I am both an investor and user. Hence, I am chomping at the bit to open a SIPP then transfer in my old one for which I am paying crazily “incumbent” fee level. Also, I am quite frustrated with overly enthusiastic communication/PR monopolising all the attention on back end infrastructure, mostly for the future benefits of engineers and devs, because let’s face it, nothing much has changed for users or investors.
Indeed, free instant trades…for “investors”, whom say is the main target market, but saving £1/trade is no game changer for investors on 3-4 trades/year and was not going to be a major earner anyway in light of competitive offers and pressures from Revolut and RobinHood. Markets access, products, functionalities and account types now matter the most for . Consequently, the better the “markets access, products, functionalities and account types”, the more clients will join/trade/invest and the bigger the top line will be for . Thus, both users’ and investors’ goals are aligned here and differentiating/opposing theirs goals misses the point as both will be satisfied through the same means:
- markets access (which exchanges we have access too)
- products (number of stocks, other instruments, non-listed primary equity issuance from Seedrs/Crowdcube, etc.)
- account types (SIPP, all types of ISAs)
- functionalities (limit orders, stop loss orders, multi-currency accounts, brokerage/crowdfunding accounts aggregator + integration with all share certificates in 1 place, integration with SeedLegals ,etc.)
Now you might say, nothing has come yet from the “platform” but much will and you “ain’t seen nothing yet”. Indeed, I ain’t as on the roadmap except missed ETAs, I can see no change, no new features, no communication whatsoever. Let’s wait and see what big “reveal” we might get on 18th March “Freetrade 2020 and beyond”. I suspect no one at will say anything until then because of what they have chosen to announce that will make me come back on this thread and make amends. I can’t wait