Hey guys, just thought I’d share my thoughts and feelings about the app as a newbie (signed up yesterday!).
Firstly, I think the registration process was process was great. App looks slick, feels modern and works well.
Depositing money. This wasn’t the best experience, having to copy all the details over to my bank app to send money to my own account. I believe you’re working on this, but as I sent the money on a Sunday I had to wait until this morning before I could do anything else.
Time to invest. I love the simplicity, but investing isn’t simple. I wanted to try and filter the list of stocks by GBP, or by tech companies for example which doesn’t seem to possible (at least on Android). Next, on the stock pages the graphs are beautiful, but I found myself searching the stock on Google and using theirs instead as I wanted to see the actual price on certain points of the graph (I tried tapping - doesn’t do anything) and also I like to see the market cap to get a gauge of how big the company is.
Buying. On the buying page, I was trying to understand whether the buy price was a maximum (so I should potentially put a higher price than the current price) or if it should just be what the current price is, I did a basic order so I was waiting til 4pm. I also wanted to just type in a number of shares rather than an amount, but I guess it makes sense not to be able to do this if the number above it a maximum spend amount.
Waiting for 4pm. Noticed after 4PM, my trades should have gone through, but didn’t a receive a notification or anything, that would’ve been nice. Opened the app, and one had disappeared from the list. I find it under ‘Activity’ as rejected, my buy price appears to be above the latest price, but it shows no reason for rejection. After some googling, I believe this is due to it only being a single purchase of a £42 share, however as a brand new member, I don’t feel comfortable spending hundreds on the platform just yet.
A few minute later, my next purchase appears to go through the queue after 4PM and buys successfully! But it doesn’t show my purchase price, nor does it show anything in ‘Activity’. As my portfolio price is down 5p, I can only assume it’s a combination of fees and a slight downward price movement, but it’d be nice to see this somewhere. The ‘Investment gain/loss’ in the stock page is blank.
Overall, I still think it was a good experience. Just right now it feels like it caters to people who just think, oooo I can buy a piece of Apple and buy one share. Which I guess is the mass market you are aiming for. It’d be nice if there was just a tiny bit more detail in the apps, like I mentioned earlier. Even if only basic info, like a link to the website and NOTIFICATIONS please!
I understand this is still all in development, but I thought you may want to hear some thoughts from someone new to this. (I do have basic investment knowledge, have £40K in stock from my company, £1K in a FTSE250 company, £2K in a private investment and £5K in Nutmeg).