Has there been any ideas or comments circulating about a ‘lite’ plus, so a lower monthly payment for the users that don’t have such a high portfolio to warrant the fees.
So for example… 4.99 for just access to limit orders, or just interest on cash held… Even if its a lower interest rate.
Or as suggested by someone else, just access to pay walled stocks.
Yet another suggestion of how to squeeze the limited money FT make When will people understand that the platform needs to stay simple and not have layers of access. 1 simple plus is the best and adding mid prices will just mean many will reduce to the lite version.
Next would come the demand for more tariffs and on and on. Keep it simple FT
Sure. While we’re at it let’s have Freetrade Plus Platinum and also Plus Platinum Light. Why not Gold and Gold Lite, too? More than one subscription type confuses users and carves up the benefits. That reduces the value proposition of the more expensive subscription type and reduces revenue. Less revenue prevents Freetrade from making the product better. It would also likely lead to penny pinching/nickel and diming type policies. The very extra fees here and there that people don’t want and why they choose :freetrade: over that other low-cost broker.
With respect to the OP, pay for Plus if you can justify it. If not, don’t. Plus likely isn’t designed for small portfolios and you don’t really need it. If you think you really want it, but can’t justify the cost on a monthly basis, subscribe once every few months and then cancel. Limit orders last for 90 days, so that would be covered.
It’s not squeezing the limited money FT make, in contrary it seduces people who are on FREE or ISA only subscriptions to plus. As for now I don’t see much value for me upgrading from 3£ per month to 9.99£ per month. If there were more cheaper options like 4.99 or 5.99 with feature I needed, I may be tempted to join the Plus Lite.
I don’t need the interest rate and hold mostly vanguard and ishares etf, paying 300+% extra fee doesn’t make sense for only the limit order. I can just use notification service from other platform and buy it on freetrade.
The thing is that all the assumptions in this thread - mine included - are made without access to the data. Those proposing a lower-cost subscription are effectively saying that they think the company is making a mistake/has made a mistake with their pricing. Essentially, that they know better than the people at the company. Without access to the same data :freetrade: has, we simply can’t know. Chances are that :freetrade: knows best.
Isn’t that all of the Plus features except the interest?
But… presumably if you’re investing, you have a cash buffer somewhere for unforeseen circumstances. If you stick £4000 of this cash buffer in either your ISA or GIA, you’ll earn enough almost interest to pay for plus (it’s about 10p short).
How much interest are you really earning on that £4000 somewhere else anyway? That becomes the true cost of signing up for Plus.
It just seems like unnecessary faff to have to park 4k in there to get Plus for free. Added to the noise of the subscription being taken from one place and added back elsehwhere.
It would less problematic if they just took the fees from the fund. I could then perhaps warrant parking 4k there to get the features that some other UK free trading platforms offer for free.