The pitchdeck was active users not total users
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Friend just signed up: 186,87*
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Dont forget the FX fee on US shares of 0.45%, Freetrade have said this is a revenue stream. I imagine most funded accounts will be paying a bit of this
While I love this thread, I thought Iād share this video from Amplitudeās VP of Product:
He makes a good case for not focusing too much on vanity metrics like sign-ups, because those arenāt necessarily leading indicators of recurring revenue. As Freetrade matures, its valuation will be tied to revenue, which in turn will be correlated with KPIs like # of trades per user per month, not sign-ups.
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I absolutely agree. For us users not having the ability to gauge any of the metrics that freetrade themselves would no doubt be using, as you have suggested, then I think this is still a nice one for users to be able to track ourselvesš
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Dont you think Funds will pay commission to Freetrade to be made available for ISA subscription? I mean it is 200k users and many active ISA users like me I hope.
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Iād rather FT avoided this way of making money personally (commission on sales), and funds in general.
Taking commission for introductions subtly misaligns incentives between company and customers, as HL customers who trusted their promoted funds have found to their cost, and in the long term would set the company against its customers. The real customers would become funds like Woodford, and the company would be strongly incentivised to mislead customers as to their best interests. Iād rather FT makes money from investors for plus, ISA and other products.
Also the vast majority of these funds make lots of money for the managers over their decade of existence and very little money for clients after fees. There is a reason most are so short-lived, and the same managers jump from fund to fund.
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Which is concerning when you look at the pitch deck as they had revenue per customer as multiple times that. I think theyāll do well, but it seemed ambitious.
I agree the assumptions in the previous pitch deck were pretty outrageousā¦
Hypothetically, I agree that without any context any fee paid by funds to Freetrade for its customers may be perceived as conflicts of interest.
If I may offer another perspective, although equity trading provides atttactive returns it also comes with high risks. Certain funds may be considered safer and should form part of an investorsā portfolio given its own diversification. To ensure that funds are marketed for customersā benefit, Freetrade would have to build fund selection capabilities (supply side solution) and provide suitable investor education and personalisation (demand side solutions), amongst others.
As mitigants are put in place, I do not see the collection of fees under such referral arrangements as indefensible. In fact if anything, it would be fair as fund houses are compensating Freetrade for its customer acquisition costs.
Edit: I acknowledge this answer does not fit under this topic, but am answering a direct comment made here.
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I think theyāre planning making money from currency exchange, ISA, SIPP, and Plus in the near future, so that figure should rise, but they do need to keep growing the user base significantly to do that.
Any new joiner to update numbers on this thread? 
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Yesterday my friend joined: 189 281
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Any new joiners should be at 191k by now
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I think a few more than thatā¦anybody know a recent number?
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Was Hoping someone said that lool
Friend signed up, now at 191,434!
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Currently about 500 a day thenā¦
