Freetrade Plus AMA with Freetrade CEO & Founder, Adam Dodds — 8 PM, Tue 6th Oct

Yes, we plan to record this one and put it on YouTube.


Are there any plans to offer multi currency accounts within Plus?

How will Plus look for EU countries that may not have ISA or SIPPs?


How are the plans for a series B raise going?
Do you still intend to raise in December/January. What do you wish to particularly channel this into?


When can we expect the Freetrade website?


What is the limiting factor in development time? Is there a plan to speed up feature and new stock releases?


What is you view on stock lending?


Do you think Freetrade is doing as well as it could be? If any, what areas do you think could be improved? Where does Freetrade excel?


The community represents less than 1% of the Freetrade user base. From your perspective with access to far more data points, do you find a lot of the desires and complaints here represent a vocal minority
, or are they representative of the overall user base’s behaviour?

(For example, interest in Plus with the current feature set and price, or the handful of people dramatically announcing their departure towards competitors)


What user acquisition strategies have Freetrade focused on so far this year? How would you rate their success and value? Are there any upcoming changes in this area for Q4 or 2021?


The community tracks the rough size of the Freetrade user base. Is this a metric that you think about and try to optimise for at the moment? Why or why not? If not, when and why then?


As a large founding investor I am struggling to see why people would pay for Plus (and it kills me to say that).

The main problem is that the free offering is so good.

If you told a HL customer for £120 a year you get a free S&S ISA with unlimited trades - they would think it was great value…(although when you dig in to the forex fees for large transactions not so much).

But tell an existing FT customer (or a 212 user etc) they have to pay another £84 a year for stop losses and limit orders and some more shares and it doesn’t sound so appealing. I would guess (and I hope I am wrong) but I don’t think many existing customers are going to make the switch.

I would struggle to recommend with conviction the Plus account to friends when the standard account is so good.

I personally think it was a mistake offering instant trades for free on the standard account and can’t understand the reasoning for this.

Feedback across this forum seems to show that paywalling stocks is a highly unpopular idea - and I agree - no one wants to download the app to see a share they want to buy is behind a paywall. And it’s just confusing, what if you buy it then close your Plus account? What if you owned it before and now it’s paywalled? Simplicity is what makes the app great - this is not simple. It’s the opposite.

Would it not be better to limit the number of free trades on the standard account to 3 a month or something and open up the universe to everyone.

Then it’s clear:

Free users - 3 free trades a month and then any trades over that a small fee (£3 or something).

Plus users - unlimited free trades with stop losses and limit orders and free ISA.

Or if I am wrong - can you tell us what data says I am wrong? I would be the happiest person to be told that I am wrong!

I’m aware there are a couple of points in here - so apologies for the slightly rambling post!


I think rolling back free trades would be a disaster. Freetrade has already gone back on its word by moving current shares behind Plus and the paywall. Also competitors have adapted pricing models for offering away from limiting free trades in the free options.


Why did @Duncan say in a previous AMA that no currently available shares would be moved behind the paywall yet that is exactly what is happening with the current Plus offering?


Are there plans to support in-specie ISA transfers? I’ve got ISAs elswhere that I’d like to consolidate, but still keep my holdings without selling & rebuying. If so, when do you see Freetrade offering this?

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I’d like to see Junior ISAs but they don’t appear on the latest roadmap. I’m curious as to why they are not there. Technical challenge, lack of demand, mostly a younger user base?


When are Lifetime ISA’s going to be available?


I’d have thought Lifetime ISAs would do far more to attract NEW investors than SIPPs. That said, maybe SIPPs are more profitable for Freetrade?

Before Freetrade I’d never owned shares in my life. Now I have them here in an ISA and in a LISA with the truly dreadful (overpriced, incompetent, wonky platform) AJ Bell. Really I should move my ISA funds from here to my LISA to take advantage of the bonus but I enjoy being able to buy/sell so easily on Freetrade - it’s helping me learn a lot.

I can’t justify the cost of the Plus account until it includes the LISA, at which point it would be great value to me. Those of us with very small 3 and low 4 digit balances/portfolios in our accounts will always struggle to think of Plus as a good value until it has that killer feature we need - be that LISA or SIPP.


When will UK fractional shares be introduced? It would help with reinvesting dividends, and also would put an autoinvest more easily within reach.


Why does it appear that Freetrade is largely ignoring the concerns raised by your most engaged customers and investors over the planned direction of Freetrade Plus?

Also, given that Plus appears to be so UK centric, how do you plan to scale this when you expand overseas?


Any plans to add pies

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