At present the entry for a stock purchased shows the attached card, and profit shown doesn’t include taxes. I would like to see a cost entry on that card (total cost of all purchases, inc tax and fees), the cost per share should be calculated on the same basis, perhaps these two could be together? To me total cost is more important though. Then the profit should be value - cost.
At present because it excludes tax the app claims you are in profit when you are not (the true cost was 7.84 here both total and per share).
Not sure. I prefer the share price only as fees are variable in and out depending if you choose instant or basic as well as tax. The activity tells you the total
The activity feed is just individual transactions, it does a different job. I think this may be the only place the tax/fees are not included? Not sure on portfolio value yet - it seems a little off too though - I put in £500 to test things out, value is at £497.80 just now (due to fees and tax), so portfolio total shows a loss, and yet the investments line shows a profit on each, which is really odd. These at least should be consistent.
Personally I think for consistency all cost lines should always include all fees and taxes, so that the true cost is shown. Otherwise you’re not really showing cost, you’re showing cost before various additional fees and taxes, and not showing true gain/loss, but a gain/loss for a world without taxes or fees on investments, which unfortunately is not the world we live in.
I do think it’s important that profit is shown as the true profit after costs - this is one of the ways traditional brokers hide their fees and costs, and I can’t see any justification for it save that’s the way it’s always been done (would be interested to know the reasons it is presented this way). As a stock trading app for normal people, keeping things really clear and including all costs would be a great way for freetrade to differentiate themselves IMO.
How would that work if you subscribe to Alpha? Divide the cost by the amount of shares you hold? Would need to take that into account if you want to show the actual profit
Sorry I don’t understand how Alpha matters for this (probably just being slow) - the fees/taxes at time of purchase are what is important. Perhaps you meant the fee fro Alpha should be included somehow? Perhaps in portfolio profit but probably not in individual stocks?
Of course gain/loss can’t include the costs to sell (if any) as those are unknown, but I think it should probably include the costs to buy at least, and the average cost per share should include that too IMO, as otherwise you’re encouraging people to discount fees/taxes, which they should not do.
For consistency and clarity I’d prefer costs and gains to always include tax/fees across the app, except on the contract note where there is a proper breakdown.
I agree on this, I’d like the profit (or loss) to reflect what it cost me, e.g. it should include taxes, commission etc (I know it’s only £1 but still).
Having looked at my portfolio again I realise how much I really want this.
One of my investments says I am currently 1.13% up, but I’m not! I’m actually down because it hasn’t taken into account the dealing charge. I so want to see total cost of ownership.
