want to start a thread of ideas which users think Freetrade needs to become a unicorn.
1.) Bitcoin
2.) more share insight pages eg.
a.) the ability to see in ascending order the biggest share movers by price in your portfolio over the day, week, month year. So when your taking a glance at your portfolio you can see whats making the best and worst influence on your bottom line.
b.) weighting of country exposure, this would be really useful with covid and elections.
3.) increase Gameafication- whilst this is a controversial topic. Gamefication is what has made facebook, tinder etc. the biggest companies in the world. This could include trophies, setting targets and being congratulted, possibly entering challenges.
4.) search feature- for stocks you’ve bought and sold in the activity tab
5.) website
6.) The ability to set alerts on when certain stocks reach certain prices, as sometimes you want to know but not necessarily buy or sell, especially during market volatility.
please feel free to add more- here’s to an amazing 2021 - just annoyed hering mates move to Trading 212 and that’s why I think these features could put our competitors to bed
Agree with this, Those features are far more important for a Stockbroker than Crypto/Bitcoin. Although I wouldn’t be opposed to crypto being added a few years down the line when Freetrade has all the features you would expect from a world beating stockbroker
Bitcoin isn’t a regulated type of investment, it’s fraught with issues with fraud, half the banks ban bank transfers to crypto exchanges. I don’t see how it fits Freetrade?
I agree with all of your ideas except 1 and 3. There’s a few threads on some of the ideas as well that you might want to look at.
1 is obvious, it’s not a regulated instrument and freetrade isn’t a crypto exchange. There’s something to be said I think for focusing on being good at a specific thing than trying to do everything.
As for 3. I’m almost in no doubt that the FCA will hammer down on manipulative gamification of retail share dealing in the future. It’s fraught with problems. Unlike gamification of health for example where we have well understood research showing how exercise is good for you, the same can’t be said for investments and gamification to date seems to simplify down to essentially encouraging people to make on the spot investments with little information and little consideration of risk.
I mentioned on another thread that gamification of investments can have serious negative effects including issues with mental health and potentially physical health not to mention the loss of all your money.
So in that respect I’m very much against almost all types of gamification
I think I agree with all the suggestions other than Bitcoin and gamification.
Bitcoin would be a short term boost for freetrade but long term I don’t see it driving growth (they’ll struggle to compete with crypto specific exchanges and larger companies like revolut. Also I think it would likely detract from their image as a safe place to put your pensions and major investments and that kind of trust is hard to build and easy to lose.
Gamification as well as being very dangerous for users wouldn’t help freetrade that much I think it would boost user numbers but it would probably make older investors and those with larger amounts of money think twice. This could lead to considerably lower AUM.
Agree, the LISA options in the UK are horrendous at the moment.
HL - old fashioned and archaic practices
AJ Bell - much of the same
Moneybox & Nutmeg - Little control/influence on the stocks invested in and so non starter for many
I suspect their are a bunch of us with LISA’s on other platforms, simply holding cash for the bonus and not willing to invest via the above platforms for the obvious.
We need a FT LISA in the same way we have a FT ISA!
Id rather they did one thing really well rather than add crypto/bitcoin. There are so many places to buy bitcoin from already. Adding something like greyscale bitcoin trust or mining stocks and then bitcoin etfs in the future, all make sense. Becoming a crypto exchange is somewhat diverting focus away from becoming a great stockbroker. I say this as someone who buys crypto and holds it on other platforms. I dont see the point in freetrade allocating resources to it, would rather see them increase their stock universe.
Things i would love:
Self invested JISA would be a game changer.
ability to hold usd for us stocks
investment pies for lazy dca’ing my portfolio
getting stocks listed faster, especially growth and innovation stocks like nndm is shocking to not have for me, been wanting it for months.
web interface
I know im repeating stuff here, these make a lot of sense to me.
Not sure about the lisa? I can get a lisa elsewhere, I hope freetrade keeps its focus on doing the few things it does well/better and unique offerings rather than trying to be a financial catch-all and diluting its resources/focus.
