I would pay for more features to be fair specifically the junior one on that list I would probably tick all of them other then crypto.
I really like freetrade and I like the fact there isnāt many fees so I donāt mind paying monthly for them only thing is I would like more data for the current plans I would not pay additional when Iām already paying to be a plusā¦
I dont mind paying another Ā£2 to hold an isa however they would really have to add an ability to organize investments into different custom named portfolios, as well as release a desktop/web app. This is the reason i filled my 2021 ISA up with trading 212 over freetrade.
I do still own an isa with freetrade but their falling so far behind feature wise its hard to justify keeping more money with them.
The fact that auto invest / organizing portfolios isnāt even an option ether shows that they have the feature ready or are simply not interested in developing this as of right now. I really think features that deal with shares and portfolio management should be prioritized over Crypto at the moment, as dealing with shares is rather basic compared to their rivals.
That is a very good point, and just to clarify I am a dividend investor and the ISA is a necessity already within this small space of time. I probably could have avoided the first year of having an ISA, but would have had to sell my shares, transfer the funds and then buy back just before Christmas, so I did it for ease.
They should make the first year ISA free as introductory and would give people chance to build up their portfolio before committing to paying the monthly fee
When I think back to the money I blew on pints and nightclub entrances in my early twenties not to mention smoking - I look at ISA fees very differently .
You should factor fees into the growth of your portfolio as well as beating inflation. We are investing in a live economy. Basically groups making & selling services or stuff
And they do more of that over the long term and we make money from that activity.
Do not quibble the price of a
Coffee. Plan for the long term. The only real alternative to an ISA is hoarding bullion or coins. VAT on silver has effectively stomped on the U.K. coin market and gold is now astronomical. However neither of these lose long term value.
If you only have one year of trading under the belt - maybe focus less on fees and more on returns and company research so the fees are factored in as a portfolio cost rather than a distraction from the HODL itself. I am only on the second year myself and swapped to FT from somewhere else (they shall remain nameless cough cough Barclays cough). And FT is cheaper!
This is the problem when youāre young and know one teachers you about money and investment. I was the same except the smoking. How many of us wished we started our investment journey at 20.
This all sound interesting but the questionnaire is odd for mentioning SIPP, as I would happily pay Ā£2 more if I then didnāt pay for my SIPP as I do now. Personally, I donāt mind another tier in the middle as long as they donāt mess with the all in option. If that went up another Ā£2 it would make it better to go elsewhere for many more newer investors with smaller portfolios.
I wouldnāt close and move accounts over if they di that as that would imply they may keep doing it in the future as a 40% jump is a lot unless you want something on offer. Feels like Crowdcube adding success fees and increasing the buy in fee as well.
Having said that it is just a survey and the point of them is to see what people want so I wouldnāt lose any sleep. I would be extremely peeved if crypto being adding made the platform more expensive though.
In my case it was quite unfortunate questionnaire.
When I was looking for ISA provider in the UK, my number one choice was Interactive Brokers, as I have brokerage account with them for 11 years now and absolutely happy with them.
But. They didnĀ“t provide ISA in the UK. So I started looking around and decided to try Freetrade.
I mostly happy, but have some gripes.
Then they send me this questionnaire and in one of the questions they ask if I have ISA with any other broker, and the list includes Interactive Brokers. So I go googling and find out that IB now does ISA.
So now I am seriously considering moving our accounts (my and my wifeĀ“s).
cost is likely to be the same. At least for the way I trade.
FX conversion costs probably going to be close. Maybe better.
stock universe is going to be much larger, even compared to Freetrade premium subscription
limit order. In my trading strategy I rely on limit orders. I am absolutely willing to pays some amount for every trade - like pound or two - only to be able to do them. What I am not willing to pay is extra subscription money for them. I get just five or six limit orders executed per year. 6.99 per month? No. But inability to do it does irritate.
Out of all this, limit orders is probably the biggest pain point.
Freetrade will still have place in my new set up, if I get brave enough to take my pension money from work mandated Aviva and move it to Freetrade SIPP. I am thinking about it thoroughly.