here comes the backlash from people thinking this is a day trading app and something out of Freetradeās control
To be fair, it is incredibly frustrating even if youāre not a day trader. Giving Freetrade 0 notice is just not good enough. Closing off the entire US market is ridiculous of the FX partner.
Freetrade getting shafted by their US partnerā¦why isnāt this surprising me as much as it should?
Edit: FX providerā¦my bad, Iām a suckered for a good conspiracy apparently
Not our US partner, our FX provider. Weāll share a message in a minute.
Sooner the better!
It looks like the extra volume that all brokers are seeing puts pressure on all the bits of the tech stack and third party service providers start to throttle access to their service. (FX provider in this instance)
I guess once this happens, FT has the chose the most sensible approach: allow people to sell, so they can get out, but restricting buying.
Not much they can do about it.
Not sure I buy that. If it was the case, the FX provider could have informed FT of it far, far sooner. It stinks that FT only found out right at market open, and seemingly at a momentās notice. A surprise attack on them.
Sack the FX partner. They lose our business.
I think you should be looking now for new independent FX partner. Otherwise please consider removing āfreeā from FreeTrade.
Watch how quickly these new customers turn. I said yesterday the market conditions will cause a lot of distrust and itās something freetrade will have to stay ahead of. This will be a real test for freetrade in how this is handled. Not every user growth is good growthā¦
I hope all those who have been on twitter the last few days getting referrals will now also be on twitter defending Freetrade
It feels like when a load of people turn up at your house party and you donāt want then to piss in the sink.
I totally agree. Thereās a lot to be said for some voices of reason in all the chaos right now. I know thereās a lot of extreme comments on Twitter but adding a few supportive ones can help limit the reactionary damage that this incident out of their control is having.
Letās all take to Freetradeās twitter thread and explain this decision was out of their hands please. FT are just as unhappy as all the new spec buyers are with this forced position. Important we clarify that.
You are not being called on to pump referrals @Juno17 ā¦ Itās to defend Freetradeās forced hand with their FX provider. Please take a moment to read the thread before commenting.
Surely Freetrade havenāt blocked you though?
Iām talking about responding to negative comments on Freetradeās twitter.
I did read the thread. Sit down
Ok Iāll go on Freetrade and defend them right now !! Goodbye back in 5ā:raised_hand:
One more thing. Who is Freetrades FX provider? It will help strengthen my support.