Yeah I get that, I did wonder what ISA only people would think. It’s a big increase. It’s still competitive. HL is cheaper but has fees for trades which usually makes it a bit more expensive. Others charge £10/m for an ISA
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Time to change the name from Freetrade to Paidtrade I think. Interesting that they emailed yesterday about delaying the securities lending and now they are increasing the monthly prices. I guess they need to make money somehow.
Honestly, I’ll probably transfer my ISA elsewhere now. I started using it a few years ago thinking the platform would grow in capability but other than extra shares that I don’t care about, the app has barely changed and no functionality has been added to improve the capability/experience. I’m a shareholder (crowdfunding) of Freetrade as well, so I was pretty brought into the company. I’ve been thinking about moving since earlier in the year. I wasn’t a big fan of the lending securities move (although it didn’t affect my ISA) so I was holding fire to see how it played out and what else happened. The 3 months to pick a package is forcing me to kick of an ISA transfer now.
You might think this is a bit over the top, but it’s more about the decisions that have been made lately rather than this specific change. I’m not really expecting this direction to change but as a shareholder (Crowdfunding), I hope it does.
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I’ll probably look to go to InvestEngine as I mainly have ETF/Funds anyway
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100 percent agree mate,ISA increase of 24 quid a year is a joke IMO like i said i dont want any "plus"stocks, barely any updates to the app in years fx fee still .45 percent,its not freetrade any more.
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Zero chance that Invest Engine remains free for the ISA. You say the app has barely changed but mainly invest in ETFs, what exactly are you looking for?
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Im not happy at all to be honest mate,no updates in the app fx fee .45 percent i dont want any plus stocks,why should i pay 24 pound extra for nothing extra?
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After the debacle that was securities lending we now have basic account users being even more limited to what they can buy unless they upgrade to standard or plus.
Freetrade is slowly becoming Paytrade.
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If you are reaching retirement age then it is unclear that the Freetrade SIPP is right for you. It is unclear what the “Pension taking” options are (indeed whether there are actually any options at all). In time though this may change.
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Nothing has changed for basic users
Not really sure on the point of this? Nothing is free in cost.
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Im basically bein charged an extra 24 quid for 1 percent interest on cash? They should have kept basic isa 3 pound for people who dont want/need plus stocks and interest,5 pound standard for plus stocks etc and kept 9.99 plus that includes everything.much better model imo.
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I started out with individual stocks. I only really changed this at the start of the year as I had less and less time to manage it.
To start with they could introduce auto investing with the pie that some of the other platforms have, but even basic stuff would help. For example when I select 1D, 7D, 1M, 1Y, my investments below should change to show how the individual stocks have done in that time. Whilst I can click a stock and see it’s gone down by x percentage that day I can’t actually see how that affects my specific holding (£).
The insights section should barely be called this.
Honestly, I could come up with loads of small quality of life improvements, all they need to do is look at other platform apps to see what works.
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As an investor in Freetrade I am happy with the freemium model.
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Since we launched it in December 2018, over 3.5 years ago.
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I had a personal message from Freetrade explaining the changes.
You should fact check before responding.
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Can someone at freetrade explain to me why you didn’t just keep the ISA at 3 pound and introduce this new standard model with 1 percent interest and a few plus stocks at 4.99 as a option,i dont want or need this,ridiculous move!!!
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People complaining about price increases on ISA probably lost more money on not using limit orders on their trades
I think most of the negative comments coming from the fact new plans are mostly reshuffling the old stuff
Would be great to see recurring deposits/automatic investment/dividend reinvestment on a standard plan as additional value add
Also with interest on 1k parked with FT the new standard plan costs additional 4£ per year
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It is quite an increase for those on ISA only so i can understand some peoples frustration, and a big discount for those with a SIPP. Are we expecting any more quality of life stuff coming up to improve the value of the standard tier?
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Can someone at freetrade explain to me why you didn’t just keep the ISA at 3 pound and introduce this new standard model with 1 percent interest and a few plus stocks at 4.99 as a option,i dont want or need this,ridiculous move!!!
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What’s changed?
Why didnt they just keep the isa at 3 pound and add the 4.99 tariff with plus stocks and 1 percent interest as an option?surely that would have been the better way to go rather than just saying ive gotta pay an extra 24 quid a year for nothing?
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