Freetrade Competitors

Be interesting to see how long they last in the UK as thier beloved PFOF is banned in the UK.

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I suspect robinhood will do pretty well in the uk as i believe they are like T212 they are giving extended trading hours.

But for me and most people the FX fees are virtually zero with robinhood with freetrade its between 0.39% & 0.99% with robinhood its 0.03% and that over time will save people a significant amount if money

Plus I believe robinhood offer 5% interest on uninvested funds.

So it will be popular as you get access to the same US stocks with a much cheaper cost, better interest on cash and more trading hours

So yes robinhood is likely to take a huge chunk from T212 & Freetrade

I suspect that is why T212 keeps increasing what they offer to be competitive with what robinhood is doing after all robinhood has been shouting for months about how competitive they will be unfortunately freetrade is just standing still and not being anywhere near as competitive.

The only thing I am not sure about yet as I have not had my robinhood invitation yet is if they are giving away a free share when you sign up like most companies do.

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"But looking at the small print, with Robinhood the cash is converted from pounds to dollars in the process, leaving investors with an unplanned currency exposure. "

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Yes but it’s not like people are going to use it as a savings account most will have the cash in there ready to buy when US stocks are slightly lower so for most people the fact its in US dollars is not an issue, and the higher interest while your waiting for that is a bonus.

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No ISA so pointless for any serious long term investor.

Fine for a play about with pocket money on US stocks but the way capital gains is calculated moving forward it cant be anymore than that at the moment.

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How very dare you say such a thing?
ROBINHOOD PROBLEMS FROM SOMEONE

So it seems there is an issue with their app at the moment… TL;DR Their UK app is showing offers/sign-up links for the US version, do not click them!

I spotted it had become publicly available in the UK (iOS) App Store and downloaded it. Tried to setup an account and was bounced a waitlist screen (as I expected would happen).

But then opened the app again a few minutes later and was presented with a full screen offer showing “Sign-up and get shares worth $5-$100” type of thing. So I clicked it and got straight in, setup a username password etc. But then when it got to the address section it was only listing US states…

And now my email shows as ‘already used’ when I try directly through the homepage Sign-up button (for the UK one).

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No ISA no point

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I did the same. Messaged through the app to delete the sign up. They did get back to me

Any idea if Robin Hood will offer Options on US stocks for UK customers?

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They sent an email today about this card. It seems to be better than Wise, Revolut, and others in terms of fees and rewards. I joined their waiting list.

If Freetrade don’t ipo in 2025 they will be acquired by Robinhood,HL,AJ Bell etc

Details of the card - https://www.trading212.com/cards

Congratulations to the fast and dynamic leadership and teams over at 212!

They’re absolutely smashing it with all the new features and developments. The pace at which they keep pushing the envelope is admirable.

I’d recommend everyone pop over and check their features which also recently included 24/5 trading - https://www.trading212.com/invest

I really can’t believe how fast they move. I think I have Stockholm Syndrome.

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Never forget:

77% of retail investor accounts lose money when trading CFDs with this provider .

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Don’t trade CFDs then!

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T212 really does seem to put FT to shame in terms of listening and pushing out features its users want.

This FT vs T212 reddit thread was an interesting read:

https://www.reddit.com/r/FreetradeApp/s/YLlvXz0Tn5

I’m a little fearful if T212 launches a Sipp as that’s one of only few meaningful advtanges that FT has.

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Would move me for sure

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I would seriously think about switching too.

For me, the only other real pro for FT is its customer service, which I think’s the best around, but I have never had much need to contact T212 support.

FT has a few other pros, such as better execution on Aim stocks, but none are important to me.

I’ve never really bought into the whole "holier-than-thou” argument around CFDs.

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They are indeed amazing at quickly delivering big features.

Putting moral argument aside, If a company’s core business is making its customers lose money, that’s probably not where you want to park your savings for the next five years.

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Wouldn’t that be a personal decision for each customer? From what I understand, they don’t force anyone to invest in these CFDs. I don’t know if you’re aware, but you can simply open an ISA account and have no involvement with CFDs at all.

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