Option to increase total trade (buy/sell) value beyond £10k

Ideas 💡
1

It would be great if we could increase the current £10k trade ceiling up to something more inline with our individual total portfolio value. I agree that precautions should be in place and that the current £10k buy/sell limit is probably fine for the majority of platform users. However, as my portfolio has been growing I have noticed that I am being tripped up by the current £10k buy/sell limit on an increasing basis.

Would it be possible for us to apply to the FT Support team and where appropriate to get our limits increased on a case by case basis?

Cheers
Matt

2

You may already know, but Panel of Takeover and Mergers levy is a £1 fee charged on all transactions over £10k. To dodge that fee might be better to place slightly lower orders, but then the fee is very small, so not a huge concern either.

3

You must have some serious cash to be requesting this!

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4

Can you not just put it through as multiple trades?

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5

Why should you have to?

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6

because of this…

20 characters

7

I am fully aware of that - pass the charge on as part of the trade cost, just like instant trades.

8

@Vlad recently mentioned why it’s probably not a priority recently (I’ll try and find the post)

Edit: as if by magic :muscle:

9

Shame, but would be keen to see this in the future.

10

I’m sure Freetrade wouldn’t completely rule it out but guess they’d prioritise other areas first? :man_shrugging:

11

Sure, I see it as fairly important if Freetrade want to expand their client base and attract more serious investors from the incumbents.

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12

True :+1:

Maybe I’m just completely out of touch but I’d assume the amount of customers investing 10k+ in one single trade is extremely low?

PS #lendusatenner

13

@James101 & @neovo, cheers for the explanation of why this isn’t in place and why it’s unlikely to be added anytime soon. I’ll continue to try to manage this by using multiple transactions for now and see how I get on.

@HenryL, thank you for your support with this.

It’s probably also worth noting, with lots of people opening up ISA accounts that have £20k annual deposit limits, I can see a lot of people working their way up towards this £10k buy/sell limit. In light of this I suspect that this won’t be the last time that this question gets asked.

Cheers
Matt

1 Like