I’ve got my badge sorted 
… but yep badges are coming very shortly 
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That’s a nice looking badge there.
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that’s amazing!
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Ah! Compare our plans | Freetrade explains it all. I see why the pricing model has two dimensions, but I wonder if it’s going to be hard to communicate to novice retail traders.
“Free trades in cheapest ISA” will be a strong message. Basic+ISA is going to be popular.
And you can now tell when a team-member is posting - great, thanks!
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Hi, your pricing model doesn’t include a spread, will there be a standard spread model. Or will it depend on liquidity?
No spread. You get the best price available.
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How are you supposed to reach £1billion mcap and consequently make me a millionaire if you keep treating your customers fairly? Stop it.
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There will always be a bid ask spread when dealing in the market. It’s the “cost” of participating in the market. Equity markets tend to be very liquid relative to fixed income markets, so the spreads are quite tight.
Institutional managers are more focused on best execution rather than spread as the latter largely depends on liquidity. And I’m sure one of the guys at Freetrade have addressed the best execution policy in one of their blog posts.
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Just read about Acorn’s successful subscription model over in the states 
; bodes well for Alpha if this acceptance of a subscription model for investing can translate over to Europe 
in large numbers.
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I’m interested to know the reasons people would choose to pay for Aplha?
Generally, if you make more than 7 trades a month and if you want them instant - you would be better off with Alpha. This will not apply for long-term investors as often but those who day trade would benefit greatly.
Freetrade have also made it clear a number of times that Alpha will be continuously upgraded over time (e.g. SIPP availability).
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Why seven trades?
I’m a n00b when it comes to all this
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Generally, the UK brokers charge you £5 - £12 per transaction, regardless of its size. So if you buy company Y for £500, you will pay up to £12 for that and same up to £12 when you sell.
Freetrade is an unprecedented (for the UK) retail broker that allows you to make free unlimited trades regardless of the size. However, those trades are always made at the end of the day. Say you wanted to buy one share of company X for £500 at 9 am, by 4 pm the price may have fluctuated and the same share of that company could cost £510 (could also become £490). This is the tradeoff for free trades. If you invest for long term - it bears no significance at all so do not think there is a catch - it is that transparent.
However, if you invest frequently, many times within a day, making profits based on fluctuations, instant news, etc. (not the case for a lot of investors), you will benefit form Alpha as you pay £10, of which £3 cover the ISA and £7 is your breakeven point where the value you get exceeds the price.
After all, you are comparing £10 for unlimited everything per month vs £4.95 - £11.95 for one (!) transaction with brokers like HL, IG, Barclays, and others.
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Thanks, that’s really clear 
Interesting times
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Interesting read on valuing subscription based/user based businesses.
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Why will it cost £5 for basic users to receive same day withdrawals?
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This is just a guess but obviously Freetrade isn’t a member of the Faster Payments scheme so I expect they’re using a partner for same day transfers & this covers the cost of providing that service. This fee wasn’t mentioned as a source of revenue in their crowdfunding pitch deck.
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Can you start with a free General Investment Account and later on decide to to move it into an ISA? Or do you need to start again from scratch with the ISA and end up with a GIA and an ISA?
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I’d be interested in official confirmation of this from staff and whether Faster Payments is likely to be on the roadmap.
Page 26 of the Pitch Deck doesn’t mention the fee at all.
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This might be a few years out of date, but my understanding was that you have to sell any shares you want to move to an ISA - then use the funds to buy them again inside the ISA.
It’d be great if someone in the know could confirm. If it is correct, it makes me wonder if Freetrade could automate it? But I suppose there may well be complexities, like capital gains tax…
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