Also potentially going to limit how many trades a day you can do… Which makes sense if there is no fx or commission costs
Those PDT restrictions are required for US regulation, so that’s not a commercial decision.
I imagine they’ll make most of their money from the FX fees (there are still some) and possibly share lending, they probably don’t need commissions or a subscription to make money.
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They’re likely to move faster. They just raised a decent amount of capital which is impressive at their stage.
Seems like John Lewis have partnered up with Nutmeg to provide investments via ISAs, JISAs and GIAs.
I’ve ordered online from John Lewis before so they had my details on their records - that’s a big market base they can tap into.
Note - I won’t be opening an account with them!
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It looks like there is a few hundred from the Freetrade coach party all in the queue to use their toilets and leave without buying anything! Not many people have joined behind us.
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Not a good look for eToro
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Freetrade is the future.
As Viktor said many moons ago - they will not take the quick easy route, they will build the best they can.
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It’s paywalled, what was e-toro’s justification for selling them without his permission?
Probably related to this:
But sold at $0.01 though?
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The airline has to limit how many shares a non-EU person can have, due to Brexit that includes UK citizens. So eToro tried swapping the shares to the ADR but in the process the balance went negative due to a technical glitch so so they couldn’t. They resolved this in 6-days.
eToro has tried to make it up with a $250 goodwill gesture but the investor says he lost out so has gone to the Financial Ombudsman.
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It would be interesting to hear how Freetrade has resolved this with people who hold Ryanair shares.
You can’t buy Ryanair shares on freetrade, only ADRs.
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Thanks @SebReitz, I saw $RYAAY and thought that was the one but it’s obviously not.
Yep, Freetrade dodged a (potential) bullet here 
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I’ve managed to sign-up after a small issue with the on-boarding process, which required an update to the app.
The account shows options for holding £, $ and €, but looks like only a selection of US stocks currently available (no ETF’s or Funds). This is a GIA account, no ISA or SIPP etc yet.
Will try out the buying process on Monday, but at the moment I think it’s very much the MVP version of the app. It has a clean interface and includes basic info for the stocks (Market Cap & P/E ratio).
Nothing for Freetrade to worry about right now, but no doubt Lightyear will move fast to improve the app and stock universe. Hopefully Freetrade can make the most of their early move advantage whilst the new competition plays catchup.
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Some screen dumps for those interested… Once depositing money, you have to convert it to usd to buy usd shares. You can buy monetary value, or a number of shares.
I don’t like the UI. It’s clunky.
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I’ve been using the Lightyear app for a few days now and I think it’s a decent investment platform given its early days for them. They need to increase the available share universe of course.
The interface is a little different from most of the other investment apps but I’m used to it now and it’s ok for me.
They are only charging customers an fx fee who convert currency of more than £3000 per month - then the charge is 0.35%.
That seems like a too generous limit, as I can’t imagine there are a lot of people with more than £3000 a month to invest.
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