That would be a massive loss to the forum. It was the community discussions that followed that encouraged me to keep using Freetrade.
It felt like a fun place for people learning and exploring. And penny stocks are brilliant to learn with as you can see big impact on little amounts. Obviously the risk is higher but it encourages you to actually give it a go.
[See Ianās update for the latest - weāve added the stocks back]
Hi everyone.
Weāve realised that more advance notice would be a better way of doing this, so weāre adding the stocks back on before we remove them again on Monday. They should be live on your app shortly after 12.30 PM.
Again, due to market volatility, we canāt show stocks which may drop as low as 0.01, because theyād display as 0.00 on the app. This would be a poor and potentially confusing experience for the majority of users.
The universe will continue to expand, and in fact weāre working on the content for the 250 stocks right now (send us ideas for the Virgin Galactic description, please).
Weāll give more advance notice should we need to do this again in the future.
So Freetrade tried to be different by pricing in GBP rather than GBX and have come unstuck over it.
I donāt hold any of these stocks, but thereās no shortage of cheap penny stocks like this on the UK markets which I guess will never be added now. This is a pretty poor decision.
How long have we been told more stocks will be added soon, but the first move is actually to delete some?
I hope you understand the feedback being given isnāt personal and comes from a position of wanting Freetrade to succeed.
Removing popular shares because the system cannot show an accurate price is quite concerning. I honestly believe the solution is to display a more accurate price not remove the stock.
Can you at least give us any indication if greater price accuracy is being discussed/worked on and any long term plan for handling this issue?
I have been using the free account to learn and try the system pending a decision on where to setup an ISA. Despite the Ā£3/month charge of Freetrade it was top contender because of the good community relations, transparency and desire to improve.
Decisions like this really hurt that image. A unilateral decision with no warning to remove popular shares from an already limited selection. A decision that most users wonāt see as they do not use this forum. A decision which could cost users money who try to sell and buy back in to find they canāt.
I hope this can be reviewed again, taking into account the clear wishes of users here, and a sensible decision reached.
Even if they are not listed in Discover to avoid confusing people, they should at least be accessible by searching and display a disclaimer about the price accuracy whilst we wait for 4 decimal place pricing.
If 4 place pricing isnāt coming then please let me know now and Iāll look elsewhere for my ISA.
@anon810895 Iāve really enjoyed your posts and discussions on this forum and I imagine you do a lot to keep things running people donāt realise, like helping out new users and cleaning up spam. Sorry this has happened.
I am not a software engineer either but wasnāt the point of having our own investment platform that you could quickly push out changes - two decimals doesnāt seem like a complex thing at face value, if you canāt do that what was the point of the platform.
Also, like others said - can you just push out the 250 stocks and add descriptions later? Or at least release the names of the 250 stocks so I can start researching and planning?
Any timelines? Feels like we have been waiting far too longā¦
Yes. Been asking for 4dp since 2018
It seems like a okay compromise. A better one might be to leave the stocks in for now and prioritise 4dp but I suppose Freetrade have technical reasons on why it hasnāt been changed.
Surely as the universe expands there will be other stocks priced like this? So will they just not be added?
A date that is being worked towards for the next batch of stocks to be added would be good. Something other than a few weeks. And a list of the 250 would be good.
What does this mean. current holders can view and trade. Does this mean if I hold at least some of one of these stocks say GGP it will still show for me and I will be able to buy and sell as normal. but new people or anyone not holding any will not be able to buy or sell?