Integration with genuine impact could be a shout
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So in todayâs announcement of new ETFs is the sting in the tail that some existing ETFs eg EQQQ and others will now be moved behind a paywall - not cool.
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This shouldnât be a surprise and appears to be in line with some Free stocks moving over to Plus.
Theyâve even given the reason for the move, ie âNon-iShares/Vanguard ETFâ, which clearly indicates which ETFs will be free and which wonât be, now and in the future.
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Are you sure EQQQ is going behind a paywall itâs still in the free section on my app.
If something like a simple Nasdaq index tracker is going behind the plus paywall that seems very odd to me and I would really question their judgement on moving so many stocks behind paywalls especially if theyâre moving ETFâs like EQQQ. Itâs not like itâs a special premium offering itâs a simple Nasdaq 100 ETF thatâs been on FT for a long time, I donât see why it would be moved behind a paywall.
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EQQQ and the others are still free on the app, the wording from the announcement is â28 ETFs will eventually be moved to Plusâ
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Yea I just read the post, really disappointed with this removing that ETF leads to there being no NASDAQ index ETF in the free universe. This is not in line with FTâs ethos of making investment easy for newcomers if theyâre restricting the ability to invest in major indexes to being behind a paywall.
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As pointed out on the other thread, That one is nearly ÂŁ500 per share, and is UK so no fractionals yet.
The EQQQ is a fair bit cheaper per share, although still a couple of hundred
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Yes but not exactly easily accessible to new investors being nearly ÂŁ500 a share. Especially as FT want to make investing easy for new investors doesnât really seem to fit in line with their ethos. If they had UK fractionals it wouldnât be an issue.
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Iâm considering signing up for Freetrade Plus.
Before I do, just in case I decide itâs not for me, does anyone know how easy it is to cancel Plus once you have signed up? Can it be easily cancelled from within the app or would you need to contact customer services?
Thereâs detailed information on cancellation in section 6.1 of the Terms & Conditions: Terms & conditions
Sounds like you can cancel within the app (Iâd check, but I have Plus for life so canât cancel) and if itâs within 14 days, you can additionally contact support for a refund.
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Thanks for the info
I think I am in the same boat as a lot of the constructive comments above. I absolutely love the FT brand, transparency and ethos. I think the app is intuitive and has got me excited about building a portfolio verses using a sleepy robo adviser. I want to double / triple the AUM I hold on the app and I would feel more comfortable paying for the service knowing that this will lead to a sustainable revenue stream for FT. However, as pointed out by some above, the current pricing requires you to have a substantial portfolio to reach a sensible interest rate / percentage of AUM. I may well pay the current pricing a couple of years from now, in the mean time, I would like to pay something relative to my holding amount. FT is great value verses Hargreaves but if charges remain high, the lazy thing to do seems to be to use Vanguard or a Robo Adviser with fixed 0.7% charges or less. Paying for advanced features is not for me more important than minimising portfolio charges. I appreciate the enormous value of the service at the moment but I canât see how you capture people on their way to plus.
I also have to emphasise that reporting whilst boring is important for my company. Most people working in financial services or for auditors have to report their monthly transactions and not just a holdings statement. They need to see if there have been any buys and sells within the month that breach minimum holdings rules. Sending screenshots of all the transactions in the app is not scalable once the portfolio reaches a certain size and with all the dividends.
Either-way, I love the service and pleased I invested too! I am sure you will get this right.
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Vanguard has platform fees on their funds, whereas Freetrade doesnât, vanguard funds are not under Plus. Unless youâre looking at an ISA in which case itâs ÂŁ3 a month at Freetrade, theyâre not getting rid of the ISA as far as I knew. Vanguard is cheaper up until a certain point (depends if you have a SIPP or not) though for the ÂŁ3 a month.
It would be great if you could add your needs to my topic Documents & Reporting
Itâs not fair to directly compare the two, because FT offers the ability to build a portfolio without paying any hidden fund/ETF fees. But when you compare the platform costs, Vanguard charge 0.15% per year as an on going account charge, capped at ÂŁ375. if you have a 25k on FT. You have three choices, Pay ÂŁ0 (no ISA), Pay ÂŁ3 (ISA), Pay ÂŁ9.99 (Plus). Annualised, these represent an account fee of, 0% (no ISA), 0.14% (ISA), 0.48% (Plus). Plus clearly starts to become great value as your portfolio grows. I am sure there are a whole lot of people on their way there, why not find a way to bring them with you on a tiered basis. Either way, sure I will be on Plus soon.
Thanks regarding the link to docs and reporting.
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Obviously I donât have an inside seat to Freetrade but as I understand they want to keep fees simple and as uncomplicated as possible. Your right they could add in more fee options and theyâd perhaps take in some more customers but theyâd lose out on that simplicity. And if they keep the simplicity theyâd probably have to switch to a % based fee which 1 isnât actually as simple as a fixed fee, and 2 ends up being more expensive over time.
Iâm on that boat where itâs a bit cheaper to use vanguard right now (plus they offer a SIPP), but Iâm not sure if that would be a good enough reason for Freetrade to add more fees in the platform or not.
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Iâve just signed up to Freetrade Plus.
One thing I have noticed is that now I have signed up, the app no longer displays the âFreetrade Plusâ icon on the stock screen for Plus only stocks.
I would quite like for that symbol to remain, so that I can tell whether a stock I am buying is only available from the Plus universe.
Firstly, its useful to be able to see that info easily in-app, just in case I decide to cancel Plus.
Secondly, it letâs me know that Plus is of value to me for new stocks I am buying, that would not be available if I did not have Plus.
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Hi there -
We took on board the comments regarding EQQQ (share price vs. iShares and the fact that EQQQ distributes income and iShares only has an accumulating share class) and weâve made a tweak to the Plus ETF break down - Free ETFs will include all those available and managed by iShares, Vanguard, and Invesco
Iâve updated the other Plus universe threads and the relevant spreadsheets/blogs.
Thought I should drop this in here!
Alex
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Yeah I agree this would be useful!
Just bought freetrade plus.
just thought on both the sell and buy side. If you can put a limit order above or bellow by 9p on 100 shares. Than that = ÂŁ9. Meaning your paying .99p for your ISA. needs a lot of work though. still think its to much for the platform It is
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