Just about to ask whereās @Nialljmaher with his weekly question about numbers update!
Haha like clockwork
I used to really enjoy this thread but seems to have lost all momentum and interestā¦
It will come back to life with the EU launch and crowdfunding round in Sept
I guess most of the folks in this thread exhausted their list of friends.
Given Trade Republicās 900 mm war chest, it will be very difficult for ft to compete in Europe unfortunately. They were too slow to launch there and have been promising for last 3 years. Now itās probably too late.
Iām under the impression that brokers have been around for decades. They all been established at different points in time. Brokerage is not a new field. The emergence of Trade Republic is normal. Itās not to be dismissed. And itās not the end of the world. Without Trade Republic there would be competition. With Trade Republic thereās competition. Thatās life. And thatās good I think
I agree this isnāt a winner takes all market. Itās very comparable to neo-banks.
I donāt think itās too late, but it has become a lot more competitive since Freetrade opened up the Irish waitlist 2+ years ago!!
Iām still expecting a big uptick in users when once Freetrade eventually launches.
Anyone have a new user number?
Personally I think Trade Republicās commitment to fully launch in all Eurozone countries in 4 months is total BS and a marketing spin. But we shall see.
Considering that Hargreaves Lansdown is worth literally Ā£billions and has over a million customers and there are other brokers right here on home soil, Freetrade seem to have done very well in the UK; I really wouldnāt worry about a competitor in Europe.
Besides what are we actually worried about? That somehow every single European will refuse to use Freetrade because TR exist?
The aphorism "a rising tide lifts all boats " is associated with the idea that an improved economy will benefit ALL participants, and that economic policy, particularly government economic policy, should therefore focus on broad economic efforts.
Competition is a good thing,not to mention the fact that TR charge ā¬1.22 per trade(I think)
Second this. Their large funding round if anything is a sign for the huge market scope that is continuously expanding. Itās not a one player wins market. Freetrade is just getting startedā¦
Donāt forget they are using PFOF which will put a few people off.
I think itās fair to say most customers wonāt care āhowā their order is executed. Theyāll be most concerned with price and product experience.
Agree with posters above re size of market. Of course that much cash gives firepower, and there is an element of first mover advantage. However, the potential market is literally hundreds of millions people large and has barely been touched by the new brokers. There are also significant rules against monopoly power. For me, this raise shows quite how big the prizes will be in this sector.
Re user numbers, I think we all got a bit spoiled by unbelievable numbers a few months back. Itās harder to get excited now but itās worth remembering quite how good the growth rate still is - weāll hit 1m this year even without the expansion.
And I canāt wait for when the expansion comes!
I joined last week near a number 713000
Thatās great, thanks for finding this thread and posting!
As itās been so long since the last update (19 days I think), can you be a bit more specific when last week you signed up and perhaps a more detailed user number. A few days here or there can throw out the average daily new user stat that many of us are addicted to
And if you could refer some friends and keep us updated on their numbers, that would be great too!
I joined 13May as 7129xx
I have referred a number of my friends at UK with the link (offer for a free share too), but think they may be too fossilized to use FT
Thanks for sharing! Looking like we are chugging along at new user growth of ~1,5K/day. Octoberish for the big 1Mill I reckon