The pace of Freetrade's development & the Investment Platform

Hi Alex,

I’ve got a basic question. You say you’re launching an investment platform, so what is the system called that I’m currently using in the app to buy stocks and shares?

Does the current Freetrade app not fall under the technical definition of an investment platform?

Regards

2 Likes

:eyes:tell us more - sounds great

We’re currently using a system that’s provided by another company for the core of the platform. There’s a range of other services that feed into it though e.g. we get our pricing data for US stocks from IEX.

Not quite, the app connects to the platform but it’s not part of it.

For example, the platform contains the ‘ledger’ that keeps a record of all of your stocks, your cash balance etc. And the app retrieves that information and displays it for you. When you place an order, that request is sent to the platform which is connected to the market and it handles that order, before sending the outcome back to the app.

The app does manipulate the data, for example, it produces the Portfolio Graph. But it’s taking that data from the platform.

4 Likes

Interesting, I did not know that you’re using a 3rd party and I’ve read quite a lot of the info about Freetrade. Are you able to share who the 3rd party is or even privately as I’m an investor in Freetrade?

Good to hear that you’re building your own platform as I assume there are costs involved in using another company’s one.

I must say I was frustrated with the long wait time after R2 fundraising, as the original target rollout was missed by some way and now have opened with another zero commission competitor and use them, yet to convert over to freetrade! I want to because I like your style so much but the one I’m with at the moment are ahead with features!

I was wondering when/where are the financial reports over the last few quarters for investors who would like to see the number of users you have achieved and how revenue generation is coming along?? @Freetrade_Team1 @Vlad

Also dont know if this is in a thread somewhere but are you guys looking into an integration with monzo? You guys would definitely get on!

1 Like

What’s the other zero commission broker that you’re using? Just interested to know, message me if you don’t want to post it

@cwlfletcher same here, which platform is this?
Robinhood isn’t available, Revolut not rolled out yet, Trade Republic only usable in Germany…
DeGiro not commission free and domicile in Netherlands.

I suspect it is either eToro or Trading212

it is indeed etoro, still love freetrade and do think its a slicker app and more intuitive! just for my investing etoro has more analysis

Has it been decided what the inventive will be? When you don’t care about instant trades like a day trader then the only incentive is £££ or some swag

Yes, there’s more details here: We'll start testing incentivised referrals (free shares!) within weeks 👯

Yeah I just scrolled down a bit further & saw it =) too fast responding for me to delete

1 Like

No worries, I’m sure other people will have been wondering the same thing too :slight_smile:

I’m waiting for this to happen. @Freetrade_Team1 what is expected date for this to happen? in couple of months/next year? More details on the investment platform is much appreciated.

For me timing is important as I cannot contribute/(open? not sure) to two ISA accounts in a financial year. If it is going to be delayed then I would either continue with my current ISA or look for something else.

This was on twitter yesterday so it’s getting closer

It might still be ages away but I’ve decided it means :soon:

3 Likes

Any update this week? :blush:

Is there any news or a rough eta?

1 Like

Not right now, we’ll share it here as soon as there is any :newspaper:

1 Like

Is there any chance of a rough eta?
The current stock universe is relatively small, and am wondering if I should go to another stock broker for a short while or If i can wait.

3 Likes

I am in the same boat. Invested a sizeable amount of money in the last crowd funding round, but refrained from buying any shares via the platform as the choice is just too limited and I can’t create the balanced portfolio that I want.

1 Like