When will Freetrade be available in the USA/Canada

Just a joke Iā€™m afraid! Donā€™t take it as confirmation (or denial) of anything.

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I just saw @adam start replyingā€¦ Carefully choosing words, no doubtā€¦ #confirmed #speculation
ā€¦ Awaiting the final responseā€¦ No pressure Adam :wink:

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Thereā€™s this: Wealthsimple: Commission-free stock trading

1.5% on the FX

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Maybe other more developed countries would be better than expanding to USA first, where they already have two challenger/low fee brokers there.

For example south america, japan, south korea. A few years off anyway, once europe has been rolled out.

Thanks @adam

Looks interesting. Solid. I liked their Culture Manual.

Started in 2014.
Combines Robo Advisor and DIY stocks and ETFs investing.
150k clients and 5B AUM.
Annual fees: 0.4% to 0.5%

I still prefer Freetrade. I think we have a shot: the prodigal son who left home to go abroad, founded a successful business, and returned home to share heā€™s creation with his fellow countrymen. Letā€™s do this.

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What I will say about Freetrade is they have a magnificent community forum,I donā€™t know how good other trading companies forums are but money canā€™t buy the community engagement on this forum.

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Fully agree. Loyalty - itā€™s hard to come by. Not only because Iā€™m an investor. I like this forum and everyone are behind the team at Freetrade. Brand loyalty towards Freetrade is innate for me. I invested on the idea of ā€œEuropean Robinhoodā€. Forum is top notch and @engineer just returned. Unstoppable

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Did you get on the beta Ireland and what number did you get

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Beta? @shane-aurora is the OG!

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Iā€™ve no access to a scanner for proof of address but Iā€™ll be getting to one tomorrow. Canā€™t wait! Birthday tomorrow some money will be going into FT!

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I use a phone app called tiny scanner itā€™s very good if it saves you the hassle of finding a scanner

I think I just sent a photo of my driving license. Do you need a scanner to open a Freetrade account

I need it for proof of address from a bank statement. I have a pdf of passport

@Owen.b thanks Iā€™ll look into it tomorrow Iā€™m on the beers today

The barriers of entry for stock trading apps are getting lower, as more fintechs use other B2B fintechs, such as Drivewealth, to include the securities trading and clearing feature. Itā€™s also a highly regulated industry, so entering the US market would be tough and take forever.

RH tried entering new markets overseas and lost its initial edge. Meanwhile, competing services started building similar products both abroad and at home, such as Squareā€™s Cash App, which is generating 100mm in revenue. RH is now doing cash/savings, just like Cash does. The word in Silicon Valley is that they may have stopped innovating despite the abundance of VCā€™s money and having access to a great talent pool they can afford.

There is another app by Stocktwits:

Iā€™ve never used it, but itā€™s like a forum (social) + trading combined:

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I would say it is better to do one thing good than many things average. If entering the USA/ takes a long time then Freetrade should start the ball rolling ASAP and if it takes 2-4 yes then thatā€™s ok. If the product is A1 then you will get a share of the market. You canā€™t just give up and say oh itā€™s to tough to do this or that. Just move slowly and donā€™t be greedy. I think the way Freetrade is growing right now is perfect.

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Two to four years in fintech and tech terms is a long time.

In the US: E-Trade - founded in the 80s in Silicon Valley - was acquired by Morgan Stanley for $13b - has a great app and is rated 4.6 on the AppStore. T212 - same story. Some people wonā€™t switch from E-Trade because it does the job. Square is offering stocks and cryptocoin trading via Cash App. GSachs and MStanley are all entering the neobank/digital app space to tap the retail consumers, both young and not so young, as parts of their investment banking is getting automated. Consumer banking means data and steady cash flow.

If all goes well, we know FT can be valued in the billions when investors can exit via an IPO or a strategic sale.

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I am pretty sure I already mentioned I would not sell my ft investment below 20Ā£ a share. I second your exit value proposal :smiley: :money_with_wings: :money_mouth_face:

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I donā€™t quite understand your point,are you saying that because there are companies in the US with the same offerings or similar to Freetrade then Freetrade have not to enter the North American market? I canā€™t quite get my head around that. If Freetrade have developed there app over many years and they have a strong foundation why on this Earth should they not enter the North American market? Even f it is the crumbs earlydoors,long term they could build up there clientele with a population of 400 million Its a no brainer and nothing on this earth would convince me otherwise.

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Not saying noone should. How you manage your currently limited resources is another thing. Focus and execution is everything.

(Just shared some thoughts here and feedback is welcome.)