How to be Wolf of Wall Street - The Sun

Article on Freetrade and other free trading apps appears in the Sun! The Freetrade momentum grows, this will reach a wide audience!

https://www.thesun.co.uk/money/8948697/wolf-of-wall-street-trading-app-tips/

And congrats to Jonny with 7.3% gain since November and appearing in the Sun! :clap:

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“There is also £7 a month for its premium service, Alpha, to be launched after the summer, which will cover fees to make instant trades, and ISA fees.”

Has this been mentioned before ?

Ouch :fire:

ARE THEY SAFE TO USE?

If any of the platforms mentioned here — aside from the foreign bank Revolut — goes bust, you are covered by the Financial Services Compensation Scheme

Not stictly true either as you do have a level of cover with Revolut’s emoney license

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There is cover in sense that the money is held by a third party and Revolut would never touch this, I think the only way this would not be secure would be if there was fraud or something. But there is no cover by FSCS until they get their full banking licence as I understand it…

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Great find. Thanks for sharing.

Thanks :slight_smile: I think I might of mentioned Greggs a bit too much during the interview though

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With all this publicity it will be fascinating to see user numbers in June.

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Congrats to Jonny for being featured and making a good return, but I don’t think it’s good for Freetrade to be associated with “Wolf of Wall Street” style trading. The article essentially encourages the idea of taking gambles on particular companies for emotional reasons.
It’s really the opposite of long-term investing, which is what I think Freetrade wish to encourage.
For reference, VWRL, a global ETF with effectively zero non-systematic risk, is up 7.46% since November. And it didn’t need the luck of investors liking a particular menu item to do it.
When will the popular press get behind the unsexy but safe and rewarding world of broad index trackers? :pray:

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The day it sells papers

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That’s a great film :grinning:

We don’t definitely don’t want to be associated with the Wolf of Wall Street style behaviour of old school stock traders though so that is a little bit unfortunate. Having said that, to The Sun’s credit they only really used it, plus the dreaded t word (trading), to hook people in.

So although there’s some truth to what Raul says, this really is a great message -

Challenger firms with low overheads are offering cheaper services to lure a new generation of investors fed up with poor returns on their cash savings.

and if newspapers and magazines are happy promoting the best savings accounts, why shouldn’t they be willing to promote investing too, now that it’s accessible to everyone?

Up until now investing has generally been promoted as something for the wealthy or ‘alpha male’ traders but part of our mission is to change that.

You’d never have heard a story like Jonny’s until recently because it wasn’t possible to invest £100 a month without taking a huge hit on your returns from the fees that the incumbents charged. But obviously saving & investing a small amount on a regular basis is far more achievable for most people than accumulating a large fortune & then investing that.

Now that we’ve removed the barriers, hopefully this will become a more & more popular thing to do & the newspapers can help us make it seem normal. Maybe one day Freetrade will be as big a part of pop culture as The Wolf of Wall Street :smile:

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11 posts were split to a new topic: Comparison sites

I completely agree. I have been an ETF fan for a while now and have made good returns :turtle:. There is also a lot to be said for individual stock selection though. Higher risk but possibly higher reward. Some people just like the thrill of it all! :rabbit2: I also see the FT bubble as a safer environment than most for beginners to learn.

I think the Wolf of Wall Street association is more the journalist’s attempt to use reader freindly links to the markets. I do not have any issues with the mention personally.

Congratulations @Jonny and onwards for the FT revolution! :chart_with_upwards_trend:

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I hate papers like the sun, but I love this article and the fact that freetrade is in a paper like this at all. I actually think it’s very sensibly written, but as has been said, it’s the sun so it was always going to have a provocative title, ‘now anyone can invest diversely for a long time to help for retirement’ doesn’t have quite the same ring to it :joy:

Honestly though I grew up in a very working class household where the sun, news of the world etc were and still are the papers of choice. A lot of people will get their financial advice and habits from their parents and what they see people they trust saying and doing (including these papers for some reason). For example over the space of 10 years my parents saved for me £1000 to help me buy a car when I left Uni. My family, grandparents, extended family, their friends or anyone they trusted didn’t know anything about what to do with money or savings, my parents will have just had money dripping into a savings account for 10 years. I am forever greatfull for this cash injection at a crucial point in my life but I know if my parents and wider community understood more about investing and that it could have added 50% to their savings (I’m thinking more broadly than my car money! :blue_car:) they definitely would.

I can guarantee there a lots of smaller savers who just put it in the bank, at best savings will go into a cash ISA simply due to the fact their family and friends don’t talk about this. So the fact it’s in a mainstream paper may seem small but I am genuinely excited by this and think it’s huge! :blush:

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Brilliant exposure for Freetrade and the other challengers too. Ordinary people SHOULD know about this. People just think they have to take their 1% cash isa from the bank and like it or lump it.

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My parents have saved hard all their lived but are so unnecessarily risk averse it pains me. It’s just the “done thing” to put it in the bank.

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Great post. I agree on the sentiment that when growing up I thougt of investing as a scary, complicated thing where you can lose all your money. I only started investing about 3 years ago (mid twenties). I read about Vanguard mutual funds on reddit, then spent about a month researching in my free time before putting in £1k. I then told my friends about what I’d discovered, which they otherwise wouldn’t know about. One of them started investing in mutual funds as well and even gave a talk at his work to other people about investing in the stock market.

I agree, the more knowledgeable people our age are about investing, the better. What do people think banks are doing with the money that’s sitting in your cash accounts.

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