Freetrade in the news.
Freetrade in the news.
Very nice mention -
Freetrade is another good example. It allows people to invest in the stock market without paying the usual brokerage and management fees. It’s a great way for ordinary people to grow their savings during a time when many bank accounts offer negligible rates of interest.
There are so many good fintech products out there. Let’s pay attention to the ones that are helping people, not hurting them.
I didn’t see a thread about this, so if there isn’t one here’s a thread for Freetrade in the media.
Freetrade was mentioned on the BBC Moneybox ‘how do I start investing’ episode released yesterday, when they talked about some mobile alternative platforms for investing. It was mentioned as an option for people who want to pick individual stocks or really want to learn how it all works over the other mobile apps which just invest in a handful of ‘risk’ based profiled options.
There is one old thread created as freetrade in the news Freetrade in news
15 min 50 secs in after having advocated for index/fund investing e.g. FTSE100, Holly lists “nice options” to being investing such as Moneybox, Wealthify, Nutmeg and Plum.
Then Anna suggests as another DIY option: ‘…Freetrade actually allows you to invest in particular companies that you can look up and see what they’re doing…’
Amused Host interrupts as: ‘Holly is pulling a face’
Holly: ‘… the Freetrade app is an interesting concept but I think the problem with it I feel is it’s getting people to buy one individual share and that is putting all your eggs into one basket’.
Context for this related exchange :
Genuinely struggling to understand where this view has come from. Certainly it is far divorced from Freetrade as I use it.
Maybe the “get one free share for referring” message has landed as “invest in one share” for some people. Or maybe she just meant to say “it’s getting people to buy
one individual shares”.
(It feels true though that there’s a lot of people who would invest but would like it to be simpler than an execution-only broker can make it for them. They may be going to the discretionary platforms like Nutmeg at the moment.)
She can check out the SXX thread if she wants to see the community’s view on diversification…
That’s a feature, data viz is underrated. Design is everything. How come @adam gets to have that in his beta and we don’t? Nice job team
Nice plug from @adam in The Times Money section today :
This is a must. Along with creating your own portfolio’s (I have created idea before). Show equity postions in that portfolio that you create as well. Post has since been merged but…
I would like to have the ability to group different stocks into portfolios for each user. Example: I might have a tech portfolio I call Portfolio A. Portfolio B is a balanced portfolio with a lot of different asset classes. Portfolio C might be a dividend portfolio. It would be nice to be able to group these at the user’s choice. And show the percentage that stock makes up that portfolio it resides in.
Freetrade got a mention under Cheap… in fact, free in this post.
Did not expect to see the phrase, “It oozes testosterone”, to describe the app.
Don’t agree with the testosterone comment, but can understand the intimidation aspect.
But it won’t be for everyone. It oozes testosterone. There’s not much content, guidance or help and if you don’t know what you want to buy it could be intimidating.
Freetrade has loads of content (medium blogs) & wikis that could be signposted in-app e.g. like in the current Monzo app:
I’m confused by that. What do they mean? I’m kind of failing to see how it oozes testosterone , sounds like they just made it up.
It’s a bizzare phrase, and the colour scheme doesn’t exactly fit it. The point that the app drops you in the deep end and doesn’t offer any hand-holding is fair, but equally the reason why there isn’t much “guidance or help […] if you don’t know what to buy” is surely because Freetrade cannot offer financial advice?
We agree, this will be helpful! Some of them are around, e.g. the ETF intro post on the Discover screen. But we shall do more.
This just in
I am reading it now.
Our clients are overwhelmingly millennial,” said Nebehaj. “The average age is 30 but we do have a small number of outliers. One customer is 90! He posts quite a lot on some of our discussion groups too
Any guesses? I would be classed as a bit of an outlier but it’s not me