Help us name our account types!


#1

Hey all, we’re having a debate what to call the default investing account type you’ll automatically have when you become a Freetrade user and which we’ll have at launch (i.e. not an ISA).

Right now, we’re using an industry standard and calling it a GIA - general investment account, but we’re not sure if that’s the best name. Basic has been discussed, although basic is also the membership tier of ‘not Alpha’ and the term for our free orders.

We’d love to hear your thoughts and preference.

  • General Investment Account (GIA) - (what we have now)
  • Basic account
  • General account
  • Freetrade account
  • Investing account
  • Investment account
  • Something else (make a suggestion!)

0 voters


#2

How about calling it Standard? Then ISA is called ISA?

So Standard and ISA

Or how about Regular?

Feels like it should be a antonym of special, given ISA’s ( the other account type ) has special powers.


#3

Funnily enough, ‘standard’ was mooted but didn’t make the poll


#4

General is what I’m used to but that’s partially because I have no choice :smile:

Freetrade, Investment, Investing feel like they always apply.

Basic confuses things with the Basic Plan, but perhaps the issue is the Basic Plan should be renamed to something like Free? Which in turn frees up basic :joy:


#5

Personally I would go for Investment account as it differs from Basic trades = “trading” (which is intraday usually)

Also in terms of using “Instant Trades UK and US” which have a price at 1GBP

I would probably go with Daily Trade UK - Free* - where the * would mention at the bottom about Instant or end of day trade or link to some blog post (depending on what laws ofcourse). This sort of goes against the “mission” and the actual startup name “Freetrade”.

This ofcourse is a side by side comparison so some other things may apply, but as Freetrade is app based and this is the website/mobile version the former applies as this is something a prospect customer would look at before downloading.

Usually in the funnel of signing up you want to upsale the premium accounts after registration and not scare them off.

Note: I have done conversion rate optimization and A/B testing in the past for pricing pages, ofcourse take my word with a grain of salt like all things on the internet :stuck_out_tongue:


#6

Maybe Starter


#7

What about giving folk the choice to choose their own account name in app?


#8

Tributum


(Sergey) #9

“Client’s name” 's account


(Alex Sherwood) #10

A post was merged into an existing topic: Ask your beginners questions here :hatching_chick:


(Emma) #11

Freetrade XR and XS? :thinking:


#12

I agree. I think standard is good.


#13

Multivariate testing will find the truth but let’s take a guess at it…

I would rename “basic trade” to something like “end of day trade”, which more clearly explains the difference between an instant trade and what this is.

“Investment account” or “Standard account” might be slightly better signalling than “Basic”, once you have your gold/silver/bronze pricing segmentation in place. But given that you will launch with a single account type you could just call it “Account” for now!

I think there might be something confusing in the pricing grid at the moment where inside each price point the user is making secondary decisions that are different kinds of decision however are presented as if they’re the same kind of thing. One is instant vs end-of-day, a decision that the user will make every time they trade. The other is not-ISA vs ISA, a decision that they’ll make once I guess? Dunno, just wonder if particularly the basic account can be made to look simpler and an easier “ok i’ll do this” decision for users. Maybe you could present a third price point that was “Investment account plus an ISA, 3/month”, sitting in betw Investment account and alpha.

(And it’s obviously common freemium practice to add an expensive price point over on the right that you don’t actually intend to sell much of, but it helps increase purchases of the price point options in the middle by anchoring a high price. It’s an :roll_eyes: tactic but seems to actually work for many.)


#14

Purely out of interest, any timelines on when will the account names will be finalised & announced?


(Alex Sherwood) #15

We’ll probably announce this on Monday, to give everyone who’s read this week’s Weekly Wrap a chance to vote over the weekend, as that’ll be the first time that some of them have heard about this.


(Harry) #16

I would keep it as it is i.e. GIA

The name is referring to the tax wrapper; if you call it ‘Investment account’ people can get confused and think ISA or SIPP isn’t invested etc. They are the same investment, just different tax.

  1. ISA
  2. SIPP
  3. GIA

I think its fairly simple :slight_smile:


(Nathan Bratby) #17

+1 for Freetrade account.


(Chris) #18

Probably in the minority but GIA means Gross Internal Area to me.

I like the idea of calling it a Freetrade account because

  • That’s probably what I’ll refer to it as when talking to others.

  • It signals a subtle difference between Freetrade and other companies.

All the names kind of make sense so why not go with your brand?


(Gareth) #19

I’d prefer to keep it General Investment Account just because it fits with what is industry standard, when comparing with ISA’s and SIPP’s.

Plus I think it might lead to confusion between Freetrade Alpha and your Freetrade Account.


(Sergey) #20

Let’s not forget that the app is not intended for the UK only.

In France GIA is a meaningless term.