24,000 users. At £1,000 valuation per registration they should be a unicorn by the end of October!

Anyway in all seriousness I’m unlikely to switch, because without ISA/SIPP it’s of limited value. Might be a bit cheaper than Degiro in some cases though so might have some merits as a GIA.

It is crazy how many of these are springing up now though.

[JTJB (Jack)]

Are we setting up a ‘How many Users now?’ thread for Lightyear? What’s going on here guys! . This is what happens when you delay the Crowdfunding round
(4, 815 in the queue)

[Rob14 (Rob)]

“Lightyear Financial Ltd (FRN 955739) is an appointed representative of RiskSave Technologies Ltd, which is authorised and regulated by the Financial Conduct Authority”

They’ve gone down the appointed representative route, different to to Freetrade who got fully authorised by the FCA way before launching. Presumably since they’re late to launch they need to go down this route. It’ll be a long journey ahead if they plan to get fully authorised, build their own platform, connect directly to all the exchanges etc.

[Big-g]

A clever marketing tool to jump the queue with a referral I’m 4838th I’ll be staying put here but happy to have another option in case it does something not available here etc.

[Gold1 (Nwabue)]

I am 4839th in the queue,just now.

[Gold1 (Nwabue)]

By the way , I am not switching my Freetrade, am just curious.

[Cameron]

@Big-g

A clever marketing tool to jump the queue with a referral

Robinhood had the same thing for their UK launch, I jumped right up the queue through loads of referrals as so many people were excited for it - obviously that was a waste of time in hindsight.

[jspen (#1,490)]

I don’t think they verify the email addresses, I bet if you make a load of them up you’ll be able to get yourself to #1

[Big-g]

Probably true but I’m not that desperate to get in Pretty sure it will be another app I delete in a few weeks after getting in.

[Pdw]

They seem to have caught on now with the latest update, you need a seperate phone number and email now

[Nialljmaher (Jeff)]

I’ve signed up to the waiting list and the branding looks really nice but I don’t see enough of a difference in the offering apart from multiple currencies ability to differentiate it from all the other apps.

[Pdw]

I’ve noticed also no fx fees. Apart from that, like you say, nothing hugely different… I guess we will find out more in due course. They must have plans for a subscription… No commission and no fx fees. They need to make money somehow. 'have a website live in the coming months ’