MEGATHREAD: New subscription plans 🔁

7 posts were merged into an existing topic: Freetrade investor relations/updates

Clearly no or little fees are best but in comparison to others out there the Freetrade fees are not too bad.

If you have used your full £20K ISA allowance the £4.99 fixed fee is only 0.3%pa and hopefully your investments are growing which sees the %fee dropping.

For really low fees I also have an account with Vanguard for their funds as they have a low low fee of only 0.15%pa

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I’m happy that Freetrade has put a simple and transparent fee structure in place. As I have the bulk of my ISA here I want them to do well. I’m also planning to transfer a small SIPP over now that the Plus includes this.

As someone who has previous experience of H-L they are prohibitively expensive if you want to do any sort of stock picking / trading outside of the funds they push.

Freetrade is free to trade. Yes there is a tiered platform fee but what do people expect - a completely free service forever?? Good luck moving to some other start-ups that may currently be a tad cheaper. They will have to make money off you at some point in the future to stay in business.

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I’m relatively new here and have a small portfolio. The price structure seems simple there’s nothing worse than choosing between 12 almost identical copies of things. my opinion is that it is probably about right for what you get in the long run. I won’t be leaving put it that way.

But…

As a new investor the increase to £5 could wipe out any monthly dividends and over time erode gains on small balances during the initial investment months, some people will trickle money in rather than dump thousands and will notice they are paying out more than they are receiving back, I think it will put people off starting investing.

Perhaps free trade could offer 12 months access to the standard plan at £3 a month increasing after 12 months or a certain investment amount to counter this? Just a thought.

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The £5 a month charge is better if you trade a few times a month or re invest dividends. If you used HL, ii etc, they charge upto £8 per trade so lets assume you do 3 trades a month, ii charge £7.99 per trade 1 trade free for the £9.99 monthly fee. Thats £25.97 for 3 purchases, reinvestments or sales… Freetrade costs you £5 for the same 3 transactions. I used ii and the £7.99 fee seriously hurt your profits before you made any!!

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Welcome to the community @TheGreatGatsby

Being new around here you might not realise that the Freetrade team read most of what is posted here, especially on threads like this ( :wave: :freetrade: lurkers) and they’ll take on board points like yours.

Freetrade was made for people just like you. For people who were locked out of investing and wealth building by high fees and complex platforms. Keep doing what you’re doing and saving monthly (if you can) and you’ll be sitting pretty in a number of years with only your good decisions to thank.

If you have any investing questions that you’re not sure about post them here and the friendly regulars will happily help out.

There are also a ton of resources for the Freetrade team and the community to read up on -

And of course, make sure you’ve signed up for honey the free newsletter from Freetrade, news, and memes what’s not to like?

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That’s excellent thank you :slight_smile:
I’ll take a look at it all, Its been a real eye opener the whole process one which is becoming a hobby as well as a savings method.

Trying to learn as I go but so far in the green which is what’s it’s all about isn’t it :smile::+1:t2:

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If there were any incentives for joining the standard/plus plan then that would definitely sway me to sign up. :wink: :wink: :wink:

In the past I’ve missed out on every offer. I joined shortly before you offered free shares for joining. Then I set up an ISA literally days before you offered free shares for opening an ISA. I have a feeling that I’ll sign up for a plan and then you’ll offer something shortly after. :rofl: :joy:

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:eyes:

We’ll have to work on our timing

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We are indeed watching (and helping out @TheGreatGatsby). Though amazing to see @NeilB continue to pitch in with posts like this :pray:

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I agree with your thinking, but as a new investor as well (I only started last Sept), I’ve chosen to focus on dividend yield and over the year I’ve built up enough dividends coming in that the initial £3 ISA fee was more than covered, and now the new fee of £4.99 pm is also more than covered in every month apart from July I think? So, I am currently on a baseline of fees covered plus a chunk extra, and that will only grow if I’m careful. My portfolio stands at around £2.3k so not as large as some, and I’ve focussed on stocks that pay over 5% dividends. There’s a snapshot in another thread somewhere… Dividend Fest I think?

While any price increase isn’t nice, and it’s almost doubled for us mid range users, it’s still small enough to be manageable with care and good planning.

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As an ISA only user, I will wait for my most recent free share to become penalty free, then investigate alternatives. There are 2 cheaper competitors that currently don’t allow in specie transfers, so if they enable that then I’m likely to transfer out. If nothing competitive allows proper transfers I’ll stick around. I’d happily pay the £2 per month extra if it included a LISA, so possibly way to retain people there.

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Thanks @acamp

I have been a plus subscriber for a couple of years now but no SIPP, my main work pension is safer where it is and the tiny pensions from little jobs I’d done wouldn’t have been worth the fee.

But now it’s essentially free so I’m transferring them over.

Good move for people like me :+1:

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@TheGreatGatsby I love hearing when our customers feel that investing is becoming a hobby as well as a way to grow their savings. I’m glad you’re enjoying it so far. :pray:

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Well said :clap::clap::clap:

I made 1st use of the stop loss facility to protect my profits on drax so my subscription going up to £5 has in effect been paid for a while on this one transaction alone I may have decided to sell my self with out this feature but it is easy to set a figure and then let it do its thing.

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Actually are there Incentive Opportunities happening soon - Would like to join the ISA Plan?





:pleading_face: all my watch list moving to plus only

Plus or Standard