Yes, thatās exactly the kind of thing I was envisioning. It should be fun to use the platform (it already is so much more so than most other competitors) and there is a huge thing with the young and fresh image Freetrade brings to the table.
Especially the last point you mentioned resonates deeply. It was the reason why I went with FT and not with someone else and it feels good to be part of this, so anything that strenghtens that vision would be a huge plus in my opinion.
Why not even have a way to invest somehow in the platform (other than the Kickstarter early bird stuff) so community members can show their support but also gain something in return.
In Germany, they used to have a lottery style savings plan where you would put x amount in every month and once a year you would get at least 100% of the savings back out with the chance for some bonus.
I think some lottery type of feature is cool to have, but I wouldnāt say it has long lasting stickiness. Lots of other features are much more important to keep users around for long term rather than something quite random.
I would say a lotto type feature sends the wrong message, it should be a place a for a level headed calculated approach. Freetrade shouldnāt need cheap gimmicks
The product as it stands is fantastic, it allows us all to do the basic things, i.e. have an account (be that ISA or not), buy and sell without commission, receive dividends and have a little intrigue to our portfolio.
The next level, i.e. paid for, should add advanced features, many of which have been requestedā¦ Greater decimal points, the bid/ask prices/spread (which may open the door to new shares due to the wide spread), stop loss, automatic dividend reinvestment, categorised pots, greater portfolio insight dataā¦ The list can go on, just look at all the amazing ideas this forum has had.
So you start off with the free version, learn the game (as much as anyone can), then move up.
FreeTradesā paid version should be aimed towards the longterm investor. So the cost is really important towards the actual value you get. I dislike the idea of paying for news. Focus should be on solid functionality and perfectly executed basics, including;
ā¢ Own collection of ETFās created with allocated percentages. (Like lifestrategy) Select your ETFās & allocate the % then simply pay into one fund.
ā¢ Dividend Reinvestment.
ā¢ 12 Broker Consensus (strong buy/buy/hold)
ā¢ After Hours Trading.
ā¢ Dollar Account.
ā¢ Access to Global Markets?
Iād say if HL dropped costs hypothetically from Ā£11.99 to Ā£1 or reinvented their pricing for smaller investors, things could get messy for FreeTrade.
No they would legitimately be screwed. Which is why I believe FT should not be chasing the same income model as their incumbents. FT needs to do what they wonāt because its āgimmickyā.
Imo charging for this would be madness. I have already created some of these features locally. I would not pay for them.
I think the recent revamp of instant orders is illuminating too. FT made the right decision here. Charging for these features will be a race to the bottom. They need to do something different and they are in a great position to do so.
The only thing that comes to mind right now is research
For example (although it could definitely be something else) an integration of Morningstar would be welcomed
Sure it wouldnāt be the most original thing, but originality is nice for marketing/pr, Iām not sure itās that relevant in terms of a successful subscription with low churn
The problem is research is expensive so this would all depend on your ability to get a great deal
