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.
Thank you for your opinion @jspen
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 Team
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.