Hard to really know, numbers are great, but after a certain point we donāt know who is signing up for a free share or who is building the next Ā£1m portfolio.
Though I expect once we hit 1.5m there will be a major announcement somewhere.
2023 Q1 should bring a lot of investors back and hopefully they come with their friends!
And does T212 still have the same app for cfd and shares? Honestly - itās like going to vegas and staying at a cheap 5* hotel and knowing you are subsidised by the losses of everyone at the roulette or poker table. Hopefully, their customers can comfortably walk past those tables as they enter and leave their rooms.
Freetrade wins on moral and ethical grounds for me.
When freetrade had 1 million sign ups apparently that equated to 650,000 active accounts so I would hazard a guess that they are just short of 1 million active users. Which in my opinion is magnificent. Does anyone know when the next country will be rolled out and what country?
Iāll be devils advocate here and say 650,000 active accounts based on 1,000,000 users was due to low interest rates pushing people to investing, plus a massive bull run.
It would not surprise me if this ratio of active accounts based on total users has dropped dramatically as increased interest rates have now pushed people to savings accounts with banks. That, combined with a turbulent market in 2022 surely means a lower ratio. Would be great to get this number though in any potential updates from freetradeā¦
Yeah. All valid factors but this is the killer one imo. Loads of random people (modern equivalents of the shoeshine boy) wanted me to sign up for a free share in 2021 and they were all new to it and āmakingā a few quid here and there on their bubble stocks. When that turns to -50% on everything, very few people will persevere with that.
I know a few of those shoeshiners who are holding big losses in the hope that one day it wont be a loss, but also a few who have nothing to do with shares anymore.
Freetradeās active users and assets under management is going to be awful. Under 500k active users is my guess.
I would also go for a guess at <500,000 active users.
I had 10 friends sign up at a similar time to me. 4 invested in the meme stock era, lost a load of money and stopped investing.
A further 4 stopped investing and cashed out when Freetrade restricted the GIA to UK stocks only and sold their US stocks. They just save in an ISA with their bank now.
So out of 10 sign ups, 2 are active users⦠1 being me!