Hmm… sounds like a plan! 
Brb, I’ll need to talk to my sibling who I haven’t spoken to for a while. 
2 Likes
Preferably someone who will give it you back if Freetrade becomes a unicorn…
3 Likes
If?! If?! Matter of time 
3 Likes
Two things certain in life… death and taxes.
My only concern would be either Robinhood jumping in - if they throw in 100 million at a project they could very quickly overtake freetrade. A squeeze from other providers for people with small isas perhaps a mix of 10 free trades a month or no fees for under 10k would really hit hard I think. HL will do something. They will be well aware of Robinhood and Freetrade and believe you me both firms will read this forum have this app and will be monitoring progress. For now we are small and insignificant so they dont want to rattle anyone or anything. That will change.
Interactive investor reacted and don’t appear to have done that very well
1 Like
Agree about other providers, that genuinely worries me. but setting up a broker like freetrade quickly doesn’t come with more money, gov and regulation doesn’t move faster if you give them more money. RobinHood don’t worry me in the next couple years at least
It is above time HL lowered their fees.
Freetrade has first mover advantage, once you sign up for an ISA, you are usually not going to move. They will secure a lot of the 2019/2020 ISAs, but I can assure you Robinhood will come next year. Then it becomes a race to the bottom with fees essentially, there is no long term loyalty with brokers. It’s whoever is cheapest on a particular ISA year.
Perhaps Freetrade could do something to create loyalty
They can do lots of things - choosing a broker is not just about price. Freetrade just need to differentiate themselves with features, community, advice for beginners etc.
I’m quite hopeful for them and while there are lots of lessons to learn from competitors (both good and bad), competitors are a good sign, and not something to worry about.
2 Likes
People saying robin hood will destroy freetrade is like saying AJ Bell will destroy HL. People will go to one of the other, or being completely honest if you have enough money you should probably spread that money around as many of them as possible.
Plenty room in the market for more than one discount broker.
You never know, Robin Hood may buy freetrade for £1 billion+ …
4 Likes
Robin Hood is more trading than investing isn’t it?
1 Like
We’ll agree to disagree. I’ll give you an example of how I, as a consumer, think about financial products. I have no loyalty to a bank that preys on me and uses information asymmetry to catch me out with fees. I have no loyalty when little of the profits are invested in customer service or a better UI/experience. I have level 9999 loyalty to my current bank that has my back.
As a consumer, I find trust is the most important driver of loyalty. As an entrepreneur, the only kind of product I want to build is one that puts trust first. Simple, fair fees are only one aspect of how you build trust with your customers.
19 Likes
I think they already have, by giving the opportunity to buy into Freetrade from beginning and extra bonus rewards for doing so. I thinks competitors are going to come up with something move my account.
You can with incentives, like cashback or lower fees for loyalty.
Where do we guess the share price may be for this round ? 0.75, 1.00 ?
Why do you think so low?
I really don’t have a clue, was throwing it out there. You think it will be over £1 ?
20,000 users, ISAs, new investment platform being worked on, Apple and Google pay top ups and everything else on the roadmap; it’s got to be significantly more than £1.
1 Like
I hope you are right, one of the best things I ever did was buying this in R1.
2 Likes