Freetrade Competitors

Oh, yeah don’t get me wrong. their team from what ive seen in the past are all great. lots of young people as well. Just old school in the sense of charts, web UI, layout… fees :sweat_smile: (different story for the app)

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Yup, you are definitely right about that!

Rumour has it, this has something to do with incentivising CFD trading. Something to do with “providing liquidity for the CFD markets” if the YouTube video I saw is to be believed?

I’m unsure. I know the changes apply only to GIA and ISA accounts, CFD isn’t limited by these changes. But they suggest it had something to do with risk i think, though they don’t go into any more detail than that.

Some of the limits i expect won’t affect many if any people, a max position of $1.25 million on apple for example (1,250,000 seems to the upper cap on limited stocks). But others are just… odd. I mean there are some in there that limit you to a maximum order size of 1 share, and a maximum position of 1 share.

I expect in most cases people wont notice, but in some cases people will hit some of these quite low limits.

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Don’t know about all the old banks, but for the ones I have accounts with (HSBC, Santander, Nationwide) I think the difference to the new bank apps is still vast. Do agree on customer service though. Prefer the old banks for this.

On the main topic of this thread, I think HL’s app has been excellent ever since the current version replaced HL live in around 2017. This predated Freetrade’s launch.

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Wowee £175million over 5 years,Last of the big spenders. What are they spending it on? They would need about half that amount just to develop an app and keep pace with Freetrade,who at last are starting to produce the goods!

And they also have a magnificent community forum :flushed:

Gut feeling. I can’t for the life of me understand how a company can do so well with so many complaints.

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They have an app and as others have said it is a very good one.

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They have 20m+ customers.

Of course some are unhappy.

20m is like 1/3 of the UK population. How can you possibly please everyone?

Generally they do extremely well on all customer satisfaction surveys and the app has the same score as Monzo on the app store.

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Could the 212 limiting your order thing have come about due to the influx of sign ups. They back-end of IBRKR and maybe IBKR have set some limits for a while as a temporary thing.

Who knows. I got invited on 03/08/22 and joined the same day, also I suspect that they have essentially turbocharged their waitlist approval process to get everyone on the waitlist signed up by the end of September.

Sure it’s speculation, and none of this can be proven… But it’s a form of speculation that has some possibility to be plausible.

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My ignorance knows no bounds! They actually have 0.4 better rating than Freetrade which I can’t quite get my head round,Freetrade being a “Fintech so to speak. But do you know what,it doesn’t surprise me!

HL share price up c7% today. Guessing they’ve had an analyst upgrade or two.