I specifically requested my funds to be sold and transferred as cash - as I want to invest in a different ETF with my new provider. Also in specie will take a lot longer to process than a cash transfer. Thereās also the possibility that the new provider doesnāt have the same fund(s) as the existing provider so would have to be sold down in that situation.
I am very concerned something bigger than slow processing is taking place. I have been waiting since start of March and still no transfer.
They waive monthly fees if you ask so please do so if not done already (get it backdated!). This unfortunately doesnt cover my losses still though.
My new provider has said they simply cannot get through to freetrade to execute the transfer and now I worry my money isnt safe.
Im aware freetrade failed to attract new investors last year and had to raise prices again because of profitability. Hopefully notā¦
I was planning to transfer only my excess cash away from freetrade but now want to move my funds- does anyone know a good equivalent which means i wont have to sell and rebuy but can transfer the funds across.
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Unfortunately the email i received from you guys asked me to sell my investments if i wanted a cash transfer and then never got back to me, despite the several emails iāve sent. Hence why i have been sitting on cash for over a month now. My new provider is telling me freetrade havenāt responded yet.
Telling people your going to do better means nothing if the minimum wait time is over 3 months. I understand Freetrade is trying to grow, and so you donāt want to spare staff on people leaving the platform, but youāre destroying your reputation. Why would people transfer in if you donāt have the correct facility and staff power to transfer people out.
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Hi @tmo1
Iāve sent you a DM to chase up this transfer and get this moving. As @Tiv said above, weāve been experiencing a backlog with transfers in and out of the platform. Weāre addressing this as a matter of urgency but of course I appreciate this is little consolation while youāve been waiting.
I understand weāve reached out to your receiving broker on Friday and are awaiting a form from them. So if you can confirm they have shared this to me, Iāll chase up with the transfers team.
Best,
Alex
Iām chasing this up now to see what is going on. Thatās far too long to be waiting. Let me get back to you ASAP.
They raised Ā£37m last year, from all existing investors and new investors (e.g. Phoenix). The price changes are a switch from growth to profitability and changes in their strategy.
Hope they get yours transfer sorted quickly. I waited a while for one of my two SIPPās to get transferred into Freetrade, one provider was just really slow and the process is manual across brokers and there were complications with mine. The industry would benefit from a 7 day switching service like they have in bankingā¦
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I receive notification from FT that they received transfer request and they sent holding details. Reading above should I have to give any more approvals? I do not wan to miss some email/notification and cause delays.
Hi Jason,
I am sorry to hear that you arenāt having a great experience during the transfer process.
If you would like us to look into your transfer, please reach out to reviews@freetrade.io and I will pick up your chat. Unfortunately, I was unable to find your account under your community name.
Since I did all my moaning, my transfer has gone through, small hiccup with one but Marc seams to be on the case and communication with is is fine
if only it was like this at the start I would have only transferred part of my portfolio as was the plan, now everything is with my new broker
communication is king
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Has anyone had any luck chasing this through the ombudsman? Itās been over 30 days and had no progress at all. All the while they earn interest on the cash balance.
Not sure why you bring interest up. If you want to complain you need to make a formal complaint to Freetrade first. They have 8 weeks to respond, if youāre not happy with their final response you can then make complaint to the ombudsman. Itās all on their website
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Iāve been waiting about 2 months for a simple partial cash transfer out and support have been non response or vague at best. They initially claimed my other provider used the wrong address without actually confirming whether they have or havenāt received a request and have been unresponsive since.
They also refuse to call my other provider at their request as freetrade ādonāt do phone supportā.
Hugely frustrating and I think Iāve not much left to do than a formal complaint process through the financial ombudsman service.
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I have got message from FT that valuation of my holdings was sent to other broker, wondering if it was done electronically or via by post? anyone know?
Freetrade are now claiming they have ānot been able to locate any formsā. My other provider have filed a case via email and via recorded delivery. No response to the original request or the 2 subsequent follow ups.
Freetrade had already confirmed that my other provider have been in touch with them yet have failed to follow up with them.
Quite unbelievable.
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My transfer went through yesterday. I was hassling them a lot at the end. Emails sent every day and a number of messages in the app.
The whole process took just over 2 months for me.
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Eventually gave up with the transfer given the unacceptable delays. Complaint is still open to get the fees back theyāve taken due to their slowness processing the transfer.
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Mine done couple of days ago 
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My transfer in has been 14 weeks and counting. Can anyone beat that? I politely chased it up last week and FT appears to have no record. Ah well, to the back of the queue I go! 
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Santa might arrive at your home before your money does 
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I really hate being locked into freetrade now with my isaā¦I cant sell or i would lose too much. I will wait it out. Ive been a member 3 years and all i`ve seen is no app development and alot of price increases. If anybody has looked at trading212ā¦ freetrade should be really worried. ok rant over
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