MEGATHREAD: European expansion 🇪🇺

From reading a translation (I’m not a Polish native like yourself so I could be wrong) it seems like you are still free to trade using their share platform, you just can’t complain to the British Ombudsman. You can complain via an American entity as their platform is driven by DriveWealth who operate in the US

Anyone who disagrees to these terms are told to sell their shares in an upcoming update

You should have received also an email from Revolut. They say that you can continue trading, just after 31 Dec you would loose insurance and deposit protection (or some other kind of eu regulated investment protection) until they would transfer all EU users under the new licence which is due some time in 2021.

Correct!
That’s why I’ve said Revolut will KIND OF close theirs Trading Platform.
But it’s VERY risky to use it WITHOUT ANY EU PROTECTION, isn’t it?
And that’s probably the reason why Freetrade has delayed the EU expansion - they want to have a full EU license before.
Correct me if I am wrong.

I’d say there’s probably a 1% chance of :freetrade: launching in Poland before the end of March 2021.

On the :freetrade: website, there are pages for France, Germany and Netherlands, so I’m assuming these will be prioritised.

Think you’ll have to hold off for a while if you’re waiting for a Poland launch my friend.

Thank you for your opinion @jspen :smiley:
In my opinion the chance is a little bit bigger, they are working on it [EU expansion] for quite some time.
I am still waiting for updates from :freetrade: Team :smile:

1 Like
1 Like

2 Likes

Great stuff. Roll on expansion!

Financial Crime Manager

Best title/job description ever

2 Likes

Please do share the vacancies widely and help us build all the features we all want to see on the app! :freetrade:

3 Likes

Big new role announced on LinkedIn! :eyes:
Indicates next year will have a wider European expansion than the current countries with waitlists

22 Likes

Fascinating move. I wonder why Sweden?

I think they’re a very tech savvy population and relatively wealthy so there’s probably quite a big potential customer base

4 Likes

Plus they all speak perfect english, so you don’t need to translate the app.

3 Likes

It could be a base for expansion into the rest of the Nordics

4 Likes

Yipee!!! Things seem to be moving at pace now. I am so looking forward to spending my Freetrade investment in 3-5 years. Nice en-suite bedroom utility room for the 2 dogs,nice wee garden. Whooopeee!

Sweden is a very smart play. Kudos to @adam & the international growth team on this move.

I lived in Stockholm for 2 years while working for a tech company, and continue to visit regularly in normal times. I have always been impressed with the general population’s early-adopter attitude towards new tech, both as consumers and entrepreneurs. The start-up community is incredibly vibrant, and a lot of wealth has been created in the last ~20 years as a result of stand-out companies like King, Spotify, Klarna and Kindred - where some of my friends and family work.

Sweden made some brilliant moves in the 90’s to deregulate industries, cut corporate tax rates, and cut personal inheritance taxes and wealth taxes. That caused a massive surge in capital to become available, and many people started angel investing as the internet boom started ramping-up. It also helped that tax breaks were introduced at the same time for home computers, and everyone grew up with personal computers. All of these factors (IMO), plus the strong social safety net that failed entrepreneurs could rely on if they crashed-and-burned, created this awesome perfect storm for start-ups that continues today.

I don’t know why more governments haven’t taken a similar approach to stimulating their economies. The population accepts high taxes because things just work. I would love the BoJo & Co to spend some time studying this more… But I digress.

I had a Nordea account for years. Their online trading platform was appalling (though light years better than HSBC UK’s current InvestDirect platform). None of the big banks had anything better, because… I suppose (guessing here) the expectation was that consumers would just purchase funds of funds within their pensions.

Since then, several pan-European online brokers have expanded there, but AFAIK none have really cut through. It’s a huge opportunity for FT if they have the right team, and build the right brand (importance cannot be understated). Being a sexy brand is hugely important there, like picking the right outfit for a night out in Stureplan. And I agree with some of the other comments in this thread, but despite almost everyone there speaking English it would be a terrible idea to launch there without a Swedish-language product.

Just some thoughts over coffee. Cheers.

31 Likes

Jättebra! :partying_face:

1 Like

What happened with the beta testing and expansion to Ireland and the Netherlands have they been shelved in favour of Sweden and other Nordic countries

1 Like

From what I understand it’s going to be a staggered launch across Europe.

We might see Ireland, France, Germany and Netherlands in H1 2021 and more targeted during H2.

2 Likes