Is anyone else having these kind of problems? I donāt see many complaints in here
I had one failure, once - i havenāt traded much this month and donāt imagine i will until the New Year because of Christmas and birthdays.
Unless i get selected for the ISA then I will be trading
Had one during the very early days and was informed hours in advance - never caused issues.
I believe the reason you do not see many here is because the right channel to report such things is the in-app chat, which is where you could get best advice on what happened. Sometimes it can be something wrong on Freetradeās/Exchangeās side. But another reason could also be something trivial like insufficient funds to cover the transaction or a significant price change.
I had this happen twice during very early testing, and remember they had to turn buying off at least once. It was very early in the rollout as they were testing with the first customers so I didnāt think much of it. So I think probably the failure was genuine and this was just an inappropriate and ill-judged attempt to promote his companyās product off the back of a failure during early beta of a competitor, not some kind of fabrication. The losing money daily argument is pretty silly though if youāre investing - reinforces for me that freetrade should stick to investment, not trading.
The one thing I would like to see from freetrade is a reason given for failed trades - Iād be really interested to know why they failed, but thatās just because Iām curious.
Hereās one we wrote earlier this seemed like a good time to publish the blog post -
I realise the forum isnāt the proper place to report problems, but Iād expect to see complaints in here if people were āLosing money dailyā. Just wondering if it is a common issue or if heās just trying to denigrate a competitor
Thatās got to be Chad
https://finance.yahoo.com/video/revolut-ceo-softbank-tie-may-093200799.html
Revolut planning to launch trading feature end of January. Freetrade will need to work quickly to prevent losing potential market share.
Revolutās CEO has recently given an interview to a russian vc related news site vc.ru
ŠŠøŠŗŠ¾Š»Š°Š¹ Š”ŃŠ¾ŃŠ¾Š½ŃŠŗŠøŠ¹, Revolut: Ā«ŠŠ°Š½Šŗ ā ŃŠ»ŠøŃŠŗŠ¾Š¼ ŃŃŠ°ŃŠøŠ½Š½Š¾Šµ ŃŠ»Š¾Š²Š¾ Š“Š»Ń Š½Š°ŃĀ» ā Š¤ŠøŠ½Š°Š½ŃŃ Š½Š° vc.ru
In the interview he says that investments and roboadvising will cost 0,5% per year.
There will always be competition, it drives growth, Iām more surprised the big companies havenāt moved towards free trading offers yet - either they are complacent or have something up their sleeve?
To everyone or just those paying the metal rates already?
It certainly will drive growth, but itās not everyday that you have a competitor like Revolut enter the market, so there undoubtedly will be some level of market share take here, assuming they do a full launch to their entire user base.
Not clear from the interview.
Considering that other robos offer 0.7% for everyone, it would only make sense to have 0.5% for all and maybe less for the metal users.
It would be interesting to see the % of Revolut customers who have the appetite for investing. Just because they have 1 million+ users doesnāt mean they all want to invest - also I donāt know what their U.K. customer size is and again what % wants to invest.
People come to Freetrade because they want to buy shares etc. Not sure what people go to revolut for.
It certainly means Freetrade should not sit on its hands, at this stage of growth all the stops need to be out.
To add: having said all that however I think revolut is a risk in Europe where there is no real competition and so they could sweep up - Freetrade need a Europe presence soon I think.
Is that from all regulatory sanctions? The why Lithuania question answered then. I thought EDIS was a real thing since everyone talks about it all the time
Interesting read, thanks
Good luck to Revolut to ship their platform before 2023