You’re unlikely to get any confirmation about future actions especially with a “never” time scale. I would suggest it is unlikely, Freetrade are push to increase their AUA/AUM. Encouraging people to sweep up old pensions into a Freetrade SIPP is a very good way of doing this.
May not be the question for this thread although it does discuss dividends.
When does anyone think a Freetrade customer should take on the Plus account from the free account?
At a guess, I think it should be when you get more than the £36 in divi to cover the monthly/annual fee but what’s the thoughts on the group?
Plus is £10 per month not £3 per month FYI. I would say plus is worth it if there are stocks that are only available on the plus subscription that you want to invest in. You also get 3% interest on up to £4,000 cash in your Freetrade account which equates to £120 per year or £10 per month.
On the other hand, £3 for the ISA is well worth it if you don’t want to pay for plus but still want the tax advantaged account.
If you want my onions, plus is good if you want to be able to invest in stocks regularly without any extra fees on top of the £10 per month. Also if you have several thousand pound sitting in a savings pot. You could transfer those funds and hold them as cash on your account to earn interest and offset the fee you pay to Freetrade.
I’d say it depends on account size. For example, if you have only have £1,000, Plus would be costing you 12% so it would be better to utilise a free account. Even at £10,000, that’s still more than 1% before stamp duty, forex, withholding tax, spread and ongoing fees for ETFs or ITs.
The good thing is £120 a year can become a relatively negligible cost as your account grows.
One thing I do think if worth it, from day one is an ISA.
There is a benefit to having an account that you don’t have to report on at all. Sure not actually paying tax is a benefit as well but even the paperwork (or online) tax reporting is a hassle many could do without.
That £36/year is buying you the ability to say, oh well, looks like I don’t have to concern myself with that.
If someone truly can’t afford it yet, then sure, I get it though.
I consider freetrade plus to be virtually free.
£4000 3% interest. That £4,000 would be in Marcus at 1.2 %. Therefore £72 from freetrade. My isa in Hargreaves Lansdowne works out at £3.75. that works out at a total savings of £117. Hargreaves Lansdowne £11.75 per trade. I now have no money drag. The latter makes me very happy. Investing a spare £1 with no cost is brill.