How many users now?

Freetrade Chat šŸ”„
4076

Just for the purpose of discussion, not saying itā€™s accurate:

Someone analysed Freetradeā€™s Companies House statement (year end Sept 2021) and worked out there was Ā£3.2M revenue from subscriptions.

Thatā€™s an average of approx 27K Plus users throughout the year (Ā£120 per user). Since in Sept 2020 they had approx 10k Plus users, letā€™s simplify it and say in Sept 2021 there was 44k.

Companies House statement also says there was 886,743 users in Sept 2021. That would mean approx 5% of users are Plus users.

Assuming same ratio of Total Users:Plus Users thatā€™s 69K Plus users today, or Ā£8,325,600 annual
subscription revenue.

ā€¦

If we can find estimates for retail trading volumes per month/year we could do some equally crude calculations for FX revenue - given it was approx Ā£9.8M year end 2021 :thinking:.

Or if youā€™re really lazy increase FX revenue by same multiple as subscription, which = Ā£25.49M.

ā€¦

Which would make annual revenue approx Ā£33.8M or Ā£2.81M per month. This sounds about right given Adam said monthly revenue was Ā£2M in Oct 2021.

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4077

They didnā€™t need to work it out I because it says it in the annual accounts

Transaction revenue for the financial year ended 30 September 2021 was Ā£9,408,000 (2020: Ā£1,323,000), which represented 74% (2020: 80%) of total revenue.

Recurring revenue for the financial year ended 30 September 2021 was Ā£3,274,000 (2020: Ā£338,000), which represented 26% (2020: 20%) of total revenue.

Should be interesting to see the new subscription plans in the summer.

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4078

Ah fair enough, glad itā€™s accurate.

Its been a while since I looked properly, might re-read it when I have a moment!

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4079

Reading my message as a quote makes me sound blunt. I donā€™t mean it to be. Was just saying itā€™s accurate.

Freetrade needs aggressive growth just to break even.

Sort of curious about how the EU launch is going and whether they have their own account counter.

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4080
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4081

So about 13500 users in 29 days going off this topics numbers. About 465 new accounts per day which is in line with the tweet.

Not to bad. Where did he get the 1.4 mil from? Not seen it mentioned

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4082

Itā€™s amazing to see how Freetrade is growing and theyā€™re already at 1 million users. In fact, they were at a million users last October if Iā€™m correct. Since we donā€™t have access to any financial statements, Iā€™d love to know how the company is growing month by month and how many users they have as of February 2022.

Well done Freetrade :raised_hands:t3::partying_face:

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4083

Please see How many users now? - #3998 by Xaba

4084

Long time without an update in here, anyone have a figure?

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4085

Iā€™m also curious, especially with the recent BBBY hype. Long live meme stonks!

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4087

1415000

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4089

Note that the figure back in July is July this year. An older topic has been merged into this one which makes those posts look older than they should.

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4090

Around 15,000 new users per month in the last couple of months.

4092

Any news numbers? letā€™s keep that topic alive please

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4093

Iā€™ll have a number for you in a few days. My brothers girlfriend is in the process of signing up :sunglasses: :+1:

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4094

1,425,2**

But not sure if this sign up was Wednesday (28/09/2022), Thursday (29/09/2022) or Friday (30/09/2022).

Hope this helps for the member who tracks the user growth rate

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4095

My daughter just signed up - user number- 1428856

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4097

When 1.5 M users?

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4098

At the current rate of around 460 new users per day, sometime in March '23.
Hopefully things will pick up with the launch in Sweden.

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4100

Once they hit 1.5 million sign upā€™s then that should equate to 1 million ACTIVE users! APPROXIMATELY

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