I’ve recently found out that Trading 212 app Freetrade’s competitor doesn’t charge for the ISA, as a newcomer to Freetrade and new ISA account I’m thinking I wish I had not opened it with FreeTrade as my investment so far is quite small, around £1200 so far.
I see a lot of discussion on this so wondered at what point or what amount does it become worth it to have an ISA with Freetrade?
As I have stocks and an ISA with Freetrade I’m wondering what to do, as I’m still new to it all and looking to invest more, maybe I opened it too soon, I used a basic account for a while then decided to do the Isa as I didn’t want to pay tax, now am wondering if it’s worth moving it to Trading212 or just sticking with Freetrade, I’m unsure of any advantage apart from the fact Freetrade is a UK company and seem to be like by many here.
Appreciate any feedback.
Just got a reply from one of the FreeTrade helpers, I was going to delete all of the above but maybe it will help others thinking the same.
I can’t copy and paste his reply as it’s on the app, so bullet points are
- We don’t sell our users order flow
- We don’t sell user data (v important to me)
- We don’t make money on the spread
4.Were transparent with customers on what they pay and what they get for free. (I have read that elsewhere)
- The app is built for long term investing behaviour as opposed to servicing frequent trader activity.
- Lastly we build a different culture around investing , so company transparency, nurturing a community and education are all part of what we are building.
He goes on to say the £3 might not be for everyone and different products make sense for different people,
Personally I really like that reply and feel much happier with the choice of FreeTrade. Hope that helps others…