They would have to make an investment and hold it for a minimum period
Agree with @qaziar on the necessity of referrals, but not the one that will cost Freetrade a fortune
I have put a up a slightly different version for referring:
That works. Iām an investor in WeSwap as well and I believe that they credit Ā£5 for each new user but free Alpha for a month would be a great incentive.
What about Ā£5 worth of instant trades or similar?
Robinhoodās referral program sounds interestingā¦
Iāve been having a great time with the app. So much that ive lost count of how many people iāve talked too about Freetrade
However, i feel your customer aquisition may work better if Freetrade created some sort of referral program (like Monzoās) . It might be a costly feature, but it would really help me in convincing my network to join the movement and leave their traditional and costly Investment accounts
Thanks for the suggestion, better Freepasses are on the roadmap here.
Weāve got something good on the way
Hey Gabriel
I merged your suggestion with the existing proposal to consolidate the votes, hope itās alright with you
Yep, no worries. Thanks Vlad.
Think Ā£1000 is too pricey when part of freetradeās mission is to make investing more accessible
I like the idea of copying robinhoodās free stock,
Something physical is a better incentive in my opinion
Or a free t-shirt after referring 5 people?
1 month of Freetrade Alpha for both the referrer and referee seem to be a good incentive without dramatically increasing Freetradeās CAC
I always feel referral incentives can have the wrong effect, often its just key users that have a platform to share/abuse - just look at the Tesla Roadster 2 fiasco. Iād rather see Freetrade invest in other advertising or look at reducing their fees even more - being the best and cheapest in the market would be a great way to grow!
what are the benefits of Alpha?
It is a subscription plan that used to be in the pricing schedule but has been removed recently (possibly due to Freetrade making substantial changes to it).
Originally it cost Ā£10 per month, giving free unlimited instant transactions for the US shares and 50p for the UK shares. It also covered the cost of an ISA and free same day withdrawals.
Thanks,
I knew it covered the cost of an ISA but didnāt know anything else. I assumed it had more to it otherwise 1 month Alpha wouldnāt be much good to anyone
Hence it is no longer visible, meaning Freetrade will hopefully expand its features
Is this any closer to happening?
Referred SO many people to Monzo, then they announced a paid referral scheme when all my mates, colleagues etc. had already signed up. Already recommended a few people here, but donāt want to lose out again, so am kinda holding off until this is ready!