My 2022 Freetrade wishlist

Freetrade Chat đŸ”„
25

They will soon, my children’s JISA is with Wealthsimple. Wealthsimple is exiting UK to focus on Canada (they’re home country). They’re transferring accounts to Moneyfarm later this month

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27

That’s good to know then. I wasn’t trying to be funny or anything, just saw your post and checked them out as potentially looking for a jisa for my little boy. I would love if freetrade offered one

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28

@Stewart46 This might be of interest to you https://www.thetimes.co.uk/money-mentor/article/best-junior-stocks-shares-isa/. At least one of those companies makes the JISA free for people with normal accounts. If and when FT offer a JISA you can move over if you so desire.

29

personally I would like to see in 2022

fractional shares on UK stocks and ETFs
option when buying shares for number of shares and option when selling shares in how much in pounds

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30

Definitely Crypto. Have a feeling crypto is going to be WOW this year

31

I would really like to see the UK REIT’s get sorted so that they can go into the ISA, I know they were working on this a while ago, but still not sorted.

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32

Yep, just don’t mention the huge drop that’s occured for the start of 2022 :zipper_mouth_face:

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33

I think crypto would not be that effective if quanttm coputing comes in place. Crypto will be a bursting bubble as it was always.

34

I don’t really understand why everyone wants crypto on FT? It’s a pretty easy market to access via say coinbase pro, binance or a ton of other exchanges or decentralised places. What are people thinking freetrade are going to do better than those places? Surely they’d be passing the orders onto a 3rd party exchange anyway(?) so why not just go there direct yourself?

Plus from a security pov I’d imagine you’d want to hold your own keys rather than use FT as a custodian for crypto.

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35

We should never assume that those who comment here are everyone :slight_smile:.

Anyway - those who wish to argue against Crypto on FT bear in mind that there are many who do want Crypto and FT has already declared an intention in this direction. So if it makes business sense it will happen.

36

Yeah I do get that. I’m neither pro or anti it, I just don’t really get what the point is? I can’t see how it would be making access to crypto any better than it currently is? Why would I switch to using freetrade for that Vs the other existing exchanges? I could well be missing something though.

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37

The point is that Crypto could be a great revenues generator for Freetrade and a valued added in the competition with other trading apps


You are probably not an investor in FT


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38

It’s only a revenue generator if people will use it over other services though. If it costs money to implement then hardly anyone switches their crypto buying habits over then it’s not going to generate much.

Your right I don’t know a ton about the business model. I did think about investing in the last round butndexided not to in the end. I’m interested in why FT will make more from a crypto transaction that a share transaction?

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39

Viktor said at the AMA that he believes that crypto is and will continue to be part of a balance portfolio. He also called out (not by name) the likes of Coinbase who charge huge fees for this when these aren’t justified.

I hold a little Bitcoin, Ethereum & Solano and would gladly have them as part of holdings on FT. I’m not trading just holding for now.

Picture this -

Autopilot is launched and in one automatic debit you can buy your monthly needs Stocks, Bonds, ETF’s & Crypto without lifting a finger.

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41

I am waiting for Jisa.

Also, can someone please remind me: I heard that you can now easily transfer money between GIA and ISA. How do you do it?

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42

Aren’t Coinbase Pro fees actually quite low?

43

I ‘transferred’ between a GIA and ISA by selling all my GIA investments and choosing to either rebuy them in the ISA, or invest in other stocks in an ISA.

You cannot transfer your stocks from GIA to ISA, you have to sell, transfer money across, buy.

44

My question is - can you do it in-app or do you need to ask support to do it? I can’t find a way to do it in-app.

45

You can do it in app but it can be a headache if you have a lot of stocks.

Process:
Make sure you have opened an ISA with FreeTrade
Note down each stock you are invested in
Note down how many holdings of each stock you have (i.e 3 shares of Shell, or 3.4563635 shares of Tesla for example).
Go through each stock and sell all.

Option 1:
Wait for the money to be withdrawable.
Withdraw to bank.
Wait for money to be in your bank.
Deposit that money into your ISA.

Option 2:
If you have enough money already in your bank, transfer the amount of ‘withdrawable’ from your GIA into your ISA (from your bank), before your money is in your bank from your GIA. When the money comes in from your GIA, it will replace your deposited money into your ISA.

Then, in your ISA account, rebuy all of the stocks you sold. You will not be able to buy the exact amount due to stamp duty etc, but you will be able to get a good chunk of your GIA into your ISA.

It’s a pain, but if you’re a long term investor then it’s worthwhile getting these into an ISA.

46

So you are saying that you can withdraw your money and deposit it back. That’s not what I was talking about.

Back when withdrawing / settling money took 3 days you could ask support to directly move transferable money from GIA to ISA. I thought there is now a feature to tackle this task.