Odd that this was a cash only transactionā¦
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This. Iirc crowdcube even warns you that thereās never even a guarantee of an exit strategy even if a company is successful, so although itās a huge bummer most of us have ended up losing money on this at least weāre seeing any money at all.
I was lucky to make a tiny bit off profit from Nutmeg which I also bought into at the same time, but at the time believed Freetrade was the better choice ouf the two.
Iām an experienced investor and I am aware of all of the risks. I have made and lost money on crowdfunding over many years. I am not screaming blood murder. Just saying that various regulations coming out such as consumer duty will mean that things such as the preferences will need to be explained a lot better in the future - and should be - given how widely marketed some crowdfunds are. No one from FT ever steps in and makes any points around VC shares when they were previously talking about share price going up. Yes DYOR is always true, but crowdfunds are marketed to a huge customer base, and unless someone has a very strong knowledge in doing these things professionally they will not have the awareness of some of these nuances.
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I was thinking the exact same thing. Great minds etc 
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Thereās no downside to hyping things up in such a way like this
Yes but makes it especially odd this was not a stock for stock saleā¦
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Being a bit pragmatic, Iām now thinking that Iāll take any money that I get back from Crowdcube and lump it all on IG shares. Maybe Iāll make a profit after all.
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I will be doing the same but need to do some research. Is there a charge? Im I right in saying the stocks/shares will be like for like transferred and not a sell the shares and transfer the money type of transfer? (as currently in loss atm but would rather have my shares/money in another platform after the disgrace behaviour of FT)
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I did not even get my swag bag from the last round of crowdfunding and now I am getting a loss on my investment to rub salt in the wounds 
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Itās probably not a good idea to carry on about preference shares, legal action etc. if you donāt want all but the most vanilla investments locked behind high net worth / sophisticated investor checks in the future.
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Iām now more of an experienced investor now compared to then too, but this ānuanceā is something I only became aware of after doing my own research (a bit too late in this case), yet if I had done my own research prior to buying FT shares as I should have done, then I would have been aware of it like just like everyone else should have been.
But yet again companies do overcome that initial VC tanking. Hell just look at Reddit for example which most people (including myself) didnāt not expect to be doing this well especially this soon, and I bet that if Freetrade had made us all profit (and lots of it) then you wouldnāt be here calling for more regulation nor would the other numpties be calling for legal action.
Iāve just opened an account with Robinhood. Too bad RH are not accepting account transfers yet. I will leave FT ince RH start accepting account transfers in the UK.
Shares can be moved like-for-like yes although, in reality, there is limited difference.
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Robinhood are very different and offer a very different type of platform so it is not the obvious choice to move to especially given the clear and constant breaches of rules by Robinhood.
Comment from Reddit:
āIronic that my investment into an investment company turns out to be my worst investmentā
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Iām not calling for more regulation.
Iām stating that Consumer Duty regs mean that companies will really need to be clear how they market such crowdfunds - a blanket DYOR when itās target at a mass of retail investors may not be sufficient in some cases. I can say I think something is unfair without it being illegal or immoral or bad practice in anyway.
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2025 -
A strong year for US Financials sector?
(JP Morgan, Goldman Sachs, ishares S&P 500 Financials Sector USD (Acc)
Just putting that insight out there to ease the pain of this Freetrade announcement.
I were one of the FT investors who lost faith in the talent of the management and sold privately 100% of my holding even with it being a bit of hassle back in the hype days.
What done it for me was having my isa with FT in 2021 but not having access to buy into BAE as it was not on the platform and the shares were trading at an incredible price, so I purchased through AJ Bell at the time and then went on to sell all positions in summer 2021 on FT.
I think a story like this solidifies the theory that for the UK you should be an owner rather than an outsider. Do the hard work yourself for the benefit of reaping the higher rewards.
I really thought there were some well deserving FT millionaires on here 
Pretty lame as (most of you) are awesome people.
Anyway as I mentioned above, the US Financials sector looks positioned for 2025 - 2029.
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I highly doubt there is a case for Consumer Duty hereā¦ founders and shareholders have to look out for shareholders and in this case 75% of shareholders are happy with the sale priceā¦
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