No because they have a very obvious appearance of a conflict of interest. Whether that factored into anything or not.
No. They arenāt.
FT make money on ISA charges. They make money in forex conversion. They make money on Plus subscriptions. They make money from SIPP fees.
They donāt sell data. And selling order flow data is illegal in the UK anyway. Comparing it to Robin Hood shows you donāt understand what you are taking about.
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Can the Freetrade team confirm that none of the information shared with any of your third-parties (whether freely or via a paid service) is sold on by those third-parties to fourth-parties and so on?
Categorically untrue.
Unlike some other companies, we do not sell order flow nor we sell personal customer data.
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You can read the terms and conditions yourself, itās all there.
To be fair, you should have already read them surely?
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Care to backtrack from this statement about Freetrade making āusā the product now that it has been addressed directly by the company?
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I feel like this may have drifted from my original post
This thread was started to have a healthy discussion about the merits or otherwise of paying for a service
Letās not get into conspiracy land. Sam has clearly stated the facts on Freetradeās financials
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Fair enough - Iāve deleted those comments.
@Freetrade_Team Thanks for clarifying. Your privacy policy does actually state that āWe never sell any of your personal information.ā - I had missed that clearly. How can FT ensure their third-parties and so on arenāt using the information shared with them either personal, usage or order information isnāt sold on?
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Hi Chris, Iād have to explore this in a lot more depth to give a comprehensive answer Iām afraid.
Right now, itās battle stations, but we could revisit!
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Generally companies will review and agree contracts and that tends to include stuff like PII conditions, privacy, data share information conditions and contractual agreements around those (e.g itās our data you canāt use it).
Freetrade have to follow the law as well and that means ensuring their third party service providers also follow the law even if it doesnāt apply to their jurisdiction. Companies are normally more than happy to oblige because money.
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Good on you mate.
I donāt blame people for expecting Freetrade to be like all the others out there that would do all that stuff, but Freetrade really does have an ethos that puts the interests of its customers at the heart of their mission.
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