Freetrade Plus just ruined my investment strategy

It should do :smile: if it doesn’t I also have a thread for discussing Freetrades terms in more detail Seriously, Read the Execution Policy and the T&Cs - #14 by Eden

Legal documents are boring to many so as you’d expect it’s not a very popular thread :joy:

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Not sure who Ivan is, but thanks for your comment and I think we politely can agree to diagree. My assumption is that a community is open for members sharing all types of experiences, good and bad. And again my assumption is that Freetrade would rather be aware of both.

Here’s my thinking:

I have a strategy, I chose a provider based on that strategy and I now cannot invest via that strategy without the upgrade, therefore the strategy is ruined and I have already missed an investment date as a result. I appreciate you don’t agree, but you also don’t have sight of the strategy or the research and thinking behind it.

All the best.

You get us all interested what that magic fund is.

From my perspective: I was pissed off when they launched Plus because they paywalled stocks that were free before. I still think that was a bad move. However, for new stocks, I can understand the appeal of signing up for Plus. I understand that some Plus stocks are quite niche and not necessary for the common investor. The other features are interesting just not for me at this moment, so I stay with FT. I wrote here about switching to t212 but it would have to wait until April anyway so I still have time to change my mind. I am a bit more at ease now with Plus and accept that not everything can be free.

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Interestingly 212 and etoro have almost a carbon copy of some of their conditions around this area which is quite curious. But that’s another conversation for a different thread

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What’s the fund? If it’s so good by itself to move to another provider then surely it’s worth Ā£7 a month?

Thanks for this, there’s no magic, unfortunately. I have an approach that I’m comfortable with based on the data I examined from the past. Whilst I understand that this is no guarantee of the future, my strategy makes sense to me and it’s one I want to spend my time testing and refining/rebalancing going forward.

If it leads to any useful returns, or magic, I’ll share :slight_smile:

I get the feeling your ā€˜magic fund’ is simply leverage to complain. If not, why hide it given the nature of this thread?

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That’s not what you are saying in this thread: different people have different experiences and you want to share them. That is fair enough. But you start about an investment strategy that is made impossible by FT Plus and say that itr is one specific fund. I am interested to know what that fund is. I am not saying I will buy it, I will do my own due diligence and most of us will make an informed decision based on what you tell us. Example: I would like to invest in Belgian stocks. With FT I cannot do that but the alternatives that allow Belgian shares are not as good as FT. So I looked what is available on FT and I invested in those companies. Could I have a different investment portfolio, yes, but there is an infinite amount of possibilities. Just interested in knowing what makes that specific fund so special.

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Quite relaxed, thanks. The point is that when I tried to have this conversation via in-app chat I recevied no reply for 5 days which didn’t provide answers to all my questions.

Was this 5 days over Christmas/New Year, perhaps?

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Even I’m starting to become interested in this mystery ETF :smile:

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I think I’ve explained why I’m choosing the fund in question. Besides telling you what that fund is and opening myself up for critisim (which will happen - take for example the ā€˜magic fund’ joke made a few times now) or other suggestions, either of which don’t solve my issue so there’s nothing to gain. The only reason this thread is continuing is due to questions being asked or assumptions being made. I have my answer: FT have kindly offered 3 months free and then I have to pay the upgrade, or I transfer, or both.

Yes just after the bot suggested a wait time of a few hours.

So you don’t want to mention which fund it is, lest you encounter criticism. I see.

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Overall yes some arent happy with Plus but its not the end of the world and it shouldnt put so much of a dent in your strategy that £7 throws a spanner in the whole works surely??

As ive said previously about this topic also - people spend more than between £7-10 a month on coffee, lunch and other trivial items either on a daily or weekly basis and you dont hear a peep from them about how it throws off their end of month bills, etc.

Trading on sites like this typically (not always) means you have at least some disposible income. If Ā£7 is something you cant afford to spend each month then I’d guess your strategy may need some re-thinking. This is not an insult by the way, more a response to the logic most say on here when they post how the ISA fee of Ā£3 is too much or the Plus is too much.

One alternative you could do is, pay for Plus, buy a good load of whatever stock you need and then cancel your Plus. You can still keep the shares you bought while having Plus. You also will avail of the 3% interest if you choose to go with Plus which is a bonus as most ISA or savings accounts at present dont have that good a rate?

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I see, so common sense tells you that FT are closed, but because a bot said you’d get a reply in a few hours you are now using that as a stick to beat FT with. I don’t think that’s particularly fair, tbh.

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I hear you and I appreciate the sugestion. If I take the approach of ā€œit’s only Ā£7ā€ across all aspects in life however, these things do add up.

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No, I’m not doing that. I’m asking the question on here as the app didn’t help in that timeframe.

Asking the question would have been a topic called ā€œhow do I transfer my ISA away from FT?ā€, not ā€œFreetrade Plus just ruined my investment strategyā€.

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That’s certainly a good point. What’s the alternative though?

Vanguard is cheaper (for a while) but limited, HL is expensive depending on your strategy, and a lot are honestly quite expensive unless your making £10k trades at a time. As @CashCow said AJ Bell is expeneive.

I’d definitely encourage you to take a more wholistic view of investing and make sure your not just chasing the cheapest price. And I apply that to Freetrade as well, it has its downsides and risks as any other platform. But wherever you end up (I have a feeling I know where your looking) definitely understand what your getting and how your assets will be managed and ensure the risk is acceptable to you.

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