Freetrade in the news šŸ—žļø

From a separate thread it looks like Freetrade have reached 300k customers today, the below survey intimates they did this with just 11% consumer awareness! I read that as a very big opportunity going forward!

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A fleeting mention only in a Sky News article focusing on Robinhoodā€™s increasing scrutiny from US regulators:

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Some people may dislike my thought on this but I actually think plus is a good reason in part because it provides a barrier for people to be less likely to yolo money into extremely high risk gambles on a whim from what someone says on social media.

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Go on Freetrade! :joy:

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It is alarming that more and more CFD platforms appear to be using share-dealing as a means to acquire more customers on to their platforms,ā€ said a spokesman for FreeTrade

Shots fired at T212 :smiley:

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https://www.google.co.uk/amp/s/www.thisismoney.co.uk/money/investing/article-9129183/amp/Fears-share-platforms-touting-bets-lose-money.html

With an outcome even worse than etoro of course t212 didnā€™t respond.

Regular Freetrade readers will know the dangers of using these competitors and ultimately what they want you to doā€¦Bleed you dry after youā€™ve signed up for free share trading with leveraged gambling. Feel sorry for the 76% of their users that lose money not know what they are doing. The regulator really should be doing more.

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CFD trading is risky but surely any trading platform would want returning customers; if they alienate a high percentage who lose money and they donā€™t return where would that leave the platform as there is isnā€™t an infinite supply of people who would want to trade this way.

The thing is CFD trading and spreadbetting can provide a similar emotional response to gambling. even if people are losing they still keep going back because there is the chance to win big via leverage. Itā€™s addictive.

To a certain extend Share trading can be, but if you take away the leverage at least you canā€™t get into as much trouble

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Ok, now thatā€™s boxed off can we have a LISA!

Iā€™m sort of semi jokingā€¦ well done to the team at Freetrade on the new product launch!

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No joke from me. V keen for a something better and cheaper than Nutmeg! :pray:

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Freetrade mentioned midway. Is this article the result of the journalist thread the other day?

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Her t-shirt is freetrade pink so sheā€™s on brand. Or is that investor swag from R6?

ā€˜Free trading quickly became gamblingā€™: how novice investors get caught out by seductive deals (telegraph.co.uk)

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Really curious that 212 never seems to respond to comments whenever theyā€™re in the news these days. I see plus500, etoro etc all responded.

Some very unfortunate examples in that article of how easy it is to end up in a huge hole. I donā€™t think it would be wrong to say that that same problem can be extended somewhat to normal share dealing especially with volatile very unpredictable penny type stocks that a lot of people essentially gamble on on the word of others online.

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Am I the only one who isnā€™t paying for digital newspapers and canā€™t read that stuff behind a paywall? Ā£2 per week that are better spent on stonks :smiley:

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