Gary, you’re missing the point here. You suggested that ‘people want a free service to give them what a paid for service provides’. Freetrade Plus isn’t a free service.
If you’re going to be pedantic, the FX cost is a charge on currency exchange not trade.
The trades themselves are free of cost other than government imposed charges.
You can join the platform for free, and trade big cap UK stocks and ETFs to your heart’s content without Freetrade taking a penny for themselves. You chose to pay a subscription for plus to get extra features.
If the service is free then we’re the product.
Either the business model is to loss lead with the ‘free’ account in order to upgrade people to paid for services or there is a source of revenue that’s intrinsically linked to the customer base. I would hope it’s the former rather than the latter because selling the customer invariably compromises the vendor.
If Freetrade is a viable business, it must generate revenue.
It’s called freemium. There’s literally thousands of companies doing it.
No you are missing the point sorry The reference is to the limit in place which is part of the FREE service and not the subscription entrance to other stock worlds. It may or may not be on a stock in the paid world but it is a business rule. The comment I was replying to is not about the warrants of the Plus service but the limits in place.
I agree the whole service is not free but the option is available for people to trade freely as well in certain markets
Haha. Yes. I know what it’s called. That’s what I described - a loss leader in order to upgrade people to paid for services. I am cool with freemium. I am not cool with free.
Exactly, Freetrade gives people the option to trade free and another option to delve further at a small simple cost. It really is that simple.
By definition, you can’t trade freely if there are restrictions.
Now you are being pedantic
You irk me so much, you’re such a shill. Yes people can still make money, but if you have something worth 50k that people are buying elsewhere and i come along and offer you 25k, i mean as long as you still make money who cares it’s half price right?
Why are you so against FT raising the cap?, if they do and it’s not necessary then what do they lose?what do you lose?,how does it affect you?
I see you on almost every GME topic yet you claim it’s boring. You are negative over all about it but pepper your comments with “i own a small amount “, “i hope the little guy makes money”, then jump in all GME threads to be over all negative.
Guess what Gary, if you don’t like GME or are sick of listening to it…scroll past the GME threads.
Nice attack but just nonsense FT are NOT going to make you sell at half price in any way shape or form!!! I like the sensible GME discussions but not my fault the crazies think FT is out to get them.
I have to say that I haven’t seen any evidence of people thinking Freetrade is out to get them. I have seen a fair amount of people questioning the single transaction limit - particularly as this isn’t prominently displayed in Freetrade’s marketing materials or its terms of service.
I started this thread as an opportunity to have a sensible debate. I also deliberately pitched it as an opportunity for Freetrade. IF there is a squeeze around GameStop (and, to my mind, that’s still a very big IF) then Freetrade has a spectacular opportunity to help its customers maximise their gains. This would boost the company’s profile and, I believe, accelerate its business plan. If it misses that opportunity, it could be a serious setback as it could dent customer confidence.
Again, no one is saying their out to get us!, this is a problem that shouldn’t exist full stop.
I know some people use spare change to trade and will likely never encounter the upper limit for it to be a problem but there are others that this will pose a problem.
I’m not only talking about GME, I’m talking about holding millions of shares in mining companies . ETFs and yes GME, I’m talking about having to faff about with breaking shares down to meet some arbitrary limit in order to exit my positions.
The limit could simply be removed and it will not affect anyone other than positively, even you Gary, when your couple of shares do well and you can sell with no limitations imposed.
If you want to get the app changed, the appropriate place in the forum is to add your voice and vote to this thread: Limit Sell 200%+
Just voted, guess who i saw on that GME thread yet again, being negative…hi Gary!
If it goes above the limit, freetrade may have to scramble for a new prime broker. That’s me two pense.
Nobody should be scrambling for anything. Freetrade’s contingency planning will have this covered.
This makes me rub my nipples.