Reckon it’s all mixed in with the effect of unlimited referral bonuses though. When they curtailed that down to 10 a month unless you’re on their special list, they sort of took some control and responsibility for the influencers and whether or not they behaved themselves.
Will be interesting what direction they go in in the future with social stuff.
The second supervisory notice states with reference to the directions given: They are to remain in force unless and until varied or cancelled by the Authority (either on the application of the Firm or of the Authority’s own volition) .
Good article but not sure FT would agree with “Its expansion into crypto marks another bid for market share in the competitive day trading space” unless they do secretly want that whilst saying the opposite publicly about long term investors focus and not for day traders
Other than that, it is a really good article with some positives and worrying at the same time especially the comment "It smacks of wishful thinking.”
There is a correction at the end of the article. But the bit that you referred to is not corrected, thus one can only assume that Freetrade agrees with the basic idea that its growth in some part is dependent on Crypto trading.
But more generally speaking the following comment is quite pertinent to stock broking in general:
The results of a company in an industry that has seen its fees decline as the boom in actions of memes during lockdown subsides.
The point is that in one form or another stockbroking depends on trading. So a naïve thought might be no it doesn’t for Freetrade. But of course it does as Freetrade will make money on FX. This is why foreign denominated shares really matter to Freetrade. Fundamental part of the business model. Just for completion - yes of course it matters for all other brokers too. Perhaps we should be really happy about all the people talking about “to the moon US stocks” be they mining or meme … they are helping Freetrade’s revenue. Perhaps those with large static pots inside a ISA (r.e. no share lending) make little difference.
Interesting how all these things interplay.
So at least another 2 years before any chance of getting some cash back from my investment
That’s correct @adam has always said IPO 2023 BUT I would say now it won’t be till 2024/25