My 2022 Freetrade wishlist

Freetrade Chat šŸ”„
47

They can move cleared funds from GIA to ISA without you having the withdrawal and re deposit.

They can also reset the buy price once theyā€™re in your ISA is you make a note of it so you donā€™t loose youā€™re nice big green % gains

48

Ah, @NeilB and @Leito I was not aware that you can move cleared funds from the GIA to ISA without the withdrawal and re deposit.

I have learned something new on this Friday :slight_smile:

Have a nice weekend!

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49

Coinbase Pro charge 0.5%, roughly the same amount as the Freetrade FX fee.

50

Iā€™ve only ever used Coinbase to buy as I simply cannot abide the UI of Coinbase Pro, itā€™s been designed for someone who want to sit in a darkened room smashing energy drinks.

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51

I mean, if you want to ditch most trusted crypto platform because of itā€™s colour scheme, you can :slight_smile:

52

Itā€™s almost unusable! I donā€™t want to day trade s*** coins. I want to buy and hold a bit of ETH / BTC - Iā€™ll be moving my small holding over the FT for convenience.

53

Irrespective of the UI if Freetrade intend to charge less than 0.5% ( and allow withdrawals ) Iā€™ll be pleasantly surprised.

55

I am an investor in Freetrade (R3 and R5) and my preference would have been for the company to not get into crypto and just improve and expand on what they are doing with SIPPs, ISAs and general user interface.

I get that they can make money from it but the likes of HL, Vanguard and AJBell can make a lot of money without getting into crypto.

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56

by charging a lot more than Freetrade.

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57

Yes, thatā€™s true.

But perhaps I just canā€™t get out of my head what Adam said during one of the initial crowdfunding roadshows (the one in Manchester which I attended in 2019) and that was to state that cryptocurrency would not be offered (maybe he meant not offered ā€˜at the timeā€™).

That said, other things he and Viktor said on that particular roadshow (in response to live questions from the attendees) were:

  • No, they are not going to offer CFDs (contracts for difference).
  • No, they are not going into social investing (like eToro).
  • No, they will not charge exit fees.
  • Yes, they intend to offer SIPPs and other types of ISA.
  • Yes, they want to expand outside of Europe.

I guess crypto is the only one they changed their mind on (so far!)

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58

I would hope that business plans do change and evolve overtime so there may have been reference to not offering crypto back then but things have moved on since then and clearly there is a demand for it now. All business have to adapt to change or they will perish (not that I am saying Freetrade would perish without Crypto).

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59

Itā€™s not unusable at all and donā€™t need to day trade. You just have a preference with the colour. Iā€™ve been using it to buy and hold crypto with less fees. For anyone reading this and are concerned about fees, you can simply buy/sell on pro then instantly transfer it to the regular coinbase app.

60

So if you want a clean simple UI you have to pay them more per trade?

The default graph only allows you to see price movements between 1 Minute & 1 Day, but itā€™s not for day trading ā€¦ :thinking:

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61

My worry is that soon FT will have articles like this one about Etoro and the negative crypto stories, maybe even about people who may even be on this forum.

It is quite a scary article to think how easy and unregulated crypto is :grimacing:

It would also potentially blow the whole narrative of " Simple investing. Investing is one of the best ways to grow your savings over the long term." out of the water.

As I have said it is not something I am majorly against, I will use it, but think perfecting stocks would be best and become a master of 1 rather than a jack of all trades.

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62

It looks clean and simple to me on both apps. I clearly said you donā€™t need to day trade. Anyone can just buy and sell, whatever their preference may be while saving on the higher fees which is the main point I want others to understand.

63

1/4 of the year in and 0 requests completed :sob:

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64

But the most requested feature (by votes on this forum) is the desktop version of Freetrade and thatā€™s rolling out soon!!

Perhaps we can optimistically think of that as being the important foundation that all other app improvements and features/services will be built upon. Thereā€™s no point hacking things on to the current app if the desktop version leads to a ground up rebuild. Yeah? Yeah?

I donā€™t know if my arguments hold up but consider it a lifering of hope that Iā€™m chucking out to you!

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66
  • proper reporting and document generation and export
  • dividend re-investment and monthly investment feature
  • website

thatā€™s it. thatā€™s all I want.

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67

I appreciate the effort :sweat_smile:

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68

Would be nice if Freetrade finished adding UK stocks before trying to move into European markets. Still plenty low cap stocks missing and nationality declaration stocks.

Would also like to see the Ā£9900 trade cap increased. I had to make two trades when filling my ISA and the price increased between trades.

Would also like to see the maximum number of limit orders/stop losses increased. Why 2 anyway?

1 Like