Just trying to raise a bit more awareness of FT.
Does anyone have a new user signup number?
Friend signed up this afternoon 872,8XX
Thanks for sharing. Love this thread.
Noice. Tracking at slightly higher daily rate of approx 1.6k for the past 7 days. Pretty much 3 months out from the magic 1,000,000.
What should be the prize for the 1,000,000th new user?
1 Freetrade share
I know Freetrade is going to be a unicorn but we can do better than 1 share valued at Ā£3.77
2 shares?
A lock of at @Freetrade_Team hair!
I thought odd that II is the 2nd biggest trading platform in the UK with over 400k and FT has more than double the customers but never gets mentioned in the ābiggest listsā. I wonder where it sits compared to others?
I do wonder how many of the signed up numbers are either people who signed up to get a free share and that is it or did it as a youtuber told them to then gave up? My guess is a lot and I know 3 people who got partners to deposit for both to get a free share so those 2md accounts never got used after.
So my question is does anyone have any links to comparison stats of UK brokers?
We donāt know how many users are active vs signed up. Nor average rev per user. I guess those metrics would be helpful to say they are second biggest broker by numbersā¦? That said it would be great publicity.
Yep, it sure would. It surprises me how un-often FT gets mentioned as surely it is bigger than II in user numbers Would be great to see the UK ones by many metrics.
1 Freetrade share +
1 Freetrade sock (Halloween/Xmas Edition - number 1 of 1)
Plus 1 freetrade NFT
Now that could be a interesting PR stunt
As a way to procrastinate in work, I did a projection of what user numbers may look like. I have made an exponential trendline from March 2021 onwards, as the GME spike messes with the trendline of all data.
At the current rate, we are set to hit 1,174,482 users by Freetradeās next target date of the end of 2021. That is approx. 438,000 more users than predicted.
Thanks to @zaccharles for the data collection.
At this maturity not quite sure why youād use an exponential shape. But nice graph nonetheless!
The maturity was a concern for me too. Chose exponential simply because it gave the best R-squared result (which I know has limitations). What shape would you suggest? And thanks.
I am not an expert in modelling new usersā growth. However, using an exponential growth model does not sound to me completely out of place if you take into consideration the country expansions plans of Freetrade. As soon as the app is available in more geographies users will boost surely.