They havenāt made it public, but someone on this forum speculated that its CurrencyCloud and the underlying bank is Barclays. (I have no idea if this is accurate).
Re this situation, FT does the best it can. It is not their fault. I wonder if they can onboard another provider over the weekend.
Please everyone take to this thread to defend Freetrade and their forced position. here.
Some clarifications Iāve made you can modify and paste.
āPlease reserve your judgement. Freetrade are for the people! They are unfortunately at the mercy of their FX clearer who has caused this. Unlike Robinhood, Freetrade has no connection to any hedge funds or institutions. They are just as upset with this decision as we are!ā
āFreetrade have no vested interest to do this. Do not point the finger at them. This is HUGELY disruptive to their growth and their brand. They will be doing everything they can to fight this forced decision from their FX provider.ā
Freetrade army itās important we come to their defence here. We NEED to clarify this is not market manipulation and Freetrade has been forced. Please take to Twitter and Instagram to defend and help explain.
The problem is, that these people over reacting because their massive gamble is at risk are even commenting on the actual post explaining that itās not freetrades fault. How do you converse with people that brain dead?
I admire your commitment to the cause, however Freetrade have onboarded close to 100,000 gamblers within a week and now the roulette wheel is broken. It doesnāt matter whose fault it is, they are going to get annihilated on social media and we will just look like muppets with vested interests trying to excuse them.
Boy oh boy! Have had to be very strong and disciplined and not bite at some of the posts on here today, especially from new posters. Many years of hard learning paying off. Showing everything that is wrong about social media. Blame, blame, blame prior to engaging brain and dealing in facts.