Plus Paywall Stocks Poll

Ā£2.51

Would you be able to point me to where I could read about the reasoning?

1 Like

I can purchase if they are over your limit

Also thanks for the warning. Being that you were there previously could you help explain what the problems could be?

Surely theyā€™re worth less now given how many people are leaving because Freetrade are trying to carve out a revenue stream? :wink:

14 Likes

I donā€™t want to cross the line to far about taking about competitors. However the main points of concerns are their terms around where funds are or can be held (they may not hold them in the U.K.) and what companies do or could hold assets in your name. Namely they specify that they may hold assets directly rather than through a nominee account or third party custodian putting assets at increased risk.

I found these terms too risky for my liking to hold any significant amount with them.

Now to be clear they arenā€™t doing anything wrong as far as I can see, thereā€™s nothing necessarily wrong with those terms, however you need to read them and accept the potentially higher level of risk involved in using them compared to other brokers.

Basically read the terms, Iā€™d say the same for any broker including Freetrade.

4 Likes

To add to the above:

Recent mismanagement of stock splits (Apple and Tesla) causing the clients to lose money.

Recent technical issues during market volatility with little comms from the company.

There are recent threads available for anyone looking

With regards to Plus
For anyone interested, the Plus offering has been extensively discussed by the community. You can check out the following thread. Interview with FTā€™s CEO should be also available soon with feedback from the company

5 Likes

Nice to see the Trading212 trolls are worried about Freetradeā€™s upcoming Series B :sweat_smile:

Because all the ā€œIā€™ll sell you my imaginary shares for cheapā€ posts worked really well on the last fundraiseā€¦

10 Likes

I thought the same thing tbf, the account was only created 6mins before their first post.

On the other hand, I think that this forum should be a safespace for everyone to share opinions & thoughts for and against Freetrade (as long as itā€™s constructive) so I wonā€™t point the finger but I do find it suspicious

9 Likes

There has been some critical (but fair) first posts lately from genuine users which I fully encourageā€¦this just wasnā€™t one of them.

2 Likes

Agree!

Sidenote: Just given your IG a follow, keep up the good work :+1:

1 Like

Not sure they have time for this considering a complete chaos on their forum at the moment

3 Likes

@Mr_Shote I was actually thinking of doing the opposite. I wanna move my Shares to Freetrade.

Currently at the moment I donā€™t think I can afford Ā£10 a Month, but I trust Freetrade more than Trading 212

10 Likes

They also discussed at length in the Zoom meeting if thatā€™s around. Basically they wanted it to be clear criteria rather than ā€œftse 350 plus legacy ones you already owned etcā€, which would vary for everyone and be hard to code for.

Also agree that this discussion went on for weeks on this forum, to the point we were all very bored with it :sleeping:

5 Likes

Ok you piqued my interest :sweat_smile:

It is indeed carnage, they have upped the margin requirements on all their CFDs and forced liquidations on their crypto CFDs after bitcoin sold off. Costing their customers thousands.

In addition there are people complaining about the spread being unusually high.

Oh and also the constant outages latelyā€¦

If anyone on this thread is genuinely thinking of moving their funds over there, I suggest you go have a quick read on their forum before deciding.

8 Likes

Haha i too just checked out their forum. Rather pay a clearly stated monthly fee any day!
Freetrade forum doesnā€™t want to pay a monthly, T212 forum doesā€¦ whatever next

Screen Shot 2020-11-26 at 23.43.54|690x413

5 Likes

I may be looking at it from a personal stance, but it just seemed disingenuous almost like its a freemium game. I think this is what got me. @szb as helped point out that there was fair warning. I just felt Freetrade was different and this was the first time I felt like the clients didnā€™t matter in the decision.

1 Like

Different in what sense?

Clients actually helped shape this decision (in part) which to be honest Iā€™m not sure if we would have seen from other brokers.

1 Like

So Iā€™m an investor in FT (R5 and 6) but also hold portfolios in FT and T212. I donā€™t see a problem with that. T212 gives me better information on stocks and a wider choice.

The claims you make about t212 re bait and switch are nonsense - if you use the app (I donā€™t use the web version which may differ) you donā€™t even see the CFD section let alone have it pushed on you. Yes, shares are lent out but income has to be derived from somewhere. Funds are held in Barclays in the UK.

4 Likes

That is about the CFDs there has been no impact on the investment side of things. The CFD side of things is an absolute shit show on both sides - T212 and customers not understanding what they are investing in.

2 Likes