No its not. its relevant to any UK domiciled funds and stocks.
This shouldnât really be a concern. And we have real world examples to show why.
In reality the 85k protection isnât really used for your investments themselves, they arenât disappearing. The only case where this were to likely happen is if an investment company wasnât buying the investments at all. But thatâs such an out there idea im not going to specifically address it.
The reality is your investments are held in a separate nominee company or other third party custodian, not by Freetrade. If they were to go bust, your shares donât just disappear with them.
What is the 85k used for then? In realty it covers fees from the appointed administrators and any small shortfalls
An examples might be Beaufort Securities in which to date 99% of client assets have been returned to them. the FSCS protection covered the various fees involved in returning the assets and any shortfalls in client cash or assets.
Let put it this way, those millionaire ISA people donât have 12 different accounts.
Honestly I think itâs unlikely youâd lose your cash either in many scenarios. Itâs the administration fees that it covers that probably really helps.
Iâm also using eToro. Honestly Freetrade has a much better support service and in my opinion is much more reliable. But⊠CFDs have some very big advantages and are not much riskier if we know well our purposes.
" Since the launch of our Invest and ISA services, weâve been covering all deposit fees charged by the payment providers. Typically, these fees are included in the price of the products and services that you buy. But our share dealing service is completely free and the transferred amounts have grown to billions of pounds per year. Thatâs why, starting from 04.01.2021 , we are introducing a lifetime limit on free deposits via all payment methods other than Bank Transfers & Instant Bank Transfers (Open Banking)."
This one was easy to surrender because of open banking, but it also means they are running out of CFD money. The FCA crypto ban they got must have hurt.
Most players are still âselling dollars for 50 centsâ to grow right now, T212 included. Although they have caved and are not willing to subsidise certain account funding channels, they are still undercharging many of their services to attract customers.
It will be interesting to see how each player in the neobroker space stacks up when theyâve fully implemented a pricing/fee structure that takes them to break even. I have a feeling FT will be the cheapest when that time comes.
And theyâre getting into crypto, they just hired one of the product managers from Coinbase
True
Already do
The company charges âŹ1 per order in fees. Thatâs whether one has bought a single share worth âŹ100 or allocated âŹ10,000 on an ETF, Tech Crunch writes.
According to Trade Republic, the company doesnât add anything else on top of that commission. The startup allows the purchase of European shares alongside Asian or American companies, and there are 7,500 shares and ETFs on the app.
Tech Crunch notes that French users should specify that they have a foreign bank account when filing taxes, as foreign brokers donât always send the information to tax authorities to pre-fill the reports each year.
Trade Republic raised a âŹ62 million Series B funding round last year, which was co-led by Accel and Founderâs Fund.
No fractionals, no open banking, no Apple Pay top up, the fx is built in the price so hard to see how much you are paying, stock universe is missing a lot of recent IPOs, etc
Super easy decision in asking them to close my account
Sidebar; They have tried to make their website less corporate around share dealing but the actual account side of it is still the same. Also their Reduced Dealing Commission events remind me of offers brokers a long time agoâŠ
