Transferwise to launch investment feature

Freetrade to offer access to Invest by Freetrade, in exchange for their FX platform?


Now that would be an interesting partnership.


This is obviously just me but I’ve felt freetrade be a little quiet on the forum lately. Obviously not with alot of matters but there are huge features coming such as plus and orders etc that we haven’t heard about that I just hope has been because of something like this given the nod to this sort of deal in the recent pitch deck.


I don’t understand what Transferwise does - then again I don’t transfer cash overseas.

Why is it better than just sending via bank transfer or Paypal… or Western Union?

‘Now, TransferWise plans to launch a service that lets users of the account invest passively in investment funds from third-party providers’ :shushing_face:


Lets face it that would cover most needs
Passive, cheap, range
No great operational overhead for TransferWise

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Based on my experience Transferwise has significantly lower fees (0.5-1%) and very quick transfers (minutes to a few hours max). Also, their borderless account has made my life so much easier when working or travelling in different countries as you don’t pay foreign currency fees on every transaction when using the card - just (cheaply and seamlessly) convert the money to a local currency on Transferwise.

Quick googling revealed a few Transferwise own comparisons to their competitors:

Above all, what I like about Transferwise the most is that they are very transparent.


that would be a cool deal for sure :wink:

I think I have an idea of which company they are partnering with. :thinking:

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Both Freetrade and TransferWise have been invested by Draper Esprit???


Where does it imply they are partnering with anyone?

I’d like to buy shares from them, but they have no plans to go public :man_shrugging:

I’m thinking you’ll get simple, passive, trackers from a big manager in unit trust, OEIC or maybe ETF form. Vanguard or Blackrock are obvious choices. Held directly with those managers. No middle broker in the form of FT or T212 but direct with provider. Cheaper, easier for TransferWise. New customers for provider.


It does not have to imply.:grinning:

Interestingly they changed the wording in the article as it did previously say that.

Not clear was it inaccurate or something
they didn’t want published!

I would love to see Freetrade partner with multiple fintechs like Transferwise, Starling bank, monzo, N26 etc.

It would open them up to so so many customers, it would be amazing. I also think it would be great for them to set up a potential acquisition of Freetrade in future. I think it’d be cool to see Freetrade IPO, but if they ever needed to sell, they’d have some great partners with some deep pockets to sell to.

I kind of view Freetrade as making huge money from trading as a service, the way Starling do banking as a service as well. They could be the technology powering legacy banks trading platforms as well.

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I wonder if Draper Espirit, is having anything to do with all of this?

I remember on a Zoom call Victor said he got the chance to have a friendly chat with his counterpart at Transferwise via Draper Espirit. ( Don’t quote me on this!)

It would be very interesting to see Invest by Freetrade as the framework to their newest Investment options.

Also I’m sure Freetrade would benefit greatly once it starts using accounts in different currencies ( I.e Euro expansion - Accounts with Euro needed) etc

I also had a listen to Sam’s recent podcast and i remember picking open on him saying something about open banking features. I agree, if Freetrade were accessible via these platforms we’d see a massive increase in users. I bet a lot of people don’t even know Freetrade exist at the moment.

I also really like what Freetrade are doing with the weekend reads and Investment dictionary, with tools - people need to learn how to use them!