How many users now?

Not sure this is the case, if you look at the roadmap, ā€œrolling out Freetrade to Europeā€ is back in the ā€œthings we’re working onā€ section

Probably was moved back to avoid noise :slight_smile: it’s also last in the list so certainly not a priority which is sad.

How naive. Re-read and It was number of users that they added this year. Indeed it is 1b per million users roughly landing in 300m zone for FT. Yes.

I think European expansion is a key and need to move quickly in those arena once the platform is proven to scale up and perform.

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Bear in mind RH decided not to launch in the UK, I think given the regulation the value per user is likely considerably lower.

Also RH makes disproportionately more money from derivatives which FT won’t offer.

So sorry about that! :woozy_face: Here’s what I got from him (his free share was Dominoes)

image

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There will also be nothing stopping Freetrade launching in the USA/Canada when the time is right.

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Looks like the 12th October ā€œBirthday Bomberā€ is still on like donkey kong :rofl:

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Mate signed up Sept 24th 2411**

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My mate just signed up today 243,94*

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Since it’s not launched, probably not.

Just persuaded someone from Trading212 to see the light - 2442XX

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I’m not a marketing/advertising person so the following opinion might be weak or invalid but …

I am getting worried about the lack of advertising by Freetrade. On Twitter today I have seen numerous ads by Trading212 and something called AvaTrade, who the hell are AvaTrade? never heard of them until today, but now I have heard of them and so have potentially MILLIONS of people - you know how many Freetrade adverts I have seen on Twitter? ZERO. Which means the only people who get to hear about Freetrade are the people who already know about Freetrade.

The reason I am worried is because Monzo had this whole word-of-mouth push and now every other bank in the World is pushing their adverts saying their app does this and that and I think to myself ā€œMonzo already do that better, but no one knows Monzo do that because Monzo aren’t telling anyone!ā€

Maybe Freetrade are waiting for their Plus account to be in a ready state, but I don’t want some crappy little upstart taking all the customers because they shouted louder.

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I get the concern. I think they need the right people in charge for this but it’s not necessarily an issue.

You point to monzos word of mouth approach. Staring bank essentially did the same, but they did push a tv marketing campaign last year when they decided it was the right time to do so. That seemed to work really well for them and now they have a new referral campaign. Slow and steady have worked really well for starling and despite monzo having more users starling are the ones looking to be making money this year.

There’s also a lot of untapped customers to go around. And I’m pretty sure Freetrade have had ads before.

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Monzo is a bad example because, they have a pretty dominant position in the neobank space in the U.K. Still fastest growing bank in the U.K. by some distance also. As for Freetrade I agree that it’s a good time to push with advertising. The only thing is that effective advertising costs a lot of money, perhaps they are waiting to conclude Series B before pushing this agenda who knowsšŸ˜…

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I hope so, I think this is a solid product and I would hate hesitation (waiting for the perfect product) to lead to failure.

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Maybe, I do think an advertising campaign has to be part of the 2021 agenda. I agree it is expensive and so I would hope some smart people (which we know Freetrade have) could cost-benefit analyse any such campaign to ensure maximum returns.

It has been mentioned before that people believe once SIPP’s are available in Freetrade we should see a dramatic increase (assuming a competitive model) and maybe that is a good time to drive a marketing campaign?

I think it may be best until they have the Plus offering fine-tuned. Otherwise they’re advertising to potential customers who either just use the free account or who are not impressed enough with the Plus account and go elsewhere.
You need to be bringing in customers who are willing to pay as advertising is not cheap and we already have a decent stream of new sign ups everyday anyway.

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Fair enough, I will continue to watch how this unfolds. I just noticed there is going to be an Ask-Me-Anything session with Adam on Tuesday 6th October, perfect for my question!

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The stock universe is getting to the point where a campaign could realistically achieve a decent conversion rate. Feature wise they still have a lot to do, but agree with the point that there has to be a balance between user growth & product perfection.

I’ve been really impressed by the growth over the past 3-6 months, 400 new stocks last week & 100 ETF’s this week continues the momentum. I think a campaign that coincides with the 2021 ISA season would make a lot of sense

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