šŸ¹ Robinhood UK

Sure.

Personally Iā€™m OK I donā€™t mind payment for order flow, and wouldnā€™t matter for longterm investor anyway, similar to FX charges :wink:

This is another reason I probs wonā€™t be touching RH, although I have signed up. I donā€™t like that a company built for helping millennials invest (when some donā€™t have any financial knowledge of savviness) trade on margin. Yes the exposure is more, but if it goes sideways it really goes sidewaysā€¦and that will just increase the young debt. IMO.

It is going to be interesting on how would the big brokerages react to the news. In the US almost all the big brokerage firms removed their commissions, I doubt that HL and the rest are just going to keep charging Ā£10+ a trade.

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Thatā€™s an interesting point. What if the likes of IG / HL etc were to remove their Fees. Would people then move to the bigger more established brokers?

Id love to see the FT road map beyond 6 months and see what they are thinking about bringing to the table in the future, because if the bigger brokers do remove fees, the smaller brokers such as FT will need something super sticky id imagine.

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Lots of excitement about Robinhood but does anyone think theyā€™ll be trading anytime soon in the UK given their bad PR over the past month? The FCA would be mad not to insist on significant safeguards before they can start onboarding customers.

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I donā€™t think they are offering options in the UK so I donā€™t think the whole Personal Risk Tolerance / Infinite Leverage stuff is going to be an issue here.

Robinhood will almost certainly do a free share referral scheme after launch. Donā€™t bother wasting your referrals just to go higher in a pointless queue. They have 6m in the US they can handle someone who is 20,000th in a queue

FT is very slow adding new ETFs. Emphasis seems to be on individual companies. Maybe RH will match/overtake their range of ETFs in a single update. I imagine this news will have increased urgency in Revolut dev teams too

What makes you think T212 and FT are different? Theyā€™re exactly the same except a couple feature differences, colour scheme and ETFs available

The default option is instant order still (Ā£1 fee). All companies try to make money somehow

Absolutelyā€¦thereā€™s a 0.12% TIF where the similar ETF is 0.2% (SWDA).

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JPG quoting Keynes! :scream:

Itā€™s when you know youā€™re getting old. ā€œI always voted labour so I still will / Iā€™ve been with my bank for 30 years, not changing nowā€

A lot of people are saying that itā€™s great to see competition even freetrade! But this is not competition. In My eyes, Unfortunately Robinhood are miles ahead of freetrade and thatā€™s the reason a lot of people are going to Jump ship when they arrive.
I love freetrade and want to stay loyal to them, but if they havenā€™t introduced fractional shares and many many more US stocks by the time robinhood come, then a lot of people have got important decisions to make including me. Cmon freetrade lets show robinhood that you can Match whatever they bring.

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This is good for the new players like Freetrade. HL should be concerned.

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Worth checking out the Freetrade Building a fintech platform with serverless video overall, but if you donā€™t want to sit through the whole video then look at 25:32 where they demo purchasing fractional shares, it then goes onto explain some of the other things coming soon from the new Investment Platform like quicker top-ups, more securities.

At the end of the video they announced that they have started migrating to the new platform which means we will more than likely be using the things we have been waiting for before Robinhood even starts on-boarding people in the UK.

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Ye that was a great takeway from the video. Great that they posted it for those who canā€™t make it. Buying the fractional Tesla shares!!! :hear_no_evil: I clapped on the inside.

Amazon and Google are definitely high on the list for fractionals for all users. I wonder if theyā€™ll launch it for all stocks right away or add them slowly.

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These are the two Iā€™m waiting to buy, to accompany my Microsoft shares

Agreed. Although, to be fair, among the commission-free brokers at least, Freetrade probably does have the best range of ETFs right now.

However, for me, FT should try to hoover up as much of the UK passive market as possible, especially as itā€™s positioning itself as for investors rather than traders.

Two ways of doing so: reduce Isa fees for those with the least to invest, so itā€™s competitive with Vanguardā€™s 0.15%, and offer a wider choice of index trackers.

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Agree - surely its better to make at least some money of the lower value customers than none at all?

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:rofl::rofl::rofl::rofl: that is an excellent quote

That assumes no capital gains elsewhere, also as you can only put Ā£20K per year in, if you wait till you are hitting these allowances youā€™ll find it takes multiple years to transfer your capital into an ISA

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Thatā€™s true, However Iā€™m one of that Minority, Iā€™ve maxed my ISA this year and I have to wait till next spring to put more in.

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Is Freetradeā€™s fees not reasonable? We donā€™t have an ISA in Ireland so Iā€™m out of the loop on this. When I invested in FT I think I read this but I could never work out was it their monthly charge as the platform fee