How many users now?

Just trying to raise a bit more awareness of FT.

(1) Alan on Twitter: ā€œFreetrade new user growth has passed AJBell and Interactive Investors and is now closing the gap on Hargreaves Lansdown. Canā€™t wait for @freetrade to launch in Europe https://t.co/1ZrfeETesAā€ / Twitter

18 Likes

Does anyone have a new user signup number?

6 Likes

Friend signed up this afternoon 872,8XX

47 Likes

Thanks for sharing. Love this thread.

7 Likes

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? :thinking:

1 Like

1 Freetrade share

6 Likes

I know Freetrade is going to be a unicorn but we can do better than 1 share valued at Ā£3.77 :man_facepalming:

4 Likes

2 shares?

3 Likes

A lock of at @Freetrade_Team hair!

5 Likes

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 ā€œbiggest 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?

2 Likes

We donā€™t 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.

1 Like

Yep, it sure would. It surprises me how un-often FT gets mentioned as surely it is bigger than II in user numbers :stuck_out_tongue: Would be great to see the UK ones by many metrics.

1 Like

1 Freetrade share +
1 Freetrade sock (Halloween/Xmas Edition - number 1 of 1)

2 Likes

Plus 1 freetrade NFT :raised_hands:

4 Likes

Now that could be a interesting PR stunt :clap: :clap:

2 Likes

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 Freetradeā€™s next target date of the end of 2021. That is approx. 438,000 more users than predicted.

Thanks to @zaccharles for the data collection.

21 Likes

At this maturity not quite sure why youā€™d 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.

2 Likes

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.

3 Likes