Amazing! Free until April too
Lovely stuff!
Am I right in thinking, that when you move my Free Trade Account to a S&S ISA, you’ll move my stocks & shares too?
Amazing! Free until April too
Lovely stuff!
Am I right in thinking, that when you move my Free Trade Account to a S&S ISA, you’ll move my stocks & shares too?
Before Christmas as well, what an awesome present! This is amazing, also that you’ve made it free until April. Great work Freetrade
If you are an existing Freetrade user and signed up for an ISA in your profile, that is exactly what is going to happen. However, I believe you will not have access to investing During the week commencing on the 10th is December while the transfer will be in process.
Is it true for US stocks as well? I thought they are taxed before we get them in our accounts.
Correct, the US stocks have a withholding tax of 30%, which Freetrade will let you reduce to 15% at source once you fill the W-8BEN form.
Moreover, once there will be a SIPP available, the withholding tax goes down to 0%.
Maybe it has been asked before but couldnt find it.
My questions is can we transfer our normal account to an ISA and vice-versa ?
Yes you can transfer your normal account to an ISA - if you’re already a user then you’ll see a button that enables you to do that in the Profile section of your app. It might take us a while to transfer you back to a regular Freetrade account at the moment though so please think carefully before switching to an ISA.
When do you expect user can have both ISA and normal account? Roughly Q1,Q2?
Wow, awesome! Literally took a matter of seconds to open it. Now just waiting for US shares and fractions. Will the W8 BEN form be available to complete as soon as US shares are launched?
Yes it will
@yogs I’m not ignoring your post I’m just checking whether we’re able to share a timeframe yet.
We are working on an open product roadmap for early next year to share with the community (more information coming soon) so stay tuned to get more information on this
I just applied for the ISA can’t wait for the US Stocks to be out. I would also like to see some FTSE 250 in there too for potential growth and hidden gems that we can buy for low value.
Can’t wait for it
So a potential strategy for the ISA fees, a monthly paying dividend etf/stock that covers your ISA fee allowing you to almost forget it.
e.g. STHS pays 5% annual dividends (thanks @PigeonStrangler) but pays out monthly; so if you had £720+ in that etf the monthly dividend would cover you ISA fee of £3/month.
Just thoughts
Perhaps no one knows yet since it’s free until April 2019, but when are the ISA fees actually taken, and how? Does it come out of your ISA account every month, or do you pay in advance in a separate transaction from your bank/ Apple Pay?
Good question! We’ll share more details about how this’ll work nearer the time.
That’s a healthy yield!
Just realised that my GIA has been fully transferred to an ISA, showing the remainder of the £20,000 limit, allowing trades and tax free forever!
I assume this is not news but have not seen anyone showing off yet
Show off some screen grab Vlad? Blurring out sensitive numbers, of course!
Not all of us were lucky to do the switch… next tax year!
Well, blurring isn’t going to help because you could estimate by the line that is circa 1/3 filled
What fascinated me the most is that behind the scene, all the holdings were sold and bought from the moneymakers with £0 difference for the consumer (a good thing). From the user’s perspective, it is just so convenient and unusual to get all those benefits with effectively no cost nor hassle.
Speaking of the global app changes, there are none at the front end except the ISA allowance representation. Still clean, still functional, still without unnecessary junk. Now eagerly awaiting the US stocks
The only point I would flag is that the p&l has reset from the date the ISA was created!