Valid thread to have on the community. Interesting to see it’s always the new community accounts (~few weeks old) so vocal on switching/alternative players. Different times since I set up an account in 2019 so I guess there’s a lot more choice in the market. With that far more attractive offerings.
I would like to see some form of verification process on user profiles, like a checkmark if their linked accounts have been funded.
I’ve been using the Freetrade platform for just shy of 3 years and no intention of leaving. I’ve also used HL, Degiro, ii, Trading 212 and Revolut for shares/ETF and FT, for me, is considerably ahead taking everything (cost, usability etc.) into account. Have a GIA and SIPP, and currently deciding whether to open an ISA this year or next. Will also be paying for the annual subscription, it’s a relatively small amount of dosh to save a bit.
In terms of this forum I think it’s generally great. There has been plenty of constructive criticism/whinging about it in other threads, but who else provides a forum for their customers? HL? AJ Bell? Tesco? Ford?
Been with Freetrade since April 2019 when they finally made the app available for Android users. Instant trades were a £1 a pop (which was still a massive bargain) until it was removed and Freetrade fully became free to trade!
Although I still have accounts with HL and AJBell, Freetrade is the account where I am topping up both ISA and SIPP (transfer from HL).
It’s possible that I may have to transfer my SIPP in the future as there is no drawdown facility but will cross that bridge when the time comes.
The app doesn’t do everything I want it to but it does enough.
I was going to read this thread out of interest but leave it alone due to the fact that I am switching. However, I then find these absolutely astonishing comments and feel I have to respond.
I joined FreeTrade and the forum around January 2022, so obviously more than a few weeks ago! I fully funded my ISA so obviously my account is fully funded, although naturally it won’t be after the switch! I not only paid the fee but supported FreeTrade quite vocally during their first price increase. There are many, in my view perfectly legitimate, reasons why I decided to switch and it was actually a very hard decision as there are many things about FreeTrade that I really like, but I’m afraid there were also too many things that counter-acted that. Here is not the thread to outline those and I have done so quite extensively elsewhere but, frankly, I really resent the implication that anyone who doesn’t agree that FreeTrade is absolutely perfect must be some kind of troll! Perhaps learning lessons as to why people switch might help FreeTrade improve and avoid other switches in the future?
On this topic, had I decided to stay, it would have been due to the following:
Lowish fee, which is obviously true compared to an awful lot of brokers.
Good range of ETFs and stocks available, a serious investor can diversify their portfolio nicely.
Nice support people and reasonably good support once you get through to them (I have to say I’ve been very happy with the support I’ve been given even with the switch away so far).
Nice and clean app which is easy to use.
Forum, although it used to be a lot better, you still get a lot of really useful information out of it.
Good luck to everyone who made a different decision than I did when considering which broker to use in the new financial year. I don’t think that is a bad choice either, nor would it have been for me had I chosen differently, but both decisions can be made for perfectly valid reasons!
Ive been with Freetrade since April 19 and although not perfect (no broker is) it suits my needs, I’ve not had too much to complain about over that time so will be staying put and moving to the yearly subscription instead. My hope is that Freetrade don’t pull this new feature after a year and then make everyone (who subscribes) to pay monthly.
Joined August 2020 so been with FT for nearly 3 years. For me it provides simplicity of use, features I want, a decent range of stocks/ETFs etc…I’m staying put. Once the annual sub options comes live I’m taking that up too.