The very real issue Freetrade is failing to address

Freetrade Chat 🔥
#1

This isn’t a rant about Freetrade limiting buy/sell orders.

This is about the very real option that freetrade has to release funds held on account to their customers using banking methods that expedite the transfer.

A Telegraphic Transfer is immediate. There is a fee involved, yes. But there are some of us, like me, who would pay that fee out of pocket in order to have access to my money immediately instead of the standard 3-5 working days.

Freetrade should have been WELL AWARE of this option and included some communication about it alongside their earlier news of today. Only moreso given the current trade climate.

I have tweeted, messaged, emailed Freetrade all day to open a line of communication as to how we can get this done but haven’t heard a single thing back. Yet their twitter has still been constantly tweeting out apologies that do nothing to resolve customers’ issues.

Some of us don’t blame Freetrade for the position they have been put in, but there definitely could and should have been more done to rectify our positions.

2 Likes
#2

You and 40,000 others. Bear with them, they’re trying :slight_smile:

11 Likes
#3

I know they will inevitably be inundated with aggrieved customers.

But if your read what I posted you’ll see that this isn’t a half-hearted complaint. Its a suggestion that definitely should’ve been borne in my mind by the Owners of Freetrade without having to be mentioned by customers.

It’s a very well known and easily accessible system.

The point is nothing that has been done by Freetrade today is solution-finding. It’s pure apologetics.

1 Like
#4

Fair ask. However, I can imagine they have to prioritise certain issues and requests over others. FT are continuously updating and improving their product, adding more stocks, implementing open banking etc. I think a lot of this regular development is on hold while they are trying to scale for their recent growth while working through their 3p issues, which is likely affecting many more users than the issue you are having. I understand your frustration, but you probably have to look at the big picture here…

2 Likes
#5

This definitely needs adding, but I think it’s worth pointing out how quickly FT have been adding features and improving their app over the past couple of years. Yes there’s more to do, there always is, but I’ve seen more improvements/features added in a couple of months than I’ve ever seen with my traditional brokers app since installing it several years ago. It actually stopped working for a couple of months and they did nothing whatsoever, whereas if something like that happened with freetrade I have total confidence that they would fix it straight away. I know everyone wants everything straight away these days, many people feel entitled to the world on a stick and are slighted by every perceived injustice (not saying OP is but can certainly see that in some other threads), but give them a chance and they’ll deliver.

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#6

They use to do same day transfers for a fee but it’s not something they could scale with customer operations as it was manual intervention

1 Like