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.
Hereās 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 donāt agree, but you also donāt have sight of the strategy or the research and thinking behind it.
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.
Interestingly 212 and etoro have almost a carbon copy of some of their conditions around this area which is quite curious. But thatās another conversation for a different thread
Thanks for this, thereās no magic, unfortunately. I have an approach that Iām 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 itās one I want to spend my time testing and refining/rebalancing going forward.
If it leads to any useful returns, or magic, Iāll share
Thatās 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.
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 didnāt provide answers to all my questions.
I think Iāve explained why Iām 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 āmagic fundā joke made a few times now) or other suggestions, either of which donāt solve my issue so thereās 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.
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 Iād 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?
I see, so common sense tells you that FT are closed, but because a bot said youād get a reply in a few hours you are now using that as a stick to beat FT with. I donāt think thatās particularly fair, tbh.
Asking the question would have been a topic called āhow do I transfer my ISA away from FT?ā, not āFreetrade Plus just ruined my investment strategyā.
Thatās certainly a good point. Whatās 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.
Iād 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.