I’ve put together a list of features and company developments I’d like to see from Freetrade in 2022. I’ve tried to keep this as achievable as possible, but I am hoping it’s a big year:
Add major EU exchanges
EU launch in Nordics + France, Ireland & Germany
Crypto
Enable employer SIPP contributions
Tax reporting
LISA/JISA
Improved stock data
PMT levy
Aussie licence granted + prep for launch
Some movement on Autopilot
If 2021 was the year of ‘soon’, hopefully 2022 is the year of ‘wow’ .
It would be awesome if we saw More CRYPTO options on Freetrade, Bitcoin, Avalanche, Ethereum Terra LUNA and the likes,… and be able to Stake our Crypto holdings too.
I hate having to use Multiple apps to access my Crypto holdings and to have them all in one place would make life a whole less complicated!
I think crypto is cool and will be an essential part in the future, but Freetrade has a long way to go in terms of shares and can dominate that market pretty well
I am especially excited for…
Some movement on Autopilot
When you regularly invest in 10+ companies and every few weeks you have to manually click on them and invest the right amount Would be much better to automate it all!!!
In terms of crypto, I’d be looking for:
Layer 2 support on Ethereum
NFT marketplace (for those NFTs the big supports have )
Defi market place
But this is more my 2024 list, I really want to see them nail stocks & shares first
I can understand why people don’t want Freetrade to get distracted by crypto, but I think it’s necessary to boost AUA and revenue.
Earlier in the year Adam said that the VCs would be unhappy if they didn’t get Crypto in 2021…well they aren’t getting it this year and probably not anytime soon.
I really hope the speed of execution picks up next year
@Hectic888 Umm. I am curious - does anyone provide you with a CGT annual statement? I am not saying they shouldn’t provide you with a CGT annual statement. Just that you seem to be saying that is a basic thing normally provided by others but I am not aware of this. To me it sounds like an additional service - this is after all a brokerage and CGT annual statements surely cross the line of tax consultancy.
I fully understand that they should provide an end of year Tax certificate which stipulates sales and purchases and dividend/interest income received. All which would help you with your Income and CGT declaration.
@stav Thanks for your comment. Yes you are right you are comparing apples and oranges. The companies you have named are Wealth managers or Investment managers. Freetrade is neither.
I am not questioning the legitimacy of the request - anyone can request whatever they wish. My comment is squarely directed at the assertion or suggestion that the request is about something that is normally provided by most (UK) brokers. My experience with a dozen or so more UK brokers and fund managers over the years is that it is not. So I am simply curious that anyone thinks it is a normal (hygiene) service feature from brokerages.
CGT is not the most simple of things except in simple cases. And in fact CGT computed by one brokerage may not even be accurate if you have a number of brokerages that you work with and have the same share (or class of share) with more than one of them - but again my comment is not really about this point.
It has always been the case that where a brokerage takes off taxes, even if notionally 0%, it provides a certificate to say so.
Whether is makes sense for Freetrade to provide a CGT service is obviously not one that I can contribute to - it is a question for Freetrade Product Management to consider.
No-one here is asking for a CGT certificate. We want to be able to download our transaction history over the UK tax period and have it summarised in a neat and presentable way.
We can then use this to do complete self assessments.
@hookedinvesting obviously makes sense to have your transaction history. Wrt to your comment No-one here is asking for: the reason I replied was because the OP said "they don’t add basic things like dividend info and cgt annual statements".
You are totally right of course, by other brokers , HL and trading 212 provide tax certificates rather than an overall CGT and income position. I use NatWest as my overall tax advisors.
Would like to see an option for us to add/switch the category a stock or ETF is.
For example:
ICSU ETF is mainly consumer staples stock, would be great if users can manually add our way of categorizing the ETF.
or
SEA Limited (SE) is a stock I consider as a Tech stock not Telco stock. Would be great if users can manually change it to a different category that matches their preferences.