Maybe I was wrong, at least to an extent.
I think the up and coming direct competition might not be 212 as I suggested, but CMC invest.
My reasoning is: they do charge fees like freetrade do and the fees are at least somehow similar to freetrade.
I have heard that while their stock universe isn’t as big as freetrades is, yet. Thier universe will satisfy most.
So many posts (3 of mine now) with no swearing, stating facts, and helpful info to others REMOVED! The level of censorship is crazy!
Ny other account got banned foe 31 days due to having a reasonable opinion tbf
Its as if you disagree and have an opinion, your penalised. I had the same last time the price went up from 2.99 to 4.99 just last year! Guess no-one wants to hear how a FTSE100 company can work out cheaper with a £45 pa cap.
Depends on how your investing
A terrible idea.
Most investors prefer fees not to come from their tax free accounts as it lowers the amount they can invest tax free.
Most investors thus ask brokers if it’s possible to pay fees separately or from their GIA account
As others have said, its disappointing that Freetrade didn’t compare your new fees to other brokers. Not just T212 but also i-web and dodl.
In addition, it would have been good to see a table comparing the relative costs of buying UK shares, not just EU/US ones.
How is it a terrible idea when lots of people have asked for it as other providers do offer this? I specifically said as an extra option. Most pensions do not want a monthly fee paid by DD.
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iweb has a one off account opening fee of £100 (although this is currently refunded for new ISA applications as a promo offer) for an ISA, but no ongoing (annual/monthly) charge for the ISA wrapper. But they charge £5 for each sale or purchase, whereas Freetrade have no buying/ selling charges. So for an ISA, any more than 12 sales or purchases a year (one per month on average) would mean that you would be paying more at iweb than at Freetrade (based on the £60 advance payment annual charge). iweb also have a hefty FX rate charge of 1.5%.
Dodl have a VERY limited selection compared to the full fat AJ Bell version, so not really comparable? They also only accept UK citizens as customers, so if you are an EU or non EU citizen (but not a British citizen) they don’t want you as a customer, even though you are a UK resident - no matter how many decades you have lived here… Not sure why discrimination on this basis is legal, but I guess it must be as that is their terms.
There’s no Fx so its £0
Etoro has introduced a no fee for the first year ISA.
Good to know thanks
For once I actually like the change! Would be better paying the fee out if the SIP but being able to pay in one lump is much better psychologically as funny as that sounds only being £9.99
Pay more at the moment but as it’s lost in the pension not so motivated to change top priority now when the changes come in
It’s not a terrible idea for Freetrade to add it as an option, But I’d says it’s a bad idea to take that option. You’re limited on how much you can put into an ISA, You don’t really want any of it going on fees
This.
The money I put in an ISA can grow tax free for ever, I want to maximise it.
Really you want to pay an ISA fee from a GIA. And pay a SIPP fee within a SIPP.
I have watched the pod cast not sure their figures on free trade are correct if you have a gia and trade U.K. shares only there are no fx fees to pay so it would be free still. they mention t212 and say you have to agree to share lending when freetrade were going to do this loads of people were not happy.
They transfers in but not out. In specie that is?
Is that correct?