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 :freetrade: 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.
I am from the Netherlands and I am using the beta version of Freetrade. Currently in the Netherlands you can only use Freetrade as a beta tester. However, this beta option is going on for more than 1 year now. So I am curious when the official launch of Freetrade will happen in the Netherlands.
I can definitely tell you that Freetrade is currently not ready to roll-out openly in the Netherlands. My biggest handicaps so far as Dutch user of Freetrade are the following:
Top-up experience: you have to have a GBP account (for example using TransferWise). This is not ideal for EURO based countries. This should definitly be fixed in the future especially if Freetrade has plans to expand in the rest of Europe.
Not able to invest in ETF-Bond as a Dutch investor. I think Bond exposure should be a must to hedge against Stock volatility.