Why yes, this is very close to happening now.
We’ll start testing incentivised referrals within weeks. Both you and your referred friend will receive a free share!
Here’s how it’s going to look like:
- You’ll get a referral pass dropped in your app.
- You refer a friend, and as soon as they top up, you both get a free share from Freetrade.
- The stocks will be randomly selected from a list of companies whose stock price’s up to £200.
- You can get both UK and US stocks.
- The stock will drop into your General Investment Account. We can’t put it in your ISA.
- Your referred friend needs to be active, i.e. they have funded their account, for you both to get a free share.
Who can take part during the test phase:
- As a thank you to the people that helped us get to where we are, the free shares testing will be available to crowdfunding investors only. Investors from any previous round as well as the upcoming June round will be in the test group.
- As a sender, you need to have funded and made at least one investment in your GIA or ISA account.
- At first, we can do iOS only (I know, I know), but we are working to catch up on Android already. The recipient can be an iOS or Android user, both will work.
- You can send referral passes to as many friends and family as you want! There’s no limit on how many you can give away.
- However, we will manually replenish your passes. We might do it in bulk on certain days. We’ll see how we can most efficiently manage the process.
What you can do today:
- Give us feedback! We think the right incentive should show why the product is unique and is a great experience to use. We were discussing free instant trades, Alpha subscription in the future, etc. We might test various incentives, but this is what we felt strongest about.
- If you are a crowdfunding investor, tell your friends. You might want to line them up, so you all benefit from this referral program and help us learn, iterate, and grow!