MEGATHREAD: European expansion 🇪🇺

Will European expansion mean access to EUR denominated stocks?

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It’ll be our new Investment Platform :tm: that enables us to add European stocks. Depending on how things go, we might start the international expansion before we’ve finished building the platform.

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Is the stock universe the same, regardless of which country the user is in?

Fingers crossed we hear one more released at each of this weeks roadshow events😉

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Apparently will be France, Germany and The Netherlands.

You can see a protected page for them:

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I’m hoping so too! Fingers crossed for Italy.

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Stupid question. Will we be able to have more than one Freetrade account? I have wealth on both sides of the channel so I would not mind investing in euros.

Hi swaption, we’ll be able to answer this once we’ve worked through the remaining details. There are a few moving parts that determine the response to your question, which mean we can’t answer you just yet.

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Italy may be the dark horse…hope for a surprise!!

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Given the UK’s potential loss of financial services passporting rights to the rest of the EEA in November, has Freetrade set up a regulated entity in another EEA jurisdiction in order to facilitate its expansion to other European markets in a Brexit-proof way? If so, which jurisdiction have you gone for?

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Good question! I have another one: when do you finally start (the waitlist) in/for germany?

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They’ve said they’re going to start in Ireland first so that should do the trick for the stepping stone to the rest of Europe.

After revealing plans to expand in Europe (Ireland first, then Germany, France and the Netherlands)…

No Italy it seems… now I am very sad :sob::sob::sob:

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It’s a logical stepping stone in terms of gaining experience operating in another market, but it doesn’t necessarily mean there will be a regulated entity in Ireland. That could be in the Netherlands, Estonia or even Liechtenstein.

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It’s dropping within weeks. :de: :raised_hands:

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I know it’s super unpopular but what about Eastern Europe, Romania for example. I know quite A LOT of people that are eagerly waiting for your soon to be competitor - Revolut - to launch their investment services.

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We’d love to go to Romania when we’re ready. It was a surprisingly high-ranking country in the context of our waitlist signups. Watch this space!

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Hi, Viktor. What about Italy? I can hardly wait to sign your waitlist. Thank you in advance.

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We hear a lot from people wanting Italy. :+1: :it: We’re focused on the above first four markets, but we definitely want to get our waitlist up and starting to prepare the expansion for further countries once we’ll have made progress with the first wave!

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There has to be research on this, levels of interest in self-managed investing (particularly in millennials, your brand-targeted market). I had a quick look, and yes, obviously, Germany and France would be first, but interest seems to be higher pro rata in the Baltics (EE/LT/LU/FI) than Southern Europe (IT/ES/PT/GR). Especially Estonia.

The other thing to consider is your competitors (RH Europe, Revolut, Monzo?) and make sure you get first mover advantage in fast adoption territories.

Also, is there any reason you can’t go everywhere almost at once (say one country a week)

  • app text localisation is a fairly quick job (plenty of cheap outsourcing)
  • doesn’t a single ESMA licence cover all territories
  • your model is viral not advertising, and so scales well
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